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Alanay (OP)
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July 08, 2016, 12:26:49 AM |
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The game itself while unfinished can be completed within 2 days, we have many inspirations for themes and functions as well as the site's main functionality all thought up. Everything is set to go, we have a name. I haven't bought the domain yet but once I find an investor I'll do that ASAP.
Why do we need an investor? Our game intentionally was going to be PvP where the house would take 1% from all pots giving players 50/50 chances with -0.5% profit (other -0.5% comes from their actual bet totaling at 1% as mentioned). Now we think it would be easier and faster if we allow players to just bet against a house edge of 1%. Players choose heads or tails, if the outcome is there guess they obviously win. House edge will remain at 1% always. So, anyway back to the reason we need an investor, it's because we need a bankroll. Not something too major, for the beginning anywhere from 50-100 BTC should work well enough. If we start making traffic fast, and we have a marketing plan so that could very well happen, then that will need to be raised. And the investor would need to agree to raise it should it be required.
Myself and my partner will take 25% each, with the investor bringing home a nice 50% to glare at.
So just to clarify, we only need an investor for the bankroll and possibly hosting if the traffic becomes overwhelming. This at the beginning can range from 50-100 BTC, you must agree to be able to raise it up to 500 BTC. If you think you can't do that then we can limit bets but we'd prefer not to. We will not take the BTC from you until the website is finished and functional. =)
Suggestions/criticism wanted.
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CTO@MyBitMine
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July 08, 2016, 08:53:38 AM |
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"nothing too major, we just need 50-100 BTC" LOL
Can you please let me know more about your system?
What will attract people to your website?
What's the reason for not going the pvp route (not enough programming experience?)
What is your marketing strategy?
How are you setting up your provably fair system?
Just a few questions I'm sure most of us want to know.
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eternalgloom
Legendary
 Offline
Activity: 1792
Merit: 1283
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July 08, 2016, 09:31:51 AM |
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Would it be possible for you to use Moneypot to provide you with a bankroll and still be able to make it work with your custom game?
If not, I would launch the site with your own funds and make it so the maximum bets are fairly low and accept investment on the website itself (with decent stats etc.).
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ripplehd
Full Member
Offline
Activity: 154
Merit: 100
★YoBit.Net★ 350+ Coins Exchange & Dice
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July 08, 2016, 10:08:50 AM |
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might need to try getline over there borrowers asking up to 10btc so start of small and as 50btc is a huge amount I don't think you'll get that. The best and Only possible way is by having a good rep/trust and portfolio of you paying back loans with interest on time.
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poordeveloper
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July 08, 2016, 10:10:50 AM |
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I'm afraid it'll be difficult for anyone to trust you with 100 BTC with a newly created account...
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Raimonn
Legendary
Offline
Activity: 1456
Merit: 1001
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July 08, 2016, 11:09:39 AM |
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Would it be possible for you to use Moneypot to provide you with a bankroll and still be able to make it work with your custom game?
If not, I would launch the site with your own funds and make it so the maximum bets are fairly low and accept investment on the website itself (with decent stats etc.).
Using moneypot as bankroll would be a good solution for them, also could gain users from other moneypot apps. And i think its very difficult that someone invest from 50 to 100 Btc without knowing the developers of the game. |
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Alanay (OP)
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July 08, 2016, 11:39:19 AM |
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"nothing too major, we just need 50-100 BTC" LOL
Can you please let me know more about your system?
What will attract people to your website?
What's the reason for not going the pvp route (not enough programming experience?)
What is your marketing strategy?
How are you setting up your provably fair system?
Just a few questions I'm sure most of us want to know.
We can't expect any large amount of players to play our game with a bankroll under 50 BTC. Imagine if Facebook only allowed 10,000 users to be logged in at any given time. Players will create their own strategies and scripts which they can sell or giveaway on forums which introduces the game to new people and encourages them to try it. We can still do PvP if we really wanted but it would be a lot more work and match-making could be an issue. We will do giveaways for people to wear our signature on different forums as well as encouraging players to make strategies/scripts threads which directly advertises the game for us. Every 5 seconds a new hash will be created, it will be heads or tails. If the hash is heads and you click heads within 5 seconds you win. If the countdown continues on you could get heads again or tails. I believe we will be using SHA256. |
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CTO@MyBitMine
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July 08, 2016, 11:50:43 AM |
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"nothing too major, we just need 50-100 BTC" LOL
Can you please let me know more about your system?
