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Author Topic: FutureBlock.com - Bet against BTC Hash Rate, not a random dice generator.  (Read 892 times)
locksley
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October 08, 2013, 06:16:15 PM
 #1

As a miner and bitcoin user, I got sick of 2 things.

1. The exponentially increasing Mining Difficulty which completely fucks me for any mining equipment pre-orders.

2. BTC Casino Games like Satoshi Dice where there is no skill involved and gives you a -2% expected return.

So, I made www.futureblock.com

This is a site that lets you bet on where you think the Bitcoin Hash Rate will go for that day. It’s kinda like horse race betting where everyone places their bets in a pool. The odds are then determined by the ratios of bets in that pool (www.futureblock.com/how-it-works).

Using methods like regression, I believe you could consistently win at this game and have a high expected return, bringing some skill back to gambling.

But how does this solve exponentially Mining Difficulty you ask? Eventually, I want to create hedging contracts (like futures/options) against Mining Difficulty. The mathematics behind horse racing betting and hedging contracts are remarkably similar. The site could be both a fun gambling site for punters and a useful hedging platform for miners.

Let me know what you guys think! Smiley
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FloatesMcgoates
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November 03, 2013, 07:49:07 AM
 #2

Just replying to say that I have been using the site the last few days and everything has been smooth sailing.
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November 03, 2013, 01:46:46 PM
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The site looks very nice. It should be more popular :-)
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November 04, 2013, 02:18:48 AM
 #4

The interface of your website is beautiful. You should add support for the popular online wallet Inputs.io

On a mission to make Bitcointalk.org Marketplace a safer place to Buy/Sell/Trade
FloatesMcgoates
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November 04, 2013, 05:17:58 PM
Last edit: November 04, 2013, 11:00:03 PM by FloatesMcgoates
 #5

Hey uhh can you investigate the following:

Yesterday I made a .075 btc bet on "Below 3807736 GH/s." Turns out, at expiration the GH/s was 3731169 GH/s. 4 hours later, the round results have yet to be posted in the recent rounds page (http://www.futureblock.com/rounds).

The bet: https://blockchain.info/tx/8c7958570856306af14b936c33c205ba274f7b05984c5f11fa7a0b7574912a13


It would be a shame if the site stopped paying out the day after I make a post promoting it



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