That just sucks!! How long was mybitcoin down tonight? Will have to actually create my own payment system if this continues.

This is wrong, it's actually opposite. It's more money spent in this bubble than ever before, here is why:

First, let's convert jackpots into $ (the value on date they were won):

Date		Won
April 28th	-	$97
May 24th	-	$335.5
May 27th	-	$242.5
May 31th	-	$82.6

If we calculate daily jackpot volume, this is what we get on avarage added to jackpot:

April 19...April 28	=	97/10	=	$9.7 daily
April 28...May 24	=	335.5/27	=	$12.42 daily
May 24 - May 27	=	242.5/4	=	$60.6 daily
May 27 - May 31	=	82.6/5	=	$16.5 daily
May 31 - ?	=	37.86/1	=	$37.86 daily

I think it's a psychological factor in play here. As you can see, we are still doing amazing-

But wait, there is more... I have stored in my database every single incomming spend sinch launch and I have used this to generate a graph.

The following graph shows you how much $ that was spent (per day) in the bubble. As you can see, the incoming $ has increased to levels we have never seen before.

Daily amount of $ spent at btcbubble



This is the thing about deflation, it looks like the jackpot is going down, less money in the game etc... but it's not true at all.

But could it be that people are spending more money in the bubble, but less people watching it?

Well, according the the traffic stats it's not less popular.


As we can see, the jackpot and daily spends has been exploding in value since launch, and the traffic stats tells us a similar story.

Maybe it's time we make this a lot more visible, by adding $ in parentheses? Who knows? What you guys say?

More activity is always awesome! It helps to tell everybody you know about it and place it in your signature, but just participating and making every round slightly more exciting than the last is ultimately the greatest factor I think.

I had someone trying to do the phpMyAdmin PHP Code injection exploit on my site, somebody trying to guess path names, jQuery XSS exploit, I'm sure there has been a few mysql injection tries as well, but I haven't studied all logs yet.

That's basically what he is saying, he claims that 32 times marginal electricity cost is unsustainable.

For instance:
Today: $0.25 * 32 = $8 each bitcoin (unsustainable)
In 64 days: $25 * 32 = $800 each bitcoin (unsustainable)
In 64 days: $25 * 1 = $25 each bitcoin (fair)

If this is true, $8 today is a steal.

He is arguing that the price in the long term will equal costs to produce a bitcoin, which is obvious. As long as it's crazy low price sale on bitcoins (mining) more people will continue to mine until the marginal electricity costs equals price.

That said, I think the conclusion is false. He is assuming that difficulty will continue to increase, but that's not necessary the case. And if it is people might end up losing money. It's not set in stone that price will follow the costs of producing bitcoins, in fact it's quite the opposite! Difficulty follows price. Hence we might see the price of bitcoin falling below price of producing. At that point I think it's fair to assume the difficulty trend will change and possibly reverse until price and costs reach equal.

Price determines costs, NOT the other way around. But he is right that they should eventually be equal.

Might sound like a good idea at first, but assuming you want to calculate current usage based upon the weighted amount of transactions there will be incentive for hoarders to simply send all their bitcoins back and forth between their own wallets to avoid generation of new bitcoins.

kjj:
I think he is saying that if you can buy 1 btc for $0.25 from A and sell 1 btc for $9 to B, people will buy like crazy from A until A has raised the price to $9.

I agree with you guys it's a bit too long with 1 month. I think around 2 weeks is good. Making timer 9 hours was actually a mistake, was planning to start at 8. Then decrease 1 hour next day and so on. But this will be better once I get it dynamic (will be done sometime in June). Maybe I should create another bubble too that's more quick, fixed with 30 minutes timer.

It seems Operation Fabulous was down earlier and that caused this... I will try to get this Operation Fabulous thing to load after page has loaded if possible. Please let me know if you are still experiencing this issue though (since Operation Fabulous is up now it should be ok... )

Nope... you only need private/public keys to store your coins and they are stored in your wallet.dat file. The block chain is needed to verify spends etc.

Another great site! But I agree with the rest you should implement proof, it will make more people willing to spend.

Congratulations to the winner "18TGqdtXZKMWLbu7aX4nkc5o6q5ei7NZwu" of 47.27 btc (330$), who is that? 

Correct. There are currently 201.2967 btc needed to burst all bubbles. Now let's take tomorrow as an example: 0.2 btc per spend, 1 hour timer = minimum 4.8 btc per day. At this rate you will see the current last bubbles bursted in 201/4.8 = 42 days. If we imagine the timer reaching 30 minutes (which it will eventually) and minimum spend 0.5 btc the calculation will be: 201/(0.5*2*24) = 8 days. Will the jackpot expire before then? Probably. Do you have the power to make it not expire? Yupp. Will you lose your money? Who knows The chances of losing money is also dependent on your strategy.

Minimum spend will be raised to 0.20 btc tomorrow if the bubble is still going.

There's no such thing as "last fool" in btcbubble, however there are "2nd last fool" if that makes sense. If you didn't spend last and your bubbles wasn't bursted before the timer reaches zero you will effectively lose those coins and are left with whatever advertising benefits those bubbles have gained you while they were still being displayed. That said, as long as you keep hunting the jackpot the odds of your bubbles bursting will increase, but so will your investment in the bubble.

I have changed timer to 1 hour. Should be pretty exciting! I notice we had several close ones lately, even one with 4 seconds left! So let's see, will we manage a few days with 1 hour? Seems like a lot of people are watching this bubble now compared to first round where it expired at 5 hour timer!

Not ready to open source it, but I'll let you see the relevant methods...
http://pastebin.com/4VSrTCcf

I'm using the Kohana Framework so please don't go bananas if it looks like i didn't secure it, cuz i did. And sorry for the mess, was never my intention to make this code public... 

I also agree, unfortunately it's not that simple to implement because of the way it's coded. I will keep this in mind though and maybe just re-code that part of the script eventually. Really like the idea!

Great, several days with 4 hours, I have now changed timer to 3.

Yupp, it was set to 5 hours.

Whatever happens to mybitcoin is outside of my control, so please make your spends in time. Obviously if that becomes a problem I will have to switch to the bitcoin server.

The way I see it, people all around the world can play. So what's night for you might be in the middle of the day for somebody else. In fact, I was watching the jackpot timer reach 0 the day it happend, I wasn't able to spend either at that time since I wasn't home. But it was in the middle of the day, like 2pm.

It seems now there are more players here than in the first round, which is a good sign. We managed several days with 5 hours, so now we'll do 4. Eventually it will be 3 hours, and I will probably reduce it until 1 hour. It will be won, maybe you're the one this time, maybe not. It's not really a better way to do this as far as I can see, well except from making it fully automated, something that will be done.

I'm sure many wants the jackpot, it's amazing now it's actually worth 340$....

Timer has been reduced to 4 hours.

It has always been 150%, but when the game is hot and you're getting bursted it might feel like a lot more 

With current bitcoin prices the jackpot is actually worth 224$ WOW!!