Greetings all, I'm looking for opinions on "best practice" in this scenario.
Say I have a bitcoin game of skill, there is an entry fee per contestant to test their skill against one another, there are 10 contestant spots in total. The winner receives all of the entry fees.
Should those 10 contestants each submit their entry fee to the same bitcoin receiving address, or should each competitor have their own private address to send to?
Note that this is a game of skill, so it's not gambling. Also worth noting, javascript is required for the game to work (so it's kind of already lacking real anonymity).
I like the idea of transparency, easily confirming all contestants have submitted their entry fee to same receiving address.
I understand some may not like that approach regarding lack of privacy.
Your thoughts are appreciated, Thank you!
I think that the easiest way to do that is setting up a unique bitcoin address to each game.
At the end of the game, the system checks the bitcoin address of the winners and releases the funds, the funds that remain in the address are the house edge that you take( or entry fee, whatever), so you can later transfer the house edge to a different address.
The 2nd option, and it's a little more complicated:
If you with to reach the highest level of private, you would need to have a starting bankroll, and then each player sends his bitcoin to a unique bitcoin address( unique address to every player, not unique address to every game), and the payouts goes out from an external address( so it is impossible to track the addresses of the players).