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Topic: [ANN][CHA] Chancecoin, SuperNET core coin for betting in a decentralized casino - page 79. (Read 146141 times)

legendary
Activity: 1680
Merit: 1001
CEO Bitpanda.com
Two questions:

Is there a fix yet for the not resolving bets bug?

Also my 100 CHA sell offer is gone now. How long does an offer stay active per default?
legendary
Activity: 1680
Merit: 1001
CEO Bitpanda.com

Right now the risk for the "site bankroll" is 1/2 kelly kriterion. If we would change the house edge to 1% we could then keep the kelly criterion constant at 1/2 Kelly by setting the max profit to 0.5% site bankroll.

How do you propose do we ask the community? because i'd rather change this soooner than later.



Do you know that Just-dice.com is 1% house-edge and 1% max profit?  But some big whales winned a lot and make the house lose a lot.  It's a disaster for a dice site run with 1% house-edge and 1% max profit.

But as I re-think about it.  The difference is that the house of Chancecoin won't lose a bit when the player wins, because only the player's balance changes.

So, It is more safe for Chancecoin to run 1% house-edge than Just-dice.com.

Just-dice DID run on 1%/1%. now it is also 1%/0.5% , like i am proposing for this coin.

2%/1% is just too expensive to be competitive.
newbie
Activity: 50
Merit: 0
@devs, I hope I am not out of line, when I promote your coin a bit in different threads. I created a thread where I can bump the proof of burn period!

https://bitcointalk.org/index.php?topic=560401.new#new

That's good. The more people help us spread the word the better! Are there any forums out there similar to bitcointalk that you guys can post about chancecoin?
member
Activity: 113
Merit: 10
Chancecoin developer
So...at a technical level, how exactly will someone be able to obtain CHA by simply sending BTC to your burn address by simply "using Bitcoin wallet software"?  Is that really all that is required?  Or is the protocol actually more rigid (as it was with Counterparty), and do individuals casually sending BTC to your burn address risk losing their hard-earned BTC if they fail to meet that protocol's format requirements?  !

That's really all that is required. For interpreting burns, Chancecoin is less rigid in that it will credit CHA to the first input address as long as one of the output addresses is the burn address. So you can burn BTC into CHA using any wallet software without worrying about losing your hard-earned BTC.
newbie
Activity: 36
Merit: 0
So...at a technical level, how exactly will someone be able to obtain CHA by simply sending BTC to your burn address by simply "using Bitcoin wallet software"?  Is that really all that is required?  Or is the protocol actually more rigid (as it was with Counterparty), and do individuals casually sending BTC to your burn address risk losing their hard-earned BTC if they fail to meet that protocol's format requirements?  !
newbie
Activity: 37
Merit: 0

Right now the risk for the "site bankroll" is 1/2 kelly kriterion. If we would change the house edge to 1% we could then keep the kelly criterion constant at 1/2 Kelly by setting the max profit to 0.5% site bankroll.

How do you propose do we ask the community? because i'd rather change this soooner than later.



Do you know that Just-dice.com is 1% house-edge and 1% max profit?  But some big whales winned a lot and make the house lose a lot.  It's a disaster for a dice site run with 1% house-edge and 1% max profit.

But as I re-think about it.  The difference is that the house of Chancecoin won't lose a bit when the player wins, because only the player's balance changes.

So, It is more safe for Chancecoin to run 1% house-edge than Just-dice.com.
legendary
Activity: 1680
Merit: 1001
CEO Bitpanda.com
@devs, I hope I am not out of line, when I promote your coin a bit in different threads. I created a thread where I can bump the proof of burn period!

https://bitcointalk.org/index.php?topic=560401.new#new
legendary
Activity: 1680
Merit: 1001
CEO Bitpanda.com
Just restarted everything, and it looks the same still.

Logfile:


WARNING:root:Status: Reparsing all transactions.
WARNING:root:Status: NEW DATABASE
ERROR:tornado.application:Exception in callback None
Traceback (most recent call last):
  File "C:\Python33\lib\site-packages\tornado\ioloop.py", line 688, in start
KeyError: 1496
ERROR:tornado.application:Exception in callback None
Traceback (most recent call last):
  File "C:\Python33\lib\site-packages\tornado\ioloop.py", line 688, in start
KeyError: 1104



Also balance query: Your balance is 1377.16126543 CHA.

Yeah, it looks like a bug in the binary client. I'll look into it and get back to you. Hopefully we'll get the new bitcoinj version out soon. Thanks for testing stuff out!

