The Silicon Review
“We will give users the choice to use multiple coins that may have faster processing times and cheaper blockchain costs associated with them.”
MintDice is a fully-featured online cryptocurrency casino. It was incorporated in 2017 and is headquartered in Willemstad, Curaçao.
MintDice, Bryce Daifuku Founder and CEO, spoke exclusively to The Silicon Review. Below is an excerpt.
Q. The online gambling industry is growing, with an increasing number of companies offering an even greater number of online and mobile platforms. How do you distinguish your services from others?
MintDice has built its own online gambling platform from scratch. This has enabled MintDice to offer a seamless platform with provably fair games of the utmost quality that cannot be found anywhere else on the internet. The vast majority of casino games found online presently use closed source software that hides the Random Number Generator (RNG) outcome from its users. However, this is not the case on MintDice – all of the RNG source code is out in the open and is mathematically verifiable. Any result given by a MintDice casino game is therefore honest and fair.
Furthermore, many of the few online casino operators that offer provably fair games often lackluster features or options since game development is very arduous and expensive. However, on MintDice, we’ve made no compromises to game quality, offering some of the highest tech games in the industry with the lowest house edge giving an unprecedented return to the player rate at a staggering 98-99 percent compared to the more industry standard of 80-95 percent payout rates in most Vegas games.
In the future, MintDice hopes to expand further into more pronounced and innovative first to market skill-based games, a bespoke custom SportsBook, and also increasing our provably fair casino game offerings, for example, with a first of its kind Bitcoin lottery.
Q. A significant problem that blockchain casinos face is low transaction processing speed. How do you overcome this issue?
Presently, MintDice only accepts Bitcoin as the native currency for its platform. In the near term, MintDice is looking to expand its cryptocurrency lineup by taking other various currencies and standard fiat currencies. By offering other major cryptos, MintDice will give users the choice to use multiple coins that may have faster processing times and cheaper blockchain costs associated with them.
In the long term, once a lot of our core development projects are finished, we would look into furthering our underlying architecture to include both Bitcoin payments and on-chain gaming with the Lightning Network or other such derivatives. This is the Holy Grail for gambling that MintDice hopes to achieve as we eventually build our platform. This would allow for an entirely fair, low-cost platform for gamblers that would also allow them to maintain full control of their wallet balance at all times.
Q. Bitcoin can be a volatile currency. It means that the exchange rate can move too quickly. In such cases, how do you protect the interest of the users?
This is predominantly a non-issue because Bitcoin is the native currency used on the MintDice website. If a user were to deposit 1 BTC when the value was $5,000, and the value was to increase to $10,000 the following month, their 1 BTC would still equal 1 BTC and vice versa.
That said, of course, it’s important that a user should be able to access their funds held on MintDice quickly should they want to manipulate their cryptocurrency in some fashion through the likes of a Bitcoin exchange. For this reason, we have a hot wallet that will allow for fast and immediate withdrawals for our best customers. Additionally, with an in-house designed wallet, we have a dynamic ‘set your own price mechanism’ that can allow users to pay extra for a faster withdrawal processing time on any blockchain network or choose a slower and cheaper alternative if they aren’t in any rush.
Q. What other leaders do you look up to, and why?
We largely respect three individuals coming from MintDice: Edward Snowden, Sal Khan, and Elon Musk.
To start with the obvious one, Elon Musk, he does what the best leaders do nearly perfectly. He’s proven himself as highly successful in multiple industries, works harder and smarter than almost any other human on Earth, and can always see the big picture with all of his projects.
Edward Snowden makes a list due to his sacrifice. He had a great job and a significant position in society. But he should be praised by everyone for giving up this position of comfort for the greater good of society. At MintDice, we strive to have consistent morality to Edward Snowden by protecting our users’ privacy and data at all costs whenever legally possible by running a provably fair Bitcoin casino, which also helps promote and support the overall Bitcoin ecosystem and economy.
Similar to Edward Snowden’s sacrifice, this also applies to Sal Khan. Formerly involved in the hedge fund space, Sal Khan gave this line of work up to start a non-profit internet-based free education program. He sacrificed a high paying job to create a business that had virtually no merit for success initially. And yet, it is now one of the world’s leading free education platforms. This was only possible due to an insane work ethic, talent, and other positive attributes that apply to successful CEOs.
Q. If you had one piece of advice to someone just starting as an entrepreneur, what would it be?
Do everything yourself, whenever possible, and even create work for yourself until it becomes mandatory to scale in certain capacities. It will always be cheaper, better, and faster than outsourcing. If you aren’t willing to work that hard, don’t start a business.
Q. What do you think is the most memorable moment in your career?
I can’t say that there is any particular moment that stands out from the rest. I know that when I was helping to develop one of MintDice’s games (that has yet to be released), I was particularly impressed with myself that I could figure out certain mathematical equations and models to create a viable gaming engine for players to gamble on. This game was then further developed with colleagues’ help that I believe will indeed be outstanding once released.
Q. What does the future hold for MintDice and its employees? Are exciting things on the way?
MintDice has a reasonably extensive roadmap that extends outwards for years.
In the near term, a very extensive overhaul of the entire MintDice platform that has been underway for over a year often referred to simply as v2 or 2.0, should be launching very soon. This platform will provide a much better look and feel for MintDice, enable full mobile gaming compatibility, and use a better scaling codebase to allow for more rapid deployment of our future game development.
A whole host of new games and features will be developed and launched on MintDice’s new v2 platform in the medium term. This will include a bespoke SportsBook, a casino game, and two additional player vs. player games of skill (and luck) at the very least, with more ideas floating around depending on our player base’s interactivity with each module. Furthermore, soon after the 2.0 release, MintDice intends to launch its VIP rewards program that will reward all of its most valuable players on the site with many unique onsite features/rewards and real cash prizes.
Finally, in the long term, MintDice plans on an overall commitment to on-going high-quality development. There will likely never be a stage where MintDice is ever considered a ‘finished product’. And while we have a whole development board of ideas for what we can pursue years down the line from today, we are going to have to base a lot of those future decisions based on the actions and suggestions from the community, later on, to serve our customer base to the best of our ability with that further knowledge when the time comes.