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Re: Decent.bet online Casino $ Passive Income Model $ Slots $Craps $ Sportsbook
by
BlockHedge
on 17/05/2018, 12:27:40 UTC
Not sure this is really decentralized though, not that I quite care at the moment. Everything I have invested into gambling is sort of centralized anyway.

Looks good by the way, just waiting to try other non-slot games in non-test mode.

Decentralization is a buzz word in crypto.  Each crypto has varying levels of decentralization based off of what is necessary.  Bitcoin is likely the most decentralized because it had no pre-mine, no founder tokens set aside, etc.  Most cryptos are beholden to the developers/programmers anyway, so how truly decentralized are they really?  It is the consensus mechanism that aims to be decentralized.  But let us review a few of the gambling tokens and do a comparison (chart attached at the bottom).

WGR will be a sports betting platform that isn't using Ethereum, but is using a fork of the PIVX blockchain.  They have created oracle masternodes.  For what purpose?  To decentralize the sporting event outcomes.  Each oracle will scrape scores, outcomes, etc from varying sources and the network will reach consensus on each sporting event based on a percentage of oracles agreeing with a certain outcome.  This is a lot of work, for a questionable amount of payoff.  How many sporting outcomes are really being contested?  If a company simply uses standard Las Vegas sporting outcomes, they will be in line with 99.99% of all other outcomes.  Creating their own blockchain and oracle masternodes has a lot of hidden downsides though.  It creates additional work, downtime, wallet creation, etc.

Projects like DBET, FUN & EDG all run on the Ethereum Virtual Machine (EVM).  They do not run their own blockchains, and save that work for the big dogs like Vitalik.  This frees up their time to develop their platforms, market their products, etc.  DBET is the only one of these three that will have a sportsbook in 2018.  The question becomes how decentralized are each of these?  From a token/ownership perspective, DBET is the most decentralized holding the least amount of tokens for the founders/advisors.   But that isn't the most important feature.  If you listen to the DBET CEO & founder Jedidiah Taylor in many of his videos, the most important aspect of decentralization to him is casino ownership.  Understanding that "the house always wins" and that only the rich can create/own/operate a casino, his desire was to allow for an opportunity for the common man to be a part owner of a profitable casino.  100% of the profits of the casino are distributed to the DBET token holders who "lock-up" their tokens in the house each quarter.  The true decentralization is in the ownership & profits. 

Many other cryptos have founders/owners dump the token/coin on their community (Litecoin?) after the value increases.  But if the founders sell off their DBETs, they no longer receive a portion of the profits from their own casino.  Everyone is incentivized to either hold in the house, or gamble with the token in the casino.  There is no other token economic structure like this anywhere else in cyrpto that 1) has a revenue generating income stream, and 2) gives 100% of the profits back to the holders of the token.

Here is a chart comparing the features of: DBET, FUN, WGR & EDG
https://www.reddit.com/r/CryptoCurrency/comments/8icx2u/decentbet_mainnet_release_imminent_any_day_now/
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Re: Decent.bet online Casino $ Passive Income Model $ Slots $Craps $ Sportsbook
by
BlockHedge
on 17/05/2018, 11:59:44 UTC
Can this casino legitimately run without a license, because everything is running based on this DBET token?

Will you have an affiliate program as well?

The DBET team already has one casino license (Dominica), and is applying for others.

Not exactly sure what you mean by affiliate program.  They will offer white label solutions for outside casino operators who want on the platform though.  Each white label is required to purchase 2 million DBETs initially.
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Re: Decent.bet online Casino $ Passive Income Model $ Slots $Craps $ Sportsbook
by
BlockHedge
on 20/04/2018, 13:20:35 UTC
-snip-
Well there is the perk that DBET gives back 100% of Profits quarterly to token holders that lock up their tokens in the house..that is revolutionary  Grin 95% goes to token holders and the other 5% goes to a quarterly lottery! For every 1000 DBET you hold you get a lottery ticket. To make it fair they made it so that you can only have a maximum of 5 lottery tickets. This gives even the smaller DBET holders to have a chance at the lottery.
-snip-


Really interesting concept, just a few quick questions :

May you please explain in short words how to lock up the tokens in the house?
Also where will the eventual profit be sent to?
Lastly, if I got it correctly tokens locked up form the bankroll against which the bettors bet : so there is the chance that token holders may see their share becoming smaller in case of loss?