No problem, I like to help where I can.

I have some problems understanding what exactely is happening when betting or placing orders. Could you help me figuring it out?

This is a bet, where I placed a 0.01 CHA bet: https://blockchain.info/tx/dd768e799afffc44a06eacb976c4a050bccc8c706232499d186bbad6a0657088?show_adv=true
There are 3 outputs:
  • 0.0001086 BTC  Escrow
  • 0.0001086 BTC  Escrow
  • 0.0001086 BTC  Back to my own account.

What exactely happens here? Do you even get the BTC back from the Escrow addresses? The strange thing is , that blockchain.info shows those funds in the escrow addresses still as balance of my main address.

What intrests me most is, if the transaction costs me 0.0001 BTC for fee, or 0.0001BTC fee and two times 0.0001086 for escrow?

Thank you ( I know that I can be annoying Cheesy )

PS: Are there plans to lower the house edge? 1 % would be better in my opinion, as most BTC-Dice casinos use 1 % houseedge.

The transaction does indeed cost you 0.0001 BTC for the fee plus 0.0001086*2 for the escrow. The escrow addresses are what the Chancecoin protocol reads from to interpret the bet. This is a bit of information that we'll have to document somewhere.

Since people are burning under the assumption that the house edge will be 2%, we can't change it easily, but it's something the community could discuss in the future.

Thank you for the information.

Right now the risk for the "site bankroll" is 1/2 kelly kriterion. If we would change the house edge to 1% we could then keep the kelly criterion constant at 1/2 Kelly by setting the max profit to 0.5% site bankroll.

How do you propose do we ask the community? because i'd rather change this soooner than later.



I'm glad we're thinking in Kelly terms.  Smiley

What does everyone think? I would consider any discussion we have here preliminary. If people want to change the house edge, we'll have to structure some kind of vote in the protocol.
Is this coin only focused on bet? any other usage or plan? The wallet looks complicated as it requires Bitcoin wallet installed.

Yes, this coin focuses on rolling the dice , and in investing in the house bankroll.

As of now, it is a bit complicated, but the devs are working on a bitcoinj implementation, this is a java based wallet, that runs without having to download the total blockchain. Way faster and easier.

Lateron, i hope we will have a webwallet like counterparty!

newbie
Activity: 29
Merit: 0
Just restarted everything, and it looks the same still.

Logfile:


WARNING:root:Status: Reparsing all transactions.
WARNING:root:Status: NEW DATABASE
ERROR:tornado.application:Exception in callback None
Traceback (most recent call last):
  File "C:\Python33\lib\site-packages\tornado\ioloop.py", line 688, in start
KeyError: 1496
ERROR:tornado.application:Exception in callback None
Traceback (most recent call last):
  File "C:\Python33\lib\site-packages\tornado\ioloop.py", line 688, in start
KeyError: 1104



Also balance query: Your balance is 1377.16126543 CHA.

Yeah, it looks like a bug in the binary client. I'll look into it and get back to you. Hopefully we'll get the new bitcoinj version out soon. Thanks for testing stuff out!

No problem, I like to help where I can.

I have some problems understanding what exactely is happening when betting or placing orders. Could you help me figuring it out?

This is a bet, where I placed a 0.01 CHA bet: https://blockchain.info/tx/dd768e799afffc44a06eacb976c4a050bccc8c706232499d186bbad6a0657088?show_adv=true
There are 3 outputs:
  • 0.0001086 BTC  Escrow
  • 0.0001086 BTC  Escrow
  • 0.0001086 BTC  Back to my own account.

What exactely happens here? Do you even get the BTC back from the Escrow addresses? The strange thing is , that blockchain.info shows those funds in the escrow addresses still as balance of my main address.

What intrests me most is, if the transaction costs me 0.0001 BTC for fee, or 0.0001BTC fee and two times 0.0001086 for escrow?

Thank you ( I know that I can be annoying Cheesy )

PS: Are there plans to lower the house edge? 1 % would be better in my opinion, as most BTC-Dice casinos use 1 % houseedge.

The transaction does indeed cost you 0.0001 BTC for the fee plus 0.0001086*2 for the escrow. The escrow addresses are what the Chancecoin protocol reads from to interpret the bet. This is a bit of information that we'll have to document somewhere.

Since people are burning under the assumption that the house edge will be 2%, we can't change it easily, but it's something the community could discuss in the future.

Thank you for the information.

