RUN YOUR OWN BITCOIN GEM

[wtfvanity]

People playing it didn't make 25 BTC, the people running it did. At the expensive of the ones playing the game. Do you understand how a pyrmid scheme works? No new money is created? Suckers at the end make the profit for those at the bottom and the owner of the scam.

no, the owners of the Gem, ie the players made that money.  Maybe you don't know how that game is played, but each time it is purchased, the previous owner gets their money plus 10%.

The guy at the end only pays the person before him, the owners are only taking 5%.

So, anyway, people want to play it, and people are making money with it and having fun.  What is wrong with that?

You really don't get it do you? You know what, I've got a bridge to sell you. PM me... I'll make it cheap.

[gweedo]

Seriously, do you even hear yourself?  "don't do anything to piss off the VCs!"  "don't make games people want to play" "you're hurting bitcoin"

What a bunch of BS.

Good design adds credibility, and you better believe VCs look at that.

You honestly have no idea about VCs LMAO This is the best quote ever LMAO I am dying LOL Some people here really don't understand that high level stuff, so I guess this is exactly why you have to rip off dumb ideas.

I tell you what, why don't you guys spend your time making really awesome sites that people will like and use and get people interested in bitcoins.  Stop wasting your time telling other people what NOT to do.

LMAO Dude you have no idea, and it is so funny cause your just a talentless dude, that obviously can't see what state bitcoin is truly in. Don't worry about me, I do what I can everyday to help bitcoin and so far I am very happy with my status in wealth and idea in bitcoins. So now it is time for me to help the community and show how people like you are ruining it.

[velacreations]

You really don't get it do you? You know what, I've got a bridge to sell you. PM me... I'll make it cheap.

No, the confused one here is you.  I own one of these games, I know exactly what it makes and what the players make.  The players make double what I make.

Typically, we have 1 loser for every round and several winners.  Even on BitCoin Gem, they have 5% of the players lose, 95% win.

The Gem calls it's players owners, as in, "Current Owner of the Gem".  So, when they say "owners made 25 btc", that means that the players made 25 btc from playing.  The owner of the site has made considerably less, as he is only getting 5% of the purchase price.

Regardless, people like it and have fun playing it.  Every gamble has to have losers.  These games have less losers and more winners than almost every other gambling site out there.  And the odds vs payouts are far better than just about anything else, too.

So, stop hating, and let people do what they want.  

[velacreations]

So now it is time for me to help the community and show how people like you are ruining it.

listen, when we need a Batman, we'll ask for it...

[gweedo]

So now it is time for me to help the community and show how people like you are ruining it.

listen, when we need a Batman, we'll ask for it...

LMAO go learn about VCs and how the bitcoin works and stop being dumb, then maybe you can make real money like the rest of us.

[wtfvanity]

You really don't get it do you? You know what, I've got a bridge to sell you. PM me... I'll make it cheap.

No, the confused one here is you.  I own one of these games, I know exactly what it makes and what the players make.  The players make double what I make.

Typically, we have 1 loser for every round and several winners.  Even on BitCoin Gem, they have 5% of the players lose, 95% win.

The Gem calls it's players owners, as in, "Current Owner of the Gem".  So, when they say "owners made 25 btc", that means that the players made 25 btc from playing.  The owner of the site has made considerably less, as he is only getting 5% of the purchase price.

Regardless, people like it and have fun playing it.  Every gamble has to have losers.  These games have less losers and more winners than almost every other gambling site out there.  And the odds vs payouts are far better than just about anything else, too.

So, stop hating, and let people do what they want.  

You still don't get it do you. The reason 95% of them won anything, was because the 5% lost it. The 25 btc didn't appear out of thin air. The 5% paid it to the "winners" It's a ponzi scheme. The last one holding the gem, loses. It's not a way for people to make money with btc, it's a thinly veiled pyramid scam.

[velacreations]

You still don't get it do you. The reason 95% of them won anything, was because the 5% lost it. The 25 btc didn't appear out of thin air. The 5% paid it to the "winners" It's a ponzi scheme. The last one holding the gem, loses. It's not a way for people to make money with btc, it's a thinly veiled pyramid scam.

you still don't get it, for there to be a winner at ANY gambling game, someone has to lose.  What you just described could be said for every casino and gambling game on the planet.

You think casinos are handing out winnings out of their own pockets?  No, they are giving winners a portion of the proceeds from the losers. 

