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Re: [ANN] [ICO] FunFair.io - Disrupting Online Gaming - New Casino Platform
by
SciGuy
on 07/07/2017, 23:00:11 UTC
Just found this gem last night and scooped up some FUN right away and will hold for years.
My only concern is, its built on Ethereum, with their bloated main chain.
LISK would be much better, then FunFair would have it's own blockchain (side chain), unaffected by the constant issues with the Ethereum main chain.

 


Hi Myriad Force,

I presented Jez (the developer) with your question and wanted to relay his response:

Ethereum is the network of choice right now. Not sure lisk would offer us much benefit. Ethereum is a rapidly innovating and well supported network.  The ecosystem is very rich and there's a lot of assets on the blockchain which gives us access to customers who have funds.  And since all tokens are erc-20 compatible, automated exchanging from one token to another is quite trivial and lots of exchanges will support this, as will protocols like 0x etc.  

In short, we get a lot of benefit in being on the ethereum blockchain and although its technically feasible to run on other smart contract enabled blockchains, it still might not be worth doing if the rest of the ecosystem isn't there.


Another quote from him that further elaborates on the benefits of utilizing Eth:

"Sciguy, other reasons.  Winter is coming!  Sorry, i meant, Metropolis.   it brings new features that we really like as well.   like EC math (lets us and other people do zk-Snarks, for good privacy, but more importantly for us, lets us do BLS random numbers (aka herd randomness, ok, I just made that phrase up).  Also, in Metropolis, the contract is able to pay the gas, which further lowers the barrier to entry of new customers playing with FUN for the first time.  ie, their account only needs FUN in it, and doesn't need any Ether as well."

To add to it, in this interview, Jez explains how the only time a customer would wait on the ETH network is at the very beginning when entering the game, so it wouldn't be held hostage to a bloated main chain

https://youtu.be/POpedVl04D4

You or anyone reading this can join the Discord channel to learn more and directly ask questions (Slack is not being used anymore due to a lack of control over scammers).

https://discord.gg/rwETqSP
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Re: [ANN] [ICO] FunFair.io - Disrupting Online Gaming - New Casino Platform
by
SciGuy
on 07/07/2017, 10:05:05 UTC
Thanks SciGuy. I'm interested in this because of Jez and company. Like the venture maxim states, "you invest in people not ideas." New to crypto and completed fascinated and entirely daunted. Prima facie, this looks like a very good long term play.

You may be new to crypto, but I can tell you have a background to move forward in this space... especially if you can appreciate long term play. I imagine short term gains is an all-consuming concept in many minds.

I would like to note that I only discovered FUN one day ago, but I read everything on Reddit, ETHtrader interviews with Jez San, and went through as much of the Slack chat as possible (he posts actively there) where I copied most of his messages in order to have a strong understanding.

I found that the research didn't take long and it allowed me to reduce anxiety and increase confidence (a priceless endeavor)... and also to learn some hidden/quiet information that isn't publicly mentioned.

For example, players in games can be shown their local currencies and not crypto... but they will actually be playing with FUN, it will just show up as fiat.

A quote from Jez discussing what Phase 2 will contain:

Phase 2 (of the games, not of the token sale)... is just a UI change.   there's nothing to stop anyone who's not in crypto from playing this too.   any payment processor (hundreds of them) can offer players to bridge the credit card to crypto chasm.   they can take the player's credit card, buy FUN for them, and let them play the games.   We can show the player their local currency in the games, and not crypto.   they will actually be playing in FUN, but they will be seeing it in FIAT.   Their Payment processor not only buys and sells FUN for them with credit cards... and returns it to the card afterwards... but also looks after their wallet, and uses derivative smart contracts to protect the currency hedge.

A quote regarding token dilution during Phase 2:

Yes, any unsold tokens in phase 2, which is likely if the price has risen from now til that date, will be returned to phase 1 holders.  making it sortof an anti dilution effect
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Re: [ANN] [ICO] FunFair.io - Disrupting Online Gaming - New Casino Platform
by
SciGuy
on 07/07/2017, 09:43:32 UTC
So many casino and gaming coins these days. Could you point out the difference between them and yours?

