Hacked[dot]com reports on the world's 1st Fully Decentralized Gambling Platform

[irfan_pak10]

Since going live on June 13, vDice has become the top ranked Google site for Ethereum gambling, having processed nearly 10,000 bets.

vDice.io, launched in June as the 1st FULLY decentralized gambling game. Running on the first programmable P2P network, vDice will host a crowdsale from Nov. 15 - Dec. 15. In exchange for Ether (ETH), investors will receive “vSlice” tokens, each of which is directly tied to the profits of the game. The “vSlice” token will regularly distribute profits of the vDice game to token holders.

This is really nice article written by Hacked [dot] com: vDice.io was featured on Hacked.com! vDice founder Jason Colby talks about vDice

Please let us know your reviews too.

Regards

[1714999752]

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[newIndia]

It seems vDice.io & KIBO are trying the same thing. But, I doubt people will ever embrace decentralized gambling, just like decentralized bitcoin exchanges have never got traction.

[RHavar]

There's already a thread for it here: https://bitcointalk.org/index.php?topic=1646783.0  in which you guys have been avoiding answering my technical concerns (see: https://bitcointalk.org/index.php?topic=1646783.msg16764426#msg16764426 )


Also who wrote your "business plan"?  The executive summary looks like it was hacked together in a few minutes:

vDice provides a home for great Ethereum Gambling Dapps. It is the promise of Ethereum
gambling, realised. That is, fully decentralized smart contracts, processing bets, without server
architecture and through an Oracle.

Bitcoin is the first blockchain. Bitcoin has a market cap. of around $10 billion. Bitcoin is huge for
gambling. Around 50-60% of ALL Bitcoin transactions are gambling.
You should expect similar results for Ethereum, very soon.

Ethereum is super powerful. With the Ethereum platform you can make gambling truly
decentralised.

At vDice we have no servers, no accounts, no deposits. You only trust the blockchain. The
Ethereum blockchain is the game, in many ways.

And is hilariously wrong. Not even close to 50% of all bitcoin transactions are gambling (I would probably know, I suspect in the last month my gambling site did the most volume of any bitcoin gambling site), and vDice relies on 3 different centralized services, all being single points of failures. Not particularly decentralized?


Anyway, good luck on your 10M USD () crowdsale!

[vdice_io]

There's already a thread for it here: https://bitcointalk.org/index.php?topic=1646783.0  in which you guys have been avoiding answering my technical concerns (see: https://bitcointalk.org/index.php?topic=1646783.msg16764426#msg16764426 )


Also who wrote your "business plan"?  The executive summary looks like it was hacked together in a few minutes:

vDice provides a home for great Ethereum Gambling Dapps. It is the promise of Ethereum
gambling, realised. That is, fully decentralized smart contracts, processing bets, without server
architecture and through an Oracle.

Bitcoin is the first blockchain. Bitcoin has a market cap. of around $10 billion. Bitcoin is huge for
gambling. Around 50-60% of ALL Bitcoin transactions are gambling.
You should expect similar results for Ethereum, very soon.

Ethereum is super powerful. With the Ethereum platform you can make gambling truly
decentralised.

At vDice we have no servers, no accounts, no deposits. You only trust the blockchain. The
Ethereum blockchain is the game, in many ways.

And is hilariously wrong. Not even close to 50% of all bitcoin transactions are gambling (I would probably know, I suspect in the last month my gambling site did the most volume of any bitcoin gambling site), and vDice relies on 3 different centralized services, all being single points of failures. Not particularly decentralized?


Anyway, good luck on your 10M USD () crowdsale!

Where do you get all your figures from. And all your other points are just wrong.

[vdice_io]

There's already a thread for it here: https://bitcointalk.org/index.php?topic=1646783.0  in which you guys have been avoiding answering my technical concerns (see: https://bitcointalk.org/index.php?topic=1646783.msg16764426#msg16764426 )


Also who wrote your "business plan"?  The executive summary looks like it was hacked together in a few minutes:

vDice provides a home for great Ethereum Gambling Dapps. It is the promise of Ethereum
gambling, realised. That is, fully decentralized smart contracts, processing bets, without server
architecture and through an Oracle.

