SatoshiDICE hit 1,000,000 bets today

[evoorhees]

Today, SatoshiDice reached 1,000,000 bets.

I think it's undeniably proven the amazing power of Bitcoin when applied to just one industry - online gambling.

[1714181896]

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[1714181896]

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[totaleclipseofthebank]

Nice job!

So with an average bet of 0.1btc you've made about 1500btc?

[Maged]

Nice job!

So with an average bet of 0.1btc you've made about 1500btc?

At the moment, they've made 4699.61641731 BTC.

[finkleshnorts]

Congrats! Such an innovative and brilliant use of bitcoin. Huge fan, though I don't really gamble. Keep churning those ideas out

And I'm very thankful satoshidice's testing of the network.

[drakahn]

Which tx was the 1000000th?

[Gabi]

Wow, great job!

[dissipate]

Some people must be using betting bots.   

[Tril]

Satoshidice made me more likely to spend bitcoins: I no longer feel guilty about bloating the blockchain by sending a small amount of coins now and then.  It's insignificant compared to the amount SD wastes!

[FreeMoney]

Satoshidice made me more likely to spend bitcoins: I no longer feel guilty about bloating the blockchain by sending a small amount of coins now and then.  It's insignificant compared to the amount SD wastes!

rofl, so sometimes you "think, gee I'd love to buy those socks, but it'll be like 300 bytes..."

[totaleclipseofthebank]

Nice job!

So with an average bet of 0.1btc you've made about 1500btc?

At the moment, they've made 4699.61641731 BTC.

Wow so avg. bet is more like BTC0.3

The worst (best?) thing about these gambling services are that they are right on your computer all the time.

Its like having a roulette table, blackjack table and lottery linked to your bank account and set up at your office desk 24/7!

[BkkCoins]

Nice job!

So with an average bet of 0.1btc you've made about 1500btc?

At the moment, they've made 4699.61641731 BTC.

Wow. That's a big jump from a week or two back when I saw only 2200 BTC.
Imagine if you could inspect a Vegas gambling house's books...

[BkkCoins]

Its like having a roulette table, blackjack table and lottery linked to your bank account and set up at your office desk 24/7!

I'm not tempted as I'm not in a cubicle but it must be awful for those that feel like rolling the dice when they come back from the toilet. And not only that but you don't even have to visit some gambling site. Just your wallet.

Which reminds me of the Dice Man books.

[ldrgn]

If you're interested in Satoshi Dice be sure to check out this thread https://bitcointalk.org/index.php?topic=80312.0 . Doogius has done an excellent job keeping it updated and posting analysis of the blockchain.

[apetersson]

i really had not anticipated this volume and i am suprised you managed to scale the software, the confirmations, the crypto etc. good job.

congratulations! i'd say celebrate. your earnings are well deserved and i hope you will invest them into more bitcoin projects

[WikileaksDude]

Pretty amazing achievement, now lets go for 5,000,000 lol.

[Stephen Gornick]

I think it's undeniably proven the amazing power of Bitcoin when applied to just one industry - online gambling.

It isn't just the power of bitcoin, it is the power of cryptography.  The problem that SatoshiDICE solves is there was no previous easy to use online wagering service that is not only provably fair but gives an especially high payout compared to other online wagering services.  

SatoshiDICE isn't the first to be provably fair though.  

BitLotto was among the first to use the transaction hash in the blockchain as the value that determines whether the bet wins or not.  

What SatoshiDICE did different though was it figured out how to do instant payouts.  Because the payout uses for the transaction's input the wager transaction itself, there is no risk of paying out using funds that won't confirm.   That was quite an innovation and now one million wagers later, it has proven its value.

There are a couple other "provably fair" wagering systems (including bitZino), but they don't all use a blockchain transaction hash so it is harder to verify.  With SatoshiDICE, I can still go in a year from now for instance and use the blockchain plus the hash keys file to verify that every single wager ever made to SatoshiDICE was indeed processed properly as far as win/loss status and verify that the payouts were successfully sent.

Disruptive innovations are defined as being at least ten times better than existing solutions.  With a 1.5% house advantage versus 4% to 8% or more for Vegas casinos, SatoshiDICE is pretty close to qualifying as one.

[terrytibbs]

all hail satoshi thank you for increasing the blockchain size etc etc

[TTBit]

I am surprised that SatoshiDice took off -- people who are smart enough to understand cryptology and coding dice bots not understand the logical end of a martingale system?

congrats on the #1 hit. I'm sure the price increase has plenty to do with every successful application such as satoshi dice, and we all should be thankful.

[fcmatt]

Congrats!!! Never used it yet but tempted. Very jealous tho!

[Melbustus]

I am surprised that SatoshiDice took off -- people who are smart enough to understand cryptology and coding dice bots not understand the logical end of a martingale system?

I'm a software developer, living in Vegas... There are plenty of smart people who enjoy a little negative expectation gambling. I stick to poker (the real kind - against other humans) personally, but people get a kick out of the variance of gambling that's worth the house rake (which is under 4% for a lot of Vegas slot machines, btw; and Blackjack, playing a well-known basic-strategy is often as low as 1.5%).

SatoshiDice is pretty cool (though I haven't personally played).... Thanks for the explanation, S. Gornick...very interesting.

And congrats to the operators on the 1M transactions.