What will attract people to your website?
What's the reason for not going the pvp route (not enough programming experience?)
What is your marketing strategy?
How are you setting up your provably fair system?
Just a few questions I'm sure most of us want to know.
We can't expect any large amount of players to play our game with a bankroll under 50 BTC. Imagine if Facebook only allowed 10,000 users to be logged in at any given time. Players will create their own strategies and scripts which they can sell or giveaway on forums which introduces the game to new people and encourages them to try it. We can still do PvP if we really wanted but it would be a lot more work and match-making could be an issue. We will do giveaways for people to wear our signature on different forums as well as encouraging players to make strategies/scripts threads which directly advertises the game for us. Every 5 seconds a new hash will be created, it will be heads or tails. If the hash is heads and you click heads within 5 seconds you win. If the countdown continues on you could get heads again or tails. I believe we will be using SHA256. Players will create their own strategies and scripts which they can sell or giveaway on forums which introduces the game to new people and encourages them to try it. - This does not set you apart from other websites that are doing the exact same thing. What are YOU doing to make YOUR game different. Not what is your community doing to make their experience different. We can still do PvP if we really wanted but it would be a lot more work and match-making could be an issue. - PvP will not take a lot longer to make and match-making is not an issue. just some simple NodeJS will get you setup in a day or 2  NOTE: I am not trying to crap on your idea but understand that people need more concrete info.. Getting a bit sick of the amount of "looking for investor" threads popping up with next to no info in them. And I'm sure the rest of the forum is too. |
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Alanay (OP)
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July 08, 2016, 12:00:20 PM |
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"nothing too major, we just need 50-100 BTC" LOL
Can you please let me know more about your system?
What will attract people to your website?
What's the reason for not going the pvp route (not enough programming experience?)
What is your marketing strategy?
How are you setting up your provably fair system?
Just a few questions I'm sure most of us want to know.
We can't expect any large amount of players to play our game with a bankroll under 50 BTC. Imagine if Facebook only allowed 10,000 users to be logged in at any given time. Players will create their own strategies and scripts which they can sell or giveaway on forums which introduces the game to new people and encourages them to try it. We can still do PvP if we really wanted but it would be a lot more work and match-making could be an issue. We will do giveaways for people to wear our signature on different forums as well as encouraging players to make strategies/scripts threads which directly advertises the game for us. Every 5 seconds a new hash will be created, it will be heads or tails. If the hash is heads and you click heads within 5 seconds you win. If the countdown continues on you could get heads again or tails. I believe we will be using SHA256. Players will create their own strategies and scripts which they can sell or giveaway on forums which introduces the game to new people and encourages them to try it. - This does not set you apart from other websites that are doing the exact same thing. What are YOU doing to make YOUR game different. Not what is your community doing to make their experience different. We can still do PvP if we really wanted but it would be a lot more work and match-making could be an issue. - PvP will not take a lot longer to make and match-making is not an issue. just some simple NodeJS will get you setup in a day or 2 NOTE: I am not trying to crap on your idea but understand that people need more concrete info.. Getting a bit sick of the amount of "looking for investor" threads popping up with next to no info in them. And I'm sure the rest of the forum is too. I understand, and I'll try to answer those questions. I didn't know so many other sites were already doing something similar to this, but other than paid advertising and what we've already mentioned there's not a lot else we can do. There is another idea on how we can make gambling seem more worth it to the players, but I won't disclose it yet as it's not my idea. The owner of Bustabit will be trying this idea out on his site within the next month, if it does well I'll ask him if we could do something similar. You're right, it wouldn't be much more work to do PvP, and match-making wouldn't be too bad as long as we have a good amount of active players. But even so people want to be sure as soon as they go on the site they can play without delay. If I had an urge to gamble 10 BTC in one go there won't be a whole lot of people willing to be 10 BTC at that same time. Any other questions very welcome. |
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sdp
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July 08, 2016, 12:05:19 PM |
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I can buy the domain and host. I want to see some revenue from it though. Put a house edge at 5% and you can keep 2% and I will keep 3%. Could you start with an altcoin? The market is tiny enough in bitcoin but the fees in altcoins are miniscule. You can bankroll with ten dollars if you use Dogecoin. In fact, if you ask me nicely I will give you 100k test dogecoins. This should be a good way to get people started. For a captcha give them a thousand to gamble away. If we get enough traffic we switch to real dogecoins. If there is revenue this way we can switch to bitcoins.
