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361  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] NeuCoin - Easy to use, free to try, focused on micropayments - Official on: April 30, 2015, 06:38:18 AM
Sunny King (The creator of Peercoin and proof-of-stake) has looked at their whitepaper. He told us in a meeting that their paper is about 80% accurate. Also, whatever revolutionary changes they have supposedly made to the security model, Sunny has decided to work on a protocol update that should be out sometime soon...

https://www.peercointalk.org/index.php?topic=4074.msg38888#msg38888

So the only real difference that Neucoin will have is it's distribution model. Here is our community's response to them trying to give us coins, just for the record...

https://www.peercointalk.org/index.php?topic=4075.msg38897#msg38897
362  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] [PPC] PPCoin Released! - First Long-Term Energy-Efficient Crypto-Currency on: April 30, 2015, 06:37:18 AM
This is an old thread. The updated one is here...

https://bitcointalk.org/index.php?topic=793142.msg8933791#msg8933791
363  Alternate cryptocurrencies / Altcoin Discussion / Re: What altcoins should be added to the upcoming B&C Exchange? on: April 30, 2015, 06:22:09 AM
You're an exchange. No bullshit reasons like 'the tech, the future, great coin..'. None of that bullcrap.  Volume matters first and foremost for an exchange.

I just wanted to point out that since this is a decentralized business, the Blockshare holders will need to be the ones to pass a motion to support new cryptos on the exchange. They're the ones that will need to be convinced. I'm sure volume will be a major factor in voting for a coin to be added, but it's not the only factor as Jordan Lee points out below...

Because B&C Exchange will be dependent on the blockchains of the assets it supports, only reliable blockchains should be supported. I suspect we will see more than 10 supported shortly after release.

That's a good thing.  3 - 5 coins with good volume and with reliable blockchains traded in a decentralized exchange?  Why not...  It doesn't have to be like Bittrex or Cryptsy where they have lots of junk listed with almost zero volume.  

Exactly, I agree with you.

Also though, it is expected that we will support listing other DAOs/DACs based on the Peershares platform. B&C itself will be built from Peershares, just as NuBits/NuShares was.
364  Alternate cryptocurrencies / Altcoin Discussion / Re: What altcoins should be added to the upcoming B&C Exchange? on: April 30, 2015, 05:39:39 AM
You're an exchange. No bullshit reasons like 'the tech, the future, great coin..'. None of that bullcrap.  Volume matters first and foremost for an exchange.

I just wanted to point out that since this is a decentralized business, the Blockshare holders will need to be the ones to pass a motion to support new cryptos on the exchange. They're the ones that will need to be convinced. I'm sure volume will be a major factor in voting for a coin to be added, but it's not the only factor as Jordan Lee points out below...

Because B&C Exchange will be dependent on the blockchains of the assets it supports, only reliable blockchains should be supported. I suspect we will see more than 10 supported shortly after release.
365  Bitcoin / Project Development / Re: [ANN] B&C Exchange – A decentralized exchange that can earn you Bitcoin! on: April 30, 2015, 05:21:43 AM
I've finally finished going through the design document and this thread and I have some questions.

1. It is mentioned that the signers will receive a block reward for the service they are carrying out. Does this mean that regular Blockshare holders who are minting will be slightly more diluted by the signers, who receive an extra reward?

2. Also, the signers need to give up a security deposit of Blockshares. If the signer no longer has control of these blockshares, will the person holding the security deposits continue to mint with them using a data feed, or will they not be minted with and the signer loses the minting reward from these held shares? If not, I think that is counter-productive, unless being a signer gives them a much larger reward than simply minting the usual way.

3. I want to make sure I understand the Blockcredit system. So shareholders will select a trustworthy custodian and vote to supply them with Blockcredits. That person will then place a sell wall at $1 on any approved exchange. The non-Bitcoin proceeds from selling these credits will be used to purchase Bitcoin. The Bitcoin will then be distributed back to shareholders as payment for providing this exchange network service.

