[ANN][CHIPS] KMD platform's LN app with realtime betting+decentralized shuffling

[ComputerGenie]

Well, even in nix, the qt source builds BTC Core (looks at bitcoin-qt config for data files, but uses CHIPS porting), so there's that.

my plan of not making windows version means we can avoid all the windows issues

#SwingToTheRescue

[DigeNarrator]

i read the page on supernet site and this ANN
the project sounds interesting
now i see that more things will be possible in the lightning network

[kabi123]

common, windows wallet...!!!!! i want windows qt walletpfff!!!!!

[ComputerGenie]

common, windows wallet...!!!!! i want windows qt walletpfff!!!!!

Want in one hand and.....

[jl777B]

 "difficulty": 117212639.5218725,

can someone calculate a mining cost per CHIP based on diff?

161168897.8296677

seems the diff keeps going up...

[ComputerGenie]

 "difficulty": 117212639.5218725,

can someone calculate a mining cost per CHIP based on diff?

161168897.8296677

seems the diff keeps going up...

Mining cost calc depends on electric usage cost, miner type/efficiency, internet connection, diff, and setup.

The cost per CHIP is greater for someone with

• an S7
• in a pool
• paying 8 cents per KWh
• on DSL

vs

• an S9
• solo-mining
• paying 9 cents per KWh
• on fiber

Then when you add revolving diff into the mix.....

[ComputerGenie]

that being said...
Blocks per day (blocksPer) is:

Code:

24 / ((difficulty * Math.pow(2, 32)) / ((Math.pow(10, 12) * CurrentTH) * 3600))

So coins per day (coinsPer) is:

Code:

(reward * blocksPer)

And Cost per rig is:

Code:

Cost($/day) = E(kWh/day) × Cost(cent/kWh) / 100(cent/$)

If I'm awake enough for all of this....

An S9 @ 10 cents per kWh and 88M diff would be:
$3.492 per day to run
2.97 blocks per day
74.25 coins per day
~4.7 cents per coin

[jl777B]

that being said...
Blocks per day (blocksPer) is:

Code:

24 / ((difficulty * Math.pow(2, 32)) / ((Math.pow(10, 12) * CurrentTH) * 3600))

So coins per day (coinsPer) is:

Code:

(reward * blocksPer)

And Cost per rig is:

Code:

Cost($/day) = E(kWh/day) × Cost(cent/kWh) / 100(cent/$)

If I'm awake enough for all of this....

An S9 @ 10 cents per kWh and 88M diff would be:
$3.492 per day to run
2.97 blocks per day
74.25 coins per day
~4.7 cents per coin

what if you use rented hashrate, like miningpoolrentals?
experimentally each 2 to 3 million diff seems to be a PH and that costs 0.3 BTC/day

so 88M diff is say 35 PH or 10 BTC per day for ~200K coins -> 5000 sats or 20 cents per coin

[ComputerGenie]

what if you use rented hashrate, like miningpoolrentals?
...

I'm too lazy for that much math manually 

[jl777B]

what if you use rented hashrate, like miningpoolrentals?
...

I'm too lazy for that much math manually 

well if you can mine at 5 cents a CHIP, it is highly profitable, thats for sure

[ptytrader]

We plan on using Chips as the token for online gambling since it will make use of Bitcoin's LN. What's interesting is that there was no marketing, no ICO, or GUI wallet. It was launched and has taken off by itself. The hashrate is enormous. It's proof how the community takes something and runs with it. 

[Coinchange]

We plan on using Chips as the token for online gambling since it will make use of Bitcoin's LN. What's interesting is that there was no marketing, no ICO, or GUI wallet. It was launched and has taken off by itself. The hashrate is enormous. It's proof how the community takes something and runs with it. 

First real LN usecase ?!

[jl777B]

We plan on using Chips as the token for online gambling since it will make use of Bitcoin's LN. What's interesting is that there was no marketing, no ICO, or GUI wallet. It was launched and has taken off by itself. The hashrate is enormous. It's proof how the community takes something and runs with it.  

First real LN usecase ?!

I think so. I had the realtime betting mostly working with an earlier rev of the LN code. I rebased to the latest but have been too busy with barterDEX to make much more progress with the privatebet side of CHIPS.

but its just a matter of getting some coding time to get it back working again.

I also got feedback from the cryptographer regarding the decentralized shuffling, and I cant disclose all the details yet, but it seems the market is anticipating something significant and I wont say it isnt. I asked for a math paper to be written based on the code I wrote and it turns out to have a lot more math in it that I realized.

Anyway, the process of getting a peer reviewed published paper will take 6 months or so, and realistically so will getting some sort of playable demo that has a GUI. So there isnt anything here in the short term. Just a fun old school purely mined coin with volunteers.

But I designed things so that when barterDEX is stable with the SPV electrums, CHIPS is already supported, so it can be directly atomic swapped with any other supported coin. And we could also use the Agama wallet if somebody ever figures out how to build windows and osx versions.

So without taking much (if any) of my time, we might actually get cross platform support and GUI wallet. And sometime next year we should have the first demo games.

