Topic: ChipMixer.com betting is now provably fair - page 2. (Read 2059 times)

I'm not really much of a competitive person, I think it's great for the industry when there's more fair and honest gambling options.

Slightly off topic. But it also goes into why I think their house-edge is totally reasonable:

When someone goes to a casino, their intention is to gamble. If they win, they'll probably just gamble more. That's why I don't think from a business perspective an online casino will see a huge difference in revenue between having a 0.2% house edge and a 1% house edge (other than you can't offer as big limits sanely) as I suspect on a 0.2% edge site (e.g. like bustabit's historical average) people will tend to gamble ~5x as much as a 1% edge site (as people tend to be loss constrained).

But a site like chipmixer, I think the draw is clearly for privacy/mixing and gambling is just an add-on to improve that. So I suspect there's not going to be much turnover of the same money (if you win, you'll probably just withdraw immediately), so to sanely be able to offer it -- it makes sense to have a higher house edge.


For reference, for every 1 BTC someone's deposited at bustabit they've on averaged turned it over 18.78 times and then left with 0.96 BTC. Without such a high turn over, there's no real way I could really be paying the bills with such a low edge.


Anyway, I think what chipmixer is doing is pretty cool. I really like their idea of giving you a private key (instead of sending you money) so you can spend link it with your wallet and throw off any analytics. It's all pretty neat 

Do you see their new offering in the gambling world some competative competition to your site ryan?

Maybe a nyan called chipper perhaps.

Just kidding mate!
Everybody just loves you site. Which I have always thought it was an offshoot of Moneypot.
I think I asked you once if you were a former owner of that league of gambling sites.

Does this mean house edge is more than 5%  If yes than that is really huge and I don't think any wise guy will bet on your platform. I don't think gambling and mixing mix well however I have to say what you have developed is awesome and quite unique and easy to use mixing service.

I guess I somewhat understand the point of this.

For starts since its a mixing service, it obviously has the capital to pay out everybody since their BTC cold storage is large.

Secondly is that for most people the only way to mix is to split the amounts. Because if you mix 1 BTC, and 5 minutes later 1 BTC minus fees arrives somewhere else, then it can be easily traceable.

So you have to split them and when you split them with different time frames its very difficult if not impossible to detect the destination. What this site does is, instead of splitting you can just gamble it away, so if you gamble away 20% of your deposit, it will be hard to track the other 80%. Or you can be lucky and win 20% and in the same way would be difficult to track.

I with this site and service luck.

Wow, I never knew that a mixing site could make a gambling site! Thats really nice OP, it's a good way to keep it cool here in the gambling sections. It is nice since I have not seen anything like this int past. I guess people will surely try out this function whenever they are mixing their coins. It's good also that you implemented provably fair games. Good luck OP

If you said your bankroll is much much higher why only limited us 0.128 btc only for the highest bet? This is pretty low for "much much bankroll". This is pretty absurd when you have great bankroll but only to let us play as 0.128 btc as max bet

The highest chip value you can bet is 128 mBTC. Our "bankroll" is much, much higher.

We are not a casino. Casino's goal is to provide fun and addicting way of spending percentage of your coins. Our goal is to increase users privacy in which betting makes mixer's output unpredictable. We are not against casinos, we have different goals.

In our defence we did not expect betting function to be that popular. It was just an extra way to improve privacy whenever you use it or not. But then people went with whole double my bitcoins routine and improvements for betting was inevitable.

I was referring to a fair betting system by saying standard.
You can either verify your bets or not I dont think there is something you can do to go above standard
But no one can trust your site as long as you are not provably fair.

I can definitely see the added privacy this could add due to changing the amount of outputs and making it harder to trace.

Although I'm not sure I'd want to gamble during the mixing process. The only downside is if the coins were somehow associated with gambling after the mixing process but I don't see this being the case due to the mixing process. Therefore there probably isn't any harm in offering the ability to gamble as long as the provably fair mechanism is solid.

Provably fair means, now the user car prove the fairness of every bets. It does't mean the site was unfiar (making up bet results) without it.

Well, first i didn't try your gambling site at all because of the busy mode but as what i've see. It jave nice features and it's new with my eyes...... Would highely try this one if i have some free time. Anyways i've seen that tjere's so many promoting also this casino. Hope rhis one become popular

You won't be able to expect always to win but with the large stock of bankroll, I think a the bigger changes will come as you win. Fair gaming always prevails as you do the game with a promising bets but not to the extent that you drown yourself even bank roll has no enough funds. Make sure to bet in a desired amount you needed to play exactly and do fun gaming games.

I didn't knew that.
The mixer generally have a large stock that can easily work as a bankroll.
And the house edge always wins.

So it wasnt provably fair before?

How much btc is on your website for mixing? Because if it is not large enough than you cannot mix coins for large bets.

Looks good. I never even thought about that. That's a damn good idea. Gives oeoe something to do while they mix. You should make a live video of the mix happening for us to see. Good idea . Nice to see different things coming up.

Hi nice to see this improvement. For what I know this is the first mixer with this feature!
I hope to see other funny options for mixing my btc.

What would you change with ChipMixer to go higher than standard?

True being probably is the basic standard for any gambling site. However, the features and uniqueness the website offers makes it more attractive to users but in gambling industry the more old the more trustable. So have patient and keep doing the good work and go for the site.

I dont think that gambling goes well with tumbling. It looks like a desperate try to increase the winnings 

And btw any betting site that wants to be legit should be provably fair, so thats not really an upgrade but reaching the standard...

There is no mixing tax. We use donations and bets to fund ourselves.

For support please contact us by e-mail or BitcoinTalk PM. I have sent you PM.

ChipMixer started as a mixer with betting function added for increased privacy (it is harder to guess mixer's output if user can withdraw more than they deposited). We have received a lot of positive feedback about betting function and requests for provably fair mechanism.