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I'm not saying this is intentionally a scam, but there is no mathematical way I could have run as badly as I did. Something is rigged in this casino, either by design or by carelessness. Buyer beware.
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For that to happen, ties would need to be quite common. Other than that you've the tie bet. This game doesn't give the house a quite good edge as blackjack does, it's true, as odds are roughly 46,3% to both sides.
Still, the amounts in play may make you sure that you'll always come out with your watch, wallet and shoes.
Do you take a commission on won ties? I bet 10 BTC in play money, tied, won, then got 19.90BTC back. Yeah, I've been playing about 10 min, and he takes 1% of the initial wager (not the 2x wager, just the initial 1x wager) any time you go to war, win or lose. Still, that doesn't come close to overcoming player winning ties. (I'm going to play a bit longer to confirm that players DO in fact win ties, and then I might deposit. After that, I might quit my job.) Either I'm running really bad or there is severe riggage. |
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For that to happen, ties would need to be quite common. Other than that you've the tie bet. This game doesn't give the house a quite good edge as blackjack does, it's true, as odds are roughly 46,3% to both sides.
Still, the amounts in play may make you sure that you'll always come out with your watch, wallet and shoes.
Do you take a commission on won ties? I bet 10 BTC in play money, tied, won, then got 19.90BTC back. |
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noamyoungerm, I think the opposite is true. Open source means "everyone" knows the rules, so it's harder to rig the system.
graingert, Sorry. I'm only coding an alpha version right now and I want to protect my work. I'm not very experienced in terms of managing (large) open source projects. If you want to help me out with advice on how to do things correctly, please let me know. I need help with this project, so hopefully I can assemble a core team containing someone with more open source experience.
thanks to both for you input. 1luv.
If you found a flaw, there is a huge profit motive to exploit it (unless the flaw is in favor of the house). |
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I suspect fake sales are driving down BTC. Examine large spikes that hardly move the price that also use ‘Dark pool and normal’. Co-conspirators or one person with fictitious accounts…. Wish I’d thought of it.
How can you do that? I don't quite understand how this would work. |
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Also, don't go bitch to MagicalTux (the operator of mtgox)... with the low volume of the exchange, 0.65% is reasonable. Once the volume is high enough, I bet he'll lower the fees. However, he has to cover (very high because of DDOS attacks) costs.
$60,000/month? |
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Someone just cleared a huge order.
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I'm hoping a slide down to 5$, hopefully even 4$, but not much more than that.
You intend to snap up some coins at that price range? So what does everyone think is the strongest reason for this massive selloff? Increased difficulty means miners need to sell more to cover cost, and my guess is some major buyers are not buying anymore (already got their investment). |
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Unless you offer some technical advantage/distinction why would one participate in your network/economy?
Same reason they join Bitcoin - speculation. |
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If you like throwing money away, I'll sell you mine at $7.
Find me when you want to dump them at $5. It could happen tonight. This is where the rubber hits the road. Those who are in it for the long haul will stay in until the bitter end. The profiteers will drive the price down so that we can buy some cheap coins. Interesting theory. Not very sound, but ok. I don't plan on dumping at $5 unless something real bad happens that would justify it. I know I'm gambling based on there actually being a use for them. |
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That would have been off the wall hilarious if the original comparison had been the Special Olympics. :-)
" and tonight, in what is considered to be the Special Olympics of the Nobel Peace Prize, New York Times writer Paul Krugman wins for his understanding of economics."
He's not retarded, just crippled. |
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Bitcoin drops in value to the point where laszlo was better off with the pizzas after all.
LOL. |
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Who cares about last year, I bought yesterday  Actually, I really did buy yesterday. Good thing I'm more interested in BTC than profit. : ) If you like throwing money away, I'll sell you mine at $7. |
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Krugman's "Nobel" prize isn't even a real Nobel prize. The Economics prize has NOTHING to do with the organization that awards the other Nobel prizes. It's awarded by the Central Bank of Sweden.
Seriously? I did not know that! No wonder why such an incompetent "economist" won it then... haha, the "economy Nobel prize" is given by a central bank.. how ironic... Wow, I didn't know that either. From the horse's mouth: The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel
In 1968, Sveriges Riksbank (Sweden's central bank) established the Prize in Economic Sciences in Memory of Alfred Nobel, founder of the Nobel Prize. The Prize is based on a donation received by the Foundation in 1968 from Sveriges Riksbank on the occasion of the Bank's 300th anniversary. The first Prize in Economic Sciences was awarded to Ragnar Frisch and Jan Tinbergen in 1969.
The Prize in Economic Sciences in Memory of Alfred Nobel is awarded by the Royal Swedish Academy of Sciences according to the same principles as for the Nobel Prizes that have been awarded since 1901. edit... Unless there are some shenanigans happening, it appears that it is as legitimate as the rest of the Nobel prizes (see bold above, also below) The Royal Swedish Academy of Sciences is responsible for selecting the Laureates in Economic Sciences. The Academy has 350 Swedish and 164 foreign members. Membership in the Academy constitutes exclusive recognition of successful research achievements. Its working body is the Prize Committee, elected from among its membes for a three-year term. It's presented by the same group. It has some association, but it's completely separate. It's like how the Paralympics has a loose affiliation with the Olympics, occur in the same city, but are different awards. Haha...So the Nobel Prize in Economics is the paralympics of the Nobel Prizes. No wonder why a retard like Krugman won. Stiglitz too. Paralympics, not Special Olympics. You just angered Mark Zupan. |
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Even if the value of btc relative to the dollar drops to $1, btc is still worth more than it was last year. The point is to create a working P2P currency, yes?  Who cares about last year, I bought yesterday |
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Speculation is motivated by greed and thus is not a factor in the equation. This does not follow. Nor is it true. Speculation is betting that something will be more valuable at a future time (or less if you short). It's a huge factor. Demand is the willingness to hold a BTC for a period of time.
This also doesn't make sense. Not necessarily. Someone buying Bitcoins just to use them immediately (perhaps a game only takes them as payment) would be demand. |
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Around 10k Bitcoins are being mined a day, the daily volume lately has been within a 10-15k bracket, this is mainly miners selling their production while the flow of new investor is at a low.
10K coins per day at $7 each is a LOT for the market to eat up. |
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Unless that business quickly spends the coins on another business.
Look at the supply chain and see if you can get your manufacturer to be paid in bitcoin. Not just supply chain but also your employees. Then employees are gonna need to eat, pay rent, etc... |
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Yes, because we know that someone buying the full price of a house with Bitcoins is *just around the corner*.
I'll tell you what's just around the corner: Poker sites. A volume of 4M USD per month, that is peanuts for a Poker site. Exactly. Focus on that scenario. I think that's the first one that picks this up. Poker is also interesting because you generally will have the money people are gambling with in reserves. This is different than other businesses where you pay expenses with your revenue and keep profit. Poker sites will keep all of the BTC available for user accounts. It's a game changer that actually makes sense RIGHT NOW. |
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We need to find more ways to encourage people to use bitcoins as money that they trade for goods and services. If everyone just tries to trade their BTC for USD right away, the price will go down. Go use your bitcoins to buy something other than USD! I will gladly accept bitcoins for everything in my online store. www.memorydealers.comEven if you spend it on a business, that business is going to have to sell some BTC to keep the business going (in most cases). |
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