Have you talked to a lawyer about this kind of business?
sdp
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Coinsbank: Left money in their costodial wallet for my signature. Then they kept the money.
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Alanay (OP)
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July 08, 2016, 12:13:33 PM |
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I can buy the domain and host. I want to see some revenue from it though. Put a house edge at 5% and you can keep 2% and I will keep 3%. Could you start with an altcoin? The market is tiny enough in bitcoin but the fees in altcoins are miniscule. You can bankroll with ten dollars if you use Dogecoin. In fact, if you ask me nicely I will give you 100k test dogecoins. This should be a good way to get people started. For a captcha give them a thousand to gamble away. If we get enough traffic we switch to real dogecoins. If there is revenue this way we can switch to bitcoins.
Have you talked to a lawyer about this kind of business?
sdp
I am willing to use an alt coin. I'd prefer to use Ether if not then Doge. House edge at 5% may not go down so well with the players but I'd be willing to give it a shot. I haven't talked to any lawyers, I know that online gambling is illegal in some countries though, if we do well enough and want to create a business it will most likely be established as a Costa Rican gaming company. Depending on which coin we use I may have a good name for the domain, PM me and we can discuss it further. |
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cloverme
Legendary
Offline
Activity: 1512
Merit: 1054
SpacePirate.io
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July 08, 2016, 12:35:24 PM |
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It looks like you want to put some honest effort into it, but you're asking for a lot of money and trust as well. You might have a difficult time getting those funds given some of the scams that have happened in the past. You may run into issues getting a hosting arrangement as well, many of the top hosting companies (Amazon, Microsoft, etc) don't allow gambling sites so you'll have to host offshore. You'll need a provably fair system as well to prove to players that you're not cheating (server seed, client seed, and flip data) hashed before the game. Keep going though, your idea might be a valid one but you've got a lot of work ahead of you.
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Alanay (OP)
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July 08, 2016, 12:40:25 PM |
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It looks like you want to put some honest effort into it, but you're asking for a lot of money and trust as well. You might have a difficult time getting those funds given some of the scams that have happened in the past. You may run into issues getting a hosting arrangement as well, many of the top hosting companies (Amazon, Microsoft, etc) don't allow gambling sites so you'll have to host offshore. You'll need a provably fair system as well to prove to players that you're not cheating (server seed, client seed, and flip data) hashed before the game. Keep going though, your idea might be a valid one but you've got a lot of work ahead of you.
Thank you. I already have a gambling project about 60-70% done, which is using MoneyPot. This project is to fill my time until that is completed so I can help maintain it. I will try to find a way to use an investor's bank roll without having control of their wallet so they won't have to trust me. Our host will likely be https://www.gandi.net/ |
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hatshepsut93
Legendary
Offline
Activity: 2968
Merit: 2145
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July 10, 2016, 08:32:37 AM |
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There are tons of dice sites, it would be hard to compete against them for you, but I think that PVP gambling is the future of Bitcoin gambling, it could start with simple games like coin flip or rock-paper-scissors and develop into complex strategy games and so on.
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Alanay (OP)
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July 10, 2016, 06:36:59 PM |
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There are tons of dice sites, it would be hard to compete against them for you, but I think that PVP gambling is the future of Bitcoin gambling, it could start with simple games like coin flip or rock-paper-scissors and develop into complex strategy games and so on.
