Bets of Bitcoin - Bitcoin betting on real world events - page 17.

Sukrim

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Quote from: TheBitMan on May 27, 2012, 08:13:58 PM

Lets say I choose Obama to win and I bet 1.00 BTC how much would I get back if he wins?
http://betsofbitco.in/item?id=5

If you are the last one to bet on this right now (weight 3856.60) you'd get 1.35157500 BTC (of which 1 BTC is your amount bet you're getting back). I wrote a spreadsheet for private use that polls this data for my bets, so it should be quite correct...

Of course this can change still quite a bit over time, depending on other bets on each side.

rjk

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1ngldh

Quote from: coinjedi on May 27, 2012, 10:38:43 PM

Quote from: Stephen Gornick on May 27, 2012, 08:20:36 PM

Isn't my account easily vulnerable to a man-in-the-middle attack without SSL (HTTPS) being required?

I know that the withdrawal will require a password and that page is only SSL, but wouldn't an attacker that sniffs and sees my session id able to then able to submit wagers using my balance? That would seem to be an odd attack, but it could be used to juice up the payout for the attacker by getting a higher level of wagers on the losing side.

I've found that enforcing https for everything reduces the performance as things are not always cached properly. Requiring password for betting is also a nuisance. Either option would disrupt the user experience. Also as you have mentioned, unless the men-in-the-middle does not want to annoy you, he does not have an incentive for placing random bets. But if there is a demand from many users we can implement one the solutions.

I think a good compromise would be to have a user-selectable option to enable or disable always-on SSL connections. That way, even if we ignore the session hijacking idea, it would also prevent simple sniffing and seeing whether and how a person is betting.

coinjedi

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Quote from: Stephen Gornick on May 27, 2012, 08:20:36 PM

Isn't my account easily vulnerable to a man-in-the-middle attack without SSL (HTTPS) being required?

I know that the withdrawal will require a password and that page is only SSL, but wouldn't an attacker that sniffs and sees my session id able to then able to submit wagers using my balance? That would seem to be an odd attack, but it could be used to juice up the payout for the attacker by getting a higher level of wagers on the losing side.

I've found that enforcing https for everything reduces the performance as things are not always cached properly. Requiring password for betting is also a nuisance. Either option would disrupt the user experience. Also as you have mentioned, unless the men-in-the-middle does not want to annoy you, he does not have an incentive for placing random bets. But if there is a demand from many users we can implement one the solutions.

coinjedi

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Quote from: TheBitMan on May 27, 2012, 08:13:58 PM

Lets say I choose Obama to win and I bet 1.00 BTC how much would I get back if he wins?
http://betsofbitco.in/item?id=5

As in any other variation parimutuel/pooled betting system there is no way to know the exact returns until the bets are closed. Have you seen the example distribution on our help page?

Stephen Gornick

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Quote from: coinjedi on April 24, 2012, 06:08:25 PM

Quote from: Stephen Gornick on April 24, 2012, 01:33:24 AM

Heh. Ok, I must have been thinking "more than 24 hours" and typed "never". Either way, isn't that too loose? This is a wallet where I have money, right?

I really like to be able to stay logged in at various sites, so I feel like that is a good default behaviour. Wallet operations (withdrawals and address changes) require your password anyway. If you are at an untrusted computer you can always logout manually. Also there can be extensions for your browser of your choice that manages site authentications according to your taste (For example HTTP Logout for Firefox).

Isn't my account easily vulnerable to a man-in-the-middle attack without SSL (HTTPS) being required?

I know that the withdrawal will require a password and that page is only SSL, but wouldn't an attacker that sniffs and sees my session id be able to then submit wagers using my balance? That would seem to be an odd attack, but it could be used to juice up the payout for the attacker by getting a higher level of wagers on the losing side.

TheBitMan

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Lets say I choose Obama to win and I bet 1.00 BTC how much would I get back if he wins?
http://betsofbitco.in/item?id=5

Sukrim

legendary

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http://betsofbitco.in/item?id=333 is basically decided, as difficulty will be the same as now on block 182000 - False wins. One of the few bets so far that I've seen where the majority did not predict correctly.

Are there some stats on that by the way (how often there was an exact tie and how often the majority was right/wrong)?

coinjedi

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Quote from: Stephen Gornick on May 22, 2012, 01:59:00 AM

Shouldn't this thread be moved into the Gambling forum board?

Incidentally, from:
- https://bitcointalksearch.org/topic/free-money-on-bets-of-bitcoin-82846

Decided early:
- http://betsofbitco.in/item?id=366

"Chrome is the most popular browser in the world, says StatCounter"
- http://www.theverge.com/2012/5/21/3033566/chrome-most-popular-browser-weekly-may-2012

Are prediction betting/prediction markets gambling anymore than the stock market investing? I think it is controversial. But in any case I've posted this on both forums and the gambling forum thread didn't take off, I think the gambling community decided that it is not in their interest.

