CoinPredict.co - Predict a future BitCoin rate and win!

[CoinPredict]

CoinPredict.co


I'm proud to announce a new BitCoin game I have been working on for a few months now. I believe this is the first of its kind. Today I'm launching the first open beta test. This is a public round to see if I need to make any changes or improvements. Of course it's functional and you can start predicting and if you're good/lucky, win!

If you have any questions, feedback, issues, suggestions, anything - please post in this thread or PM me. Please also report any bugs to me. I will also be looking for a complete rework of the design (as it's not very attractive at the moment), so if you're interested in that, PM me and show me what you've got.


› What is BitCoin?
BitCoin is a decentralized, virtual currency (crypto currency). This is the currency used to bet on CoinPredict. To learn more, please visit Bitcoin.org.

› What is CoinPredict?
CoinPredict is an exciting betting/prediction game based on the crypto currency BitCoin. Predict a future BitCoin value and win. The more predictions in one round, the higher the stakes. So tell your friends to join in!

› How does it work?
Players predict what the value of one BitCoin will be in US dollars (including cents) 24 hours from round start. After 12 hours, predictions are closed and the next round starts. There is always an active round to predict on. When 24 hours have passed since the round start, the system determines the value based on data from the CoinDesk Price Index.

The player whose prediction is closest to the BTC value when the round ends wins the total amount of bets placed by all players. If multiple predictions are equally close, the player who submitted their prediction first will be selected.

One entry costs 0.03 BTC and you can have as many entries as you wish in a round, for an increased chance of winning. CoinPredict charges a small fee from each entry.

› Why are predictions only open for 12 hours?
If you could submit predictions during the entire round, anyone could predict just before the round ends. The BitCoin rate would not have time to change before the winner selection and it wouldn't be a fair or exciting game. So instead we keep the predictions open for 12 hours to allow another 12 hours for the value to fluctuate.


› I have a question. How can I contact you?
There's only one person running CoinPredict, so it may or may not always be possible to get a quick response. However, if your question wasn't answered on this page and you need to get in touch, send an e-mail to contact(at)coinpredict.co. I will do my best to get back to you as soon as possible. Thank you for understanding.

[alwinlinzee]

Since this prediction is only open for 12 hours, what is the difference between binary options and your website idea?

[CoinPredict]

Since this prediction is only open for 12 hours, what is the difference between binary options and your website idea?

You don't choose between two outcomes. You predict the exact value (two decimals) and the closest win all the other bets.

[mralbi]

Bitalo Predictions is far more sophisiticated, as you can bet on ranges and the more accurate and more long term your bet is the higher you score.

see
http://predictions.bitalo.com

EDIT: Also, bitalo predictions is completely free and winning prizes are sponsored

[CoinPredict]

Bitalo Predictions is far more sophisiticated, as you can bet on ranges and the more accurate and more long term your bet is the higher you score.

see
http://predictions.bitalo.com

EDIT: Also, bitalo predictions is completely free and winning prizes are sponsored

That is completely irrelevant in my thread. I have been working on this for months, don't ruin it for me. I don't care if it's "more sophisticated". My game is a different concept, and the stakes are affected by the amount of participants. CoinPredict and Bitalo are not the same. It's unnecessary to compare them here.

[amiryaqot]

Since this prediction is only open for 12 hours, what is the difference between binary options and your website idea?

You don't choose between two outcomes. You predict the exact value (two decimals) and the closest win all the other bets.

What happen if nobody make bet during this 12 hours and there will be only 1 entry and prediction than how many percentage that person will get back as winning amount?

[joksim299]

Since this prediction is only open for 12 hours, what is the difference between binary options and your website idea?

You don't choose between two outcomes. You predict the exact value (two decimals) and the closest win all the other bets.

What happen if nobody make bet during this 12 hours and there will be only 1 entry and prediction than how many percentage that person will get back as winning amount?

Your bet - fee. (Nowhere on the site is displayed fee)
Interesting concept with high-return possibility.
I think that entry price is high 0.03BTC can you lower it to at least 0.01BTC?

