Edgeless (EDG) could be the best cryptocurrency gambling token you have never heard of
I have noticed my successful knack for finding diamonds in the rough at low market cap when it comes to altcoins over the past year (TRST at under 5cents and climbing, PIVX at 6 cents, now 1.60, ARK at 5cents, sold at 15 cents, etc). I have a few trading habits that I will introduce to you before I continue discussing Edgeless.
- For coins that are good for a short term take-off, my ballpark is between 5 and 15 million market cap.
- A failed ICO (price of ICO is high, followed by a plunge (This happened with both TRST and PIVX)
- A development team that isn't anonymous and has experience in the industry (TRST has the founder of Ethereum on its advisory board and a ton of google folks)
- A concept that is unique and has long term potential for market acceptance (TRST- peer to peer decentralized banking and insurance, PIVX- a quicker cheaper version of DASH)
When I came across EDG (Edgeless), this company is developing an inexpensive gaming house/casino in which Ethereum smart contracts are used to minimize the house take on bets, giving gamblers the possibility of zero excess profits to the house if they execute flawless gambling principles. Gambling houses are raking gamblers right and left with excessive fees and house advantage and are already looking for alternatives to improve their bottom line. This is where edgeless comes in.
Edgeless's ICO announcement this past December and ICO starting in February and ending in March, has seen since its entry onto Bittrex plunge to 11 cents from its highs (.00008323).
The price entry for this technology, whose smart contracts provide transparency to gamblers and investors alike to avoid cheating, this tech I believe has a lot of upside. Per their whitepaper on GitHub here: https://github.com/EdgelessCasino/White_paper/blob/master/White_Paper.pdf , the project has the following
With an aggressive roadmap with their lounge launching soon and their betting to be fully functional in the third quarter, this may be a "get in early" time before the momentum picks up prior to announcements of launch. The following roadmap is part of their white paper:
The following podcast with their CEO Tomas Draksas will fill you in on the rest:
Feel free to comment down below as to your take on my thoughts.
I'm an artist and slowly learning about cryptocurrency. Thank you for your post. Much of it goes over my head but if I stick with it long enough I'll get it.
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A transparent smart contract casino. Could kill competition over time. Currently no casinos are transparent and I believe that this tech could force a trend in the market
What kind of trend?
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I love the smell of fresh clean laundry in the mornning.
Towards gamblers seeking out transparent ledgers by casinos. It's a first mover benefit for edgeless, so I am throwing 10 percent at it.
hmmmm... interesting.
As a starving artist I think I could make more money selling my drawings on money.
I'm already seeing a problem with their claim of having a 0% house edge. On their bitcointalk.org announcement page, they claim a 0% house edge but in parentheses they say "0.83% in practice". Most bitcoin casinos operate with a 0.1% to 1% edge, which they do note on the page. Their claim of being edgeless is dubious since they are actually within the house edge range of most bitcoin casinos. They are also basing their edge on imperfect play, but I don't see that they have calculated the strategies employed to overcome house edge like martindale, stacking, etc. They are going to make most of their profits on the sports bet juice of 4%, which is how bookies make their money. Also, I don't see where they are proving that Bitcoin casinos, who have player controlled seeds, aren't provably fair. They make that accusation but do not back it up with proof. I suggest you read the thread: https://bitcointalk.org/index.php?topic=1718384.0
Yes, that is the page that is referenced under their whitepaper, which I browsed over. The goal to create the most transparent casino is a noble one, as well as trying to be transparent where the blockchain explorer can validate transactions and patterns of fairness is interesting. Your points are well taken and I'm glad you pointed them out that them stating "in practice" not being zero, but perhaps their ultimate goal is to be at zero with perfect play is still being worked out, as they have not launched yet. Much like Steemit or other platforms in beta mode, there are kinks to work out, but I thought the project sounded interesting enough to consider. However, a casino giving users a series of probabilities based on the strategies you listed, I don't see them not giving customers betting advice/techniques as a bad thing. Just started researching this one, as well as GUP (Guppy), which is just as interesting (Human Resources/dating/social networking/meetup coin).
Just to set I clear, as I understand they have only 0% edge on blackjack, the 0,83% is the average error of the players in game. Means, there are only a very few people who play perfect blackjack. But if you play perfect you can get the 0% edge. This is my understanding. Further this is only applicable to games which include certain amount of skill requirements.
Thanks for the tip! I just threw a hundy on it. Smart contract transparent casino? Deal me in!
Not a problem. I like the looks of this concept
Great news for Edgeless!
https://steemit.com/blockchain/@xoorl/the-kingdom-of-the-netherlands-first-to-license-ethereum-based-token-edgeless
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where can I buy it? on poloniex?
Bittrex
Very good blog. I was about to post a similair post. There's a lot of exchanges out there. I found that coinmarketcap.com gives quite a decent overview. I really advice people to take a look at: https://www.coincheckup.com Supposingly they researched every crypto coin in the scene based on: the team, the product, advisors, community, the business and the business model. They even score the coins stengths. Check: https://www.coincheckup.com/coins/Edgeless#analysis For a complete Edgeless Analysis
Regards from Edgeless family! :)