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Author Topic: ChipMixer.com betting is now provably fair  (Read 1640 times)
ChipMixer
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June 26, 2017, 01:31:38 PM
 #21

How much btc is on your website for mixing? Because if it is not large enough than you cannot mix coins for large bets.
The highest chip value you can bet is 128 mBTC. Our "bankroll" is much, much higher.

Anyways i've seen that tjere's so many promoting also this casino. Hope rhis one become popular
We are not a casino. Casino's goal is to provide fun and addicting way of spending percentage of your coins. Our goal is to increase users privacy in which betting makes mixer's output unpredictable. We are not against casinos, we have different goals.

I was referring to a fair betting system by saying standard.
You can either verify your bets or not I dont think there is something you can do to go above standard Cheesy
But no one can trust your site as long as you are not provably fair.
In our defence we did not expect betting function to be that popular. It was just an extra way to improve privacy whenever you use it or not. But then people went with whole double my bitcoins routine and improvements for betting was inevitable.

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June 28, 2017, 05:13:27 AM
 #22

How much btc is on your website for mixing? Because if it is not large enough than you cannot mix coins for large bets.
The highest chip value you can bet is 128 mBTC. Our "bankroll" is much, much higher.

If you said your bankroll is much much higher why only limited us 0.128 btc only for the highest bet? This is pretty low for "much much bankroll". This is pretty absurd when you have great bankroll but only to let us play as 0.128 btc as max bet

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June 29, 2017, 09:54:31 PM
 #23

Wow, I never knew that a mixing site could make a gambling site! Thats really nice OP, it's a good way to keep it cool here in the gambling sections. It is nice since I have not seen anything like this int past. I guess people will surely try out this function whenever they are mixing their coins. It's good also that you implemented provably fair games. Good luck OP
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June 29, 2017, 10:12:45 PM
 #24

I guess I somewhat understand the point of this.

For starts since its a mixing service, it obviously has the capital to pay out everybody since their BTC cold storage is large.

Secondly is that for most people the only way to mix is to split the amounts. Because if you mix 1 BTC, and 5 minutes later 1 BTC minus fees arrives somewhere else, then it can be easily traceable.

So you have to split them and when you split them with different time frames its very difficult if not impossible to detect the destination. What this site does is, instead of splitting you can just gamble it away, so if you gamble away 20% of your deposit, it will be hard to track the other 80%. Or you can be lucky and win 20% and in the same way would be difficult to track.

I with this site and service luck.

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June 30, 2017, 01:13:54 AM
 #25

Since today all of our bets are now provably fair with a chance of doubling your chip equals 15 out of 32 (which is around 47%).
Does this mean house edge is more than 5%  Shocked If yes than that is really huge and I don't think any wise guy will bet on your platform. I don't think gambling and mixing mix well however I have to say what you have developed is awesome and quite unique and easy to use mixing service.

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July 01, 2017, 11:57:33 PM
 #26

I haven't tried your site, but I've read through how it works and am rather impressed by it all.

Well done =)

Do you see their new offering in the gambling world some competative competition to your site ryan?

Maybe a nyan called chipper perhaps. Cheesy

Just kidding mate! Wink
Everybody just loves you site. Which I have always thought it was an offshoot of Moneypot.
I think I asked you once if you were a former owner of that league of gambling sites. Undecided
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July 02, 2017, 12:21:04 AM
 #27

Do you see their new offering in the gambling world some competative competition to your site ryan?

I'm not really much of a competitive person, I think it's great for the industry when there's more fair and honest gambling options.

Slightly off topic. But it also goes into why I think their house-edge is totally reasonable:

When someone goes to a casino, their intention is to gamble. If they win, they'll probably just gamble more. That's why I don't think from a business perspective an online casino will see a huge difference in revenue between having a 0.2% house edge and a 1% house edge (other than you can't offer as big limits sanely) as I suspect on a 0.2% edge site (e.g. like bustabit's historical average) people will tend to gamble ~5x as much as a 1% edge site (as people tend to be loss constrained).

