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Show HN: My friends just built a Bitcoin casino

bitino.com

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Re: Show HN: My friends just built a Bitcoin casino

#21

Post by bitino »

EwanToo wrote: post #17

On initial glance, and I may be a million miles off here, it feels like the history section which shows payouts is rather redundant. It seems like there's nothing to stop the casino inserting their own played games (either real but fixed, or entirely faked) to "adjust" the balance of historical payouts in one direction or another? The concept of the public seeds is clever though

we hear you.

however, historical payouts dont effect the veracity/authenticity and fairness of the game.

they are displayed to highlight some recent payouts more to establish initial credibility than anything else.

Re: Show HN: My friends just built a Bitcoin casino

#22

Post by impostervt »

I gave it a shot with 0.1 BTC. Funds were available to start using a few seconds after I sent them. Went up a bit, got a 10, decided to cash out. Funds can't be withdrawn until the initial transfer has been confirmed 6 times (standard w/ bitcoins).

Fun, simple. GJ.

Re: Show HN: My friends just built a Bitcoin casino

#23

Post by bitino »

EwanToo wrote: post #19
bitino wrote: post #9

Earlier quoted context omitted.

it's all about reputation. all games are made public online. all payouts are displayed on the website. if things went array for any reason it would be public knowledge very quickly and thus the end of the site.

What stops you inserting your own choice of extra payouts into the game history? This would make people believe you were paying out at a higher rate than you actually are. I'm not suggesting you're doing that, just wondering what stops it, as I don't see anything immediately obvious.

nothing technically stops us but again i see payout history as a 'soft credibility booster'

the games are random and can be verified to be so. we publish the payout table. if you win we pay, if you lose, we don't.

other peoples historic results have no bearing on the authenticity of your game.

Re: Show HN: My friends just built a Bitcoin casino

#27

Post by phreeza »

npguy wrote: post #25

Just curious, how this link was posted anew, since there was one on HN previously? http://news.ycombinator.com/item?id=5293812

heh, it seems one has a trailing slash and the other doesn't. I knew the dupe detector could be tricked by a trailing #, but this is new to me.

Re: Show HN: My friends just built a Bitcoin casino

#28

Post by celticninja »

jerguismi wrote: post #5

I don't really understand why "provably fair" would be so big deal. The house is winning always, no matter what. But I don't gamble myself, so perhaps I don't uderstand that world that well.

i guess because things like 888casino are not provably fair you just have to take their word for it that it really did come in as red 8 times in a row taking all your money, at least with provably fair you can see how red or black are determined and then confirmt hat you were not screwed becase you dropped a big bet on the table but you were screwed by random chance.

Re: Show HN: My friends just built a Bitcoin casino

#29

Post by oleganza »

bitino wrote: post #8
jerguismi wrote: post #5

I don't really understand why "provably fair" would be so big deal. The house is winning always, no matter what. But I don't gamble myself, so perhaps I don't uderstand that world that well.

Provably fair means the shuffle and order of the cards are verifiably random and also that they cant be changed once the game has started. Provably fair means you know exactly what you are dealing with before you start. Game payout odds are clearly displayed in the payout table.

Not exactly. It means, you can check two things after you have played:

1. The random number was generated before you even started. So the house could not change the number depending on the actual bets.

2. Distribution of random numbers over time. E.g. if the rule is "win when uniformly random number 0..1 is greater than 0.5", then you can check the history of all random numbers played (at least with your bets, if you don't trust the house to show real bets for other players) and calculate the properties of actual distribution. If it does not contain a significant offset, then it's fair. (Small deviations can be seen simply as part of the fee.)

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