Right now the risk for the "site bankroll" is 1/2 kelly kriterion. If we would change the house edge to 1% we could then keep the kelly criterion constant at 1/2 Kelly by setting the max profit to 0.5% site bankroll.

How do you propose do we ask the community? because i'd rather change this soooner than later.



I'm glad we're thinking in Kelly terms.  Smiley

What does everyone think? I would consider any discussion we have here preliminary. If people want to change the house edge, we'll have to structure some kind of vote in the protocol.
Is this coin only focused on bet? any other usage or plan? The wallet looks complicated as it requires Bitcoin wallet installed.
full member
Activity: 122
Merit: 100
when get balance "ERROR:tornado.access:500 GET / (127.0.0.1) 0.00ms"

help me
full member
Activity: 145
Merit: 100
So what's the total cost for every bet in total?  Somewhere between .0001 and .0003172?  Would be unfortunate if low-rollers are locked out of the action (since in addition to their bets they spread the word to other players.)

I think I'd also agree that I like 1% better than 2% to keep the rate competitive, should make up the difference in volume (and increased popularity itself would increase the coin's value as well.)
full member
Activity: 221
Merit: 100
I have burnt a few bitcoins from a blockchain.info address. How do I verify that CHA got credited to my address as expected?

I know some of you have been having trouble verifying balances with the wallet binaries. While we're working hard on the new bitcoinj version of the software, I published a list of balances: http://chancecoin.com/balances. I will update this list periodically. Even if you already know your balance, this is a pretty interesting list to look at!


Great. Thx for this!
legendary
Activity: 1680
Merit: 1001
CEO Bitpanda.com
Another question. There is no way to make betting cheaper? Is 0.0001086 set in stone? Is there a way to maybe only use one escrow address?

It is not clear to me how the system actually works, sorry if those questions are retarded!
member
Activity: 113
Merit: 10
Chancecoin developer
Just restarted everything, and it looks the same still.

Logfile:


WARNING:root:Status: Reparsing all transactions.
WARNING:root:Status: NEW DATABASE
ERROR:tornado.application:Exception in callback None
Traceback (most recent call last):
  File "C:\Python33\lib\site-packages\tornado\ioloop.py", line 688, in start
KeyError: 1496
ERROR:tornado.application:Exception in callback None
Traceback (most recent call last):
  File "C:\Python33\lib\site-packages\tornado\ioloop.py", line 688, in start
KeyError: 1104



Also balance query: Your balance is 1377.16126543 CHA.

Yeah, it looks like a bug in the binary client. I'll look into it and get back to you. Hopefully we'll get the new bitcoinj version out soon. Thanks for testing stuff out!

No problem, I like to help where I can.

I have some problems understanding what exactely is happening when betting or placing orders. Could you help me figuring it out?

This is a bet, where I placed a 0.01 CHA bet: https://blockchain.info/tx/dd768e799afffc44a06eacb976c4a050bccc8c706232499d186bbad6a0657088?show_adv=true
There are 3 outputs:
  • 0.0001086 BTC  Escrow
  • 0.0001086 BTC  Escrow
  • 0.0001086 BTC  Back to my own account.

What exactely happens here? Do you even get the BTC back from the Escrow addresses? The strange thing is , that blockchain.info shows those funds in the escrow addresses still as balance of my main address.

What intrests me most is, if the transaction costs me 0.0001 BTC for fee, or 0.0001BTC fee and two times 0.0001086 for escrow?

Thank you ( I know that I can be annoying Cheesy )

PS: Are there plans to lower the house edge? 1 % would be better in my opinion, as most BTC-Dice casinos use 1 % houseedge.

The transaction does indeed cost you 0.0001 BTC for the fee plus 0.0001086*2 for the escrow. The escrow addresses are what the Chancecoin protocol reads from to interpret the bet. This is a bit of information that we'll have to document somewhere.

Since people are burning under the assumption that the house edge will be 2%, we can't change it easily, but it's something the community could discuss in the future.

Thank you for the information.

Right now the risk for the "site bankroll" is 1/2 kelly kriterion. If we would change the house edge to 1% we could then keep the kelly criterion constant at 1/2 Kelly by setting the max profit to 0.5% site bankroll.

How do you propose do we ask the community? because i'd rather change this soooner than later.



I'm glad we're thinking in Kelly terms.  Smiley

What does everyone think? I would consider any discussion we have here preliminary. If people want to change the house edge, we'll have to structure some kind of vote in the protocol.
legendary
Activity: 1680
Merit: 1001
CEO Bitpanda.com
Just restarted everything, and it looks the same still.

