Topic: ▂▃▅▆█ BITSLER █▆▅▃▂ INVEST - page 2. (Read 1927 times)

That's similar to the way Contingency (the ETH platform BitcoinStrip linked to), kind of.
It would definitely work but I think it could be too slow for the players that are used to 10+ bets a second.

Yeah, i can think of a few ways.

The simplest is the one I developed before, you can check out pevpot's thread which is now defunct, but it had a provably fair scheme that was totally fair for both investors and players, and used the blockchain in a way that was robust against miners too. But since the method requires waiting on blocks, the UX is going to suck pretty hugely. But it might be worth it for huge bets (e.g. >100 btc). Maybe?


The other way to make it provably fair for investors, the workflow could be something like this:

1) User sends bet to the server
2) Server publishes that bet to investors
3) Investor with at least $BETPROFIT BTC in theier account accepts the bet, and sends a hash of a random number and seed they generated
4) Server locks user/investor balance for the amount and sends the server hash to the user
5) User records the hash, and then sends a client seed to the server
6) Server sends client seed to investor
7) Investor uses the client seed to know if they they won or lost, records it, and reveals their original random number and seed
Server validates the investor random number and seed, and resolves the bet in favor of the investor or client


That should be provably fair for both investors and users.


With a bit of scripting magic, I'm reasonably sure it's possible to make the above procedure not just provably fair, but actually completely trustless. I'll avoid saying too much, incase I stumble upon a bottle of amphetamines and get the energy to try commercialize it =)

Thanks for the vouch there.

There's not really any great solution to the problem. Dooglus, NLNico, me and some other people in the forum have proposed or looked in to methods before but nothing was really great. Most ideas involve extra servers and would make betting a lot slower for players.

The best option investors have is to invest only what they can afford to lose in people/sites they feel won't cheat them. Options are usually slim

An investment option could be good for you as you get to cater to whales who bet big.

I've actually just divested from a bunch of sites because I like to have total control of my coins and don't want the stress of worrying if a player on a site has found a way to cheat of if the owners are just winning themselves. Note that I'm not accusing any sites of doing this, but I just prefer to not have to worry about it.

if youre write example about profit 100 bitcoin, and investor can get 75 bitcoin
so share profit to investor 75%, how investor can get calculation profit from website

Short answer: not really.

With Bitcoin alone, it's just not possible. There's no mathematically sound solution that doesn't involve severely hindering the casino. However, Ethereum is looking promising for this kind of stuff.

I wrote a blog post about it here:

https://thebitcoinstrip.com/blog/the-next-chapter-of-crypto-gambling.html

There was site which tried to implement provably fair for investors, but they didn't last long. Here is their old ann thread https://bitcointalksearch.org/topic/rolldiceio-the-first-provably-fair-for-investors-and-players-bitcoin-dice-game-920704
NlNico started thread on same topic back in 2014 https://bitcointalksearch.org/topic/provably-fair-for-investors-774458
Seems hard to release such independent system which is fair for both players and investors, in this case I would trust Bitsler with investment.

Hello,

It's been several months since our team is thinking  about opening Bitsler.com for investments.  The goal is to be able to provide a much higher max bet than 10 or 20 BTC, something like 100-150 BTC.  However, our major concern  is  the FAIRNESS.  Indeed, it is easy for people with an access to the server to create an account and make it win. I don't tell that other online casinos who are opened for investments already did it , not at all.   I am just trying to say that it could be done by them, so  the investors will never find out about it.
I could give my money to people like Dooglus or Dean without any hesitation or fear. But even if your investment was profitable,  you will never know if the owner cheated on you (Let's take an example of the casino that made :  +100 BTC profit .  Its' owner may create an account and win 25 BTC.  Even if you are still in profit : +75 BTC, you have been cheated on and your profit has been decreased). And this is a big problem for us, especially when we are talking about a big amount of money.

We all know, that Provably Fair System exists for relations between players and casino. But after doing some research, we didn't find a provably fair system for relations between  the investors and casino.  I know that Dooglus thought about a system like that in the past (someone wrote it in a topic).

Is there someone who has an idea of how to provide (create) a provably fair system for relations between the investors and casino ?

Thanks