Auto Deduct System - page 2. | Bitcointalksearch.org

boyptc

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Quote from: dunfida on June 20, 2021, 09:58:34 AM

Quote from: boyptc on June 19, 2021, 05:03:07 PM

I think it's a good idea just like those projects that usually being connected to Metamask. A casino can connect Metamask or any type of wallet that it supports.

I can imagine how the process will go but I don't know if the casinos will consider it.

I think if there's a third party apps involved in making a transaction with metamask there is a confirmation first that you need to confirm first before the transaction takes effect. I don't know if you have tried it but this is what I noticed so it should have a confirmation to the user first before doing any transaction which means your funds won't automatically be deducted if you confirm the transaction first. I think this is the flaw that the auto deduct system should implement and fix if it's already existing.

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

I've tried it but we will never know if the casinos is approved to them. But as we know, innovation is unstoppable and upgrades are needed. I think we'll see something the same in the future.

just_Alice

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I think this kind of system is more desirable for the casino owners rather than for players. The only pro here is that you don't have to spend time making bets, which is very suitable for the casino, because you spend all of your money and pretty fast. The cons?
1. No joy, because you're not quite participating in the process;
2. You can forget about that system and the money you need will be automatically spent on gambling (which can be fixed with a stop button, so I support the idea of having it added to the system);
3. In the end you lose. That's right, the whole point of gambling in games like slots, dice - is fun, there's no point in trying to win against the house edge in the long run. So, basically, with no participation, adjustment, and no stopping, it'll be like slowly giving away all your money.

harizen

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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?)

That's not a good idea. Or if implemented by a gambling site, it should have a feature of turning it ON and setting it to OFF by default.

In that way, unauthorized action won't be triggered as that would result in an unexpected loss.

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?

Checking the site, I see that it's more appropriate and good for a lottery. But again, should have an ON or OFF which I think doesn't have and the only way to get out is the one you have mentioned.

For dice games or any casino games, that feature is not appropriate.

stadus

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That's not fun because of the reality that the longer you gambling, the more chances you lose.

Speaking about Dice, you know there's a house edge even if some casinos only have 1/2 of 1% house edge but you'll still lose in the long run.

What you are doing is just you are just feeding the casino to be profitable, not only to gamble while you have money, maybe it's also nice if there's a feature that you'll stop when the profit is already achieved and it will automatically send your wining in your wallet.

Ziskinberg

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I'd rather go with the current system where you create an account on a site and you send your deposit to gamble. That really looks like a decentralized gambling platform but IMO it's quite risky as you need to link your wallet unless you'll create another wallet just for gambling purposes.

Also, we should talk about the gas, as that means there's a transaction coming in or out since our wallet is not internally linked to the gambling site.

AicecreaME

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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 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.

madnessteat

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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.

kotajikikox

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Quote from: Johnyz on June 19, 2021, 03:39:04 PM

This is fine as long as the site is legit and as long as those funds are really meant for gambling, the fees are just my concern here, auto deduct must be more specific since having transactions every time balance occur can cost you a lot. Personally, i don’t want to link my wallet on any gambling site the risk is high for this.

Yups Fee is the most concern here but about the wallet connection to gambling site? if you are using exchange wallet like Binance then you'll have not to worry at all
because they are fine using gambling platform from transferring our funds.
(Well lucky for Filipino not having issue from Binance)

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

i love the idea of importing the wallet and playing imediately ,no need to hit that deposit button but the function of a gambling site should remain the same like the functions we have now .
its dangerous if there is no stop function for an easy win game such as dice because in dice games we can bet on lower odds but it would be alright with lotto games because its harder to win on them .
we dont need to visit the site and bet after a loss but the site will bet for us automaticaly .

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.

imstillthebest

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i love the idea of importing the wallet and playing imediately ,no need to hit that deposit button but the function of a gambling site should remain the same like the functions we have now .
its dangerous if there is no stop function for an easy win game such as dice because in dice games we can bet on lower odds but it would be alright with lotto games because its harder to win on them .
we dont need to visit the site and bet after a loss but the site will bet for us automaticaly .

Fundamentals Of

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Quote from: justdimin on June 20, 2021, 01:41:28 PM

Quote from: Fundamentals Of on June 20, 2021, 09:50:46 AM

I think that if there is such a kind of site as this, I believe the feature of auto-betting whatever is the balance in your wallet is under the control of the account owner. The gambler must have the option to auto-bet or not the money in ones wallet.

There must be some misunderstanding because from what I understand the wallet will make it easy for the players to deposit directly without having to make transactions manually but the wallet itself gambling sounds funny and unrealistic.

I'm also confused with the exact point of OP but if what he meant is that suppose there is a mechanism for a gambler to attach his wallet to a gambling platform and that every time the wallet has funds in it, the gambling site would automatically place bets until the funds are drained or withdrawn, that is very unfair. Not only should there be a stop button, there should be an option as to whether the gambling site should auto-bet the funds or not.

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?)

bL4nkcode

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Quote from: Woodie on June 20, 2021, 02:49:54 PM

First the system encourages you to gamble till you drop..which is addiction, [...]

It can be prevented though by using a different wallet just for gambling purposes, and addiction begins from the the users not the system, it can be prevented if the user has self-discipline.

Quote from: Woodie on June 20, 2021, 02:49:54 PM

Besides what would happen if you connected your crypto stash by mistake to this system, it would mean blowing your account and you would curse at this and never wished you got to know it . But whatever this is suppose to do am not in support.

It just like sending funds to an address, you should double or even triple check the address before sending funds or else it will be lost forever. Now if the user is too careless and that what will happen. All activities in crypto associates big responsibility since it's their money after all.

Woodie

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I don't like the idea!

