A non-profit gambling site.
Objectives: -Raise awareness and interest in cryptocurrencies, especially in the younger generations -Raise money for charities -Get my name out there (I'm Henry Wu, by the way)
How will the site work? The site will feature a provably fair game of dice with a significant house edge. I plan on using dogecoin first, since it is the most noob-friendly and accessible cryptocurrency. Your average ten year old probably won't have access to a bank account to buy bitcoins with, but nothing's stopping him from introducing himself on reddit and visiting faucets.
How can a gambling site be non-profit? On every bet, aside from setting the amount of money to bet with and the chance of winning, the player will have a list of charities to choose from. At the end of each day, assuming the house wins, the site will donate a percent of its earnings to the charity with the most amount of winnings. The rest of the money carries over as the base for the next day's games and money to pay for maintenance of the site.
This makes it so every (ten year old) player on my site is presented with a win-win situation: either they win money, or if they lose, the charity of their choice becomes the house and they simply donate to it.
How can this be sustainable? It probably can't. As the house, the best case scenario for me is to simply break even. Even with a 10% house edge, there will be days I lose money. I will either need a startup fund wink or a serious amount of donations from the cryptocurrency community to get this started.
Yes, I am proposing that we introduce cryptos to our children through gambling. Hopefully they can recognize the strengths of cryptocurrencies while also seeing the pitfalls of gambling.
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