all the checking of fairness is good, but after reading and testing, I came to an alarming realization.
for online dice game sites, it's true that the site can't cheat us with provable fair, but what's keeping the site operations from cheating the investors by creating dummy accounts and reviewing their own Server Seed and staring betting?
for online dice game sites, it's true that the site can't cheat us with provable fair, but what's keeping the site operations from cheating the investors by creating dummy accounts and reviewing their own Server Seed and staring betting?
Thats where the trust comes to play
This. You can only trust the site owners that he is not doing it.
Also the provably fair system does NOT prevent a site from cheating its players. The site can still cheat, but the player will notice the cheat and will be able to prove it with the provably fair system. One example would be dicebitco.in which cheated by skipping nonce.
Good point, I also would like to point out few things:
- Provably fair is not one stop solution, but it does helps a lot. A cheating site can be easily spotted, especially with the help of third party verifier. Seuntjie's bot has a command to check the integrity of all your bets at once, and dicesites.com can get the roll result in a bulk, both of them are integrated to SD.
- Site operator does able to play as a players and trust plays an important role in this part. You will have to look at how the operator operate the site and use your instinct. But actually as an investors what you should really look for is the return of your investment and the site's profitability. In the long run, it should be similar to the house edge times the total wager (although the long run can be very long). At this time, I'm lucky I'm able to say this because so far the site's profit is above its expected profit, and our investors have been enjoying their return. But of course it can be easily disrupted by the variance when a whale comes in.
