[ANN][CHA] Chancecoin, SuperNET core coin for betting in a decentralized casino

[Venetian]

1. This does rely on reasonable time synchronization. If people are worried about timestamp cheating, we can always increase the verification time, but there's a tradeoff there. If a block is orphaned and a transaction moves into another block, the bet will be resolved based on the new block.

2. The %2 was a bug. I just released version 1.3 to fix that, and the Windows client will be updated shortly. I also updated the technical specification to reflect what actually happens in the code. (number i) was a typo, and I had forgotten to mention the factor of 100 is simply to put the standard random uniform variable into percentage terms (since Chancecoin saves the chance of winning as a percentage as well).

3. I can write up the formal proof once the bitcoinj wallet gets off the ground. I apologize for taking a while to answer questions recently. Venetian and I have been pounding the code treadmill pretty hard with this new wallet software.

Magician

Windows client version 1.3 is now available on Chancecoin.com! Here's the direct download link: http://chancecoin.com/static/downloads/Chancecoin-1.3.zip

[Omnio]

I just bet my first three CHA yesterday using the Windows GUI, and it did not let me burn or place another bet until the last bet was resolved. It kept giving me an insufficient BTC error message when I had more than enough BTC in my address. After the bet was resolved (and I lost  ), I was able to successfully burn and place another bet. The only work around I have for this, is to use multiple addresses, but I'm pretty sure you guys can fix this.

I envision a future like something out of a Neo-Tokyo cyberpunk movie, with some Japanese teenagers in funny Google glass style optics interacting with a 3D, holographic render of a decentralized Chancecoin wallet/ATM. With a simple hand swipe gesture, a yellow die, appears before their eyes and they watch as it tumbles in digital space. They watch eagerly until the die settles down, awaiting the result, as they continue betting away their useless and heavily inflated digital Yen, in the hopes of earning meager, satoshi-like portions of CHA. They will look back at these posts and wonder how crazy we were to bet away all this money... and we will just laugh, comfortably from the luxury of our mansions, while our grandchildren surround us and ask us to tell them stories about the times we had nothing. About the times that we took the little BTC we had left and "took a chance on Chancecoin."

I'm going long on CHA. "Take a chance on Chancecoin."

To your first point, yes, we'll look into that and fix it. We don't want to inhibit betting in any way.

As for your second paragraph, you've earned yourself a spot on the home page. That is a beautiful vision of the future you have. 

Whoa! That is awesome!! I'm honored.

[ownerbest]

Allright, there is no warning now. But, still nothing happen when click the wallet.

The exact same behaviour here.

have u gotten your bitcoin qt reindexed?

How to do that? What's the command?

[notsoshifty]

1. This does rely on reasonable time synchronization. If people are worried about timestamp cheating, we can always increase the verification time, but there's a tradeoff there. If a block is orphaned and a transaction moves into another block, the bet will be resolved based on the new block.

2. The %2 was a bug. I just released version 1.3 to fix that, and the Windows client will be updated shortly. I also updated the technical specification to reflect what actually happens in the code. (number i) was a typo, and I had forgotten to mention the factor of 100 is simply to put the standard random uniform variable into percentage terms (since Chancecoin saves the chance of winning as a percentage as well).

3. I can write up the formal proof once the bitcoinj wallet gets off the ground. I apologize for taking a while to answer questions recently. Venetian and I have been pounding the code treadmill pretty hard with this new wallet software.

Thanks a lot. Makes sense.

On the time sync point: where is the current verification time defined, or at the moment is it zero? Do the bitcoin spec / software / major minors define anywhere a maximum time skew that would be allowed before a block is rejected? (I've not checked the bitcoin blockchain, but in alt coins I've certainly seen blocks appear out of timestamp order, especially during the instamine phase, presumably due to lack of time sync in the miner). Is there a guaranteed delay in announcing the lottery numbers? Would it be possible for a rogue miner to do something like:

 - Normal case: mine without an Chancecoin transaction, and with the correct timestamp
 - As soon as a lottery result is made available, and for the next 10 seconds, mine with a winning Chancecoin transaction (might need a few attempts to get a suitable transaction ID), and with the timestamp out by 10 seconds
 - After 10 seconds, go back to the normal case (no Chancecoin transaction; correct timestamp)

If that is a possibility, could you also include the block ID into the mix (like transaction ID is now) to prevent this behaviour, and would that help?

[TwinWinNerD]

push

[mcjavar]

Dead?

[TwinWinNerD]

Dead?

Nope, burning is running well 88 BTC atm.

Dev is implementing bitcoinJ in his free time! Will be nice!

[magician]

Hi folks!

I just wanted to give a quick update: we made some minor fixes to the existing wallet software. The latest download links, as always, can be found at http://chancecoin.com/participate.

We are still hard at work on the new bitcoinj wallet software. It's starting to look pretty good. We can't wait to show it to you.

Thanks again for all your support,
Magician

[TwinWinNerD]

Hi folks!

I just wanted to give a quick update: we made some minor fixes to the existing wallet software. The latest download links, as always, can be found at http://chancecoin.com/participate.

We are still hard at work on the new bitcoinj wallet software. It's starting to look pretty good. We can't wait to show it to you.

