LoyceV
Legendary
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Activity: 3304
Merit: 16657
Thick-Skinned Gang Leader and Golden Feather 2021
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December 22, 2015, 09:06:45 AM |
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Bet for it Contest Code : S1
Win (profit) or lose more than 50 mBTC in a single bet. Prizes. 12 mBTC x 10 winners*
I'm going for the consolation prize This was my first click, 55 mbtc >11: red I keep telling myself to hit the greedy button! Oh well, 12 mBTC happily needed
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According to NIST and ECRYPT II, the cryptographic algorithms used in
Bitcoin are expected to be strong until at least 2030. (After that, it
will not be too difficult to transition to different algorithms.)
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ndnh (OP)
Legendary
Offline
Activity: 1302
Merit: 1005
New Decentralized Nuclear Hobbit
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December 23, 2015, 06:17:07 AM |
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I'm going for the consolation prize This was my first click, 55 mbtc >11: red I keep telling myself to hit the greedy button! Oh well, 12 mBTC happily needed Loyce wins 12 mBTCflatswhiskey wins 10 mBTCkshyzer wins 10 mBTCBumpy wins 12 mBTCAll prizes credited.
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ndnh (OP)
Legendary
Offline
Activity: 1302
Merit: 1005
New Decentralized Nuclear Hobbit
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December 23, 2015, 07:06:31 AM |
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On-thread Trivia!aaaand the question for today is: Q. X, who has wagered 98,456 mBTC has a balance of 6,234 mBTC at Rollin at the time. He bets half of the balance at 49% win chance and loses and then goes all-in at 49% win chance and wins. What is his profit or loss? Show working.
Post your answer(s) with your Rollin account. Rollin account should be at least level 2 OR the bitcointalk account full member and above. First to answer correctly, to the point wins the prize of 10 m BTC. Remember, no edits.
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karakhan
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December 23, 2015, 07:23:34 AM |
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username :karakhan code : XMAS
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karakhan
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December 23, 2015, 07:25:15 AM |
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On-thread Trivia!aaaand the question for today is: Q. X, who has wagered 98,456 mBTC has a balance of 6,234 mBTC at Rollin at the time. He bets half of the balance at 49% win chance and loses and then goes all-in at 49% win chance and wins. What is his profit or loss? Show working.
Post your answer(s) with your Rollin account. Rollin account should be at least level 2 OR the bitcointalk account full member and above. First to answer correctly, to the point wins the prize of 10 m BTC. Remember, no edits. he has zero profit zero loss
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Himea
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December 23, 2015, 07:41:35 AM |
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On-thread Trivia!aaaand the question for today is: Q. X, who has wagered 98,456 mBTC has a balance of 6,234 mBTC at Rollin at the time. He bets half of the balance at 49% win chance and loses and then goes all-in at 49% win chance and wins. What is his profit or loss? Show working.