Digging further, these Blockcredits are the only way to actually use the decentralized exchange. If you don't purchase credits then you can't trade. So let's say somebody purchases credits from a custodian. They place trades on B&C until they run out of credits and need to purchase more. In the act of trading, these Blockcredits are actually consumed or destroyed by the system, so that they no longer exist and cannot be used again. This means that as long as customers are using the B&C exchange, there will always be a constantly dwindling supply of Blockcredits. If no more Blockcredits were created by shareholders, the supply would eventually run to zero, as they're all used up trading.

If the market ever got too flooded with Blockcredits, which caused the price of the credits to drop below $1, the custodians would just need to wait and keep their sell wall in place. Everyone buying Blockcredits under $1 would be getting a great deal. Eventually though, as long as the custodian waited long enough, the Blockcredit supply would start getting lower and lower as people buy them to use on the exchange (thus getting destroyed in the process). The supply would get low enough that the price would start rising back to $1, but it would never be able to surpass it because of the sell wall in place. The shareholders would need to constantly resupply the custodians as credits are consumed in the system and the supply runs lower.

Do I understand this system correctly? If so, I think it's brilliant. I can already picture other ways to apply a credit system like this in other Peershare DAOs. There are many possible applications for this and we should develop them before others do.
366  Bitcoin / Project Development / [ANN] B&C - A decentralized exchange that can earn you Bitcoin! - 13 days left on: April 30, 2015, 02:01:12 AM
Also I thought this would need a ANN in the alts? As this is where you may attract a bit more capital.

It's not an altcoin though. It's a decentralized exchange which pays out Bitcoin dividends.

but Bitcointalk unfortunately restricts the length of titles to what we currently have.

Check the title of my post here. I shortened it and the title fits along with the countdown.
367  Bitcoin / Project Development / Re: [ANN] B&C Exchange – A decentralized exchange that can earn you Bitcoin! on: April 30, 2015, 12:57:10 AM
Just a suggestion to the OP. Maybe you could shorten the title to keep an updated countdown in there, so everyone that hasn't visited the thread knows how many days are left to place a bid. For example, the shortened version below will fit in there. I just removed the word exchange, since it's already featured twice...

[ANN] B&C - A decentralized exchange that can earn you Bitcoin! - 13 days left
368  Bitcoin / Project Development / Re: [ANN] B&C Exchange – A decentralized exchange - *** LIVE AUCTION *** on: April 28, 2015, 11:27:00 PM
Jordan, here is a question from r/cryptocurrency...

Quote
Who have they hired to audit their security? Because if they don't pay proper experts to do so (this costs more than $50k to get right), it will be hackers doing the auditing... from the inside.

Edit: At first I thought he meant auditing the code to make sure it's secure, but now I'm not sure.

Edit 2: He expanded on his comments here...

Quote
Their software and servers must be audited for security vulnerabilities by a reputable third party if they want anyone to trust their software with real BTC.
 
There are thousands of ways to attack something like this. Random examples: is their source code repository secure, or can I insert a backdoor by guessing a simple password? Is their web UI vulnerable to XSS attacks? Can someone spend a little to build a "reputation" and leverage that to steal a lot?
 
Actual banks spend tens of millions of dollars per year on securing their transaction systems. They wouldn't spend that money if it were optional - it is absolutely mandatory to invest heavily in securing financial systems.

Edit 3: Here is the Reddit thread with his comments...

http://www.reddit.com/r/CryptoCurrency/comments/345zng/bc_exchange_is_an_upcoming_decentralized_bitcoin/cqs04nh
369  Bitcoin / Project Development / Re: [ANN] B&C Exchange – A decentralized exchange - *** LIVE AUCTION *** on: April 28, 2015, 09:51:43 PM
Ok, you say "This mechanism is currently being used with great success in the NuBits and NuShares network." Well, I'm a three months Nushare holder in your six months old Nubits/Nushares system and didn't see in all this time a single dime in dividends. All I have seen is nubits custodians losing funds in hacked/adminrunnered exchanges and Nushares holders being diluted trying to compensate the custodians lost.

