Alright, per definition can you not have a betting system without either p2p interaction or central authority. The question here is how far should CHA go, if the limit is p2p interaction then obviously you can't go far beyond dice games or roulette. The interesting part of the gambling world is in interaction with other players, though. So I'd say why not introduce interaction (at a later point probably, first things first)
There is already a coin/system that does that. And basically all people that invested in this coin don't want to trust somebody. The whole appeal of this coin is that noone can cheat here. Lets look at it another way. Why is BTC so awesome? Nobody can manipulate the total number of coins. Same goes for CHA. Now we introduce your sportsbet manager that sets the "fair" odds. What happens if he goes rouge or makes a big mistake? Like he creates 500000 new coins by accident (fat finger)? This isn't all to unrealistic... Mistakes happen all the time. I'd rather see a fork with those features, than see that implemented into CHA. CHA should focus on all the casino games that are out there. Slots, roulette, blackjack, dice, and many more... A market is as fair as it gets, I'm not in favour of a sportsbet manager. I mean I think we're at a dead end here, I think you're excluding a lot of gambling by excluding interactions with other players (such as one of the most popular casino games, namely poker), but if you don't think so I can't change that and I see your point. |
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Step 3: sports betting via decentralised system that determines the odds
Everyone is talking about betting sport but this cannot be decentralized. why not? it's basically an exchange with prices that determine the odds. house edge could be easily implemented, hardcoding of the results shouldn't be extremely difficult. or am i missing something? from where do you get 100% reliable and 100% true results without any trust issues. How does the software post the bets? How could this ever be automated? Take bets from a centralised site? Can be manipulated. I am 99% sure that sportsbetting can't be added.. Casino games on the other hand. Easy i'd like to hear one of the developers comment on this. the results would obviously be a problem, though a very similar one to the randomness problem that was solved via the ny lottery drawings. the community would agree on a source for the results and that would be kept until it goes down. the rest in my view (posting the bets) could be achieved just like a decentralised exchange works. Who sets the odds? If you think sportsbetting can be added easily you are delusional. There are so many probelms that come to mind. How are refunds ect handeled? How are bets handeled that get canceled because the house calculated the odds wrong? i don't say it's easy, what i'm saying is it should be technically possible and achievable. the odds would be set by a market, as i said just like the decentralised exchange works. betting is like trading a digital option or maybe a cfd. i also see a lot of problems of different sizes, though nothing that's really making this impossible. no refunds obviously, does bitcoin allow for refunds if you got robbed? again, i haven't had time to actually think through every aspect, so i'd be happy if someone proved me wrong, though nobody has so far. Who can decide "team A won" and "team B lose" ? An admin ? Only manually ? Very easy. API from authoritative website such as Yahoo. who sets the odds? And don't say market, we have no market, we don't have one. It must be decentralised and trustless... Please, this is pointless. Obviously you either need a market or an individual who sets the odds. And yes there is gonna be a market as soon as 2 people make bets. The more people bet, the more "accurate" the odds are going to be. One could start with an auction type of system in order to avoid putting people at an advantage/disadvantage who bet early. No there is not. You are thinking of a place where 2 people can bet AGAINSt each other. While is certainly possible to implement, (Rather easy, and already done on XCP) it has NOTHING to do with Chancecoin. Alright, per definition can you not have a betting system without either p2p interaction or central authority. The question here is how far should CHA go, if the limit is p2p interaction then obviously you can't go far beyond dice games or roulette. The interesting part of the gambling world is in interaction with other players, though. So I'd say why not introduce interaction (at a later point probably, first things first) |
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Step 3: sports betting via decentralised system that determines the odds
