Title: [Block Games] Bitcoin Wallet Auction + Kickbacks (Balance= 1 BTC, High bid=0.3) Post by: EnergyVampire on July 02, 2012, 05:24:59 AM [Block Games] Bitcoin Wallet Auction + Kickbacks (Balance= 1 BTC, Highest Bid= 0.30)
Play for Fun & Profits! BTC Wallet: 1EkXYzFMiHgHDenrjZVcpLYXwiL4aNWye8 (http://blockchain.info/address/1EkXYzFMiHgHDenrjZVcpLYXwiL4aNWye8) Updated: Block 187938 Wallet Balance: 1.00 BTC Largest bet: 0.30 BTC Ending Block: 188000 Discussion Thread: https://bitcointalk.org/index.php?topic=88961.0 The largest confirmed transaction into the pot from now until we reach the Ending Block# 188000 wins all the Bitcoins deposited into the wallet! (Minus the Kickback Pot and my take) It is that simple, Guys. It is an All-Pay Auction (http://en.wikipedia.org/wiki/All-pay_auction) with an early bidder incentive. Auction Rules
Kickback Pot Rules -Each bet has a chance of getting shares. -Shares per bet is (Bet Block - Ending Block) -Each share is worth (Kickback Pot)/(Total Shares)
Winning and payout Example: Player A Bets: 10 BTC Included in Block 187100 Player B Bets: 20 BTC Included in Block 187300 Player C Bets: 30 BTC Included in Block 187300 Player D Bets: 40 BTC Included in Block 188000 Total Deposits= 100 BTC Kickback Pot = 5 BTC Total Shares = 1600 The Winner would be Person D. Player D gets 90 BTC Player A gets 2.8125 BTC (900 shares x 0.003125) Player C gets 2.1875 BTC (700 shares x 0.003125) Player B gets 0 BTC (outbid in same block) Frequently Asked Questions (FAQs) Q1: What if there are two or more transfers with the highest amount? A1: Equal split for the winners. Q2: What happens to my BTC if someone makes a bigger transfer into the wallet? A2: You lose them but you might have a chance to win kickbacks. Q3: Why are you complicating the auction with shares? Q3: As a reward for early bets because the previous auction had no incentive making sniping the optimal strategy. Unfortunately the Ending Block was found in the middle of the night when the potential players where asleep. Q3: Where is the wallet located? A3: Cold Storage Q4: Do I need to post here after I make the transfer? A4: Posting is not required, the blockchain is proof. Q5: Is there a minimum bet increment? A5: No Q6: You've been registered on this forum since January, how come don't have many posts? A6: I like to read more than I like to post. Q7: Who covers the transaction fee of the jackpot? A7: I will pay the outgoing fees. Q8: What is the minimum bet size? A8: 1 Satoshi although you won't win. Q9: Why did you make small deposits before the auction started? A9: It's how I start up the pot. Q10: Can I use a bot? A10: Yes, use whatever programs or websites you like. Q11: I have other questions. A11: You can PM me or post them here. Previous Auction: https://bitcointalk.org/index.php?topic=88961.0 Comments, questions, and suggestions are welcomed! Cheers and Good Luck! EnergyVampire Title: Re: [Block 188000] Bitcoin Wallet Auction + Kickbacks (Balance= 0.9995, High bid=0.3 Post by: EnergyVampire on July 02, 2012, 05:25:42 AM Updates:
[Block# 187000]
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