l0tt0.com - provably fair conversation

[dewez]

Hello,

I'm Josh- I recently launched my latest project, l0tt0.com. It's a bitcoin instant lottery + casino site. At first, I was going to make it a tradional lottery site. But soon realized lottery sites are boring as hell.. Regardless, I came up with the idea that the winning number should be drawn from the price of Bitcoin. If the winning number was drawn at 11PM daily, and at 11PM the price of btc was say $29,021.59... the winning number would be 59 (the last two decimals).
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I then signed up for some API's to get access to prices etc. I soon noticed that CoinCap (https://api.coincap.io/v2/rates/bitcoin), CoinGecko (https://api.coingecko.com/api/v3/simple/price?ids=bitcoin&vs_currencies=USD&precision=16) and CoinMarketCap (need a key to view it) offered btc prices that went well beyond the 2nd decimal.. After first seeing that they went way beyond the 2nd decimal, some to the 16th, other to the 12th.. 9th.. and so on.. I ditched the standard lottery idea and came up with instant games, now that I wasn't bound to just two digits.

So.. Currently my site takes prices from different exchanges (which update at different time frames) at 5 seconds apart, and ads the current with the last, divides by two and logs it in the db. So I get a price update thats smooth, and updates every 5 seconds... I have done calculations on the results, and with the price going down to the 16th decimal, its is as random as random gets. I have 1056873 price enteries to date- and when I run all of them through my bingo game, I get the correct odds...same as a RNG.

I have an API (https://www.l0tt0.com/api/price.php) that my games use. when you place a bet, it checks the price, sleeps for a second, checks again, and so on, until there is a change.. it then uses that price and it's decimals for the winning numbers for that game.

It's 100% legit. I don't mess with anything.... and the take away is, everyone is getting the same numbers. If you and I are playing my Quick Pick game, and we both bet on 11, both click the place bet button at the same time, we will win or lose together. ALWAYS.

The reason I creative this thread is because there were some concerns over this method being provably fair... I know it is, because I know my code and it's legit and honest.
What I'm a little stuck on is... how do I prove it to you?

Any ideas on what I can do, beyond my API (which allows for historical price view)? I'm looking forward to any constructive and clever ideas, so that I can get your trust and be provably fair without a doubt.


Thank you for your time,

Josh

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[dewez]

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[decodx]

From my understanding, even though you may believe that your number selection system is fair (given that you developed the code and are aware of the underlying logic), you cannot provide conclusive evidence to a neutral observer. As a result, the system lacks provable fairness. A truly provably fair mechanism always includes a verifiable component, which is currently absent in your system.

I understand that's not what you wanted to hear, but that's how I see it.

[Yaunfitda]

Perhaps if we can used this site https://www.btcgosu.com/tools/provably-fair-verifier/ to check and verify every results of your instant lottery?

Or maybe you can work it out with one of our forum member, efialtis. Maybe he can help you out with your casino's and it's provably fair method.

Best of luck.

[LoyceV]

The reason I creative this thread is because there were some concerns over this method being provably fair... I know it is, because I know my code and it's legit and honest.

I think you're confusing "fair" with "provably fair". If it would be provably fair, you wouldn't have to create this topic.
You can now only claim it's fair (as any casino would), and we have to trust you on that. Only if we can verify it, it becomes provably fair.

What I'm a little stuck on is... how do I prove it to you?

With your current setup, that looks impossible. Even if someone else would check the same APIs to verify if the result is the same, that would open up the possibility for someone with a faster server to cheat and have an edge against the house. Or someone inside CoinCap or CoinGecko could cheat.

[FatFork]

It's 100% legit. I don't mess with anything.... and the take away is, everyone is getting the same numbers. If you and I are playing my Quick Pick game, and we both bet on 11, both click the place bet button at the same time, we will win or lose together. ALWAYS.

The idea is interesting, but it lacks verifiable evidence. When you claim "I don't mess with anything," we have no choice but to trust your words. That's not provably fair.

What I'm a little stuck on is... how do I prove it to you?

Any ideas on what I can do, beyond my API (which allows for historical price view)?

How can we retrieve historical price information using your API? I can only see the current price and timestamp. But, even if it's possible to request values for any given time, it doesn't guarantee that the values are not manipulated.

I'm looking forward to any constructive and clever ideas, so that I can get your trust and be provably fair without a doubt.

I couldn't explore your betting system further since it requires creating an account and placing real bets, which I'm not inclined to do at the moment. It would be good if there was a demo or testing feature available that doesn't involve real money.