Sorry if I didn't read all the WP but please bear patience.

The token lock up will happen once per quarter (3 months) as per the whitepaper.  While this could change down the road, where investors have the opportunity to lock in more frequently, that is the current plan.  The first lock up period is tentatively scheduled for 01 MAY 2018.  In order to participate and lock up tokens, you need to download a DBET wallet from the official website here: https://decent.bet/wallet   Currently you can only send DBETs into the house from the actual DBET wallet.  Ledger and/or Trezor integration may happen in the future.

Profits will be sent directly back to the ETH address associated with the DBET wallet from which you sent them.  In the future, there may be an "auto-reinvest" option for ease of use.  Is there a chance that the casino loses money over a 3 month period and investors lose some of their DBETs in the process?  Statistically, it is possible.  Though unlikely.  I consider that quite a low risk, and the more people that are gambling, the lower risk that becomes.
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Re: Decent.bet online Casino $ Passive Income Model $ Slots $Craps $ Sportsbook
by
BlockHedge
on 19/04/2018, 16:13:24 UTC
Many crypto projects claim to be decentralized, but in reality the founders/devs control all major decision making.  DBET appears to me as an online gambling casino where it is a company (actually a charitable organization), that is merely using a crypto token in order to share profits with any/all investors who want to invest in it.  The founders/devs still make all the decisions on the business and strategy, but the profits of the casino go 100% to the holders of the token who lock up their crypto each quarter.  This means that the token itself has a double-utility.  Not only do you need it to actually gamble on the platform, but the investors also need it to make a profit.  The casino founders want to use a blockchain casino to have provable fairness, and so gamblers control their money too, not the casino - which will be the future of online gaming. 

This industry is ripe for disruption because online casino scams are everywhere.  I hope that DBET will lead the way for the future of online blockchain gaming.
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Re: [ANN][ICO] Decent.bet - Decentralized Casino 💲 Passive Income Model
by
BlockHedge
on 25/09/2017, 09:43:39 UTC
I have seen a number of so-called decentralized casinos now, but did not choose to join any ICOs properly due to my lack of understanding about how they all really work. I know from what I have seen is that they all seem to make a lot of money,,, except one or two like Moneypot which was famous but then lost a lot of money when players hit big.

The chance to lose by being the house is very small. But what if this also ends up like Moneypot?

The difference is DBET will give back all the profits to the DBET holders who risk their coin with the casino.  That is impressive.  Of course, the team can't guarantee the house doesn't lose money in any given quarter, therefore do not invest more than you can afford to lose.
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Re: [ANN][ICO] Decent.bet - Decentralized Casino 💲 Passive Income Model
by
BlockHedge
on 23/09/2017, 13:08:27 UTC
I checked your site and can't find any road map and current development stage.

Do you have working software for sportsbetting?

I like the idea of sportbetting competition, but do you really expect to collect 357,000 ETH?! (357,000,000 DBET @ 1 ETH = 1000 DBET)

According to the White Paper, the DBET team will launch at ICO with a working Slot Machine, with Craps being the second game on the platform (no specific timeline given).  As to sports betting, the White Paper reads: The initial offering at launch by Decent.bet is a sport betting platform with multiple sports offerings such as; Baseball, American Football, Basketball, Ice Hockey, Tennis, Soccer and more.  You can read it all here: https://www.decent.bet/whitepaper/

The crowdsale looks to raise $25 million, with each DBET token initially valued at $0.10 and a locked ETH price of $273.60 throughout the sale.  The overall token supply will be 357 million, meaning investors own 70% of all tokens.  Based on that math, the team wants to raise 91,374 ETH during the crowdsale. 