I just wanted to say something about this real quick. While all Nu shareholders are entitled to receive a percentage of the dividends based on how large their equity stake is in the network, it is however not guaranteed that dividends will be given at all. In order for there to be dividends, there needs to be profit for the network. Just think of Nu as a decentralized business in this case. No one in the business should receive dividends if there is no profit.

Unfortunately as you mentioned, shareholders were the victims of 4 centralized exchange failures in which a lot of shareholder funds were lost. If shareholders want to receive dividends, then they need to work hard to figure out how to prevent things like this from happening and to figure out new ways of making profit. If the employees of a business don't put in the hard work and effort, then they won't receive the reward.

Since the February hackings, shareholders have been working hard on these issues. One of the main reasons so much money was lost was because we still had a centralized liquidity operation, with only several liquidity providers managing all the money on these exchanges. To help prevent shareholder funds from being lost again, we've been working on decentralizing our liquidity operations through the development of liquidity pools, in which anyone can join in with their own funds and provide liquidity for the Nu network, also getting paid for it. People don't even need to be elected as LPCs anymore in order to provide liquidity. They simply need to join the pool with their own funds and collect interest.

Another way to prevent this from happening again is Jordan's work on this decentralized exchange, in which our liquidity operations will be protected from hackings and theft. Nu shareholders are still very much in the process of perfecting their product. It's still going to take a long time and a lot of hard work. In my opinion, this is a project that will most likely take years before we see large and consistent profits. I believe we'll get there eventually though, as long as shareholders continue to solve problems and we continue to expand into new areas and figure out new ways of making profit.
370  Bitcoin / Project Development / Re: [ANN] B&C Exchange – A decentralized exchange - *** LIVE AUCTION *** on: April 28, 2015, 03:02:30 PM
The auction is now live. Please read the "Auction" section in the original post to place a bid.

Thanks, bid sent.
371  Bitcoin / Project Development / Re: [Pre-ANN] B&C Exchange – A decentralized exchange that can earn you Bitcoin on: April 28, 2015, 12:52:36 AM
Is sonny king involved?

Sunny King is not involved, but I've talked to him about the B&C exchange project. He said that he's happy that Jordan's team will once again be tackling a difficult project like this. He's also excited about the types of DAOs that continue to come out of the Peershares software designed by Jordan. I personally feel we're at the very beginning stages of an economy that will be filled with DAOs. It's something that will become very widespread and Peershares will be at the forefront of it.
372  Bitcoin / Project Development / Re: [Pre-ANN] B&C Exchange – A decentralized exchange that can earn you Bitcoin on: April 26, 2015, 06:31:40 AM
Hey Jordan, here is another response from the Peercointalk chat, this time from Pillow. It seems he was wondering about leverage being added.

Quote from: Pillow
I've glanced over Jordan's paper. To me it looks similar (from a user) to shapeshift, with the added benefit of getting the fill at the price you set. So like Shapeshift with a "fill" feature, but decentralized and likely cheaper. I would never use the exchange myself to even try and trade during market crashes, because of the latency. Also, if I understand it correctly, it doesn't let me leverage up the trade. so basically _not_ a "trading exchange" but instead an "asset exchange". I think this kind of exchange could serve a niche role and also the decentralized plug-n-play like way of adding new symbols to be traded could make it _super adapative_ to whatever new symbols comes along. If latency and/or leverage could be added, that would be amazing. I'm probably going to support this decentralized Jordan exchange thing, even if I wont make any money on it, I think I want to support the effort. Neucoin... I've not even bothered taking that survey where you get some free coins. It has the feel of a pump n dump, especially in comparison to this exchange thing which is actually solving a real world problem.
373  Bitcoin / Project Development / Re: [Pre-ANN] B&C Exchange – A decentralized exchange that can earn you Bitcoin on: April 25, 2015, 06:50:57 PM
Here's an open question for everyone. What cryptoassets would you like to see on the exchange on Day 1 besides Bitcoin, BlockShares, BlockCredits, NuBits, and NuShares? If there is a very popular suggestion we may look at adding it for our first release.

