Topic: [ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread - page 223. (Read 1276789 times)

Yes, that is correct. We are, however, working on implementing support for betting on the concensus of multiple, independent oracles, too.

Is it correct that someone that wants to bet with counterparty needs to trust the price feed that is supported by one person and that the outcome of the bet is executed automatically based on the provided feed?

How that can decrease security, someone need to hack your 12 word password and also read from your mind 20 characters word? In case that can choose from settings to use one or both same time. Where even need google second auth system? If you have 12 word password and same password in your gmail and both need its out of google control and its really security?



Some many round game is also good, because peoples like win big moneys, or what you think? Bet 1 XCP and win 100 or 1000 or even more that make many take part when pot growing enough and finally there is big pot if game is long. I dont know is that possible to make, but like "real lotto" or like some keno where numbers coming from blockchain block solving time or someway, where is really small odds to win, but game can go really long if dont find winners.

Think situation where there first have only coins from small grou, then prize pool and coin value growing slowly, but we dont have yet winner in really long round. When pot size growing enough we can see news in bitcoin sites "bet with xcp and have possibility win xxxxx $ or btc"

If one game come enough long 6month-1 or 2 year, that can make winner really rich and same time there maybe have some marketing value, maybe just in right time when normal peoples start coming interesting about bitcoins and buy also couple XCP and add one or half to lotto and pot growing even further.

One way I see for trustless high speed betting is user makes his strategy to bet before the merkle root or whatever the seed is out from each block and use that as a seed to decide the result of series of bets. For example,

User should be able to say:

First bet is high, if lose, double wager and bet high, otherwise bet low. User can provide his custom seed to mix up with the merkel number for dice results

It would create similar effect to high speed betting on those centralized dice sites.

Does it still need to go live? Still getting the error.

yes, it's possible. The maximum speed of games will be always 1 block (don't know if it's like this in just-dice).


http://just-dice.blogspot.ca/2014/06/betting-and-depositing-disabled-on-jd.html

Is something like a decentralised just-dice possible via counterparty? --  would be amazing
I believe they closed due to some issues with canadian legislation, making it problematic to store customers funds in centralised wallets.

You right. For this to work we should find incentive for the first player..



I think the best solution for this, is to have a decentralised Bankroll integrated in Counterparty.
Each XCP holder could deposit some XCP in escrow in the Bankroll, and withdraw them when he wants, plus some interests generated by games.
In the future the house edge can be set by a PoS vote system.
With a Bankroll like this we can imagine a lot of games resolvable in one block.

Fix pushed. Thanks.

Then I see two practical problems:
Either
1. you'd need another person to place a counterwager (as with rock-scissor-paper) - and the first person would therefore need to wait for a match
or
2. if the wager adds to a pot but you're out if you don't win on the first block, there is no reason to be the first player as in the best case you'll only win back your wager

With the game I outlined you'll eventually only win back your own wager IF (in the worst case) no one else joins, but at least you'll only lose the tiny transaction fee. If more people join it becomes more and more exciting as the pot grows.

However, I fully support one-stage games too, for the same reason as you wrote. A practical implementation can be a third-party site which always offers bets, albeit with a slight edge. E.g. you can bet 1 XCP with a 0.95% chance of winning 100 XCP. The game could be so that you win if there's a pattern such as "777" in the Merkle root. Wrap this into a nice design, and you have the world's most transparent and trustless online casino.

Wow great! To use both a password and 12 words at the same time seems like decreased security in my eyes=

Thanks for the update. I was also getting that error.

There's also a little bug where sometimes the balance from a previous pair carries over to a new one when pressing the "Top Pairs" tabs. I felt pretty rich for about 1 second, and then realized it was displaying my XCP balance.

I like it. The disadvantage is the time for the game to be resolved. Generally people like fast game. Maybe the 1 XCP wager should be lost if the player didn't win in the next block, so he must to put again 1 XCP to have a chance to get the jackpot. Like a slot machine..

thanks for report. Just push a fix on github.

Idea to game in Counterwallet : Merkle Lotto

I don't know if this is technically possible to implement yet, but here's anyway a game I believe could be popular and fit Counterparty well.

To place a bet you pay 1 XCP and you need to specify two characters [0-9,a-f]. The XCP is put in escrow. If the next block's merkle root contains exactly one of each of your specified characters you win back all the escrowed XCPs (special case: more than one winner, they share the amount equally). The pool of escrowed XCPs contain those of everyone who participate in this game.

If no one wins at a particular block, the game continues to the next block, and so on until someone wins. The game is always open for new participants, and so the pool grows until someone wins, and the cycle starts over again.

The statistics: The merkle root is 64 characters long and exists of a set of 16 characters [0-9,a-f]. The probability of specified character appearing exactly once is : 64 * (1/16) * (15/16)^63 =~ 6.9%. The probability of both specified characters appearing exactly once is roughly 0.069^2 =~ 0.47%. If there are 10 players the probability of neither winning (i.e. game continues to next block) is (1-0.0047)^10 =~ 95.4%. If there are 20 players the prob drops to 91.0%.

The more players the larger the payout, and the more exciting it becomes.


 

i think xcp is really a good coin.. the DEV is awesome and the community is bigger and bigger.

Domain name for sale

counterpartywallet.com

Sale price: negotiated

Plz contact me if interested.

Anyone else getting this error when you try and look at asset trading. Been getting it for a couple hours now

"failoverAPI: Call failed (failed over across all servers). Method: get_market_details; Last error: undefined"

Update: Can look at a few markets but whenever I try and look at LTBCOIN/BTC (where I have a sell order), I get this error.

No real volume though

Why is crashing so hard the xcp value? on bter it went down like 30% in one day already.