Closer, but still not right

This is a new start up doing somehing like banker bot.  You can see they almost directly copied this blog in most respects.  But they missed a few points.

Reason: Coming this fall, Augur will allow participants to wager money on any future event of their choosing. Software will set the odds, collect the bets, and disperse the winnings. The price alone should give Nevada sportsbook operators pause; an estimated one percent of every pot will go to keep the system running. The average vig today is about 10 times that.

Augur isn't a full-fledged casino. You can't play roulette or poker, and running lotto on the platform would be tricky. But it'll be great for sports betting.

First, bitcoin is like an infinite precision Huffman encoder, it basically encodes every bet to infinite precision, so the block chain balances all end up a sequence of ever larger prime numbers.  The deal is that a nine bit, run time Huffman encoder will encode enough information for most bets.

Second, why screw around with a half done job?  Why not put the banker bot in the secure smartcard. It is, like, not a secret, ok?  Everyone in Silicon Valley knows the basics, go straight to the full solution.  If not, the  we have a hundred tiny bitcoin like companies causing market confusion. CardLogix is supposed to straighten out the market. CadrLogix is supposed to give us pure cash, locked inside the smart card.