[OLD][CSC]CasinoCoin ♠ A Digital Currency For The Regulated Online Gaming Sector

[GamingCoins]

*** General Update ***

In regards to what we are doing with the Casinos, all is moving ahead as before, we are just waiting for them to be signed off from their side.

Apologies we keep updating the date on casinocoinsites.com, but unfortunately this is all out of our hands.

In regards to SandCoins.com we have received positive feedback for offering a brand that is not gaming focused and have secured deals within this area.

I know we don't give updates but we felt it's only right for those interested.

thanks

GC

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[ugabuga]

*** General Update ***

In regards to what we are doing with the Casinos, all is moving ahead as before, we are just waiting for them to be signed off from their side.

Apologies we keep updating the date on casinocoinsites.com, but unfortunately this is all out of our hands.

In regards to SandCoins.com we have received positive feedback for offering a brand that is not gaming focused and have secured deals within this area.

I know we don't give updates but we felt it's only right for those interested.

thanks

GC

I appreciate that despite not having to give news of your business model, you have been coming to give a word of hope to the community that supports this coin.

I'll go through csc lotto to play a little, and I'm waiting for more information about sandcoins. There is already some business release date, which will use sandcoins ??

I want to also say: I feel same lack of giveaways codes ... when you will share more ??

Believe me, it's fantastic compete with friends for these giveaways ... and always keep a high interest in the coin.

[Abiky]

As promised would give an update on csclotto.com, for those interested you can access via

https://csclotto.com/index.php

We have done the following:

a) Added new design
b) Added some extra games

We are currently collecting data but it's fully bankrolled for those that want to test.

Thanks

GC

Site looks great. I love it and will definitely get my hands into it once it becomes fully operational. About how things have been going along with the casinocoinsites.com and the coin in general, I would say that the CSC team is working very hard in order to achieve great results. We may not be seeing positive things in the coin's price, in the meantime but still everything is being worked on to make CSC the best gambling alt coin in existence. I have to give it to you guys, bringing good development to the crypto currency and having a solid community for it. I think that is what makes a crypto the strongest. Just sharing my opinion. 

[casinocoin]

As promised would give an update on csclotto.com, for those interested you can access via

https://csclotto.com/index.php

We have done the following:

a) Added new design
b) Added some extra games

We are currently collecting data but it's fully bankrolled for those that want to test.

Thanks

GC

Love the new design, do you have an estimate of when you will be moving away from beta ?

[LawBC]

Want to sell 25.000 CSC for 0.55 BTC
Please make an offer.

[vhong]

Want to sell 25.000 CSC for 0.55 BTC
Please make an offer.

You can sell it on Cryptopia but expect it will be little lower than your asking price.

[GoldSeal]

Want to sell 25.000 CSC for 0.55 BTC
Please make an offer.

I think the going rate is 0.25 BTC for that. The miners are selling 15k+ a day on autosell. So you kind of have to compete with that.

[ajochems]

It turns out that the reality is even more different.

If you see the block chain explorer, the number of blocks generated per day is still much lower (at least in the last few weeks ...)

I'll give you some examples (always 24-hour intervals):

block between 1519513 and 1517920 ......... 1593 blocks
block between 1514815 and 1513484 ......... 1331 blocks
block between 1504933 and 1503818 ......... 1115 blocks
block between 1503050 and 1502389 ......... 661 blocks

But where I want to get is that even ,, always halving every 3 years, we have at least 17 years to mine.

If in 17 years, the CSC are not worth at least $ 100USD / each, and we can not live from the transaction fees, then we are damned .... LOL

Yes I was off from the first estimate of 15 million but you know where I am coming from and in the latter stages of the halving mining becoming basically worthless if CSC stays at one dollar so the fact of the matter is if we want CSC to be worth 100USD one day then we need to take action now. Id like for Andre to explain it some more but I imagine he is busy.

