Ninjastic
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Board Gambling discussion
Re: A physical Bitcoin casino
by
Erkallys
on 13/01/2016, 16:52:48 UTC
Quote from: Ceizer54 on January 13, 2016, 04:45:21 PM
Quote from: pereira4 on January 13, 2016, 04:08:44 PM
Quote from: Ceizer54 on January 13, 2016, 03:47:28 PM
Quote from: pereira4 on January 12, 2016, 03:45:07 PM
Has anyone considered this yet? A in-real-life Bitcoin casino with Bitcoin machines where you can scan QR codes on them and deposit your BTC on there and start playing. I think it would be pretty cool, no longer would have to deal with annoying coins which are always dirty and are pretty disgusting to touch specially while you are eating/drinking while you play. The machines would be able to do things normal machines can't do, and stealing funds from the casino would be next to impossible since there are no physical money to stuff, it's all digital and encrypted.

Who will be the first person to start a successful physical Bitcoin business?
Idea sounds fun and interesting but i think there are two problems to this:
1.What if someone bet and wins big and in a hurry to withdraw but his deposit confirmation is taking too long then he has to wait at the casino to get his money,yes?
2.Sometimes although rarely bitcoin confirmations can take upto hours so the player can not play instantly therefore it's much better to have online casino as player can play just by logging to the website again instead of visiting the casino!

The main problem seem to be confirmation times yes, but as I said, 0 confirmation shouldn't be an issue, since it's still way safer than trusting credit cards (lets remind here that credit cards take 180 days to confirm, yet I dont see anyone complaining). But again, Lightning Network alone should be enough to be able to make this sort of service feasible, but we will need to wait 1+ year for this to be working, so right now I don't see much ways around it other than dealing with 0 confs.
0 confirmations are not safe and you should know it unless you are aware of recent malleability attack.A player can send fake transaction or double spent and that tx will never get even 1 confirmation because the same input is spended twice so therefore atleast 1 conifrmation requirement is necessary and then again in some rare cases it can take many hours to even get 1 confirmation(Personal experience) so yeah,this is the main problem.

To solve this problem, like I already proposed in this thread earlier, you can accept Bitcoin paper wallets instead of raw bitcoins. Also, people could have to create an account at the enter of the casino with all their bitcoins on it. Then all the transactions would be internal, without confirmation time nor transaction fees. While with paper wallets people could write in a paper the private keys and spend the bitcoins before the casino, I can't find any problem to the second system Smiley !