Topic: ⭐ Crypto.Games ⭐ 0.8% House Edge on Dice ⭐ Largest wagering contest...ever ⭐ - page 181. (Read 346569 times)

BIP173 base32/bech32 is still very new and not commonly used yet, AFAIK the only wallet currently able to send Coins to base32/bech32 addresses is Electrum itself.
If base32/bech32 happens to become the standard for segwit addresses (which imo is likely, opposing to current p2sh), or even just becomes commonly used besides p2sh,
it's going to be integrated and you'll be able to withdraw to a base32/bech32 address.

As to when this option will be available, I can't really make a prediction yet.

While you're on the subject of transaction fees can I ask if you have any plans to support withdrawals to bech32 BTC addresses as implemented in Electrum version 3?

Charging for deposits  

They know exactly how much they'll pay before executing withdrawal. If they position slider to the left, they'll pay 0.0006 btc, if they want fast withdrawals, they'll slide it to the right and pay 0.003 btc. It's player choice how much they'll willing to pay for withdrawing their funds.

yeah, i bet everyday 5-10 people wd like you did thinking it would cost $2.59 to wd. letting the player pay $11.70 and doesnt know its gonna be that much is wrong.

but of course luptin is calling you stupid for not understanding how blockchain and fees work.


because all gamblers know everything about blockchain and fees per k and how to mine ect.

Today's Bitcoin lottery (round 213) draw results:

Place	Nickname	Owned Tickets	Winning Ticket	Chance of winning	Reward in Bitcoin
1	Dimagog	95	251	18.924%	0.04016 BTC
2	thenerd314	23	366	4.582%	0.00753 BTC
3	baapvis	55	37	10.558%	0.00301 BTC

Congratulations winners




Ethereum Lotto round #76 will close in approx 7 hours!

Current prizes:
1st place:  0.0760 ETH
2nd place: 0.0143 ETH
3rd place: 0.0057 ETH

Total tickets bought so far: 38
Price per ticket: 0.0025 ETH






Catch the winning spirit!

Sorry for mentioning another site here, but if you're interested in an at-cost model check out the fees on bustadice.com . It constantly changes based on network conditions, but is designed to exactly model the site costs. For reference at the moment:

Deposit fee: 368 satoshis  (since there's a consolidation overhead for deposits)


Instant Withdrawal Fee: 45580 satoshis (should confirm in < 2 confs, with a 95% probability)
or
Delayed Withdrawal Fee: 9010 satoshis (delayed until someone else makes a withdrawal)


Although a big part of the reason it's so cheap is due to optimization (like using segwit), but I think it makes a good base-line as it's not subsidized (or a profit center). Not that it's particularly relevant, but the amortized investor commission is 25%

Yet provides a disadvantage for those who stake the bankroll for a very long time, loyal users with standing investments for several months or even years (at least a disadvantage compared to the current system).

Different sites handle situations like transaction fees or investment commissions in different ways, I don't think there's a right or wrong here.
Likewise, users might prefer one way or the other.

Gladly, we're currently in a phase where there are many different trusted services to pick from,
so everyone can find something suited for them (one just has to think back to when MtGox was the only exchange and everyone had to use it).
On top of that, there's viable alternatives to Bitcoins rising transaction fees with Litecoin, Ethereum or similar options all available on CG.

And after all, Lightning is just around the corner, possibly instant deposits and withdrawals with close to no fees, an interesting time, to say the least.

Unless I misunderstood the whole discussion, it looks pretty obvious to me that players would prefer lower transaction fees and investors would prefer lower commissions.

Charging higher withdrawal fees disadvantages those will lessor coins over those with more. A slightly higher commission affects everyone evenly. I'd choose the latter. In addition, very low withdrawal fees is a psychological benefit that could see a lot of more smaller players gamble on the site. If I was the owner I'd def. choose a higher commission (like 33% etc).

Yolodice charges a 35% commission on investments, while Crypto-Games only charges 30%, and at the same time carries 30% of the loses for the investors, should there be any.
Maybe they can afford to make net losses on transactions because they rake in more profit through investment commissions?

Would you prefer a higher investment commission over higher transaction fees?

Ok fine. Then my thoughts are that assuming a transaction size of 1kb is unrealistic (most transactions are much smaller than this), I believe that crypto-games would be definitely net ahead on charging fees this way. For perspective, Yolodice allows you to withdraw for only 15,000 Sat (regardless of the network), they probably make a loss on that but for people like me it keeps us happy. Well, I guess if no one else is complaining then the system will remain as is, however I think it'd be good to simplify it to change a static fee, where on average, the site is on balance even. I will take it that for all the other coins, the slider fee is the ACTUAL fee too.

I think you misunderstood my previous post about the fees.
The withdrawal fee you pay is always the fee a 1 kB transaction would need (hence "you pay the per kB fee").

If your transaction is bigger than 1 kB (eg because there are several inputs used, which quickly amount to a huge transactions, as they are way bigger than outputs), then the site takes up the remainder of the fees.
If your transaction is smaller than 1 kB, then you end up paying more fees than actually used.

As users can't influence how big their withdrawal transactions are, and it's hard for the site to predict how big those transactions will be, before actually sending it,
all users are paying the same fee (as in, the fee for 1kB), regardless of transaction size. This way, the system is fair for everyone.