Bitcoin is the first blockchain. Bitcoin has a market cap. of around $10 billion. Bitcoin is huge for
gambling. Around 50-60% of ALL Bitcoin transactions are gambling.
You should expect similar results for Ethereum, very soon.

Ethereum is super powerful. With the Ethereum platform you can make gambling truly
decentralised.

At vDice we have no servers, no accounts, no deposits. You only trust the blockchain. The
Ethereum blockchain is the game, in many ways.

And is hilariously wrong. Not even close to 50% of all bitcoin transactions are gambling (I would probably know, I suspect in the last month my gambling site did the most volume of any bitcoin gambling site), and vDice relies on 3 different centralized services, all being single points of failures. Not particularly decentralized?


Anyway, good luck on your 10M USD () crowdsale!

Where do you get all your figures from. All these figures are just wrong.

[RHavar]

Where do you get all your figures from.

Huh? You're the one citing figures:

(Around 50-60% of ALL Bitcoin transactions are gambling).

 Extraordinary claims require extraordinary evidence. But I can tell you, as someone who's been in the bitcoin gambling industry a while now, and currently running one of the most popular sites -- that this is nonsense.

And all your other points are just wrong.

Ok, it very well might be. Can you explain why?

[amacar2]

It seems vDice.io & KIBO are trying the same thing. But, I doubt people will ever embrace decentralized gambling, just like decentralized bitcoin exchanges have never got traction.

Actually i think people will love decentralize gambling and exchanges in future, and it is quite normal to not have much interest right now. Traders have already started looking for decentralized trading platform and there are also few developed but most of them are still in beta stage.

Talking about vdice, concept of decentralized gambling platform based on smart contract sound really nice idea and with more adoption towards ETH, people may start to realize vdice as best probably fair ethereum based gambling platform.

[vdice_io]

It seems vDice.io & KIBO are trying the same thing. But, I doubt people will ever embrace decentralized gambling, just like decentralized bitcoin exchanges have never got traction.

Actually, vDice already is LIVE and working.
vDice is the only blockchain gambling game doing that on Ethereum.

People will NOT know it is decentralized. They will use it because it is safer and better.

Bitcoin and blockchain show the importance of decentralization.

Now it is time to extend to other industries.

Wherever we can take out the middle-man it is good.
This includes exchanges and gambling platforms.

vDice does that.

We have developed proofs with our oracle.
These have on-blockchain betting times down to around 5s already (on test-net). Release is set for end of year, after peer-review.

Next year, we will compete with centralized services for speed and efficiency.
Then we will have all the advantages of decentralization, with none of the drawbacks.

So, people will use it because it is better. And with vDice they won't have to know it's decentralized.

[vdice_io]

It seems vDice.io & KIBO are trying the same thing. But, I doubt people will ever embrace decentralized gambling, just like decentralized bitcoin exchanges have never got traction.

Actually i think people will love decentralize gambling and exchanges in future, and it is quite normal to not have much interest right now. Traders have already started looking for decentralized trading platform and there are also few developed but most of them are still in beta stage.

Talking about vdice, concept of decentralized gambling platform based on smart contract sound really nice idea and with more adoption towards ETH, people may start to realize vdice as best probably fair ethereum based gambling platform.

Yes, we think so too.

And we are already live and working.
Our developers work very hard to make that happen.

[AcoinL.L.C]

It seems vDice.io & KIBO are trying the same thing. But, I doubt people will ever embrace decentralized gambling, just like decentralized bitcoin exchanges have never got traction.

Actually i think people will love decentralize gambling and exchanges in future, and it is quite normal to not have much interest right now. Traders have already started looking for decentralized trading platform and there are also few developed but most of them are still in beta stage.

Talking about vdice, concept of decentralized gambling platform based on smart contract sound really nice idea and with more adoption towards ETH, people may start to realize vdice as best probably fair ethereum based gambling platform.

Yes, we think so too.

And we are already live and working.
Our developers work very hard to make that happen.

Stop ignoring Ryan's comment. Where are your sources for your claims? The last time gambling made up anywhere close to the number of Bitcoin transactions you are claiming was the very early days of SatoshiDice. That was years ago.

Right now looks like another GBT/LIR scam (crowdraise obscene amount of money without actually having any costumers/idea of what you are doing).

