Bitcoin Forum

Ok this is a pyramid scheme and it will collapse and some people will lose out.

The difference here is that everyone has an equal chance of being on the first few levels of this.  I won't open it until 8pm (London, BST) Monday 4th July.  Any payment sent before then (above 0.01 BTC) will be returned.

All you have to do is:

1) send any amount you want (+0.01 BTC for the transaction fee) to


2) Wait to be paid out double what you put in.


People get paid out as usual, in order of joining the game. If the first person deposits 2BTC then they get paid out when the pot has built up to 4BTC, and this continues.  The game will run until there has been no activity for a week (if that sounds reasonable).

I'm posting this now so people can bookmark the thread to try and get in first.  You can also get any of your friends to join to try and make sure as many people get paid out as possible.

Another advantage of starting on Monday is that if there are any issues that people want to discuss, we can.

I will post all activity on here and when you get paid it would be great if you could post to confirm.  :)

UPDATE:  Here's the spreadsheets:


https://spreadsheets0.google.com/spreadsheet/pub?hl=en_GB&hl=en_GB&key=0AmcHoqQeOcSTdGQ1X2oza1dOR2NrYnhISVMyMWM2bXc&output=html (https://spreadsheets0.google.com/spreadsheet/pub?hl=en_GB&hl=en_GB&key=0AmcHoqQeOcSTdGQ1X2oza1dOR2NrYnhISVMyMWM2bXc&output=html)

http://blockexplorer.com/address/1MdgxZurg1Tr9zLWrSXntJG1kNdhy56wxf (http://blockexplorer.com/address/1MdgxZurg1Tr9zLWrSXntJG1kNdhy56wxf)

Just to clarify, do you really mean 8pm GMT?  Or do you actually mean 8pm BST (British summer time)?

 :P I meant 8pm in London on Monday and yep, it appears to be summer now...

I shall edit my post, thanks!

I have bad experience with these pyramid games with a preset start time. It's just comes down to a reaction time contest. I once sent within 30 seconds of the start of another game, but still didn't get paid.

Also how will you know that the time has started? If someone sends 20 seconds before 8 o clock because of their watch being wrong, will they be accepted?

to confirm the start time, I will post that the contest is open some time between 8pm and 9pm.  I also will not refund any early payments made within an hour of the time I start it.  This should eliminate any close calls/guessing when it will begin.

This is one of the advantages of a predetermined start time, we can work out things like this  :)

Don't use your watch.  Use an Internet time synced (http://en.wikipedia.org/wiki/Network_Time_Protocol) computer clock.

A better way of enforcing the no early bets rule is to have a Google Docs document or spreadsheet where you will post the address.

This is a good idea, I'll set this up on Saturday and post the details.

Ok, I decided I will just post the address in this thread somewhere between 8 and 9 UK time tomorrow evening.  Any more comments or questions before it begins, just post them here.

And a reminder that this will open today.

If you read the first post I'm pretty sure you could figure it out.

somewhere between 54 minutes and 1 hour 54 minutes from now  :P

OK this is now open!

Get in fast for guaranteed payouts.

So, according to the spreadsheet, the first entry was at 19:16?

that data is from the address viewer thing.  It's just for reference, not the actual time.

If this doesn't get updated at all in the future it is because I live in England and have a job.  It will all get updated and paid out when I'm up/home.

Could you update the spreadsheet and do my pay out please? :)

Hey

Let me guess... you sent in both the 1st and 3rd entries?

yes :)

Hmm, did the guy just disappear after starting this

That's why you should play automated games :P

Ok, now it's obvious it was a scam. He stole my 6 BTC and 2 BTC of another guy. All the remaining pot came to a single address which did not participate in the game. He's been online since that but did not update the sheet and did not reply to my PM's.
I'll report to the "beware of scammers" topic.
Never play with this guy :)