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Re: [ANN][ICO] Decent.bet - Decentralized Casino 💲 Passive Income Model
by
BlockHedge
on 23/09/2017, 12:55:59 UTC
Hi DecentBet team,

I am glad I got in on my first transaction.
However I noticed around 30% of transactions running out of gas...
You could have provided better guidance.

Additionally I noticed that in the dashboard only recently the contract address is displayed after I already purchased the tokens. Are all the other participiants who sent eth whitelisted as well?

Immediately at ICO launch the counter showed a little over 4'000'000$. Where did they come from? They are not in the list of transactions on your contract address.

Thanks for clarifying.


So far their only oversight was not giving out guidance on gas limit and gas price.  I realized that and sent a DM to the CEO on slack and he responded same day.  His guidance was at least 200,000 gas limit (standard for ICOs) and at least 22 gwei gas price. 

The team mentioned that Blockchain Labo would get between $4 - $5 million of the ICO tokens just for their Asian distribution, and that is likely where those ICO funds were immediately accounted for on the website.  I checked the Ethplorer.io and saw a second DBET ethereum address, which is here: https://etherscan.io/address/0x7be601aab2f40cc23653965749b84e5cb8cfda43

That looks to be the amount you are likely referring to.  This team has done a great job with their ICO and their communication to the public in slack, facebook, twitter and YouTube.  I look forward to seeing how their online casino turns out.  They claim to already have a working product (at least a slot machine), so I'm sure we'll see more information in the near future.
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Re: [ANN] QRL : the Quantum Resistant Ledger project
by
BlockHedge
on 06/08/2017, 08:47:50 UTC
So who is still in? Did they kick one of the 3 devs/founders out or not?

All founders are still there, the one retard was kicked for being a rat and nothing else. Just a guy hired to do paper job.


This is accurate.  The dev team hired a social media manager 1 month prior to the pre-sale, and the guy wanted to be a "founder" and control over 30% of the QRL budget, and be paid over $6k a month as well as a huge QRL percentage - all beyond his original agreement.  The dev team tried to compromise with him, but after he didn't get all his demands met he went full FUD mode and caused concern among investors.  The guy was in charge of slack moderation, twitter updates, and blog posts.  The real work is obviously in the code, programming, and vision.  The paper boy was easily replaced.

The best way to handle greed like this is to simply carry on and produce exactly what we all expected in the first place - a quantum resistant ledger with MainNet launch in late SEP / early OCT that meets all expectations.  The GitHub is plentiful, and TestNet is live.  The FUD was a gift for those who wanted to get in cheaper before MainNet, as nothing has changed in regards to the progress or roadmap. 
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Re: [ANN] QRL : the Quantum Resistant Ledger project
by
BlockHedge
on 05/08/2017, 20:49:14 UTC
Looking forward to this TestNet and follow on MainNet launch in a couple months.  Great time to pick up some cheap QRL right now too, now that the BTC-BCC fork is complete and bitcoin has risen sharply. 

I am also very interested to see a PoS coin that has "secure offline staking via deferred stake signatures" as this would give a Quantum Resistant coin maximum security.

Thanks for the update.
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Re: [ANN] (QTUM) - A Scalable PoS Smart Contract Platform - TestNet Live!
by
BlockHedge
on 29/07/2017, 08:25:40 UTC
Energolabs is first ICO on Qtum platform currently accepting btc and qtum token.


http://energolabs.com/#/ico/


Appear that in a few months of development, Qtum is ahead of Neo.  Neo will not have ICO on their platform until either end of 2017 or 2018.

This ICO is just about sold out in 4 days.  Exciting to see different projects moving forward with development onto the Qtum network.
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Re: [HYP] HyperStake | Generous Reward Staking | Advanced Staking Controls & Wallet
by
BlockHedge
on 27/07/2017, 07:56:49 UTC
Guys windows wallet gives me a virus warning ?

