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Author Topic: Bets of Bitcoin - Bitcoin betting on real world events  (Read 57525 times)
coinjedi
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May 17, 2012, 02:00:12 AM
 #161

This statement was supposed to be decided yesterday.  http://betsofbitco.in/item?id=361

Done!

For future reference, we usually do the decision within 24 hours following the Event Date which is set at the end of the day you see.

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BIGMERVE
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May 17, 2012, 04:02:16 AM
 #162

This statement was supposed to be decided yesterday.  http://betsofbitco.in/item?id=361

Done!

For future reference, we usually do the decision within 24 hours following the Event Date which is set at the end of the day you see.

Ah I see. Thanks. By the way this is my favorite bitcoin website. Really sleek design and fun to play with. I hope it gets more and more popular so the pots get larger.

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May 17, 2012, 04:15:08 AM
 #163

By the way this is my favorite bitcoin website.

It really is a fantastic service, isn't it?


I hope it gets more and more popular so the pots get larger.

Though I make mostly small wagers, I have many of them open currently.   Instead of withdrawing winnings though, I find myself using those towards additional wagers.  And because there are many new bets all the time, I am depositing more pretty regularly, so my "Balance in Bets" keeps growing:
 - http://betsofbitco.in/profile

I wonder if that is typical use.

coinjedi
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May 17, 2012, 12:00:21 PM
 #164

By the way this is my favorite bitcoin website.

It really is a fantastic service, isn't it?


I hope it gets more and more popular so the pots get larger.

I am glad you enjoy the site.

Bets of Bitcoin
http://betsofbitco.in/
Stephen Gornick
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May 20, 2012, 09:37:08 AM
 #165

I'd be curious to see how accurate these are, as far as the majority of the wagers ended up having been successful with the prediction.  (and some strength metric ... i.e., by how much).

Anyway, one more to payout early:

"Chen Guangcheng will leave China before the end of June 2012."
 - http://betsofbitco.in/item?id=379

 - http://www.usatoday.com/news/world/story/2012-05-19/chinese-activist-chen-leave-bejing-us/55071846/1

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May 20, 2012, 12:58:49 PM
 #166

WHO is behind BetsofBitco.in?

The layout of the site is very similar to moonco.in

indian domain
false whois info
private whois
anonymous hosting on sechelles

I have a feeling the same person is behind both websites.
coinjedi
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May 20, 2012, 11:09:05 PM
 #167

WHO is behind BetsofBitco.in?

The layout of the site is very similar to moonco.in

indian domain
false whois info
private whois
anonymous hosting on sechelles

I have a feeling the same person is behind both websites.

Well, obviously nothing we'll say will convince you, but for the record we have no relation to moonco.in.
We have started before they disappeared and .in domains are popular in bitcoin community for obvious reasons. I think it is started by betco.in.

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http://betsofbitco.in/
malevolent
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May 21, 2012, 06:59:54 AM
 #168


Care to reveal your identity then? Or in any way prove that people can trust you with their money? I think saying 'the site is running already for several months with success' doesn't prove anything if you look at Moonco.in, MyBitcoin, Bicoin7 and others.
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May 22, 2012, 06:59:00 AM
 #169

Shouldn't this thread be moved into the Gambling forum board?

Incidentally, from:
 - https://bitcointalk.org/index.php?topic=82846.0

Decided early:
 - http://betsofbitco.in/item?id=366

"Chrome is the most popular browser in the world, says StatCounter"
 - http://www.theverge.com/2012/5/21/3033566/chrome-most-popular-browser-weekly-may-2012

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May 22, 2012, 12:58:15 PM
 #170

Care to reveal your identity then? Or in any way prove that people can trust you with their money? I think saying 'the site is running already for several months with success' doesn't prove anything if you look at Moonco.in, MyBitcoin, Bicoin7 and others.

We wish to remain anonymous at this time.

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http://betsofbitco.in/
coinjedi
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May 22, 2012, 01:10:34 PM
 #171

Shouldn't this thread be moved into the Gambling forum board?

Incidentally, from:
 - https://bitcointalk.org/index.php?topic=82846.0

Decided early:
 - http://betsofbitco.in/item?id=366

"Chrome is the most popular browser in the world, says StatCounter"
 - http://www.theverge.com/2012/5/21/3033566/chrome-most-popular-browser-weekly-may-2012


Are prediction betting/prediction markets gambling anymore than the stock market investing? I think it is controversial. But in any case I've posted this on both forums and the gambling forum thread didn't take off, I think the gambling community decided that it is not in their interest.

I'll keep this bet open because the bet is on the total May ratings which is not available yet. The news is based on the third week of May data, not the whole month.

Bets of Bitcoin
http://betsofbitco.in/
Sukrim
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May 27, 2012, 08:29:55 AM
 #172

http://betsofbitco.in/item?id=333 is basically decided, as difficulty will be the same as now on block 182000 - False wins. One of the few bets so far that I've seen where the majority did not predict correctly.

Are there some stats on that by the way (how often there was an exact tie and how often the majority was right/wrong)?

