Since when is bitcoin anonymous?
Bet anonymously with Bitcoin on Bitbet.us
11–20 of 26 posts
Re: Bet anonymously with Bitcoin on Bitbet.us
#12Why would they register that domain? From Wikipedia:
Under .US nexus requirements .US domains may be registered only by the following qualified entities:
• Any United States citizen or resident,
• Any United States entity, such as organizations or corporations,
• Any foreign entity or organization with a bona fide presence in the United States
To ensure that these requirements are met, NeuStar frequently conducts "spot checks" on registrant information.
Re: Bet anonymously with Bitcoin on Bitbet.us
#13interesting to see .us domain name, given online betting is illegal in us.
Well, they're not betting with real money, are they?
Re: Bet anonymously with Bitcoin on Bitbet.us
#14It's a neat idea and I'm glad bitcoin is moving forward, but to me this is really dirty business to be in.
Re: Bet anonymously with Bitcoin on Bitbet.us
#15This betting site has a really stupid betting system. It appears that the amount of money you receive isn't based on a pricing of the bet, as is done on all real prediction markets, but based on a simple payout of all the bets received on the other side of the bet by the end of the bet date. This system has two practical consequences: 1. You can't determine the markets current probability estimates from the current state of the market, as you can with priced markets. 2. You should never bet until the last second so you can know the odds for the bet. In fact, it would make sense to create a sniping bot that would programmatically calculate the odds, compare them to your probability estimate, and only make the bet if it is favorable. There is another site called Bets of Bitcoin (http://betsofbitco.in/) that has similarly dumb rules.
Edit: It appears that they actually tilt the payouts of bets based on an arbitrary weighting factor towards earlier bettors (arbitrary in that it doesn't at all take into account changing risk circumstances or likely levels of risk decay as a real market would), in some undisclosed fashion. I recommend that no one bet on this highly flawed system.
Re: Bet anonymously with Bitcoin on Bitbet.us
#16This betting site has a really stupid betting system. It appears that the amount of money you receive isn't based on a pricing of the bet, as is done on all real prediction markets, but based on a simple payout of all the bets received on the other side of the bet by the end of the bet date. This system has two practical consequences: 1. You can't determine the markets current probability estimates from the current s…
I have to agree, I was trying to work out how the odds are calculated and it makes no sense. Why not copy what Betfair or Intrade or something like that do.
Re: Bet anonymously with Bitcoin on Bitbet.us
#17This betting site has a really stupid betting system. It appears that the amount of money you receive isn't based on a pricing of the bet, as is done on all real prediction markets, but based on a simple payout of all the bets received on the other side of the bet by the end of the bet date. This system has two practical consequences: 1. You can't determine the markets current probability estimates from the current s…
Isn't this just parimutuel betting? What's the difference?
Re: Bet anonymously with Bitcoin on Bitbet.us
#18If only one of these fifty bitcoin betting site developers created a prediction market instead, he'd have my money.
Re: Bet anonymously with Bitcoin on Bitbet.us
#19interesting to see .us domain name, given online betting is illegal in us.
Well, they're not betting with real money, are they?
Doubt it matters. Any commodity that has value ought to be covered, and value is simply determined by people's willingness to pay, so bitcoins clearly have value. You can't get around gambling laws by gambling with chickens rather than dollars, so why would bitcoins be any different?