Stockr.co - Bet on hourly and daily candle changes!

Stockr.co

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Quote from: leowonderful on October 11, 2018, 05:15:50 PM

I think the site that BitCoinDream was referencing was secondstrade.com, which closed down sometime in 2017 due to an apparent database hack that emptied the site of most of their funds. The Secondstrade account was also purportedly hacked and is now negged. I'm still not completely sure what happened in that whole situation and whether or not it was a deliberate scheme to run away with user funds.

Interesting game. I've always liked binary options, but the 69% rate definitely turns me away when there are other sites with higher rates out there. I may still check out the site, though. Do you have any idea what your maximum bet will become after the low maximum bet is removed?

We have lowered the return right as of now. The rate varies on what is the current crypto forecast. It takes into account if we're in a bear market across a sample of data and other details. The maximum will continue to increase as we take on more customers and are able to spread our risk.

Thekool1s

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Quote

1-2% house edge? are you sure you have heard what binary option is?
it is not your usual dice provably fair casino, may want to read here:
https://www.forextraders.com/binary-options/binary-options-trading-explained/

Yeah, The highest return I have seen from binary options is around 86%.

Quote

Would it make you think that the site will be fairer if it used a regulated market index like the Nasdaq instead of the price of bitcoin in Bitfinex? It would be better, I reckon. Less suspicions of price manipulation.

No, it won't. You can never be sure about what's going on behind the scene.

Quote

In any case, asking for provably fair in the sense that it is free from manipulation is asking for the impossible.

Exactly! So I would rather gamble on something which is provable-fair than something which can't be free from manipulation.

bbc.reporter

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Quote from: Thekool1s on October 15, 2018, 05:49:09 AM

@carlfebz2 and @bbc.reporter

Are you guys for real?

Here, I will highlight an important part which you guys skipped.

Quote

'Provable fair' in the sense of free from 'manipulation'.

I know how the traditional 'Provable fairness' works and how it can't be used for binary trading or any sort of trading at all.

Would it make you think that the site will be fairer if it used a regulated market index like the Nasdaq instead of the price of bitcoin in Bitfinex? It would be better, I reckon. Less suspicions of price manipulation.

In any case, asking for provably fair in the sense that it is free from manipulation is asking for the impossible.

carlfebz2

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Quote from: Thekool1s on October 15, 2018, 05:49:09 AM

@carlfebz2 and @bbc.reporter

Are you guys for real?

Here, I will highlight an important part which you guys skipped.

Quote

'Provable fair' in the sense of free from 'manipulation'.

I know how the traditional 'Provable fairness' works and how it can't be used for binary trading or any sort of trading at all.

You have some point yet each price can be verified on Bitfinex exchange which can be considered fair but we should be keen on checking out price results if our bet timer ends.

Thekool1s

legendary

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Change is in your hands

@carlfebz2 and @bbc.reporter

Are you guys for real?

Here, I will highlight an important part which you guys skipped.

Quote

'Provable fair' in the sense of free from 'manipulation'.

I know how the traditional 'Provable fairness' works and how it can't be used for binary trading or any sort of trading at all.

game-protect

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Quote from: Stockr.co on October 05, 2018, 01:05:09 PM

We are based in San Francisco, USA.

Who is the operator and where is your license?

kryptqnick

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Quote from: Stockr.co on October 05, 2018, 01:05:09 PM

Stockr.co is an online platform with a user friendly interface created to allow traders and alike to place wagers on the price change of crypto currencies. We offer wagers for 1hr and Daily timelines.

The idea is pretty nice. At least it's not some typical dice or poker new website. Betting on prices makes sense, since this way the bearish market doesn't form any disasdantages for a 'trader'. One can profit from being right that the price will go down. Your offered choice of cryptos is very limited, though. I wanted to say that there should be a demo mode with everything fastened, so that people could try it out for free and see how it all goes. I saw there's a demo account Test Tester, but when I tried to log in with it, it didn't work.. Oh. and Lorem ipsum instead of Terms of Service is something you reeeally should fix. How can people deposit money if they can't read your, say, withdrawal and fees policy?
Good luck!

veleten

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Quote from: DarkDays on October 13, 2018, 04:48:38 PM

Isn't this pretty much exactly the same as opening a short/long position on Bitmex?

