Bitcoinduit.com - Two Week Deposits: ฿ 823 - Thanks For Playing!

[Jonathan Ryan Owens]

Total deposits: ฿ 823.29754181
Total live pots: ฿ 10.0132950022
Total live jackpots: ฿ 8.5256849995
Total paid dividends: ฿ 681.5213149505
Total host fee payouts: ฿ 13.6963976869
Total expired pot payouts: ฿ 33.07752541825
Total jackpots paid: ฿ 24.046266999
Total sent to users: ฿ 752.34150505465
Total nonrefundable house fees: ฿ 1.8543
Total expired pot collected: ฿ 33.07752541825
Total house profit: ฿ 34.93182541825
Total refundable house fees pending new deposits: ฿ 0.356
Surplus: ฿ 17.1292313354



August 4, 2011
Jackpot feature has been added. Host will be able to select a % at deposit that goes into the Jackpot for each round. Jackpot will be paid to the last bet before expiration.

Game rules section has been updated below, and is also available here: Game Rules

IMMEDIATE PAYOUT AND 50/50 POT SPLIT WITH THE HOST AT ROUND END

Danke furs Mitspielen, Deutschland!

Tack för att du spela, Sverige!

takk fyrir að spila, iceland!

شكرا للعب، والعراق!

You can set most of the rules yourself, including when the rounds end - i.e. round ends x hours after last bet is received.

Bonus: left over pot at the end of each round 50% to the host (the person who started the round)

Feedback is appreciated!

Thanks!

Jonathan

GAME RULES

Description:

Game Summary:

1. Game Terminology
Ponzi Scheme: A game where the later entrants pay out the earlier entrants
-Named for Charles Ponzi http://en.wikipedia.org/wiki/Charles_Ponzi
Jackpot: A feature where a % of each deposit is taken out and placed into a jackpot
2. Setup
Click create new round at http://www.bitcoinduit.com/ (its at the bottom)
Fill out all the fields (email is optional)
-Round ID: Name of Game
-Host address: Where the fee's received from the game are sent
-ROI: Return on investment. The ROI + 100 is the expected payout amount. 20% ROI for a 1.0 BTC deposit will result in a 1.2BTC payout when pot reaches that amount.
-Host Fee: % of each deposit that will be given to the host.  *Note that 2% will be added on top of the chosen fee to go towards the bitcoinduit site.
-Jackpot: The % of each deposit that will be taken out of the pot and placed into a separate jackpot
-Minimum/Maximum Bet: The lower and upper limit of bets that can be placed.
-Expires after: After how many hours of no one playing before the game will automatically end.
After you click create, you must send the initial deposit to the shown address to officially start the game
3. Gameplay
Click on the desired game
Click play now-get new deposit address
Enter the bitcoin address to which you want to be payed
Click get deposit address
Send your bet to the shown address
Wait for your payout if the pot reaches the necessary amount
Profit
If the game utilizes the jackpot feature, you may want to aim to be the last bet in order to win the jackpot
4. Game End
The game will end when no bets have been placed for the designated number of hours
50% of the remaining pot will go to the host, 50% will go to betcoinduit.com
If the round has a jackpot, then it will be payed out to the last bet's address
5. Credits


Game created by pigki and TT, Copyright 2011
Game Rules written by MasonIII

[1714268969]

1714268969

[1714268969]

1714268969

[TerraformProjectAlpha]

Awesome bump. Good Guy worked with him before.

[Cory]

The site still doesn't load for me.

[Jonathan Ryan Owens]

DNS fixed.

[Jonathan Ryan Owens]

I received a private message and thought I should share with everyone to clarify how depositing and refunds work.

PM:

"Just wanted to let you know that I LOVE your bitcoinduit platform! I've never invested so much money into a project without a background. I trust you'll build up your reputation.

However, I would suggest that you let the round creator know that 2% will always go to Bitcoinduit when they create the round. I didn't see that anywhere.

Anyway, keep up the great work! Do you hang out on IRC or anything like that?"


Thanks! We've put a lot of time into it, and it's been a great exercise in understanding how to work within the constraints of Bitcoin. I hope it is well received!

