Archives for 14 Jul,2010

You are browsing the site archives by date.

Bitcoins a cryptocurrency, free bitcoins and a rigged casino

Update: it’s currently quite difficult to get hold of bitcoins in the UK but localbitcoins works.

If your already aware of the awesomeness of public key cryptography (e.g. PGP or OTR), then you will probably appreciate Bitcoins.

You send coins by typing in someone’s address and how many coins to send and then your transaction will propagate around the p2p network. You receive coins in the same way by giving someone your address. In order to track transactions you can also make more addresses (and labels for them) which can also add to anonymity. Bitcoins are currently worth $0.0201 per bc (source)

Bitcoin program running

Bitcoin program running

Generating Bitcoins
You can opt to generate solutions to a specific crypotgraphic problem in exchange for bitcoins, by doing so your computer’s idle CPU will be used to solve this problem and when a solution is found you will be rewarded with some bitcoins, yay. There is also talk of speeding up the generation by using CUDA or similar tools here

5 Free Bitcoins
You can get 5 free bitcoins to start off your adventure into this new currency fromhere. This is a donation from somebody who wants to ensure that this currency is sucessful and as such this is a token of good faith and should not be exploited. You can also donate bitcoins to the fund to help this project.

Bitcoin casino (A Rigged Casino)
Now onto complain about a rigged casino that operates with bitcoins (Bitcasino).

Rigged and Broken roulette game on bitcoin casino

Rigged and Broken roulette game on bitcoin casino

I continually placed a bet (free play mode) on red, and for over 40 rounds it came up black, this has a probability of (20/7)^40 or 0.000000000708%. As unfair as this was then game then started getting worse constantly resulting in 0, however it would say “31 black odd” and in the side bar of past numbers “un” kept appearing which I guess means unknown.

I also tested a few of the slot machines to see if they were rigged too, and surely enough each rotation of the slots resulted in the exact same result every time, which was of course a losing one.

This bitcoin casino is rigged, buggy and not worth wasting your time with, it is much easier to lose money in other ways.

Bitcoin is an awesome idea and hopefully it will catch on and become sucessful, however be sure to avoid bitcasino! Also if anyone would like to donate some bitcoins then please send them to:

Read More