Bitcoin Forum

What is this?? Can u explain how to play this game..

I updated the main post with further instructions, and added a link to the FAQ. If you have any questions, post here or email us at bitpotsofficial@gmail.com .

just to let you know I signed up just now and got your email in my gmail spam folder. why is that?

Its not really clear on how to play the game. You might want to update the site with a more descriptive explanation for playing the game. What does the time mean, below the 3 pots?

Agree we need know how to play this game and what benefit this game

Thanks for the tip --- I'll be getting our devs on this snap.

EDIT: I've created a more indepth page here: http://bitpots.com/htp.php
If that hasn't done the trick, can you guys tell me what you don't understand? --Thanks.

guys send the coins first and ask later  ;D

no house edge lol only 5% fee..............

I asked why i got verfy in gmail spam folder and no answer. thats strike 2

As it stands, I don't know why the verification email goes to spam. I'm having a server specialist come in and setup a mailserver for us tomorrow.

So it is a lottery type of game, and the only winner will be able to get 95% of the pool, right?
But I can't find how the winner is determined.

We take 5% when you deposit it into the site, after that we take no more fees. The winner is determined by the following process:
Say player #1 puts in 10 BTC, #2 5 BTC and #3 15 BTC.
#1 owns 33.3% of the pot.
#2 owns 16.6% of the pot.
#3 owns 50% of the pot.
And they have these chances to win:
#1: 33.3%
#2: 16.6%
#3: 50%

Say like in your example, there are only three persons playing and they have a 33.3%, 16.6%, 50% chance to win respectively.
What are you going to do exactly to determine the winner? Is the process provably fair?

At the end of the timer, a random BTC amount is generated between 0-and the total balance of the pot. If that numbers falls within the amount between the balance before and after you deposited, you win.
Example:
Player #1 deposits 0.1 BTC.
Player #2 deposits 0.6 BTC.
Player #3 deposits 0.3 BTC.
Player #1 deposits 1 BTC.
The tally is 2 BTC, and so a random 8 decimal precision number is generated between 0-2. Say that number is 0.45682849.
Player #1: 0-0.1
Player #2: 0.1-0.7
Player #3: 0.7-1
Player #1: 1-2
Player #2 wins.
I did some research into being provably fair, My developer made it use a cryptographically secure php function to generate that number.

Hmm.. it seems just like lottery

And min withdraw and min. deposit ?

what is the different between 1-hour, 12-hour, and 24-hour pots. ??

I believe the lottery will be drawn once every 1 hour, 12 hours and 24 hours respectively for the 3 games.

please explain ELI5

I see,
so if I want to see a winner quickly,
I just deposit at 1 hour pots

---

total amount to that pot was BTC 30 (10+5+15)

so the chance of winning for:
 
owner #1 : 10/30 = 1/3 = 33%
owner #2 : 5/30 = 1/6 = 16.6%
owner #3 : 15/30 = 1/2 = 50%

@s1ng It's a lottery funded by our fellow gamblers. No minimum withdrawal. Minimum deposit is 0.0002, as that is the blockchain transaction fee.
@s1ng Yes, if you want faster, lower winnings, go for the smaller pots. The long ones tend to accumulate more, though.

@Chemistry1988 Correct.

@elm What is ELI5?

May I know what is the minimum withdrawal and deposit? How much time would it take for both?

now if you will give us instead of % the real numbers it will be better understandable IMO how much each one will win especially owner #2 actually no one will win any coins here hmmmmmm or what did I miss here?

ELI5 = Explain like I am 5

@Litecoin Boss, Minimum deposit is 0.0002 BTC(blockchain fees), no minimum withdrawal. Withdrawal is instant, deposit takes 4 confirms(so ~1 hour). We should be going instant in the future, I'm just looking into the safety of it.

@elm You got the math right. Your pot's worth/total pot is your chance, and is shown below the pot, real-time. I'm fairly certain I'm missing something in this response, can you elaborate on what you don't understand? Thanks.

please give me the winnings of each of the 3 participants in btc and not in %

total amount to that pot was BTC 30 (10+5+15)

so the chance of winning for:
 
owner #1 : 10/30 = 1/3 = 33% = btc?
owner #2 : 5/30 = 1/6 = 16.6% = btc?
owner #3 : 15/30 = 1/2 = 50% = btc?

@elm The entire pot is given to the winner. So 33% chance of winning all 30 BTC, etc.

confused

3 participants
5btc
10btc
15btc
-------
30btc

and the winner gets 30btc  ???

From the FAQ page: "Where do you make your money? We collect a 5% fee on all deposits. There is also a .0002 fee from Blockchain."
So, I believe the winner will get 28.4998 (=30 * 95% - .0002) btc.