Can you explain the difference between Stockr.co and margin trading as they seem to be extremely similar.

Quote from: Thekool1s on October 07, 2018, 07:36:13 AM

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You can validate that BitFinex rates are used by matching the prices from your platform and from ours. If the prices match or are very close, we are probably using the same platform.

Doesn't changes the fact that the rates weren't manipulated in your favour.

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I guess the solution to this would be to enable use of different data providers by the user, which is something that we can offer in the future.

No, it isn't the solution. Just because you are using data from multiple sources doesn't mean that they can't be manipulated. Just like @BitCoinDream said these binary options aren't provable fair and the house edge is a quite large one with them usually at around 11-20% on average. A whopping 33% in your case.

This users suggests that your house edge is 33%, can you confirm this to be the case? If so, how can you justify such a significant house edge when the industry standard for betting portals is closed to 1-2%?

their house edge is 31% I think, you get 69% + if you get the prediction correctly
some binary options return a fraction of your stake if you got it wrong, but I think it is not the case here

1-2% house edge? are you sure you have heard what binary option is?
it is not your usual dice provably fair casino, may want to read here:
https://www.forextraders.com/binary-options/binary-options-trading-explained/

carlfebz2

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Quote from: bbc.reporter on October 13, 2018, 07:02:43 PM

Quote from: Thekool1s on October 13, 2018, 05:51:24 AM

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You appear to be trying too hard by using that as an argument. It's silly hehehe. I reckon a real whale will not be so foolish to do all the work to open a binary options site and do more work to manipulate the market just to make small returns.

So what? it's a valid one. Plus it doesn't have to be a whale to manipulate the price. It can be a pump and dump group trying to make more money. The only thing 'silly' here is you trying to troll people and failing badly at it... :3 Tongue

It is a valid one, but how can you make the market provably fair? This is not a dice game a developer can prove by use of code that the algorithm for the rolls are fair.

Asking a binary options site to make the game provably fair is silly.

This isnt a gambling site to say about provably fair but brokers can eventually had the capability on making price ticker to make some delays or price outcome so as you make
some guess then keeping an eye to the exchange on where they do get on the price because single price swing tick can really make you lose. Provably fair word wont really be applicable on this one.

bbc.reporter

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Quote from: Thekool1s on October 13, 2018, 05:51:24 AM

Quote

You appear to be trying too hard by using that as an argument. It's silly hehehe. I reckon a real whale will not be so foolish to do all the work to open a binary options site and do more work to manipulate the market just to make small returns.

So what? it's a valid one. Plus it doesn't have to be a whale to manipulate the price. It can be a pump and dump group trying to make more money. The only thing 'silly' here is you trying to troll people and failing badly at it... :3 Tongue

It is a valid one, but how can you make the market provably fair? This is not a dice game a developer can prove by use of code that the algorithm for the rolls are fair.

Asking a binary options site to make the game provably fair is silly.

DarkDays

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Isn't this pretty much exactly the same as opening a short/long position on Bitmex?

Can you explain the difference between Stockr.co and margin trading as they seem to be extremely similar.

Quote from: Thekool1s on October 07, 2018, 07:36:13 AM

Quote

You can validate that BitFinex rates are used by matching the prices from your platform and from ours. If the prices match or are very close, we are probably using the same platform.

Doesn't changes the fact that the rates weren't manipulated in your favour.

Quote

I guess the solution to this would be to enable use of different data providers by the user, which is something that we can offer in the future.

No, it isn't the solution. Just because you are using data from multiple sources doesn't mean that they can't be manipulated. Just like @BitCoinDream said these binary options aren't provable fair and the house edge is a quite large one with them usually at around 11-20% on average. A whopping 33% in your case.

