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Author Topic: Bitcoin Prediction Market  (Read 877 times)
LendingNightClub (OP)
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January 18, 2016, 06:52:14 PM
 #1

Bet on the outcome of events and prices in the future.  Looking to the bitcoin community for suggestions of new questions to post on the site.     http://bitcoinfreecasino.com/   Cool
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piebeyb
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January 19, 2016, 04:19:53 AM
 #2

Bet on the outcome of events and prices in the future.  Looking to the bitcoin community for suggestions of new questions to post on the site.     http://bitcoinfreecasino.com/   Cool
I've seen sites like this, teaches us as forecasters bet with what we would have predicted Smiley
but give us different things and it is on your site at least an additional feature that may be different from the others

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Ceizer54
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January 19, 2016, 06:58:39 AM
 #3

Bet on the outcome of events and prices in the future.  Looking to the bitcoin community for suggestions of new questions to post on the site.     http://bitcoinfreecasino.com/   Cool
Site lacks SSL,I can't see the site bitcoin address holding funds to payout the users.These two things making me to stay away yet.I would like to know if anyone got paid? or OP post some tx proof's?
NorrisK
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January 19, 2016, 07:34:01 AM
 #4

Wouldn't it be very easy for a website like that with a high volume to manipulate the outcome of the event?

I mean, if they have a couple of thousands btc on hand and most bets say a price increase will happen, they can easily dump those coins quickly and rebuy to win the majority of the bets and vice versa.

Not saying that is happening here, but it is a real possibility.
LendingNightClub (OP)
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January 19, 2016, 08:21:47 PM
 #5

Bet on the outcome of events and prices in the future.  Looking to the bitcoin community for suggestions of new questions to post on the site.     http://bitcoinfreecasino.com/   Cool
Site lacks SSL,I can't see the site bitcoin address holding funds to payout the users.These two things making me to stay away yet.I would like to know if anyone got paid? or OP post some tx proof's?


Thanks for your comment.  The site does not have any wallets or hold any money, bitcoin or swiftcoin.  Payments and payouts are handled individually by admins.   



another said:


Wouldn't it be very easy for a website like that with a high volume to manipulate the outcome of the event?


No, the site can not manipulate the price of oil, gold etc.
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January 19, 2016, 08:41:51 PM
 #6

When I click the "bitcoin accepted here" button on top, it says "Bitcoin payout amount 4.8 X your bet amount", but what does it mean? There is a bet with only 2 possible outcomes ("Yes = 1 No = 0 The FED will raise interest rates again before March 31, 2016.?") and it can't be so good that I will get 4.8x for the first one.

LendingNightClub (OP)
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January 20, 2016, 12:09:50 AM
 #7

When I click the "bitcoin accepted here" button on top, it says "Bitcoin payout amount 4.8 X your bet amount", but what does it mean? There is a bet with only 2 possible outcomes ("Yes = 1 No = 0 The FED will raise interest rates again before March 31, 2016.?") and it can't be so good that I will get 4.8x for the first one.

4.8 = 480% of your bet amount

yes 1  no  0  = 50% probability answer is correct
Shogen
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January 20, 2016, 12:52:46 AM
 #8

When I click the "bitcoin accepted here" button on top, it says "Bitcoin payout amount 4.8 X your bet amount", but what does it mean? There is a bet with only 2 possible outcomes ("Yes = 1 No = 0 The FED will raise interest rates again before March 31, 2016.?") and it can't be so good that I will get 4.8x for the first one.

4.8 = 480% of your bet amount

yes 1  no  0  = 50% probability answer is correct

Wait, so someone can bet 0.01 btc for "yes" and bet another 0.01 btc for "no", and he will get 0.048 btc back for sure? TBH, it doesn't make any sense at all.

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January 20, 2016, 03:25:02 AM
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You have two expired bets at the top of the page! You should give us the payout tx to prove it! And do you have any amount of bankroll to attract more ppl! If you have, please show to us.
leex1528
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January 20, 2016, 03:57:03 AM
 #10

I agree with Ceizer, site needs SSL in order to be safe.  How accurate do you have to get if you are betting on the outcome of Bitcoin value?  I think it is a great idea it just needs to be a trusted site and you need something for people to come to your site instead of others.
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January 20, 2016, 04:08:38 AM
 #11

You need:

1. SSL to secure site
2. Less animations and better design. Site is like designed from 8 years old in '05
3. And how is provably fair: How many jelly beans are in this jar?

I will stick to betcoin for gambling and fairlay for betting.
LendingNightClub (OP)
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January 22, 2016, 12:40:39 PM
 #12

When I click the "bitcoin accepted here" button on top, it says "Bitcoin payout amount 4.8 X your bet amount", but what does it mean? There is a bet with only 2 possible outcomes ("Yes = 1 No = 0 The FED will raise interest rates again before March 31, 2016.?") and it can't be so good that I will get 4.8x for the first one.

4.8 = 480% of your bet amount

yes 1  no  0  = 50% probability answer is correct

Wait, so someone can bet 0.01 btc for "yes" and bet another 0.01 btc for "no", and he will get 0.048 btc back for sure? TBH, it doesn't make any sense at all.



No, obviously no, you can not bet against your self, your questions make no sense.
LendingNightClub (OP)
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January 22, 2016, 12:48:57 PM
 #13

You have two expired bets at the top of the page! You should give us the payout tx to prove it! And do you have any amount of bankroll to attract more ppl! If you have, please show to us.

payout tx to prove what and to who? 

I see many advertisements for bitcoin gambling  sites next to the names of the people making the comments on this thread, maybe that is their motivation: attack all new businesses.  Well, www.bitcoinfreecasino.com is not competing with you.   It is a prediction market, not a gambling site.   So, let other people make up their own mind.  Thanks, and keep using bitcoin.
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January 22, 2016, 04:23:36 PM
 #14

When I click the "bitcoin accepted here" button on top, it says "Bitcoin payout amount 4.8 X your bet amount", but what does it mean? There is a bet with only 2 possible outcomes ("Yes = 1 No = 0 The FED will raise interest rates again before March 31, 2016.?") and it can't be so good that I will get 4.8x for the first one.

4.8 = 480% of your bet amount

yes 1  no  0  = 50% probability answer is correct

Wait, so someone can bet 0.01 btc for "yes" and bet another 0.01 btc for "no", and he will get 0.048 btc back for sure? TBH, it doesn't make any sense at all.



No, obviously no, you can not bet against your self, your questions make no sense.

Say if someone makes a bet on "yes" using one bitcoin address and one proxy, and then makes a second bet on "no" using another bitcoin address and a new proxy, how are you going to tell that the two bets come from the same person? I am afraid you cannot.
And even if no one does that, if roughly half of the bets are on "yes" and on "no", your site is going to take a huge loss no matter what FED does, don't you see that as a problem?

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January 31, 2022, 12:26:32 PM
 #15

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