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Privatebet - fully decentralized peer to peer betting
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jl777

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Privatebet - fully decentralized peer to peer betting
« on: June 25, 2014, 04:22:51 am »

Now that I have solved some of the privacy issues, it seems like a good time to introduce Privatebet.
Privatebet is what is sounds like, it allows you to make bets directly with someone else. For events with publicly verifiable results, there will be a decentralized mechanism for the payouts. You can even create one shot bets based on anything you can think of, but for this you would need to get someone to agree to be your arbiter in case both parties cant agree as to what the result is.

The GUI will be integrated into the enhanced NXTservices GUI, so it will be familiar and easy to use.

Not sure if the first version can be fully integrated with InstantDEX, but longer term that is the plan so that bets can be made/updated in near realtime

James

Privatebet acct: NXT-ZGGJ-5G8H-K24Y-3BD8S
« Last Edit: September 27, 2014, 11:07:49 pm by jl777 »
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jl777

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Re: Privatebet - fully decentralized peer to peer betting
« Reply #1 on: July 10, 2014, 09:00:40 pm »

Now that I have solved some of the privacy issues, it seems like a good time to introduce Privatebet.
Privatebet is what is sounds like, it allows you to make bets directly with someone else. For events with publicly verifiable results, there will be a decentralized mechanism for the payouts. You can even create one shot bets based on anything you can think of, but for this you would need to get someone to agree to be your arbiter in case both parties cant agree as to what the result is.

The GUI will be integrated into the enhanced NXTservices GUI, so it will be familiar and easy to use.

Not sure if the first version can be fully integrated with InstantDEX, but longer term that is the plan so that bets can be made/updated in near realtime

James
The Privatebet Team is assembled now with: longzai doing the GUI, l8orre doing API, rdanneskjoldr the user experience design and I will do the secret-sauce stuff.

Current goal is to get testnet version to alpha release in August. The project is not needing of any funds so we are not inclined to make AE sales, but if you are interested in private purchase, send me private message about Privatebet.

James
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allwelder

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Re: Privatebet - fully decentralized peer to peer betting
« Reply #2 on: August 04, 2014, 08:28:48 am »

wow,great,waiting for bet. ;D
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Perado

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Re: Privatebet - fully decentralized peer to peer betting
« Reply #3 on: August 13, 2014, 03:41:32 pm »

What about now? ;D
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jl777

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Re: Privatebet - fully decentralized peer to peer betting
« Reply #4 on: September 06, 2014, 04:49:15 am »

Recently Privatebet won an auction from Come-from-Beyond for a way to obtain provably random numbers from the NXT blockchain. The initial vehicle for this tech will be within the neoDICE asset, which is based on the satoshi dice game. This asset will payout 100% of revenues in dividends. The reason this is possible is that the dev who is implementing the neoDICE will have a significant percentage. So, the asset represents a slightly higher return for purchasers than the actual dev who is doing the work and maintaining the servers. First version will probably use just a few redundant servers, but after discussions with Come-from-Beyond, I think it is possible to fully decentralize the entire neoDICE, but any such Version 2.0 will be something for next year.

I will be encapsulating this provable random distribution of numbers into the SuperNET API and this will solve one of the thorny issues when it comes to making any type of casino game, eg. cards, slots, etc. So, with this API call, if there was a nice GUI and game play for a game, we have a very nice combination. Most of you probably know by now that I dont do GUI.

So, the plan is the following:

1. Select dev for a particular casino game
2. Issue asset to dev 10% to 40% depending on how much capital is needed
3. 50% of the asset goes to Privatebet, 10% to JLH and if capital is needed up to 30% to NXTventure
4. When the game is in beta and completion is virtually certain, NXTventure or the dev will make some available for sale
4b. In the event NXTventure provided capital, enough assets are sold to at least recoup the amount invested and the balance is distributed as dividends to the NXTventure asset holders.

At the end of this process, Privatebet has a new casino game asset providing 50% of its revenues
NXTventure asset holders get some nice dividend or the dev is making some initial sales, or a bit of both
the dev will now have a way to get some cash when needed just by selling a bit off via NXT AE
JLH gets its customary 10%

The games will generally have exclusive for its category, but there might be some exceptions on a case by case basis
All the standard and non-standard games will be considered. Also any unique game of chance is of course always welcomed.

noashh will post an email address for submitting applications.

James

P.S. SuperNET will of course consider partnering with companies on these type of terms. PM me if you are decision maker for such a company
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jefdiesel

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Re: Privatebet - fully decentralized peer to peer betting
« Reply #5 on: September 06, 2014, 06:04:43 am »

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tersagun

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Re: Privatebet - fully decentralized peer to peer betting
« Reply #6 on: September 06, 2014, 09:38:52 am »

Nice update James.
Lets see how many devs we are going to find for different games.

