BET.OLIVETITAN.COM - FAIR, P2P, 2of3 MULTISIG BETTING EXCHANGE | USING ELECTRUM

[raymondwu]

Hey guys!

I'm raymondwu, and I'm offering a homerun, fair, p2p betting exchange where you can bet with an electrum wallet.

How it works:

There are 3 people, YOU, ME (AUTOMATED ESCROW), and THE OPPONENT. The gist is, 2 people have to agree to spend the deposited funds. So if your opponent is a trusted member, you don't have to worry about the escrow trying to steal your funds, because none of you want that!

First, either you or your opponent opens an offer. For this, they will have to create a new seed using electrum safely, and give it to no one else. When you create a seed for a 2of3 multisig wallet in electrum, it will give you a master public key, (Zpub) that lets other cosigners of the multisig wallet, collaborate and generate common addresses for the wallet.

Once the offer maker has a Zpub, they can create an offer. Now they have to wait for someone else to join the offer.

Same process repeats for the joiner, but when he gives his Zpub to the website, the website/escrow can generate common addresses since all the 3 Zpubs are now known. (site generates its own escrow Zpub). Now both users can generate a wallet, using the 3 Zpubs shown on the site.

The offer creator needs to approve the joiner, and now both of them can deposit coins to the wallet with common addresses. When the escrow determines the winner,
the escrow will sign a transaction, the winner can sign it too and then broadcast the transaction.

So at the end, we have a safe bet successfully completed.

Please watch the tutorial if this is confusing!

Thank you!

SITE

For advanced users:

Receipt issued through:

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FINGERPRINT: 90B43EB7E88123EF132D473D8C00797DF52C4277

[notblox1]

bump. always open to questons etc

Are you the owner?
People can be suspicious with many newbies who register in forum and post new service nobody heard about.
First you need to post some basic textual information about this betting platform, image is not visible except if you pay small copper membership fee, or be active to rank up:
https://bitcointalk.org/index.php?action=credit;promote

[Potato Chips]

Don't take this the wrong way but your infographic makes me a bit dizzy, feels like the letters were moving slightly lol. Maybe it's because of the shadows in a high contrast black background? -- cmiiw. If you're up for it, you may wanna consider hiring a graphic designer for your ANN thread, see list: https://bitcointalk.org/index.php?topic=5406507.0

BTW, what do you mean by "cryptographically can't exit scam" it's interesting to say the least, how does this work? could we also verify this?

[raymondwu]

bump. always open to questons etc

Are you the owner?
People can be suspicious with many newbies who register in forum and post new service nobody heard about.
First you need to post some basic textual information about this betting platform, image is not visible except if you pay small copper membership fee, or be active to rank up:
https://bitcointalk.org/index.php?action=credit;promote

Hi, yes I am. Yeah, well this platform has already failed and I'm working on something new (Opensource betwallet)
I am just posting here to see if someone is interested in the meantime. I am too poor right now for copper unfortunately. I thought the tutorial on the website would be enough to explain things but apparently it's not

Don't take this the wrong way but your infographic makes me a bit dizzy, feels like the letters were moving slightly lol. Maybe it's because of the shadows in a high contrast black background? -- cmiiw. If you're up for it, you may wanna consider hiring a graphic designer for your ANN thread, see list: https://bitcointalk.org/index.php?topic=5406507.0

BTW, what do you mean by "cryptographically can't exit scam" it's interesting to say the least, how does this work? could we also verify this?

Hey, about "cryptographically can't exit scam". Well it's really a p2p system. You need 3 people to make a bet. 1 person is me the escrow (automated electrum wallet basically, behind the scenes). The site uses 2 of 3 multisig, so 2 people need to agree to spend the funds. The 2 of 3 multisig wallet is created using electrum, deposits are only made after a common wallet is created for all 3 participants. The only way to exit scam is if your opponent and the escrow(me) collaborate to steal your funds in the common wallet.

[Strongkored]

SITE

POSTER
===============================================



===============================================
For advanced users:

Receipt issued through:

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FINGERPRINT: 90B43EB7E88123EF132D473D8C00797DF52C4277

Quote to show the image, and honestly it doesn't look very attractive
not sure that something that is rare in gambling can attract a lot of gamblers' attention, because gamblers will prefer something that is common because it doesn't require time to adapt, also because your platform is new and saying that you can't afford 0.00044861 BTC for copper members seems to increase gamblers' doubts about try playing here.

Or maybe you don't know the fees for copper membership?

[yahoo62278]

 I am too poor right now for copper unfortunately.

This line right here would concern me if I was to consider using your site. If you cannot afford a copper membership, how will you pay someone from your own pocket if you cannot prove a bet lost?

[raymondwu]

 I am too poor right now for copper unfortunately.

This line right here would concern me if I was to consider using your site. If you cannot afford a copper membership, how will you pay someone from your own pocket if you cannot prove a bet lost?