I got the same warning, no issue.
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Re: [ANN] (QTUM) - A Scalable PoS Smart Contract Platform - TestNet Live!
by
BlockHedge
on 24/07/2017, 14:47:25 UTC
Announcing the winners of the Distributed 2017 Hackathon in St. Louis:




Winner of the $10,000.00 prize awarded in Qtum tokens:

D-REX (Built on Qtum Testnet)

Portions of this project received funding from the World Bank

Lead Developer: Dev Bharel


D-REX (Distributed Real-time Energy Exchange)

https://devpost.com/software/d-rex


Abstract: Provide a marketplace for financiers and providers to issue and purchase electricity futures. By creating a market for microfinancing generation of electricity we can crowdfund infrastructure to provide electricity for the 1.5 billion people in the world currently without.

User Groups:

Consumers:

Consumers are the people interacting with the electric generators to receive electricity. They spend Solar Tokens using their mobile client (or SMS codes) at generators to pay for electricity in kilowatt hour chunks.
They can also create requests for solar generators in their region, detailing location, wattage usage, reason for electricty need, etc, which can be bid on by providers and funded by financiers.  


Providers:

Providers bid on requests from consumers. They provide bids detailing type of solar energy unit, cost of installation, time for installation, their insurance, etc.

(FUTURE) Need to be verified or have some reputation modeling or have some sort of insurance.


Insurers:

Planned for the future
Insure providers or financiers
Provide derivatives of energy futures. Sell part ownership of many utilities for n time.
Financiers:
Can be large institutions (Royal Bank of Scotland, Deutsche Bank, etc) or anyone with money. Can even be part or fully owned by the community itself.
Get the emotional payout of helping bring electricity to the underprivileged as well as the financial incentive into micro financing infrastructure.  


Specs:

Request:  {
   “Location”: STRING,
   “Creator”: STRING, //address of the owner who submitted the tx
   “WATTAGE_REQ”: INT,
   “REASON”: STRING
}

Bid: {
   “ProviderAddr”: STRING,
   “Unit_type”: STRING,
   “Cost_of_installation”: INT
}

Process:

Consumers make a request for a new generator. They list the location, wattage requirements, reason for request, etc.
Providers look through requests and bid on them. They include the type of generator, cost of installation, time for installation, insurance, etc. This bidding process is open for ONE WEEK. Consumers can then accept one of the bids, at which point...
Financiers bid on consumer accepted requests. This process is open for ONE MONTH. If the request is successfully funded a generator contract is created to represent the pending device.
The Financiers that own the the generator should all call the smart contract and submit their preferred cost for electricity the smart contract should charge. The price is the average of all submitted values weighted by the ownership stake each financier has. If no financier has submitted a price request, then the average is just 0 and the generator runs for free. If only some of the financiers have provided a price, it’s just the average of the ones provided. If you don’t vote, you don’t get a voice and must accept the price set by your co financiers.

The Provider that won the bid then installs the generator in the location specified.
The Consumer that issued the request than approves the installation by instantiating the generator by sending an initial token to it. The first tx MUST be by the Consumer that issued the request. After initialization, the generator can be funded by anyone and used by anyone.

Consumers can then fund the generator get electricity. They pay in solar tokens which are then disbursed to financiers proportionate to their ownership stake in the generator. Consumers can buy these solar tokens from exchanges.
Financiers make money by selling their solar tokens on exchanges to anyone who wants to buy. Solar tokens have a consumptive value on the platform, not just a speculative value, so there’s always a demand.



Tech:

Contracts:

Solar Tokens: ERC 20 token contract. ICO a limited supply of x million .
MarketPlace (split into two sections):
New Generators: Consumers make requests with the given metadata (location, wattage, reason for request, etc). Request is bid on and then awarded.
Old Generators: Financiers can sell all or part of their ownership of their generators or even market futures and based on the generators ownerships they own.

Generators:

Each generator is it’s own smart contract. Issues 10,000 (100.00%) ownership tokens at inception based on proportionate financing.
GetAvg(): read only function that returns the average price of what the generator should charge for electricity.
Status pending until first tx which needs to be done by Consumer who created the initial request.
(Future) Funds set aside for maintenance / some catch for it.  

