Quote from: xbet.io on September 16, 2014, 10:39:08 AM

Quote from: xbet.io on September 14, 2014, 02:28:04 PM

Quote from: ctlaltdefeat on September 13, 2014, 11:22:06 AM

1. Why is the fee taken from the matched amount and not from the net profit like other exchanges?
2. Why am I unable to see the amounts in the "view market"?
3. It claims that some BTC addresses are invalid even though they clearly are not.
4. Your signature claims "instant bets" even though as far as I understand bets have to enter the blockchain (a matter of minutes) first.

Thank you for your interest in XBet.IO.

As you can see, we are now quite busy but we will gladly answer any questions you may have after we are finished integrating the new feature.

You have asked valid questions and we will address them in order:

1. The fee structure is embedded inside the counterparty technology we are using to keep users' funds safe in the protocol's escrow. The 1% fee is considerably lower than standard betting sites.

2. We are working on improving that display, We will update shortly.

3. We have received another report on this issue from another user but none of our tests has shown any problem with BTC addresses. Please PM the address you were using and we will take care of it.

4. In XBet.IO, bets are settled publicly on the blockchain. For that reason, only after one confirmation bets are considered valid by the Counterparty network. Normally, if a user has XCP, it can place a bet immediately from its own wallet. On XBet.IO, we have developed a system that allows users to make a bet just as fast using BTC. We have been able to cut down the delay and make it as fast as one block from the moment the BTC deposit is made, until the moment the bet is placed on the blockchain. From the user's perspective, a bet takes only seconds to make, and all the heavy lifting is made "backstage" by XBet.IO.

1. Fair enough, that appears to be how counterparty works. Note that there are betting exchanges, such as matchbook.com, that offer 1% fee on net profit. Even exchanges that offer 2% fee on net profit, such as smarkets.com, are better for the bettor for odds less than a certain threshold.
2. I see you've added it, thanks, as that's crucial when the site doesn't have that much liquidity and you are just the ones creating most of the odds. But I would just like to confirm: the amounts below the odds for LAYING are supposed to represent the BACKER's stake, not the layer's risk. Is that the way it is?
4. I'm not sure how that addresses what I wrote. I realize you automatically convert BTC to XCP, but betting, as far as the user is concerned, are in no way instant and in fact take whole minutes to register.

A new question regarding the new feature you introduced: what is the benefit to being an "oracle"?

Lastly, when attempting to bet using BTC I see this: "Your winnings and any unmatched part of your bet, will be sent as is, in XCP, to your bitcoin payout address. Next time you place a bet, you will be able to use them to bet safe without depositing". I don't understand how this works. How do you send XCP to my BTC address?