Hey, yeah I get what you mean. I meant to say, I am too poor to invest further into advertising and whatnot for this project since I'm already working on a new project. It'd be like throwing money into a blackhole. I've made very bad financial decisions in the past. I know buying a rank in a forum boosts up confidence in people, and I have bought a membership before on another forum, and I advertise there too. I advertise there and if anyone is concerned about me not paying out someone in case of an error, I'd be happy to share that profile with them, so you can check out my activity over there. If the forum rules allow post it here. I don't have any crypto right now to prove, but I have owned crypto since 2020. I sold everything at the peak at $73000  for fiat, so I'll have to do p2p exchanges to buy crypto back, which is a pain. Here's a signed message from an address with a reasonably good enough amount of money that I had in 2020, I know it doesn't prove i can payout but it's a start till I have time update the thread to better reflect what I'm offering! Address: bc1qug8deddmrtzqhn5kg6p0ang53y60nrrgemz8w8, Message: bitcointalk:raymondwu, Signature: IDcCFxEY7pqJaqsfJi8jyqQC4IzCC+lQ+z5GEOxAHEdALP3z67t66RuJPUKLNGG5Lhs9R4Rbhfa1zkaGquUvITA=

[freedomgo]

Sorry @raymondwu, but hearing from you the word "poor" doesn't give a good impression on your business. Copper membership isn't that much, I mean if you are really serious with your what you are offering here in the forum, you should at least make this ANN thread more enticing, as you know, first impression last, that's how people judge you here.

[joeperry]

Hi, welcome to the forum! Just like what other says, upgrading your account to copper membership is not that but (it's actually cheap) and you can improve your ANN thread by having a good design to attract users in your site. It's actually a free advertising if your account managed to post images as that would attract people.

I've visited the site, if I am not mistaken it's not a typical gambling site but rather a platform where people can offer bet to others, so the owner of the site doesn't do anything with winners or losers as he/she will have a commission for every opened bets, was that right?

[raymondwu]

Hi, welcome to the forum! Just like what other says, upgrading your account to copper membership is not that but (it's actually cheap) and you can improve your ANN thread by having a good design to attract users in your site. It's actually a free advertising if your account managed to post images as that would attract people.

I've visited the site, if I am not mistaken it's not a typical gambling site but rather a platform where people can offer bet to others, so the owner of the site doesn't do anything with winners or losers as he/she will have a commission for every opened bets, was that right?

Yeah, exactly. The service basically proves that the loser, INDEED LOST. If someone lost, we will give them proof, if needed. If we are in error, I'll payout the victim. Sure, I will probably buy copper membership to announce my next project. (Better UX, Open source). But for now, I'd love to leave this thread be without buying copper. Thank you! I hope you guys understand, I want to do what's best with my money, and I'm very new to the forum, so I want to do some digging in here too, you know?

[AmoreJaz]

Sorry @raymondwu, but hearing from you the word "poor" doesn't give a good impression on your business. Copper membership isn't that much, I mean if you are really serious with your what you are offering here in the forum, you should at least make this ANN thread more enticing, as you know, first impression last, that's how people judge you here.

Well, we can't force him to buy one as it is his prerogative to do so. He knows what he wants and it is his money. But that is true, it gives a not-so-good first impression for the business. In this case, it depends on the users if they will still play here or not. No one is obliging them to use the site anyway. And do take note, most p2p betting exchange can't achieve success in long term. This is only based from what I've seen. I remember one site launched here, they even gave some free money for users to try their site. But unfortunately, their existence was just short-lived. How much more if the site is seen to be limited with financial resources? Let us see...

[khaled0111]

If a player creates an offer, how can he be sure his opponent (who joins) is not you or someone you are collaborating with? For this to work, players need to play only against people they know/trust. Adding an option to invite friends to join a game is necessary, imo.
The idea is innovative but it's a bit complicated especially for non tech-savy people. They will have hard time trying to figure out how every thing works (creating multi sig wallets, hashing the bet..)

[Fivestar4everMVP]

 I am too poor right now for copper unfortunately.

This line right here would concern me if I was to consider using your site. If you cannot afford a copper membership, how will you pay someone from your own pocket if you cannot prove a bet lost?

Hey, yeah I get what you mean. I meant to say, I am too poor to invest further into advertising and whatnot for this project since I'm already working on a new project. It'd be like throwing money into a blackhole. I've made very bad financial decisions in the past. I know buying a rank in a forum boosts up confidence in people, and I have bought a membership before on another forum, and I advertise there too. I advertise there and if anyone is concerned about me not paying out someone in case of an error, I'd be happy to share that profile with them, so you can check out my activity over there. If the forum rules allow post it here. I don't have any crypto right now to prove, but I have owned crypto since 2020. I sold everything at the peak at $73000  for fiat, so I'll have to do p2p exchanges to buy crypto back, which is a pain. Here's a signed message from an address with a reasonably good enough amount of money that I had in 2020, I know it doesn't prove i can payout but it's a start till I have time update the thread to better reflect what I'm offering! Address: bc1qug8deddmrtzqhn5kg6p0ang53y60nrrgemz8w8, Message: bitcointalk:raymondwu, Signature: IDcCFxEY7pqJaqsfJi8jyqQC4IzCC+lQ+z5GEOxAHEdALP3z67t66RuJPUKLNGG5Lhs9R4Rbhfa1zkaGquUvITA=

I followed the discussion a bit and sorry to say, if I had any intention of trying out this you are offering, after reading this comment, if I am to go with the impression it gives, I won't bother wasting my time and resources on trying out your casino (if I can call or refer to it as such).

