sounds quite different and promising as its seems. as i read from above and researched i think it is new approach in the market for such platform. But still i think such concepts are already being worked in the market…so what is the biggest difference among you and already existing betting platforms…
regards
[quote=“Jonathan Mills, post:21, topic:3394”]…so what is the biggest difference among you and already existing betting platforms…
regards[/quote]
I think it’s
a) distribution
b) using a stable value crypto (NuBits)
There are many more points mentioned in the business plan. It’s worth a read.
[quote=“Sentinelrv, post:20, topic:3394”]I’m not sure I understand your question, so maybe this will help and maybe it won’t. The Teehe Peershares blockchain won’t be created until after Nu is open sourced and things like data feeds and motion voting are added. They’re conducting the IPO now though in order to raise funds for development of the main website (sports book & casino) and so developers can work on building and launching the Teehe Peershares blockchain.
In order to purchase shares, you’ll need to contact a Teehe representative through either the email or bitmessage address provided on teehe.net. You need to make sure you fully control your email or bitmessage address though, because once the Teehe blockchain is ready to be launched, they’ll contact you back through the same address you used to purchase shares with so that you can finally receive your shares.[/quote]
Confirmation that this is how the IPO functions
The IPO will end upon sufficient funding at the close of funding window. Once $150k has been secured the IPO will be terminated regardless of the funding window. If Teehe fails to raise a sufficient amount of capital by the close of the funding window, investors will be contacted to provide a deposit address to receive their contributed currency.
[quote=“Jonathan Mills, post:21, topic:3394”]sounds quite different and promising as its seems. as i read from above and researched i think it is new approach in the market for such platform. But still i think such concepts are already being worked in the market…so what is the biggest difference among you and already existing betting platforms…
regards[/quote]
You are correct in your assumption that new concepts are being worked on in the market. One such concept can be found here http://dacx.com/play/index_en.html
For comparative analysis this concept raised 2397 BTC in January of 2015.
Another concept being worked on can be seen here: https://www.peercointalk.org/index.php?topic=3957.0
While this kind of truly decentralized solutions are quite interesting from technical perspective, we consider they lack practicality. They are often over-engineered and are based on nicely written technical papers. However, they probably lack scalability, stability and security.
That is why we have chosen not to pursue this kind of approach and use tested and reliable technologies. This does not mean we will not strive to technically evolve in the future. We think we are in far better state to experiment with new technologies as money making business than startup running on investors’ money.
Teehe differs from Bitcoin competitors and traditional regionally confined Fiat competitors. For more information I suggest you read the business plan available on teehe.net
In short, Teehe applies blockchain technology to our organizational structure to circumvent high taxes, regulatory costs and forms of censorship. Teehe serves the largest markets of sports betting and casino games. Moreover, Teehe provides value to its customer base by allowing them to wager in their preferred Fiat currency whether that be USD, Yuan or Euro.
It makes sense if that is what it meant. I was thinking after share distribution…
I haven’t see evidence how much benefit this brings to the customers. I have never used such sites but if most people pay before the game and cash out right after, the time window is so short even bitcoin seems to be stable enough, especially compared with the big diff of lose/win that the customer is dealing with. There should be an analysis / estimate.
I haven’t see evidence how much benefit this brings to the customers. I have never used such sites but if most people pay before the game and cash out right after, the time window is so short even bitcoin seems to be stable enough, especially compared with the big diff of lose/win that the customer is dealing with. There should be an analysis / estimate.[/quote]
Okay, try this:
Deposit 1 BTC to random sports book that accepts Bitcoin. Make one or two small stake bets, let’s say 0.002 BTC each just to test the site.
Bitcoin will now probably go down to 250$. Log in tomorrow, you still have almost 1 BTC but you have lost 30 USD.
More serious problem is from the book point of view. Servers, developers, bug testers, support personnel expect to be paid in fixed value USD. Book made 100 BTC as of 14. March , paychecks and bills are due tomorrow. Today manager of the book is doing accounting and amount of profit in BTC is enough to cover expenses and keep 9 BTC worth of profit.
Tomorrow, he sees that Bitcoin went down and now book is in debt 1.2 BTC.
What does the book do now?
This is with small oscillations (±30 $) of Bitcoin, I can only imagine the punch books and customers experienced with 600 to 200 fall. I doubt any of them are liquid.
I think teh customer will just depost 0.002 BTC to test. The point is that the customers will reduce exposure. if it is an issue to them. Nubits will make it more convenient, Teehe can perhaps estimate how much this could benefit based on average balance in average holding duration etc.
