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adalov
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July 08, 2011, 06:58:13 PM |
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You should probably update the original post. Even though the limits are on the site, the person who just put 5 btc in might have been in the mindset of round 1 after reading the op.
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The Bitcoin network protocol was designed to be extremely flexible. It can be used to create timed transactions, escrow transactions, multi-signature transactions, etc. The current features of the client only hint at what will be possible in the future.
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Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
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xyu (OP)
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July 08, 2011, 07:03:25 PM |
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You should probably update the original post. Even though the limits are on the site, the person who just put 5 btc in might have been in the mindset of round 1 after reading the op.
Updated |
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xyu (OP)
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July 08, 2011, 07:10:09 PM |
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If someone wonders why is it all the first entries appeared in the same time that's because it the time when transaction appeared in the first block.
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adalov
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July 08, 2011, 07:14:48 PM |
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The bet limit is also 4x higher, meaning there are 2-4x less transactions since many people are placing multiple bets. It's probably about the same, just less redundant bets.
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TheBitMan
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July 08, 2011, 07:34:20 PM |
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True but since we are betting higher that makes it seem like it's going slower. That's actually just what you said lol.
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TheBitMan
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July 08, 2011, 07:54:17 PM |
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There is one problem with his site that we all have to admit...it's EXTREMELY addicting!
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TheBitMan
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July 08, 2011, 08:42:05 PM |
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I think you should increase the minimum so people get paid out quicker  And you scared me for a second when it went offline |
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geek-trader
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July 08, 2011, 09:09:57 PM |
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It's back. Yes!
I missed the very start of the round, but I'm for 2 now.
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natobombs
Newbie
 Offline
Activity: 45
Merit: 0
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July 08, 2011, 10:40:18 PM |
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how long does the payout usually take? and how do you know if you won anything?
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adalov
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July 08, 2011, 10:41:26 PM |
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Payout is as soon as it's available. Your receiving address that you input will be next to your deposit in the list. As soon as there is enough money in the pot, you get paid out, so you just have to wait until you're the next in line.
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natobombs
Newbie
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Activity: 45
Merit: 0
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July 09, 2011, 03:48:16 AM |
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its been 48hours it that normal?
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geek-trader
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July 09, 2011, 04:24:51 AM |
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its been 48hours it that normal?
find yourself on the list, by your receiving address. Then you can estimate how many more people need to enter for you to get paid. |
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adalov
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July 09, 2011, 04:26:01 AM |
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If it's been 48 hours you likely played in the last round. Each round will end at the time indicated on the website. Anyone not paid out by the end of the round will not be paid out at all.
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geek-trader
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July 09, 2011, 05:01:19 AM |
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If it's been 48 hours you likely played in the last round. Each round will end at the time indicated on the website. Anyone not paid out by the end of the round will not be paid out at all.
That's why it's called "gambling"  |
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MtRev
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July 09, 2011, 05:36:48 AM |
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Today is the first day of the round, the earlier you join the better your chances.
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Don't trade alone! Let's Talk Money!Stocks, Options, Crypto, Forex, Dividends and the Commodities market
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pbj sammich
Sr. Member
Offline
Activity: 272
Merit: 250
Fighting Liquid with Liquid
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July 09, 2011, 01:05:29 PM
Last edit: July 09, 2011, 01:46:20 PM by pbj sammich |
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nm my fault
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KorJax
Member
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Activity: 62
Merit: 10
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July 09, 2011, 04:26:41 PM |
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Hmm I wonder...
How long does it take to get a payout usually? It appears as if there's enough to fill my 1.2 btc payout ahead of me but it still says I'm unpaid. I wonder if it only does payout if I have confirmations on my end of the client, or maybe the script only does payout at X time during the day?
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adalov
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July 09, 2011, 04:54:30 PM |
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Someone thought the same earlier in the thread. Basically the way it works is people deposit money, then get paid out 1.2 times the amount they put in. So because of this, if someone deposits 1 BTC, then you deposit 1 BTC, they get paid out their 1.2 BTC but now there is only .8 BTC left in the pot. Over time this gap grows larger, so the people in front of you are simply paying off that larger debt. On a larger scale, imagine a total of 100 BTC has been deposited, that means there will be 20 BTC worth of deposits that are unpaid.
This is why it's a pyramid scheme/gamble, there is no way everyone can get paid out and there's going to be some losers in the end. Bernie Madoff was discovered because it went on long enough that the gap was billions of dollars large, we're just dealing with a few BTC.
If you want to figure out how much is left before you get paid you can do it the quick way or the long way:
Long way: Sum up all the deposits, then subtract the paid amounts, then subtract the 3% fee from each deposit (easy to do with spreadsheets). This will leave you with the current amount left in the pool. Then you can use that to subtract from the total BTC left before you're paid out to get the exact amount.
Short way: Assume the pot is 0. Add up all unpaid deposits up to and including your own. This is a rough estimate of how much before you're paid.
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Jimerson
Newbie
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Activity: 22
Merit: 0
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July 09, 2011, 09:06:14 PM |
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This round is going very well. I have been paid out 2 times now and re-invested.
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