First of its kind, Bet Mining through the BetterBets Casino.
On average, blocks are mined every 60 seconds.
10 Million Coins
12 hour minimum coin stake age.
5% annual interest on staked coins.
5 confirmations for coin transfers between wallets.
Rubies is a peer to peer currency similar to Bitcoin in nearly every way except that it is 'proof of stake'. This means unlike Bitcoin, Rubies are not mined by high end hashing machines to create blocks, they are able to be mined with your Rubies wallet. To create new Rubies all you need is the Rubies wallet installed on your computer, then you need to send coins to it. Once coins are in your wallet for a minimum of 12 hours they are eligible to start staking (mining new blocks) and will create more coins for you. Just make sure you unlock your password protected Rubies wallet first to allow staking to occur. The more coins you have in your wallet the greater your chances to find new blocks and thus, make more coins. You now have more coins to either bet with, trade on exchanges, or save and keep making more!
BetterBets Casino has created a distribution model called "Bet-Mining" which will help facilitate the disbursement of coins to the digital currency community. Playing with Bitcoin on our site will allow players to start accumulating Rubies coins on their accounts which will then become available to place bets with, withdraw to a wallet or exchange, and possibly in the future convert directly to Bitcoin. Upon Rubies debut players who wagered over 1 BTC worth of volume on our casino were credited coins for evey 1 BTC they previously wagered as well. This was done to help accelerate the adoption and use of Rubies right from the start.
Betting with Rubies is just like betting on our casino with Bitcoin, just make sure you are on the Rubies game page and you will be allowed to start betting with Rubies once you have some deposited in your account
Rubies was created to give people a new coin and way of betting. It's also its own separate currency which has the potential to allow players, investors, and speculators the opportunity to be a part of a community of digital currency enthusiasts therebygiving Rubies value. Our casino is in a position where we can give Rubies an instant business backing that accepts it for your entertainment. As Rubies is accepted by trading exchanges and grows in value it gives people a nice bonus to take away from our site as well. One they can also earn more from staking coins coins in their wallet.
Minimum bet for Rubies is 0.0001 currently, if coin value per Ruby gains significantly then a smaller betting fraction will be considered. Max bet will be 1% of the bankroll (standard).
Unlike our Bitcoin betting which Moneypot.com controls, Rubies is handled completely by our team and has its own provably fair built and provided by BetterBets.io. The API which allows 3rd party bot betting will be similar enough for third party developers to easily port their bots to the Rubies API.
After exchanges start accepting Rubies for open market trading we will add a link to their site, and possibly add a ticker showing the current Rubies to Bitcoin price. This is also something we can add to the Rubies wallet as well.