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The withdrawal window tells you exactly how big a fee you pay and how much you receive from your total withdrawal amount.

I think it is clear, the only thing not mentioned on the withdrawal page itself is that the fee is per kB (which is mentioned in the FAQ, though).



You can see that a 0.1BTC withdrawal with a 0.00108BTC fee gives you a value of 0.09892BTC sent to your wallet (0.1-0.00108=0.09892).

As for the costs, that's mainly related to Bitcoin transaction fees, fees for eg litecoin are fairly low if you want alternatives.

Hi Lutpin, I must say again I'm a little disappointed  with the fact that the fee system for withdrawals is not, to me totally transparent. This might not matter to the majority of gamblers, but for smaller investors like me, it makes a difference, and is an issue.

You said earlier that the transaction fee slider is in the units BTC / Kb. (i.e. based on the size of the transaction).

I just withdrew 0.5747133 BTC. I selected the transaction fee slider to 0.00156000 BTC, expecting that the total balance (i.e. 0.5747133) will be sent, MINUS a transaction fee per kb, OF 0.00156BTC/kb. (so for example if transaction size is 300 bytes, I'd have expected to be sent 0.5747133 - 0.00156/1024*300 = 0.574256269.

Now what's actually happened was TWO things:
https://blockchain.info/tx/f92697229a778f6d7884cd9cd4dbc63ca0f84ea59322a33ae781125b9d36b010

1) Only 0.57315332 BTC was sent, therefore 0.00156 (approx $11.70 USD) was taken a SEPARATE FEE to Crypto-games.
2) A transaction fee per kb of 0.00156BTC / KB was used to send the transaction in 1) to the blockchain.

Therefore the ACTUAL fee assumed a transaction size of 1KB (and applied that fee to me, on that basis), even though the ACTUAL transaction size was only 224 Bytes, therefore I paid a significantly larger fee than I thought I would.

I know you might attack me and say I'm wrong. I like the site, and the ability to invest, I just don't know why the fee system isn't clearer and also cheaper. From the link, I expected to pay 0.00034944 BTC (Which was the actual transaction charge for putting it on the blockchain, not 0.00156).

Additionally, I have other investments in other coins but have no idea how fees work for them. For example, the slider can't all be based on fee per kb because ETH has a different system (uses gas). Are you able to make it clearer to everyone on how fees work?

So, it seems 2x has just been called off.
https://lists.linuxfoundation.org/pipermail/bitcoin-segwit2x/2017-November/000685.html

Even then it's probably just going to tank the price anyway, it's now trading for around 0.027 BTC at Yobit.
Imagine what the price will do once everyone starts dumping their BTG, people are just waiting for it and they've probably prepared as well.

Bitcoin cash was a success compared to this thing 

Tuesday's Litecoin lottery round 18 draw results:

Place	Nickname	Owned Tickets	Winning Ticket	Chance of winning	Reward in Litecoin
1	Aaden580	350	686	21.110%	13.264 LTC
2	Adkyn566	51	1400	3.076%	2.487 LTC
3	Aaden580	350	867	21.110%	0.995 LTC

Bitcoin Lotto round #213 will close in approx 7 hours!

Current prizes:
1st place:  0.03864 BTC
2nd place: 0.00724 BTC
3rd place: 0.00290 BTC

Total tickets bought so far: 483
Price per ticket: 0.00010 BTC

* No house edge on lotto, 1% is added to total prize pool






Catch the winning spirit!

Monday's Dogecoin lottery round 106 draw results:

Place	Nickname	Owned Tickets	Winning Ticket	Chance of winning	Reward in DOGE
1	Ailin015	556	242	24.397%	455,800 DOGE
2	Haeda168	209	1212	9.171%	85,463 DOGE
3	Ailin015	556	284	24.397%	34,185 DOGE

Congratulations!




LiteCoin Lotto round #18 will close in approx 10 hours!

Current prizes:
1st place: 13.240 LTC
2nd place: 2.482 LTC
3rd place: 0.993 LTC

Total tickets bought so far: 1655
Price per ticket: 0.01 LTC


Current Progressive Dice jackpot balance per currency:

• 3.058 BTC
• 16.33 DASH
• 2,583,674 DOGE
• 101.71 ETH
• 13,693 GRC
• 105,23 LTC
• 250,460,512 PLAY
• 418,74 PPC
• 149,32 STRAT
• 11,37 XMR

Last hit was on October 18th, 2017. More info how to hit Jackpot can be found in our FAQ.




Catch the winning spirit!

Roughly 0.03% (0.98^400 -> 0.00030933586).

That's for sure.


How you managed to decipher that I'll never know, but well done. I've been googling but I can't find how to calculate the probability of no occurrence of a 2% chance in a 400 sample. But thinking about it the other way round If you were rolling a 98% chance and you got lucky without losing in 400 rolls you would be happy but it wouldn't seem all that strange.

Feels like we've wasted more time thinking about what the scrambled message might mean, than the person writing it bothered to use when providing us with this...literature.

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On another note, BTG got a testnet since a few days. It's only a matter of years until they've got things running on a main net level.