But I'm still wondering how the outcomes/winners will be determined in a decentralized way.
In the custom betting section I mean.

Will,there be some kind of a multi-sig committee or so?
Sent from my Lumia using Tapatalk
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jl777

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Re: Privatebet - fully decentralized peer to peer betting
« Reply #7 on: September 06, 2014, 10:02:03 am »

Nice update James.
Lets see how many devs we are going to find for different games.

But I'm still wondering how the outcomes/winners will be determined in a decentralized way.
In the custom betting section I mean.

Will,there be some kind of a multi-sig committee or so?
Sent from my Lumia using Tapatalk
I paid 200,000 NXT to find out how.
If you want to know, I will let you after your payment :)
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tersagun

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Re: Privatebet - fully decentralized peer to peer betting
« Reply #8 on: September 06, 2014, 11:10:06 am »

Guess I'll wait for the Christmas sale ;-)
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costa2439

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Re: Privatebet - fully decentralized peer to peer betting
« Reply #9 on: September 07, 2014, 12:39:57 am »

this company sells software around 5000 €, it may be interesting.
http://www.x2gaming.com/

Regards
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altcoinherald

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Re: Privatebet - fully decentralized peer to peer betting
« Reply #10 on: September 08, 2014, 02:03:09 pm »

It sounds like an interesting project! I'll be sure to keep an eye on it!

NotSure

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Re: Privatebet - fully decentralized peer to peer betting
« Reply #11 on: September 19, 2014, 09:05:41 am »

I'm eagerly following this ! There is a HUUUGE market and NXT seems to be perfectly fitted to take his share :)
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jl777

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Re: Privatebet - fully decentralized peer to peer betting
« Reply #12 on: September 27, 2014, 11:26:17 pm »

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kodtycoon

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Re: Privatebet - fully decentralized peer to peer betting
« Reply #13 on: September 28, 2014, 12:17:41 am »

Nice update James.
Lets see how many devs we are going to find for different games.

But I'm still wondering how the outcomes/winners will be determined in a decentralized way.
In the custom betting section I mean.

Will,there be some kind of a multi-sig committee or so?
Sent from my Lumia using Tapatalk
I paid 200,000 NXT to find out how.
If you want to know, I will let you after your payment :)

you actually had to pay off a dev to find out how to do something? seriously? and they say cfb isnt driven by money.. pfft. that is obviously useful info that devs could use to build stuff and instead of just releasing it he is auctioning off the info? im actually shocked at that.. and disappointed..
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TwinWinNerD

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Re: Privatebet - fully decentralized peer to peer betting
« Reply #14 on: September 28, 2014, 12:20:07 am »

Nice update James.
Lets see how many devs we are going to find for different games.

But I'm still wondering how the outcomes/winners will be determined in a decentralized way.
In the custom betting section I mean.

Will,there be some kind of a multi-sig committee or so?
Sent from my Lumia using Tapatalk
I paid 200,000 NXT to find out how.
If you want to know, I will let you after your payment :)

you actually had to pay off a dev to find out how to do something? seriously? and they say cfb isnt driven by money.. pfft. that is obviously useful info that devs could use to build stuff and instead of just releasing it he is auctioning off the info? im actually shocked at that.. and disappointed..

This isn't core software related. He figured out something very valuable for a 3rd party software that can't be used in core, why no sell it, to make sure it will be used?

PS: read this before writing such harsh words.

kodtycoon

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Re: Privatebet - fully decentralized peer to peer betting
« Reply #15 on: September 28, 2014, 12:32:19 am »

Nice update James.
Lets see how many devs we are going to find for different games.

But I'm still wondering how the outcomes/winners will be determined in a decentralized way.
In the custom betting section I mean.

Will,there be some kind of a multi-sig committee or so?
Sent from my Lumia using Tapatalk
I paid 200,000 NXT to find out how.
If you want to know, I will let you after your payment :)

you actually had to pay off a dev to find out how to do something? seriously? and they say cfb isnt driven by money.. pfft. that is obviously useful info that devs could use to build stuff and instead of just releasing it he is auctioning off the info? im actually shocked at that.. and disappointed..

This isn't core software related. He figured out something very valuable for a 3rd party software that can't be used in core, why no sell it, to make sure it will be used?

PS: read this before writing such harsh words.
Ah ok.. I take it back then :) sorry for doubting you cfb. so does this make nxt dice far superior(faster) than all other blockchain based dice games?
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TwinWinNerD

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Re: Privatebet - fully decentralized peer to peer betting
« Reply #16 on: September 28, 2014, 12:34:51 am »

Nice update James.
Lets see how many devs we are going to find for different games.

