BITCOIN WHALE GAMBLER SAYS 99.9% DICE = 100% SCAM
Gambling is the riskiest form of investment, if it can even be called such, known to man. Casinos worldwide use any marketing tactic imaginable to attract that hallowed sucker born every minute, including giving money to new players, free drinks, and publishing odds.
Online casinos, especially in the cryptocurrency space, have the added ability to use what they call a ‘provably fair’ method. This means that the gambler can hash two seeds and determine whether or not the result on the bet was fair or not. In many systems the user is able to see the server hash as soon as the bet is completed.
However, one major gambling site, 99.9% Dice, which promotes a house ‘edge’ or win ratio of just .1%, has recently found itself under scrutiny after a player cried foul ball over the way their system works. In the 99.9% Dice system, the user must click a button to reveal the hash after each game.
The user in question, Ed Benckert, believes that the server actually generates a correct hash when this button is clicked, and that the seed the server actually uses is whatever the server needs it to be. He wrote a long article describing his experience at 99.9%, where he placed a total of 92,000 BTC in bets over time.
This post was published at Crypto Coins News on February 12, 2015.