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Title: GiveUsTheBits–NOW PROVABLY FAIR WITH 0.5% EDGE Post by: GiveUsTheBits on October 28, 2015, 02:45:47 AM http://giveusthebits.com
Here's how this game works. There's a target value, somewhere in the range of [0.0100 BTC, 0.0101, ... 0.0199], which serves as our correct answer. Your bet is how much you think the target value is (e.g., if you think it's 0.0155 BTC, send 0.0155 BTC to the address). If you guess correctly, you and whoever else also guessed correctly split 70% of the jackpot, with anyone who was off by one on either side splitting the other 30%. We take 0.5% off the top. If no one guesses correctly, the four people closest to the right answer win 15% a piece of it. WE'RE NOW PROVABLY FAIR. We developed a script to randomly generate a correct amount, put it in a text file, and password protect it. At the conclusion of each game, our script reveals the password to us and we post it on the site for you to check for fairness. If you have any questions to ask, feel free. Have fun, y'all! Title: Re: GiveUsTheBits–a new way to play with Bitcoin! Jackpot every 48 hours! Post by: panjul07 on October 28, 2015, 03:06:46 AM Few questions :
1. Where is the jackpot? I was trying to find it but I could not find it..is the jackpot just the total mount of sent by all players? 2. Is it provably fair game? How and when you generate the number that should be guessed? It should be clear.. 3. No minimum/maximum bet? 4. How if there is only one person till the clock hit 0 ? Title: Re: GiveUsTheBits–a new way to play with Bitcoin! Jackpot every 48 hours! Post by: GiveUsTheBits on October 28, 2015, 07:52:06 PM Few questions : 1. Where is the jackpot? I was trying to find it but I could not find it..is the jackpot just the total mount of sent by all players? 2. Is it provably fair game? How and when you generate the number that should be guessed? It should be clear.. 3. No minimum/maximum bet? 4. How if there is only one person till the clock hit 0 ? 1. The jackpot is just the total amount sent by all players. 2. Not currently; we're rolling out a solution that should be online in a couple of game cycles. 3. Your bet is your guess for what the target amount is, 0.0100 BTC, 0.0101 BTC, ...0.0199 BTC. 4. That person wins 50% of his bet back, minus our 5%. Title: Re: GiveUsTheBits–a new way to play with Bitcoin! Jackpot every 48 hours! Post by: bithasher on October 28, 2015, 08:15:36 PM I think your betting concept is little confuse so how can we know that outcome is provably and nobody was cheated there because it is impossible to read human mind, can you explain about this details how it you will pick up the winner ???
Title: Re: GiveUsTheBits–a new way to play with Bitcoin! Jackpot every 48 hours! Post by: mexxer-2 on October 28, 2015, 08:25:34 PM With 5% house edge, I don't think you'll gain any players considering the fact that there are less than 1% house edge sites like sharpdice which have 0.1% house edge. Combine that with the fact that its not provably fair, you don't have a chance.
Title: Re: GiveUsTheBits–a new way to play with Bitcoin! Jackpot every 48 hours! Post by: Joel_Jantsen on October 28, 2015, 08:30:15 PM So what is winning probability there ? What are the minimum and maximum bets allowed ? The fact only one players win among the rest of the betters is too sad because what if the edge's are not average from either of the sides ? You guys will make money anyway leaving the ratio of players betting to player winning 1:5 assuming 5 is the number of players .
