Quote from: magician on July 06, 2014, 09:25:53 PM

Quote from: FandangledGizmo on July 06, 2014, 07:32:03 PM

Quote from: newpeled1986 on July 05, 2014, 10:55:13 PM

Quote from: magician on July 05, 2014, 09:43:52 PM

The next version has a fix so transactions will go through pretty much instantly. We'll work on transaction chaining as well. Alternative faster blockchains are still on the table.

great news!

Quote from: magician on July 05, 2014, 10:08:21 PM

If we set house edge to -2% and people wager 500,000 CHA for an expected house loss of 10,000 CHA, I'd call that a huge win for Chancecoin. The theoretical price should decrease by about 2%, but the price should really skyrocket after that kind of gambling volume.

I agree with the Devs on this - I like this creative thinking.

But truth be told I think something like this can have an impact on gambling volume but there is still more work to do on the user experience side.
Devs if you still haven't tried https://primedice.com/ please do so - It is important to check out our competition.
You will see the big difference in the speed of bets and flow.
Right now it is hard to bring new gamblers to chancecoin, its to much of a "hassle" for them.
Is it possible to have a chancecoin wallet like counterwallet (deterministic electrum wallet)?

How often can you make a bet in your system?

If you gave me a 2% edge, I'd make $1000 bets expecting to make $20 on average per bet. If I could make a bet every 15 seconds, I'd be making $80 a minute on average from you guys. Over the course of just 1 Day, I'd be expected to take $115 000 out of your coin, in exchange for only putting in a meagre $1-20K of my own money into your coin at the beginning to bankroll it, depending on how I fared with variance (with 2% odds in my favour, 100k bankroll and $1000 bets then http://www.albionresearch.com/kelly/default.php)

Is the above right?

We would have a limit to prevent this (probably a maximum total wagered with negative edge per block or per 100 blocks). The point is to encourage gambling, not to let someone take down the house.

Cool. Yeah when I first read it, it sounded like a good marketing idea, until I realised even a small edge can take down the house quite quickly. If you are able to prevent someone from doing that it could be quite good.