Quote from: judyballhairy on December 23, 2013, 06:13:07 AM

Quote from: human on December 23, 2013, 04:37:38 AM

Quote from: judyballhairy on December 23, 2013, 01:04:21 AM

Here's what one should develop around this coin:

A poker site where buy in goes into house wallet before the game/tourney and payouts happen no matter what at the end of each game/tourney - no manual withdrawls or deposits over the amount to buy in or reload chips. Rake gets paid from house wallet out to casino owner wallet immediately. I'm researching bitcoin casinos and it seems like a lot of them get hacked all balances stolen.... quite often. A lot of the time, this might even be the casino owner stealing everyone's balances and pretending it's hacked.

Can you explain this for a non poker player please? Who has control of the wallets?

Normally you deposit money at the gaming site and it sits in your "account" in their wallet. Then every time you play, you play from that account. When you want to cash out, you manually do so. What people do is deposit watever amount and then leave it in there. Winnings get tallied up in the account, while the casino coin, or whatever other currency is held by the house. When they want to cash out, they manually cash out. There are a lot of bitcoin casino sites that get hacked and the house wallet gets emptied by the hacker - meaning those "points" are worthless. This is why someone should develop a casino where currency is transfered in and out regularly and doesn't stay in the house wallet for too long. With the low transaction fees of crypto, this is easy. With regular currency, transaction fees were too high to do this, which is why some poker players has thousands or more in their account when the US government stopped letting them withdrawl and make deposits in their US bank accounts a couple of years ago. That money was pretty much lost forever.

It wouldn't take much effort to take an existing solution and just force users to include a return address when registering. This would work fine for scheduled tournaments but it could get a little annoying for people wanting to play cash games since they would have to fund and wait for confirmations every time they sat down to play.