I think Peercoin should have probably been listed in there, since it's our dividend coin for NuShares, plus the fact that most of us came from that community. It would be great for Peercoiners to be able to reduce their reliance on btc-e in case something ever happened to it. I've also talked to Sunny King about B&C and he's interested in seeing it on there.
374  Bitcoin / Project Development / Re: [Pre-ANN] B&C Exchange – A decentralized exchange that can earn you Bitcoin on: April 25, 2015, 07:43:55 AM
Jordan, ppcman posted this on the Peercointalk chat. Care to comment on any of it?

"The only problem I have, is that it will feel like NXT's asset exchange with a 1 minute delay between trades. If you've ever bought/sold on NXT's Asset Exchange, it just feels wrong to wait so long between transactions. People need to start learning that a common chain with API is the way to go. Let NXT participate. Let Bitshares participate. Let NuShares participate. That's the only way a real decentralized exchange can work. Is if you invite every one to the party.

...even let centralized exchanges participate too. Like a Fidonet system from the BBS days. That's going way back, but there's wiki on it for younger people. To explain, fidonet was a network of messaging spread across the world from proprietary BBS software. It didn't matter what platform you ran, or what software you had. As long as it was compatible with Fidonet, you got the feed. That's what the decentalized exchange of the future will be. Some thing that invites every one to participate and doesn't hold any particular coin or share system special.

We need more collaberation between competing crypto solutions in order for any of this to work. You can't leave any one behind when it comes to decentralized exchanges. That doesn't mean share drops either. It means make it cross-platform compatible. Only then will get adoption and the traffic needed to make it work. In my opinion, watching the crypto scene evolve is like watching grass grow, or a pot of water warm enough to boil. really annoying. I know where we're headed, it is just frustrating waiting for every one to realize it. just my 0.02 cents (or my 0.1 PPC)"


Nu will act as the central bank of the economy.

I would prefer to call it a decentralized bank, but I think you're onto the right line of thinking here.
375  Economy / Securities / Re: About 1.5 Days Lef to Purchase Equity in Teehe Sports Book & Casino (FAQ Inside) on: March 31, 2015, 02:49:48 PM
There are now only 1.5 days left in Teehe's IPO.
376  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [PPC] Peercoin Official Thread: About 2.5 days Left for Teehe Peershares IPO on: March 30, 2015, 02:49:19 PM
About 2.5 days left now.
377  Economy / Securities / Re: Less Than 3 Days to Purchase Equity in Teehe Sports Book & Casino (FAQ Inside) on: March 30, 2015, 02:46:32 PM
About 2.5 days left now.
378  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [PPC] Peercoin Official Thread: Teehe Sports Book & Casino Peershares IPO on: March 28, 2015, 10:53:12 PM
There are now around 4 days left to purchase equity in Teehe Sports Book & Casino. Below I've compiled a Q&A list, along with links to even more info. If you'd like to buy Peershares, then check the main website for contact info. Of note is the fact that this project is headed up by the creator of Peerbox, an operating system designed for securely running nodes and minting Peercoins. The creator (Peerchemist) is a well known and reputable figure in the Peercoin community.

Important Links:

- Teehe.net
- Prospectus
- Business Plan
- More Expansive Q&A Thread

How are you dealing with the legal aspects of this?

First and foremost Teehe is not illegal; however precautions have been made with foresight of legislative changes to cryptocurrency, crowdfunding, and online gambling. As much as legal entities are concerned we do not exist. We only exist in form of DAO. Ownership is decentralized and anonymous.

This must be illegal in United States of America.

Contrary to popular belief online gambling is not illegal in the United States, merely the money transmission process to online gambling companies has been outlawed by the Unlawful Internet Gambling Enforcement Act in 2006.