Logfile:


WARNING:root:Status: Reparsing all transactions.
WARNING:root:Status: NEW DATABASE
ERROR:tornado.application:Exception in callback None
Traceback (most recent call last):
  File "C:\Python33\lib\site-packages\tornado\ioloop.py", line 688, in start
KeyError: 1496
ERROR:tornado.application:Exception in callback None
Traceback (most recent call last):
  File "C:\Python33\lib\site-packages\tornado\ioloop.py", line 688, in start
KeyError: 1104



Also balance query: Your balance is 1377.16126543 CHA.

Yeah, it looks like a bug in the binary client. I'll look into it and get back to you. Hopefully we'll get the new bitcoinj version out soon. Thanks for testing stuff out!

No problem, I like to help where I can.

I have some problems understanding what exactely is happening when betting or placing orders. Could you help me figuring it out?

This is a bet, where I placed a 0.01 CHA bet: https://blockchain.info/tx/dd768e799afffc44a06eacb976c4a050bccc8c706232499d186bbad6a0657088?show_adv=true
There are 3 outputs:
  • 0.0001086 BTC  Escrow
  • 0.0001086 BTC  Escrow
  • 0.0001086 BTC  Back to my own account.

What exactely happens here? Do you even get the BTC back from the Escrow addresses? The strange thing is , that blockchain.info shows those funds in the escrow addresses still as balance of my main address.

What intrests me most is, if the transaction costs me 0.0001 BTC for fee, or 0.0001BTC fee and two times 0.0001086 for escrow?

Thank you ( I know that I can be annoying Cheesy )

PS: Are there plans to lower the house edge? 1 % would be better in my opinion, as most BTC-Dice casinos use 1 % houseedge.

The transaction does indeed cost you 0.0001 BTC for the fee plus 0.0001086*2 for the escrow. The escrow addresses are what the Chancecoin protocol reads from to interpret the bet. This is a bit of information that we'll have to document somewhere.

Since people are burning under the assumption that the house edge will be 2%, we can't change it easily, but it's something the community could discuss in the future.

Thank you for the information.

Right now the risk for the "site bankroll" is 1/2 kelly kriterion. If we would change the house edge to 1% we could then keep the kelly criterion constant at 1/2 Kelly by setting the max profit to 0.5% site bankroll.

How do you propose do we ask the community? because i'd rather change this soooner than later.

member
Activity: 113
Merit: 10
Chancecoin developer
Just restarted everything, and it looks the same still.

Logfile:


WARNING:root:Status: Reparsing all transactions.
WARNING:root:Status: NEW DATABASE
ERROR:tornado.application:Exception in callback None
Traceback (most recent call last):
  File "C:\Python33\lib\site-packages\tornado\ioloop.py", line 688, in start
KeyError: 1496
ERROR:tornado.application:Exception in callback None
Traceback (most recent call last):
  File "C:\Python33\lib\site-packages\tornado\ioloop.py", line 688, in start
KeyError: 1104



Also balance query: Your balance is 1377.16126543 CHA.

Yeah, it looks like a bug in the binary client. I'll look into it and get back to you. Hopefully we'll get the new bitcoinj version out soon. Thanks for testing stuff out!

No problem, I like to help where I can.

I have some problems understanding what exactely is happening when betting or placing orders. Could you help me figuring it out?

This is a bet, where I placed a 0.01 CHA bet: https://blockchain.info/tx/dd768e799afffc44a06eacb976c4a050bccc8c706232499d186bbad6a0657088?show_adv=true
There are 3 outputs:
  • 0.0001086 BTC  Escrow
  • 0.0001086 BTC  Escrow
  • 0.0001086 BTC  Back to my own account.

What exactely happens here? Do you even get the BTC back from the Escrow addresses? The strange thing is , that blockchain.info shows those funds in the escrow addresses still as balance of my main address.

What intrests me most is, if the transaction costs me 0.0001 BTC for fee, or 0.0001BTC fee and two times 0.0001086 for escrow?

Thank you ( I know that I can be annoying Cheesy )

PS: Are there plans to lower the house edge? 1 % would be better in my opinion, as most BTC-Dice casinos use 1 % houseedge.

The transaction does indeed cost you 0.0001 BTC for the fee plus 0.0001086*2 for the escrow. The escrow addresses are what the Chancecoin protocol reads from to interpret the bet. This is a bit of information that we'll have to document somewhere.