But I'm still wondering how the outcomes/winners will be determined in a decentralized way.
In the custom betting section I mean.

Will,there be some kind of a multi-sig committee or so?
Sent from my Lumia using Tapatalk
I paid 200,000 NXT to find out how.
If you want to know, I will let you after your payment :)

you actually had to pay off a dev to find out how to do something? seriously? and they say cfb isnt driven by money.. pfft. that is obviously useful info that devs could use to build stuff and instead of just releasing it he is auctioning off the info? im actually shocked at that.. and disappointed..

This isn't core software related. He figured out something very valuable for a 3rd party software that can't be used in core, why no sell it, to make sure it will be used?

PS: read this before writing such harsh words.
Ah ok.. I take it back then :) so does this make nxt dice far superior(faster) than all other blockchain based dice games?

Yes.

It basically takes the transaction id (?) of the bet once it is broadcasted and the uses the secret hash to confirm the bet.

(I don't fully understand, how this system can guarantee, that the transaction will be really included into a block)

kodtycoon

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Re: Privatebet - fully decentralized peer to peer betting
« Reply #17 on: September 28, 2014, 12:42:34 am »

Nice update James.
Lets see how many devs we are going to find for different games.

But I'm still wondering how the outcomes/winners will be determined in a decentralized way.
In the custom betting section I mean.

Will,there be some kind of a multi-sig committee or so?
Sent from my Lumia using Tapatalk
I paid 200,000 NXT to find out how.
If you want to know, I will let you after your payment :)

you actually had to pay off a dev to find out how to do something? seriously? and they say cfb isnt driven by money.. pfft. that is obviously useful info that devs could use to build stuff and instead of just releasing it he is auctioning off the info? im actually shocked at that.. and disappointed..

This isn't core software related. He figured out something very valuable for a 3rd party software that can't be used in core, why no sell it, to make sure it will be used?

PS: read this before writing such harsh words.
Ah ok.. I take it back then :) so does this make nxt dice far superior(faster) than all other blockchain based dice games?

Yes.

It basically takes the transaction id (?) of the bet once it is broadcasted and the uses the secret hash to confirm the bet.

(I don't fully understand, how this system can guarantee, that the transaction will be really included into a block)
I'm sure that information would ve highly valuable to many third parties and just just betting/dice right? Can't think of anything else :D what about nxt poker? Or was it an exclusive rights to the info kinda deal?
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jl777

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Re: Privatebet - fully decentralized peer to peer betting
« Reply #18 on: September 28, 2014, 12:53:08 am »

Nice update James.
Lets see how many devs we are going to find for different games.

But I'm still wondering how the outcomes/winners will be determined in a decentralized way.
In the custom betting section I mean.

Will,there be some kind of a multi-sig committee or so?
Sent from my Lumia using Tapatalk
I paid 200,000 NXT to find out how.
If you want to know, I will let you after your payment :)

you actually had to pay off a dev to find out how to do something? seriously? and they say cfb isnt driven by money.. pfft. that is obviously useful info that devs could use to build stuff and instead of just releasing it he is auctioning off the info? im actually shocked at that.. and disappointed..
I was happy to pay and support CfB. Strange you think he should work forever for free. I am disappointed that you are shocked

James
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jl777

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Re: Privatebet - fully decentralized peer to peer betting
« Reply #19 on: September 28, 2014, 12:54:22 am »

Nice update James.
Lets see how many devs we are going to find for different games.

But I'm still wondering how the outcomes/winners will be determined in a decentralized way.
In the custom betting section I mean.

Will,there be some kind of a multi-sig committee or so?
Sent from my Lumia using Tapatalk
I paid 200,000 NXT to find out how.
If you want to know, I will let you after your payment :)

you actually had to pay off a dev to find out how to do something? seriously? and they say cfb isnt driven by money.. pfft. that is obviously useful info that devs could use to build stuff and instead of just releasing it he is auctioning off the info? im actually shocked at that.. and disappointed..

This isn't core software related. He figured out something very valuable for a 3rd party software that can't be used in core, why no sell it, to make sure it will be used?

PS: read this before writing such harsh words.
Ah ok.. I take it back then :) so does this make nxt dice far superior(faster) than all other blockchain based dice games?

Yes.

It basically takes the transaction id (?) of the bet once it is broadcasted and the uses the secret hash to confirm the bet.

(I don't fully understand, how this system can guarantee, that the transaction will be really included into a block)
I'm sure that information would ve highly valuable to many third parties and just just betting/dice right? Can't think of anything else :D what about nxt poker? Or was it an exclusive rights to the info kinda deal?
I plan to make a provable decentralized random number generator as part of SuperNET API

James
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