y4x.com: BTC awarded on first block that has a bid

[Nite69]

Hmm. some thoughts:
- no risk, so you could keep it open all the time?
- for bidders, there is no point to send the first bid. Nothing to win, but something to lose?
 -> maybe initial bid or minimum prize? But then there *is* risk and you cannot keep it open all the time?

Edit: with initial bid or minimum prize, you cannot share 100% ?

Well, someone might send an initial bid just to lure others to play and then try to collect the prize :-D

[BitcoinHoarder]

Hmm. some thoughts:
- no risk, so you could keep it open all the time?
- for bidders, there is no point to send the first bid. Nothing to win, but something to lose?
 -> maybe initial bid or minimum prize? But then there *is* risk and you cannot keep it open all the time?

Edit: with initial bid or minimum prize, you cannot share 100% ?

Well, someone might send an initial bid just to lure others to play and then try to collect the prize :-D

I will have my system automatically post the first bid at .1.  It's ok if I bid if I'm the first one.  If no one plays then I win my own with no gain.

Edit:  And I can still give 100% with initial bid because 1) The initial bid is small and 2) I will get late bids.

[dooglus]

I will have my system automatically post the first bid at .1.  It's ok if I bid if I'm the first one.  If no one plays then I win my own with no gain.

Edit:  And I can still give 100% with initial bid because 1) The initial bid is small and 2) I will get late bids.

I love how you listen to and respond to comments from your users.  Other game operators could learn a great deal from you.

(Just please don't run off with all the money once your game really takes off!)

[Nite69]

I will have my system automatically post the first bid at .1.  It's ok if I bid if I'm the first one.  If no one plays then I win my own with no gain.

Edit:  And I can still give 100% with initial bid because 1) The initial bid is small and 2) I will get late bids.

I love how you listen to and respond to comments from your users.  Other game operators could learn a great deal from you.

(Just please don't run off with all the money once your game really takes off!)

Fully agree. You need some users to the site so there will be some competition. Spread the word!

Edit:I got the 2nd one. Need more testing? Worst case for you is only one player...

[BitcoinHoarder]

I love how you listen to and respond to comments from your users.  Other game operators could learn a great deal from you.

(Just please don't run off with all the money once your game really takes off!)

Fully agree. You need some users to the site so there will be some competition. Spread the word!

Ok we have our first winner with ID # 2 (I won the first one with the initial bid).  Logs show that the payment went out.  It is a much different dynamic with the new rules but I like it.

[Nite69]

Hmm. some thoughts:
- no risk, so you could keep it open all the time?
- for bidders, there is no point to send the first bid. Nothing to win, but something to lose?
 -> maybe initial bid or minimum prize? But then there *is* risk and you cannot keep it open all the time?

Edit: with initial bid or minimum prize, you cannot share 100% ?

Well, someone might send an initial bid just to lure others to play and then try to collect the prize :-D

I will have my system automatically post the first bid at .1.  It's ok if I bid if I'm the first one.  If no one plays then I win my own with no gain.

Edit:  And I can still give 100% with initial bid because 1) The initial bid is small and 2) I will get late bids.

There are sites that gives something like 0.0001 BTC for free and AFAIK, they are quite popular. I could be wrong, but at the beginning even a very small initial bid could be enought, maybe 0.01 or 0.001? (why am I saying this? I win more by playing as only player like now ;-)

But it is very difficult to define best initial bid before you have more traffic in your site. Of course, if you have capital, we users are happy to bid even those 0.1 BTC as often as possible. Hard to say when there are enought bids so you get some income instead of costs.

[BitcoinHoarder]

But it is very difficult to define best initial bid before you have more traffic in your site. Of course, if you have capital, we users are happy to bid even those 0.1 BTC as often as possible. Hard to say when there are enought bids so you get some income instead of costs.

