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

[Venetian]

We set the house edge to 2% initially for all bets using Chancecoin, but after much discussion and consideration, we feel strongly about lowering the house edge to 1%. Currently several Bitcoin dice betting websites, such as JustDice and PrimeDice, are using 1% house edge, and to be competitive in this space, we have to match that. We believe that this change will make Chancecoin more attractive for dice players, and the lower rate will add more value to investors from a bigger user base and higher bet volume than the difference in the house edge per bet.

This is the only change in the protocol that we have wanted to make since the inception of Chancecoin, and it is by no means a sign that we will make protocol-related changes in the future. Please let us know if you have genuine concerns with this change. If there's no strong dissent, we will implement this change a week from now.

[notsoshifty]

This is the only change in the protocol that we have wanted to make since the inception of Chancecoin, and it is by no means a sign that we will make protocol-related changes in the future. Please let us know if you have genuine concerns with this change. If there's no strong dissent, we will implement this change a week from now.

Happy with the change.

[fudge]

"Chancecoin is not finished synchronizing. Chancecoin has finished processing 291952 out of 296585 Bitcoin blocks."

so slow... about 1 block/sec. Is that normal?

[overthetop2011]

We set the house edge to 2% initially for all bets using Chancecoin, but after much discussion and consideration, we feel strongly about lowering the house edge to 1%. Currently several Bitcoin dice betting websites, such as JustDice and PrimeDice, are using 1% house edge, and to be competitive in this space, we have to match that. We believe that this change will make Chancecoin more attractive for dice players, and the lower rate will add more value to investors from a bigger user base and higher bet volume than the difference in the house edge per bet.

This is the only change in the protocol that we have wanted to make since the inception of Chancecoin, and it is by no means a sign that we will make protocol-related changes in the future. Please let us know if you have genuine concerns with this change. If there's no strong dissent, we will implement this change a week from now.

Support.

 

[SpongebobCoinpants]

I have 3 questions before I burn my BTC:

1) What does this mean? "Maximum coins burned: 1,000,000"  The burn period will end if 1,000,000 Chancecoin are created?

2) Can a decentralized dice game be implemented within Counterparty somehow?  Making Chancecoin useless?

3) How is this dice game decentralized if it relies on the NY lottery numbers?  Aren't the NY lottery numbers centralized?


Thanks!

[mcjavar]

I still have the same problem: wallet starts without error, btc-qt is running an up to date, but when I click on "open wallet" or "casino" nothing happens.

any suggestions?

[TwinWinNerD]

Support the 1%. But please lower maxwin to 0.5%. Thanks

[YNWA2806]

Hey Devs
is there a "block scan" where we can see our balance??, how can i verify my burn?

[TwinWinNerD]

Hey Devs
is there a "block scan" where we can see our balance??, how can i verify my burn?

http://chancecoin.com/balances
or in the client directly!

[qtgwith]

I have 3 questions before I burn my BTC:

1) What does this mean? "Maximum coins burned: 1,000,000"  The burn period will end if 1,000,000 Chancecoin are created?

2) Can a decentralized dice game be implemented within Counterparty somehow?  Making Chancecoin useless?

3) How is this dice game decentralized if it relies on the NY lottery numbers?  Aren't the NY lottery numbers centralized?


Thanks!

The chancecoin will die immediately after the betting function added to the Counterparty's web wallet. Actually, the chancecoin is only a betting application based on Counterparty.

[NOjust]

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.

+1
sound good .

[mcjavar]

I still have the same problem: wallet starts without error, btc-qt is running an up to date, but when I click on "open wallet" or "casino" nothing happens.

any suggestions?

?

[superresistant]

I have 3 questions before I burn my BTC:
1) What does this mean? "Maximum coins burned: 1,000,000"  The burn period will end if 1,000,000 Chancecoin are created?
2) Can a decentralized dice game be implemented within Counterparty somehow?  Making Chancecoin useless?
3) How is this dice game decentralized if it relies on the NY lottery numbers?  Aren't the NY lottery numbers centralized?
Thanks!