Since people are burning under the assumption that the house edge will be 2%, we can't change it easily, but it's something the community could discuss in the future.
legendary
Activity: 1680
Merit: 1001
CEO Bitpanda.com
Just restarted everything, and it looks the same still.

Logfile:


WARNING:root:Status: Reparsing all transactions.
WARNING:root:Status: NEW DATABASE
ERROR:tornado.application:Exception in callback None
Traceback (most recent call last):
  File "C:\Python33\lib\site-packages\tornado\ioloop.py", line 688, in start
KeyError: 1496
ERROR:tornado.application:Exception in callback None
Traceback (most recent call last):
  File "C:\Python33\lib\site-packages\tornado\ioloop.py", line 688, in start
KeyError: 1104



Also balance query: Your balance is 1377.16126543 CHA.

Yeah, it looks like a bug in the binary client. I'll look into it and get back to you. Hopefully we'll get the new bitcoinj version out soon. Thanks for testing stuff out!

No problem, I like to help where I can.

I have some problems understanding what exactely is happening when betting or placing orders. Could you help me figuring it out?

This is a bet, where I placed a 0.01 CHA bet: https://blockchain.info/tx/dd768e799afffc44a06eacb976c4a050bccc8c706232499d186bbad6a0657088?show_adv=true
There are 3 outputs:
  • 0.0001086 BTC  Escrow
  • 0.0001086 BTC  Escrow
  • 0.0001086 BTC  Back to my own account.

What exactely happens here? Do you even get the BTC back from the Escrow addresses? The strange thing is , that blockchain.info shows those funds in the escrow addresses still as balance of my main address.

What intrests me most is, if the transaction costs me 0.0001 BTC for fee, or 0.0001BTC fee and two times 0.0001086 for escrow?

Thank you ( I know that I can be annoying Cheesy )

PS: Are there plans to lower the house edge? 1 % would be better in my opinion, as most BTC-Dice casinos use 1 % houseedge.
member
Activity: 113
Merit: 10
Chancecoin developer
Just restarted everything, and it looks the same still.

Logfile:


WARNING:root:Status: Reparsing all transactions.
WARNING:root:Status: NEW DATABASE
ERROR:tornado.application:Exception in callback None
Traceback (most recent call last):
  File "C:\Python33\lib\site-packages\tornado\ioloop.py", line 688, in start
KeyError: 1496
ERROR:tornado.application:Exception in callback None
Traceback (most recent call last):
  File "C:\Python33\lib\site-packages\tornado\ioloop.py", line 688, in start
KeyError: 1104



Also balance query: Your balance is 1377.16126543 CHA.

Yeah, it looks like a bug in the binary client. I'll look into it and get back to you. Hopefully we'll get the new bitcoinj version out soon. Thanks for testing stuff out!
legendary
Activity: 1680
Merit: 1001
CEO Bitpanda.com
Just restarted everything, and it looks the same still.

Logfile:


WARNING:root:Status: Reparsing all transactions.
WARNING:root:Status: NEW DATABASE
ERROR:tornado.application:Exception in callback None
Traceback (most recent call last):
  File "C:\Python33\lib\site-packages\tornado\ioloop.py", line 688, in start
KeyError: 1496
ERROR:tornado.application:Exception in callback None
Traceback (most recent call last):
  File "C:\Python33\lib\site-packages\tornado\ioloop.py", line 688, in start
KeyError: 1104



Also balance query: Your balance is 1377.16126543 CHA.
legendary
Activity: 1680
Merit: 1001
CEO Bitpanda.com
Also, can we implement 2 more colloms:

1:  Result:  "Win" "Lose" or "Pending"
2:  Dicenumber "XX" (So we know if it was a loss by a few digits, or by a big margin Wink )

I see your bets resolving properly (see http://chancecoin.com/casino). The one where you bet 1.0 CHA with chance 98% and payout multiplier 1.0, you actually won, you just didn't profit from it because the payout multiplier was 1.0. This is an example of a bet where you stand to lose everything or gain nothing; you're just sacrificing house edge with no potential gain for yourself.

As for your suggestions, they'll definitely be in the new wallet.

There must be something wrong.

I had 1400.16126543 CHA in my wallet.

Then i made 6 bets. 10 10 1 1 1 1 = 24 CHA bet.

Now i have 1376.16126543

So i bet 24 and lost 24 CHA. How is that possible?

Somebody won, so how to know who won?

Well, the way CHA works is, if you win, additional CHA get created, and all other coins are now less rare and a bit lower in value.
If you lose, the CHA get destroyed, this results in all other coins being MORE rare and a bit higher in value.
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