[eternalgloom]

It seems vDice.io & KIBO are trying the same thing. But, I doubt people will ever embrace decentralized gambling, just like decentralized bitcoin exchanges have never got traction.

Talking about decentralized exchanges and marketplaces (Openbazaar), they just need more time for people to start using them.
As long as they are being actively developed, they still have every chance to grow and take over a big chunk of the market imo.

[AcoinL.L.C]

It seems vDice.io & KIBO are trying the same thing. But, I doubt people will ever embrace decentralized gambling, just like decentralized bitcoin exchanges have never got traction.

Talking about decentralized exchanges and marketplaces (Openbazaar), they just need more time for people to start using them.
As long as they are being actively developed, they still have every chance to grow and take over a big chunk of the market imo.

More time that goes on without users, less likely they will get users, they are just burning capital until they have users (run out of money, you close down). Especially when it comes to exchanges and marketplaces. There is no value in a marketplace that does not have a significant amount of people. This is why regardless of how shitty of customer service eBay/PayPal provides, they will always be king of the market. If I want to sell something, I want to get it in front of as many buyers as possible, likewise if I am a buyer I would prefer to purchase from a seller that has a long track record and in a market where there are multiple sellers competing for my business. With an exchange, you need liquidity, which is hard to offer if you have  a handful of users.


Being actively developed does not matter one bit. You could have the best product in the world and still not attract a single customer (and in vdice's case, they definitely do not have the best product. Onchain casinos have more attractive interfaces and provide much faster betting).


Right now all I see is a site that has under 7k total bets (for example, MoneyPot does 50-100 bets a second on average), and hasn't had a single bet placed in several hours. They do not have a customer base. Yet they are trying to raise an absurd amount of money. Its a complete money grab. Maybe they turn out to not be a scam, maybe not. This is just like LIR though, where either way you lose. You either buy in at valuation thats so high you have no floor and very short ceiling, or they run with your cash.

60MM tokens = 600k ETH valuation = nearly 9500 BTC (or $6.5MM). Obscene. Even more obscene is your "breakdown" of what funds are for. How does legal compliance take up 23% of 9500 BTC? That is beyond ridiculous and it sounds like you are putting down random numbers. And why is so much allocated for salaries? If you have developers on your team (which you should have) you should not need a whopping ~3700 BTC allotted for development on top of salaries.

I love that you also reference the sale of SatoshiDice, which is possibly the worst crypto deal ever seen (Hint: The people that purchased the site will never get close to their money back), and was made back in the heyday of Bitcoin. You are also using today's prices instead of the Bitcoin price back then (which would cut the valuation down significantly).

To top it off, your graphics on the forum post and on your crowdraise page actually look a lot like LIR. Funny world.



Note: Reposting this on your ICO page so that people can see it there to.

[TwitchySeal]

"Ultimately, we will turn vDice into the WordPressmoneypot of gamblingEtherum,”

Is this what you meant?

Edit after reading replies:
vdice and RHaver/Ahcoin, you all seem very confident the other is wrong, you're both in the gambling buisness, and you both have a bunch of money (I think?).  Seems like a good spot to make a large crypto wager if you can agree on a judge and some terms.  I bet Irfan would even cover it on his site.


BTC vs ETH throwdown

[AcoinL.L.C]

"Ultimately, we will turn vDice into the WordPressmoneypot of gamblingEtherum,”

Is this what you meant?

Edit after reading replies:
vdice and RHaver/Ahcoin, you all seem very confident the other is wrong, you're both in the gambling buisness, and you both have a bunch of money (I think?).  Seems like a good spot to make a large crypto wager if you can agree on a judge and some terms.  I bet Irfan would even cover it on his site.


BTC vs ETH throwdown

I am more than willing to put some BTC in a bet on this.

[vdice_io]

It looks like TechInAsia has picked up on the hacked piece.

Interest is growing in Asia for the decentralization of gambling.

https://www.techinasia.com/talk/blockchain-decentralizing-gambling



QUOTE FROM ARTICLE:

"How blockchain is decentralizing gambling:

Now there is a host of exciting new startups reimagining the gambling industry. They are decentralizing the entire structure and are building something truly new.

VDice is one example of such a startup. It is billed as the world’s first fully decentralized gambling platform. It went live this June and is already wildly popular amongst blockchain geeks. Using the Ethereum blockchain, they have leveraged Smart Contract technology and have created game codes that exist without a server. These games live on the Ethereum P2P network."