This users suggests that your house edge is 33%, can you confirm this to be the case? If so, how can you justify such a significant house edge when the industry standard for betting portals is closed to 1-2%?

slaman29

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Quote from: Patatas on October 13, 2018, 06:24:53 AM

Quote from: Stockr.co on October 11, 2018, 02:30:03 PM

Quote from: BitCoinDream on October 06, 2018, 07:07:15 PM

I am seeing such games since 2014. Unfortunately, these type of games are not provably fair.

Would be be able to tell me of other games that are the same way? Why do you think it is not fair? If you are confident in your trading ability, why not?

Because he doesn't control the market? If he's a trading genius, he can just double his money on the exchanges thereby avoiding all the gamble or so-called candle challenges? It's a gamble clearly.

Exactly. It's the same poor logic everybody who ever sells a strategy, bot, technique, whatever. Even those marketers who sell tickets to their positive motivation seminars or self help books or whatever. If you can make a million dollars all by yourself, trading or gambling or whatever, why would you want to make small change from selling those tips? If you were truly "good" you would be giving it for free.

Like I said, I just don't get why people interested in the market would want to bet on this game, not knowing how the decisions are truly made. Not that I think OP could control the market at all. Just if you really want to gamble on the price. Go long or go short. Easy peasy.

Patatas

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Quote from: Stockr.co on October 11, 2018, 02:30:03 PM

Quote from: BitCoinDream on October 06, 2018, 07:07:15 PM

I am seeing such games since 2014. Unfortunately, these type of games are not provably fair.

Would be be able to tell me of other games that are the same way? Why do you think it is not fair? If you are confident in your trading ability, why not?

Because he doesn't control the market? If he's a trading genius, he can just double his money on the exchanges thereby avoiding all the gamble or so-called candle challenges? It's a gamble clearly.

Thekool1s

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Change is in your hands

Quote

You appear to be trying too hard by using that as an argument. It's silly hehehe. I reckon a real whale will not be so foolish to do all the work to open a binary options site and do more work to manipulate the market just to make small returns.

So what? it's a valid one. Plus it doesn't have to be a whale to manipulate the price. It can be a pump and dump group trying to make more money. The only thing 'silly' here is you trying to troll people and failing badly at it... :3 Tongue

Tipstar

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Vave.com - Crypto Casino

Binary options had made a good market in forex and commodity trading but has been a let down for cryptos.
There were few good binary options but they ceased operating and some popular gambling sites too introduce the binary options in some period of time and disabling them eventually. I was scammed a bit of amount by the latest that went off, gogooptions and I'm cautious when it comes to something like that. I'd wait for some users to review there use of the site before jumping in.

bbc.reporter

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Quote from: Thekool1s on October 12, 2018, 06:35:28 AM

Quote from: bbc.reporter on October 11, 2018, 07:27:53 PM

Quote from: BitCoinDream on October 06, 2018, 07:07:15 PM

I am seeing such games since 2014. Unfortunately, these type of games are not provably fair.

Not provably fair how? There are no random number generators used in the game. The game is only about betting on the price of a coin if it goes high or low. Also, everything is based on the prices of the major cryptocoin markets in Bitfinex. It is not a dice game.

'Provable fair' in the sense of free from 'manipulation'. What makes you think OP isn't a whale and can't manipulate the bitcoin price at bitfinex? Let's say I max bet on BTC that it will be above $6200 in an hour and OP has a good chunk of BTCs and can manipulate the price to drop below $6200. He wins all the bets plus by backs at the lower price due to panic sellers. He makes a good chunk of money in an hour and there is no way for the gambler to verify that the manipulation was done by OP or some other whale. While the opposite is also true, Some 'whale' can make them go Bankrupt by manipulating the price on bitfinex in his favour.