[sana9821]

entry price is pretty big considering that you have just only started your website besides that i think its an interesting idea for a gambling website

[CoinPredict]

Since this prediction is only open for 12 hours, what is the difference between binary options and your website idea?

You don't choose between two outcomes. You predict the exact value (two decimals) and the closest win all the other bets.

What happen if nobody make bet during this 12 hours and there will be only 1 entry and prediction than how many percentage that person will get back as winning amount?

If there is only one prediction, I will not charge anything. The bet will just be sent back. When there are more than 3 predictions, I will charge 40% of the total amount during winner selection. That may seem like a lot, but it's really not much considering the entry price and the fact that I need to pay server costs and such. The stakes will still be high.

For example:
0.02 = Entry price
20 predictions = 0.24 BTC for the winner

Yeah by the way, the entry price is 0.02 now. Let's see how that works. Thanks for the feedback guys, keep it coming. I'm hoping to make this work. Remember it's just some public testing at the moment. Changes will be made.

[mralbi]

no information about prices and then charge amounts like 40%?
No information about who is behind the site?
little transparency about current bets?
no information about wallet security etc?


Does not look like a professional service to me.

[angelakay124]

You are asking 0.03 btc minimum bet which is little high. As you are testing your service its better you lower down the minimum to around 0.005 or something like that as it will be very hard to trust your site because it is totally new. I like the concept but try to be more professional to catch more players.

[phibay]

the game concept is interesting but i am hesitant to try this because of the high minimum  amount for every entry. if you can consider lowering the minimum amount, just like others said, maybe we will give it a try

[Herbert2020]

it is a very interesting concept for a gambling game on the bitcoin price. but it think the time frame of 12 hours is a little wide, and also the entrance price is a little high for an starting business.

[yahoo62278]

why is there 12 hours between bet prediction and bets stopping?

[joksim299]

why is there 12 hours between bet prediction and bets stopping?

To make it fair. This waiting time will disallow someone to predict 1 minute before the result.

[CoinPredict]

no information about prices and then charge amounts like 40%?
No information about who is behind the site?
little transparency about current bets?
no information about wallet security etc?


Does not look like a professional service to me.

I appreciate the feedback. This is my first time trying to run something like this. There is information about prices. I don't know where you got that from. Or what kind of information were you looking for? Yes, charge amounts 40% but it's not that much if you think about it. I want to keep the website ad free but I want to keep it alive. Check my calculation above and you'll see the charge amount is not much considering what you'll win and what your bet is. However, I am still open for suggestions. If anyone has an idea how I can balance it, I'll be happy to listen!

Next you mention there is no information who is behind the site. It's not a company, it's just a one man project. And honestly I don't want to reveal my real identity.

What kind of details would you like to see on the current bets? There are "Latest Predictions" and "Current Stakes". I'll be happy to hear some feedback on that. I'm willing to expand.

And finally about the security. BitCoin addresses are stored in the database, nothing else. There's no registration or anything like that. There's no risk of anyone comprimising your wallet. And no one else than me can access the prediction wallets, even if that information leaked. Only my IP is whitelisted.

[boopy265420]

I like the concept of this type of prediction based gambling but I will wait to see the things to be settled down as the minimum entry fee still two high and site by itself is in testing phase.Charge amount of 40% is too high you should distribute maximum possible amount to make it much more attractive.

[panjul07]

Just visited the site and seems that there is no one place a bet so far, I think for a starting promotion you can place some bets to attract players instead of asking players to motivate others to bet. Or perhaps you have other marketing strategies..

[PlayCryptour]

Looks like a fun one. As there is a 12-hour window, how can we as players ensure that there will not be any last minute bet made by the owner in order to be the winner?

[CoinPredict]

Looks like a fun one. As there is a 12-hour window, how can we as players ensure that there will not be any last minute bet made by the owner in order to be the winner?

I guess I can't really give you more than my word. Unless you can think of a way, all I can say is:
I'm not interested in "winning", but letting people win so they know it's legit and spread the word. Way more profitable.