BlocksRace.com | The Newest Bitcoin Game | Bet on Bitcoin Mining Outcomes

[Solosanz]

I think, this might be the best unique gambling project I have ever seen in this forum.

Usually unique gambling projects are like crap because they made it from scratch, I have no problem to start small, but most of them can't get customers and they have limited budget, so in the end their project are dead.

I wonder what if miners know about this site, they're insiders, so they have higher chance to win.

[mamacoin5]

I think, this might be the best unique gambling project I have ever seen in this forum.

Usually unique gambling projects are like crap because they made it from scratch, I have no problem to start small, but most of them can't get customers and they have limited budget, so in the end their project are dead.

I wonder what if miners know about this site, they're insiders, so they have higher chance to win.

Thank you for your comment, Solosanz. Your thoughts about insiders are quite interesting. However, one of the core values of the game is that, due to the decentralized nature of the pools and miners, the outcome cannot be manipulated. If you have a specific scenario in mind, I’d love to discuss it further

[malcovi2]

used the $20 freebet
tx id: 476d682662c30c21e4fc5dcb8483e6e7eace57673d963ce6dbede41720be905e

I wish there is a shorter durations to pick from like 1 - 2 days expected block generation and cool idea, I might try it out more in the future because it is unique compared to most of the current available games which is just reskins from different casinos.

Is the payment automatic or do you have to manually review it before paying it out?

[Knight Hider]

one of the core values of the game is that, due to the decentralized nature of the pools and miners, the outcome cannot be manipulated. If you have a specific scenario in mind, I’d love to discuss it further

1. A large miner can rig this by moving to a different mining pool to change the chance of winning.
2. How is the block time determined? Maybe a mining pool can rig the block time.

Send funds directly from your personal crypto wallet (e.g., Ledger, Trezor, Exodus, MetaMask, Trust Wallet and other). Do not send from a cryptocurrency exchange (e.g., Binance, Coinbase), as exchanges may not support direct payouts.

I like this. BUT people smarter than me say it is a very bad idea:

I need it to return a payment to one of the sending addresses.

No!

No, no, no.

Just no.

In Bitcoin, there's no such thing as a "sending address". DO NOT try to guess at a return address from the inputs of a transaction. Doing so WILL eventually result in lost bitcoins and angry users.  If you want to send bitcoins to someone, ASK THEM TO PROVIDE a receiving address, then use the address they give you.

There are just SO MANY ways that guessing a user's address from inputs will result in you using an incorrect address.

You're probably right, some users will ignore even the simplest of instructions. The return address only works when using your own wallet. This badly complicates my idea.

A significant percentage of the population doesn't even understand the difference between a self-custody wallet, and an account with a service provider.

Then companies like Coinbase (and others) make it even more confusing by calling their accounts "Wallets" all over their user interface.

Then on top of that, you've got multi-sig addresses and the possibility of CoinJoin transactions.

And even if users completely understand how to "use their own wallet" AND they understand that they need to avoid input sharing, you still have the problem that a user could compromise their address very shortly after sending the bitcoins to you (either lost the private keys and don't have a backup, or leaked the private keys). In either case, those coins aren't going to make it back to the person you intend them to.

And if the input is spending a non-standard output, then there is no "address" at all. Are you going to perfectly reproduce their customized script? Or is your code going to try to convert the bytes into an address for which they don't have the private key?

[Hispo]

I don't get at all how are the odds calculed, you should share the provably fair system and the logic behind each bet, that way we will understand how to win or why my bet lose.

I am not an expert, but taking a look at this platform/service, it seems to me they calculate their odds based on the chance each mining poll has to get the block, according to their hashrate and also depending on the statistical history on getting past blocks for themselves. You are supposed to be lower odds if you go for pools like Ant pool or USA foundry (which hold a significant percentage of the hashrate), and you will get higher odds of you bet in favor of mining pools like Slush Pool or Binance mining pool.
Also, there is always the possibility the block to be mined by an anonymous individual who is not a member of any mining pool, in that case all bettors who put money in favor of those recognized mining pools will lost their wager and the few people who dares to bet in favor of a solo anonymous miner will get a lot of money due to the risk risk they decided to take.

Again, I am not an expect not part of the team of this betting project,  I am just using common sense.

I like the concept of this betting service, by the way, I may try it if I have some pocket money left by the end of the week.

[mamacoin5]

one of the core values of the game is that, due to the decentralized nature of the pools and miners, the outcome cannot be manipulated. If you have a specific scenario in mind, I’d love to discuss it further
1. A large miner can rig this by moving to a different mining pool to change the chance of winning.
2. How is the block time determined? Maybe a mining pool can rig the block time.