I'll keep this bet open because the bet is on the total May ratings which is not available yet. The news is based on the third week of May data, not the whole month.

coinjedi

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Quote from: malevolent on May 21, 2012, 01:59:54 AM

Care to reveal your identity then? Or in any way prove that people can trust you with their money? I think saying 'the site is running already for several months with success' doesn't prove anything if you look at Moonco.in, MyBitcoin, Bicoin7 and others.

We wish to remain anonymous at this time.

Stephen Gornick

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Shouldn't this thread be moved into the Gambling forum board?

Incidentally, from:
- https://bitcointalksearch.org/topic/free-money-on-bets-of-bitcoin-82846

Decided early:
- http://betsofbitco.in/item?id=366

"Chrome is the most popular browser in the world, says StatCounter"
- http://www.theverge.com/2012/5/21/3033566/chrome-most-popular-browser-weekly-may-2012

malevolent

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Quote from: coinjedi on May 20, 2012, 06:09:05 PM

Care to reveal your identity then? Or in any way prove that people can trust you with their money? I think saying 'the site is running already for several months with success' doesn't prove anything if you look at Moonco.in, MyBitcoin, Bicoin7 and others.

coinjedi

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Quote from: malevolent on May 20, 2012, 07:58:49 AM

WHO is behind BetsofBitco.in?

The layout of the site is very similar to moonco.in

indian domain
false whois info
private whois
anonymous hosting on sechelles

I have a feeling the same person is behind both websites.

Well, obviously nothing we'll say will convince you, but for the record we have no relation to moonco.in.
We have started before they disappeared and .in domains are popular in bitcoin community for obvious reasons. I think it is started by betco.in.

malevolent

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Activity: 3472

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WHO is behind BetsofBitco.in?

The layout of the site is very similar to moonco.in

indian domain
false whois info
private whois
anonymous hosting on sechelles

I have a feeling the same person is behind both websites.

Stephen Gornick

legendary

Activity: 2506

Merit: 1010

I'd be curious to see how accurate these are, as far as the majority of the wagers ended up having been successful with the prediction. (and some strength metric ... i.e., by how much).

Anyway, one more to payout early:

"Chen Guangcheng will leave China before the end of June 2012."
- http://betsofbitco.in/item?id=379

- http://www.usatoday.com/news/world/story/2012-05-19/chinese-activist-chen-leave-bejing-us/55071846/1

coinjedi

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Quote from: Stephen Gornick on May 16, 2012, 11:15:08 PM

Quote from: BIGMERVE on May 16, 2012, 11:02:16 PM

By the way this is my favorite bitcoin website.

It really is a fantastic service, isn't it?

Quote from: BIGMERVE on May 16, 2012, 11:02:16 PM

I hope it gets more and more popular so the pots get larger.

I am glad you enjoy the site.

Stephen Gornick

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Quote from: BIGMERVE on May 16, 2012, 11:02:16 PM

By the way this is my favorite bitcoin website.

It really is a fantastic service, isn't it?

Quote from: BIGMERVE on May 16, 2012, 11:02:16 PM

I hope it gets more and more popular so the pots get larger.

Though I make mostly small wagers, I have many of them open currently. Instead of withdrawing winnings though, I find myself using those towards additional wagers. And because there are many new bets all the time, I am depositing more pretty regularly, so my "Balance in Bets" keeps growing:
- http://betsofbitco.in/profile

I wonder if that is typical use.

BIGMERVE

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Quote from: coinjedi on May 16, 2012, 09:00:12 PM

Quote from: BIGMERVE on May 16, 2012, 03:47:06 PM

This statement was supposed to be decided yesterday. http://betsofbitco.in/item?id=361

Done!

For future reference, we usually do the decision within 24 hours following the Event Date which is set at the end of the day you see.

Ah I see. Thanks. By the way this is my favorite bitcoin website. Really sleek design and fun to play with. I hope it gets more and more popular so the pots get larger.

coinjedi

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Quote from: BIGMERVE on May 16, 2012, 03:47:06 PM

This statement was supposed to be decided yesterday. http://betsofbitco.in/item?id=361

Done!

For future reference, we usually do the decision within 24 hours following the Event Date which is set at the end of the day you see.

BIGMERVE

hero member

Activity: 728

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This statement was supposed to be decided yesterday. http://betsofbitco.in/item?id=361

coinjedi

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We think that we need to draw a line where the "fair" betting ends. This is unavoidably subjective, but we think that it is a better choice for an extra piece of mind of the earlier bettors. If we start to take into account of all the minuscule possibilities we can not exercise any early closure of bets. I hope you'll appreciate the decision.

Topic: Bets of Bitcoin - Bitcoin betting on real world events - page 17. (Read 62147 times)