SatoshiDoshi -- Bitcoin Ponzi Game [50 mBTC Promotion]

[S@toshiDoshi]

We are officially launching our new website www.satoshidoshi.com. It is a completely transparent bitcoin ponzi game. You can read the rules on the website, but for those of you who were familiar with Bitcoinduit, this is basically the same thing.

After waiting for several months for Bitcoinduit to come back online, I was motivated to make my own. So this is what I have so far. It's still in beta, so I am expecting a lot of feedback from you guys!

All inquiries are welcome. Thanks and Enjoy!


UPDATE: We have been working on changing our payment transaction system. It is much cleaner and more reliable now.  However, I still need some folks to test it out for us. So, the first 10 people to start a round that reaches at least 10 bids will automatically get 50 mBTC from me.

For those of you that don't know the rules: http://www.satoshidoshi.com/help  

[MPOE-PR]

This is a complete waste of your time. Also, see here.

[kokojie]

This is a complete waste of your time. Also, see here.

I think gambling sites can be an exception to the "identify yourself" rule, since it could possibly be illegal in the operator's jurisdiction. Though I would definitely still require the operator to have a reputable forum account.

[MPOE-PR]

This is a complete waste of your time. Also, see here.

I think gambling sites can be an exception to the "identify yourself" rule, since it could possibly be illegal in the operator's jurisdiction. Though I would definitely still require the operator to have a reputable forum account.

Pseudonymous identification still works as identification imo.

[S@toshiDoshi]

Honestly, I am willing to do what I need to do in order to build a reputable business.

Basically, I started lurking around here for about a year before I started posting last week. I just wanted to get my feet wet with a relatively simple bitcoin project. It seems to me that the web of trust is important to many of the veterans and respected posters on this board. I am reading up on it now and will gladly join. Do you guys have any specific tips on how to "identify myself" either pseudonymously (is that even a word?) or in real life. How do I go about having a reputable forum account?

[DannyM]

Honestly, I am willing to do what I need to do in order to build a reputable business.

Basically, I started lurking around here for about a year before I started posting last week. I just wanted to get my feet wet with a relatively simple bitcoin project. It seems to me that the web of trust is important to many of the veterans and respected posters on this board. I am reading up on it now and will gladly join. Do you guys have any specific tips on how to "identify myself" either pseudonymously (is that even a word?) or in real life. How do I go about having a reputable forum account?

The more people trust you the darker the hue around the "ignore" button gets under your avatar.

[edd]

I'd like to take this opportunity to announce that I'll be helping promote SatoshiDoshi here and elsewhere, in conjunction with the owner.

In an effort to keep everything as transparent as possible, I'll clarify and point out that I am not a partner, but more like a hired PR guy.

[gtrrkicw]

I'm a little confused as to the actual operation of this game.

Does each bid reset the clock to the original countdown time?

How does the pot work? Because in this game right now http://www.satoshidoshi.com/rounds/round?id=30 there is enough in the pot to pay the third bet but it hasn't been paid out. Is there just some timing bug or is there some other reason it hasn't been paid out?

[S@toshiDoshi]

I would like to address each question separately, in order to be as thorough as possible and to avoid any misunderstandings.

Does each bid reset the clock to the original countdown time?

That depends on the rules of the game. There are two factors.

The first is the time until expiration, set by the creator of the round. This determines how much time is left until the round ends.

Second, is the decay rate, which is also set by the round creator. The decay rate is how much of the time decays between each bid.

For example, let's say that the expiration time is 10 hours and the decay rate is 10%.

When the round starts, it will begin at 10 hours and then count down to zero.

If/when a second bid is placed the timer will reset to 9 hours, since 10% of 10 hours is 1 hour.

If another bid is placed the timer will be reset to 8.1 hours and so on.

How does the pot work?

The pot will pay out as soon as there enough in it to pay the next bid repayment.

Bids are registered as soon as they are sent, but the pot is not updated until the bids get at least one confirmation.

Because in this game right now http://www.satoshidoshi.com/rounds/round?id=30 there is enough in the pot to pay the third bet but it hasn't been paid out. Is there just some timing bug or is there some other reason it hasn't been paid out?

I agree this should have been paid as soon as the fourth bid was confirmed. However, our automated payment service has stalled. We are currently using blockchain's API to automatically send out payments from our wallet. Earlier today, blockchain's API stopped responding to our requests, so our outgoing payments have stopped. Our developers are working diligently to solve this problem. We believe the problem originates from blockchain.

Originally, we chose to use blockchain's API because we didn't want to reinvent the wheel and figured it was a reliable enough service that would be able to handle our modest requests. At this point we are considering changing our scheme to eliminate blockchain entirely and move everything in house.

Whatever happens, there is no need to worry. All of your bids are completely safe and all repayments will be honored in their entirety! Also, the bidding still works just fine so you can go ahead and place more bids if you want to.

[S@toshiDoshi]

bump. see update in the first post.