Bitcoin Forum

Hello everybody!
I've been lurking around on this site for a while and thought that i should try to contribute with something to the Bitcoin community. That's why i started this site where you can bet on what the Bitcoin price will be every week. This is only for fun so i won't be taking any fees.
Here is the link: Bitcoinspeculate.com (http://Bitcoinspeculate.com)

Text from the site:

How it works
What is Bitcoinspeculate.com?
Bitcoinspeculate.com is a virtual betting site where you can bet with Bitcoins on what the Bitcoin price will be every week. You only bet against other people and there are no fees incuded which means there is absolutely no house edge.

How does it work?
On the front page you see prices and addresses. If you want to bet Bitcoins on a price just send your bet to the address next to the price. The bets are accumulated in a pot and the bet closest to the closing price wins the whole pot!

What happens when several players bet on the winning price?
When several players bet on the winning price, the winnings will be shared proportionally. For example if Player 1 bets 0,80BTC on the winning price and Player 2 bets 0,20BTC, then Player 1 gets 80% of the winnings and Player 2 gets 20%.

What happens if the closing price is exactly between 2 prices on this site?
If the closing price ends up exactly between 2 prices, then all bets on both the prices are considered winning bets.

What happens if nobody is right?
If nobody bets on the right price there are still winners! The bets closest to the winning price will win all the accumulated coins.



If you like the idea but feel that it can be better you are free to give your opinion and i will try to make changes to it.

Interesting! How are you determining each tier? Design of it should be improved.

I don't really understand what you mean by each tier? Sorry but english is not my native language. Yes, i know about the design but i first wanted to see how popular it becomes before i put much time on it. If people become interested in it i will make many improvements like design, daily bets and maybe a litecoin section.

Like how one address has a range of $10 while another $1. I know why it's done but this should not be arbitrary set.

Also, I don't think this will get much volume. There's bitcoin futures already - mpex/icbit.se

I just want to spread it out as much as i can. If you have a better way for spreading prices just tell me and i will change it. Also, i don't think this is like futures. This is more for having fun. That is why the bets are showing on the site just so people can play against each other. But i'll try this for 2 weeks, if i don't become popular i'll skip the idea. We'll see.

About 1,5 hours left to place bets!