Please Explain Saratoshi Dice

[UncleBuckRIU]

Ok, so I understand most of it...

You go to the site.
Use one of the codes that randomly generates, and the odds of you winning should be written next to the code
That code goes into you blockchain account as an outgoing payment (here's my first question) how much do I bet?
Then once it sends off... How do you know if you won or lost... Seems like they are just stealing our money right?

[DannyHamilton]

It's Satoshi Dice, not Saratoshi Dice

how much do I bet?

However much you want. The minimum is 0.01 BTC.  The maximum is posted on the website for each of the odds.

How do you know if you won or lost...

The transactions are posted on the Satoshi Dice website along with an indication as to whether they won or lost.  If you win, Satoshi Dice will send your winnings back to you, so you'll see a transaction from SatoshiDice coming back into your wallet with the winning amount.  If you lose, Satoshi Dice will send 0.00000001 BTC back to you.  When you receive that 0.00000001 BTC transaction you know that they processed your bet and that you lost.

They post the calculation used to compute winners and losers on the website:

The lucky number used to determine the winner of games is simple. It is simply the first bytes of hmac_sha512(secert,txid:out_idx). That would be the secret string as the key and the transaction ID of your bet transaction as the data

You can wait a day, take a look at the "secret number" and perform the same exact calculation to verify that they didn't cheat and that your losing bet actually was a losing bet.  They post the hash of the "secret number" for every day for the next 10 years, that way you can verify tomorrow that the "secret number" they used actually is the "secret number" that they said they were going to use.

Seems like they are just stealing our money right?

Well, the odds are stacked in their favor, but they do tell you that up front (every single bet advertises a 98.1% expected return, that means in the long run you can expect to lose about 1.9% of the sum of all the winning and losing bets that you ever play).  Is that stealing, or is it the price of entertainment?  That really depends on your personal attitude towards gambling.

[UncleBuckRIU]

I placed 2 bets yesterday and got nothing back...

[UncleBuckRIU]

1dice9wcMu5hLF4g81u8nioL5mmSHTApw (SatoshiDICE 73% )
 
 2013-02-27 11:56:28

-0.0015 BTC



1dice9wVtrKZTBbAZqz1XiTmboYyvpD3t (SatoshiDICE 97% )
 
 2013-02-27 11:54:01

-0.00051 BTC

[DannyHamilton]

1dice9wcMu5hLF4g81u8nioL5mmSHTApw (SatoshiDICE 73% )
 
 2013-02-27 11:56:28

-0.0015 BTC

1dice9wVtrKZTBbAZqz1XiTmboYyvpD3t (SatoshiDICE 97% )
 
 2013-02-27 11:54:01

-0.00051 BTC

There are a LOT of Satoshi Dice transactions.  It would be easier to look into what happened if you could offer the transactionID or Bitcoin Address that was used as the "input".

[TraderTimm]

Its an elaborate delay-of-service attack, which you pay for in the time it takes to sync the bitcoin client for the first time, or when you need to get up to date after not running it for a while.

It is also responsible for 48% (and rising) of the total blockchain size right now. So when you play, you're actually harming yourself and other future bitcoin users.

Oh, and the creator(s) are totally aware of this, but think you dealing with it is a good thing.

Enjoy.

[Gradius]

I've played around with this briefly, but the system is designed for you to lose. Even if you win, on the lower risk bets, you lose because of transaction fee.

[DannyHamilton]

I've played around with this briefly, but the system is designed for you to lose.

That would be true of all gambling businesses.  They can't make a profit if they are designed for you to win.

[00null]

I've played around with this briefly, but the system is designed for you to lose.

That would be true of all gambling businesses.  They can't make a profit if they are designed for you to win.

But this does not mean that EVERY player has to lose. But, the longer you play, the more likely your net balance will be negative, because of the house edge.

[gnarcoinguy]

anyone know any good LTC gambling places?

[pentix]

1dice9wcMu5hLF4g81u8nioL5mmSHTApw (SatoshiDICE 73% )
 
 2013-02-27 11:56:28

-0.0015 BTC

1dice9wVtrKZTBbAZqz1XiTmboYyvpD3t (SatoshiDICE 97% )
 
 2013-02-27 11:54:01

-0.00051 BTC

min bet is 0.01btc
p.s. click on "Read this warning first" located right below step 3.

[mrp]

Remember, gambling is evil.

[TraderTimm]

Remember, gambling is evil.

Remember, inflating the blockchain is evil.

(fixed)

[Gabi]

If a single service is so dangerous that it will kill bitcoin with this blockchain inflation then bitcoin has serious flaws.

[DannyHamilton]

If a single service is so dangerous that it will kill bitcoin with this blockchain inflation then bitcoin has serious flaws.

Where did that come from?  I don't see anything in this thread about "killing bitcoin with blockchain inflation".  Your FUD is ridiculous. Please find some other thread to make your alarmist claims.

[Gabi]

If a single service is so dangerous that it will kill bitcoin with this blockchain inflation then bitcoin has serious flaws.

Where did that come from?  I don't see anything in this thread about "killing bitcoin with blockchain inflation".  Your FUD is ridiculous. Please find some other thread to make your alarmist claims.

Wtf?

I was replying to TraderTimm, he says that inflating the blockchain is evil and blablabla. I am saying that no, it is not evil, and no it will not kill bitcoin. And no it is not harming the future of bitcoin. Because, as i said, it is not so easy to kill bitcoin. If bitcoin is so weak that satoshidice is more than enough to kill it then something is wrong.

[Blazr]

Wtf?

I was replying to TraderTimm, he says that inflating the blockchain is evil and blablabla. I said that no, it is not evil, and no it will not kill bitcoin. And no it is not harming the future of bitcoin. Because, as i said, it is not so easy to kill bitcoin. If bitcoin is so weak that satoshidice is more than enough to kill it then something is wrong.

I still don't understand why SatoshiDice insists on wasting network resources when they don't need to at all. I mean, OK, I get it, they can do whatever they want as long as they pay the tx fees, but seriously, why not just use bitcoin properly instead of taking up space on my HDD and using up all of my bandwidth. Now we're hitting the block soft limit, and the culprit is SDice and their spammy wasteful transactions, and the number of nodes is dropping due to all the resources SDice wastes.

[Gabi]

I suppose because they can.  If satoshidice alone is filling our hard disks and connections then we better find a way to fix it now, or there is no way we can deal with more bitcoin adoption.

[Blazr]

I suppose because they can.  If satoshidice alone is filling our hard disks and connections then we better find a way to fix it now, or there is no way we can deal with more bitcoin adoption.

Here is the thing: Bitcoin doesn't scale too well and isn't ready for that kind of adoption, the network isn't nearly capable of handling a lot of transactions, Satoshi was of the opinion that we need to let the network grow slowly and make changes as we go along and I definitely agree, all of this stress on the network isn't good at all and is going to start causing problems right about now.

[bitcoin911]

anyone know of a free gambing site like that?  not to play, I mean free script