Bitcoin Forum

I’m thrilled to (finally) announce the launch of BtcBuckets (https://www.BtcBuckets.com (https://www.BtcBuckets.com)) on the Bitcoin network! For those who haven’t checked it out, BtcBuckets is a Bitcoin based instant wallet, distribution and microfinance utility. To celebrate, I’m giving out a five BTC over the course of the next 12 hours. The money will be distributed in small increments to the following buckets:

https://www.btcbuckets.com/buckets/aVmAh8dgIUzV1kONTF9rG2FvbKrrW/ (https://www.btcbuckets.com/buckets/aVmAh8dgIUzV1kONTF9rG2FvbKrrW/)
https://www.btcbuckets.com/buckets/ay79tawccNfTdNp8QT58HBZRODjcK/ (https://www.btcbuckets.com/buckets/ay79tawccNfTdNp8QT58HBZRODjcK/)
https://www.btcbuckets.com/buckets/aldijfb0dNABVEze7KCBLUtLGjeXD/ (https://www.btcbuckets.com/buckets/aldijfb0dNABVEze7KCBLUtLGjeXD/)
https://www.btcbuckets.com/buckets/avaEkZMxzRC8TjRwJX0qq84SaeOT7/ (https://www.btcbuckets.com/buckets/avaEkZMxzRC8TjRwJX0qq84SaeOT7/)

All you have to do is be first to claim it. You can see how much money is left to be handed out here:
https://www.btcbuckets.com/buckets/ppDeIQuumpK6EV2ktk06GyI0IIyJ6/ (https://www.btcbuckets.com/buckets/ppDeIQuumpK6EV2ktk06GyI0IIyJ6/)

For those that aren’t familiar with the system, a bucket works much like an instant wallet. Money can be sent and stored in a bucket. Spouts allow you to send money from a bucket at timed intervals. This opens up a bunch of interesting possibilities. Check out some potential use cases at: https://www.btcbuckets.com/uses (https://www.btcbuckets.com/uses)


Feel free to play around with buckets, the system allows for over 88 Quintillion unique buckets. I think you’ll find they open up a ton of new possibilities for what can be done with Bitcoin.

TL/DR:
BtcBuckets is live. Free money. A bucket is like an instant wallet. A spout sends money from a bucket.

Promotion's over. Thanks everyone!!


As always feedback is welcome at greg@btcbuckets.com

Does or will btcbuckets use multitransactions?

It doesn't right now. I do plan on implementing it if I ever get enough users to make it worthwhile.

Ok, seems like it will take some time and maybe some marketing to get your site to have more users.  (It took bit-pay a while and they are still working on it.)

Don't give up if you don't get a lot of users initially.  I think if you can make it run itself you don't have to put much time into maintaining it.

Thanks for the encouragement...I'll do my best to keep it up.

I am aware that the site's running slow right now...not too much I can do about it at the moment, I underestimated the amount of traffic it would get.


Edit: Should be back up with expanded capacity.

Expect some traffic.  The operator of InstaWallet has announced that the service will be shutting down.
 - https://www.instawallet.org/static/notice.html

One of the challenges InstaWallet faced was performance problems using bitcoind with so much activity occurring.  Is BtcBuckets going to be able to scale?

At this point, I don't know. There are a couple ways I can use multiple server instances to run multiple instances of bitcoind, but it would take time to implement and would cost more money to run.

In other words, I'd have to make a game time decision if I'd want to spend the money/time, if I end up with more traffic than the site can currently handle.

What happens if I click "lock" without first setting up a spout to be able to withdraw the funds?

You can still do sends unless you've specifically disabled that option.

I see.  I didn't realize Instant Send was still and option after locked.

That still leaves a method that you'ld have a bad bucket though. 

1.) uncheck "Allow Instant Sends"
2.) lock
3.) Click the "Fix Spouts"

The end result is a bucket that can receive but no method of sending is possible, right?

Just an FYI -- It appears the number of confirmations before the funds appear as being available is three.

And there is a wiki page for this now:
 - http://en.bitcoin.it/wiki/BtcBuckets

Yes that's correct. It's done that way by design to allow people to have no control themselves of the money. People may want to set things up this way for legal reasons. That being said, once a bucket expires, you can do instant sends again.

Thanks for working on the wiki!

The site doesn't seem to display full precision on the numbers.  If my bucket has 0.12345678 BTC shouldn't it show that number, rather than 0.12 BTC?

Just mouse over the truncated number for full precision.

Nice.

Yes, well, apologies all around.

To anyone that has money with BtcBuckets, please withdraw it at your convenience. The money will not be sent immediately! I have to do that manually, but I can't know where you want the money to go until you try to send it somewhere.

Thank you all for trusting me with your money and I'm sorry things had to end this way.

EDIT: Please be advised that the home page is disabled. Just go directly to your bucket.

Hmm. Can you tell us what's going on?

Yes, I found a glitch in my software that I can't fix right now. I'm returning everyone's money. The glitch caused money to be sent to people twice. I caught it early so I only lost 25btc, which I'm personally reimbursing.

:(  sorry to hear that bud!

oh nooo

Thanks. I worked really hard on that site. But look on the bright side, it could have been a lot worse.

why are you quitting? you only lost 25 btc..

True. But it's going to take some serious time to fix the problem. And that's time I need to be spending focusing on my career (or lack thereof) at the moment. Plus holding other people's money is definitely not for me. Too stressful. At this point I'm hoping someone else will consider implementing some of my ideas.

Thanks Bucket!

Open source it

It's pretty likely that I'll open source it. I would have to clean up & document the code better though.

Rest, you've done enough work