Chancecoin is my favorite novelty coin and here is why!

[TwinWinNerD]

Chancecoin is combining casino games and blockchain approach, to create the first ever decentralised casino. Not like counterparties peer2peer solution, where you bet against other people, but real house bankroll and edge.

This already sounds awesome?



It is secure: Why? Because it is based on the bitcoin blockchain like counterparty!

It is provable fair: Why? It is opensource and uses the New York online lottery drawings that happen every 4 minutes! You can check if the results are correct!

It is fairly distributed: Why? The coins were brought into existence using a proof of burn algorythm, where Bitcoins had to be destroyed to create CHA! Even now, the price of one CHA is equal to the price of the Proof of burn, so latecomers are not at a disatvantage!

It is inovative: Why? The developer team created a client based on bitcoinJ, the java bitcoin implementation. It is lightweight, fast and easy to use.

It is staying innovative: Why? The developer team is constantly thinking about introducing new games and in the coming weeks a video poker game will be added!

It is a good investment: Why? As a holder of Chancecoin, you are automatically investing into the house bankroll. So as a holder you will always have a positive expected value ! No dilution through new mined coin! No inflation! Only deflation from here on out!

It is fun: Why? Come on, everyone likes to gamble once in a while Why not do it directly in the client? I rather trust the bitcoin blockchain, than any anonymous bitcoin gambling site with my funds to be honest!

It is social: Why? Integrated chat, highscores, highroller lists, all time highest winners any many more things to come!

It is dirt cheap right now: Why? At 0.44$ a piece and only 514000 coins EVER to be in existence, the market cap is only 230000$.

GIF of the awesome client:


Chancecoin just released the newest version!

The newest betting mode is: POKER

Here you get dealt 2 cards and see the cards of the opponent and the flop. You can now bet something or fold. If you want to bet, the client calculates the odds of you winning. This odds are then played like a dice game, but your bet will be resolved with revealing the last 2 cards, instead of a number. Pretty cool and addicting!



Obviously the degenerate I am, I tested it already and are am up already, weeeeeee

One of my bets, SHIP IT!


Want to see what coins have an equal market cap?



RIDICULOUS RIGHT??

Well, the smart investor will know why this coin will be on the top of 2014s biggest winners

I hope you can understand why I LOVE Chancecoin and why you should too!

More information about CHA can be found:

Website: chancecoin.com
BTT-Thread: https://bitcointalk.org/index.php?topic=528023.0
Exchange: https://poloniex.com/exchange/btc_cha

[BitzMD]

This is great stuff

Well written post 

[reader31]

cant wait for the game...would be cool to play against the house...like vegas...only more fair

[TwinWinNerD]

cant wait for the game...would be cool to play against the house...like vegas...only more fair

Well, it is not "real" texas holdem like playing against an opponent. It is video holdem poker. Like you can play on certain tables or machines in vegas.

Still pretty aweseome and I am very exited for it!

[Zer0Sum]

OK, I got it running...
Only being the Casino and getting payouts is interesting.

And you are already showing 1,500 CHA in profits...
But apparently you just change the CHA holdings based on casino profits...
It would be a 1000 times better if people get a payment when the house wins and vice versa...
Like once an hour or something...
I'm gonna run it for a day or two... and see.

You also need traders to provide liquidity on Poloniex...
Your volume is low = lack of interest + boring for traders.

[TwinWinNerD]

OK, I got it running...
Only being the Casino and getting payouts is interesting.

And you are already showing 1,500 CHA in profits...
But apparently you just change the CHA holdings based on casino profits...
It would be a 1000 times better if people get a payment when the house wins and vice versa...
Like once an hour or something...
I'm gonna run it for a day or two... and see.

You also need traders to provide liquidity on Poloniex...
Your volume is low = lack of interest + boring for traders.

The problem with payment every hour is that there would be an enourmous amount of data, and because data has to be stored on the BTC blockchain, space is expensive. So this solution is not only elegant but practical.

In effect this method is even better for "active" CHA because of the following:
Lets assume 2 scenarios:

1.) Payout/deduction after each win/loss: Someone loses 10% of all coins. Now everyone owns 10% more coins, those coins create liquidity and the exchange will see higher selling pressure. Price will get lower, but overall the Marketcap would stay nearly the same. Everyone would gain a few percentage.

2.) Total amount of coins is adjusted after each bet: Someone loses 10% of all coins. Now everyone owns the same amount of coins BUT a higher % of ALL coins. That means that if someone wants to buy coins on the exchange, he now has 10% less coins to buy from. But not only that, they part of the coins, that are liquid is not 100% but much less, lets say 30%. If 10% of all coins are lost, then now there are only "20%" liquid coins. Making the coin much more scarce and the netto effect is even more positive, resulting in an even higher price than +10%

Obviously this is no mathematical proof, but given constant demand, this is quite likely outcome!

We not only need higher traffic on the exchange, but also higher betting volume, this will drive the demand for coins and also increase the expected value of coin holders.

But I am certain, that once people know CHA they will ALL love it

[Zer0Sum]

OK, I got it running...
Only being the Casino and getting payouts is interesting.

And you are already showing 1,500 CHA in profits...
But apparently you just change the CHA holdings based on casino profits...
It would be a 1000 times better if people get a payment when the house wins and vice versa...
Like once an hour or something...
I'm gonna run it for a day or two... and see.

You also need traders to provide liquidity on Poloniex...
Your volume is low = lack of interest + boring for traders.