Stack:

Flask Microservice to interact with Qtum RPC
React front end for UI




Interesting Points:


Very interesting use case for trusted execution environments. Only the solar generator should be able to make its transactions, someone shouldn’t be able to mess with it.
Smart Contracts built with generic “Utility Model”. Crowdfunding electricity now, but could crowdfund any utility (Water Mill, Textile Machines, etc…)
Providers can have radically different ways units and reputation. There should be a insurer for



Congrats to the winners!  Second and third place???
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Re: [ANN] (QTUM) - A Scalable PoS Smart Contract Platform - TestNet Live!
by
BlockHedge
on 22/07/2017, 10:52:57 UTC
Can somebody help me?

I bought qtum in presale via official website  https://qtum.bizhongchou.com/

I want to withdraw them but it says it is not possible yet.
I see that it is already traded on exchanges, so why is it not possible to withdraw tokens?

Thanks

Did you not read the fine print? You can't withdraw till September, though I don't know why you want to withdraw since Qtum is registered as a charity and they've clearly stated on several occasions the tokens are not be considered an investment vehicle. Team Qtum is building their thingy for the betterment of crypto and not interested one iota in lining their pocketbook. Hey, rumor has it that EOS is still looking for some Investard moneys. Check 'em out and report back here once you've donated to their cause as well. Sadly, you may have missed the window of opportunity to invest in ShinCoin by Jeff Ownby, formerly of BFL, but there's always next time.

This Gleb character just doesn't stop with the false statements & innuendos.  Interesting way to spend one's time. 

As another user suggested, you may have missed the email from the Qtum team.  It went to my junk email and I almost deleted it before realizing it was from them.  In that email is a guide to assist with the withdrawal process.  I think they do the withdraws manually and not on the weekends.  My first test withdraw went through successfully and I plan on withdrawing the remainder next week.  There is a helpful guide they sent out, which I linked below.  It takes a bit of clicking around the website for those who don't speak Chinese but using google translate (with Chrome) I was able to figure it out.

Several notes from the Qtum team email:
1) Please visit: https://bizhongchou.com/ instead of: https://qtum.bizhongchou.com/. for withdrawing your Qtum.
2) You can also check your QTUM token balance here: https://bizhongchou.com/account-user_deal.html
3) If you haven't received an email including your new username and new password in the last few weeks, you may need to reset your password here: https://bizhongchou.com/user-getpassword.html

Guide is here: https://qtum.bizhongchou.com/guide.pdf
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Re: [ANN] XtraBYtes - The Proof of Signature Blockchain Revolution
by
BlockHedge
on 21/07/2017, 08:32:28 UTC

He can't ever admit he makes mistakes.  Currently in his view the entire community is wrong on every account and he is perfect.

Bizarrely, the developer and his wife also believe this.

Spot the elephant in the room.

I resigned from the Board as this seemed like it would never change.

It is quite an interesting psychological case study.  Particularly when the success of the project would mean a lot of money for him, how the ego takes over.

I was thinking this same thing.  What an amazing case study on psychology vs behavioral economics.  It is an interesting prisoner's dilemma that node owners find themselves in now.  Here is what I ask myself... if I were evaluating XBY today as a potential investment, would I invest?  Answer - resounding no.  So how could I ethically encourage others to invest in something I myself wouldn't invest in today, even though I hold many XBY?  Do I value my own profits, and encourage a pump so I can sell my bags to others who will then have to put their faith in an egomaniac?  I am not willing to do such a thing. Therefore, I will sell off at the appropriate time.  

The issue is that CCR thinks this is all about trolls of 'his' project.  He has shown his true colors and he isn't ready for prime time in the crypto world.  So from now on, when I'm in other crypto slack channels I won't talk about XBY because it isn't worth the effort, but if anyone asks my opinion on putting any hard earned money into XBY they will receive my unvarnished opinion... as long as CCR has any leadership role, the project is toxic - which is unfortunate because there are so many decent people in there wanting to achieve success despite the dictatorial psychopath.  I wish the best for the XBY community, sorry you have to put up with this guy just for a chance of some new tech.
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Re: COINDASH - Future of trading - Token Sale 17th July 2017
by
BlockHedge
on 19/07/2017, 11:16:57 UTC
The Slack general channel is now back open again.  
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Re: COINDASH - Future of trading - Token Sale 17th July 2017
by
BlockHedge
on 18/07/2017, 14:11:42 UTC
I`m sure that all investors will get their tokens.Does not matter to which address they sent money,if devs are serious with this project,you will get your tokens,and only people who will lose their money are the developers.

