Bitcoin Forum
December 18, 2017, 03:49:02 AM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: BitcoinSpeculate.com - Bet on Bitcoin prices  (Read 858 times)
Brushan
Member
**
Offline Offline

Activity: 112



View Profile
March 20, 2013, 08:14:52 PM
 #1

Hello everybody!
I've been lurking around on this site for a while and thought that i should try to contribute with something to the Bitcoin community. That's why i started this site where you can bet on what the Bitcoin price will be every week. This is only for fun so i won't be taking any fees.
Here is the link: Bitcoinspeculate.com

Text from the site:

How it works
What is Bitcoinspeculate.com?
Bitcoinspeculate.com is a virtual betting site where you can bet with Bitcoins on what the Bitcoin price will be every week. You only bet against other people and there are no fees incuded which means there is absolutely no house edge.

How does it work?
On the front page you see prices and addresses. If you want to bet Bitcoins on a price just send your bet to the address next to the price. The bets are accumulated in a pot and the bet closest to the closing price wins the whole pot!

What happens when several players bet on the winning price?
When several players bet on the winning price, the winnings will be shared proportionally. For example if Player 1 bets 0,80BTC on the winning price and Player 2 bets 0,20BTC, then Player 1 gets 80% of the winnings and Player 2 gets 20%.

What happens if the closing price is exactly between 2 prices on this site?
If the closing price ends up exactly between 2 prices, then all bets on both the prices are considered winning bets.

What happens if nobody is right?
If nobody bets on the right price there are still winners! The bets closest to the winning price will win all the accumulated coins.



If you like the idea but feel that it can be better you are free to give your opinion and i will try to make changes to it.


1513568942
Hero Member
*
Offline Offline

Posts: 1513568942

View Profile Personal Message (Offline)

Ignore
1513568942
Reply with quote  #2

1513568942
Report to moderator
1513568942
Hero Member
*
Offline Offline

Posts: 1513568942

View Profile Personal Message (Offline)

Ignore
1513568942
Reply with quote  #2

1513568942
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1513568942
Hero Member
*
Offline Offline

Posts: 1513568942

View Profile Personal Message (Offline)

Ignore
1513568942
Reply with quote  #2

1513568942
Report to moderator
1513568942
Hero Member
*
Offline Offline

Posts: 1513568942

View Profile Personal Message (Offline)

Ignore
1513568942
Reply with quote  #2

1513568942
Report to moderator
TradeFortress
VIP
Legendary
*
Offline Offline

Activity: 910


View Profile
March 20, 2013, 09:05:02 PM
 #2

Interesting! How are you determining each tier? Design of it should be improved.
Brushan
Member
**
Offline Offline

Activity: 112



View Profile
March 20, 2013, 09:14:32 PM
 #3

I don't really understand what you mean by each tier? Sorry but english is not my native language. Yes, i know about the design but i first wanted to see how popular it becomes before i put much time on it. If people become interested in it i will make many improvements like design, daily bets and maybe a litecoin section.
TradeFortress
VIP
Legendary
*
Offline Offline

Activity: 910


View Profile
March 20, 2013, 11:28:31 PM
 #4

Like how one address has a range of $10 while another $1. I know why it's done but this should not be arbitrary set.

Also, I don't think this will get much volume. There's bitcoin futures already - mpex/icbit.se
Brushan
Member
**
Offline Offline

Activity: 112



View Profile
March 21, 2013, 06:27:18 PM
 #5

I just want to spread it out as much as i can. If you have a better way for spreading prices just tell me and i will change it. Also, i don't think this is like futures. This is more for having fun. That is why the bets are showing on the site just so people can play against each other. But i'll try this for 2 weeks, if i don't become popular i'll skip the idea. We'll see.

About 1,5 hours left to place bets!
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!