As said before, long term block time has been around 48 seconds on average. Would be nice if it was a bit closer to 30 seconds but not a mayor issue. What is (and has been) the biggest problem for CSC? Coin hoppers and autosell. One would expect that at current market prices the mining of CSC would reduce substantially as it is no longer profitable to mine CSC. However even at these low prices there is still some 1-2 Ghash of mining power directed at CSC. Most of those coins are sold on autosell and thus about 15.000 - 20.000 coins are dropped at the market every day. If we want to reduce that the only way is cutting the block reward. Doing so would protect current coin holders value in my opinion. All kind of halving schemes are worthless in my opinion and best thing to do is reduce it to a final 1 CSC level asap .... i still have not heard any mayor issues against that aside from cartmans comments about network hashing speed and i think that will be solved automatically IF the coin takes off in the future, .... if not we have no issue anyway

[ugabuga]

It turns out that the reality is even more different.

If you see the block chain explorer, the number of blocks generated per day is still much lower (at least in the last few weeks ...)

I'll give you some examples (always 24-hour intervals):

block between 1519513 and 1517920 ......... 1593 blocks
block between 1514815 and 1513484 ......... 1331 blocks
block between 1504933 and 1503818 ......... 1115 blocks
block between 1503050 and 1502389 ......... 661 blocks

But where I want to get is that even ,, always halving every 3 years, we have at least 17 years to mine.

If in 17 years, the CSC are not worth at least $ 100USD / each, and we can not live from the transaction fees, then we are damned .... LOL

Yes I was off from the first estimate of 15 million but you know where I am coming from and in the latter stages of the halving mining becoming basically worthless if CSC stays at one dollar so the fact of the matter is if we want CSC to be worth 100USD one day then we need to take action now. Id like for Andre to explain it some more but I imagine he is busy.

As said before, long term block time has been around 48 seconds on average. Would be nice if it was a bit closer to 30 seconds but not a mayor issue. What is (and has been) the biggest problem for CSC? Coin hoppers and autosell. One would expect that at current market prices the mining of CSC would reduce substantially as it is no longer profitable to mine CSC. However even at these low prices there is still some 1-2 Ghash of mining power directed at CSC. Most of those coins are sold on autosell and thus about 15.000 - 20.000 coins are dropped at the market every day. If we want to reduce that the only way is cutting the block reward. Doing so would protect current coin holders value in my opinion. All kind of halving schemes are worthless in my opinion and best thing to do is reduce it to a final 1 CSC level asap .... i still have not heard any mayor issues against that aside from cartmans comments about network hashing speed and i think that will be solved automatically IF the coin takes off in the future, .... if not we have no issue anyway

Okay. I just hope the money will not die of healing ... What I mean is that it is a sharp reduction. Maybe you could reduce to 2 or 3 coins, and at the end of the year to 1 for example ...

But if you guys come it is better to going just 1 .... I do not object, I hope that the community also manifest with some brevity ... after all, time is money ...

One thing is certain: with these prices, and only 1 coin reward, the miners will stop.

[GoldSeal]

It turns out that the reality is even more different.

If you see the block chain explorer, the number of blocks generated per day is still much lower (at least in the last few weeks ...)

I'll give you some examples (always 24-hour intervals):

block between 1519513 and 1517920 ......... 1593 blocks
block between 1514815 and 1513484 ......... 1331 blocks
block between 1504933 and 1503818 ......... 1115 blocks
block between 1503050 and 1502389 ......... 661 blocks

But where I want to get is that even ,, always halving every 3 years, we have at least 17 years to mine.

If in 17 years, the CSC are not worth at least $ 100USD / each, and we can not live from the transaction fees, then we are damned .... LOL

Yes I was off from the first estimate of 15 million but you know where I am coming from and in the latter stages of the halving mining becoming basically worthless if CSC stays at one dollar so the fact of the matter is if we want CSC to be worth 100USD one day then we need to take action now. Id like for Andre to explain it some more but I imagine he is busy.

