[Announcing / Development]
The CrackPipe - Have transactions piped through
DiceOnCrack.com so you can
sell more goods /
gain extra tips /
raise more funds!A hypothetical: You have 60 cents in change, but want a $1.00 coke. Nothing gets done. Imagine there are 10 people who would be willing to do this. That is $6.00 that coke does not sell, and $6.00 worth of refreshment the consumer doesn't enjoy. What if that coke machine would take your 60 cents, and give you a 60% chance at a coke (that is provably fair)? Isn't the economy better off? Win or lose, there is an extra 60 cents in GDP vs 0 cents in GDP, so yes -- we argue society benefits from the risk taking of the consumer and producer. As a bonus, would the consumer not get SOME satisfaction, even with a 60 cent loss? And doesn't a $1.00 coke for 60 cents taste extra sweet? In the long run, the consumer will get a coke for every $1.00 he plays, but there will be MORE product sold and consumed.
USES
Product Sales:
Selling an item? Why not get a 1Pipe address with a wager that will net you the amount in BTC if it results in a win. DiceOnCrack.com will take the risk of loss. Note: The buyer will have to sign a message from the sent address to prove he/she sent the wager as DiceOnCrack will not mediate the transaction itself, only the wager. (We suggest the "Minefield" game for fixed price sales, and you will need to request a certain wager). Example, suppose you have an item to sell for 5.0 btc. You can offer:
* Buy now for 5.00 btc
* Try to buy now for 0.20 btc: 1Pipe... (With This pipe address offers a 25x wager)
You (the seller) will receive 5.00 btc for a win or 1 satoshi for a loss to the address you provided.
Tipping:
Sending 0.05 BTC for a helpful post might not seem worth it. Why not send it through their Pipe address, with a 1 in 20 chace of receiving 1.00 btc?
Raise Funds:
DiceOnCrack.com believes more funds will be raised for development work and charities. This is due to the entertainment value of the wager.
Fees: It will depend on the wager involved, but the house edge is anywhere from 0.10% - 2.0%. So for this to be a positive for the bitcoin economy, it must attract (at worst) an extra product sale / tip / funding once every 50 times.
All wagers will be posted on DiceOnCrack.com for verification. Please note that DoC is introducing the technology, the buyer and seller are still responsible for completing the transactions. At the time of this writing, DoC is still in beta, and has a wincap of 10btc. If you plan on offering higher-priced items, please be patient while we grow.
1Pipe addresses are now being offered upon request. With interest, there will be a webpage. Please post (or PM) what wager you would like from DiceOnCrack.com, and what address you wish to have the proceeds sent. We will respond with your personal 1Pipe address. We are listening for feedback and suggestions.
Good luck!