CHIPS incorporates the LN functionality but also the decentralized shuffling and will support plugging in game specific statemachines that would publish an api port for that game, which a game specific GUI can use. Which means CHIPS and LN, wont be just for poker, but for any game that needs a crypto secured random number(s) that is verifiable in realtime.

Hmmm... Maybe CHIPS mania isnt so crazy after all

and remember CHIPS is part of the Komodo Platform and provides these powers for KMD, in turn, people can do things like get total privacy using JUMBLR, in case that is desired for their CHIPS winnings.

CHIPS -> barterDEX KMD -> JUMBLR -> barterDEX BTC and you would have totally unlinked BTC from your CHIPS.

Making easy to use GUI for such a long chain will be a challenge

[breezeattack]

We plan on using Chips as the token for online gambling since it will make use of Bitcoin's LN. What's interesting is that there was no marketing, no ICO, or GUI wallet. It was launched and has taken off by itself. The hashrate is enormous. It's proof how the community takes something and runs with it. 

First real LN usecase ?!

I think so. I had the realtime betting mostly working with an earlier rev of the LN code. I rebased to the latest but have been too busy with barterDEX to make much more progress with the privatebet side of CHIPS.

but its just a matter of getting some coding time to get it back working again.

I also got feedback from the cryptographer regarding the decentralized shuffling, and I cant disclose all the details yet, but it seems the market is anticipating something significant and I wont say it isnt. I asked for a math paper to be written based on the code I wrote and it turns out to have a lot more math in it that I realized.

Anyway, the process of getting a peer reviewed published paper will take 6 months or so, and realistically so will getting some sort of playable demo that has a GUI. So there isnt anything here in the short term. Just a fun old school purely mined coin with volunteers.

But I designed things so that when barterDEX is stable with the SPV electrums, CHIPS is already supported, so it can be directly atomic swapped with any other supported coin. And we could also use the Agama wallet if somebody ever figures out how to build windows and osx versions.

So without taking much (if any) of my time, we might actually get cross platform support and GUI wallet. And sometime next year we should have the first demo games.

CHIPS incorporates the LN functionality but also the decentralized shuffling and will support plugging in game specific statemachines that would publish an api port for that game, which a game specific GUI can use. Which means CHIPS and LN, wont be just for poker, but for any game that needs a crypto secured random number(s) that is verifiable in realtime.

Hmmm... Maybe CHIPS mania isnt so crazy after all

and remember CHIPS is part of the Komodo Platform and provides these powers for KMD, in turn, people can do things like get total privacy using JUMBLR, in case that is desired for their CHIPS winnings.

CHIPS -> barterDEX KMD -> JUMBLR -> barterDEX BTC and you would have totally unlinked BTC from your CHIPS.

Making easy to use GUI for such a long chain will be a challenge

I mean Pangea has 312.1 BTC in it's holding, so that alone will help raise the price. Plus a truly private system for betting. Plus the project is associated with the Komodo Platform that will allow for other developers building betting systems to enable Chips in a plug and play way. Fun fair is worth $100M and hasn't launched really anything that amazing yet (they aren't even focused on Poker type games), so it's a bet that the technology here in the long term will win. Not that crazy for a project from the lead dev of Komodo to increase in value :p

[mikyadel]

so what make this coin diffrerent from other poker and gambling coins ?

[outthu141]

why CHIPS use website'Supernet coin?

[CHMEX1]

COINMARKETCAP say it is 1000000 Total Supply,it that true? if not ,how many total supply ,many thanks.

answered previous page: https://bitcointalk.org/index.php?topic=2078449.msg22214462#msg22214462

CMC came back to me and it's adjusted now after supplying some documentation and the rest of the information.

https://i.imgur.com/1KgAapt.png

https://coinmarketcap.com/currencies/chips/

[n41r0j]

so what make this coin diffrerent from other poker and gambling coins ?

Did you read the post, just 2 above yours? Let me sum this up for you:

First of all, jl777 says he has solved most, if not all, problems that have prohibited the development of any decentralized poker platform in the field.
On top of that, you can anonymize your winnings by using JUMBLR. So, suppose you win a big game of poker, you jumble your winnings and no-one has proof that your btc or kmd or whatever coin is popular by then, were won with gambling. This is quite huge, since there are a lot of legal issues regarding online poker, not only in the US.
It is the first coin to actually make good use of the Lightning Network. Just check this issues list to see the help LN gets from jl777: https://github.com/ElementsProject/lightning/issues?utf8=%E2%9C%93&q=is%3Aissue%20author%3Ajl777%20
It is a Bitcoin fork, and does not use Ethereums smart contracts, like a lot of other gambling coins do.

I'm gonna say it: It's a game changer.

[jl777B]

Just hired @Natasha (in SuperNET slack) fulltime

she has a lot of industry experience and will be doing non-technical aspects of what is needed for CHIPS/BET/PANGEA

from slack:

Natasha [1:19 PM]
I am a former CCO in iGaming

15yrs+ in Tech. Former CXO 5 Fintechs in emerging payments.. Provided back office to one of the 1st cryptos - icoins, in 2008

https://www.linkedin.com/in/natashahomerearley

[farl4web]

Welcome @Natasha. Good luck with the new job!