FYI, to start a game, effectively 10% of the host deposit gets placed into the "fee pool", and as you saw with your 2 Bitcoin deposit, the "pot" is B 1.80. I need to put a bunch more information on there, but the 10% really makes no difference to the first depositor, as if they get a double, the fee is effectively paid by the next 'investor' down the line. Furthermore, if there are NO bets in 24 hours or how ever many hours are set by the Host, the full amount is refunded. Once more people deposit into your hosted game, you receive a fee that you've set in the creation of the round (called "host fee").

The coolest part is really that we host the instant payout mechanism for you, which is a great way to keep these types of games moving along quickly.

Regards,
Jonathan

[Cory]

Hey, excellent response. The more transparent this can be, the better! So 10% of the original deposit + 2% of each further deposit goes to the pool if there are two or more investors?

You should include the number of deposits as a statistic on the front page. That's one of the first things I like to know before I get into a flip game!

Also, I'll be making a couple more deposits into my Cheapskates game soon, if any lurkers want to try this out without risking much (0.1 minimum, 0.3 maximum)! http://www.bitcoinduit.com/game/viewRound.php?id=Cheapskates

[Jonathan Ryan Owens]

Hey, excellent response. The more transparent this can be, the better! So 10% of the original deposit + 2% of each further deposit goes to the pool if there are two or more investors?

You should include the number of deposits as a statistic on the front page. That's one of the first things I like to know before I get into a flip game!

Also, I'll be making a couple more deposits into my Cheapskates game soon, if any lurkers want to try this out without risking much (0.1 minimum, 0.3 maximum)! http://www.bitcoinduit.com/game/viewRound.php?id=Cheapskates

The fee you set at the beginning of the round is the % you get as host whenever a new deposit is made in your game. In your case, 4% of each deposit is automatically paid to you when a new deposit is made, for each deposit that's ever made in your round. We will probably change this to payout at a threshold, but for now it's more interactive to just pay the tx fee for any amount.. 0.0005 tx is worth rapid testing.

Regards,
Jonathan

[MasonIII]

Its been awhile since I started one of these, back when spreadsheet games were all the rage. I started a new round that returns 110% of the original bet with a 5% fee.  The min/max is 0.1/1.0 BTC.  Its located at http://www.bitcoinduit.com/game/viewRound.php?id=Lowballers  If anyone would like to try it out, it JUST started, and hopefully will cycle through for awhile.

To pigki, the site so far seems great.  Its smooth with a very simple interface.  Kudos for making it, I like it a lot.

[Jonathan Ryan Owens]

Hey, excellent response. The more transparent this can be, the better! So 10% of the original deposit + 2% of each further deposit goes to the pool if there are two or more investors?

You should include the number of deposits as a statistic on the front page. That's one of the first things I like to know before I get into a flip game!

Also, I'll be making a couple more deposits into my Cheapskates game soon, if any lurkers want to try this out without risking much (0.1 minimum, 0.3 maximum)! http://www.bitcoinduit.com/game/viewRound.php?id=Cheapskates

Number of deposits for each game is now listed on the Tables page.

http://www.bitcoinduit.com/game/viewRoundSet.php

Regards,
Jonathan

[Jonathan Ryan Owens]

Its been awhile since I started one of these, back when spreadsheet games were all the rage. I started a new round that returns 110% of the original bet with a 5% fee.  The min/max is 0.1/1.0 BTC.  Its located at http://www.bitcoinduit.com/game/viewRound.php?id=Lowballers  If anyone would like to try it out, it JUST started, and hopefully will cycle through for awhile.

To pigki, the site so far seems great.  Its smooth with a very simple interface.  Kudos for making it, I like it a lot.

Thanks! I just noticed your 5% fee (2% to the house and 5% to you = 7%) on the second deposit got locked, fixing now. You should see a small tx come in shortly.. Work in progress..

[MasonIII]

Its been awhile since I started one of these, back when spreadsheet games were all the rage. I started a new round that returns 110% of the original bet with a 5% fee.  The min/max is 0.1/1.0 BTC.  Its located at http://www.bitcoinduit.com/game/viewRound.php?id=Lowballers  If anyone would like to try it out, it JUST started, and hopefully will cycle through for awhile.

To pigki, the site so far seems great.  Its smooth with a very simple interface.  Kudos for making it, I like it a lot.

Thanks! I just noticed your 5% fee (2% to the house and 5% to you = 7%) on the second deposit got locked, fixing now. You should see a small tx come in shortly.. Work in progress..

