Quote from: dooglus on October 22, 2014, 03:53:32 AM

Quote from: SatoshiDICE_PR on October 21, 2014, 10:26:18 PM

Quote from: dooglus on October 21, 2014, 05:38:42 PM

Quote from: RocketSingh on October 21, 2014, 09:42:35 AM

What does it mean by on-chain and off-chain betting ?

On-chain betting:

Each bet you place is in the form of a Bitcoin transaction. Each bet you win sends you your winnings in a new transaction.

Off-chain betting:

You deposit some coins into an account on a website. You get to make lots of bets on the site without making any more Bitcoin transactions. You have a "balance" on the site which is really just an entry in a database. Then you withdraw your winnings to your wallet.

Pros and cons:

On-chain betting has a public audit trail. You can prove you made each bet.
On-chain betting uses a lot of space on the blockchain. Everyone node has to store every bet forever (or until we invent pruning).
On-chain betting is typically slow, since we need to wait for confirmations to prevent double-spends.

Well put, we'll put this in the FAQ section!

Dear Sir/Madam,

Do you have any vacancies?

I would like to apply for the position of "stupid question answerer" for satoshidice.

lol

That really ins't a stupid question, but there's definitely many that are and need answering.