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Author Topic: [WEEKEND ROUND WITH JACKPOT] BitCat.ch - automated bitcoin game.  (Read 32382 times)
MtRev
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July 05, 2011, 11:46:33 PM
 #141

You can just buy with different addresses as many times as you want, its the same thing as doing it all at once. The only different is you paying the 0.0005 transaction fee which is so small it doesn't even matter.

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TheBitMan
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July 05, 2011, 11:48:44 PM
 #142

You can just buy with different addresses as many times as you want, its the same thing as doing it all at once. The only different is you paying the 0.0005 transaction fee which is so small it doesn't even matter.
GENIUS! lol I didn't think of that. BTW - site owner it says "games" but there is only one game 0.o
MtRev
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July 05, 2011, 11:49:16 PM
 #143

By the way, to keep this game active and growing, you can put a link on your sig and start replying back to other threads/topics. This will attract new faces which will only snowball if they put it on their sig as well. =]

Well, guys have fun and good luck, I got to get ready for work, see you guys in a few hours!

You can just buy with different addresses as many times as you want, its the same thing as doing it all at once. The only different is you paying the 0.0005 transaction fee which is so small it doesn't even matter.
GENIUS! lol I didn't think of that. BTW - site owner it says "games" but there is only one game 0.o

Haha, thank you!

Yes, the site owner planned on having multi games running at different rates, but It seems like he been working on day and now went to bed. I'm sure he will have more games running in a day or two.

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TheBitMan
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July 05, 2011, 11:50:54 PM
 #144

How does one lose coins?
edd
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July 05, 2011, 11:54:26 PM
 #145

How does one lose coins?

The game ends and whoever hasn't gotten paid yet loses out.

Still around.
geek-trader
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July 05, 2011, 11:56:16 PM
 #146

RE: getting paid

I see a few people might be unclear on exactly how this works.

You get paid when enough bets have been made by people after you to pay out to you.

So, person 1 bets .5, to get paid .6.  the pot is now .5
person 2 bets .5, the pot is now 1.0 so person1 gets paid .6, the pot is now .4
person 3 bets .5, the pot is now .9, so person 2 gets paid .6.  The pot is now .3
etc...

you can see how it will take longer and longer to get paid.  eventually, someone (or many someones) gets stuck not paid, because no one new is betting.

That's why it's called gambling.  You might lose.

However, if we keep new people coming in, we'll all get paid.

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Tronlet
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July 06, 2011, 12:09:29 AM
 #147

By the way, to keep this game active and growing, you can put a link on your sig and start replying back to other threads/topics. This will attract new faces which will only snowball if they put it on their sig as well. =]
However, if we keep new people coming in, we'll all get paid.

Not really, this will just delay the inevitable. The longer it goes on, the more difficult it will become to keep the game going, and this difficulty will go up exponentially. Unless we have round ends, bitcat.ch will slow to a stop.

An idea I think would be nice is if instead of at the end, all of the current pot going to the last person to put a transaction in, it could all be split among those who had not yet been paid out. Instead of all the last payers losing everything, and having people rushing to get in the last transaction so they'd get the biggest payout of all, everyone who hadn't gotten their payout would at least get something back, even if it wasn't the amount they put in. (FYI, not saying this from a sore loser perspective, so far I've never lost.)

geek-trader
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July 06, 2011, 12:19:27 AM
 #148

the advantage to "last in gets paid", especially with a minimum bet, is that some more people come in at the end, instead of the round slowly grinding to a halt


But the split idea has merit, also.  better some stop loss than lose it all.

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Tronlet
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July 06, 2011, 12:27:01 AM
 #149

the advantage to "last in gets paid", especially with a minimum bet, is that some more people come in at the end, instead of the round slowly grinding to a halt


But the split idea has merit, also.  better some stop loss than lose it all.

Good point, I'm divided now. They do both have their benefits.

rizzn
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July 06, 2011, 12:42:06 AM
 #150

RE: getting paid

I see a few people might be unclear on exactly how this works.

You get paid when enough bets have been made by people after you to pay out to you.

