Auto Deduct System | Bitcointalksearch.org

Silberman

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Quote from: Sanitough on June 22, 2021, 04:12:05 PM

Quote from: Silberman on June 22, 2021, 04:03:13 PM

Quote from: cabalism13 on June 19, 2021, 03:27:59 PM

What do you think of an AutoDeduct System of a Gambling Platform? Says you just connect your wallet like for example on a Dice Game, then it will just roll itself everytime it sees some funds on your wallet whatever coins it was until you are left with Zero ( Funds withdrawn or Funds gets Zero?)

I just have think of this as LOTTO ( site : lotto.finance) is implementing this, and one way to get out of that is to either wrapped the tokens or bridge it on another chain, do you think its reasonable not to have a stop button to exclude your address once you don't want it anymore?

I am not sure I understand this, you mean that instead of sending coins to the casino wallet you could just connect an address that belongs to you and gamble with it directly? If this is the case this could save on fees which is good, however while I know there are people that prefer their gambling to be automated I have never understand this as I gamble for fun and the whole point to me is to get some entertainment, so I hope you could turn off that functionally as I do not want to have some money in that address and then a bot begins to bet in my place and I lose it all before I even realize it.

You can never save fees on this since your wallet is outside of the platform, it's just auto-connected but in reality, there's still a transaction happening like sending coins to a gambling site and withdrawing money to your wallet, every transaction will cost you a fee.

Thanks for the explanation in that case I do not see any reason to use this, there are times in which I do not feel like gambling too much, whether because I am too busy or simply I do not want to do it and there are other cases in which I feel in the mood and I can gamble a little bit more, in both of those cases an automated system is simply not the best option and it is better to decide by ourselves when we want to make the transaction, because as we know there are times in which this can be very expensive due to the high congestion on the mempool and it is better to select the time to do the transaction manually.

paxmao

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Quote from: cabalism13 on June 19, 2021, 03:27:59 PM

What do you think of an AutoDeduct System of a Gambling Platform? Says you just connect your wallet like for example on a Dice Game, then it will just roll itself everytime it sees some funds on your wallet whatever coins it was until you are left with Zero ( Funds withdrawn or Funds gets Zero?)

As far as something workable, it is workable. Easy to implement provided the algo has full access to the wallet, passwords or a local wallet under the casino´s control. However, I am not so sure of how fun would this be and a lot about the gaming is having a pleasant user experience, not just playing a game of chances. If you think about it, successful games need to have some way of engaging the player and autoplaying sound like exactly the opposite if you know what I mean. Worth a try anyway,

Sanitough

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Quote from: Silberman on June 22, 2021, 04:03:13 PM

Quote from: cabalism13 on June 19, 2021, 03:27:59 PM

What do you think of an AutoDeduct System of a Gambling Platform? Says you just connect your wallet like for example on a Dice Game, then it will just roll itself everytime it sees some funds on your wallet whatever coins it was until you are left with Zero ( Funds withdrawn or Funds gets Zero?)

I just have think of this as LOTTO ( site : lotto.finance) is implementing this, and one way to get out of that is to either wrapped the tokens or bridge it on another chain, do you think its reasonable not to have a stop button to exclude your address once you don't want it anymore?

I am not sure I understand this, you mean that instead of sending coins to the casino wallet you could just connect an address that belongs to you and gamble with it directly? If this is the case this could save on fees which is good, however while I know there are people that prefer their gambling to be automated I have never understand this as I gamble for fun and the whole point to me is to get some entertainment, so I hope you could turn off that functionally as I do not want to have some money in that address and then a bot begins to bet in my place and I lose it all before I even realize it.

You can never save fees on this since your wallet is outside of the platform, it's just auto-connected but in reality, there's still a transaction happening like sending coins to a gambling site and withdrawing money to your wallet, every transaction will cost you a fee.