Thanks!  To the people who are playing lowballers, my apologies, i did not realize that 110% meant 2.1x instead of 1.1x nor a 2% fee would be added on top of my game.  Therefore to clarify, it is 2.1x and a (5+2)% fee.

[Jonathan Ryan Owens]

Its been awhile since I started one of these, back when spreadsheet games were all the rage. I started a new round that returns 110% of the original bet with a 5% fee.  The min/max is 0.1/1.0 BTC.  Its located at http://www.bitcoinduit.com/game/viewRound.php?id=Lowballers  If anyone would like to try it out, it JUST started, and hopefully will cycle through for awhile.

To pigki, the site so far seems great.  Its smooth with a very simple interface.  Kudos for making it, I like it a lot.

Thanks! I just noticed your 5% fee (2% to the house and 5% to you = 7%) on the second deposit got locked, fixing now. You should see a small tx come in shortly.. Work in progress..

Thanks!  To the people who are playing lowballers, my apologies, i did not realize that 110% meant 2.1x instead of 1.1x nor a 2% fee would be added on top of my game.  Therefore to clarify, it is 2.1x and a (5+2)% fee.

We'll be making it easier to understand very shortly, and we do need to give better context to the game setup options. Looks like you already got paid, though, so I don't think you're really complaining lol.

[Cory]

I'd love to see some sort of incentive to keep these games going once they start slowing down.

If, say, half of the pot goes to the last bidder, I'd bet the house would make more money.

Because right now the house gets the entire leftover pot, right?

[Jonathan Ryan Owens]

I'd love to see some sort of incentive to keep these games going once they start slowing down.

If, say, half of the pot goes to the last bidder, I'd bet the house would make more money.

Because right now the house gets the entire leftover pot, right?

Actually, right now the house favors the people Hosting games - the round Host can set fees above the house 2% deposit fee, up to 10%, and pocket that from each deposit as they happen.

Half the pot at the end of the round is split 50/50 with the Host. If there's enough feedback to support it, we can add a feature to allow for 50/50 split with last bet in. That's a good idea.. Should that be a feature? I wonder if the Hosts would really want to give up 50% of the pot at the end of the game? Maybe they would because there'd be more deposits, and more deposit fees streaming into their wallet..

Hmm..

[Cory]

I'd love to see some sort of incentive to keep these games going once they start slowing down.

If, say, half of the pot goes to the last bidder, I'd bet the house would make more money.

Because right now the house gets the entire leftover pot, right?

Actually, right now the house favors the people Hosting games - the round Host can set fees above the house 2% deposit fee, up to 10%, and pocket that from each deposit as they happen.

Half the pot at the end of the round is split 50/50 with the Host. If there's enough feedback to support it, we can add a feature to allow for 50/50 split with last bet in. That's a good idea.. Should that be a feature? I wonder if the Hosts would really want to give up 50% of the pot at the end of the game? Maybe they would because there'd be more deposits, and more deposit fees streaming into their wallet..

Hmm..

I would add it to my games.

And even if others wouldn't, what harm is there in having the option?

I had no idea that the pot was split with the host at the end. That's the kind of thing that should be included on the site, hehe. I know I know, "work in progress".

I really do appreciate your timely responses. I think this will turn into something great.

[Dragonlord]

I would like an option to choose a percentage that would go to a jackpot.

[Jonathan Ryan Owens]

I would like an option to choose a percentage that would go to a jackpot.

That's a great idea, Dragonlord.

How would this theoretical jackpot work?

[Cory]

I would like an option to choose a percentage that would go to a jackpot.

That's a great idea, Dragonlord.

How would this theoretical jackpot work?

It would be neat if the host could decide what percentage of the leftover pot(after house fees, if applicable) goes to the final bidder. That's how I interpreted his statement, anyway.

[Dragonlord]

I would like an option to choose a percentage that would go to a jackpot.

That's a great idea, Dragonlord.

How would this theoretical jackpot work?

The same way that bitcat.ch works.
The person with the last deposit before the game ends gets the jackpot.

[Jonathan Ryan Owens]

I would like an option to choose a percentage that would go to a jackpot.

That's a great idea, Dragonlord.

How would this theoretical jackpot work?

It would be neat if the host could decide what percentage of the leftover pot(after house fees, if applicable) goes to the final bidder. That's how I interpreted his statement, anyway.