There is no way for government to seize funds or credit card company to block money transfers as we use cryptocurrency. We handle USD without handling Fiat, thanks to NuBits, which is a cryptocurrency that is pegged to the dollar. The Nu Network was created 6 months ago and has maintained their peg to the dollar, at times generating millions of dollars in trading volume and consistently being listed in the top 10 or top 3 on CoinMarketCap.com in terms of volume.

Can’t managers just steal IPO funds and never deliver the product?

IPO funds are kept in multisig wallet among managers and one neutral party, a well known Nu and Peercoin community member who is chosen for good reputation. Even if managers of Teehe want to steal the funds, they can’t. That is the design.

Why is it better to raise money through Peershares than from traditional VCs?

Funding raised through traditional venture capital firms eliminates anonymity. Furthermore, an elimination of anonymity is a point of failure for the organization if legislation were to negatively shift in either the cryptocurrency or gambling industry. In this regard, Teehe management has the foresight to raise funds in an anonymous fashion through Peershares, to prevent third party intervention in the future. Peershares also allows for profit earned to be distributed via dividends among shareholders, plus the ability for shareholders to influence Teehe through decentralized motion voting.

Teehe is structured to be resilient to attacks from legal entities by its ownership structure in the form of a Peershares DAO, which allows it to circumvent high taxes, regulatory costs and forms of censorship. There is no way for governments to seize funds or credit card companies to block money transfers. There is no way for any government or bank to influence Teehe. That is the design. It is important to say that the only contact point of Teehe with the "real world" is dividends sold for fiat by our shareholders. If shareholders can do this without government interference, then they will remain 100% safe and anonymous.

How will Teehe match upcoming projects that are implementing decentralized gambling on the blockchain?

While these truly decentralized solutions are quite interesting from technical perspective, we consider they lack practicality. They are often over-engineered and lack scalability, stability and
security. That is why we have chosen not to pursue this kind of approach and use tested and reliable technologies. This does not mean we will not strive to technically evolve in the future. We think we are in far better position to experiment with new technologies as money making business than startup running on investor’s money.

What value does non-volatile betting provide the customer?

Bitcoin has continued to grow in the consciousness of its users. However, people still predominantly rationalize their monetary portfolios in terms of Fiat. The same applies to gambling, bettors wish to wager approximately $100 on a match, and not 0.34798 Bitcoin. We spare our customers of this mental conversion and allow them to bet in terms of their preferred Fiat currency.

Volatility is a risk premium, meaning an investor requires a higher return on an investment due to volatility. The volatility swings with Bitcoin are not small either, especially over a long term perspective, so Bitcoin gamblers are taking large risks without being compensated. Teehe eliminates this risk premium, it is logical to conclude the market will come to favour such a solution.

The biggest value is not even to the current Bitcoin gambling market. Teehe opens up this market to the massive traditional Fiat market. Teehe is a bridge between both of these markets. It captures all the benefits cryptocurrency has over Fiat that saw the rise in Bitcoin gambling, while solving the volatility problem that prevented a larger majority of users entering into Bitcoin gambling.

The gambling industry is one that reacts to change quickly; it was one of the first industries to move operations to the internet, it was one of the first use cases of Bitcoin. The future of the online gambling market lies in non-volatile betting, low transaction fees, and instantaneous deposits/withdraws.

Where did the name Teehe came from?

The ancient Greek goddess Tyche. The personification of chance or luck, the Fortuna of the Romans, a daughter of Zeus the Liberator.

Adapted to English language and modern demographics.

How does Teehe compare with classic online betting sites and casinos?

Teehe solves a lot of problems that customers experience with classic online betting sites that accept Fiat currency. Gamblers are accustomed to gamble with Fiat, whether USD or Euro. We handle USD without handling Fiat, thanks to NuBits. Moreover, Bitcoin takes role of credit card operator with Teehe as it can be used as mean of money transfer from customer to Teehe or vice versa.