First the system encourages you to gamble till you drop..which is addiction, and you can't apply the winners know when to stop with this system.
Besides what would happen if you connected your crypto stash by mistake to this system, it would mean blowing your account and you would curse at this and never wished you got to know it . But whatever this is suppose to do am not in support.

Fortify

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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 guess it could work for a low intensity game like a lottery, which might be run once a week but I definitely wouldn't do it for any other game type like dice. Certain games are naturally weighted to give the house a small edge which over enough time would drain every satoshi from your wallet. I guess the advantage you're looking to get it is holding the funds in your personal possession rather than preloading an external wallet which might be vulnerable to getting hacked? However if the external site got hacked then it is very possible to auto-deplete functionality could be overridden and drain your wallet in just the same way. It does seem like something that might be useful to build into a new type of token or cryptocurrency as you say - scheduled payments.

justdimin

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Quote from: Zilon on June 20, 2021, 07:31:04 AM

This would likely mean any coin available on the wallet linked to the site would be used to roll the dice. U think it's a cool innovation. Hope there would be a separate wallet where my profits would be moved to if I get lucky enough to win any of the rolled dice since I might not be physically present at all time to monitor how the dice is been rolled and how much profit and loss I have accumulated

My guess would be that the wallet will transfer funds to the casino and then the player will make bets. For example, the wallet receives 100 dollars worth of altcoins, so the wallet would exchange at the best price itself and deposit to the casino in one of the accepted currencies. Then we can gamble with those funds and don't have to deposit manually. How come the wallet makes bets on its own, which multiplier, and what base bet amount, the wallet shouldn't be able to decide itself.

Quote from: Fundamentals Of on June 20, 2021, 09:50:46 AM

I think that if there is such a kind of site as this, I believe the feature of auto-betting whatever is the balance in your wallet is under the control of the account owner. The gambler must have the option to auto-bet or not the money in ones wallet.

There must be some misunderstanding because from what I understand the wallet will make it easy for the players to deposit directly without having to make transactions manually but the wallet itself gambling sounds funny and unrealistic.

RealMalatesta

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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?)

So it will gamble all the funds within the wallet and repeat until either the bank is empty or the wallet is empty? I mean the system is made such that it detects the wallet has balance and will gamble those funds. So in case it gambles funds and we win, then will it keep gambling again and again? I would consider such an auto-detect system very risky and might not use it.

Maybe it would work on a lottery site where winners are picked every day and the ticket price is fixed. Gamblers can fund the wallet and it will purchase tickets, which might make sense because only one lottery happens a day. With dice and other instant games, it would be rather risky and not worth it. But everyone has their own opinion so maybe some will use it with dice too.

qwertyup23

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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 kind of feature should be implemented with a condition on whether you should activate such feature or not, or else, this will become totally unfair for the gambler in handling his money.

Having an "auto deduct system" will definitely favour the online gambling platform as this will guarantee them money. This will also give them absolute power to meddle with the funds of a person by compelling the system to gamble their remaining funds.

If the idea behind this feature is for the purpose of convenience, then I do not think that anyone would risk losing their money for such a little convenience.

Yogee

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Quote from: mv1986 on June 20, 2021, 12:27:19 PM

...
Then I still don't get the point why that option or type of game exists at all? Why would I ever activate auto-deduct if I know that once I open the wallet in 2 days from now it is going to be empty or otherwise I should have rather been playing lotto.

It also doesn't make sense to me. I find it unnecessary to put "decentralization" to everything including this auto-deduct from all types of funds idea. It's convenient for people who loves things in automatic for sure but I don't think they will find it amusing once they found out they lost everything in their wallet.

mv1986

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Quote from: Yogee on June 20, 2021, 12:13:56 PM

Quote from: fiulpro on June 20, 2021, 10:17:58 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?

There is an auto-bet system in things like Crash on various platforms, but if I remember correctly it does not do you any good. I tried it twice and then never did it again. The probability of you winning in such games is not only random but it is also analytical. For me I would not appreciate such a thing. It will make you loose 100%.

I don't think the auto-bet system that you are talking about is the same with the auto-deduct system as described by cabalism13.
The auto-bet still allows you to choose the amount you want gamble and adjust some settings so could limit your losses unlike the auto-deduct where it completely devours your funds.

Then I still don't get the point why that option or type of game exists at all? Why would I ever activate auto-deduct if I know that once I open the wallet in 2 days from now it is going to be empty or otherwise I should have rather been playing lotto. Because in a 49 to 51% set up with the former being the win rate and the latter the loss rate, there is also no way to get lucky, open the wallet and be rich. In a best case scenario it may go up and down in my favor for a limited amount of time. I just don't get the essence of the feature.
If it was with a zero edge rate for the house, it'd be funny to switch it on maybe and see what happens.

Yogee

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Quote from: fiulpro on June 20, 2021, 10:17:58 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?

There is an auto-bet system in things like Crash on various platforms, but if I remember correctly it does not do you any good. I tried it twice and then never did it again. The probability of you winning in such games is not only random but it is also analytical. For me I would not appreciate such a thing. It will make you loose 100%.

I don't think the auto-bet system that you are talking about is the same with the auto-deduct system as described by cabalism13.
The auto-bet still allows you to choose the amount you want gamble and adjust some settings so could limit your losses unlike the auto-deduct where it completely devours your funds.

worle1bm

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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 don't know whether auto deduct will overcome the manual placement of bets from exchange or your wallets because if you opted it for some other fake casino then your wallet security maybe compromised and funds will be lost until you stop the bets.Imagine you roll a dice and you have $30-$40 and you loose all of them without your knowledge in betting.There are cons more than pros so that's why it is not beneficial for players to select this with your wallet.You never know this crypto market.

Topic: Auto Deduct System - page 2. (Read 559 times)