But a site like chipmixer, I think the draw is clearly for privacy/mixing and gambling is just an add-on to improve that. So I suspect there's not going to be much turnover of the same money (if you win, you'll probably just withdraw immediately), so to sanely be able to offer it -- it makes sense to have a higher house edge.


For reference, for every 1 BTC someone's deposited at bustabit they've on averaged turned it over 18.78 times and then left with 0.96 BTC. Without such a high turn over, there's no real way I could really be paying the bills with such a low edge.


Anyway, I think what chipmixer is doing is pretty cool. I really like their idea of giving you a private key (instead of sending you money) so you can spend link it with your wallet and throw off any analytics. It's all pretty neat  Grin
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July 04, 2017, 06:56:02 PM
 #28

Since today all of our bets are now provably fair with a chance of doubling your chip equals 15 out of 32 (which is around 47%).
Does this mean house edge is more than 5%  Shocked If yes than that is really huge and I don't think any wise guy will bet on your platform. I don't think gambling and mixing mix well however I have to say what you have developed is awesome and quite unique and easy to use mixing service.

In the future if there is enough interest then will probably lower the house edge, they are probably keeping it high because they want their main mode of business to be the mixing service and not people just betting on dice.

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July 04, 2017, 08:02:24 PM
 #29

New features added and looks like the betting one is interesting i thought that this is only for mixing but you added a gambling style mixing..
Well i think it is good idea and more people will be interested about a new feature since many of bitcoin users are always want to gamble to double their bitcoins..

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July 04, 2017, 08:49:01 PM
 #30

I read through this thread and in general everyone seems to be quite impressed by this mix (no pun intended) of mixing coins and gambling.
But have anyone actually tested this gambling while mixing thing and can share the first-hand opinion about this service? Worth or not?
3% House Edge seems kinda high considered that standard minimum mixing fee is  0.5% plus 0.0005 for every forward address.




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July 04, 2017, 09:01:08 PM
 #31

I read through this thread and in general everyone seems to be quite impressed by this mix (no pun intended) of mixing coins and gambling.
But have anyone actually tested this gambling while mixing thing and can share the first-hand opinion about this service? Worth or not?
3% House Edge seems kinda high considered that standard minimum mixing fee is  0.5% plus 0.0005 for every forward address.


You are talking about the wrong mixer. ChipMixer doesn't require you to pay any fees, and you can get multiple chips of Bitcoin without paying an additional fee.

Gambling isn't there for hardcore gamblers to play a lot with, but rather for people that might be mixing coins and want to try to throw people trying to track their Bitcoin off by ending with more BTC than they deposited.

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July 04, 2017, 10:31:24 PM
 #32

New features added and looks like the betting one is interesting i thought that this is only for mixing but you added a gambling style mixing..
Well i think it is good idea and more people will be interested about a new feature since many of bitcoin users are always want to gamble to double their bitcoins..
hard to give a shot on this since i usually use a mobile version.
and the site has terrible mobile version , it is not fit on my android smartphone , everything just looks messed up Sad.
and sometimes there's a captcha that i cannot even read it and fill anything there because of it was covered . so i am not sure what feature it is Huh
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July 04, 2017, 11:50:45 PM
 #33

New features added and looks like the betting one is interesting i thought that this is only for mixing but you added a gambling style mixing..
Well i think it is good idea and more people will be interested about a new feature since many of bitcoin users are always want to gamble to double their bitcoins..
hard to give a shot on this since i usually use a mobile version.
and the site has terrible mobile version , it is not fit on my android smartphone , everything just looks messed up Sad.
and sometimes there's a captcha that i cannot even read it and fill anything there because of it was covered . so i am not sure what feature it is Huh
You should use 3rd party browser like google chrome and let see if you can see the whole site fit to your mobile if not you can setup your browser to fit to your phone and let see if you can use the new feature of chipmixer and now its a well known mixer..
The added feature is interesting i just curious let see if someone test it and give some feedback .. i never heard a mixer that there is gambling feature.
Chipmixer is always making unique mixing and the good thing there you can only just donate you don't need to pay for a fee..