The problem with payment every hour is that there would be an enourmous amount of data, and because data has to be stored on the BTC blockchain, space is expensive. So this solution is not only elegant but practical.

In effect this method is even better for "active" CHA because of the following:
Lets assume 2 scenarios:

1.) Payout/deduction after each win/loss: Someone loses 10% of all coins. Now everyone owns 10% more coins, those coins create liquidity and the exchange will see higher selling pressure. Price will get lower, but overall the Marketcap would stay nearly the same. Everyone would gain a few percentage.

2.) Total amount of coins is adjusted after each bet: Someone loses 10% of all coins. Now everyone owns the same amount of coins BUT a higher % of ALL coins. That means that if someone wants to buy coins on the exchange, he now has 10% less coins to buy from. But not only that, they part of the coins, that are liquid is not 100% but much less, lets say 30%. If 10% of all coins are lost, then now there are only "20%" liquid coins. Making the coin much more scarce and the netto effect is even more positive, resulting in an even higher price than +10%

Obviously this is no mathematical proof, but given constant demand, this is quite likely outcome!

We not only need higher traffic on the exchange, but also higher betting volume, this will drive the demand for coins and also increase the expected value of coin holders.

But I am certain, that once people know CHA they will ALL love it

OK, sorry I now see that accounting is done in USD...
And CHA are not piad out... just the value of CHA in USD or BTC fluctuates.

It's obvious why you did it this way. Great.

I see you got somewhat of a floor under CHA at about 0.008

But a big, dumb dice game is probably a little old...
You could almost certainly do HTH poker = game of skill on a blockchain...
That would be the killer app... all the open source poker code is out there. 

In general, I question XCP because you are 3 levels away from Fiat...
USD > BTC > XCP > Casino... here you are 2 levels away. I'm trying to b

[TwinWinNerD]

Yes. New games will be awesome for this coin, but the developers are really top notch and I strongly beleive, that the games they will add will be awesome to play!

You can send and trade CHA directly against everything, just need to find a partner. On exchanges we only have poloniex and a CHA/BTC pair, but this will get better too!

Just wait until the chinese people find CHA and a CNY/CHA pair is opend

[Zer0Sum]

Yes. New games will be awesome for this coin, but the developers are really top notch and I strongly beleive, that the games they will add will be awesome to play!

You can send and trade CHA directly against everything, just need to find a partner. On exchanges we only have poloniex and a CHA/BTC pair, but this will get better too!

Just wait until the chinese people find CHA and a CNY/CHA pair is opend

I posted in your CHA ANN thread...
Right now you have a blockchain version of video dice...
(With video poker somewhere in the pipeline)...
Nothing new, just the same games for complete retards (maybe China is full of them).

Breaking the dam means a data FEED (scores, prices, etc)...
Then you have 100 times the potential with Games of Skill...
The FEED doesn't have to be "perfect"... just "good enough" so evrybody agrees to use it...
And it must be built by an INDEPENDENT team.

If you guys just kick this can down the road... CHA is small potatoes.

[jonesT]

Some giveaway to vote in mintpal?

[cryptonaut]

Would it be possible to turn this concept into an app? There are tons of gambling apps on Android but the tokens through CHA would be redeemable for real money!

[From Above]

Cool thread. Are u on the development team of Chancecoin Twinwinnerd?

[Zer0Sum]

Cool thread. Are u on the development team of Chancecoin Twinwinnerd?

OK, my last post...
You cannot transfer CHA from Polo without giving a Java application a BTC private key...
It's not clear what the security implications of this are... and it's not explained.

Since all you have here is a Big Dumb Dice game and profit sharing...
I see no reason whatsoever to have CHA at all... why not 100% BTC like 1,000 other operations.

None of the key issues surrounding decentralized games of skill have been solved by CHA...
So there are NO meaningful tech advances here... just a lot of Java code, even an external, govt RNG source...
The people that resolve crypto data feeds, HU poker and sports betting are the ones to invest in.

[superresistant]

Nice

[TwinWinNerD]

Chancecoin just released the newest version!

The newest betting mode is: POKER

Here you get dealt 2 cards and see the cards of the opponent and the flop. You can now bet something or fold. If you want to bet, the client calculates the odds of you winning. This odds are then played like a dice game, but your bet will be resolved with revealing the last 2 cards, instead of a number. Pretty cool and addicting!



Obviously the degenerate I am, I tested it already and are am up already, weeeeeee

One of my bets, SHIP IT!

[Fernandez]

Chancecoin is the one which is like XCP? Can you just implement something similar on XCP?

[TwinWinNerD]

Chancecoin is the one which is like XCP? Can you just implement something similar on XCP?

Yes it works like XCP in a way.

No, unfortunally you can't. With CHA the "wins" and "losses" are settled with destroying/creating CHA. This can't be implemented in Counterparty, because of that in XCP you need a "counterparty" to supply a bankroll and the games.

[GoodDaySir]

i think CHA is completely undervalued as only very few people see the potential of this coin. i cant blame anyone as you probably need a certain level of experience with online gambling.
gambling has always existed and will always exist. using the blockchain to have a decentralized casino is simply genius and is one of the greatest ideas based on the blockchain "technology".

[superresistant]

 
Chancecoin is a damn good investment.
Features are unique.
Development is very active.
Coins are undervalued.
Potential is huge.

[GoodDaySir]

Chancecoin is a damn good investment.
Features are unique.
Development is very active.
Coins are undervalued.
Potential is huge.

exactly. dont really understand why so few people realize it