Post your answer(s) with your Rollin account. Rollin account should be at least level 2 OR the bitcointalk account full member and above. First to answer correctly, to the point wins the prize of 10 m BTC. Remember, no edits. he has zero profit zero loss since he has 98456 m BTC wagered so it mean he now at lvl 6 and has 0.9% HE the first roll is half of the balance 6234 m BTC x 50 % = 3117 m BTC and lose the second roll the remaining balance 3117 m BTC x (100-0,9)/49 = 6303,97347 so total profit the last balance - initial balance = 6303.9734 m BTC - 6234 m BTC = 69,97347 m BTCso at the end his profit is 69,97347 m BTCusername: himea
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,╓▄▄▄▄▄▄▄▄▄╓ ╓▄█████████████████▄╖ ╓▄█████▀▀'▒,,,,,╠'▀▀█████▄, ,▓███▀╜,▄▄███████████▄▄,╙▀████╖ ▄███▀ ▄█████▀▀"``╙"▀▀█████▄ ▀███▄ ▓███╜╓████▀ ,▄▄█████▄▄, ▀████,╙███▌ ▓███`╔███▀ ╓▓███▀▀▀▀▀████╖ ▀███@"███▌ ]███▌┌███▌ ▐███ ███▄ ▐███ ▐███, ▐███ ▐███ .███ ███ ███▌ ███▌ ▐███ ▐███ '███ ███ ███▌ ███▌ ]███@╙███@ ▀██▌ ,▄██▌ ▐███ ▐███` ▓███ ▐███▄ ╙██▀╩ 9███╜ ╔███▀,███▌ ████,╙███▌ ▓███╜,████ ▀███▄ ▀╜ ▀▀ ▄███▌ ╙████▄, ╓▄████╜ ╙█████▄▄╓, ,╓▄▄█████▀ ▀▀█████████████████▀▀ '▀▀▀▀▀▀▀▀▀▀▀'
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karakhan
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December 23, 2015, 07:48:22 AM |
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username karakhan 0.00317-0.003117=0.000053
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CASlO
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December 23, 2015, 08:13:21 AM |
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balance 6234 mb (1/2 = 3117mB)
wagered = 98456mB = lvl 6 = 0.9% house edge
first roll: 3117mB on 49%; loss total wagered: 101573mb = lvl 7 =0.88% house edge = -3117mB profit
second roll : 3117 mB on 49% , @ 0.88 house edge win
= +3188.2 mB profit
total session profit = -3117mB + 3188.24571mB
=+71.24571mB
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CASlO
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December 23, 2015, 08:24:14 AM |
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balance 6234 mb (1/2 = 3117mB)
wagered = 98456mB = lvl 6 = 0.9% house edge
first roll: 3117mB on 49%; loss total wagered: 101573mb = lvl 7 =0.88% house edge = -3117mB profit
second roll : 3117 mB on 49% , @ 0.88 house edge win
= +3188.2 mB profit
total session profit = -3117mB + 3188.24571mB
=+71.24571mB
sorry if process is a bit blurry, had to do it fast, haha! hope its correct though.. USERNAME: CASIO
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Himea
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December 23, 2015, 09:08:24 AM |
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balance 6234 mb (1/2 = 3117mB)
wagered = 98456mB = lvl 6 = 0.9% house edge
first roll: 3117mB on 49%; loss total wagered: 101573mb = lvl 7 =0.88% house edge = -3117mB profit
second roll : 3117 mB on 49% , @ 0.88 house edge win
= +3188.2 mB profit
total session profit = -3117mB + 3188.24571mB
=+71.24571mB
sorry if process is a bit blurry, had to do it fast, haha! hope its correct though.. USERNAME: CASIO i think this one is correct -_- i forgot to add the first roll into the wagered amount
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,╓▄▄▄▄▄▄▄▄▄╓ ╓▄█████████████████▄╖ ╓▄█████▀▀'▒,,,,,╠'▀▀█████▄, ,▓███▀╜,▄▄███████████▄▄,╙▀████╖ ▄███▀ ▄█████▀▀"``╙"▀▀█████▄ ▀███▄ ▓███╜╓████▀ ,▄▄█████▄▄, ▀████,╙███▌ ▓███`╔███▀ ╓▓███▀▀▀▀▀████╖ ▀███@"███▌ ]███▌┌███▌ ▐███ ███▄ ▐███ ▐███, ▐███ ▐███ .███ ███ ███▌ ███▌ ▐███ ▐███ '███ ███ ███▌ ███▌ ]███@╙███@ ▀██▌ ,▄██▌ ▐███ ▐███` ▓███ ▐███▄ ╙██▀╩ 9███╜ ╔███▀,███▌ ████,╙███▌ ▓███╜,████ ▀███▄ ▀╜ ▀▀ ▄███▌ ╙████▄, ╓▄████╜ ╙█████▄▄╓, ,╓▄▄█████▀ ▀▀█████████████████▀▀ '▀▀▀▀▀▀▀▀▀▀▀'
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forfuna
Newbie
Offline
Activity: 42
Merit: 0
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December 23, 2015, 09:20:38 AM |
