Bitcoin Forum

Examples
1. Bet 1BTC on UP for 10 hours, GBP/USD. Payout = 1.6BTC

2. Bet 1BTC on hitting 440$ in 1 week. Hit 440$ on 20th. Payout = 1.5BTC to 1.8BTC (variable)

3. Bet 1BTC, the price will be above $300 on 23rd, payout = 1.2BTC , or will be above $375 = 2BTC

for $300+ on 31st = profit is 1.25BTC, for $370+ = 2BTC


Post below for the exact win payment.

Dont u think that similar concept was first implemented by UpDown.bt ?

So you say that its 40% house edge? Am i missing something?

What do you think of this: I bet that the bitcoin price according to preev.com will be above $250 on december 1st. If I bet 1btc what would I win?

You might as well host these on BetMoose.com - it'll be way more clear and people can pick the options they believe. You can make a single bet with 5 options (ranges) of the price next week for example. Plus it's almost free (2-3%) and you get 100% back if the bet goes unmatched.

Hope that helps

Updown.bt offers just my 1st option type of bets. You can bet up or down only on CURRENT PRICE. And it offers limited instruments. (Planes and all that stuff is pure luck, and cannot be included as a strategic bet.)
Type 2 and 3 are different.




House edge is not 40%. You certainly have a more chance of winning if you have enough sense. You are not to bet blindly on it. Please see http://www.investing.com/ before making a bet in currencies or forex.




The price is taken as the average. If the prices are unusually closer to your bet like you bet $250 and it is 257 or 243 etc. I will provide proof if you lose.
Please note that, I use your bet to make bets in particular site. So currently, the payout is 1.1BTC. 10%.
1.2BTC for 275+, etc.




It is a PvP. In this case you can bet that the price will be above say $300 on Nov 30. But if I open a bet on the site, no one is going to bet it will be below $300. So, I am sorry, I cannot use your site. Plus it will be weird to start so many bets.

This looks great, but have you figured out a good formula to determine the return rate automatically?
I guess many people won't enjoy playing the game if they have to first send you a PM to ask for it and wait for hours to have you log in and reply. :)

Thanks. for the positive comment :)
Just ask for the bet, and I will say the return. The formula is pretty complex. I will be monitoring the thread for around 12 hours a day. If anyone actually shows interest, I can put a bitcoin address and ask them to send their bet with comment/note on the bet if possible.

Minimum bet is 0.1BTC?

Yes. It is.

hmmm it seems to be difficult to determine the price and range

Why this is more profitable.

In bet type 1), A bets 1BTC on UP for 12 hours. and B 1BTC down for 12 hours.

If you bet directly, the amount you will get is approx. 1.75BTC on win.

But if you bet through me, I cancel both of them out, and place just a 0.001BTC bet on up and down to know the winner.. The winner gets 1.9BTC (10% will be my commission and for expenses.)

Do you plan to open a site for this, or do you intend to do it manually on the forum. I might be interested, after you list out what possible bets exist.

manual. types of bets listed above as 1), 2), 3)  in opening post.

Can we escrow the bets? Its just because, I don;t trust anyone with my money. The escrow, will send the amount to whoever wins.

Yes the idea of the escrow is  good ,  if you want I can provide an escrow service (I am always online).  However great initiative ;).

Escrow is okay. But so I will be betting with my money on the player's behalf. And the bet will be delayed.

No problem with me anyway.

I think this is a very large amount for people to be gambling with. Most gambling sites have much lower minimums so people can get comfortable playing and so they can play for longer. I don't think many people will have a bankroll that can support this sized bets regardless of the time it takes to determine if a bet is a "winner" or not

Ok , if you want you can send me a PM ;) .

What was the site you would use? Feel free to PM