Bitcoin Crown - another "Bitcoin Gem" style site

[the_crown]

I just launched another clone of the "Bitcoin Gem"-variant bitcoin chain game.

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http://www.bitcoincrown.com

Since this is what most people argue about, the site mitigates the losses of the last in line by refunding 20% of his last payment.
It also launched with small numbers so anyone can come and play. Since most of these sites spend lots of time in the higher ranges where it becomes stagnant until reset, this should be a welcome sight for people who don't want to risk too much or just do it for the lulz.
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Hope some of you guys can enjoy it!

[gweedo]

I agree that riding on somebody else's idea is nothing to be too proud of

Just couldn't listen to your own advice. The only thing that these gem sites are good for is pointing out the leeches of the bitcoin world and who will be gone when they can't make money. But honestly does it make you feel good to rip off an idea, that isn't even good? The economy is so young you could have thought of an idea that could have probably made you ten-fold what this site will make you and now that you create this site, you will forever be known as a leech. I honestly have no respect for people like this, if anyone supports these types of sites are just as leechy as them and should just let us big boys do the heavy lifting of bitcoin economy while you rep the reward. So sad...

[the_crown]

The attempt of this site is not to leech money, the idea is to adjust the percentage more and more so that is becomes self-sustaining after it covered the server and script cost, which will very probably not happen. I probably wasn't clear enough, but ultimately the site operator's cut is supposed to be given to the last one in line for mitigation. I picked this "project" since I think it's a good way to get your toes wet with websites and bitcoins, for several good reasons. Although it's one you condemn.

If people start playing the refund percentage can still be pushed to the point that the site operator makes almost nothing. If the odds are adjusted so that it's likely the crown rarely resets by not being bought, but stays in smaller bitcoin ranges and actually resets by chance - and people buy all the time in that smaller price range as soon as it's available - you can view this as an actual 97% 1,15x chance enabled by the fact that you cannot pick the amount to gamble with yourself, as it gets higher and higher automatically.

Sure, the person that triggered the 3% will have lost the highest gamble and finances it, but in the described scenario where somebody else would have VERY LIKELY bought it after him if he had succeeded it would still be a 97% 1,15x gamble that he simply lost. His gamble was highest but the "fun" was distributed equally. Depending on the parameters, this way the person in the end could get back around ~35% even.

[gektek]

How are simultaneous transactions handled?

[🏰 TradeFortress 🏰]

How are simultaneous transactions handled?

Most chain sites lock the the gem/whatever for 2 minutes.

[gektek]

How are simultaneous transactions handled?

Most chain sites lock the the gem/whatever for 2 minutes.

Ya...this one does too...but it doesn't always work. Currently waiting on a refund as I apparently got skipped on one of the transactions...

[the_crown]

Especially over the last few days the blockchain.info API has been acting funky. Since the nature of these sites is that lots of people sit and refresh in a frenzy to be the first do buy after an unlock, "double buys" can happen even with the lockdown protection in place. However, out of the ~77 transactions until now, only 5 turned out as a "double buy".

I check for those manually at least once per day, and everything has been refunded. All 20% refunds at the end of the chain have been paid as well. No need to worry!

[the_crown]

Since the whole idea is to compensate the last man standing as much as possible, there is now a section showing off the 3 all-time highest buyers called "the 3 greatest kings in history", working as an additional and longer ad slot!