Thank you Knight Hider.  Let's go with option 1 for manipulating.

Let's say an extremely large miner, who has 1% of the total network, decides to manipulate the market and switch off from the current mining pool to a different one just because of BlocksRace game. First such kind of switch is costly for him, as it is not instant, and he risks block to be mined during it. The risk for him is around 1% of 300K USD = 30K USD . And even if block is not found during the switch, the whole manipulation just increases by 1% the chance of his new mining pool to get the block. Moreover for the version we are preparing for integration with different casinos, we will have realtime data from the mining pools what is their current hashrate so this change will be reflected as well with a reduction of the odds for this pool.

Option 2 - mining pool can not rig block time as this is race between all mining pools which one will compute/guess a hash(with the pending bitcoin transactions as input) , lower than the current bitcoin network difficulty. Leaving this from one of the prominent cypherpunks in the space



In regards of current option for betting & payout, I do not want to argue, it is not something that can be scaled up for sure, thus for the next version we will offer you the option to make a bet & withdrawal through Lightning .

Let us know what ALL OF YOU think if such a kind of option will make it easier to make bets or you prefer to have my account section with  deposit & withdrawal options with different cryptocurrencies

[malcovi2]

used the $20 freebet
tx id: 476d682662c30c21e4fc5dcb8483e6e7eace57673d963ce6dbede41720be905e

I wish there is a shorter durations to pick from like 1 - 2 days expected block generation and cool idea, I might try it out more in the future because it is unique compared to most of the current available games which is just reskins from different casinos.

Is the payment automatic or do you have to manually review it before paying it out?

mmmmm, I won this and it was very close

lucky for me Foundry USA Pool mined the previous 2 blocks and not the 902000 block lol

[BitGoba]

Really cool concept I love the idea of turning the mining race into a betting game, especially since it's built on verifiable Bitcoin data.

Just one suggestion that I think could take BlocksRace to the next level  consider integrating Bitcoin Lightning.

Nowadays, a huge portion of real Bitcoin transactions are happening over Lightning because of its speed and almost zero fees. It would make placing smaller bets (microbets) way more practical
Also, maybe even allow login/registration via Lightning using LNURL-auth.
LNURL-auth is like “Login with Google” or “Sign in with Twitter,” but for Bitcoin without email, passwords, or personal data.
You just click a button, scan a QR code with your Lightning wallet, and boom you’re instantly logged in or registered.

Looking forward to seeing how this evolves  best of luck and I’ll definitely be following the project!

[mamacoin5]

mmmmm, I won this and it was very close

lucky for me Foundry USA Pool mined the previous 2 blocks and not the 902000 block lol

Hah very well done malcovi2. Pay out has already been sent 

[gunhell16]

I have been in the crypto gambling field for a long time but I have only just seen this concept game whose basis is literally a prediction contest that is like a battle for whoever participates to win. , by the welcome to the blockrace on this platform.

Now I looked at your website op, and since it is my first time seeing games like this, my question is since the minimum bet is at least 10$ there are four that we can choose as mining pools, is any of them that we put 10$ in will it automatically mine our balance? It is not yet clear to me how the game mechanics really work. Because I seem to have seen for example if I choose ibet is on viabtc if my bet is 10$ the potential payout is 95$ which is big in reality, it seems like a ponzi scheme in my mind but I am not sure.

[mamacoin5]

Hey gunhell . I think you misunderstand the overall concept - you just bet which mining pool will hit a particular block. In the case scenario for ViaBTC you are describing, you would have lost your 10 USD as this particular block was hit by another pool .

[mamacoin5]

Really cool concept I love the idea of turning the mining race into a betting game, especially since it's built on verifiable Bitcoin data.

Just one suggestion that I think could take BlocksRace to the next level  consider integrating Bitcoin Lightning.

Nowadays, a huge portion of real Bitcoin transactions are happening over Lightning because of its speed and almost zero fees. It would make placing smaller bets (microbets) way more practical
Also, maybe even allow login/registration via Lightning using LNURL-auth.
LNURL-auth is like “Login with Google” or “Sign in with Twitter,” but for Bitcoin without email, passwords, or personal data.
You just click a button, scan a QR code with your Lightning wallet, and boom you’re instantly logged in or registered.

Looking forward to seeing how this evolves  best of luck and I’ll definitely be following the project!

Thank you BitGoba for the LNURL-auth suggestion. We will look into it. Between, stay tuned, by the end of this month we should release our next version of our app where you will be able to bet on many more outcomes and blocks through Lightning payments