Topic: Looking for investors / lenders for http://simple-dice.com (Read 882 times)

Huh?

You say you know 100% of all web design and development programming languages yet you're working with someone who knows more?

What makes this site better to go with than Just-Dice, a site that already has the same system implemented? What are you doing that is better and fresh to bring in players? What benefits are you offering to investors that are above and beyond what Just-Dice already offers?

If anyone is interest, feel free to shoot me a message.

Valid point.

Firstly, any site can do this...  Regardless of a user's trust, you can go unnoticed doing this and thus trust is irrelevant.

"Character is doing the right thing when nobody's looking. There are too many people who think that the only thing that's right is to get by, and the only thing that's wrong is to get caught."

-J. C. Watts

You may think someone is trusted but people will do something you wouldn't believe if they could get away with it without anybody knowing.  It's human nature - hence why I said you have a valid point.

Secondly, I can use a nonce that's unpredictable and can't be doctored i.e. the tx id.

There are many ways to avoid this.  I could even use the generated deposit address as the nonce.

If it's a worry or an issue it will be rectified for the security of the player.

Not to mention, by the time I was able to find the outcome, there would be a new secret.

You are not trusted thus you cannot be trusted that you will not bet as a player knowing what the outcomes will be. You could easily bet the max and know the outcome by looking at the secret/client/server seeds for your next rolls.

Thank you for taking the time to assess necessary questions and concerns.

1.  All investments will be held by a trusted escrow within the community.  Since payments (deposit/cashouts) are routed through Coinbase's API the escrow will make a Coinbase account and hold the majority of all investments and deposits.  He will send me a small portion of these funds daily to maintain smaller cashouts so that the people betting any amount under 1 will be able to instantly cashout.

If a high-roller is betting, when he cashes out and if the amount is larger than the current amount in my Coinbase wallet, a text-message will be sent to the escrow using php's mail() function containing the amount that the user tried to cashout, the username, and the time.  Upon the instance of that user's cashout, his balance will be drained (the amount he entered only) and the escrow will deliver the funds.  Unfortunately since I'm not trusted in this community (yet), this is necessary for me to legitimately run the site.

2.  Users aren't gambling for PayPal.  I'm providing fiat services.  They gamble the Bitcoin and I'm simply allowing them to purchase simple-dice's PayPal for their bitcoin.  Users will never have the ability to fund via PayPal - simply because it would complicate things on my end and because of the legalities.

However, if this becomes an issue, I'll eliminate the option with ease.  I'm probably not as legally attuned as you are, but I plan on having a discussion with a lawyer.

3.  I am a developer - I know all web-design and development programming / scripting languages.  However, I am working with a partner that is much more knowledgeable than myself.  I can answer any question regarding the site and help anyone with any issues they're having and there would be no wait-time due to "waiting for my developer to come online."

Thanks for taking the time to discuss this with me.  If you have any further questions, feel free to e-mail me at [email protected], reply to my post, or PM me.

OK, assuming you are not TheCape, I have a few questions:

1) If you hold investments in escrow, how are you planning to handle player withdrawals in the meantime? What if a wealthy player wins a large sum of money, how will you cash them out?

2) You are claiming to be able to cash out Bitcoin balances in LTC or PayPal. Do you realize that using PayPal for gambling is against its TOS?


3) You said that you purchased this site from TheCape. Are you a developer? Are you capable of running a secure server yourself and implementing changes, or are you, as he claimed to be doing, hiring the original developer to do these things?

I'm not TheCape.  I purchased the site and source code from him because he didn't want to run it any longer.

I'm assuming he had intentions of not running it legitimately.

I am having all investments held by escrow 100% until divestment.

I'm running it on a different host, however, I did purchase the domain-name from him.

Warning: This user is a sock puppet of TheCape. Here's his old thread:

https://bitcointalksearch.org/topic/looking-for-investors-own-partially-own-gambling-site-268671

In that thread he claimed he no longer needed any investors.

Because you're looking for investors, not a loan, maybe?

Why would it belong there?

You should post it here:
https://bitcointalk.org/index.php?board=78.0


Or if you want an escrow, search in the service section.

I'm looking for investors.  I'm launching my gambling site http://simple-dice.com very soon.  There is an invest option in-site, however, when I launch I want to have one or two investors to back the site for the day it launches.

Until I attain more trust in the community, all investments will be held by a trusted escrow.  I'm currently in the process of searching for an escrow to hold site investments.

2% Commission is taken on all profits.  For example, if you invest 1 BTC and it grows to 1.1, you can cashout 1.098.  Commission is only taken when you divest.

The house edge is 1%.

Some unique / different features:

• Instant 0 Confirmation Deposits
• Profit Counter
• Raffle Counter (1 Raffle ticket added to your account per bet 0.05 or above, prize is 1BTC per week.  Being implemented soon)

If you're interested in investing - shoot me a PM with your budget and or any questions.

If you're interested in escrowing investments - shoot me a PM and if I deem you trustworthy enough within this community I'll discuss it with you.  You will receive a portion of the commission.

Thank you.