Show me a game where there are less than 5% losers.  95% winners is a good rate for 1.1x payout.

[sunnankar]

for there to be a winner at ANY gambling game, someone has to lose.

Your implication that everyone who buys the gem is 'buying the gem' is not accurate. Some might be more interested in the advertising than the gem. Advertising is usually bought expecting a sunk cost but some other benefits such as traffic, etc.

[velacreations]

Your implication that everyone who buys the gem is 'buying the gem' is not accurate. Some might be more interested in the advertising than the gem. Advertising is usually bought expecting a sunk cost but some other benefits such as traffic, etc.

that's a good point

[wtfvanity]

You still don't get it do you. The reason 95% of them won anything, was because the 5% lost it. The 25 btc didn't appear out of thin air. The 5% paid it to the "winners" It's a ponzi scheme. The last one holding the gem, loses. It's not a way for people to make money with btc, it's a thinly veiled pyramid scam.

you still don't get it, for there to be a winner at ANY gambling game, someone has to lose.  What you just described could be said for every casino and gambling game on the planet.

You think casinos are handing out winnings out of their own pockets?  No, they are giving winners a portion of the proceeds from the losers. 

Show me a game where there are less than 5% losers.  95% winners is a good rate for 1.1x payout.

In the very first post, it is said that the house, can restart the game at any time. The house takes the profit in that case. If it's just reset, everyone else is paying for it.

95% winners at a 1.1% payout? How about Satoshi dice. The house edge is 1.9% and you pick your odds and keep playing. That's a real game of chance like a casino, not a pyramid scam.

Don't worry, you'll hit odds and statistics once you hit high school. It will make sense.

[velacreations]

In the very first post, it is said that the house, can restart the game at any time. The house takes the profit in that case. If it's just reset, everyone else is paying for it.

For what game, this one?  Cause none of the others say that.

95% winners at a 1.1% payout? How about Satoshi dice. The house edge is 1.9% and you pick your odds and keep playing. That's a real game of chance like a casino, not a pyramid scam.

Don't worry, you'll hit odds and statistics once you hit high school. It will make sense.

Let's see, SD's odds for 1.1x payout are between 85% and 91%.  At 91%, it is 1.07x payout. Did you study basic math in high school?  91% is less than 95%



So, I'll say it again, find a game with better odds vs payouts.  95% at 1.1x payout is excellent.

[wtfvanity]

In the very first post, it is said that the house, can restart the game at any time. The house takes the profit in that case. If it's just reset, everyone else is paying for it.

For what game, this one?  Cause none of the others say that.

95% winners at a 1.1% payout? How about Satoshi dice. The house edge is 1.9% and you pick your odds and keep playing. That's a real game of chance like a casino, not a pyramid scam.

Don't worry, you'll hit odds and statistics once you hit high school. It will make sense.

Let's see, SD's odds for 1.1x payout are between 85% and 91%.  At 91%, it is 1.07x payout. Did you study basic math in high school?  91% is less than 95%



So, I'll say it again, find a game with better odds vs payouts.  95% at 1.1x payout is excellent.

I can't believe you think that you have a 1.1 payout at 95% odds. The house edge is what matters. If you play less than 8 statistically you'll only lose 98% of your money. If you play your game, you'll lose only 5% of your money. It's also a pyramid scam, not a game of chance based on mathematics.

[velacreations]

I can't believe you think that you have a 1.1 payout at 95% odds. The house edge is what matters. If you play less than 8 statistically you'll only lose 98% of your money. If you play your game, you'll lose only 5% of your money. It's also a pyramid scam, not a game of chance based on mathematics.

Look at the payouts on the Gem.  5% lost, 95% won.  Those are the actual odds of winning vs losing. The payout for the Gem is 1.1x.

So, again, show me a game where there is 1.1X payout where 95% of the people play win that payout.

You can't deny those stats.  Here are the current stats for the Gem:

So far, the gem changed hands 299 times and reset 14 times (4.68%).
Owners made a total profit of 26.463 bitcoins.

[wtfvanity]

I can't believe you think that you have a 1.1 payout at 95% odds. The house edge is what matters. If you play less than 8 statistically you'll only lose 98% of your money. If you play your game, you'll lose only 5% of your money. It's also a pyramid scam, not a game of chance based on mathematics.

