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Casino Coin is the new Ripple Coin.....NOT!/!

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3 minutes ago, XRP-JAG said:

Hi @daniel_wwf - I'm curious on how currency fluctuations work with BRM?

I deposit £100 into BRM, I do a few games of Blackjack at Casino 1, some slots at Casino 2, and some sports bets at Casino 3, and at the end of the week I end up break even - got my £100 back. If CSC price has dropped whilst I'm playing, when I go to withdraw do I end up with £95? Or is somebody else taking the hit?

That's a good question and comes down to how a casino implements CSC.

The casino could allow you to deposit CSC, you gamble in CSC, you either win or lose in CSC. If you want to go back to fiat, you will have to exchange the coins. This will leave you with three possible options: You exchange for less than you did put in (rate went down), you get more than you previously purchased (rate went up), you break even (nothing changed. Like with most cryptos volatility is something that needs to be solved. The key point here is having on and off-ramps. That's something we currently working on. 

A casino could also allow you to deposit CSC and then converts it to FIAT (or some internal currency like chips). On your way out you get converted back to CSC or they offer a direct off-ramp.

One of the options that would solve the problem of volatility is to issue a token and buy and sell it at a fixed rate. Similar to getting chips on a table. This will also give an operator all advantages off the tech, while killing one of the biggest disadvantages. 

The first option is how most crypto casinos operate as of today.

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On 12/1/2019 at 3:20 AM, daniel_wwf said:

CSC is a project fork of the XRP codebase, running its own ledger and infrastructure.

So why did you decide to squash down commits then? https://github.com/casinocoin/casinocoind has less than 200 commits meaning that the history of who contributed what and why has largely been lost. Also you're shipping assets like https://github.com/casinocoin/casinocoind/blob/master/images/ripple.png which are copyright protected (and you're likely not allowed to do that).

I get the argument that you might need to be able to do releases on your own schedule too, but a more friendly way of forking the repository (and contributions upstream to rippled) would also have been possible, right? In its current form, it is not even easy to see what you changed from rippled and how you are different. I fail to see the benefit for that, especially considering that you are likely missing out on a ton of features like sharding, fixes to several security and usability problems...

You don't have any way I could find to get in touch with you to disclose security issues in your software by the way and also no formally stated process to do so. I hope you're really really good at keeping up to date with Ripple's changes and fixes and back-porting them, because you might have a few things in there that are maybe worth a bit.

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On 11/29/2019 at 10:52 PM, joe91 said:

I happened to visit the casino coin chat site which looks similar to XrpChat, and I saw there a lot of old timers who left this site, sold all XRP, and now playing the dice on with CSC. My question to our XRP community is what we think of CSC?!? I mean it uses the rippled code like stellar, it has fewer coins in circulation, it costs less than 1/10 of a penny, with supposedly huge gaming following starting to go live soon, they dream there on CSCChat that 5 cents is within reach, bringing similar returns to when XRP was at half a cent, but I don't know....red flags..... only one exchange trades this coin, less than 50,000$ volume, and why in the world, casinos can not go onto ripple ledger to issue tokens and do all the gambling related stuff; i mean; where is the catch?!? // can someone explain?!? // if not // it is ok // I understand i am not a proficient contributor!   :flirt:

csc is an investment plain and simple. red flags? name one crypto coin that doesnt have red flags. btc went from $700 to $20,000 based on nothing. thats not a red flag?

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On 11/29/2019 at 11:21 PM, Molten said:

Once in a great while I like to play online poker.  I don't know what problem csc is trying to solve, but BTC actually works quite well to deposit for gambling purposes.  BTC doesn't work at all for the problem XRP is trying to solve.

casinocoin, among many others things, streamlines the kyc process.  its genius and needed in the gambling community. 

Edited by XRPto50dollars

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On 11/30/2019 at 1:39 PM, Palerider said:

Those are terrible investment points. 
 

1) Casino Coin is making their partners who want to make their own token on the CSC block chain buy $25k of CSC (which they don’t want) then just simply donate it back to the CSC foundation ?? That’s flipping weird man. It’s Doesn’t make any sense. 
 

2) Again each of these companies will have their own token, just on the CSC blockchain. If they have their own token on the block chain they will get the same benefits using their token as they would the CSC token, again showing that the CSC token has a weak-ish use case (not to be confused is the CSC block chain). 
 

3) It reads to me that Casino Coin is trying to force their potential clients into using the CSC token to get access to the CSC blockchain, even when it doesn’t make sense to own the CSC token. 
 

Again, screen shot this and rub it in my face later, but it’s clear that their use case is a little shakey. That’s all. Little opinion.

90% of your post is false <_<

ill gladly rub it in your face later, dont worry -_-

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1 hour ago, XRPto50dollars said:

csc is an investment plain and simple. red flags? name one crypto coin that doesnt have red flags. btc went from $700 to $20,000 based on nothing. thats not a red flag?

BTC went from void to $20,000 based on "nothing" and probably will go to a mill in a not so distant dystopian future.....XRP should follow one way or another, just based on the fact that it is The Prodigy of the team that gave birth to an initial concept! // Red flags are of course everywhere // but in my experience; I am always afraid of "non for profit organizations" // especially when I see an advisory board made of top notch bookie sharks and a trustee board of gambling whales // casino and "not for profit" are contradictory akin to a rat renting a mousetrap.......:acute:

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1 hour ago, joe91 said:

... when I see an advisory board made of top notch bookie sharks and a trustee board of gambling whales ...

..as opposed to banking sharks here !! Both casinos and banks are all about extracting profit from the masses.. 

However, dig deeper and you will see that both XRP and CSC are all about regulation and accountability for these industries.

