Guaranteed Fair! - Bitcoin Blockchain Betting - Merkleroot.net

raven7886

legendary

Activity: 1512

Merit: 1041

This looks like the old satoshidice times. Now, I am not saying it is not good since it has worked before and it has been one of the highest sold item in history of bitcoin when satoshidice was sold for about 12 thousand bitcoins or something like that I do not remember but in the end it was a lot of money.

Overall, you need to realize there has been a lot of improvements on the world of casinos and there are so many websites with amazing graphics, awesome games, a lot of choices and big promotions and so forth that when it comes to playing like the old days it doesn't really worth the effort put into playing like old days once again. That is why I think it will not work in 2019, it was a great deal at 2009 but not in 2019 since it could literally be exchanged for a much much better version everywhere in the internet.

adaseb

legendary

Activity: 3808

Merit: 1723

I think this would work better if it was done on the ETH network using a smart contract. Because then it would be completely trustless and also provably fair.

As I can understand this is a good way to prove that the bet result isn't manipulated since it would take enormous amounts of power on the BTC network to alter the merkle root to just alter a single bet; highly unlikely and almost impossible.

However how do we have proof that if someone makes a bet and wins that they will be paid out for sure with their winnings? So far I looked at some addresses and only 1 transaction took place on,

df042b2ab78eb6dbf852f1442efd515fc63de91db039998b54a641e37f5477e2

Which was included in block 560545 which had a merkle root of
866ec8f21b2ad93c5ac18c2d29efc90ba5d34fb7c82d2ccdf32eab8a3f259a8e

Which isn't the winning hash digit, so the source addresses didn't have any BTC sent back to it. So lets say someone has a winning bet, what proof can you provide that they will be actually paid out?

So this is still centralized similiar to most dice sites which are also provably fair. However you are capped at a 16x bet which cannot be altered except for the base bet. The only advantage I Can see is anonymity since a user doesn't need to login to a gambling site which its bets are done on-chain, but most gamblers just use VPN/TOR and use XMR if they want anonymity which most dice sites offer these days.

DarkStar_

legendary

Activity: 2772

Merit: 3282

I would recommend signing a message to prove your bankroll size (Max win is 0.0792BTC, so you should have around 7BTC bankroll optimally. Signing a message from an address with 1BTC+ shouldn't be too hard). You should also consider using Vanitygen to generate vanity addresses for your betting options. Instead of fully random addresses, something like 1charA might be more visually appealing and shouldn't be too hard to generate.

stomachgrowls

hero member

Activity: 3010

Merit: 794

Quote from: BitcoinGirl.Club on January 28, 2019, 11:51:05 PM

Quote from: stadus on January 28, 2019, 08:52:33 PM

Game is very transparent as you cannot cheat the blockchain, but I don't know if people will be more interested in this kind of game.
If I still remember right, I've seen this kind of game before but it did prosper, I hope you'll achieve a different outcome in the future, good luck.

I assume you meant to say that it did not prosper? I guess it's not the game to be blamed may be those guys did not do proper marketing? Success of a project depends of various factors. One is the product quality.

Having a proper marketing on said project wont give you out guaranteed success or able to get lots of players but having this thing a must-consider when you are in a business like this.
Marketing is one of the important factors but it wont give 100% positive outcome. If good marketing plus having good promotions or events plus good service and UI then i will say high chances this
will caught attention.

About the game, we have seen lots of blockchain-based games where winners been chosen on the last character of said transaction hash but look as of this moment.Give me a site that did prosper?

BitcoinGirl.Club

legendary

Activity: 2800

Merit: 2736

Farewell LEO: o_e_l_e_o

Quote from: stadus on January 28, 2019, 08:52:33 PM

Game is very transparent as you cannot cheat the blockchain, but I don't know if people will be more interested in this kind of game.
If I still remember right, I've seen this kind of game before but it did prosper, I hope you'll achieve a different outcome in the future, good luck.

I assume you meant to say that it did not prosper? I guess it's not the game to be blamed may be those guys did not do proper marketing? Success of a project depends of various factors. One is the product quality.

stadus

legendary

Activity: 3080

Merit: 1292

Hhampuz for Campaign management

Quote from: betVSme on January 28, 2019, 07:27:50 PM

I will quote this as you requested.

Game is very transparent as you cannot cheat the blockchain, but I don't know if people will be more interested in this kind of game.
If I still remember right, I've seen this kind of game before but it did prosper, I hope you'll achieve a different outcome in the future, good luck.

betVSme

jr. member

Activity: 102

Merit: 1

Topic: Guaranteed Fair! - Bitcoin Blockchain Betting - Merkleroot.net (Read 173 times)