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TheBitMan
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May 28, 2012, 01:13:58 AM
 #173

Lets say I choose Obama to win and I bet 1.00 BTC how much would I get back if he wins?
http://betsofbitco.in/item?id=5

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May 28, 2012, 01:20:36 AM
 #174

Heh.  Ok, I must have been thinking "more than 24 hours" and typed "never".  Either way, isn't that too loose?  This is a wallet where I have money, right?

I really like to be able to stay logged in at various sites, so I feel like that is a good default behaviour. Wallet operations (withdrawals and address changes) require your password anyway. If you are at an untrusted computer you can always logout manually. Also there can be extensions for your browser of your choice that manages site authentications according to your taste (For example HTTP Logout for Firefox).

Isn't my account easily vulnerable to a man-in-the-middle attack without SSL (HTTPS) being required?

I know that the withdrawal will require a password and that page is only SSL, but wouldn't an attacker that sniffs and sees my session id be able to then submit wagers using my balance?  That would seem to be an odd attack, but it could be used to juice up the payout for the attacker by getting a higher level of wagers on the losing side.

coinjedi
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May 28, 2012, 03:34:01 AM
 #175

Lets say I choose Obama to win and I bet 1.00 BTC how much would I get back if he wins?
http://betsofbitco.in/item?id=5

As in any other variation parimutuel/pooled betting system there is no way to know the exact returns until the bets are closed. Have you seen the example distribution on our help page?

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coinjedi
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May 28, 2012, 03:38:43 AM
 #176

Isn't my account easily vulnerable to a man-in-the-middle attack without SSL (HTTPS) being required?

I know that the withdrawal will require a password and that page is only SSL, but wouldn't an attacker that sniffs and sees my session id able to then able to submit wagers using my balance?  That would seem to be an odd attack, but it could be used to juice up the payout for the attacker by getting a higher level of wagers on the losing side.

I've found that enforcing https for everything reduces the performance as things are not always cached properly. Requiring password for betting is also a nuisance. Either option would disrupt the user experience. Also as you have mentioned, unless the men-in-the-middle does not want to annoy you, he does not have an incentive for placing random bets. But if there is a demand from many users we can implement one the solutions.

Bets of Bitcoin
http://betsofbitco.in/
rjk
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May 28, 2012, 03:41:05 AM
 #177

Isn't my account easily vulnerable to a man-in-the-middle attack without SSL (HTTPS) being required?

I know that the withdrawal will require a password and that page is only SSL, but wouldn't an attacker that sniffs and sees my session id able to then able to submit wagers using my balance?  That would seem to be an odd attack, but it could be used to juice up the payout for the attacker by getting a higher level of wagers on the losing side.

I've found that enforcing https for everything reduces the performance as things are not always cached properly. Requiring password for betting is also a nuisance. Either option would disrupt the user experience. Also as you have mentioned, unless the men-in-the-middle does not want to annoy you, he does not have an incentive for placing random bets. But if there is a demand from many users we can implement one the solutions.
I think a good compromise would be to have a user-selectable option to enable or disable always-on SSL connections. That way, even if we ignore the session hijacking idea, it would also prevent simple sniffing and seeing whether and how a person is betting.

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May 28, 2012, 11:33:15 AM
 #178

Lets say I choose Obama to win and I bet 1.00 BTC how much would I get back if he wins?
http://betsofbitco.in/item?id=5

If you are the last one to bet on this right now (weight 3856.60) you'd get 1.35157500 BTC (of which 1 BTC is your amount bet you're getting back). I wrote a spreadsheet for private use that polls this data for my bets, so it should be quite correct...

Of course this can change still quite a bit over time, depending on other bets on each side.

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TheBitMan
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May 28, 2012, 01:19:56 PM
 #179

Lets say I choose Obama to win and I bet 1.00 BTC how much would I get back if he wins?
http://betsofbitco.in/item?id=5

If you are the last one to bet on this right now (weight 3856.60) you'd get 1.35157500 BTC (of which 1 BTC is your amount bet you're getting back). I wrote a spreadsheet for private use that polls this data for my bets, so it should be quite correct...

Of course this can change still quite a bit over time, depending on other bets on each side.
thanks
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May 29, 2012, 01:53:45 AM
 #180

Great site. My bet doesn't work as expected though. I want to create a bet with event date August 1st and betting deadline June 15th. Why doesn't it let me do that? I get some disappearing change-month-buttons on the deadline when I pick the event date so the earliest deadline I can define is July 4th. Huh? If there is any rule, why not allow me to pick any date but show an error explaining what's wrong for dates that are off limit?

Though I make mostly small wagers, I have many of them open currently.   Instead of withdrawing winnings though, I find myself using those towards additional wagers.  And because there are many new bets all the time, I am depositing more pretty regularly, so my "Balance in Bets" keeps growing:
 - http://betsofbitco.in/profile

I wonder if that is typical use.

Haha Smiley It is all over in all gambling sites I guess. Money you won is money you are "allowed" to loose without a bad conscience.

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