By not using Fiat currency we solve following problems:

  • Money deposit/withdrawal fees

Credit card company will take fee, PayPal/Skrill will take a fee, gambling house will take a fee. Those can reach up to 20 USD on each transfer in any direction. Most of people gamble with less than 50 USD at the time. So they lose up to 50% of their stake just to transfer the money.

  • Money transmission delays

It will take up to two days to get your money to gambling house, even more if you need to withdraw.

  • Fiat to Fiat conversion fees

Most of gambling houses accept Euro/US Dollar. If customer uses another currency, credit card company or PayPal/Skrill will rob you on conversion rate.

  • Easy taxation on behalf of authorities

Authorities ignore small time players. However if you score big win, like 5-10-20k Euro governments will try to tax it. Sometime taking as much as 50%. With Fiat you can not hide this money, with cryptcurrency you can.

  • Total loss of privacy

Your bank, credit card company and goverment can track your activity easily.

  • Seizure of customers funds by bank or credit card company.

This happens sometimes, you can read about it on gambling/betting forums. For no obvious reasons credit card company or PayPal will just take your funds and keep them for months as you try to get it back hopelessly.

What do we solve? All of the above. We handle USD without handling Fiat, thanks to NuBits. We allow customers to bypass classic financial institutions while retaining their habits.

379  Economy / Securities / About 1.5 Days Lef to Purchase Equity in Teehe Sports Book & Casino (FAQ Inside) on: March 28, 2015, 10:39:23 PM
There are around 1.5 days left to purchase equity in Teehe Sports Book & Casino. Below I've compiled a Q&A list, along with links to even more info. If you'd like to buy Peershares, then check the main website for contact info. Of note is the fact that this project is headed up by the creator of Peerbox, an operating system designed for securely running nodes and minting Peercoins. The creator (Peerchemist) is a well known and reputable figure in the Peercoin community.

Important Links:

- Teehe.net
- Prospectus
- Business Plan
- More Expansive Q&A Thread

How are you dealing with the legal aspects of this?

First and foremost Teehe is not illegal; however precautions have been made with foresight of legislative changes to cryptocurrency, crowdfunding, and online gambling. As much as legal entities are concerned we do not exist. We only exist in form of DAO. Ownership is decentralized and anonymous.

This must be illegal in United States of America.

Contrary to popular belief online gambling is not illegal in the United States, merely the money transmission process to online gambling companies has been outlawed by the Unlawful Internet Gambling Enforcement Act in 2006.

There is no way for government to seize funds or credit card company to block money transfers as we use cryptocurrency. We handle USD without handling Fiat, thanks to NuBits, which is a cryptocurrency that is pegged to the dollar. The Nu Network was created 6 months ago and has maintained their peg to the dollar, at times generating millions of dollars in trading volume and consistently being listed in the top 10 or top 3 on CoinMarketCap.com in terms of volume.

Can’t managers just steal IPO funds and never deliver the product?

IPO funds are kept in multisig wallet among managers and one neutral party, a well known Nu and Peercoin community member who is chosen for good reputation. Even if managers of Teehe want to steal the funds, they can’t. That is the design.

Why is it better to raise money through Peershares than from traditional VCs?

Funding raised through traditional venture capital firms eliminates anonymity. Furthermore, an elimination of anonymity is a point of failure for the organization if legislation were to negatively shift in either the cryptocurrency or gambling industry. In this regard, Teehe management has the foresight to raise funds in an anonymous fashion through Peershares, to prevent third party intervention in the future. Peershares also allows for profit earned to be distributed via dividends among shareholders, plus the ability for shareholders to influence Teehe through decentralized motion voting.

Teehe is structured to be resilient to attacks from legal entities by its ownership structure in the form of a Peershares DAO, which allows it to circumvent high taxes, regulatory costs and forms of censorship. There is no way for governments to seize funds or credit card companies to block money transfers. There is no way for any government or bank to influence Teehe. That is the design. It is important to say that the only contact point of Teehe with the "real world" is dividends sold for fiat by our shareholders. If shareholders can do this without government interference, then they will remain 100% safe and anonymous.

