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Bitcoin's and the future of online banking - Page 8

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brambolius   Netherlands. Apr 17 2013 13:23. Posts 1708


  On April 17 2013 10:35 NMcNasty wrote:
"Well, I'm sure bitcoin prices couldn't have changed too much from 2009. I guess I'll order this 8 bitcoin pizza." (Its $700)



loled

Heat......EXTEND 

whamm!   Albania. Apr 18 2013 11:29. Posts 11625

Sorry folks, gg?
Wow bitcoin you suck, could have been something really great.


http://thenextweb.com/insider/2013/04...n-funds-to-users/?utm_campaign=social media


teej1985    United Kingdom. Apr 18 2013 19:00. Posts 716

Up to over 100 now so that hasn't had any effect on the price

fuck mee... fuck U! 

Ket    United Kingdom. Apr 18 2013 19:37. Posts 8665


  On April 18 2013 10:29 whamm! wrote:
Sorry folks, gg?
Wow bitcoin you suck, could have been something really great.


http://thenextweb.com/insider/2013/04...n-funds-to-users/?utm_campaign=social media


im not exactly number 1 bitcoin believer but i think it's a bit blowing out of proportion to say gg bitcoin cause some tiny exchange site shut down? That's like saying gg online poker upon hearing the news "reefer poker.com" ceased operations.

(note: just used reefer poker as an example of some obscure small site to illustrate the point, that i once heard of years ago. apparently it's actually still around...)

 Last edit: 18/04/2013 19:39

Emi   France. Apr 26 2013 12:00. Posts 280

Hello guys I am uping this just to let you know I created a bitcoin trading / gambling business based on the price of bitcoin.

We are way above our expectation in term of users and volume for the first day so thats great

So far we are offering great odds so I believe betting could often be very EV+ for players when the market condition are good

http://btcoracle.com/

hello worldLast edit: 26/04/2013 12:02

brambolius   Netherlands. Apr 27 2013 13:07. Posts 1708

what's the rake

Heat......EXTEND 

Emi   France. Apr 27 2013 14:37. Posts 280

There is no "rake". The odd we offer are what you get paid.

Just, we have a mathematical formula that will make the odds evolve to converge towards "fair odds" or so. So far we did put the odds pretty randomly so we might be looser.

Anyway our formulas are set so what we payout will converge between 95% and 99% on each bets

hello world 

thewh00sel    United States. Apr 27 2013 14:47. Posts 2733

isnt this just satoshi dice?
edit: oh nevermind I see it's betting futures laying 5%

A government is the most dangerous threat to man’s rights: it holds a legal monopoly on the use of physical force against legally disarmed victims. - Ayn RandLast edit: 27/04/2013 14:50

devon06atX   Canada. Apr 27 2013 14:56. Posts 5435


  On April 27 2013 12:07 brambolius wrote:
what's the rake

Apparently 1-5%

 Last edit: 27/04/2013 14:58

Emi   France. Apr 27 2013 23:03. Posts 280

Well we have been really inspired by satoshi dice. The idea of betting directly into the blockchain is just great : no account, no registration, just nothing but pure instant betting into an address.

And the odds offered can be better if you want to do short term trading than 1 paying the spread on the exchange + the fee. Just now there is only one "time frame" offered but very soon we will have 1 day, 2 day, one week etc.

The spread is often 5% on the bitcoin world, so...

So far thats beta, we will have a lot of others features and bet later

That was really just a test, but we have been so successful that we are now working on this project 100% of our time or so :D

hello worldLast edit: 27/04/2013 23:10

Emi   France. Apr 27 2013 23:05. Posts 280

--

hello worldLast edit: 28/04/2013 23:23

Funktion   Australia. Apr 28 2013 08:00. Posts 1638


  On April 27 2013 22:05 Emi wrote:
The really funny thing is so far the betters have been really bad


Sounds hilarious for the people who have lost bets so far.

"Here is the gambling platform I'm selling, lose and I'll tell you how bad you are and laugh at you" quite the salesman.


devon06atX   Canada. Apr 28 2013 11:22. Posts 5435

No kidding - but CLEARLY us 'savvy poker players' will bet better and beat the 5% rake!


Emi   France. Apr 28 2013 23:08. Posts 280

Hello,

I think I expressed myself in a incorrect way as I did not meant to be insulting.
I am sorry to anyone that felt offended, and we really truly appreciate that people have tried our service.

I am myself a poker player & a casual gambler and I understand the thrill of gambling and how one can feel after a loss.

I cant sayh enough how i am thankful that our service is used, and I ll pay many beer to anyone that helped us by using our service if I meet them.

I truly believe that predicting short term financial variations is almost truly random, so in no way am I surprise that so far our users seemed to have failed at it. I dont think I could do any better.

Saying "bad" should have been "so far no working pattern seems to have been found which exploit our betting system", which was one of our fear going into this business.

But to be honnest, I dont really know. So for me this is a social experiment as well, I dont know where we are going with this and how this will work out.

PS : the rake is more like 2.5%, assuming the odds are 1:2.
1 : 1.95 is equal to a EV of 97.5%.
I think thats fair for a totally experimental business where we make odds blindly on a concept that we dont know yet if it could be exploited or not

Cheers & love

hello worldLast edit: 28/04/2013 23:47

Emi   France. Apr 28 2013 23:30. Posts 280

To make amends I'll send 0.01 btc to anyone that will bet days and send me his address in PM.

You can minbet thats totally fine so thats 50% ROI on a bet.

regards

hello worldLast edit: 29/04/2013 00:26

NewbSaibot   United States. Apr 28 2013 23:34. Posts 4904

reefer poker... heh

listening to edzwoo has made u a nit... *sigh* - Zalfor 

Emi   France. Apr 28 2013 23:36. Posts 280

I dont understand what you mean... I am french sorry btw we used to play together nl 50 on stars

hello world 

Funktion   Australia. May 01 2013 01:43. Posts 1638

Apology accepted for being French.


R.Hood   Poland. May 01 2013 04:14. Posts 13

Lol @ the rake


TianYuan    Korea (South). May 02 2013 04:26. Posts 6810


  On April 28 2013 22:36 Emi wrote:
I dont understand what you mean... I am french sorry btw we used to play together nl 50 on stars


From Ket's post (reefer poker was an example he used of a small poker site).

Hm.. Off-suite socks.. 

 
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