As for btc exposure to the company, it’s now new. It is a problem but not my question (nbt benefit to the customers)
[quote=“Teehe, post:28, topic:3394”]Updated Prospectus document: http://teehe.net/pdf/teehe-prospectus.pdf
FAQ section included.[/quote]
I think it is good if FAQ is also a menu between Business plan and Contact at teehe.net
I haven’t see evidence how much benefit this brings to the customers. I have never used such sites but if most people pay before the game and cash out right after, the time window is so short even bitcoin seems to be stable enough, especially compared with the big diff of lose/win that the customer is dealing with. There should be an analysis / estimate.[/quote]
Bitcoin has continued to grow in the consciousness of its users. However, people still predominantly rationalize their monetary portfolio’s in terms of Fiat. The same applies to gambling, bettors wish to wager approximately $100 on a match, and not 0.34798 Bitcoin. We save them this mental conversion, allow them to bet in terms of their preferred Fiat currency.
It is rare for a player to deposit then bet on a game and immediately withdraw at the conclusion. If they are doing this they are racking up transaction fees even with Bitcoin. It depends of course on how often they bet. Also, this is not even possible with Fiat sports books as it takes days to deposit and withdraw with large fees.
Volatility is a risk premium, meaning an investor requires a higher return on an investment due to volatility. The volatility swings with Bitcoin are not small either, especially over a long term perspective, so Bitcoin gamblers are taking large risks without being compensated. Teehe eliminates this risk premium, it is logical to conclude the market will come to favor such a solution.
The biggest value is not even to the current Bitcoin gambling market. Teehe opens up this market to the massive traditional Fiat market. Teehe is a bridge between both of these markets. It captures all the benefits cryptocurrency has over Fiat that saw the rise in Bitcoin gambling, while solving the volatility problem that prevented a larger majority of users entering into Bitcoin gambling.
The gambling industry is one that reacts to change quickly, it was one of the first industries to move operations to the internet. Moreover, it was one of the first use cases of Bitcoin. The future of the online gambling market lies in nonvolatile betting, low transaction fees, and instantaneous deposits/withdraws.
Announcement:
[member=16984]Hyena[/member] has joined Teehe team.
Hyena is a cryptocurrency enthusiast since 2011. He is the owner and lead developer of cryptograffiti.info. Also, he is working on a Bitcoin based online multiplayer betting game and is interested in hosting it on Teehe.
He has master’s degree in software engineering and he is currently working in the area of cyber defence as an expert of secure programming.
We have agreed that many attack vectors can be prevented simply by the architectural choices of the software system.
We are sure this is a great addition to our team and will help us deliver a prestigious platform for our future customers.
While not directly related to Teehe, this is nice article: https://thebitcoinstrip.com/blog/investing-in-bitcoin-casinos.html
It shows how big this industry is, and how much Teehe can expand.
Teehe offers a lot of advantages over existing companies on the market; with use of stable currency, well designed and custom tailored system and most importantly decentralized ownership.
It is needles to say how much will this mean to Peercoin ecosystem.
[quote=“caribou, post:30, topic:3394”][quote=“Teehe, post:28, topic:3394”]Updated Prospectus document: http://teehe.net/pdf/teehe-prospectus.pdf
FAQ section included.[/quote]
I think it is good if FAQ is also a menu between Business plan and Contact at teehe.net[/quote]
We appreciate the feedback. This has now been implemented on http://teehe.net/
[quote=“levent, post:35, topic:3394”]block chain technology for the first game
Interesting.
However, “This Account Has Been Suspended”; http://www.holydice.com/cgi-sys/suspendedpage.cgi
website stoppedis the last comment in the thread.
Btw, was this phrased like a question, suggestion or purely informative?
Bitcoin community ->said it was not fair
100% was fair
I do not know Peershares… !
but
for bitcoin
generates hash wallet
that means trouble
hash can be created without online
Players can exploiting the situation
Teehe does not plan to run games on the blockchain. Not yet, maybe for Teehe v2.
Also, Teehe will not focus on simple casino games like dice games. We will focus on sports gambling for start, which is much more complicated and can not be hosted on blockchain. At least not yet.
[quote=“peerchemist, post:39, topic:3394”][member=29597]levent[/member]
Teehe does not plan to run games on the blockchain. Not yet, maybe for Teehe v2.
Also, Teehe will not focus on simple casino games like dice games. We will focus on sports gambling for start, which is much more complicated and can not be hosted on blockchain. At least not yet.[/quote]
super