Title: Re: GiveUsTheBits–a new way to play with Bitcoin! Jackpot every 48 hours! Post by: GiveUsTheBits on October 28, 2015, 10:16:35 PM With 5% house edge, I don't think you'll gain any players considering the fact that there are less than 1% house edge sites like sharpdice which have 0.1% house edge. Combine that with the fact that its not provably fair, you don't have a chance. In that case, we'll change house edge to 0.5% starting next game cycle. So what is winning probability there ? What are the minimum and maximum bets allowed ? The fact only one players win among the rest of the betters is too sad because what if the edge's are not average from either of the sides ? You guys will make money anyway leaving the ratio of players betting to player winning 1:5 assuming 5 is the number of players . Your bet is what you think the target amount is. The target amount is on the range [0.0100, 0.0101, ... , 0.0199], so that's what your bet is. The winning probability is 1/100 to get right on the money, or 3/100 to land within one of the target. Title: Re: GiveUsTheBits–a new way to play with Bitcoin! Jackpot every 48 hours! Post by: panjul07 on October 29, 2015, 05:51:49 AM Few questions : 1. Where is the jackpot? I was trying to find it but I could not find it..is the jackpot just the total mount of sent by all players? 2. Is it provably fair game? How and when you generate the number that should be guessed? It should be clear.. 3. No minimum/maximum bet? 4. How if there is only one person till the clock hit 0 ? 1. The jackpot is just the total amount sent by all players. 2. Not currently; we're rolling out a solution that should be online in a couple of game cycles. 3. Your bet is your guess for what the target amount is, 0.0100 BTC, 0.0101 BTC, ...0.0199 BTC. 4. That person wins 50% of his bet back, minus our 5%. 1. So I dont think that it is called by jackpot, it is just a pot 2. You need to focus on this case first, without provably fair mechanism you'll not get players. 3. Oh I see, understand about it 4. A bit confuse, win 50% of his bet back? as I understand it is the same as "lose 55% of the bet amount" i.e I sent 0.001 and no other players bet so I will get 0.00045. Correct me if I'm wrong Title: Re: GiveUsTheBits–a new way to play with Bitcoin! Jackpot every 48 hours! Post by: Everybitbit on October 29, 2015, 05:57:05 AM lol its simple. better open new thread that ask send the bitcoin to the address ;D
Title: Re: GiveUsTheBits–a new way to play with Bitcoin! Jackpot every 48 hours! Post by: Bitinity on October 29, 2015, 06:13:28 AM If there is no one guess the amount correctly, the closest guess will win 50% of the total pot. So how about the other 50%? Will it be yours or will you add it into next pot round?
I think its better if there is no one guess correctly, the closest guess win all the pot. Title: Re: GiveUsTheBits–a new way to play with Bitcoin! Jackpot every 48 hours! Post by: yahoo62278 on October 29, 2015, 06:57:11 AM What if 2 players have the same guess? Will it then be 25% 25% for players and 50% for you? Idont think this is such a good concept the way it currently is
Title: Re: GiveUsTheBits–a new way to play with Bitcoin! Jackpot every 48 hours! Post by: FanEagle on October 29, 2015, 07:12:26 AM I consider this game way to dispersed, there are 100 chances so 99 people will get butthurt.
Title: Re: GiveUsTheBits–a new way to play with Bitcoin! Jackpot every 48 hours! Post by: JackpotRacer on October 29, 2015, 07:22:46 AM http://giveusthebits.com Here's how this works. There's a target value, something between .0100 and .0199 BTC (only the first four digits count). You send your guess for the target amount to the address on the page, and if you guess correctly, you win the sum of everyone's guesses (minus 5%). If you're the closest when the clock hits 0, you get half the jackpot. If you have any questions to ask, feel free. Have fun, y'all! you should copy this one (it was a promo and didn't cost any coins to participate) nice and similar idea like yours but without possibility to cheat ( risk = you could run with the coins) https://bitcointalk.org/index.php?topic=1161448.msg12235820#msg12235820 (https://bitcointalk.org/index.php?topic=1161448.msg12235820#msg12235820) Title: Re: GiveUsTheBits–NOW PROVABLY FAIR WITH 0.5% EDGE Post by: GiveUsTheBits on October 30, 2015, 12:02:37 AM Game cycle 2 is go, and we're provably fair! If you have any questions, feel free to ask.
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