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

[Janitor]

1/ Like any classic casino, It there a risk of money laundering with Chancecoin ?
I don't think so and I hope not.

Who cares?

And besides, it's not even money. How can there be money laundering?
Is there a risk of money laundering with the US dollar? Yes? Let's ban it!

Citizens concerned about this coin are more than welcome to buy me off and save the world.
1 CHA = 1 BTC.

[noopcoin]

I know the world cup is coming, maybe there will be some gambling sites coming soon.

They are always existed, and more will come out with the world cup.

[superresistant]

1/ Like any classic casino, It there a risk of money laundering with Chancecoin ?
I don't think so and I hope not.

No because Chancecoin do not use FIAT money. You cannot claim that you've been paid in Chancecoin in a legal business.

2/ I stronglly like this coin, because owning CHA is like having interests on your coins (or automatic valuation, if you forget the market speculation).
I used to buy 1% of each new coin I believed in, but a few months later, I was higly diluted...
Not with Chancecoin, I am sure I will never be diluted, and gain stakes if I choose not to play with coins.
Another way to see it, is that bets are no risk or free !
Let's say you have now 1% of available coins. 2 months later, you have 1,1 %. So you can play now some of your coins and stay with your initial 1%.
It is what I am planning to do.
All things are higly positive with this coin.

Yes, you'll get interest based on the activity. The more people play, the higher is the interest.
If you only play what you earned from interest, you cannot lose money but let me correct few point :

- It is the total amount of Chancecoin that change. You don't get dividend, it is the value of the Chancecoin that goes up because there is less and less Chancecoin.

- The value of Chancecoin also depend on the market : offer and demand. But contrary to a PoW coin, no one is dumping from mining and make it go down.

[notsoshifty]

Yes, you'll get interest based on the activity. The more people play, the higher is the interest.
If you only play what you earned from interest, you cannot lose money but let me correct few point :

- It is the total amount of Chancecoin that change. You don't get dividend, it is the value of the Chancecoin that goes up because there is less and less Chancecoin.

- The value of Chancecoin also depend on the market : offer and demand. But contrary to a PoW coin, no one is dumping from mining and make it go down.

Even with a positive house edge built into the system, there is always the possibility that the value of each Chancecoin trends down (with more and more total Chancecoin) due to design or implementation flaws.

[superresistant]

Yes, you'll get interest based on the activity. The more people play, the higher is the interest.
If you only play what you earned from interest, you cannot lose money but let me correct few point :
- It is the total amount of Chancecoin that change. You don't get dividend, it is the value of the Chancecoin that goes up because there is less and less Chancecoin.
- The value of Chancecoin also depend on the market : offer and demand. But contrary to a PoW coin, no one is dumping from mining and make it go down.

Even with a positive house edge built into the system, there is always the possibility that the value of each Chancecoin trends down (with more and more total Chancecoin) due to design or implementation flaws.

Yes. Innovation is a risk.
We must discuss the flaws and fix problems.

We are all waiting for the devs to finish the new client and then answer our questions about the theoretical Bitcoin mining pool abuse.

[voldemort628]

i think the number of chancecoin is fixed. when someone wins a bet, the prize will be "drawn" from all the balances (yes , including yours even if you dont do anything, because remember that owning chancecoin = bankrolling on the house ) . so technically your chancecoin balance will be constantly changing even though by an insignificant amount.

@SR: which mining pool abuse? :| can u please link me up to that? thanks

[notsoshifty]

Yes. Innovation is a risk.
We must discuss the flaws and fix problems.

We are all waiting for the devs to finish the new client and then answer our questions about the theoretical Bitcoin mining pool abuse.

Indeed. I'm still happy I burnt what I did

[TwinWinNerD]

i think the number of chancecoin is fixed. when someone wins a bet, the prize will be "drawn" from all the balances (yes , including yours even if you dont do anything, because remember that owning chancecoin = bankrolling on the house ) . so technically your chancecoin balance will be constantly changing even though by an insignificant amount.

@SR: which mining pool abuse? :| can u please link me up to that? thanks

that is wrong. You should read on the website, how the betting resolution works

[superresistant]

@SR: which mining pool abuse? :| can u please link me up to that? thanks

It is complicated to explain. Basically, if someone would take control of a big Bitcoin mining pool, he may be able to increase his chance of wining.
It is not an immediate danger because you cannot take control of a Bitcoin mining pool just like that but it is definitely something to be discussed and fixed.
I am convinced that the devs have real coding skills and understand the risk.

[Hotodamoon]

@SR: which mining pool abuse? :| can u please link me up to that? thanks

It is complicated to explain. Basically, if someone would take control of a big Bitcoin mining pool, he may be able to increase his chance of wining.
It is not an immediate danger because you cannot take control of a Bitcoin mining pool just like that but it is definitely something to be discussed and fixed.
I am convinced that the devs have real coding skills and understand the risk.

Ok. very clear. thx.

[Janitor]

It is complicated to explain. Basically, if someone would take control of a big Bitcoin mining pool, he may be able to increase his chance of wining.

Approximately 500 BTC was burned in for Chancecoin and there's $5+ billion in BTC that they could go after.
The idea that anyone smart (or rich) enough to hack Bitcoin would bother with betting with CHA is really funny.

We need more conspiracy theories, guys! (I don't mean you, superresistant).

[nightwishx]

Update from the dev team:

We are very excited by the success of the burn period. The fact that 480 BTC were burned into over 500,000 CHA proves to us that people believe in Chancecoin.