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July 05, 2017, 03:47:53 AM
 #34

Slightly off topic. But it also goes into why I think their house-edge is totally reasonable:

When someone goes to a casino, their intention is to gamble. If they win, they'll probably just gamble more. That's why I don't think from a business perspective an online casino will see a huge difference in revenue between having a 0.2% house edge and a 1% house edge (other than you can't offer as big limits sanely) as I suspect on a 0.2% edge site (e.g. like bustabit's historical average) people will tend to gamble ~5x as much as a 1% edge site (as people tend to be loss constrained).

But a site like chipmixer, I think the draw is clearly for privacy/mixing and gambling is just an add-on to improve that. So I suspect there's not going to be much turnover of the same money (if you win, you'll probably just withdraw immediately), so to sanely be able to offer it -- it makes sense to have a higher house edge.


For reference, for every 1 BTC someone's deposited at bustabit they've on averaged turned it over 18.78 times and then left with 0.96 BTC. Without such a high turn over, there's no real way I could really be paying the bills with such a low edge.


Anyway, I think what chipmixer is doing is pretty cool. I really like their idea of giving you a private key (instead of sending you money) so you can spend link it with your wallet and throw off any analytics. It's all pretty neat  Grin
Thanks RHavar for this detail analysis , I haven't thought in this way.  Chipmixer is providing mixing service for free and if they keep on losing with their betting option than we might actually loss a pretty unique mixing service which is really useful and easy to use.

I have donated few mBtc before there and would like to request others to do same so that we can have them alive for longer time.

Chipmixer, can you add one small feature to send session details to email we like? This can help us to easily track back our mixing process, some browser might loss session details after few hours.

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July 05, 2017, 02:01:21 PM
 #35

Slightly off topic. But it also goes into why I think their house-edge is totally reasonable:

When someone goes to a casino, their intention is to gamble. If they win, they'll probably just gamble more. That's why I don't think from a business perspective an online casino will see a huge difference in revenue between having a 0.2% house edge and a 1% house edge (other than you can't offer as big limits sanely) as I suspect on a 0.2% edge site (e.g. like bustabit's historical average) people will tend to gamble ~5x as much as a 1% edge site (as people tend to be loss constrained).

But a site like chipmixer, I think the draw is clearly for privacy/mixing and gambling is just an add-on to improve that. So I suspect there's not going to be much turnover of the same money (if you win, you'll probably just withdraw immediately), so to sanely be able to offer it -- it makes sense to have a higher house edge.


For reference, for every 1 BTC someone's deposited at bustabit they've on averaged turned it over 18.78 times and then left with 0.96 BTC. Without such a high turn over, there's no real way I could really be paying the bills with such a low edge.


Anyway, I think what chipmixer is doing is pretty cool. I really like their idea of giving you a private key (instead of sending you money) so you can spend link it with your wallet and throw off any analytics. It's all pretty neat  Grin
Thanks RHavar for this detail analysis , I haven't thought in this way.  Chipmixer is providing mixing service for free and if they keep on losing with their betting option than we might actually loss a pretty unique mixing service which is really useful and easy to use.

I have donated few mBtc before there and would like to request others to do same so that we can have them alive for longer time.

Chipmixer, can you add one small feature to send session details to email we like? This can help us to easily track back our mixing process, some browser might loss session details after few hours.

You can email the link to yourself if you really want to. Not much point to doing that though, as if you used a non encrypted email service like Gmail, they can easily know you used the mixer. It's better to save the link on your computer locally if you have to, or write it down.