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at first , he wagged 98456mB <=> lv6 <=> 0.9 HE he bet half (3117) and lost , till now the profit is -3117 he got lv up ( lv 7 = 100000mB+ , he got 101573 after he bet ) <=> 0.88 HE he bet again and won so it's gonna be (3117*(100-0.88)/49-1) = 3188.24571 => total sesion profit : 3188.24571 + (-3117) = 71.24571 this is my most detailed solution for your questions
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LoyceV
Legendary
Offline
Activity: 3304
Merit: 16657
Thick-Skinned Gang Leader and Golden Feather 2021
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December 23, 2015, 09:58:13 AM |
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balance 6234 mb (1/2 = 3117mB)
wagered = 98456mB = lvl 6 = 0.9% house edge
first roll: 3117mB on 49%; loss total wagered: 101573mb = lvl 7 =0.88% house edge = -3117mB profit
second roll : 3117 mB on 49% , @ 0.88 house edge win
= +3188.2 mB profit
total session profit = -3117mB + 3188.24571mB
=+71.24571mB
Loyce here, I agree Although you could argue the house edge 0.9% is totally irrelevant for the first roll. House edge only matters if you win. Bonus Solution: X could get an extra 12 m BTC profit by entering the Bet for it Contest Code S1, either one of the bets would qualify. That would bring the total profit to 83.24571 mBTC
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CASlO
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December 23, 2015, 10:59:48 AM |
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haha! yes, the 0.9 house edge can be ignored... i was just showing all the given data before proceeding to the solution.. also it was not stated that he joined the contest for the 12 mB prize.. sooo..
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kshyzer
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December 23, 2015, 11:45:06 AM |
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Q. X, who has wagered 98,456 mBTC has a balance of 6,234 mBTC at Rollin at the time . He bets half of the balance at 49% win chance and loses (Step1) and then goes all-in at 49% win chance and wins (Step2). What is his profit or loss? Show working. (Step 3)
1 1.00 % 0.00500 m฿ 0 m฿ <<<--- 2 0.98 % 0.01000 m฿ 500 m฿ 3 0.96 % 0.01500 m฿ 1000 m฿
Wager = 98,456 mBTC = Level 1
Initial Balance = 6,234m฿
---> Step 1 (Playing 49% win with half of initial balance) Half of Balance = 3,117m฿ Playing at 49% win with 3,117m฿ (lost it) Balance = 3,117m฿
---> Step 2 (Playing all-in at 49% win with remain balance) Remain Balance = 3,117m฿ Playing at 49% win with 3,117m฿ = +3.18061m฿ profit (win) Balance = 3,117m฿ + 3.18061m฿ = 6,29761m฿
---> Step 3 (his final profit or loss) Initial Balance = 6,234m฿ Balance = 6,29761m฿ Final Balance = 6,29761m฿ - 6,234m฿ = 0,06361m฿
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fumblingperch
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December 23, 2015, 12:00:26 PM |
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On-thread Trivia!aaaand the question for today is: Q. X, who has wagered 98,456 mBTC has a balance of 6,234 mBTC at Rollin at the time. He bets half of the balance at 49% win chance and loses and then goes all-in at 49% win chance and wins. What is his profit or loss? Show working.
Post your answer(s) with your Rollin account. Rollin account should be at least level 2 OR the bitcointalk account full member and above. First to answer correctly, to the point wins the prize of 10 m BTC. Remember, no edits. Total Wager is 98456 mbtc Level 6 - House Edge is 0.90% Playing half of 6234mbtc and lost, so he have 3117mbtc now Total Wager is 101573mbtc, now he is level 7 with house edge on 0.88% Now he plays 3117mbtc 49% win chance with 0.88% house edge = 3117mbtc * (100 - 0.88) / 49 = 6305.24571mbtc his profit is 6305.24571mbtc - 6234mbtc = 71.24571 mbtc
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