Silberman

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Quote from: cabalism13 on June 19, 2021, 03:27:59 PM

What do you think of an AutoDeduct System of a Gambling Platform? Says you just connect your wallet like for example on a Dice Game, then it will just roll itself everytime it sees some funds on your wallet whatever coins it was until you are left with Zero ( Funds withdrawn or Funds gets Zero?)

I just have think of this as LOTTO ( site : lotto.finance) is implementing this, and one way to get out of that is to either wrapped the tokens or bridge it on another chain, do you think its reasonable not to have a stop button to exclude your address once you don't want it anymore?

I am not sure I understand this, you mean that instead of sending coins to the casino wallet you could just connect an address that belongs to you and gamble with it directly? If this is the case this could save on fees which is good, however while I know there are people that prefer their gambling to be automated I have never understand this as I gamble for fun and the whole point to me is to get some entertainment, so I hope you could turn off that functionally as I do not want to have some money in that address and then a bot begins to bet in my place and I lose it all before I even realize it.

abel1337

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Quote from: cabalism13 on June 19, 2021, 03:27:59 PM

What do you think of an AutoDeduct System of a Gambling Platform? Says you just connect your wallet like for example on a Dice Game, then it will just roll itself everytime it sees some funds on your wallet whatever coins it was until you are left with Zero ( Funds withdrawn or Funds gets Zero?)

I just have think of this as LOTTO ( site : lotto.finance) is implementing this, and one way to get out of that is to either wrapped the tokens or bridge it on another chain, do you think its reasonable not to have a stop button to exclude your address once you don't want it anymore?

I have no experience yet on this Auto Deduct System but from what I understand from your description, It is like a bot that rolls itself until you dried your wallet up. I think If it is on a dice game, Casino will basically earn everything from you because you can dry your funds out so fast because it's a fast-paced game. A lottery game is good for this because it's not a fast-paced game. Also, there's a security risk that we can see here, We can't just allow any application to take over our wallets but I'm sure if anyone who implemented this type of system would be smart to let gamblers create an alternate wallet address to put their funds on.

michellee

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Quote from: virasisog on June 22, 2021, 03:44:02 AM

This will be convenient for gamblers, but a big concern for wallet security. This might also cause bigger problem for gambling addicts since there will be no need to transfer funds and they will have unlimited access to their funds. Each idea has their ups and downs.

It will be hard to take care of their money because the system can run automatically and roll the button as long as the money is still there. If the gambler is concerned with their money, they should not use this system because it can empty your money without control. If they do not want to watch the roll, they can leave it and come back later. But they will never know if their money is ending. So be careful when you want to use that.

zanezane

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I think this kind of system destroys the idea of you personally spending your money because you basically lets the system play and spend the money on their own and it also makes the connection to gambling from a person much more severed since you can only do it in an online gambling.

virasisog

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This will be convenient for gamblers, but a big concern for wallet security. This might also cause bigger problem for gambling addicts since there will be no need to transfer funds and they will have unlimited access to their funds. Each idea has their ups and downs.

mv1986

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Quote from: AicecreaME on June 21, 2021, 07:54:35 AM

Quote from: cabalism13 on June 19, 2021, 03:27:59 PM

What do you think of an AutoDeduct System of a Gambling Platform? Says you just connect your wallet like for example on a Dice Game, then it will just roll itself everytime it sees some funds on your wallet whatever coins it was until you are left with Zero ( Funds withdrawn or Funds gets Zero?)

I just have think of this as LOTTO ( site : lotto.finance) is implementing this, and one way to get out of that is to either wrapped the tokens or bridge it on another chain, do you think its reasonable not to have a stop button to exclude your address once you don't want it anymore?

I think this feature doesn't make sense.

Imagine you forget you turned on this feature (if they have enable and disable option) and you just saving money on the wallet connected on the gambling site, then one day you're excited to see how much did you save on your wallet but you surprised yourself instead because you don't have any money on your wallet because of that kind of feature. It's like creating your own ghost and getting scared because of it.

