Post
Topic
Board Securities
Re: S.DICE - SatoshiDICE 100% Dividend-Paying Asset on MPEx
by
greatscott
on 01/06/2013, 16:02:47 UTC
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Asicminer is not setting any sort of precedent. Dividends used to be weekly back in the old Global Scam Exchange days (with some daily). MPEx set a precedent by getting rid of the sort of bullshit. The only surviving corp off the Global Scam Exchange hasn't yet gotten the memo, they're stubborn. They'll learn. So will you.

Did I strike a nerve? Anyways, I didn't know - but even if it's not a precedent, I think moving to a weekly dividend pay-out could make confidence in the stock return more quickly...

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You need to read up on Bitcoin. Don't start with the concept of provably fair, start with the very basics.
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You need to read up on cryptography. Don't start with "why does a hashing function have to yield uniform distributions", start with the very basics.

I think you misinterpret what I meant. Provably fair means that the game isn't rigged (i.e. the house isn't cheating the gambler), not that the statistics of the game itself are good. I know Satoshi Dice is provably fair: the public keys (that represent the secret daily message) were put into the blockchain before the site's launched. I've gone through the whole verification process of both validating that the secret matches its public key from the SHA256 hash, and that the "lucky" number is properly produced, by doing the keyed SHA512 on the txid+secret message and looking at the top 4 digits. This part of the system certainly work.

I'm talking about the casino statistics of the game itself, and setting the game parameters (such as allowable min/max bet) so that the profit/loss variance is smaller (i.e. you're less likely to report a loss for the month). It is probably uniform, but if the distribution of "lucky" numbers happen to not be uniform, then this could be probabilistically exploited. E.G. If numbers < 32,000 tend to lie more in the 1:16k range than in the 16k:32k range or vice-versa. Something like this could contribute to a bigger profit/loss variance or bias it.