[Closed][BTE] Bytecoin Emerald/Ruby

[milly6]

Its not a ponzi scheme.. more like gambling 

[1713487592]

1713487592

[1713487592]

1713487592

[1713487592]

1713487592

[1713487592]

1713487592

[saigo]

Its not a ponzi scheme.. more like gambling 

Eh ?! I thought we were investing in emeralds !!! 

 

[LucasJones]

Litecointreasure.com has the random reset, that puts me off buying at the  higher price, just more risk. If want to increase the number of buys at higher prices I think the reward has to be proportionately higher, without added risk, that might help.

Basically, a better risk/reward ratio, the larger the value of the emerald, that would have to kick in at around 40 BTE judging by current action, it could perhaps improve at 50, 100, 150 etc...

That sounds like a good idea

I've implemented a simple version of this. It currently bumps up the profit from 15% to 30% once the price is over or equal to 40. I'm going to write a proportional algorithm to increase it automatically soon.

[saigo]

Litecointreasure.com has the random reset, that puts me off buying at the  higher price, just more risk. If want to increase the number of buys at higher prices I think the reward has to be proportionately higher, without added risk, that might help.

Basically, a better risk/reward ratio, the larger the value of the emerald, that would have to kick in at around 40 BTE judging by current action, it could perhaps improve at 50, 100, 150 etc...

That sounds like a good idea

I've implemented a simple version of this. It currently bumps up the profit from 15% to 30% once the price is over or equal to 40. I'm going to write a proportional algorithm to increase it automatically soon.

EDIT: I removed the refund, it wasn't really much support if you lost the emerald. I can reinstate it if people think it was really worth it.

Does that take effect immediately or after the next reset ? 

[LucasJones]

Litecointreasure.com has the random reset, that puts me off buying at the  higher price, just more risk. If want to increase the number of buys at higher prices I think the reward has to be proportionately higher, without added risk, that might help.

Basically, a better risk/reward ratio, the larger the value of the emerald, that would have to kick in at around 40 BTE judging by current action, it could perhaps improve at 50, 100, 150 etc...

That sounds like a good idea

I've implemented a simple version of this. It currently bumps up the profit from 15% to 30% once the price is over or equal to 40. I'm going to write a proportional algorithm to increase it automatically soon.

Does that take effect immediately or after the next reset ?  

Immediately

Higher profits for more expensive purchases

[weenfan]

Bought it!

[saigo]

come and buy my shiny green stone ! 

higher profit kicks in on next buy !

 

[LucasJones]

***UPDATES***

1. New List of Transactions
2. Your payments are confirmed instantly (0 confirms)
3. You can pay out once all your transactions have 6 confirms
4. You can generate an account with a 'secret key', every key will generate the same account (good if you want to use it on multiple computers)

[saigo]

come and buy my shiny green stone ! 

higher profit kicks in on next buy !

 

Looks like no one wants to move the price into the higher profit bracket.. no takers at this low price to take advantage of greater rewards ?   

[hdclover]

why port 9000 on website ?

[LucasJones]

why port 9000 on website ?

It's hosted on a node.js server along with other sites; port 80 on the server isn't free. I could try to move it to port 80 but it doesn't really seem worth it for the hassle; the current site works fine in most cases.

[saigo]

why port 9000 on website ?

+1 for no-face avatar

[Bytas]

why did you remove the cash back when you are the last player holding the stone? More profit for you?

I think it is a very bad thing to do that. This will very quickly filter away everyone that holds the emerald last, because those people will lose all their money and not have a cashback from which they can start over.

For example:
You have 45BTE on balance and decide to buy the emerald for 40.86. However, no one else buys it and you lose all your money.
On the old version, you would receive a small amount and you were able to start over in the small price ranges (5->15BTE) to gradually grow your balance again.
Now you just lose everything and you probably will stop playing because you can't buy the emerald anymore even at the lowest price and you probably don't feel vary happy and inclined to deposit more funds on a game that just striped you of 40.86 BTE.