It's still much better to manually make your own bets to feel the thrill whenever you play gambling, in my opinion.

It is also a feature that wouldn't get me excited to play either. Isn't the fun about gambling that you as a player are somehow involved? Even if it is only clicking the button "roll the dice"? I mean if there is nothing you have to do except for watching, what's the whole point of it? I am 100% sure I won't get to the point where I would ever consider activating such a function, lean back and just watch how funds are drained from my wallet without me interacting with the game in the slightest! Cheesy

imstillthebest

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Quote from: kotajikikox on June 21, 2021, 02:39:32 AM

Quote from: imstillthebest on June 21, 2021, 01:54:15 AM

[...]

yes these is a cool feature (Though this is from Lotto site?) hope those major gambling site will also have this one so we can enjoy more playing after playing lol.

like op said a lotto site is implementing it but if this became sucesful , major gambling sites will also implement the same because they are afraid that their costumers will transfer to the other that have this new feature .
for now you can use the autobet settings because it lets you play continously if you still have a balance in your account .

owengtam09

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Quote from: cabalism13 on June 19, 2021, 03:27:59 PM

What do you think of an AutoDeduct System of a Gambling Platform? Says you just connect your wallet like for example on a Dice Game, then it will just roll itself everytime it sees some funds on your wallet whatever coins it was until you are left with Zero ( Funds withdrawn or Funds gets Zero?)

I just have think of this as LOTTO ( site : lotto.finance) is implementing this, and one way to get out of that is to either wrapped the tokens or bridge it on another chain, do you think it's reasonable not to have a stop button to exclude your address once you don't want it anymore?

I don't think that it is fine without the permission of the owner of the wallet. It is our right if we want to auto deduct our fund and plays it or we want to play it manually. It is now implementing, and others are fine with it, maybe they only have the amount that they can afford to lose with that wallet so even if it gets zero then it's fine, but if it gets profit then that's only a bonus for them.

Kong Hey Pakboy

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Quote from: Chato1977 on June 21, 2021, 08:44:16 PM

Absolutely , The longer we play is the higher chances of losing that's why disciplined gamblers only Allot specific duration of time for them to stay in betting.
so what more this Automatic deduction when we are playing?
no this is not good for my own interpretation .

Maybe you can use it to your advantage, I mean can see the convenience that this can do and if you can just put a certain amount of funds in the account and then start the auto deduction then probably you will be able to play dice while not being too hands on.

btc78

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Quote from: cabalism13 on June 19, 2021, 03:27:59 PM

What do you think of an AutoDeduct System of a Gambling Platform? Says you just connect your wallet like for example on a Dice Game, then it will just roll itself everytime it sees some funds on your wallet whatever coins it was until you are left with Zero ( Funds withdrawn or Funds gets Zero?)

This is some kind of addiction mate and i don't wanna deal with this , still believe that gambling in any form must be with our consent and by this way we are totally out of control and we allow the system do it for us in which fall to the idea of us being addicted completely and in harder way to recover.

Quote

I just have think of this as LOTTO ( site : lotto.finance) is implementing this, and one way to get out of that is to either wrapped the tokens or bridge it on another chain, do you think its reasonable not to have a stop button to exclude your address once you don't want it anymore?

Well in lotto? i think this will be cool because we knew how hard to win and this will only rely on luck so at least once in a blue moon let the system take charge and may give you the winning that only once in a trillion chance to win.

Chato1977

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Quote from: madnessteat on June 21, 2021, 04:57:37 AM

Such a system only works in favor of the casino and the player will go bankrupt very quickly, as everyone has long known that when playing with negative expectations in the long term player will lose absolutely everything.

I would not recommend connecting your wallet to such a system.

