While watching the first few bitcoin games (I played one too and lost lol) .. It has become obvious that using the current system, bitcoin transaction fees make micro-transactions very wasteful. Playing a game for 0.001 bitcoins means the winner will get 0.001 - 0.0005 - 0.001*3% = 0.00047! That is a very crappy return.
To fix this.. I will implement off-chain transactions for transfers between players. So bitcoin blockchain fees of 0.0005 will only occur upon withdraws in the next update. This will allow players to keep more money after every game they play, allowing them to play more, bet more, and, basically not waste 0.0005 BTC every time they play. Those tiny fees add up, especially in micro-transactions.
With the new scheme, you will be able to play games for mere Satoshi wagers without incurring fees until you actually withdraw funds.
So you can bet 0.001, and the winner will get 0.001 - 0.001*3% = 0.00097, a much, much better return and better incentive to play.
So in the mean time.. it's really just profitable to play large-wager games.
It's my honest observation, so stay tuned, and although i would love you to play wager games at this time, but for your own benefit, wait for the next update coming in a week or so
.
- rs
To fix this.. I will implement off-chain transactions for transfers between players. So bitcoin blockchain fees of 0.0005 will only occur upon withdraws in the next update. This will allow players to keep more money after every game they play, allowing them to play more, bet more, and, basically not waste 0.0005 BTC every time they play. Those tiny fees add up, especially in micro-transactions.
With the new scheme, you will be able to play games for mere Satoshi wagers without incurring fees until you actually withdraw funds.
So you can bet 0.001, and the winner will get 0.001 - 0.001*3% = 0.00097, a much, much better return and better incentive to play.
So in the mean time.. it's really just profitable to play large-wager games.
It's my honest observation, so stay tuned, and although i would love you to play wager games at this time, but for your own benefit, wait for the next update coming in a week or so
.- rs