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Author Topic: Bets of Bitcoin - Bitcoin betting on real world events  (Read 61711 times)
jtimon
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October 10, 2013, 04:00:53 AM
 #421

Freimarkets could be deployed in Bitcoin's blockchain if the required hardfork is accepted by the network.
It will likely happen on Freicoin first, but it is a protocol extension that can operate in both chains at the same time.
And as said, order-based colored coins (freimarkets are "tag-based colored coins" according to Meni Rosenfeld) is what worries me in the current bet.
In fact, I would not want to bet against a mastercoin based on a central issuer neither (I undesrtand that's possible, isn't it?). I just want to bet against your proposed p2p derivative issued by a protocol such as mastercoin.
If bitshares claims to be able to do the same p2p derivative or similar, I would prefer the new bet not to be so specific about the bitcoin chain so that the bitshare people can also disagree with me (the more coins against me, the higher the reward if I win).

2 different forms of free-money: Freicoin (free of basic interest because it's perishable), Mutual credit (no interest because it's abundant)
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dacoinminster
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October 10, 2013, 03:19:34 PM
 #422

Freimarkets could be deployed in Bitcoin's blockchain if the required hardfork is accepted by the network.
It will likely happen on Freicoin first, but it is a protocol extension that can operate in both chains at the same time.
And as said, order-based colored coins (freimarkets are "tag-based colored coins" according to Meni Rosenfeld) is what worries me in the current bet.
In fact, I would not want to bet against a mastercoin based on a central issuer neither (I undesrtand that's possible, isn't it?). I just want to bet against your proposed p2p derivative issued by a protocol such as mastercoin.
If bitshares claims to be able to do the same p2p derivative or similar, I would prefer the new bet not to be so specific about the bitcoin chain so that the bitshare people can also disagree with me (the more coins against me, the higher the reward if I win).


It sounds like maybe you should write this bet Smiley

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October 19, 2013, 11:55:40 PM
 #423

Can we close and pay out http://betsofbitco.in/item?id=1343 please?
Atlantis has closed down.
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October 20, 2013, 01:04:34 AM
 #424

Can we close and pay out http://betsofbitco.in/item?id=1343 please?
Atlantis has closed down.

THIS STILL NEEDS TO BE CLOSED TOO
http://betsofbitco.in/item?id=1163


Name:   coinjedi
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Donations: 1JVhKjUKSjBd7fPXQJsBs5P3Yphk38AqPr - TIPS
the hacks, the hacks, secure your bits!
mog
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November 01, 2013, 04:36:37 AM
 #425

I've often used betsofbitco.in with good experiences, until lately. I recently decided to submit a statement for people to bet on and it's sat "awaiting approval" for the past 3 days. It's actually now getting dangerously close to the deadline and I've received no response from the site owners on how long their approval process normally takes. Has anyone actually heard from the owner's / site maintainer recently?

EDIT of course right after posting  this I just noticed it was finally approval, better late than never I guess, I still would have appreciated it having longer to collect bets.
Here it is if anyone is interested http://betsofbitco.in/item?id=1772
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November 01, 2013, 08:44:03 AM
 #426

Here it is if anyone is interested http://betsofbitco.in/item?id=1772
I would've loved to bet on this one, but they refuse to finalize and pay out the other bets I'm currently invested with in a timely manner so I have no funds available.
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November 06, 2013, 09:08:06 PM
 #427

Please resolve:

http://betsofbitco.in/item?id=1528
and
http://betsofbitco.in/item?id=1732

Thanks
mog
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November 07, 2013, 04:10:12 AM
 #428

please approve http://betsofbitco.in/item?id=1784
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November 15, 2013, 01:02:34 AM
 #429

Forgot username, and have been trying to e-mail admin... please respond so I can access my account

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November 17, 2013, 03:24:52 PM
 #430

Forgot username, and have been trying to e-mail admin... please respond so I can access my account

Ouch!  Sad


In light of the recent string of so called "failures" and so called "hacks", please consider the following:


[Bets Of Bitcoin?] Does anyone know anything about this site? If legit, does anyone have any idea what the average length of time is before an outcome can be decided and closed, and the bidders paid out?

Hmm...

As food for thought, here is a bet to consider:

Prediction: Bets of Bitcoin won't be back online.

Rationale: Whenever a sufficiently anonymous service is entrusted with bitcoin without sufficient collateral,
and the amount thus entrusted is large in comparison to the profitability of the service,
that service will cease to exist when the ratio of coins coming in to the coins going out turns negative.

Deadline: January 1, 2014.