Give people the cashback, give them a chance to start over again and regain the taste of the game. They will keep playing and it's important for this game that people play it, because else it will die in an instant.

To be honest, the profit margins for the house are ridiculously high right now. Half the profit on every sale of the emerald(even more if they have a website set O.o) + the entire last buy. All straight into the pocket. Don't be so greedy please, it's killing your game.

Why do people who enter a website url into their profile get severely handicapped in playing this game anyway? I'm lucky i didn't fill in that field when i started playing, especially because there is no way to change it back.

[twelph]

why did you remove the cash back when you are the last player holding the stone? More profit for you?

I think it is a very bad thing to do that. This will very quickly filter away everyone that holds the emerald last, because those people will lose all their money and not have a cashback from which they can start over.

For example:
You have 45BTE on balance and decide to buy the emerald for 40.86. However, no one else buys it and you lose all your money.
On the old version, you would receive a small amount and you were able to start over in the small price ranges (5->15BTE) to gradually grow your balance again.
Now you just lose everything and you probably will stop playing because you can't buy the emerald anymore even at the lowest price and you probably don't feel vary happy and inclined to deposit more funds on a game that just striped you of 40.86 BTE.

Give people the cashback, give them a chance to start over again and regain the taste of the game. They will keep playing and it's important for this game that people play it, because else it will die in an instant.

To be honest, the profit margins for the house are ridiculously high right now. Half the profit on every sale of the emerald(even more if they have a website set O.o) + the entire last buy. All straight into the pocket. Don't be so greedy please, it's killing your game.

Why do people who enter a website url into their profile get severely handicapped in playing this game anyway? I'm lucky i didn't fill in that field when i started playing, especially because there is no way to change it back.

+1

I had my fun and stopped playing when the refund was 40% house profit. I wouldn't have even participated had I been at risk of taking a total loss.

[LucasJones]

why did you remove the cash back when you are the last player holding the stone? More profit for you?

I think it is a very bad thing to do that. This will very quickly filter away everyone that holds the emerald last, because those people will lose all their money and not have a cashback from which they can start over.

For example:
You have 45BTE on balance and decide to buy the emerald for 40.86. However, no one else buys it and you lose all your money.
On the old version, you would receive a small amount and you were able to start over in the small price ranges (5->15BTE) to gradually grow your balance again.
Now you just lose everything and you probably will stop playing because you can't buy the emerald anymore even at the lowest price and you probably don't feel vary happy and inclined to deposit more funds on a game that just striped you of 40.86 BTE.

Give people the cashback, give them a chance to start over again and regain the taste of the game. They will keep playing and it's important for this game that people play it, because else it will die in an instant.

To be honest, the profit margins for the house are ridiculously high right now. Half the profit on every sale of the emerald(even more if they have a website set O.o) + the entire last buy. All straight into the pocket. Don't be so greedy please, it's killing your game.

Why do people who enter a website url into their profile get severely handicapped in playing this game anyway? I'm lucky i didn't fill in that field when i started playing, especially because there is no way to change it back.

That was the original idea, the reason why the payback was removed was because that's the standard procedure I take when implementing a big change in the way the website works (e.g it was never meant to be permanent).

The website has always let you remove a website, just not change it. There is a button to remove it if you decide you don't want to have the negative effects of it. People can enter a website if they want advertising for it, while still hopefully earning something from the emerald (although they pay a premium for the advertisment).

The house does not get the entire last buy, most of it goes to the last owner, which is why the 40% refund (Of everything the house has earned in the round) is so low. The entire profit is less than half of the last price.