How will Teehe match upcoming projects that are implementing decentralized gambling on the blockchain?

While these truly decentralized solutions are quite interesting from technical perspective, we consider they lack practicality. They are often over-engineered and lack scalability, stability and
security. That is why we have chosen not to pursue this kind of approach and use tested and reliable technologies. This does not mean we will not strive to technically evolve in the future. We think we are in far better position to experiment with new technologies as money making business than startup running on investor’s money.

What value does non-volatile betting provide the customer?

Bitcoin has continued to grow in the consciousness of its users. However, people still predominantly rationalize their monetary portfolios in terms of Fiat. The same applies to gambling, bettors wish to wager approximately $100 on a match, and not 0.34798 Bitcoin. We spare our customers of this mental conversion and allow them to bet in terms of their preferred Fiat currency.

Volatility is a risk premium, meaning an investor requires a higher return on an investment due to volatility. The volatility swings with Bitcoin are not small either, especially over a long term perspective, so Bitcoin gamblers are taking large risks without being compensated. Teehe eliminates this risk premium, it is logical to conclude the market will come to favour such a solution.

The biggest value is not even to the current Bitcoin gambling market. Teehe opens up this market to the massive traditional Fiat market. Teehe is a bridge between both of these markets. It captures all the benefits cryptocurrency has over Fiat that saw the rise in Bitcoin gambling, while solving the volatility problem that prevented a larger majority of users entering into Bitcoin gambling.

The gambling industry is one that reacts to change quickly; it was one of the first industries to move operations to the internet, it was one of the first use cases of Bitcoin. The future of the online gambling market lies in non-volatile betting, low transaction fees, and instantaneous deposits/withdraws.

Where did the name Teehe came from?

The ancient Greek goddess Tyche. The personification of chance or luck, the Fortuna of the Romans, a daughter of Zeus the Liberator.

Adapted to English language and modern demographics.

How does Teehe compare with classic online betting sites and casinos?

Teehe solves a lot of problems that customers experience with classic online betting sites that accept Fiat currency. Gamblers are accustomed to gamble with Fiat, whether USD or Euro. We handle USD without handling Fiat, thanks to NuBits. Moreover, Bitcoin takes role of credit card operator with Teehe as it can be used as mean of money transfer from customer to Teehe or vice versa.

By not using Fiat currency we solve following problems:

  • Money deposit/withdrawal fees

Credit card company will take fee, PayPal/Skrill will take a fee, gambling house will take a fee. Those can reach up to 20 USD on each transfer in any direction. Most of people gamble with less than 50 USD at the time. So they lose up to 50% of their stake just to transfer the money.

  • Money transmission delays

It will take up to two days to get your money to gambling house, even more if you need to withdraw.

  • Fiat to Fiat conversion fees

Most of gambling houses accept Euro/US Dollar. If customer uses another currency, credit card company or PayPal/Skrill will rob you on conversion rate.

  • Easy taxation on behalf of authorities

Authorities ignore small time players. However if you score big win, like 5-10-20k Euro governments will try to tax it. Sometime taking as much as 50%. With Fiat you can not hide this money, with cryptcurrency you can.

  • Total loss of privacy

Your bank, credit card company and goverment can track your activity easily.

  • Seizure of customers funds by bank or credit card company.

This happens sometimes, you can read about it on gambling/betting forums. For no obvious reasons credit card company or PayPal will just take your funds and keep them for months as you try to get it back hopelessly.

What do we solve? All of the above. We handle USD without handling Fiat, thanks to NuBits. We allow customers to bypass classic financial institutions while retaining their habits.

380  Local / 中文 (Chinese) / Re: Teehe 中文版招股书及IPO周报 on: March 28, 2015, 07:14:18 PM
Less than 5 days left until IPO ends. There's more info in this thread...

https://discuss.nubits.com/t/ipo-teehe-dao-sports-book-and-casino-based-on-peershares/1734

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