1) Dunno but the number of coins doesn't matter. As an investor, you want to hold the better % of the total amount of coin at the end of the IPO.

2) Absolutely impossible as I explained before. Ignore qtgwith, he is probably the biggest investor and don't want people to burn more BTC as it dilute his investment. These kind of trolls are on every thread on this forum. These are the one that say "Bitcoin is crashin ! Going down to zero" while they are buying massively.

3) There is a discussion about it on this thread. It doesn't "rely" on NY lottery, it only use some of it's numbers to ensure better randomness. This can be changed any time (use a different numbers source) and doesn't affect users.

[cawson]

I have burnt a few bitcoins from a blockchain.info address. How do I verify that CHA got credited to my address as expected?

I know some of you have been having trouble verifying balances with the wallet binaries. While we're working hard on the new bitcoinj version of the software, I published a list of balances: http://chancecoin.com/balances. I will update this list periodically. Even if you already know your balance, this is a pretty interesting list to look at!

magician

1Jy19AtEsNLmCm36dePFzybGdY8bWUEk8t   0.35btc ,19tjzjLKgiLCUZA2s2wH9aNd3TTHJJXgY7   0.34btc

are burn from my btc adress:1LArq4ZstbNo2Dcq3dg7QdtoTpvizsX52h.why CHA  mistake.

Can adjust to 1LArq4ZstbNo2Dcq3dg7QdtoTpvizsX52h this address?

thanks

[qtgwith]

I have 3 questions before I burn my BTC:
1) What does this mean? "Maximum coins burned: 1,000,000"  The burn period will end if 1,000,000 Chancecoin are created?
2) Can a decentralized dice game be implemented within Counterparty somehow?  Making Chancecoin useless?
3) How is this dice game decentralized if it relies on the NY lottery numbers?  Aren't the NY lottery numbers centralized?
Thanks!

1) Dunno but the number of coins doesn't matter. As an investor, you want to hold the better % of the total amount of coin at the end of the IPO.

2) Absolutely impossible as I explained before. Ignore qtgwith, he is probably the biggest investor and don't want people to burn more BTC as it dilute his investment. These kind of trolls are on every thread on this forum. These are the one that say "Bitcoin is crashin ! Going down to zero" while they are buying massively.

3) There is a discussion about it on this thread. It doesn't "rely" on NY lottery, it only use some of it's numbers to ensure better randomness. This can be changed any time (use a different numbers source) and doesn't affect users.

I hold none since I have seen the risk. No need chancecoin at all. It can be realized easily using XCP.

[provenceday]

how many time left for burn btc?


thanks!

[allwelder]

I still have the same problem: wallet starts without error, btc-qt is running an up to date, but when I click on "open wallet" or "casino" nothing happens.

any suggestions?

have the same question.How to burn from CHA wallet?

[superresistant]

I hold none since I have seen the risk. No need chancecoin at all. It can be realized easily using XCP.

You are either spreading FUD or hating. We don't need this kind of attitude on Bitcointalk.

how many time left for burn btc?
thanks!

You can calculate the time left this way :

( last IPO block - actual block count ) x average minutes per block x ( 1 / 24 hours x 60 minutes ) = days left

Right now it is :

(298340-296958)*9*(1/(24*60))=8.6375

So about 1 week, 1 day and 12 hours.


Please consider the fact that the last people to invest in IPO will get 50% less chancecoins than the first investors.
So once you took your decision about investing or not, you should invest as soon as possible to get more chancecoins than the people after you.

[7585145]

 I burned 1 BTC. How to get CHACoin?

[mcjavar]

I still have the same problem: wallet starts without error, btc-qt is running an up to date, but when I click on "open wallet" or "casino" nothing happens.

any suggestions?

?

Am I the only one with this problem?