This looks to me or rather, gives me a feeling that you don't even have any of plan or expectation of someone winning and you having to pay the user, makes me doubt if the game you have built is truly a fair game, or it's a software you've programmed to try to make money from people, which means, any user depositing money and playing here will only lose.

Sorry if my comment is not completely inline with the process of the service you offer to the gambling community, I am still yet to fully understand how this works actually.

[raymondwu]

Sorry @raymondwu, but hearing from you the word "poor" doesn't give a good impression on your business. Copper membership isn't that much, I mean if you are really serious with your what you are offering here in the forum, you should at least make this ANN thread more enticing, as you know, first impression last, that's how people judge you here.

Well, we can't force him to buy one as it is his prerogative to do so. He knows what he wants and it is his money. But that is true, it gives a not-so-good first impression for the business. In this case, it depends on the users if they will still play here or not. No one is obliging them to use the site anyway. And do take note, most p2p betting exchange can't achieve success in long term. This is only based from what I've seen. I remember one site launched here, they even gave some free money for users to try their site. But unfortunately, their existence was just short-lived. How much more if the site is seen to be limited with financial resources? Let us see...

So one can understand why I am not willing to invest further into advertising, I mean it has failed before, what difference would it be here? Respectfully, I will not be responding to anymore questions or criticism related to copper membership. I will buy it if I want it.

If a player creates an offer, how can he be sure his opponent (who joins) is not you or someone you are collaborating with? For this to work, players need to play only against people they know/trust. Adding an option to invite friends to join a game is necessary, imo.
The idea is innovative but it's a bit complicated especially for non tech-savy people. They will have hard time trying to figure out how every thing works (creating multi sig wallets, hashing the bet..)

Invite a friend feature is already implemented actually. Well sort of. As you mentioned you need to verify that it is not me that you are playing against before making any deposits. When you create an offer, the site asks you for, "Public contact info:", you'll have to give an answer like, "I am khaled0111 from bitcointalk". And then you can share the offer link with your friend, your friend can generate the common addresses, and then contact you with all the info on bitcointalk. You can approve the user with the correct info, verifying that it is your friend you are playing against   After that you can make deposits to the correct wallet.Yeah, this site is complicated to use :/ That's why I'm working on a new project, an opensource betting wallet, with most of the hard stuff automated

I followed the discussion a bit and sorry to say, if I had any intention of trying out this you are offering, after reading this comment, if I am to go with the impression it gives, I won't bother wasting my time and resources on trying out your casino (if I can call or refer to it as such).

This looks to me or rather, gives me a feeling that you don't even have any of plan or expectation of someone winning and you having to pay the user, makes me doubt if the game you have built is truly a fair game, or it's a software you've programmed to try to make money from people, which means, any user depositing money and playing here will only lose.

Sorry if my comment is not completely inline with the process of the service you offer to the gambling community, I am still yet to fully understand how this works actually.

No, this is completely peer to peer. Meaning you can play against trusted friends if you like. Since it's 2of3 multisig, I need 2/3 people to cooperate to scam one of you. If you are playing against a friend, even if I refuse to give you guys back your money, you 2 can cooperate and recover your funds. This is explained at the end of the tutorial. There is no need to make any deposits beforehand to create an offer. Try creating an offer if you have time, and let me know if you have any concerns. I'm happy to debate about game mechanics if you are worried about this not being "fair". One of the 2 peers that make deposits will win. I only gain a commision for helping users coordinate safely. Thank you!

[khaled0111]

Invite a friend feature is already implemented actually. Well sort of. As you mentioned you need to verify that it is not me that you are playing against before making any deposits. When you create an offer, the site asks you for, "Public contact info:", you'll have to give an answer like, "I am khaled0111 from bitcointalk". And then you can share the offer link with your friend

Thank you for the prompt response. I wasn't aware this feature already exists. Now things make more sense and players don't have to worry about the trust issue.
Just one more question, when playing RPs, for example, do players need to create a new multi-sig wallet for each round? If yes, then am sure most users will likely feel bored and lose interest after the first few rounds.

Yeah, this site is complicated to use :/ That's why I'm working on a new project, an opensource betting wallet, with most of the hard stuff automated

Good luck with your new project!

[raymondwu]

Thank you for the prompt response. I wasn't aware this feature already exists. Now things make more sense and players don't have to worry about the trust issue.
Just one more question, when playing RPs, for example, do players need to create a new multi-sig wallet for each round? If yes, then am sure most users will likely feel bored and lose interest after the first few rounds.

Yeah, for security and privacy reasons a new wallet is created everytime. It's best practice to not use the same public keys when using BTC as you know

Thank you!

[raymondwu]

Bump