I was giving away 0.8-0.9 BTC before... so yea, I'm fine seeding the pot with 0.1 BTC.    Bid on, and win happy.  It's just BTC, I don't mind spending on the community.  I'd take you all out for drinks if I could.

[Nite69]

I will have my system automatically post the first bid at .1.  It's ok if I bid if I'm the first one.  If no one plays then I win my own with no gain.

btw, If I send smaller bid, will it win the initial bid? I assume not, and I think you should keep it that way. Otherwise you could end up with numerous bids with 0.0000001 increments.

[BitcoinHoarder]

I will have my system automatically post the first bid at .1.  It's ok if I bid if I'm the first one.  If no one plays then I win my own with no gain.

btw, If I send smaller bid, will it win the initial bid? I assume not, and I think you should keep it that way. Otherwise you could end up with numerous bids with 0.0000001 increments.

Correct, the initial bid is "winning" at the beginning so you have to beat it.

[Nite69]

Come on! I'm getting the pot #3 also!

long block... you can stillget it!

[BitcoinHoarder]

Come on! I'm getting the pot #3 also!

long block... you can stillget it!

This is where the game will kill with 4 people bidding.

[Nite69]

Come on! I'm getting the pot #3 also!

long block... you can stillget it!

This is where the game will kill with 4 people bidding.

Yep! Now there is some competition.. hmm..

Edit: maybe I should pay trasfer fee, they could have been included in block 210339.

What happens, if your initial bid is not included in a block, but some winning bid is?

[BitcoinHoarder]

Come on! I'm getting the pot #3 also!

long block... you can stillget it!

This is where the game will kill with 4 people bidding.

Yep! Now there is some competition.. hmm..

Edit: maybe I should pay trasfer fee, they could have been included in block 210339.

What happens, if your initial bid is not included in a block, but some winning bid is?

Just take the first block with any transaction to the bidding address, sum all bids and send them to highest bidder in that block.  If anything, including initial bid, doesn't make it then that's the game.

Edit: since we all missed the block I think the block miner just didn't have ours.  I know mine has transaction fees on it.

[Nite69]

Just take the first block with any transaction to the bidding address, sum all bids and send them to highest bidder in that block.  If anything, including initial bid, doesn't make it then that's the game.

Then it is possible that the winner wins only the bet she/he makes. Ok, if the users just know it.

[Nite69]

Come on! I'm getting the pot #3 also!

long block... you can stillget it!

Hmm. very long block.. maybe I will.. hmm.. I'll let this one to go to someone else :-)

there is still 0.4 BTC for someone just to take :-)

[Nite69]

Edit: since we all missed the block I think the block miner just didn't have ours.  I know mine has transaction fees on it.

Yes, actually I payed also fee.

[Nite69]

Seems to work nicely, congrats! I'll go to sleep. Will drop by in your site sometimes.

[Ploo]

Hey BitcoinHoarder,

Could you talk about the technologies you're using in this? What's it written in, where is the scripting that handles payouts done?

I'd like to get involved with handling bitcoin (probably in a gambling context) and whatever you're doing seems to be suitable.

I've recently taken a liking to google app engine so I'll probably be using that, opinion? Better yet, are you available on Freenode?

[dooglus]

I've been offline since my last post and missed the first 3 games.  Now I see I have a 2 hour wait for the next game.  I wonder if you could maybe run the games continuously just by putting in a very small initial bid for the times you wouldn't usually run a game.

You could have on your site a list of the next 10 games and their corresponding initial bid sizes so people can wait for the upcoming 'big' 0.1 seeded game if they like, or play right now in the 0.001 seeded game.  You could run a 0.001 game every block and it would only cost you about $2 per day to do, assuming you lost every time.

A problem with doing it that way is you can't tell people how long until the next 0.1 BTC game since it depends on how long it takes for the current game(s) to play out.

[ThePok]

This is the next big thing after SatohsiDice!!

EDIT

OK its not so cool after all....big miners could easily cheat ;/