Absolutely , The longer we play is the higher chances of losing that's why disciplined gamblers only Allot specific duration of time for them to stay in betting.
so what more this Automatic deduction when we are playing?
no this is not good for my own interpretation .

xSkylarx

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Quote from: chaser15 on June 21, 2021, 07:21:04 PM

There should be a stopped button or something like we don't want to include the address on the automatic lottery draw every week.

This is the first time I saw that kind of system. How much is the ticket? Those who have a balance less than the price of the ticket are safe with the deductions.

Each lotto token costs $0.029 right now and needs atleast 25 tokens based on the previous draws so qualifying for the lottery is not that expensive. If converted to fiat, the requirement for each draw is only $0.72 which have a chance to win lotto tokens equivalent to 200$. With the 4000 current token holders, they get more from their deduction than their prize gives. They did an airdrop way back January and I think mostly airdrop holders are only the participants of their lotteries. Gamblers won't like this type of system as it doesn't give the thrill or satisfaction of what a real gambling platform provides.

crwth

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Wouldn't you just lose everything on that wallet? It depends on the game that you are playing. Dice games are a bad idea. If it's in a lottery, it's good because every time you deposit something, you automatically buy a ticket. You would really have to be freaking lucky to win in that game though but if you are just willing to lose money on it, why not right?

Lorence.xD

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That's a dangerous feature because if you think about it, people are always going to neglect that kind of feature and then the next day, they have zero funds left. Also, some people might lose more than just money especially the careless high rollers.

chaser15

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Quote from: cabalism13 on June 19, 2021, 03:27:59 PM

I just have think of this as LOTTO ( site : lotto.finance) is implementing this, and one way to get out of that is to either wrapped the tokens or bridge it on another chain, do you think its reasonable not to have a stop button to exclude your address once you don't want it anymore?

There should be a stopped button or something like we don't want to include the address on the automatic lottery draw every week.

This is the first time I saw that kind of system. How much is the ticket? Those who have a balance less than the price of the ticket are safe with the deductions.

goinmerry

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Quote from: boyptc on June 21, 2021, 06:16:26 PM

Yes, just as metamask there's a confirmation notification first to pop out.

On the site shared by OP, once there are enough funds on the wallet, it will be automatically deducted as a ticket fee on the lottery.

The lottery is once a week so I think it's a good feature. I'm sure people who will use the site will be aware of that.

But if the system will be applied to dice, it's a bad idea. Better just stay the usual betting on dice and I doubt a casino will consider implementing it.

Saint-loup

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Quote from: cabalism13 on June 19, 2021, 03:27:59 PM

What do you think of an AutoDeduct System of a Gambling Platform? Says you just connect your wallet like for example on a Dice Game, then it will just roll itself everytime it sees some funds on your wallet whatever coins it was until you are left with Zero ( Funds withdrawn or Funds gets Zero?)

I just have think of this as LOTTO ( site : lotto.finance) is implementing this, and one way to get out of that is to either wrapped the tokens or bridge it on another chain, do you think its reasonable not to have a stop button to exclude your address once you don't want it anymore?

Quote from: cabalism13 on June 19, 2021, 11:33:59 PM

Quote from: ReiMomo on June 19, 2021, 05:16:49 PM

Quote from: cabalism13 on June 19, 2021, 03:27:59 PM

...

I just now heard this auto deduct system, if this really happens by a most gambling site, I will suggest to avoid them earlier.

yeah definitely a bad Idea, as they might get an idea to configure this to deduct other coins from the wallet that has been connected.
Though I didn't think of it at firzt but there are seems to be some flaws here, though the idea itslef is considerably good.

What do you mean exactly by "connecting a wallet"? How could you connect a wallet? If you mean giving your private key to a platform I would never do that, even with a reputed platform I think. Because when someone knows your private key he can do whatever he wants with your wallet, he can use it to spend dirty money and sign messages from it. Moreover if someone sends funds to the wallet in the future thinking it's still your own wallet you will lose the funds.

Topic: Auto Deduct System (Read 559 times)