Look at the payouts on the Gem.  5% lost, 95% won.  Those are the actual odds of winning vs losing. The payout for the Gem is 1.1x.

So, again, show me a game where there is 1.1X payout where 95% of the people play win that payout.

You can't deny those stats.  Here are the current stats for the Gem:

So far, the gem changed hands 299 times and reset 14 times (4.68%).
Owners made a total profit of 26.463 bitcoins.

Those aren't the odds, those are when it's being reset. At any given time, the pyrmaid can be reset. You can't "bet" any amount you want. You pay the person in the pyramid scam exactly 1.1x what they paid and hope the game isn't reset.

That's how a ponzi scam works.

[velacreations]

Those aren't the odds, those are when it's being reset. At any given time, the pyrmaid can be reset. You can't "bet" any amount you want. You pay the person in the pyramid scam exactly 1.1x what they paid and hope the game isn't reset.

That's how a ponzi scam works.

It can't and isn't reset at any time. There are specific conditions for it being reset.  For the Gem, they do an odds-based random generator, like Satoshi Dice, plus an idle time limit.  Other games, like BitBears don't have the random reset, but do have an idle time limit.

and the stats speak for themselves, less than 5% of players triggered a reset on the Gem, so 95+% didn't.

Show us where the game was reset arbitrarily that didn't follow those conditions, and you might have a point.

But, like your other points, this one is false.

[wtfvanity]

Show us where the game was reset arbitrarily that didn't follow those conditions, and you might have a point.

How does the site owner profit from this?

1. Reset Odds

This is the most common way the site owner profits. As the chain gets higher and higher, the price naturally increases (by whatever % you set). Every so often - again at a % you can set - a purchase will trigger a reset of the chain, causing them to lose ownership of the Game Object.

Since they no longer own it, the next person to purchase it (now that it's reset to the starting price - configurable), the system never has to pay the person who triggered the reset since they don't own it any longer. In essence that means the buy price of whoever resets the Game Object is your profit.

I never said arbitrarily. And that right there shows you that the site owner is the one that makes a percentage. You're a moron. But, you continue to argue I'm sure makes you think you're right. If you have the last word, you win!!!



Let's go back over what you've said:

The Gem calls it's players owners, as in, "Current Owner of the Gem".  So, when they say "owners made 25 btc", that means that the players made 25 btc from playing.  The owner of the site has made considerably less, as he is only getting 5% of the purchase price.

Hmm, but the OP CLEARLY says how does the SITE OWNER profit

How does the site owner profit from this?

1. Reset Odds

This is the most common way the site owner profits. As the chain gets higher and higher, the price naturally increases (by whatever % you set). Every so often - again at a % you can set - a purchase will trigger a reset of the chain, causing them to lose ownership of the Game Object.

Since they no longer own it, the next person to purchase it (now that it's reset to the starting price - configurable), the system never has to pay the person who triggered the reset since they don't own it any longer. In essence that means the buy price of whoever resets the Game Object is your profit.

Let's see how this goes after a few plays. Each line is one person buying the scam, I mean gem.
1
1.1
1.21
1.33
1.46
1.61
1.77
1.95
2.15
2.37

15.95 played. The last sucker, I mean player, paid 2.37 for the gem. The chain is reset. That means, that of the 10 people, 1 lost. That is 10% of the people lost their money!!!

And, here's another kicker for you, 0.22 is made by the SITE OWNER. That's not returned to anyone. The SITE OWNER keeps it dumb ass.

If you want to talk percentages, the last sucker lost 15% of the money played in this scam, err, scenario.

You say that there was over 1 BTC in profit... come on. There wasn't 1 BTC in "profit" the last sucker payed all the first suckers.

Keep drinking your kool-aid amigo. For you, as a site owner, you need lots of players to make your house edge. That's how you make money. In the scenario above, the odds are not 95%+ that you'll win. The house edge is unknown, and the owner could change it at any time.

People will play the ponzi scheme, yes, of course. But don't lie and say it's something that it is not.

[velacreations]

I never said arbitrarily. And that right there shows you that the site owner is the one that makes a percentage. You're a moron. But, you continue to argue I'm sure makes you think you're right. If you have the last word, you win!!!

no one ever said the site owner doesn't make a percentage. What you are trying to say is that they are the ONLY ones making a percentage.  the truth is, the site owner makes considerably less than the players.  

