Topic: ⚜️⚜️⚜️⚜️ Edgeless - World‘s First Ethereum Based Crypto Casino ⚜️⚜️⚜️⚜️ - page 338. (Read 391229 times)

Yeah, interested with Edgeless project! Now i participated in signature + avatar campaign

I think that the coin of the year is unlikely to be. will be very good if gather a vDice

Each month, 40% of casino profits are automatically (using a smart contract) transferred to an Edgeless Lounge Lottery prize pool.

EDG token holders can easily participate in a lottery and win a share of casino profits.

EDG tokens cannot be lost, they are used for participation and returned to players.

Everyone wins a share of lottery's prize pool. Your prize depends on your EDG token proportion to other participants in a lottery.

join on slack here https://edgelessethcasino.signup.team/
or you can sent a pm to Edgeles.

hai dev i would like to ask for an explanation of Edgeles lounge
whether Edgeles lounge it apart from ICO?

Yes, that's a fascinating thing With a smart contract it would be extremely awesome. We have plans for this in 2017 too!

But before that we need to make sure that our games run flawlessly and then implement investment option.

Please support "EDGELESS CASINO on Thunderclap guys
https://www.thunderclap.it/projects/53522-edgeless-casino-crowdsale
log in with your social media account and share on twitter, facebook and tumblr.

Mikko Ohtamaa - First's Bloods IT advisor. We will share his official audit on our channels once he will publish it (it will be today), because contract final version is already uploaded on a github.

Reason why iconomi invested in a golem without an escrow: it's just a simple game theory/ human psychology. Golem guys are already on blockchain community for a while. Technically blockchain is their topic of chitchat/ topic of real talks/ religion and direction of life in general. They raised couple of million.

Now they have 2 options:

1) Run a way with ETH. But team would sacrifice their long-term reputation, blockchain knowledge, life direction, self-development opportunities. Technically blockchain doors would be closed to them. That means cost/ opportunity cost is extremely high of this option. Also 3000 hunder people funded them. Decent part of these investors know computers really well. They can easily hack systems and find where these guys are located.

2) Use ETH and develop something awesome: increased reputation, you become a role model in a blockchain community/ get approval, your project attracts more and more high status/ wealthy people who showed an interested. It gets even more funding. Also functioning project can make you 1000x more rich than cheesy scam.

In this particular scenario, chosing an option 1 is just a pure stupidity. Opportunity cost is way too high. Since blockchain community members are capable of logical thinking/ are already way more knowledgeable than rest of the population there is super high chance they would go with an option 2 and discard option 1.

Value creation is always better for all stakeholders including yourself than scam attempts. Especially in a field such a blockchain which is like internet 30 years ago. And we are glad to be in exact time where all real action happens.

Game theory is a really awesome thing. Thanks to John Nash. https://en.wikipedia.org/wiki/Cooperative_game_theory

Yeap thats an unbearable amount for another eth related token. They should look at something well under 10 USD, that would be quite achievable. If u lower ur target cap down to 6 dollars someone might want to invest. Vagabonds, retired folks and student dishwashers are ur potential clients.

I understand your points but
1. I am not familiar with the ethereum smart contract language and therefore cant verify your statements. Who is the auditor?
2. The smart contract just protect a scam during ICO. There is no guarantee that you will scam us the first day after ICO and the tokens will be worthless even if tradeable. Thats why good organised escrow funds are released when specific product milestones are reached. I am really surprised that projects like golem didnt have such a escrow and iconomi invested in it without escrow. this is still wild west investing and people will get punished for it I am sure

I think this is a very serious project with a good business case and team. I will also invest <1 BTC but cant invest more. You have to know that smart money dont invest like wild west style

Generous bounty for participants. What are the different milestones?

Thing is that a crowdsale is guided by an automatic Ethereum Smart Contract which enables conditions where it works as an escrow too. That's one of the reasons why ethereum is so popular.

Ethereum Smart Contract automatically distributes tokens, lock tokens, do all investment protection and more - also people (including dev. team) CANT influence a smart contract because it's on a blockchain. Principle is the same as a bitcoin transaction - if it get's approval - transaction is successful and you cannot change it.

Exactly same method was used by other famous ETH projects such as Golem and Melonport. All investment process was super smooth and successful. Also both projects got funded in first 15 mins. And it's because people trust ethereum smart contracts a lot.

Since our all casino/ casino financial operations are purely based on Ethereum Smart Contract, it would be hypocritical/ controversial for us to run an ICO without smart contracts.

Also we hired a 3rd party auditor (Mikko Ohtamaa - First's Bloods IT advisor) to do intense security check on a contract, we have a contract kill-switch with a multi-sig wallet and many more security measures. Also today our auditor will post an official blog and confirm that everything what we mentioned in a whitepaper actually is in a smart contract.

Another strong point: our team has known, credible and old blockchain community members - Paolo Rebuffo and Ransu Salovaara. Probably they would not want to risk own reputation, if we were no credible.

main features of contracts:

- it has own escrow, during an ICO no-one can't touch ETH
- contract on real time sends EDG tokens for your ETH
- unsold EDG tokens are automatically burned
- if minimum goal is not reached, all ETH is returned to investors
- EDG tokens become immediately tradable after an ICO

Contacts can be found here: https://github.com/EdgelessCasino/Smart-Contracts

to be honest: without a real (and well known) escrow I am not capable to invest a lot. I think there are a lot of people thinking the same. I also know that its not difficult for such a  project to get a honest and well known escrow. there are even some for free at this forum. I think this is a big mistake and will have  a big effect on the funding results. after many scams even with escrows I have learned to invest large amounts only with well known escrows.
I think this project has a lot of potential and I really want to invest more.

So the team is looking for minimum of $650,000 looking at the present Ether price. I think they should be able to hit the target but will that be enough for the platform.

Yeah, it must be ETH, EHT is the typo, sir good catch, the team will be very appreciated that. Incredible observation and most people ignored that typo.

There is a mistake in the whitepaper page 19:

"If the crowdsale does not reach its capital goal of 50000 EHT ", this should mean ETH , right ? 

I wanna ask a question, can people invest in the house? Like some dice sites, people can invest in house. One more, who are escrows of the project?

yes the team has identified a good market to enter but my main concern is that the space is very competitive, especially now that we have VDice, Enthroll and now Edgeless on thesame platform and we all know that Bitcoin casinos are very dominant in this space.

so only 2 days to start ICO program.I joined twitter and Facebook bounty.How to claim my bounty after the ICO?am i need an ICO account for that or bounty will be send direct to my eth wallet?

That's true.

Market conditions (demand for online gambling and transparancy, ethereum technically capacity, market knowledge, price of the capital, competition and more) are extremely good, it would be plain stupid not to execute the project.

From game theory perspective: project potential reward is so high and achievable that there is no economical incentive to dump tokens and run a way.

Right now, 2017 is a right time and blockchain community is a right place for this kind of a project.