Sure, and u found Bamby in the forest.
Is not token, we wanna possibility to choose. Many in the The whitelist wanna back ETH.
many in the blacklist want back ETH too !

Some do want a refund, some do not, but everyone must have a choice and if for whatever reason they do note provide token holders that they are done.

Well you are entitled to your opinion no matter how wrong you might be. 
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Re: COINDASH - Future of trading - Token Sale 17th July 2017
by
BlockHedge
on 18/07/2017, 12:17:18 UTC
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Re: COINDASH - Future of trading - Token Sale 17th July 2017
by
BlockHedge
on 18/07/2017, 10:51:31 UTC
These Whitelist guys are relentless.  I doubt they will get ETH back though.  If CoinDash offered ETH - everybody would request it.  Why?  Because we all know the price of CDT is going to crater as soon as the coins are released and they hit exchanges.  So if a Whitelister really still believes in the team and project (for whatever reason), the smart thing to do is get your ETH back, wait for CDT to be listed and crash, and buy back in on exchanges for 20% (or less) of your original cost.  Then the Coindash team will have the cheapest ICO token, post ICO, in history, AND they will have no money because they refunded all the whitelist ETH.  I'm guessing the CoinDash team doesn't want to kill their project, so I doubt the whitelisters are getting their ETH back.  Sorry guys.  

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Re: COINDASH - Future of trading - Token Sale 17th July 2017
by
BlockHedge
on 17/07/2017, 21:10:05 UTC
I don't know what measure will be taken, but one thing I'm sure: the measures to be taken should be general and not segmented between whtelisters and general investors.

Actually whitelisters and general public invested in different circumstances and got different outcomes so obviously they will be treated differently. Whitelisted people can easily recover their ETH and that is a must. Regular users got scammed badly but I can not Imagine why they sent ETH to the address without even checking if it is a contract on etherscan so this is kind of their fault too. Yes it was on official site. But so were the fake addresses on slac sent by slackbot which is an official channel and some people fell for this and some were smart enough to check.

To be fair to those who sent to the fake address.  It was published on the official site and they didn't want to miss out on the ICO since many have sold out in minutes.  

A solution that might still save this project is to offer 2 options for investors.  
1.  Offer refunds for those on the whitelist first and if there are remaining ETHs left, offer those who sent to the fake address.
2.  Increase the amount of CDT for all those who want to keep their investments.  Use the tokens that were refunded and give those who still
     want to support the project an additional bonus.

The team may end up with zero ETHs from this and more CDTs, but if they truly believe in their own project and work hard for it's success, those additional CDT's will pay off.  Look at projects like Stratis for example.  Turned pennies into dollars.


This type of idea has some merit.  Not sure about issuing additional CDT, but something along these lines could work.
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Re: COINDASH - Future of trading - Token Sale 17th July 2017
by
BlockHedge
on 17/07/2017, 19:53:09 UTC
People who invested through whitelist must have a choice if they want to keep the token or get refunded. If for whatever reason they wont allow this it is 100% scam.

Whitelist. I didn't like this idea from the beginning. In the end, whitelisters served as guinea pigs.

The devs will refund them since the devs have their ETH not the hacker. If they don't then that's just sketchy as fuck

All the Whitelist guys get it, but they don't get it.  If CoinDash allows you to take your ETH back, then EVERYONE will request the ETH back and there will no longer be a CoinDash platform as the team will have no funds to continue.  You are essentially asking them to kill their project, when there is still a chance to save it.  If you were on the Whitelist, you'd think you would care more about the CoinDash project and the team than the average contributor, and you would be more willing to roll the dice with them instead of screaming scam if you aren't immediately refunded ETH.