You appear to be trying too hard by using that as an argument. It's silly hehehe. I reckon a real whale will not be so foolish to do all the work to open a binary options site and do more work to manipulate the market just to make small returns.

@slaman29. Bitfinex. The provably fair exchange. That would be their new marketing tagline hehehe.

slaman29

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Quote from: bbc.reporter on October 11, 2018, 07:27:53 PM

Quote from: BitCoinDream on October 06, 2018, 07:07:15 PM

I am seeing such games since 2014. Unfortunately, these type of games are not provably fair.

Not provably fair how? There are no random number generators used in the game. The game is only about betting on the price of a coin if it goes high or low. Also, everything is based on the prices of the major cryptocoin markets in Bitfinex. It is not a dice game.

You couldn't apply the same provably fair mechanisms (using cryptographic hash calculations etc) but actually there are some ways to help prove the game is fair. Maybe timestamps fed into Bitfinex API (or other way round) that enter the snapshot into blockchain or something. I'm not a coder but there should be ways to make this "Provably fair".

I don't know why you would bet like this though. Why not just make an account and trade on x100 leverage or something? Then you lose or win all the same. Maybe I just don't get the attraction.

Thekool1s

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Change is in your hands

Quote from: bbc.reporter on October 11, 2018, 07:27:53 PM

Quote from: BitCoinDream on October 06, 2018, 07:07:15 PM

I am seeing such games since 2014. Unfortunately, these type of games are not provably fair.

Not provably fair how? There are no random number generators used in the game. The game is only about betting on the price of a coin if it goes high or low. Also, everything is based on the prices of the major cryptocoin markets in Bitfinex. It is not a dice game.

'Provable fair' in the sense of free from 'manipulation'. What makes you think OP isn't a whale and can't manipulate the bitcoin price at bitfinex? Let's say I max bet on BTC that it will be above $6200 in an hour and OP has a good chunk of BTCs and can manipulate the price to drop below $6200. He wins all the bets plus by backs at the lower price due to panic sellers. He makes a good chunk of money in an hour and there is no way for the gambler to verify that the manipulation was done by OP or some other whale. While the opposite is also true, Some 'whale' can make them go Bankrupt by manipulating the price on bitfinex in his favour.

stomachgrowls

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Quote from: leowonderful on October 11, 2018, 05:15:50 PM

I think the site that BitCoinDream was referencing was secondstrade.com, which closed down sometime in 2017 due to an apparent database hack that emptied the site of most of their funds. The Secondstrade account was also purportedly hacked and is now negged. I'm still not completely sure what happened in that whole situation and whether or not it was a deliberate scheme to run away with user funds.

Interesting game. I've always liked binary options, but the 69% rate definitely turns me away when there are other sites with higher rates out there. I may still check out the site, though. Do you have any idea what your maximum bet will become after the low maximum bet is removed?

Maybe the odds do increase out when the time is close to the limit hourly time.Im not sure if this how it works but if not or shall we say its already fixed then it would be a big turn-off these odds will really put you to hesitation to make bet.

Quote from: bbc.reporter on October 11, 2018, 07:27:53 PM

Quote from: BitCoinDream on October 06, 2018, 07:07:15 PM

I am seeing such games since 2014. Unfortunately, these type of games are not provably fair.

Not provably fair how? There are no random number generators used in the game. The game is only about betting on the price of a coin if it goes high or low. Also, everything is based on the prices of the major cryptocoin markets in Bitfinex. It is not a dice game.

This clearly states that this dude doesnt even know on whats binary-option like which do talks about provably fair. Grin

bbc.reporter

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Quote from: BitCoinDream on October 06, 2018, 07:07:15 PM

I am seeing such games since 2014. Unfortunately, these type of games are not provably fair.

Not provably fair how? There are no random number generators used in the game. The game is only about betting on the price of a coin if it goes high or low. Also, everything is based on the prices of the major cryptocoin markets in Bitfinex. It is not a dice game.

Topic: Stockr.co - Bet on hourly and daily candle changes! (Read 413 times)