Everyone is talking about betting sport but this cannot be decentralized. why not? it's basically an exchange with prices that determine the odds. house edge could be easily implemented, hardcoding of the results shouldn't be extremely difficult. or am i missing something? from where do you get 100% reliable and 100% true results without any trust issues. How does the software post the bets? How could this ever be automated? Take bets from a centralised site? Can be manipulated. I am 99% sure that sportsbetting can't be added.. Casino games on the other hand. Easy i'd like to hear one of the developers comment on this. the results would obviously be a problem, though a very similar one to the randomness problem that was solved via the ny lottery drawings. the community would agree on a source for the results and that would be kept until it goes down. the rest in my view (posting the bets) could be achieved just like a decentralised exchange works. Who sets the odds? If you think sportsbetting can be added easily you are delusional. There are so many probelms that come to mind. How are refunds ect handeled? How are bets handeled that get canceled because the house calculated the odds wrong? i don't say it's easy, what i'm saying is it should be technically possible and achievable. the odds would be set by a market, as i said just like the decentralised exchange works. betting is like trading a digital option or maybe a cfd. i also see a lot of problems of different sizes, though nothing that's really making this impossible. no refunds obviously, does bitcoin allow for refunds if you got robbed? again, i haven't had time to actually think through every aspect, so i'd be happy if someone proved me wrong, though nobody has so far. Who can decide "team A won" and "team B lose" ? An admin ? Only manually ? Very easy. API from authoritative website such as Yahoo. who sets the odds? And don't say market, we have no market, we don't have one. It must be decentralised and trustless... Please, this is pointless. Obviously you either need a market or an individual who sets the odds. And yes there is gonna be a market as soon as 2 people make bets. The more people bet, the more "accurate" the odds are going to be. One could start with an auction type of system in order to avoid putting people at an advantage/disadvantage who bet early. |
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Step 3: sports betting via decentralised system that determines the odds
Everyone is talking about betting sport but this cannot be decentralized. why not? it's basically an exchange with prices that determine the odds. house edge could be easily implemented, hardcoding of the results shouldn't be extremely difficult. or am i missing something? from where do you get 100% reliable and 100% true results without any trust issues. How does the software post the bets? How could this ever be automated? Take bets from a centralised site? Can be manipulated. I am 99% sure that sportsbetting can't be added.. Casino games on the other hand. Easy i'd like to hear one of the developers comment on this. the results would obviously be a problem, though a very similar one to the randomness problem that was solved via the ny lottery drawings. the community would agree on a source for the results and that would be kept until it goes down. the rest in my view (posting the bets) could be achieved just like a decentralised exchange works. Who sets the odds? If you think sportsbetting can be added easily you are delusional. There are so many probelms that come to mind. How are refunds ect handeled? How are bets handeled that get canceled because the house calculated the odds wrong? i don't say it's easy, what i'm saying is it should be technically possible and achievable. the odds would be set by a market, as i said just like the decentralised exchange works. betting is like trading a digital option or maybe a cfd. i also see a lot of problems of different sizes, though nothing that's really making this impossible. no refunds obviously, does bitcoin allow for refunds if you got robbed? again, i haven't had time to actually think through every aspect, so i'd be happy if someone proved me wrong, though nobody has so far. |
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Step 3: sports betting via decentralised system that determines the odds
Everyone is talking about betting sport but this cannot be decentralized. why not? it's basically an exchange with prices that determine the odds. house edge could be easily implemented, hardcoding of the results shouldn't be extremely difficult. or am i missing something? from where do you get 100% reliable and 100% true results without any trust issues. How does the software post the bets? How could this ever be automated? Take bets from a centralised site? Can be manipulated. I am 99% sure that sportsbetting can't be added.. Casino games on the other hand. Easy i'd like to hear one of the developers comment on this. the results would obviously be a problem, though a very similar one to the randomness problem that was solved via the ny lottery drawings. the community would agree on a source for the results and that would be kept until it goes down. the rest in my view (posting the bets) could be achieved just like a decentralised exchange works. |
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Step 3: sports betting via decentralised system that determines the odds
Everyone is talking about betting sport but this cannot be decentralized. why not? it's basically an exchange with prices that determine the odds. house edge could be easily implemented, hardcoding of the results shouldn't be extremely difficult. or am i missing something? |
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In terms of betting/gambling apps on top of cha I'd recommend a step by step approach:
Step 1: popular games that can be constructed by "rolling dice", i.e. roulette. This could be done very quickly with minimal development effort.