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3 hours ago, joe91 said:

BTC went from void to $20,000 based on "nothing" and probably will go to a mill in a not so distant dystopian future.....XRP should follow one way or another, just based on the fact that it is The Prodigy of the team that gave birth to an initial concept! // Red flags are of course everywhere // but in my experience; I am always afraid of "non for profit organizations" // especially when I see an advisory board made of top notch bookie sharks and a trustee board of gambling whales // casino and "not for profit" are contradictory akin to a rat renting a mousetrap.......:acute:

The CasinoCoin Foundation is not a Casino.

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8 hours ago, joe91 said:

BTC went from void to $20,000 based on "nothing" and probably will go to a mill in a not so distant dystopian future.....XRP should follow one way or another, just based on the fact that it is The Prodigy of the team that gave birth to an initial concept! // Red flags are of course everywhere // but in my experience; I am always afraid of "non for profit organizations" // especially when I see an advisory board made of top notch bookie sharks and a trustee board of gambling whales // casino and "not for profit" are contradictory akin to a rat renting a mousetrap.......:acute:

the great thing is, no one is forcing you to invest in csc.. so contradictions only matter if you choose to invest  :biggrin:

Edited by XRPto50dollars

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13 hours ago, Sukrim said:

So why did you decide to squash down commits then? https://github.com/casinocoin/casinocoind has less than 200 commits meaning that the history of who contributed what and why has largely been lost. Also you're shipping assets like https://github.com/casinocoin/casinocoind/blob/master/images/ripple.png which are copyright protected (and you're likely not allowed to do that).

I get the argument that you might need to be able to do releases on your own schedule too, but a more friendly way of forking the repository (and contributions upstream to rippled) would also have been possible, right? In its current form, it is not even easy to see what you changed from rippled and how you are different. I fail to see the benefit for that, especially considering that you are likely missing out on a ton of features like sharding, fixes to several security and usability problems...

You don't have any way I could find to get in touch with you to disclose security issues in your software by the way and also no formally stated process to do so. I hope you're really really good at keeping up to date with Ripple's changes and fixes and back-porting them, because you might have a few things in there that are maybe worth a bit.

I will have to give you that one. Looking back that could have been handled differently. When we started, our guys took the source, did the changes we needed to launch our ledger and pushed everything back into our repo as a starting point. We keep an eye on Ripples dvelopment and cherry pick from the fetures and changes they introduce. 

I am not a lawyer, which menas I don't want to state the following as an undisputable fact. The repo was published under a license that granted "permission to use, copy, modify, and distribute this software for any purpose with or without fee is hereby granted, provided that the above copyright notice and this permission notice appear in all copies." That's why we kept. However I reuqusted that those images get removed with the next commit.

We have provide a contact option via email which is shown here https://github.com/casinocoin. I addmit this could be handled in a better way and I appreciate you pointed that out. I will make sure that gets sorted as well.

We welcome any inputs that you may have that will help us better our process :)

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12 hours ago, joe91 said:

BTC went from void to $20,000 based on "nothing" and probably will go to a mill in a not so distant dystopian future.....XRP should follow one way or another, just based on the fact that it is The Prodigy of the team that gave birth to an initial concept! // Red flags are of course everywhere // but in my experience; I am always afraid of "non for profit organizations" // especially when I see an advisory board made of top notch bookie sharks and a trustee board of gambling whales // casino and "not for profit" are contradictory akin to a rat renting a mousetrap.......:acute:

We don't facilitate gambling and the foundation was not set up in orde to make it look good on paper. It similar to other foudnations you see in crypto and it is a legal entity. We have a devlopment branch as well, which is known as CSC OP Co LTD registered in Malta. We don't have any "bookie sharks" or "gambling whales" on board. Our Advisors are known in the gambling industry and work for reputable companies. Our team is a mix of ex PokerStars execs and people that actually worked in the industry, as well as people with a background in crypto.

 

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5 hours ago, Palerider said:

Feel free to explain. I’m open minded, I promise. 

using words such as "Casino Coin is making their partners..." and, "It reads to me that Casino Coin is trying to force their potential clients" sets yourself up easily for responses such as mine on account that you're obviously saying things like this on purpose to get a rise out of people. 

csc is a very serious investment for me and many in here, and i dont have time to bicker back and forth with moot comebacks. and so, ill let you have the last word here, but i wont be responding anymore to this. take care.

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On 11/30/2019 at 7:39 PM, Palerider said:

Those are terrible investment points. 
 

1) Casino Coin is making their partners who want to make their own token on the CSC block chain buy $25k of CSC (which they don’t want) then just simply donate it back to the CSC foundation ?? That’s flipping weird man. It’s Doesn’t make any sense. 
 

2) Again each of these companies will have their own token, just on the CSC blockchain. If they have their own token on the block chain they will get the same benefits using their token as they would the CSC token, again showing that the CSC token has a weak-ish use case (not to be confused is the CSC block chain). 
 

3) It reads to me that Casino Coin is trying to force their potential clients into using the CSC token to get access to the CSC blockchain, even when it doesn’t make sense to own the CSC token. 
 

Again, screen shot this and rub it in my face later, but it’s clear that their use case is a little shakey. That’s all. Little opinion.

Missed that one earlier but let me address those points. 

1) The Foundation doesn't force anyone to become a partner. It's an agreement between two parties, which they only enter if they see the benefit. Looking at industry standards, 25k isn't that much.

2) Not every use case makes sense using CSC native, that's why our current partners choose to run a token. It is something that needs to be looked at for each partner individually. If Casino ABC says "well like what you are doing but we would like to have our own branded stuff" it wouldn't be smart to let them choose to run a token. It's something we did implement because it was requested.. At the end of the day, it's a tx on the CSCL. 

3) Again, we don't force anyone to onboard. They could just go for an ERC20 and set their token up for free or use any other solution currently available.

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