We have been working diligently on the new bitcoinj version of the wallet software, and we're excited to announce that we will be releasing it on Sunday, May 4. Stay tuned for that and more exciting updates to follow.

Magician

Good news.

We didn't have to wait long for an answer.

[notsoshifty]

It is complicated to explain. Basically, if someone would take control of a big Bitcoin mining pool, he may be able to increase his chance of wining.

Approximately 500 BTC was burned in for Chancecoin and there's $5+ billion in BTC that they could go after.
The idea that anyone smart (or rich) enough to hack Bitcoin would bother with betting with CHA is really funny.

We need more conspiracy theories, guys! (I don't mean you, superresistant).

It's not necessary that you take over a bit Bitcoin mining pool, it's sufficient that you merely be a big Bitcoin mining pool.

Ever saw pool operators try to harm altcoins before? Such an attack would cost them absolutely nothing.

[TwinWinNerD]

I think the first trade on the decentralised exchange was just done!

Someone posted a 0.3 CHA order for 0.007/CHA.

I sold the 0.3 CHA and after 3 confirmations, I got the BTC on my BTC address and he got his CHA!

Order:
https://blockchain.info/de/tx/f36840bbf8fc36f0bb6b5fa740df3bf8d54083b210f5daa839d540ee609966af

Settlement:
https://blockchain.info/de/tx/435d557f39032e713c3565066cb02e9bcd11de919ff747cf1579ae42f78e9ddc

Exciting stuff!

[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?

I am using windows xp ,bitcoin-qt 0.9.1,chancecoin wallet 1.5
after doing this the problem solved:

check the setting of bitcoin.conf(C:\Users\(your user name)\AppData\Roaming\Bitcoin)
and chancecoin.conf(C:\Users\XXX(your user name)\AppData\Roaming\Chancecoin\chancecoin)
the "rpcuser"and"rpcpassword"of both .conf should be the same.
in my case
bitcoin.conf:
rpcuser=rpc
rpcpassword=rpcpw1234
server=1
daemon=1
txindex=1

chancecoin.conf
[Default]
bitcoind-rpc-connect=127.0.0.1
bitcoind-rpc-port=8332
bitcoind-rpc-user=rpc
bitcoind-rpc-password=rpcpw1234

hope this can help you
 

Got it.
Seems work now.
Thanks.

[Janitor]

It is complicated to explain. Basically, if someone would take control of a big Bitcoin mining pool, he may be able to increase his chance of wining.

Approximately 500 BTC was burned in for Chancecoin and there's $5+ billion in BTC that they could go after.
The idea that anyone smart (or rich) enough to hack Bitcoin would bother with betting with CHA is really funny.

We need more conspiracy theories, guys! (I don't mean you, superresistant).

It's not necessary that you take over a bit Bitcoin mining pool, it's sufficient that you merely be a big Bitcoin mining pool.

Ever saw pool operators try to harm altcoins before? Such an attack would cost them absolutely nothing.

I saw your posts on this topic before. Didn't one of developers said that protocol could be modified so that winners are declared slower (after a slightly (few min's) longer delay)?
I also read that tolerance for the maximum time skew among nodes on the network can be tightened, although I don't understand about it enough to be able to say whether it applies here.

It does't seem like something catastrophic. Of course the devs should have the last word, but as far as I am concerned it's enough to monitor the stats - if anyone's cheating even just a litte bit it'd be very easy to spot and then the devs upgrade the s/w to introduce those delays (unless the problem isn't fixable, which doesn't sound to be the case).

[notsoshifty]

I saw your posts on this topic before. Didn't one of developers said that protocol could be modified so that winners are declared slower (after a slightly (few min's) longer delay)?

Timings can be tweaked, yes (but the downside is that customers might be turned off by long result times). What exactly do you mean by "winners are declared slower"? Currently the technical section of the website says "A bet seen in the blockchain will be resolved with the next available set of Quick Draw numbers"; should that be amended to "A bet seen in the blockchain will be resolved with the next available set of Quick Draw numbers that occurs a minimum of X seconds after the announced block time"?

I also think the technical section of the website should address (describe) the event where a user's bet is in a block which is later orphaned. Might he win in the orphaned block and lose in the actually-accepted block?

I also read that tolerance for the maximum time skew among nodes on the network can be tightened, although I don't understand about it enough to be able to say whether it applies here.

That would have to be maximum time skew accepted in the Bitcoin network, which we don't have any control over.

It does't seem like something catastrophic. Of course the devs should have the last word, but as far as I am concerned it's enough to monitor the stats - if anyone's cheating even just a litte bit it'd be very easy to spot and then the devs upgrade the s/w to introduce those delays (unless the problem isn't fixable, which doesn't sound to be the case).

How would you spot any cheating (as opposed to, say, someone happening to win a bet with a time very close to the NY lottery announcement every four minutes; an event which should occur fairly often)?

I also don't think the problem is catastrophic. I'd just prefer the problem was fixed sooner rather than later. Don't wait for your house to be burgled before installing locks!

[provenceday]

can somebody write a articles on chance coin? would like to post it on some main Chinese altcoin forums.

[liyanhong]

I know the world cup is coming, maybe there will be some gambling sites coming soon.
 

[ZarkMark]

I know the world cup is coming, maybe there will be some gambling sites coming soon.
 

Hey Dude, Please do not just copy and paste other's word. Try to express your own ideas.