16 sats \ 8 replies \ @Bitcoinisawesome 29 Feb \ parent \ on: Triible - World's First-Ever Native Lightning Parimutuel Betting Platform lightning
And poker. Lightning will be amazing for online poker and will be one of the first non-bitcoin industries to adopt LN en masse, I think. Bitcoins on chain payment rails are already being used industry wide. I don’t doubt online poker alone has created bitcoiners. Business and consumer are both crazy incentivized to use lighting. Only a matter of time.
Poker is still a better application than sports betting because it does not require a third party to hold your funds. You can play directly from your own wallet, and you only need to trust the custodian for the duration of each game. This makes it a more secure and convenient option for gambling.
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one day I hope to make bitvm poker so you don't even need a custodian to hold your funds during the game
Bitvm tic tac toe works in on-chain mode...but only if you win with a row, I haven't programmed bitcoin to understand columns and diagonals yet
I am currently working on an off-chain mode and it is coming along nicely :)
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We would really appreciate if you could do something similar with sports betting. We would love to have you in our broad of advisers :)
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I don't see how bitvm helps with sports betting. DLCs seem like a better technology for that
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Thanks for your advice. I will be discussing DLCs with 10101. They have done a phenomenal job of virtual DLC channels. However, if you ever land-up working on BitVM Poker, we would love to partner with you and run it as a part of Triible Casino.
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That's amazing. That's why I'm bullish on BitVM. It's too early to think about this, but do you have any idea how much it would cost to, for example, play a hand of poker?
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That's amazing. That's why I'm bullish on BitVM. It's too early to think about this, but do you have any idea how much it would cost to, for example, play a hand of poker?
I would probably have three separate addresses, player 1's collateral, player 2's collateral, and the kitty, which is the money that the winner of a hand receives. Each player would probably need to deposit something like $5000 into their collateral address, which they receive back assuming they do not break any of poker's rules. But if either player issues a challenge, whoever loses the challenge loses their collateral and forfeits the kitty to the winner.
Assuming fair play, everything happens off chain except for the deposit and the withdrawal. Those are ordinary-sized bitcoin transactions so the cost would be the cost of two regular bitcoin transactions. If there is foul play, whoever tried to cheat loses $5000 + the kitty. The $5000 pays for the fees of producing the fraud proof.
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