Far faster than any casino/gaming coin on the market. It uses fate channels and acts a bit like Raiden but more specialized and actually better in some ways (amazing that this technology is quietly tucked in FUN when Raiden isn't even close to being completed).  The speed is crucial for a good game experience.

Created by a legend in video games and online casinos, so the games themselves look wonderful and offer the same user experience as traditional online casinos.
 
Transaction fee only occurs when you enter and exit, but not during the game, so you can play hundreds of hands of blackjack (hours) for example, and pay the same gas costs as one hand or spin with other company's games.

Your money stays with YOU. It does not go to the casino or anywhere else. You start with the money, you end with your money.

The platform allows for private label casinos, and also for people to develop their own games on top of FUN... so it is not limited to what the developers of FUN create.

I could go on and on and on.

Edit: I actually will go on a little bit more Cheesy

Quote from the developer:

We have significant advantages over our peers.  1.  we're experienced at both games development and online gaming.  2.  we know the casino games industry having worked in it for a decade.  3.  we have superior tech to anyone else, and a lot more tech coming thats quite groundbreaking.  no one else, as yet, can deliver games at low cost except FF, a big deal and not to be underplayed!  4.  we know how to make games.  few others seem to know.   5.  we're building an entire suite of games for launch (no one else seems to have more than one or at most two games, and theyre low quality).  6.  We have a developer and licensed operator model which is infinitely more scalable than the other guys, who are trying to market themselves.



FunFair current total valuation is currently priced shy of half a Billion Dollars
Total Supply will be 17 Billion Tokens.

I understand FunFair will burn tokens in the future but is this valuation insane or what?


They may burn tokens or they may give those tokens to Phase I token holders to increase value. But yes, tokens will be burned from transactional fees.  Jez Sans the developer does not believe it will reach 17 billion tokens anyways.  At the moment 3 billion in circulation is what should be used for estimation, but that should be considered with the value increasing plans.


Total supply is very large, it is difficult to bring prices up

Will be easier than you think, albeit gradual and controlled (healthy). You may want to do more research into the Reverse Dutch auction, burning of the tokens and giving back tokens from Phase 2 to the Phase 1 token holders. I suggest you join the FUN slack channel, then search for keywords.


Why is the price is so hard falling? Someone will tell me what's going on, after all, it looks like a total scam. Sad look at what's going on ...  Roll Eyes Huh Undecided

Quite normal actually for an ICO or when added to an exchange. In fact I would be concerned if it not behave in this exact way. Quite healthy.

Any plans on making a Baccarat game for this?

Yes, they plan to release at least two games per month. Their goal was to aim for the most popular games in actual casinos, then work their way down. In western casinos, slots account for 70%, followed by Baccarat, and so forth.  In the East, Baccarat is #1... so the plan is to address them in a "most demanded" fashion.

PEOPLE MAKE FIRST ICO THEN PRODUCT (MAYBE)

CART IN FRONT HORSE...

HORSE PUSH WITH HEAD, GET HEADACHE, LEAVE CART

 Huh Roll Eyes Huh


What is refreshing about FUN, is that it is one of the only projects that actually has the horse before the cart. Games have already been developed and is the first real use case for ETH smart contracts. I think it is great that the developer can show actual games and how it works right now (not theoretical or in the future, but now).

A quote from Jez that shows just one example of the horse before the cart:

We stayed in stealth mode while we were developing the advanced technology that has set us ahead of everyone else.  we didnt intend to be so quiet, but we also didnt want to reveal the cool technology we had, too much ahead of our pre-sale, because we wanted to ensure we had a huge head start over the competition.  no one else seems to have, as yet, this high performance, low gas tech.. though they all covet it.



This Project is being Developed by one of the best teams I've ever seen.

Agreed. People should read a bit more about Jez San.

The story of how he reverse engineered a Nintendo Gameboy without Nintendo's help, then impressed them so much that he met Hiroshi Yamauchi (the President of Nintendo), then worked for him on 3D games... is pretty amazing I think.