This was inspired from a piece in hacked.com it seems:

https://hacked.com/vdice-io-the-worlds-first-full-decentralized-gambling-platform-ethereum-or-blockchain-tech/

[ninjabiz]

There's already a thread for it here: https://bitcointalk.org/index.php?topic=1646783.0  in which you guys have been avoiding answering my technical concerns (see: https://bitcointalk.org/index.php?topic=1646783.msg16764426#msg16764426 )


Also who wrote your "business plan"?  The executive summary looks like it was hacked together in a few minutes:

vDice provides a home for great Ethereum Gambling Dapps. It is the promise of Ethereum
gambling, realised. That is, fully decentralized smart contracts, processing bets, without server
architecture and through an Oracle.

Bitcoin is the first blockchain. Bitcoin has a market cap. of around $10 billion. Bitcoin is huge for
gambling. Around 50-60% of ALL Bitcoin transactions are gambling.
You should expect similar results for Ethereum, very soon.

Ethereum is super powerful. With the Ethereum platform you can make gambling truly
decentralised.

At vDice we have no servers, no accounts, no deposits. You only trust the blockchain. The
Ethereum blockchain is the game, in many ways.

And is hilariously wrong. Not even close to 50% of all bitcoin transactions are gambling (I would probably know, I suspect in the last month my gambling site did the most volume of any bitcoin gambling site), and vDice relies on 3 different centralized services, all being single points of failures. Not particularly decentralized?


Anyway, good luck on your 10M USD () crowdsale!

Haha, 10M USD, let them dream, it will hardly raise 1M, although founder is famous in eth community.

[vdice_io]

There's already a thread for it here: https://bitcointalk.org/index.php?topic=1646783.0  in which you guys have been avoiding answering my technical concerns (see: https://bitcointalk.org/index.php?topic=1646783.msg16764426#msg16764426 )


Also who wrote your "business plan"?  The executive summary looks like it was hacked together in a few minutes:

vDice provides a home for great Ethereum Gambling Dapps. It is the promise of Ethereum
gambling, realised. That is, fully decentralized smart contracts, processing bets, without server
architecture and through an Oracle.

Bitcoin is the first blockchain. Bitcoin has a market cap. of around $10 billion. Bitcoin is huge for
gambling. Around 50-60% of ALL Bitcoin transactions are gambling.
You should expect similar results for Ethereum, very soon.

Ethereum is super powerful. With the Ethereum platform you can make gambling truly
decentralised.

At vDice we have no servers, no accounts, no deposits. You only trust the blockchain. The
Ethereum blockchain is the game, in many ways.

And is hilariously wrong. Not even close to 50% of all bitcoin transactions are gambling (I would probably know, I suspect in the last month my gambling site did the most volume of any bitcoin gambling site), and vDice relies on 3 different centralized services, all being single points of failures. Not particularly decentralized?


Anyway, good luck on your 10M USD () crowdsale!

Haha, 10M USD, let them dream, it will hardly raise 1M, although founder is famous in eth community.

We have no idea where this number comes from. Someone has just said it. And now it had become real.

[TwitchySeal]

There's already a thread for it here: https://bitcointalk.org/index.php?topic=1646783.0  in which you guys have been avoiding answering my technical concerns (see: https://bitcointalk.org/index.php?topic=1646783.msg16764426#msg16764426 )


Also who wrote your "business plan"?  The executive summary looks like it was hacked together in a few minutes:

vDice provides a home for great Ethereum Gambling Dapps. It is the promise of Ethereum
gambling, realised. That is, fully decentralized smart contracts, processing bets, without server
architecture and through an Oracle.

Bitcoin is the first blockchain. Bitcoin has a market cap. of around $10 billion. Bitcoin is huge for
gambling. Around 50-60% of ALL Bitcoin transactions are gambling.
You should expect similar results for Ethereum, very soon.

Ethereum is super powerful. With the Ethereum platform you can make gambling truly
decentralised.

At vDice we have no servers, no accounts, no deposits. You only trust the blockchain. The
Ethereum blockchain is the game, in many ways.

