Show BitcoinTalk: KOIN Multiplier

[bitcoinoso]

Greetings friends of the crypto-world,

Just launched a simple dice-like Bitcoin game  at:

https://koinmultiplier.com/ - KOIN Multiplier

This is how it works
1. You send 0.001 BTC to the address on screen. Only 0.001 not more, not less.
2. Every 3rd transaction that gets 3 confirmations will win x2 = 0.002
3. All transactions are shown on screen for you to follow the confirmation process live.

Please take a look and let me know what you think. My goal is to make it as fair as possible and instantaneous, you are send the Bitcoins as soon as you win.

Thanks in advanced

bitcoinOSO

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[retampan]

Every 3rd transaction that gets 3 confirmations will win x2 = 0.002

I saw there is more than 3rd first transaction that has 3x confirmation. How about the house edge? Is there no house edge? Then how you'll get profit with it?

My goal is to make it as fair as possible and instantaneous, you are send the Bitcoins as soon as you win.

So, you are manually sending the winner 0.002 worth of BTC, right?

[jhenfelipe]

Every 3rd transaction that gets 3 confirmations will win x2 = 0.002

I saw there is more than 3rd first transaction that has 3x confirmation. How about the house edge? Is there no house edge? Then how you'll get profit with it?

The chance is 1/3, so for every 3 person who will send 0.001 only one person could win 0.002. Total for 3 players 0.003 minus the prize of the winner 0.002 equals 0.001 (0.003 - 0.002 = 0.001). Meaning this 0.001 will go to the owner of the site if I'm not mistaken?

[MinerHQ]

Every 3rd transaction that gets 3 confirmations will win x2 = 0.002

I saw there is more than 3rd first transaction that has 3x confirmation. How about the house edge? Is there no house edge? Then how you'll get profit with it?

The chance is 1/3, so for every 3 person who will send 0.001 only one person could win 0.002. Total for 3 players 0.003 minus the prize of the winner 0.002 equals 0.001 (0.003 - 0.002 = 0.001). Meaning this 0.001 will go to the owner of the site if I'm not mistaken?

Yes. This is 30% profit of investing. Owner not do anything and can earn 0.001 BTC. Lol. Ponzi.

That 0.001 BTC considered house edge and it is too for this kind of game. It is 100% Ponzi scheme. After you send money partially it will become your responsibility to protome this site to get back your money so owner no need to do much work to get more and more people. But these things will not work for long because all investors have become smarter will not go to these Ponzi schemes.

[olubams]

Every 3rd transaction that gets 3 confirmations will win x2 = 0.002

I saw there is more than 3rd first transaction that has 3x confirmation. How about the house edge? Is there no house edge? Then how you'll get profit with it?

The chance is 1/3, so for every 3 person who will send 0.001 only one person could win 0.002. Total for 3 players 0.003 minus the prize of the winner 0.002 equals 0.001 (0.003 - 0.002 = 0.001). Meaning this 0.001 will go to the owner of the site if I'm not mistaken?

That's exactly the only explanation this can be given because it seems Op wants people to just send money and hope to be the third person who did same. But he didn't tell us how the third person is going to be determined. Winning in gambling is not this easy and when it seems so, its an indication that the money is going out with no hope of coming back. I don't understand why someone will design something like this with element of ponzi scheme written all over it thinking people will just start sending in the money.

[Bitinity]

I wonder why people would be interested to play on this game while they can do it on dice site with a better house edge and better winning chance and of course faster bet without waiting for other players to play. By the way, how to decide the winner of this game? Sorry but I dont understand about it.

[milewilda]

I wonder why people would be interested to play on this game while they can do it on dice site with a better house edge and better winning chance and of course faster bet without waiting for other players to play. By the way, how to decide the winner of this game? Sorry but I dont understand about it.

They are trying to make their own unique game which would really be different from the market but turns out that this game has no sense at all.I would really rather choose up dice or slot games over this one.Too much hassle and yet you would still need to wait for other players same as you said.

[BTCevo]

I wonder why people would be interested to play on this game while they can do it on dice site with a better house edge and better winning chance and of course faster bet without waiting for other players to play. By the way, how to decide the winner of this game? Sorry but I dont understand about it.

They are trying to make their own unique game which would really be different from the market but turns out that this game has no sense at all.I would really rather choose up dice or slot games over this one.Too much hassle and yet you would still need to wait for other players same as you said.

This is not an unique site nor any gambling site that offer something good. He just want to make a ponzi scheme that will lead him into having great branches on low. And if this work he will earn tons of coin in no time. For every 3 confirmation he gets 0.001 btc. This is really great ponzi scheme. This game not going to work here, I believe many of members already stay out from this kind of game long time ago

[bitcoinoso]

Thanks for all the comments and questions.

The system is simple: There is a internal counter, that will select the winner of every 3rd transaction that get 3+ confirmations. You can transparently check all the transactions when they got approved and etc, with the block explorer.

So, you can try to get your transaction confirmed -using the fees- to put your transaction on the winner spot.

The math behind is this

bet 1: 0.001 BTC
bet 2: 0.001 BTC
bet 3: 0.001 BTC

bet 3 wins: gets bet 3 + bet 2 (0.001 + 0.001 = 0.002 BTC)

The house get bet 1 (0.001) minus the transaction fees to send the winning transaction back.

When the volume of transactions is high enough we can increase the winning multiplicand to probably 2.6. But we are not there yet.

I'm more than happy to answer any other question you have.