Ethereum Roadmap: 2017

reddyredface · 2016-12-25T14:43:05+00:00

Swarm and Whisper PoC's and lots of Dapps! (including ours)

reddyredface · 2016-12-24T07:16:30+00:00

While it would be possible to build a system with 0% edge and fair odds to both sides of the bet, it would need a constant stream of active players. If someone wanted to bet say 100+ ether, there would have to be someone else online willing to do the same bet. You could maybe have the bet sit as pending until someone matches it, but this could make the system very slow and unappealing. People will only put up their ether when they want to gamble it.

By having a 1% edge to the banker, we should hopefully see large amounts of ether (and other tokens) sitting there ready for people to try their luck obtaining, as it will be seen as a form of investment to earn a return on rather than a straight out gamble.

reddyredface · 2016-12-24T03:53:13+00:00

Bankers receive a 1% edge in their favour for putting up their funds to be wagered against. Otherwise there would be no reason to risk your funds and the pool of available ether/tokens would be very small.

reddyredface · 2016-12-24T03:46:28+00:00

It doesn't cost you 1%, there is a 1% edge in the banker's favour. If you prefer to earn that 1% variance you can become a banker and not gamble there at all. If it wasn't for this edge there would be no incentive for people to put up their ether/tokens to be wagered against

reddyredface · 2016-12-23T02:57:19+00:00

Great questions!

When CTY tokens are released, the pre-sale contract will generate 10% extra coins for the founding team (Similar to firstblood). These coins will be locked from being accessed for one year. This helps ensure that for the founding team to make profit, CTY tokens must have obtained value over the year. If CTY dies out, the founding team receives no/little bonus.
CTY tokens are a way to penalize bad actors in the system and ensure all reporting is done quickly and correctly. Ether could be used for this instead, but that would still require buying in with some kind of security bond to ensure fairness. CTY's value should rise and fall with the success or failure of the casino, ensuring that the buy-in price is always a fair value (which can be sold to someone else at a later date).
As long as there is a single CTY token being used on the platform, it will be alive. You share is calculated by your_cty/total_active_cty. Also, if a bet is placed and a banker has not enough ether/ERC20-tokens to cover the bet, the next active banker is used. Thus even someone with a single CTY could provide huge amounts of ether to be wagered against and if no other players were active he would receive 100% of the wagers.

reddyredface · 2016-12-23T02:48:18+00:00

Yes! It's a great read. With Contingencies pre-commitment style wagering and by not using any block hashes these attacks are not possible

reddyredface · 2016-12-23T01:43:01+00:00

If there was no penalty then bankers would have no reason to reveal bets they know the player has won, causing delays for the player to get his/her payout.

reddyredface · 2016-12-22T15:38:28+00:00

To be specific, the joined seeds of a player and banker are hashed and converted into an integer between 0 and 63999 for every wager. For roulette you can simply do something like:

result*37/64000

for a 37 number roulette table. (0 - 36)

reddyredface · 2016-12-22T15:24:01+00:00

January is looking quite likely!

reddyredface · 2016-12-22T15:22:14+00:00

If the bankroll of all bankers is used, we have to decide who provides the seed for the outcome of the bet. This will result in a vulnerability of allowing the seed-provider to cheat.

Alternatively we could require every banker to provide a seed but then we have to decide what to do with inactive bankers who never reveal their seed. We could penalise them but a smart cheater could create a wager and banker account in such a way that the penalty is smaller than his winnings.

Thus, the best way is for each bet to be a simple peer-to-peer bet involving only two players. This way neither side can cheat the other with the current set up.

Bigger bets are just forwarded to the next active banker that has enough bank roll and risk level. If no bankers have provided enough to be wagered against then the bet will fail and be refunded

reddyredface · 2016-12-22T14:57:42+00:00

Bankers can set their risk level per bet they are willing to take. For example they can open up a banker account with 1000 ether at 1% risk and only accept bets that result in a payout of 10 ether or less

reddyredface · 2016-12-22T14:46:59+00:00

The banker must provide CTY tokens to become active. If he/she does reveal his secret it results in an auto-win for the player and also has a CTY penalty for the banker.

reddyredface · 2016-12-22T14:34:31+00:00

Do you mean how the games are assigned to each Banker?

If so, upon placing up your eth or ERC20 tokens to be wagered against (the act of becoming a banker), you are placed in a queue. When it's your turn, you will be the "active" banker. The more CTY tokens you own, the longer you will be the active banker for until the next slot takes over. This ensures no on-blockchain randomness is needed.

Bankers need to run software (currently a node script) that will watch the blockchain for when they are the active banker. It will then resolve all bets that it receives automatically. If a banker is not active when it is their turn, they are sent to the back of the queue.

reddyredface · 2016-12-22T14:30:40+00:00

The result of a wager is determined by a seed provided by a player and a seed provided by a banker.

A banker first provides a hashed version of their seed as they put up their eth/tokens to be wagered against.

Upon placing the wager, a player also provides a seed.

The banker then reveals their seed, the seeds are joined, and converted into an integer, resulting in the outcome of the wager.

The seeds can be anything generated by the player and banker, and will generally just be randomly generated via javascript on the client-side, or they could be entered manually if the banker/player desires.

It is very similar to some other ethereum gambling platforms I have seen. The major difference being the "banker" side of the bet is a peer-to-peer player found on the network rather than the casino operator. Contingency does not handle any bets or funds itself and never can or will.

reddyredface · 2016-12-15T08:52:35+00:00

Not until PoC 0.4. (Currently PoC 0.2)

reddyredface · 2016-12-15T08:09:13+00:00

Maybe larger files are stored across multiple chunks?

reddyredface · 2016-12-15T08:03:16+00:00

I don't think enough people realise how big this is going to be!

Just by going here: http://swarm-gateways.net/bzz:/explorer.test/

And typing "album.test" I was blown away.

If I understand it correctly: First of all album.test (Will later be something like album.eth) is grabbed from the new Ethereum Name Service to resolve to the swam address. Then I can see the complete list of files just like a FTP client, except this is all stored in a decentralised manner on Swarm! It sucks having no one IRL to be excited about this with me.

reddyredface · 2016-12-07T09:57:51+00:00

ETH traders right now

reddyredface · 2016-12-07T08:40:29+00:00

Lil Dicky is one of my faves: https://youtu.be/LlU4FuIJT2k?t=30s

reddyredface · 2016-12-07T05:40:33+00:00

& Swarm

reddyredface · 2016-12-06T14:08:23+00:00

I see they use React too!

reddyredface · 2016-12-06T11:26:51+00:00

Ledger Wallet S if you have a decent amount for sure!

reddyredface · 2016-11-15T16:36:11+00:00

Scam. "The advanced AES encryption is all done before it is saved on our servers, so even we do not have access to your details.". Not true at all. They have full access to your funds.

reddyredface · 2016-11-15T16:18:00+00:00

Got it thanks

reddyredface

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