And is hilariously wrong. Not even close to 50% of all bitcoin transactions are gambling (I would probably know, I suspect in the last month my gambling site did the most volume of any bitcoin gambling site), and vDice relies on 3 different centralized services, all being single points of failures. Not particularly decentralized?


Anyway, good luck on your 10M USD () crowdsale!

Haha, 10M USD, let them dream, it will hardly raise 1M, although founder is famous in eth community.

We have no idea where this number comes from. Someone has just said it. And now it had become real.

You should read the business plan. (whoever wrote it is the one that made them up)

https://blog.vdice.io/wp-content/uploads/2016/10/vDice_Business_Plan_English.pdf

[irfan_pak10]

There's already a thread for it here: https://bitcointalk.org/index.php?topic=1646783.0  in which you guys have been avoiding answering my technical concerns (see: https://bitcointalk.org/index.php?topic=1646783.msg16764426#msg16764426 )


Also who wrote your "business plan"?  The executive summary looks like it was hacked together in a few minutes:

vDice provides a home for great Ethereum Gambling Dapps. It is the promise of Ethereum
gambling, realised. That is, fully decentralized smart contracts, processing bets, without server
architecture and through an Oracle.

Bitcoin is the first blockchain. Bitcoin has a market cap. of around $10 billion. Bitcoin is huge for
gambling. Around 50-60% of ALL Bitcoin transactions are gambling.
You should expect similar results for Ethereum, very soon.

Ethereum is super powerful. With the Ethereum platform you can make gambling truly
decentralised.

At vDice we have no servers, no accounts, no deposits. You only trust the blockchain. The
Ethereum blockchain is the game, in many ways.

And is hilariously wrong. Not even close to 50% of all bitcoin transactions are gambling (I would probably know, I suspect in the last month my gambling site did the most volume of any bitcoin gambling site), and vDice relies on 3 different centralized services, all being single points of failures. Not particularly decentralized?


Anyway, good luck on your 10M USD () crowdsale!

Haha, 10M USD, let them dream, it will hardly raise 1M, although founder is famous in eth community.

We have no idea where this number comes from. Someone has just said it. And now it had become real.

You should read the business plan. (whoever wrote it is the one that made them up)

https://blog.vdice.io/wp-content/uploads/2016/10/vDice_Business_Plan_English.pdf

can you quote that part?, because i also couldnt able to find that part.

[TwitchySeal]

There's already a thread for it here: https://bitcointalk.org/index.php?topic=1646783.0  in which you guys have been avoiding answering my technical concerns (see: https://bitcointalk.org/index.php?topic=1646783.msg16764426#msg16764426 )


Also who wrote your "business plan"?  The executive summary looks like it was hacked together in a few minutes:

vDice provides a home for great Ethereum Gambling Dapps. It is the promise of Ethereum
gambling, realised. That is, fully decentralized smart contracts, processing bets, without server
architecture and through an Oracle.

Bitcoin is the first blockchain. Bitcoin has a market cap. of around $10 billion. Bitcoin is huge for
gambling. Around 50-60% of ALL Bitcoin transactions are gambling.
You should expect similar results for Ethereum, very soon.

Ethereum is super powerful. With the Ethereum platform you can make gambling truly
decentralised.

At vDice we have no servers, no accounts, no deposits. You only trust the blockchain. The
Ethereum blockchain is the game, in many ways.

And is hilariously wrong. Not even close to 50% of all bitcoin transactions are gambling (I would probably know, I suspect in the last month my gambling site did the most volume of any bitcoin gambling site), and vDice relies on 3 different centralized services, all being single points of failures. Not particularly decentralized?


Anyway, good luck on your 10M USD () crowdsale!

Haha, 10M USD, let them dream, it will hardly raise 1M, although founder is famous in eth community.

We have no idea where this number comes from. Someone has just said it. And now it had become real.

You should read the business plan. (whoever wrote it is the one that made them up)

https://blog.vdice.io/wp-content/uploads/2016/10/vDice_Business_Plan_English.pdf

can you quote that part?, because i also couldnt able to find that part.

Sorry, I was reffering to 

Around 50-60% of ALL Bitcoin transactions are gambling.

That vDice responded to with:

Where do you get all your figures from. All these figures are just wrong.

It's true, the figure is wrong.  But it's from their own business plan.
I can't find any clear evaluation of their value in their business plan.