It's not impossible to do well enough for this project to be worth finishing though. I would love to still do a PvP game, it's hard finding an experience enough developer to help me with it though. |
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CoinBreader
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July 10, 2016, 11:43:22 PM |
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The game itself while unfinished can be completed within 2 days,
So, anyway back to the reason we need an investor, it's because we need a bankroll. Not something too major, for the beginning anywhere from 50-100 BTC should work well enough.
Myself and my partner will take 25% each, with the investor bringing home a nice 50% to glare at.
So just to clarify, we only need an investor for the bankroll and possibly hosting if the traffic becomes overwhelming. This at the beginning can range from 50-100 BTC, you must agree to be able to raise it up to 500 BTC.
New member asking for 50-100btc to invest, on a unfinished ,untested project,and it can be finished in 2 days ...(much time for testing for bugs) with not even a domain reserved, plus asking 50% for both of the devs. So you dont have the money, and it sounds you dont even believe in your project.. you release that you will not find a investor right ? hand you that amount..especially with halving hype/event |
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Alanay (OP)
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July 11, 2016, 10:13:00 AM |
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The game itself while unfinished can be completed within 2 days,
So, anyway back to the reason we need an investor, it's because we need a bankroll. Not something too major, for the beginning anywhere from 50-100 BTC should work well enough.
Myself and my partner will take 25% each, with the investor bringing home a nice 50% to glare at.
So just to clarify, we only need an investor for the bankroll and possibly hosting if the traffic becomes overwhelming. This at the beginning can range from 50-100 BTC, you must agree to be able to raise it up to 500 BTC.
New member asking for 50-100btc to invest, on a unfinished ,untested project,and it can be finished in 2 days ...(much time for testing for bugs) with not even a domain reserved, plus asking 50% for both of the devs. So you dont have the money, and it sounds you dont even believe in your project.. you release that you will not find a investor right ? hand you that amount..especially with halving hype/event You should really try structuring your sentences more clearly. Anyway, I am NOT a new member. I registered over 2 years ago. Not sure how that's new. First build can be finished within 2 days, which does not include bug/stress testing. Domains are easy to get. What's wrong with 50% total for both developers? I don't just give up on projects, I have one with an investor which is almost finished. I'm looking for a different investor this time around to get a better cut. That's all. |
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PinkLlama
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July 12, 2016, 10:40:07 AM |
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You're not going to get any investors. You're asking for $32,530-65,070 for something you don't even have a demo of.
The gambling market is quite saturated and you're going to need much more money to actually advertise your way to the top. Me and my team are progressing quite well with our site, which partially includes a coinflip game. I suggest working this thing out a bit more before asking for such large amounts of investments.
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Developing great Bitcoin tools for the community
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sdp
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July 13, 2016, 01:56:40 PM |
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Well.... I am thinking I will write my own game and I will bankroll ten dollars in doge coin for it. Maybe someone will get lucky and bankrupt the game but then I will get more by working...
sdp
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Coinsbank: Left money in their costodial wallet for my signature. Then they kept the money.
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Alanay (OP)
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July 14, 2016, 07:22:42 PM |
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You're not going to get any investors. You're asking for $32,530-65,070 for something you don't even have a demo of.
The gambling market is quite saturated and you're going to need much more money to actually advertise your way to the top. Me and my team are progressing quite well with our site, which partially includes a coinflip game. I suggest working this thing out a bit more before asking for such large amounts of investments.
Do you think that investors expect a demo of a triple A title game before they invest into their parent company?... As I've already said I'm looking for a way for the game to use a wallet without us having control over the investor's bankroll. And they can of course have a friend look over the code so they know it's not going to steal anything or be vulnerable to attacks. I can make the demo no problem, but I don't want to spend more time on this unless I have an investor. Otherwise I have studying and work on my current gambling project to do. Also you missed my reasoning for the "large" investment. It might be large for regular people but not for professional investors. My reason for it being large was because if the game does become popular nobody will play with such a low bankroll and if they do it's gonna take an even longer period of time to see some substantial profit. |
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