As said before, long term block time has been around 48 seconds on average. Would be nice if it was a bit closer to 30 seconds but not a mayor issue. What is (and has been) the biggest problem for CSC? Coin hoppers and autosell. One would expect that at current market prices the mining of CSC would reduce substantially as it is no longer profitable to mine CSC. However even at these low prices there is still some 1-2 Ghash of mining power directed at CSC. Most of those coins are sold on autosell and thus about 15.000 - 20.000 coins are dropped at the market every day. If we want to reduce that the only way is cutting the block reward. Doing so would protect current coin holders value in my opinion. All kind of halving schemes are worthless in my opinion and best thing to do is reduce it to a final 1 CSC level asap .... i still have not heard any mayor issues against that aside from cartmans comments about network hashing speed and i think that will be solved automatically IF the coin takes off in the future, .... if not we have no issue anyway

Okay. I just hope the money will not die of healing ... What I mean is that it is a sharp reduction. Maybe you could reduce to 2 or 3 coins, and at the end of the year to 1 for example ...

But if you guys come it is better to going just 1 .... I do not object, I hope that the community also manifest with some brevity ... after all, time is money ...

One thing is certain: with these prices, and only 1 coin reward, the miners will stop.

If the price is 10x higher, miners will make the same as they do now. So I think a reduction in mining capacity is a temporary issue.

[CartmanSPC]

What is (and has been) the biggest problem for CSC? Coin hoppers and autosell. One would expect that at current market prices the mining of CSC would reduce substantially as it is no longer profitable to mine CSC. However even at these low prices there is still some 1-2 Ghash of mining power directed at CSC. Most of those coins are sold on autosell and thus about 15.000 - 20.000 coins are dropped at the market every day. If we want to reduce that the only way is cutting the block reward. Doing so would protect current coin holders value in my opinion. All kind of halving schemes are worthless in my opinion and best thing to do is reduce it to a final 1 CSC level asap .... i still have not heard any mayor issues against that aside from cartmans comments about network hashing speed and i think that will be solved automatically IF the coin takes off in the future, .... if not we have no issue anyway

Is this really a problem though? If someone chooses to sell their coins let them. Miners are simply getting paid at a discount for providing services to the CSC blockchain. People who see value in acquiring CSC will be able to accumulate more at a reduced price. By reducing the reward to 1 CSC you are immediately and artificially increasing the value for current coin holders...myself included...but is that what we want? In the end unless services start to materialize it wont matter.

It also set's a bad precedence in manipulating the currency....just food for thought. I am not opposed to doing so but lets be clear about what is being done and why.

As a business owner I would be hesitant to utilize a currency that is manipulated in the way CSC has been. It already has gone through at least one changing of the rules on top of a "hostile" takeover so who's to say it wont again. I should probably not speak up as I don't want to spook any potential investors or business plans.

For example...one could release a client that increases the reward to 100 and provide enough hashing power and nodes to make the change stick. That is the danger of a low hash rate...anyone can come in convinced enough people to agree and cause a fork if they so desired...it's how @casinocoin gained ownership from transcoder....but it is not a problem with just CSC...all coins with a low hashrate are in danger of such a thing.

Another way to stop the dumping is for the buy walls to be taken down. Let the price decrease to a point where the miners simply move on to something else. Of course that also introduces the low hashrate problem...which could be solved with AuxPOW.

I would say....decide on making whatever changes once and for all. Weigh the benefits of staying with a 30 second blocktime (bloat) vs 60 seconds. Consider whatever diff algo is necessary...figure out if AuxPOW is the way to go to ensure the blockchain is secure with enough hashing power to thwart an attack (it will happen if the coin starts to see real value), decide on the mining reward structure, etc.

[casinocoin]

By reducing the reward to 1 CSC you are immediately and artificially increasing the value for current coin holders...myself included...but is that what we want? In the end unless services start to materialize it wont matter.

It also set's a bad precedence in manipulating the currency....just food for thought. I am not opposed to doing so but lets be clear about what is being done and why.

As a business owner I would be hesitant to utilize a currency that is manipulated in the way CSC has been. It already has gone through at least one changing of the rules on top of a "hostile" takeover so who's to say it wont again. I should probably not speak up as I don't want to spook any potential investors or business plans.

I mean who doesn't want the currency to go up in value? I actually do agree tho, we have already went through a hard fork to address the change in total coins which a direct manipulation of what transcoder setup in the original specs, but we felt it was needed. Did we make the right choice, I think so?

Just hope people see the changes as an attempt to move forward and not an attempt to manipulate the value for only a little amount of time until people cash out.

