Crypto Casino
The First of it's kind
Proof Of Risk (POR) with internal decentralized casino
The definitive gambling experience of the next generation
Bitcoin the first true decentralized currency - Crypto Casino the first true decentralized economy
CCC (CryptoCasinoChips) Distribution Thread
Proof Of Risk - Decentralized Economy - Financial Freedom
Mining Algorithm: TBA
Block time/Retarget/Reward: Based on POR - discussed in detail below
House Block Time: 24 hours - first 18 hours released last 8 hours retained for those that beat house
Max Coins: 10,000,000,000
Equal distribution phaseThis is the equal distribution phase of CryptoCasino, 50% of CCC will be given through this phase. The other 50% will be given through mining, house earning, 2nd phase investment. 5 billion chips (50% of the total amount) will be distributed in this phase. If we have 2000 applicants the 5b pot will be equally distributed 2000 ways.
Instructions on claiming your sharesTo claim a share make a post here only one share can be claimed per bitcointalk account precautions will be taken to make sure people aren't spam claiming.
First 5 pages: Free To join
pages 5--->: fee = will be announced 11:59 pm today Universal Time
Initial Official announcement thread is here:
https://bitcointalk.org/index.php?topic=455780.0Mining in Crypto CasinoMining coins in Crypto Casino are 100% earned by Proof Of Risk Protocol and collecting transaction fees for securing the network and processing the transactions. This efficient mining protocol results in low energy mining so mining profits won't be negated by high electricity bills and it's very environmentally friendly unlike Bitcoin and many Bitcoin clones.
Internal decentralized CasinoIn Crypto Casino their is House gambling and peer 2 peer gambling. Like any other casino in Crypto Casino the house has the slight upper hand when a player beats the house they keep their profits, however when a player loses to the house these funds go to the house. In turn these funds will be distributed to all miners and some gamblers under proof of risk and dynamic distribution. People gambling against each other in peer 2 peer will not be able to earn coins through proof of risk for the most part because of the chance of game setting and manipulation. People gambling against eachother will win profits like a conventional casino (a small percentage of wins may be taxed to go to the house to discourage fake wins this however is TBD and is not final).
Proof Of RiskProof of Risk is a new protocol built from the ground up for Crypto Casino. The mining Distribution relies almost completely on POR and so do house gambling aspects. POR allows the distribution of coins through mining to be more dynamic seeing as how CryptoCasino is non-inflationary in the traditional manner a 51% attack will not be possible and other malicious attempts by big miners are negated.
House SafegaurdTo protect the House from going into debt and not being able to pay out wins Log will be implemented (Lesser Opposition Gain) that makes sure overall the house does not end up in the red and it is able to pay out wins while still paying miners.
Work for CryptoCasinoWe will be placing positions for development, marketing etc. soon so keep an eye out.
