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... Tokens in the Counterparty BitBowl!

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cyrusfx

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Location: Honolulu, HI

(8/11 update: BitBowl team tokens are now for sale on the Counterparty Asset Exchange!)

Hi All,

My name is Cyrus and I am launching a new type of Super Bowl wagering system based on trading Counterparty tokens. This is our official blog page which has all the strands and deets:

http://counterbowl.com/

Basically, it works like this:

You buy a "team token" on the Counterparty Asset Exchange that represents the team that you want to win the Super Bowl for a small price. Team token prices correspond to their latest Las Vegas Super Bowl odds.

If your team wins, you will be able to sell your token back on the exchange for the "grand prize" of 10 XCP.

That's 10 XCP per token, so if you wanted to place a bigger wager you could simply buy multiple tokens.

Ordinarily the team tokens will be priced in terms of XCP but I will be accepting orders for team tokens in LTBCoin, upon request. You can find team token prices at the bottom of the BitBowl homepage.

Thanks and please feel free to ask if you have any questions!

PS - yes, you can keep your team tokens forever or use them for any other imaginable purpose as well

Posted on August 6, 2014 at 2:30 PM
Last Edited: August 11, 2014 at 4:12 AM

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• adam

  

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  Interesting!

  Posted on August 6, 2014 at 3:03 PM
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• cyrusfx

  

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  @adam Interesting!

  I wanted to sell the tokens in BTC but given the problems Counterwallet has been having processing BTC orders (plus the impending regulatory nightmare), I thought it'd be better to sell them in XCP (and LTB).

  The Counterparty platform betting features make it possible for team tokens to go "head to head" on regular game days, where 2 users participate in a POG-like, winner-take-all competition, with one user putting up one team token as the bet and the other user putting up the opposing team token. Whoever holds the team token of the team who wins (or beats the spread), keeps the opponents team token as the prize.

  This is all currently doable, and the website Xbet.io makes use of this technology right now.

  I would like to automate as much of the process as possible, including buying back the Super Bowl-winning team tokens. This is as much an experiment as a hobby or business opportunity so any sort of feedback is appreciated.

  Let's find out what kind of an overlap there actually is between NFL and cryptocurrency fans!

  Posted on August 6, 2014 at 5:22 PM
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• Apple

  

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  You'll have to do something special for the St. Petersburg Bitcoin Bowl

  Posted on August 6, 2014 at 5:30 PM
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• therealtwig

  

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  Location: Bloomington, IN

  @cyrusfx @adam @cyrusfx @Apple

  You know, I think you are completely onto something here and I believe this to perhaps have unlimited potential. I know your intention is for XCP...but....

  When you traditionally make a futures bet on sports, it is obviously permanent, and pegged to the market rate at the time of purchase.

  So, say I make a bet on the Colts to win the Superbowl as of the time I have posted this, and I am pegged to the going rate of 14/1. I can't do anything else with my wager other than wait until the end of the season. So, if they win...GREAT! If they lose, bummer.

  Now, say the Colts are doing rather well this season and six weeks in, their odds change to 5/1. If my original bet was a token instead of a ticket that could be exchanged on a free market place, I could have a pretty good incentive to sell it to an interested buyer for quite a little profit and not have to wait until the end of the season to realize the result. BOOM! Futures wagering marketplace!

  Think of all of the possibilities! For instance, someone buying a futures bet on the Cavs prior to when LeBron decided he would go back to Cleveland. At one point this offseason, Cleveland was 50-1 to win the title. One hour within him signing with the Cavs, their odds changed to 4-1. Think anyone holding a 50-1 futures ticket would love a hedging opportunity at this point?

  You could also use this token system to get out of a terrible bet too. For instance, the Pacers had great odds at 10-1 to win the NBA title until Paul George's recent injury. Now they are 40-1. You could still sell your asset at a loss to get something out of it. And, someone looking to get a Pacers future bet could get it on a discounted rate.

  Loving the idea @cyrusfx and am completely enamored with the possibilities!

  Posted on August 6, 2014 at 5:54 PM
  Last Edited: August 6, 2014 at 5:55 PM
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• cyrusfx

  

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  @apple You'll have to do something special for the St. Petersburg Bitcoin Bowl

  The owner of bitbowl.com already wanted to sell me his domain. Guess the real Bitcoin Bowl already turned them down, but just in case I also have bit-bowl and thebitbowl.com.

  Posted on August 6, 2014 at 6:30 PM
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• cyrusfx

  

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  Location: Honolulu, HI

  @therealtwig

  Loving the idea @cyrusfx and am completely enamored with the possibilities!

  Thanks I appreciate it! I thought it would be fun to combine a couple of my favorite hobbies: football and cryptocurrencies.

  In the age of the blockchain we are no longer just confined to making simple wagers and holding them -- as you mentioned, you can now sell that wager as if it were some sort of digital futures contract.

  Edit: I will begin listing team tokens for sale on the Asset Exchange, in terms of XCP, this evening (HST), just to see how it goes. There should be no problems trading XCP for team tokens at the moment, even if there are a few snags in the GUI.

  If you want to buy a team token in LTBcoin, you can put an order on the exchange or else ask me to list a sell order for you to buy. Just mention the team name in this thread. Team token prices, rules and such can be found at www.counterbowl.com .

  Posted on August 6, 2014 at 7:08 PM
  Last Edited: August 6, 2014 at 9:10 PM
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• cyrusfx

  

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  A Quick Update: There's either a hurricane or tropical storm that is going to move through here on Friday, and while I wanted to put the team tokens up for sale before the preseason started, I'm going to have to postpone the bitbowl launch due to bad weather.

  There hasn't been a hurricane in Hawaii since 1992 so there's a reasonable chance the power and/or internet could go out, and if I couldn't be contacted right after launch it wouldn't look so good.

  I am going to update the team token price list (at the bottom of the webpage) to include LTBcoin prices, just for fun.

  Thanks for your interest!

  Posted on August 7, 2014 at 12:04 AM
  Last Edited: August 7, 2014 at 12:04 AM
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• Cryptonaut

  

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  @cyrusfx A Quick Update: There's either a hurricane or tropical storm that is going to move through here on Friday, and while I wanted to put the team tokens up for sale before the preseason started, I'm going to have to postpone the bitbowl launch due to bad weather.

  There hasn't been a hurricane in Hawaii since 1992 so there's a reasonable chance the power and/or internet could go out, and if I couldn't be contacted right after launch it wouldn't look so good.

  I am going to update the team token price list (at the bottom of the webpage) to include LTBcoin prices, just for fun.

  Thanks for your interest!

  damn man, stay safe!

  Posted on August 7, 2014 at 12:09 AM
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• monbux

  

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  Cool! o.O

  Posted on August 7, 2014 at 1:13 PM
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• cyrusfx

  

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  @cryptonaut damn man, stay safe!

  Thanks, will do!

  Posted on August 7, 2014 at 1:17 PM
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