Hi Tornino, I'm looking into this now.

I am using BlockChains "send to many" API functionality, however I dont know how to specify not to send unconfirmed coins;

https://blockchain.info/api/blockchain_wallet_api

There must be a way, but I admit I have not been impressed with BlockChain's API over the past couple of hours...

Sorry, this is exactly how Ponzi games come to an abrupt end and many people lose out. Other players wont deposit if there is a huge queue waiting for just your payout.

The best way is for everyone to keep depositing (we currently average a balance of 0.45) and eventually the balance will exceed 1.25 when you will be first in line for your payout.


Of course it will. Ponzi is a gamble, plain and simple. However if there is a level of trust with the owner, it means more players are likely to deposit, meaning the game will last longer.


Sorry, I dont understand this?

Indeed, and the "available balance" presented to the repayment script only considers confirmed BitCoins, however when the transaction is submitted to BlockChain to process, I'm not sure how to dictate "only use confirmed coins for this transaction". This doesn’t seem to be documented in their API... Unless I'm missing something!

I'm not 100% sure why that's happening, I believe it could be caused by the repayment transactions sending BitCoins which are yet to confirm within our wallet.

I'm not sure how to prevent this, the BlockChain API documentation isn’t that good. I'll have a look.


That's how the logic is configured. It is also explained on the Bitvestment site and in this thread.

The reason for this being, to hopefully keep the game going for as long as possible. The more players invest, the sooner you will receive payment. You are nearing the top of the list now so as soon as we hit +1.25BTC you will get paid.

There's a problem with repayments at the minute, BlockChain API is reporting a larger wallet balance than what is available meaning the script tries to send more bitcoins than it has!

I'm working on this now and will push payments through manually until its fixed.


Paid in = deposits sent to Bitvestment
Paid Out = payments sent to that address

Paid Out will be less than Paid In whilst there are still payments pending, which I am working on now

Thanks for all the questions guys. I'll answer them in order;


Sorry about that, f1shy. For some reason your deposit never made it to the database, so the script didnt know to repay you. I have repaid this manually now and will check why this happened.


Can you send me some TX IDs which are unconfirmed please? Everything seems to be working fine for most players.


Thanks for a great deposit!

Payment rounds occur every 5 minutes and are based on a first come first served basis (oldest deposit is repaid first). If there are insufficient funds in the wallet to repay a deposit it is skipped until the funds are available - this is so everyone else’s payments aren’t held up too.

Once the wallet reaches more than 1.25BTC (confirmed) balance, you should get your repayment!

I think it would be a good idea to develop a table showing the "pending" payments and what order they are in so everyone knows what they can expect payment. I'll work on that ASAP.

I'll be away from my desk for the next hour or so, but will respond to any queries\problems when I get back.

Keep the deposits coming guys!

Thanks for the update guys, there are a couple of large deposits still awaiting repayment, so keep the deposits coming!!

Sorry for the delay guys, BlockChain API is returning a completely different available balance to what the wallet actually has meaning the script tries to repay more than it can afford and the transaction fails.

I'm working on that now, not sure if its something I can fix at this end, but a payment round has just been ran!

Sorry for the slight delay in payments, had a rounding problem meaning the script was trying to send xxxx.5 satoshi to some address! Fixed now and latest round send.

Keep them coming!!

Congratz! Whilst I was fixing a bug in the script I manually processed payments which by chance was at the exact same time as cron processed the payments too!

Repayments are processed in date order (first come, first served), to prevent a massive backlog in payments, if there are insufficient funds in the wallet to repay a deposit during that "round", it is skipped.

Whilst that is a little disappointing for the depositor, it allows for other deposits to be repaid and in-turn, further reinvestment to eventually repay the larger deposit. As the script always tries to repay the oldest deposit first, as soon as sufficient funds are available it will be repaid.

The reasoning behind this is to try keep the game running as long as possible, keeping repayments regular and "the ball rolling" so to speak.

I hope that all makes sense? If it doesn’t, let me know and I'll try reword that statement on the site!

Shameless Plug: Bitvestment.co.vu is a fully automated Ponzi game, paying out now and will continue to do so whilst deposits are being made.

Shameless Plug: Bitvestment.co.vu is a fully automated Ponzi game, paying out now and will continue to do so whilst deposits are being made.

Fixed, there was a deposit in the DB coming from the deposit address itself which was causing the repayment transaction to fail (you cant send bitcoins to yourself!)

Also, some lucky addresses have been double paid in the process of fixing this;
1MVUVbFcgyYHnYKHr33ogdqcbDKoreS2gf
1BVE9UWFspGyh6adRE11WS2qrtbWCgBQrz

Congrats!

BlockChain's API is a little flaky at the minute, receiving intermittent "Unknown Error" responses when submitting payments. I'm looking at a more stable way of generating payment transactions, but will resort to processing payments manually until the API responds again if needbe.

First few deposits coming in, and paid out. Script seems to be picking them up automatically just fine (as expected )

Keep it going and spread the word!

I fully appreciate Ponzi games aren’t for everyone. Having played a couple on here recently I quickly became frustrated with the lack of communication from the owners, and\or the manual process of making repayments.

The aim of Bitvestment is to;

• Be as transparent as possible - all our transactions are listed on our site, to confirm our 5 minute automatic payments
• Be as sophisticated as possible - all payments are fully automated every 5 minutes (assuming deposits are confirmed and funds are available in the master wallet
• Last as long as possible - by achieving the above two points, the hope is Bitvestment can be the longest serving BitCoin Ponzi to date

Adding to which, this project has improved my personal knowledge of PHP and Python massively!

Hopefully, BitVestment is around long enough to change a few doubters feelings, but I wont hold my breathe