[WEEKEND ROUND WITH JACKPOT] BitCat.ch - automated bitcoin game.

[adalov]

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.

[xyu]

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

[xyu]

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.

[TheBitMan]

It's much slower than it usually was. You should advertise on http://www.operationfabulous.com/

[adalov]

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.

[TheBitMan]

True but since we are betting higher that makes it seem like it's going slower. That's actually just what you said lol.

[TheBitMan]

There is one problem with his site that we all have to admit...it's EXTREMELY addicting!

[TheBitMan]

I think you should increase the minimum so people get paid out quicker 
And you scared me for a second when it went offline

[geek-trader]

It's back.  Yes!

I missed the very start of the round, but I'm for 2 now.

[natobombs]

how long does the payout usually take? and how do you know if you won anything?

[adalov]

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.

[natobombs]

its been 48hours it that normal?

[geek-trader]

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.

[adalov]

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.

[geek-trader]

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"   

[MtRev]

Today is the first day of the round, the earlier you join the better your chances.

[pbj sammich]

nm my fault

[KorJax]

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?

[adalov]

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.

[Jimerson]

This round is going very well. I have been paid out 2 times now and re-invested.