|
Title: idea for a new coin Post by: Bitcoin Magazine on April 05, 2014, 03:33:43 PM start at a value (say 0.01) then double each block
block 1 - 0.01 block 2 - 0.02 block 3 - 0.04 block 4 - 0.08 block 5 - 0.16 block 6 - 0.32 block 7 - 0.64 block 8 - 1.28 block 9 - 2.56 each block is worth the same number of coins (0.567 bitcoin). however, if we quantumly bet a block on Satoshi Dice. then we are only risking 0.567 bitcoins. if the block we lost is above 6 we lost money, if it is below 7 we lost if we win, each block is now worth double (1.12 BTC), if we lose, we must reshuffle the block chain so if we lost block 9, our quantum block would be down to 0.28 bitcoins if we lost block 8, our quantum block would be down to 0.425 bitcoins if we lost block 7, our quantum block would be down to 0.496 bitcoins .. etc.. so basically by betting 100% of our money, we will either double are money, or lose fractionally. it's a win win ;D lets examine the worst case scenario where the quantum block is worth only 0.28 Bitcoins then we bet again the 0.28. and win, we get back to where we were before :o if we lose, then we will only accept a fractional loss 50% if it is the final block, 25% the previous, so u can see where having a large number of blocks than 9 is totally worth it |