coinsp.in Two-Up! Soft Opening

[coinsp.in]

Hello all,

coinsp.in, a new cryptocurrency gaming startup, is pleased to announce the soft opening of our initial game, Two-Up!, a simple coin-flip game.

To commemorate this occasion, we are hosting a contest.  The rules are simple, register an account with a valid email address, once your new account is verified you'll be credited with BTC1 of play money.  This play money is not able to be withdrawn.  The winner is the user with the greatest balance on 7 July 2013 12:00 AM EDT, and will be rewarded with BTC1.  Additionally, we will offer 5 rebuys per user starting 30 June 2013 12:00 AM EDT at the rate of BTC1 of play money for BTC0.01.  The contest starts in approximately three hours from this posting, or 23 June 2013 12:00 AM.  Only one account is allowed per person.

Please feel free to take a look around and register an account, but be aware that all user data besides login information will be deleted at the start of the contest.

We welcome and appreciate all comments and criticisms, so please don't be shy in responding to this thread or sending us email at info@coinsp.in.

Thanks for taking a look, and good luck!

Update (22 June 2013, 12:00 AM):

The promotion is now active.  Good luck everyone.

Update (28 June 2013, 3:45 PM):

coinsp.in is sad to announce that we will be ending this promotion early.  We feel that the game, while unique in the Bitcoin gambling world, is simply unmarketable in its current state.  The winner of the contest will be paid, regardless, as soon as we receive a Bitcoin address to send funds to.  We thank everyone that stopped by to give it a shot.

We still have plans for a rework of this game to make it more appealing to users, and ideas for new, unique games.  Stay on the lookout for further announcements.  Also, please feel free to sign up on our website to receive email notification of future developments.

Regards,
The coinsp.in team

[🏰 TradeFortress 🏰]

The game is pretty cool. Higher max bet pl0x when you launch.

[coinsp.in]

The game is pretty cool. Higher max bet pl0x when you launch.

Thanks for the feedback!  Our intent at the moment is to open with a maximum bet of BTC0.25 at launch.  That amount will scale depending on profitability and outside investments.

[Rippyzippers]

Looks nice so far.

I'm not overly fond of the fact that you can't end your game if you win twice in a row, but I understand why that may be the case.


Cool to see something a little different, turned my 1.00 BTC into 1.15 so far. This can get addicting I could see



So any play money gained between now and 3 hours from now(less now) will be reset?

[coinsp.in]

Looks nice so far.

I'm not overly fond of the fact that you can't end your game if you win twice in a row, but I understand why that may be the case.


Cool to see something a little different, turned my 1.00 BTC into 1.15 so far. This can get addicting I could see



So any play money gained between now and 3 hours from now(less now) will be reset?

We will be sure to discuss the possibility of adding additional payouts for 2 and 4 flip wins before we go live, but we don't want to change the rules so close to the opening of our promotion.  Thanks for the suggestion

It is correct that we will be resetting balances at the start of the promotion, in about 1 hour.

[coinsp.in]

Our promotion is now active.

To recap, it will run for two weeks from today, until 7 July 2013 12:00 AM EDT.  Starting in one week (30 June 2013 12:00 AM EDT), we will allow up to 5 rebuys per user at a rate of BTC1 play money per BTC0.01.  The user with the highest balance wins BTC1.

Our expected Grand Opening will be 14 July 2013.

Thanks everyone for playing, and good luck!

Edit:

There was a slight hiccup that has been corrected.  For anyone that happened to notice the issue, we apologize and your balance has been reset.

[KingOfSports]

Can you provide us with the EV / house edge for this game and the different options? Like obviously you pay 1.98x on a 50/50 bet but what is the house edge or EV in the long run for the 30x / 500x and JP payouts?

[🏰 TradeFortress 🏰]

After losing my entire balance, I have decided that it's an unwise idea to play this game

[vlees]

The popup box says Your bet is invalid, valid bets are ฿0.00000001 to ฿10000000.
But when you enter anything above 0.1 it tells you it's too much.

[coinsp.in]

Can you provide us with the EV / house edge for this game and the different options? Like obviously you pay 1.98x on a 50/50 bet but what is the house edge or EV in the long run for the 30x / 500x and JP payouts?

I can, and your question helped to uncover a serious issue, so thank you.  Here are the current numbers:

Code:

Game	Chance		Payout	HE
1	50%		1.98x	1%
2	3.125%		30x	6.25%
3	0.1953125%	500x	2.34375%
4	0.1953125%			

They're not so good.  It looks like we decided to go with pretty numbers instead of mathematically sensible numbers.  So to fix this situation, we're going to change to a new chart:

Code:

Game	Chance		Payout	HE
1	50%		1.98x	1%
2	3.125%		31.68x	1%
3	0.1953125%	506.88x	1%
4	0.1953125%	

These changes will be active at the time of this post.

Additionally, any balances that are less than BTC1 will be reset, but in hopes of remaining fair to current players that are ahead, 1 of their 5 rebuys will be used up by this reset.

Another thing that I actually discovered this morning myself is that the Jackpot scales based on how much you bet.  So if you bet the max bet, and you win the jackpot, you get 100% of it, but if you're only betting half of the max bet, you'd only win 50% of the jackpot.

After losing my entire balance, I have decided that it's an unwise idea to play this game

We want you back!  Your account is among the ones being reset, so at least we hope you play again

The popup box says Your bet is invalid, valid bets are ฿0.00000001 to ฿10000000.
But when you enter anything above 0.1 it tells you it's too much.

This error has been fixed, thank you for pointing it out.  

[Boelens]

Hey there! Just tried playing, are you sure registration is working? I just tried and it says it sends me an e-mail, but I'm not getting anything, not in my spam filter either. I tried re-regestering which said the same, but again, no e-mail. I also tried logging in but it just redirects me to the registration form.

EDIT: Nevermind. Got it now, just took a while.

[coinsp.in]

The promotion for coinsp.in Two-Up! is ending early.  Information is available in the top post of this thread.  Thanks everyone for trying it out, and we hope to see you again in the future.

[TheShape]

I don't get lucky very often, But holy wow.

http://img853.imageshack.us/img853/153/j7ki.jpg

[TheShape]

Not sure if I win or not...

Here's my Bitcoin address anyways

15cR7up3ibWT99QuUvC7SBYoZqE9gAH7h8

[Rippyzippers]

Wow

What are the chances hahah
Congrats!

[i3lome]

Ive gotten a few 30x but never the 500x

[Rippyzippers]

Any word on the site owners coming back to pay anyone?

Weird

[coinsp.in]

A quick update, i3lome is the winner of this promotion and will be paid as soon as he responds to us with a bitcoin address to send funds to.

TheShape's account was created after we ended our promotion, but in recognition of him winning the most difficult bet on the site, he was paid a consolation prize of BTC0.1.  The transaction can be viewed here: 0e5b3b458a93889d098d6294246f352a28877f938aff8616db1f5d6f7e1bc9ef.

[i3lome]

1Kzi1YHZTug8FWZngGyjRUV1RSani4zSun

Wooo hooo there is my address I will confirm when payment is received.

[coinsp.in]

Payment is sent.  Thanks, i3lome.