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July 06, 2017, 09:24:19 AM
 #36

Slightly off topic. But it also goes into why I think their house-edge is totally reasonable:

When someone goes to a casino, their intention is to gamble. If they win, they'll probably just gamble more. That's why I don't think from a business perspective an online casino will see a huge difference in revenue between having a 0.2% house edge and a 1% house edge (other than you can't offer as big limits sanely) as I suspect on a 0.2% edge site (e.g. like bustabit's historical average) people will tend to gamble ~5x as much as a 1% edge site (as people tend to be loss constrained).

But a site like chipmixer, I think the draw is clearly for privacy/mixing and gambling is just an add-on to improve that. So I suspect there's not going to be much turnover of the same money (if you win, you'll probably just withdraw immediately), so to sanely be able to offer it -- it makes sense to have a higher house edge.


For reference, for every 1 BTC someone's deposited at bustabit they've on averaged turned it over 18.78 times and then left with 0.96 BTC. Without such a high turn over, there's no real way I could really be paying the bills with such a low edge.


Anyway, I think what chipmixer is doing is pretty cool. I really like their idea of giving you a private key (instead of sending you money) so you can spend link it with your wallet and throw off any analytics. It's all pretty neat  Grin
Thanks RHavar for this detail analysis , I haven't thought in this way.  Chipmixer is providing mixing service for free and if they keep on losing with their betting option than we might actually loss a pretty unique mixing service which is really useful and easy to use.

I have donated few mBtc before there and would like to request others to do same so that we can have them alive for longer time.

Chipmixer, can you add one small feature to send session details to email we like? This can help us to easily track back our mixing process, some browser might loss session details after few hours.

I am pretty sure they won't be emailing you the session details. Maybe as an option however most people wouldn't opt to use that option for many reasons.

For one, you use a mixing service to remain anonymous, why would you want your details sent over by email.

Email is not very private. Unless you opt for some encryption however that will only complicate things.

Don't think they will add this feature.

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July 07, 2017, 06:46:15 AM
 #37

Mixing and Gambling. That's new.
Maybe I was too fond of the other mixer that I thought this wont happen.
Well it did. Congratulations to this new feature of Chipmixer and I hope it goes.
I will try to visit the site later.
Is investment also open to this website? I mean like other gambling sites?

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July 07, 2017, 01:04:35 PM
 #38

Email is not very private. Unless you opt for some encryption however that will only complicate things.
Don't think they will add this feature.
This is true, it's not very private, but also you would need to give your e-mail address to ChipMixer every time you use it.
With our Electrum plugin, when you deposit, the deposit description contains recovery address. You could do that with every wallet.

Is investment also open to this website? I mean like other gambling sites?
We do not seek an investment. Current "bankroll" is enough.

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July 24, 2017, 07:48:56 PM
 #39

did anybody try this service so much scammers out there and need a food mixer since bitmixer.io close the doors
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July 24, 2017, 11:58:12 PM
 #40

I read through this thread and in general everyone seems to be quite impressed by this mix (no pun intended) of mixing coins and gambling.
But have anyone actually tested this gambling while mixing thing and can share the first-hand opinion about this service? Worth or not?
3% House Edge seems kinda high considered that standard minimum mixing fee is  0.5% plus 0.0005 for every forward address.


You are talking about the wrong mixer. ChipMixer doesn't require you to pay any fees, and you can get multiple chips of Bitcoin without paying an additional fee.

Gambling isn't there for hardcore gamblers to play a lot with, but rather for people that might be mixing coins and want to try to throw people trying to track their Bitcoin off by ending with more BTC than they deposited.

He's talking about the house edge not the fee

There is no fee for mixing on ChipMixer but it's expected of you to donate a small amount or gamble a small amount
After all, you are using a free service, you should give them some reward for providing the service

did anybody try this service so much scammers out there and need a food mixer since bitmixer.io close the doors

They had a giveaway thread for testing purposes where they gave out 0.01-0.02BTC to 10 people to test the website out (in vouchers)
Withdrawals were sucessful

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