The solution is simple. Lets keep 0 confirmation deposit as it is a nice feature to have. But instead put a restriction on a withdrawal -
Unless your deposit wasn't confirmed you can't withdraw it. It is as simple as that.
The cheaters act like this: Create account #1 -> deposit BTC -> they lose -> they double spend Create account #2 -> deposit BTC -> they lose -> they double spend Create account #3 -> deposit BTC -> they WIN -> they allow the transaction to go through -> transaction confirms -> they request a withdrawal So in this case, we wouldn't allow accounts #1 and #2 to withdraw, but we WOULD allow account #3 to withdraw, since it has a confirmation. But it is still a cheater's account. As you can see, it still does not help us because the cheaters are able to constantly create new accounts with different IPs and emails until they win. |
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You could do what luckyb.it does and wait for it to confirm with a low fee, or have instant play with a fee of at least 0.0002BTC. Should stop most double spenders, as it needs to be a large tx size for it to not confirm for a while with that kind of fee. Most players won't really notice a difference with paying 4 cents extra for the fee if they can play instantly, but it protects you a lot more. It also shouldn't affect the people that like small fees, since they can choose to wait for it to confirm.
Correct me if I'm wrong, but aren't they able to double spend regardless of the fee amount simply by putting a higher fee for the same transaction before the confirmation hits? They could, but if the fee is high enough, it should be confirmed very quickly. I'm not sure how luckyb.it does it, maybe send one of the owners a PM. I was just stating what I knew. It also is a lot more risky if you put a high fee, which might repel some people that want to double spend. Maybe if a tx has a combination of decent fee/small tx size and small sized deposit, then you will accept it without a confirmation. From my playing at luckyb.it, when ever I use a fee of 0.0002, even before it's confirmed they send my payout to my address. Seems like it would be easily exploitable. I'll send them a message and see what they do to protect themselves |
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I have a friend who always bets on 2 of the 3 long lines, definitely fun to watch him play!
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There is a reason that all gambling tables or websites put a MAX BET, and that is so that you can't keep doubling until you win!
However it is still in the real of possibilities that the roulette spin hits 25 blacks in a row, or that you lose 25 hands of blackjack in a row. So always be careful!
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You could do what luckyb.it does and wait for it to confirm with a low fee, or have instant play with a fee of at least 0.0002BTC. Should stop most double spenders, as it needs to be a large tx size for it to not confirm for a while with that kind of fee. Most players won't really notice a difference with paying 4 cents extra for the fee if they can play instantly, but it protects you a lot more. It also shouldn't affect the people that like small fees, since they can choose to wait for it to confirm.
Correct me if I'm wrong, but aren't they able to double spend regardless of the fee amount simply by putting a higher fee for the same transaction before the confirmation hits? |
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"I always tell the truth, even when I lie"
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I still use paypal, but it's a constant headache!
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It recently came to our attention that many people (including people on this forum) are attempting to cheat on gambling websites (especially those that have a 0 confirmation deposit policy) Here is how it works: - Cheater finds a gambling website that lets you deposit with 0 confirmations - Cheater sends BTC with a low fee, which takes anywhere between a few minutes to over 1 hour for it to receive the first confirmation - Cheater plays on the website: ~ IF he is winning before the first confirmation hits, he "allows" for the transaction to go through (by not double spending) and then withdraws the winnings once the transaction is confirmed. ~ IF he is losing before there is the first confirmation hits, he double spends the transaction with a higher fee to another wallet of his. This effectively gives the cheater a window of a few minutes to play and decide if he wishes to allow the transaction to go through or not. When we had our 0 confirmation policy, this happened to us ( www.BitcoinBlackjack.com) many times. And now that we implemented a 1 confirmation policy it seems that the cheaters have taken their scam elsewhere. We have personally spoken to many other gambling site owners on this forum, and many of them have also switched from a 0 confirmation to a 1 confirmation deposit policy in order to protect themselves. Unfortunately, this does not benefit the experience for the players (since they have to wait for their deposits to confirm each time before playing). But it seems to be the only way to combat double spenders. What do you guys think? Players? Website owners? We would love to hear from your experiences and see if there is a better solution. |
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Be very careful with anyone promising you interest on your BTC!
Countless of these "services" can simply vanish overnight, stealing your coins. It has happened many times in the past and will continue happening in the future.
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Sell some belongings of yours that you don't use anymore (if you have any), and invest that money in buying BTC!
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You absolutely need to speak with your accountant regarding this! The laws are different for every country and state.
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I think that BTC should be a part of a well balanced portfolio of investments.
As we all saw, the price fluctuates significantly, and cannot be predicted.
There is currently a 50% chance that the price will rise, and a 50% chance that the price will fall.
Given this, one can always "hope" to hold on and become rich, but think of the amount of people that will sell at 1000$, 2000$, 5000$, etc...
What % of people will actually refuse to sell and hold on until the price reaches the stars for them to actually "get rich"? My guess is not that many!
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Really interesting question! I think that it's very important to teach kids on the importance of money, investments, hard work, etc...
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When you say "invest" in a casino, do you mean to open up your own casino or to gamble?
Because gambling is NOT investing. In fact, you will most probably lose your money while gambling. So please be careful!
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The bible was first published when we didn't even have electricity. There is no way that it could have spoken about any form of digital currency!
However I guess you can analyze what it says about currencies, monies and personal possessions and compare to that.
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I think it's funny because everyone talks about Satoshi as being male.
It would be extremely interesting if the creator turned out to be female!
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Question?
I know there are a few hosting companies out there. Is this something the community is interested in using or expanding? The reason I ask, I've got a good size, climate controlled warehouse with reasonable power costs. I currently use it for just my own hardware but would be willing to consider hosting for those with high power costs, noise issues, etc. I'd be interested in everyone's thoughts.
Thanks
Personally, I think there are too many hosting companies out there. However if you have the setup for it and can offer something that the community needs, then the more power to you and I hope you succeed! |
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I think everyone on this forum is hoping for a price increase  |
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There are so many ways of securing your BTC.
Getting a wallet like Electrum makes it so no one can send money out without a password.
Storing your wallet in cold storage makes it so it's not accessible from the internet (only by your computer).
People store wallets on USB keys that remain in a safe, but then you have the inconvenience of accessing your coins when in need.
It's really all about a security vs. convenience tradeoff, but overall some very solid ways of keeping your coins safe!
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It's all about the chemicals that it makes your brain secrete, giving you intense moments of highs that you wish to chase.
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