Bitcoin Forum

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Another one of those...

House edge is (first number is number of buys of the bounty):
1st   80%
2st   34%
3st   19,47%
4st   12,77%
5st   9,15%
6st   7,02%
7st   5,72%
8st   4,89%
9st   4,36%
10st   4,01%
11st   3,78%
12st   3,63%
13st   3,53%
14st   3,47%
15st   3,42%
16st   3,39%
17st   3,37%

how to play ?

I did a couple of low "bets" on the BTC Bounty which paid off (less than 1 BTC) - money was transferred straight away, so I'm happy.

But looking at the LTC Bounty - currently 169 LTC - I fear that the current owner will be lucky to get rid.

Can we not have FTC included? I have a few thousand that are looking to be frittered away!  ;D

cool idea I wish you the best of luck

Well I lost a bit on BTC today, but have had a couple of small wins previously and another small win just now.

So I can't complain! :-)

I dont believe its 90% chance because I LOST ON THE FIRST TRY.

You're awesome! Thanks!

profitable for you? maybe. profitable for the gambler?  No way.

Interesting idea, but you should really be a little bit more careful in your FAQ. Just because you put an answer in there does not make it true.

Your answer to the first question obviously can't be true. Everyone who plays over the long term will lose. Claiming that it's "profitable" is like saying that because you might win any particular pull of a slot machine, that gambling is profitable. Or claiming that the Martingale strategy in gambling is profitable because you win the majority of your sessions (it's just that the times you lose are huge in comparison to your much smaller winners).

And the site fits the definition of a pyramid scheme pretty much exactly: it's not sustainable, and the people at the bottom are essentially feeding money to those at the top in the hopes of collecting money from future participants below them. Casino games do not operate under this model and are simple games of chance (albeit with a house edge, obviously).

Can you publish source code so we can know its 90% odds to win

.... bitcoin a world of card games

90% win is obviously false, the chance to win depends on how many people play this gamble (and are paying high sums).
Why did I bother to calculate house edge, if everbody seems to ignore it :/
Even if it's bought 17 times, the house edge is still over 3%, while Satoshi Dice is always 2%.
If it's bought 5 times or less, the house edge is terrible high.

Or let me translate my house edge calculations: It's a bad idea to play this game.

i tried it and I lost first try WTF??

The odds have suddenly changed from 20% consolation

today - it says a consolation prize of UP TO 10%

Kinda just chucked in there

No warning, no explanation or what "UP TO" means

So, 1%, 2%, 3%, 4% ....?

Firefox is so crap -

I checked in Chrome and when you hover over the "consolation prize up to 10%" it says:

"consolation is equal to the increase rate minus the interest rate"

I don't quite understand what that means in real terms - can it broken down for people like me?

I did a Google Cache and it shows the consolation prize as 20% this morning!

 

Dunno what you guys are talking about but I've been playing a few weeks and have made about 5 BTC so obviously you are doing it wrong. Stop trolling people away from the site just because you lost a round. Boohoo my puppy cries ultimate tears of sadness for your lost coin.

On a side note, I used my winnings to buy myself a Xoom ;) so suck it.


BTW it's called "gambling" for a reason. Sometimes you lose.

The fact that this is posted in the newbie section makes me immediately not trust it. Why not spend some time building a reputation and then post it in one of the regular forums? Anytime a new user comes in and says, "hey, give me money", it's hard not to assume that it's a scam.

Sockpuppet of OP?

I'll sock your puppet.... Of course not nerd. Whys everything gotta be a conspiracy with you people. grow up.. you probably arent old enough to gamble anyway..

I still don't get how this thing works...

Fun game, I like it.

It's easy, you buy a bounty, if someone buys it then you win your money + a profit. So its about guessing what the risk is worth to the next person. It's pretty fun and if you do it right your losses will be minimal. Right now it seems like people are just flaming it because they lost and they dont understand that the point of gambling is to risk with the possibility of taking a loss. I've lost a few BTC but i've gained more than i've lost so i've taken a profit.

1.2x is the least risk for the least reward
2x is the highest risk for the biggest reward

the multipliers also dictate the increase of the next bounty in the tier.

For instance. a 5LTC bounty at 1.2x will rise to 6LTC for the next buy

EDIT: Looks like i won another .2 BTC since the post before this one. So yeah... it's not a scam

I don't see how this could help a person

er, it's gambling. It's not meant to "help" anyone its for fun

Disclaimer: Bitcoin games are not to be used for investment purposes. Play smart, have fun.

Hmmm

WARNING

I played the 50/50 game yesterday - had a bunch of bets over an hour, one after the other - but just small amounts, e.g. 0.25 - 1

I seemed to be doing well, and estimate I had more wins than losses

Only thing is, there are a lot of wins that I received no payment for. So now I'm out of pocket and so far no reply to email.

The prgramme asks after every bet if you want to play again, but clearly it gets confused when you take it up on the offer.

Hopefully CryptoBounty will reply to my emails today

Shame because otherwise it's a nice little game

so I have a reply saying "I am sorry you are unhappy with the odds"
and "a request is automatically sent to process your bet and send you your money"

Well clearly I am not unhappy with 50/50 odds - just that the "programme" is clearly malfunctioning

So it seems that I am clearly not getting a refund, or that Cryptobounty is actually capable of checking his own programme to look for the truth of the matter. His evidence is based average payouts. I received an averarge payout, so that is good enough for him.

I game him 2 hours to pay up after he said the case was closed. If he didn't, then I would reveal my experience with his service.

His response is to accuse me of blackmail!!

Then he tried blackmailing me by threatening to publish my emails.

So Cryptobounty, if you're looking in, are we going to see those emails now?

BEWARE of this guy.

NB - This is for a piddling sum - something like 7-10 litecoins, and I am personally only about 4 litecoins out of pocket, so I am not a disgruntled gambler that blew the family fortune. I just don't like dishonesty or people thinking they have no responsibility other than taking your money.

seems a bit like a pyramid scheme

Dude... cryptobounty is your site? I'm merely looking into your game so am not going to say anything about it. After all, what you say is right. It's GAMBLING. But honestly your being a bit of a dick posting about how you won on your OWN game, and about how your OWN game is not a scam and how your OWN game is so great.

Play his game if you want, but don't listen to this guy

One of my payments didnt go through in time so bounty was free again but my coins sent, mailed the OP but no reaction after 24h - use with caution.

Will wait another 24h  :-\