For example...one could release a client that increases the reward to 100 and provide enough hashing power and nodes to make the change stick. That is the danger of a low hash rate...anyone can come in convinced enough people to agree and cause a fork if they so desired...it's how @casinocoin gained ownership from transcoder....but it is not a problem with just CSC...all coins with a low hashrate are in danger of such a thing.

Very possible, but that person has the hard task of convincing people to actually use their chain, and yes if you look at coinwarz the avg hashrate for scrypt coins is around 1-3gh.
Transcoder also disappeared and I did not want my original investments to disappear along with Casinocoin!  

I would say....decide on making whatever changes once and for all. Weigh the benefits of staying with a 30 second blocktime (bloat) vs 60 seconds. Consider whatever diff algo is necessary...figure out if AuxPOW is the way to go to ensure the blockchain is secure with enough hashing power to thwart an attack (it will happen if the coin starts to see real value), decide on the mining reward structure, etc.

We do need to realize that if CSC does really take off AuxPOW will benefit us from attacks, I'm going to create an additional channel over at the Slack to document this update and ensure there is a general consensus on what is being changed.

If you haven't already joined the slack please do so!
https://casinocoin.org/slack

[GoldSeal]

This block reward decrease is mostly about eliminating the dilution and providing a 30 year incentive to continue mining. If we were to mint all coins within 3 years, miners would only participate with higher minimum transaction fees. Fees like that could cripple a coin before it gets off the ground.

With regard to the number of coins, 38 million coins is likely sufficient to support casinos at this time. Reasonably, we'd like to crack that $150 - 200m market cap level as adoption of CSC grows. If we make it to top 5 I think we should have a good shot at staying there.

[ugabuga]

Well ... if we move forward, then carry on the accelerator ...

just a thought (in simplistic terms):

Today CSC is valued at about 1 penny (wallet values ...)

Today the network is about 2Ghash

If we reduce the 10CSC to 1CSC (ten times less), then we can also expect the network to reduce 200Mhash (ten times less), right?


When csc = $ 1USD (100 times ) then network also worth 20 ghâsh (100 times)

The obvious question is: is this enough value network ?? a secure network??

If so, send there the new wallet with the changes ...

[GoldSeal]

Well ... if we move forward, then carry on the accelerator ...

just a thought (in simplistic terms):

Today CSC is valued at about 1 penny (wallet values ...)

Today the network is about 2Ghash

If we reduce the 10CSC to 1CSC (ten times less), then we can also expect the network to reduce 200Mhash (ten times less), right?


When csc = $ 1USD (100 times ) then network also worth 20 ghâsh (100 times)

The obvious question is: is this enough value network ?? a secure network??

If so, send there the new wallet with the changes ...

Ajochems uploaded the current release candidate to https://github.com/casinocoin/casinocoin/tree/development/src

Please take a look and browse the proposed changes thus far

[gravitate]

maybe gamingcoins went to propose his idea to the casinino's and they were not interested then?

So whats the next protocol to make this coin big then?

[vividly]

I like your project. I will be following it!

[Marec4]

maybe gamingcoins went to propose his idea to the casinino's and they were not interested then?

Latest update few days ago from Gamingcoins:

*** General Update ***

In regards to what we are doing with the Casinos, all is moving ahead as before, we are just waiting for them to be signed off from their side.

Apologies we keep updating the date on casinocoinsites.com, but unfortunately this is all out of our hands.

In regards to SandCoins.com we have received positive feedback for offering a brand that is not gaming focused and have secured deals within this area.

I know we don't give updates but we felt it's only right for those interested.

thanks

GC

[vividly]

I like your project. I will be following it!

[gravitate]

maybe gamingcoins went to propose his idea to the casinino's and they were not interested then?

Latest update few days ago from Gamingcoins:

*** General Update ***

In regards to what we are doing with the Casinos, all is moving ahead as before, we are just waiting for them to be signed off from their side.

Apologies we keep updating the date on casinocoinsites.com, but unfortunately this is all out of our hands.

In regards to SandCoins.com we have received positive feedback for offering a brand that is not gaming focused and have secured deals within this area.

I know we don't give updates but we felt it's only right for those interested.

thanks

GC

thanks. I cant wait to travel to the bahamas and spend 100 k  B$