Topic: eSports Live $10k, Bet on eSports & more with low fees or create your own casino - page 2. (Read 330 times)

I am confused, your statement is contradicting. Do you like their concept of using Buck as the currency for the platform or are you agreeing that bitcoin should be used?
I agree that, using their own stable coin could save the value of coin. The problem is, it is not tradeable in any other platform nor it is listed.
Which I think some gamblers would consider before playing their platform.

The site seems to be interesting.
But as like other members,  i too didn't like the concept of Bitcoin as the Gambling coin.
Btc is widely accepted in many casinos and therby accepted by all.
According to me many players don't want to play with the site's default token.
The main reason for this is that,  the token hasn't been traded yet.
So OP hope you will consider all the suggestions soon.

There's no need for your casino to create a bitcoin backed coin because bitcoin itself suits as an accepted cryptocurrency for majority of the casinos. I understand that you're trying to save the value through this bucks you have which is just available on your exchange.

This is like buying an altcoin that has a utility for its own platform.

USDT, USDC, GUSD

Players can buy in with Bitcoin and then cash out to Bitcoin any time.  Both processes are fully automated so I don't believe it's any slower or less convenient than sites where you bet directly with Bitcoin.

We can do a Bitcoin backed coin if players would prefer to have the value of their in-game coins fluctuate with the value of BTC rather than dollars.  Or do one backed by dollars and another backed by BTC and allow players to choose.


Yes, correct.


Not exactly.  This is a platform for a plurality of currencies.  The idea is that anyone can issue a new coin and then give it value by backing it with tangible sources of value.  In this case, I have $10k that I can personally put up to back this currency.  Putting an end date on the coin and requiring the backing dollars to be paid out avoids the situation where a stablecoin operator can use funds from the escrow because there is no clear obligation to repay.

If having USDB increase vs USD due to deflation from fees is too complicated, we could set betting fees to zero and maintain a strict $1 per buck peg.

Because the whole platform is working on Bucks and that's just the way they've designed it. This whole project is all about their stable coin and they want to concentrate on increasing it's price until eventually they are going to pay those $10k to all coin holders. He explained everything, all you have to do is read the whole thing.

^I would see this stablecoin usdb they are using on the site more like a token to be traded for the more well known coins once you want a withdrawal processed.
This seems to be the route more and more crypto casinos are going towards offering their own token system to bet with.

Betting using stable coin "Bucks"? Inconvenient, why not accept direct bitcoin or any other crypto instead. Would have been better if you would directly let players bet than letting them buying a stable coin that is not traded yet.

PolyCash is the ultimate open source gambling protocol.  PolyCash integrates with Bitcoin, Litecoin and other blockchains and makes it easy to create a cryptocurrency for betting on anything.

We recently launched eSports Live $10k.  This is a game for betting on CS:GO, Dota 2 and League of Legends using a stablecoin called "bucks" (USDB).  This colored coin runs on the Litecoin network and is backed by $10,000 in real dollars.

To bet on eSports, you first need to acquire some bucks.  Bucks are not listed on any exchange, so for now, you'll need to purchase bucks by depositing BTC to one of the public nodes hosting the eSports Live $10k crypto asset, such as https://poly.cash.  Your BTC will immediately be converted to bucks based on the current USD/BTC exchange rate.

You can set up a wallet by either:
1. Installing Litecoin, PolyCash and eSports Live $10k on your own computer.
2. Creating a web wallet on a public node like https://poly.cash

Now that you have a wallet and some bucks, bet on as many eSports events as you want.  eSports Live $10k charges a fee of 1% on each winning bet.

You can sell out at any time by entering a Bitcoin address.  Buy-ins and sell-outs are not quite instantaneous because one confirmation is required on Bitcoin or Litecoin.

This is a maximally decentralized betting platform and there's no house taking a cut.  Instead, the 1% fee is destroyed, reducing the supply of bucks.  The supply of bucks decreases as more and more betting fees are paid.  But the $10k backing this currency remains constant, causing bucks to grow in value vs the US dollar.  PolyCash is a pioneer of a concept called the "fixed term token" in which pegged coins are wound down for the sake of transparency rather than living indefinitely. eSports Live $10k will not live forever, and at some point this stablecoin will be wound down and the $10,000 backing it will be paid out to the coin holders via the Litecoin network.  We have not yet set an end date for this $10k stablecoin, but will eventually do so based on feedback from coin holders.

This eSports betting game is pegged to the dollar but we can just as easily create coins pegged to bitcoin, eth and more.  We can also integrate data sources for betting on other topics like sports or stocks.

Here are some screenshots of betting, buying in and selling out. Right click and open in new tab to see full size.


This project has been under development for a while and the concept has changed significantly since we got started.  Please help us revolutionize the betting industry with open source software by making some bets with BTC or posting any questions or comments in this thread.