Step 2: multiplayer games, simply in order of popularity/usage
Step 3: sports betting via decentralised system that determines the odds
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How are
1) what people bet on
2) what the stakes are
determined with this coin? Basically, how does the decentralised gambling actually work?
from a non-technical point of view it's actually very simple: people make a bet, putting in their desired stake and winning probability, the system determines if the gambler won or lost via new york lottery drawing and he or she gets his coins or loses them. if he wins new coins are created, if he loses his stake is destroyed, which levels out on a long-term time scale. So people are betting only on ny lottery drawings? Just wondering what some examples look like. I'm curious about this too. the lottery drawings are just an input for randomness. example: i choose 50% probability and i bet 100 cha. i win, i get 200 cha. (disregarding house edge). it's really not that complicated to understand (as a concept at least, i guess technically it's a very challenging thing to develop) can somebody elaborate on this? profit should be negative, right? or is this the house edge profit? |
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How are
1) what people bet on
2) what the stakes are
determined with this coin? Basically, how does the decentralised gambling actually work?
from a non-technical point of view it's actually very simple: people make a bet, putting in their desired stake and winning probability, the system determines if the gambler won or lost via new york lottery drawing and he or she gets his coins or loses them. if he wins new coins are created, if he loses his stake is destroyed, which levels out on a long-term time scale. |
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3 questions:
how is the 120 bet, 800 cha profit thing possible for the biggest winner?
why is the last bet on recent bets 17th of may? no bets since then?
is the decimal point bug (for countries using comma) resolved?
thanks!
1. You can choose the "Chance to win" 2. It is because you don't sync your wallet. Every day having bet in wallet, about 30 bets each day. 3. I don't know thanks for your replies! 1. I know that, doesn't explain the ridiculous luck it takes to come to a 800 cha profit after 120 bets with an average bet size of 20. Yes it's possible but very, very unlikely given the small number of bets that happened so far. 2. I took that from the website, it seems to be fine now, showing 22/5 edit: funny, the biggest winner changed, seems the lucky phase is over^^ still doesn't change the fact though |
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3 questions:
how is the 120 bet, 800 cha profit thing possible for the biggest winner?
why is the last bet on recent bets 17th of may? no bets since then?
is the decimal point bug (for countries using comma) resolved?
thanks!
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I don't really want to use my btc like fiat anyway. Derivatives and futures etc. are an old economy thing.
that's an extremely dumb statement and the kind of thinking that's slowing the advance of bitcoin. bitcoin should integrate into the existing financial system, not in some way overthrow it. there's just absolutely no way bitcoin could stand up against an established, working and (in large parts) useful multi trillion dollar derivatives market. and it doesn't need to. everything else is anarchism. |
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So if I'm on the old list, i should still do the twitter thing to get more coins?
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Bug reportIt is impossible to play the casino because the software doesn't put decimals.  If try a bet of 1 CHA at 50%, the software put X 198 instead of X 1.98Then I get the error : Please specify a chance and payout that are congruent. Second case :  If I try a bet of 1 CHA at 1.98 multiplier, the software put 5000% instead of 50%I think the problem come from the use of "," or "." In some country, we use one or the other and the software didn't anticipate it. same here, i have reported this a few pages ago, no solution apparently. if this persists in every country that uses ",", you're cutting out quite a large potential user base |
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i like that, chancecoin should get the china boost like bitcoin and for example faircoin. should be a good move to tap into hundreds of millions chinese gambling addicts^^ what is the most popular chinese gambling game? build that on top of the chancecoin protocol |
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so i just sent the address to bcc dev, no subject, nothing else, is that alright?
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i can't bet because my os is set to comma as decimal separator, so when i put in 90% winning chance i get factor 110 instead of 1.1, and it changes automatically. any fix for that?
write 0.9 oops makes sense, thanks^^ edit: oh it still doesn't work, when i put in 0.8 i get 12375, when i put in 0,8 i get NaN... |
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i can't bet because my os is set to comma as decimal separator, so when i put in 90% winning chance i get factor 110 instead of 1.1, and it changes automatically. any fix for that?
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can't run the software, tried with 64bit java, just stuck loading for 10 minutes, i restarted chancecoin, now it simply crashes after 3 seconds. installed 32 bit java, nothing changed. i'm on 64 bit win 7
Wait until the loading finished. It will take some time. How about adding the syn status when loading,devs? I also want how to shorten the loading time. As i said, it crashes now, i even tried re installinb 64 bit java, nothing works |
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can't run the software, tried with 64bit java, just stuck loading for 10 minutes, i restarted chancecoin, now it simply crashes after 3 seconds. installed 32 bit java, nothing changed. i'm on 64 bit win 7
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