So, person 1 bets .5, to get paid .6.  the pot is now .5
person 2 bets .5, the pot is now 1.0 so person1 gets paid .6, the pot is now .4
person 3 bets .5, the pot is now .9, so person 2 gets paid .6.  The pot is now .3
etc...

you can see how it will take longer and longer to get paid.  eventually, someone (or many someones) gets stuck not paid, because no one new is betting.

That's why it's called gambling.  You might lose.

However, if we keep new people coming in, we'll all get paid.

I like the limits, it keeps things moving, but I also wouldn't mind a higher stakes table/round at some point. You know, for the high rollers. Smiley

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Alex Beckenham
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July 06, 2011, 01:22:34 AM
 #151

as an earlier post mentioned, you can make as many .5 BTC bets in a row as you like.

With less risk... if you pay 5 btc in one hit but the pot only ever reaches 5.99 on your turn, you get nothing.

But if instead you had played 0.5 btc 10 times, you'd get 9 of them paid out.

Edit: Where the risk is higher with this strategy is getting all 10 of your plays submitted before other players... at least with one big play it's easier to race.

Jimerson
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July 06, 2011, 02:39:18 AM
 #152

I agree with the smaller amounts. It allows the game to keep moving. Large bets stop people from playing as they worry about the cutoff time.

MtRev
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July 06, 2011, 02:43:56 AM
 #153

Small or large, it does the same thing.
Whats the difference of 100 people puts in 0.5 BTC vs. 1 person putting in 50.0 BTC?
They both equal to the same amount in the pool.

You need a web designer? I'm offering big agency quality, without the big agency invoices!
Drop me a message; will work for BTC, LTC & PPC =]
geek-trader
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July 06, 2011, 02:45:57 AM
 #154

Small or large, it does the same thing.
Whats the difference of 100 people puts in 0.5 BTC vs. 1 person putting in 50.0 BTC?
They both equal to the same amount in the pool.

because this pool is so transparent, people see the big bet and get scared off, afraid they won't get paid.  That the big bet will clog up the pool.

However, a long list of unpaid's is also "scary".  Not as much, I dont think, but that's a personal opinion.

Make 1 deposit and earn BTC for life! http://bitcoinpyramid.com/r/345
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Alex Beckenham
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July 06, 2011, 02:47:27 AM
 #155

Small or large, it does the same thing.
Whats the difference of 100 people puts in 0.5 BTC vs. 1 person putting in 50.0 BTC?
They both equal to the same amount in the pool.

If someone were allowed to place 50 BTC in one hit, and you were visiting the site at the same time as them, then if they get in just ahead of you, you'd have to wait for 60 BTC to get paid out before you get anything.

On the other hand, if there were a bet limit of say 0.5 BTC and you were visiting the site at the same time as one hundred other people, then you have more chance of racing to get in ahead of them.

MtRev
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July 06, 2011, 02:54:36 AM
 #156

I do get your point, but personally, i don't think it would be much of a difference, I mean look at it now.

Either way though, I believe the admin will create different rates so, so we just need to hang in there a bit longer.

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Alex Beckenham
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July 06, 2011, 03:05:03 AM
 #157

I was all looking forward to playing this round, but my reason for not playing this one at all was that there is no end time listed.

Tronlet
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July 06, 2011, 03:10:35 AM
 #158

Exactly. I played it a little bit briefly at the very beginning, but no ending time doesn't encourage investments.

MtRev
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July 06, 2011, 03:17:54 AM
 #159

Someone said earlier having the last player win the pot. I like this idea, but instead of the last player, how about the last 5 players.

And instead of a set time for it to end, how about 12 hours no deposits, then it ends.

You need a web designer? I'm offering big agency quality, without the big agency invoices!
Drop me a message; will work for BTC, LTC & PPC =]
MtRev
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July 06, 2011, 03:41:41 AM
 #160

It's not that the game was winding down, it was more like different time zones, some people went to bed, some went to eat lunch. It was just a matter of time before it starts to pick back up again. It is nice to see things moving again though. =]

You need a web designer? I'm offering big agency quality, without the big agency invoices!
Drop me a message; will work for BTC, LTC & PPC =]
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