Run though of the house profit with no refund (profit = total house profit if user loses it):

------ROUND 1:
Price: 6.5
Increase: 1.96
Profit: 0.96
Balance: 1.51
Repaid: 0.0
Profit: 1.51
------ROUND 2:
Price: 8.46
Increase: 2.54
Profit: 1.25
Balance: 2.51
Repaid: 0.0
Profit: 2.51
------ROUND 3:
Price: 11.0
Increase: 3.3
Profit: 1.63
Balance: 3.8
Repaid: 0.0
Profit: 3.8
------ROUND 4:
Price: 14.3
Increase: 4.29
Profit: 2.13
Balance: 5.47
Repaid: 0.0
Profit: 5.47
------ROUND 5:
Price: 18.59
Increase: 5.58
Profit: 2.77
Balance: 7.63
Repaid: 0.0
Profit: 7.63
------ROUND 6:
Price: 24.17
Increase: 7.26
Profit: 3.61
Balance: 10.44
Repaid: 0.0
Profit: 10.44
------ROUND 7:
Price: 31.43
Increase: 9.43
Profit: 4.7
Balance: 14.1
Repaid: 0.0
Profit: 14.1

With a refund:

------ROUND 1:
Price: 6.5
Increase: 1.96
Profit: 0.96
Balance: 1.51
Repaid: 1.3
Profit: 0.21
------ROUND 2:
Price: 8.46
Increase: 2.54
Profit: 1.25
Balance: 2.51
Repaid: 1.69
Profit: 0.82
------ROUND 3:
Price: 11.0
Increase: 3.3
Profit: 1.63
Balance: 3.8
Repaid: 2.2
Profit: 1.6
------ROUND 4:
Price: 14.3
Increase: 4.29
Profit: 2.13
Balance: 5.47
Repaid: 2.86
Profit: 2.61
------ROUND 5:
Price: 18.59
Increase: 5.58
Profit: 2.77
Balance: 7.63
Repaid: 3.71
Profit: 3.92
------ROUND 6:
Price: 24.17
Increase: 7.26
Profit: 3.61
Balance: 10.44
Repaid: 4.83
Profit: 5.61
------ROUND 7:
Price: 31.43
Increase: 9.43
Profit: 4.7
Balance: 14.1
Repaid: 6.28
Profit: 7.82

As you can see, the house doesn't make exactly what you thought. I take away the refund while testing brand new features just to make sure that the house doesn't go bankrupt from a bug, or at least not owe as much that it doesn't have.

Don't worry about the refund; it will be back soon. I'm pretty sure I've got all the bugs out now (The testing server = the production server so proper precautions and testing is essential)

EDIT: The refund is back, I think it's safe enough to be there now.

[Bytas]

That's not what you said before Lucas

there is no mention of the removal being temporary, quite the contrary

EDIT: I removed the refund, it wasn't really much support if you lost the emerald. I can reinstate it if people think it was really worth it (And GForce will be paid the refund if it isn't bought off him).

I understand the game, so no need to apologize for that.

Glad the refund is back though.

[LucasJones]

That's not what you said before Lucas

there is no mention of the removal being temporary, quite the contrary

EDIT: I removed the refund, it wasn't really much support if you lost the emerald. I can reinstate it if people think it was really worth it (And GForce will be paid the refund if it isn't bought off him).

I understand the game, so no need to apologize for that.

Glad the refund is back though.

Oh, I apologise. My intention was to remove it temporarily, but I guess I got a bit caught up in the thread and wrote something different to what I intended

It's good to clear that up, if you have any problems or suggestions just run them by me and I'll see what I can do

[saigo]

I lost the emerald on reset for the first time, but at such a low price.. the game is dying because not enough new players joining who don't yet know not to buy at higher value.

Need to find a new game plan, this one is dying.

[GForce]

You win Digigami

[Digigami]

Ya know, when it comes to this game winning kinda sucks! 

but I haven't given up yet! I know someone out there really wants to take their turn holding this shiny Emerald!

p.s. kinda cool, there is a shoutbox on the Emerald site now too, come say Hi so I can talk you into buying this thing back