If anyone wants to read that story, it is half way down this article:
https://calvinayre.com/2014/07/30/business/jez-san-gaming-industry-profiles-bl-video/

Also here is a wikipedia on him:
https://en.wikipedia.org/wiki/Jez_San
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Re: Tau-Chain and Agoras Official Thread: Generalized P2P Network
by
SciGuy
on 30/06/2017, 19:09:24 UTC
Bounty program available?

every significant support is bounty-able Smiley

and regarding price doubling next month, after more discussions and thought, we consider making it x4 rather x2. more to come

More great news for early investors, i love read anoucements like this 😄. 4X is only the begining. But one question, when you release the whitepaper and the alfa core you burn all agoras unsolded? Or we must wait another data for that.?




no, and quite the contrary. the plan is to have majority (or nearly majority) of the coins to be sold after tau is ready and before agoras is ready (which is the moment when unsold coins will be burnt). we'll try to adjust it to happen by price raises (i.e. to avoid selling nearly majority of the coins beforehand)

I found a post where Ohad talks about unsold coins being burnt. Is this what you were referring to Goblinman?
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Re: Tau-Chain and Agoras Official Thread: Generalized P2P Network
by
SciGuy
on 30/06/2017, 18:59:33 UTC

where is this information from? everywhere i have read says on 1st July he will destroy the remaining tokens past 60% of the token in circulation which has already been sold it seems, according to his previous posts? so if he has already sold the 60% tokens that wont be destroyed...any tokens we may buy now are going to be destroyed are they not? and there is talk of sending them to him to 'lock them' from being destroyed if you were in the first 60% tokens buyers?

it is completely confusing and unclear.

Ohad please explain?

Is there a post of his where he says he will destroy the remaining tokens (past 60%) ? There are so many pages to this thread, so I'm having  a hard time wading through them all.
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Re: Tau-Chain and Agoras Official Thread: Generalized P2P Network
by
SciGuy
on 30/06/2017, 14:57:51 UTC
[quote =Statdude]

In my mind, just that Agoras has been in accumulation for a long time due to lack of "catalyst" (news) to push it over the edge, although it was slowly "getting there".

Now, with end of crowdsale and a platform this year, the "goal" is in sight, and everyone wants in, of course (myself included.) An order of magnitude increase (at minimum) is a good rule of thumb target for situations like these. 100x would be the next and 1000x + not out of picture for a project with this level of ambition (arguably the greatest in crypto) if it succeeds.

Here is a photo of the funding address over the last 24 hours. As far as I know it is still open try and send funds.

http://i.imgur.com/tYHddZc.png
[/quote]

Thank you for the reply and the link. I purchased from bittrex already because I was under the assumption that Ohad was only accepting larger orders.

Is the price cheaper directly through him? I couldn't see any prices on that image.
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Re: Tau-Chain and Agoras Official Thread: Generalized P2P Network
by
SciGuy
on 30/06/2017, 14:32:13 UTC
Quote from: Statdude

Both good suggestions. I am also very confused at this 60% limit, as I thought the goal was to sell as much AGRS as possible this month until July 1, then focus on development. The pump is a bit premature, although sure, as of tomorrow, the price should indeed go up and hold 10x + once the sale is over.

If I was Ohad, I would consider a decision and clear up the situation today (perhaps ending sale immediately and refunding all further BTC). But don't leave those of us who sent in the cold, as it may leave a bad taste for the project. I was planning on buying the last day, because I was using the funds elsewhere, so I didn't send funds earlier until I realized the flood of BTC flowing in, and I never clearly noticed a 60% limit for June. I don't remember seeing a plan to "hold" 40% until now for future funding, not that it is a bad idea.

Anyways, I sent btc, so perhaps I'm biased Smiley I agree this pump has made things a bit perplexing.

I am wondering how the 10x price estimate is being derived. I am hearing that from multiple people but was wondering what rough estimate is being used to get to a 10x value.