/biz/ - Business & Finance

And now we need to take moment to discuss value and how tokens or contracts provide value. To do that first we need to define value, which is not always easy because everyone is different and values different things with different weighting. But for the sake of discussion we can define value as something that most anyone can appreciate: Material and labor

Material value is easy, It's stuff: gold, silver, your car, your house.
Labor is work, it is effort.

How does this coin provide value then? The coin labors...it "works" so to speak. Lets say for example that you are a casino owner with a brick and mortar casino. You have exactly 1 patron in your establishment gambling. What is the minimum amount of labor required to facilitate that patrons wagers?

Security: First and foremost we will need at least someone to ensure the integrity of the gaming environment. The blockchain in this case is the security. Unwavering in it's surveillance and incapable of error. The security will ensure the contracts executes as it should with 100% accuracy.

The dealer or the host: We will need someone or something to deal or provide odds to the patron for his wager. This is 1uck/0xgamble. It will facilitate the patrons wager.

And Finally: Someone to process the cashout if the patron should win. This is 1uck and the blockchain working together.

That is the minimum requirement to provide a game of chance to a patron and all casinos require staff, even digital ones.

>>55201293
I do love gambling but NL serves as the benchmark for my full expectation because of 2 reasons.

1. It will be the most complex game of chance a blockchain will have to deal with. It will have to account for player positions, chipstacks, bet sizing, rake and more. If the blockchain can successfully play a game of NL Texas Hold'em then the blockchain can play any common game of chance.

2. It's my favorite game.

>>55189021

We should probably just stop discussing Lotto all together. It doesn't meet the criteria of a perfect game which is why you should be excited about these projects in the first place.

Lotto hooks into your wallet through a web app and the logic is in that app. The coin does not handle the gambling logic and there is no oversight from the blockchain. Lotto is in the same camp as every other localapp/webapp crypto casino and there are thousands.