Thanks again for all your support,
Magician

Will check this new version out now!

Also burned my 3.15th BTC

[provenceday]

will support this and burn some btc.

[NOjust]

sound nice.

[supervine]

This coin can be monitored and send alert of price changes in android app Crypto Coins Manager, as like all other coins (when get at least one exchange). Use it for free.
https://play.google.com/store/apps/details?id=halfprice.coinmanager

[TwinWinNerD]

Ok, so I installed the new version.

Finally it works flawlessly on my tiny XP. It resolves the bets promptly and now shows if a bet is lost or won. Just found out that I lost nearly every high risk bet

I may burn some more when I get some payments in!

Regards

[her0]

  great Dev!

[overthetop2011]

Ok, so I installed the new version.

Finally it works flawlessly on my tiny XP. It resolves the bets promptly and now shows if a bet is lost or won. Just found out that I lost nearly every high risk bet

I may burn some more when I get some payments in!

Regards

Some pictures?

thanks.

 

[qtgwith]

Chancecoin has no chance. Counterparty XCP has betting function in cmd client and will add betting to the counterwallet soon.
The function in chancecoin can be realized easily in Counterparty. No need this chancecoin altcoin at all.

[superresistant]

Chancecoin has no chance. Counterparty XCP has betting function in cmd client and will add betting to the counterwallet soon.
The function in chancecoin can be realized easily in Counterparty. No need this chancecoin altcoin at all.

This has nothing to do with the betting-game of Chancecoin.
At the starting of XCP I've seen some discussion about it and it seems that its betting system could be flawed. I can't find any news about it, devs probably gave up. Even if they implement a betting system later, be careful about the fact that it will not work the same way.
The big difference between XCP and Chancecoin is that Chancecoin is made to be a betting system, the XCP base is only a way to implement it. Chancecoin's devs were thinking about the betting system before the cryptocurrency.
Also, XCP had no working functions until recently while the betting system of Chancecoin is working while the burn-period is not finished. There is already a nice working client and the devs are going to make a new one based on CoinJ so people doesn't have to download the whole blockchain. They fix the biggest problem of XCP before the burn-period is done.

This is a very original and interesting project, I haven't seen any for months in cryptocurrency world.

[TwinWinNerD]

Chancecoin has no chance. Counterparty XCP has betting function in cmd client and will add betting to the counterwallet soon.
The function in chancecoin can be realized easily in Counterparty. No need this chancecoin altcoin at all.

This has nothing to do with the betting-game of Chancecoin.
At the starting of XCP I've seen some discussion about it and it seems that its betting system could be flawed. I can't find any news about it, devs probably gave up. Even if they implement a betting system later, be careful about the fact that it will not work the same way.
The big difference between XCP and Chancecoin is that Chancecoin is made to be a betting system, the XCP base is only a way to implement it. Chancecoin's devs were thinking about the betting system before the cryptocurrency.
Also, XCP had no working functions until recently while the betting system of Chancecoin is working while the burn-period is not finished. There is already a nice working client and the devs are going to make a new one based on CoinJ so people doesn't have to download the whole blockchain. They fix the biggest problem of XCP before the burn-period is done.

This is a very original and interesting project, I haven't seen any for months in cryptocurrency world.

Nicely Put!

When the new client is in place, everyone around the world can play dice without any 3rd party interfeering and without ANY trust, and all this with a lightweight java client. This is a unique situation, as this was never possible until now. And now you can even be a part of this with burning!

[qtgwith]

Chancecoin has no chance. Counterparty XCP has betting function in cmd client and will add betting to the counterwallet soon.
The function in chancecoin can be realized easily in Counterparty. No need this chancecoin altcoin at all.

This has nothing to do with the betting-game of Chancecoin.
At the starting of XCP I've seen some discussion about it and it seems that its betting system could be flawed. I can't find any news about it, devs probably gave up. Even if they implement a betting system later, be careful about the fact that it will not work the same way.
The big difference between XCP and Chancecoin is that Chancecoin is made to be a betting system, the XCP base is only a way to implement it. Chancecoin's devs were thinking about the betting system before the cryptocurrency.
Also, XCP had no working functions until recently while the betting system of Chancecoin is working while the burn-period is not finished. There is already a nice working client and the devs are going to make a new one based on CoinJ so people doesn't have to download the whole blockchain. They fix the biggest problem of XCP before the burn-period is done.

This is a very original and interesting project, I haven't seen any for months in cryptocurrency world.

You should make more study on Counterparty. Counterparty XCP has betting function in cmd client and will add betting to the counterwallet soon. Chancecoin is actually a fork of XCP's betting. Once the betting function is added to the counterwallet, chancecoin maybe die.

[superresistant]

You should make more study on Counterparty. Counterparty XCP has betting function in cmd client and will add betting to the counterwallet soon. Chancecoin is actually a fork of XCP's betting. Once the betting function is added to the counterwallet, chancecoin maybe die.

You don't get it. XCP will never act as a real decentralized dice-game with all features. Take the casino bank-roll for example : Imagine if you implement a function that could make XCP holders lose money ?
Impossible, XCP will never do such changes.
On the other hand with Chancecoin, every investor is also part of the bankroll and that's one of the reason they invest.