But you did say it could be reset at any time:

it is said that the house, can restart the game at any time. The house takes the profit in that case. If it's just reset, everyone else is paying for it.

and here:

At any given time, the pyrmaid can be reset.

It can't be reset without matching the rules of the game, which dictate a mathematical probability of reset, based on preset odds.

And, here's another kicker for you, 2.37 is made by the SITE OWNER. That's not returned to anyone. The SITE OWNER keeps it dumb ass.

WRONG
That 2.37 pays the PREVIOUS PLAYER 2.15 btc.  So, the profit from your scenario to the site owner is 2.37 - 2.15 = 0.22 btc

Let's look at the profit for the players: 1.02 btc

Who is the dumb ass, here?
         

You're a stupid mother fucker <3

at least I can do basic math

[silvergoldandbitcoin]

Wtfvanity, bitbears, why are you two arguing over such a simple game? Wtfvanity, if you don't like the way the game is set up, don't play. It's that simple. And bitbears, don't waste your time trying to explain it to this guy. It's not worth the energy...

Sorry about butting in like that, but I hate to read such bickering.

[the_crown]

I agree that riding on somebody else's idea is nothing to be too proud of, on the other hand I think having a few more of these sites is a good thing for the players who like this kind of game, since they spend a lot of time waiting for transactions or while the game is in the slow, "high" price range where the items sit idle until reset. This excludes players who only want to play with small amounts and wait for the resets to happen.
So I'll just jump right into the fray and post another site built with the plugin advertised in this thread and my experiences with it, since that's what the thread is for.

----

http://www.bitcoincrown.com

Since the game is played at the cost of the person last in line and most discussion regarding these games revolves around this fact, the Bitcoin Crown seeks to soothe that person's pain as much as it can with its limited funds right now: The one who resets the crown will be refunded 20% of what he lost.

----

Regarding the plugin: I could download and activate it a few minutes after the purchasing process and get started. If you already have a webserver (preferrably with cron job support, f.e. Cpanel) and a fresh wordpress installed, the "hard" part is already over. Setting up the plugin is very convenient as it comes with a built-in tutorial which leads you through the progress step-by-step, right inside the wordpress admin environment. The instructions are detailed (including screenshots) and easy to understand.

I was surprised how smooth the plugin was running right after setup. It works just like you can see on the screenshot and on the site example. Since I did not have a lot of experience with webservers and wordpress, most of my questions, problems and time spent revolved around setting up those basics instead of the plugin, and John (presumably Anzy here) still went out of his way to help me with all of them. Most of the time he answered me within mere minutes. It was an overall very pleasant experience! It is also good to know that the plugin is being maintained and updated as well. This happens automatically inside your wordpress and gives you some additional feeling of safety.

If you are considering running such a site but have a few insecurities, this is your chance, since you will get more support here than you would expect.

[anzy]

Regarding the plugin: I could download and activate it a few minutes after the purchasing process and get started. If you already have a webserver (preferrably with cron job support, f.e. Cpanel) and a fresh wordpress installed, the "hard" part is already over. Setting up the plugin is very convenient as it comes with a built-in tutorial which leads you through the progress step-by-step, right inside the wordpress admin environment. The instructions are detailed (including screenshots) and easy to understand.

I was surprised how smooth the plugin was running right after setup. It works just like you can see on the screenshot and on the site example. Since I did not have a lot of experience with webservers and wordpress, most of my questions, problems and time spent revolved around setting up those basics instead of the plugin, and John (presumably Anzy here) still went out of his way to help me with all of them. Most of the time he answered me within mere minutes. It was an overall very pleasant experience! It is also good to know that the plugin is being maintained and updated as well. This happens automatically inside your wordpress and gives you some additional feeling of safety.

If you are considering running such a site but have a few insecurities, this is your chance, since you will get more support here than you would expect.

Thank you kindly for the review!

As for the rest of the thread, I must have had notifications turned off by accident; seems we have quite the discussion (debate?) going on here about Bitcoin gambling sites.

While I genuinely have no interest in running one myself (I'm terrible at marketing & site design; have you noticed? : P), I do thoroughly enjoy coding things up that other folks want and fine useful. I see that there is a desire for sites like this, and understandably so - they're kinda neat.

Not that it's entirely relevant to the discussion that's developed, but if anyone has feature requests do let me know - they can be implemented that same day : )

About 2 left still at the 10 BTC price, btw.