Name:   coinjedi
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First, I have used BetsOfBitcoin for a couple of years. I REALLY enjoyed bets of bitcoin.  Smiley

That said, I would very strongly recommend against trusting them your money.



Here is why:


Coinjedi, the owner and developer of BetsOfBitcoin is (AFAICT) anonymous.

Depositing money to BetsOfBitcoin is exactly equivalent to "sending cash to a stranger on the internet".

This is a bad, problematic, entirely not acceptable state of affairs.




Coinjedi could run away with all the money entrusted to the site, at any time.

There wouldn't be any obvious way for users of the site to even reach him.


For example: If he "forgets" to renew the domain registration, he could just take the deposited money, and...

well... on second thought... he wouldn't even need to do anything,  other than forget to pay the bill.

That would be the end of it.



Those moneys have already been given to him, and the users of the site have no choice but to blindly trust that he will return them, according to his rules.

Now, when dealing in bitcoin... This trust model.... How do I put this...


History teaches that it often seems to work flawlessly for a time, a long time, until it one day catastrophically stops working with little or no warning.

The website in question mysteriously ceases to exist, citing "technical difficulties", followed by promises of "be back soon", followed by... radio silence forever.

And your money would be gone. And you would be sad. And there would be nothing you could do to get them back.


As for warning signs: The owner has not responded to users on BitcoinTalk for a month... The site seems to have fallen into disuse and disrepair as of late. SSL cert expiry, and so on...


So... yeah...

Does that answer your question?



PS: All of the above was written before these latest failures happened...  Undecided



Stay safe.
mog
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November 18, 2013, 03:42:16 AM
 #431

I'm not certain why you're saying this about the site now, they've been around since the early days and while there's been some laggy replies recently I haven't seen the service fail yet nor anyone really complain about being cheated out of their btc yet. I'd actually just like the site to see enough traffic to gain more bettors.
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November 18, 2013, 04:38:07 AM
 #432

I was totally paranoid about them for the same reasons and never played long running bets but thanks to you bumping this thread I logged in and found some $600 laying around since a year. I can report that WITHDRAWAL worked like a charm Smiley

mog
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November 19, 2013, 04:06:59 AM
 #433

.....And even stranger I'm seeing an unconfirmed withdrawel from them in my client for the last 24 hours now, anyone know what gives here? I even had a smaller amount transaction accepted and confirmed in the same time period. It's just sitting in my client not getting confirmations, anyone had this happen to them before?
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November 20, 2013, 04:55:08 AM
 #434

ok I noticed it's finally fully confirmed today, that was nerve-wracking however, it took close to 48 hours for my withdrawal to confirm.
VolanicEruptor
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November 21, 2013, 10:52:44 AM
 #435

Forgot username, and have been trying to e-mail admin... please respond so I can access my account

elux
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November 21, 2013, 02:15:07 PM
 #436


Name:   coinjedi
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Date Registered:   May 27, 2011, 01:37:11 PM
Last Active:   September 04, 2013, 03:27:22 AM


He still hasn't been online / logged in since early September.

...I'm sorry.  Sad

Perhaps a forum moderator could be so kind and helpful as to plaster a WARNING
 about this state of affairs in big red letters, to the start of the first post on the first page of this thread?

I mean: If bets aren't being closed, then the site is useless.

If bets are being closed, then it must be assumed that CoinJedi has surrendered to the dark side.
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November 21, 2013, 02:30:19 PM
 #437


Name:   coinjedi
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Date Registered:   May 27, 2011, 01:37:11 PM
Last Active:   September 04, 2013, 03:27:22 AM


He still hasn't been online / logged in since early September.

...I'm sorry.  Sad

Perhaps a forum moderator could be so kind and helpful as to plaster a WARNING
 about this state of affairs in big red letters, to the start of the first post on the first page of this thread?

I mean: If bets aren't being closed, then the site is useless.

If bets are being closed, then it must be assumed that CoinJedi has surrendered to the dark side.

Scam accusations go to another forum. The way would be that coinjedi would get marked as a scammer, not the OP in this thread.
I got my money out in time and was skeptical about this service all the time. Crossing fingers it takes a surprisingly good turn.

Bitventurer
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November 23, 2013, 11:24:09 PM
 #438

Your statements awaiting approval (1) -- since 5 days...  looks like the project is dead :/

SP8DE - The Game of Chance. Changed.
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November 24, 2013, 11:27:25 PM
 #439

please resolve

http://betsofbitco.in/item?id=1781

http://betsofbitco.in/item?id=1769
mog
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November 27, 2013, 12:36:29 AM
 #440

please resolve:

http://betsofbitco.in/item?id=1783
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