Ok, so instead of a 50/50 split, the Host could decide to dilute both the house and host fees? I'm ok with that - as long as the reduction is evenly split between the Host and the House.. We are partners, after all.

It would look like this:

As is 50/50 50% to the Host, 50% to the House.

Host decides to give 25% of the pot to the last player in, and the remainder 37.5/37.5 is split between the Host and the House.

Is this correct?

Regards,
Jonathan

[Cory]

I would like an option to choose a percentage that would go to a jackpot.

That's a great idea, Dragonlord.

How would this theoretical jackpot work?

It would be neat if the host could decide what percentage of the leftover pot(after house fees, if applicable) goes to the final bidder. That's how I interpreted his statement, anyway.

Ok, so instead of a 50/50 split, the Host could decide to dilute both the house and host fees? I'm ok with that - as long as the reduction is evenly split between the Host and the House.. We are partners, after all.

It would look like this:

As is 50/50 50% to the Host, 50% to the House.

Host decides to give 25% of the pot to the last player in, and the remainder 37.5/37.5 is split between the Host and the House.

Is this correct?

Regards,
Jonathan

That is perfect!

[Jonathan Ryan Owens]

Haha.. A friendly user sent this one to my PM.. For shame!

[Cory]

Something about http://www.bitcoinduit.com/game/viewRound.php?id=Bitcoinduit_OFFICIAL seems fishy. You're not going to allow that kind of deceit, right?

I think that you should definitely make email alerts opt-in. I signed up with my email so I could be contacted/verified if something went wrong, but I really don't want an email every time somebody invests in my round.

[Jonathan Ryan Owens]

Something about http://www.bitcoinduit.com/game/viewRound.php?id=Bitcoinduit_OFFICIAL seems fishy. You're not going to allow that kind of deceit, right?

I think that you should definitely make email alerts opt-in. I signed up with my email so I could be contacted/verified if something went wrong, but I really don't want an email every time somebody invests in my round.

Considering that we don't host the games ourselves, i'd say you're right. Tsk tsk, Bitcoinduit_OFFICIAL Host.. Tsk tsk..

What should I do about it? Rename his round?

Suggestions?

Also, we're handling the email. You'll only get an email for round creation, round expiration and when your deposit is paid out. Good? You had the option to leave your email out of it, but then the email trolls got hold of it and they have their way, those trolls. You can always just keep it anonymous.

[Cory]

Hahahaha, I'm loving your posts!

Renaming his round would probably be the best course of action.

And those revised email triggers do sound a lot better.

[Jonathan Ryan Owens]

The rounds are now sorted 1. by the time of the last deposit, 2. by the number of deposits.

Regards,
Jonathan

[Cory]

I'm really liking all of these updates, but I dunno if that NSFW background(or even the link to the index) are helping too much.
I'm pretty sure the sexy women won't encourage anybody to play who wouldn't otherwise, but there's a decent chance that somebody who navigates to that page with the intention of playing while their monitor is in view of others may quickly navigate away. D:

[Jonathan Ryan Owens]

I'm really liking all of these updates, but I dunno if that NSFW background(or even the link to the index) are helping too much.
I'm pretty sure the sexy women won't encourage anybody to play who wouldn't otherwise, but there's a decent chance that somebody who navigates to that page with the intention of playing while their monitor is in view of others may quickly navigate away. D:

Check the site now. How's that?

[Cory]

ROFL.

And your game rules. Are you trying to blind me?? (The link's wrong; it should link to the first page of the thread instead of the second)

[Jonathan Ryan Owens]

ROFL.

And your game rules. Are you trying to blind me?? (The link's wrong; it should link to the first page of the thread instead of the second)

Refresh. Make sure your speakers are on. Let me know if your mouth starts to foam.

Let's get a line of thought going on how to brand this. I am up to do anything with it, as long as it's ridiculous.

[Cory]

Earlier in the thread, you said:

Furthermore, if there are NO bets in 24 hours or how ever many hours are set by the Host, the full amount is refunded.

One of my rounds, http://www.bitcoinduit.com/game/viewRound.php?id=Zero_Host_Fee_Doubler , just expired without any other bids. However, I only received 90% of my investment back. It looks like a bug caused the house to keep the 10% fee.

[Dragonlord]

Whats with the old geezers background? It makes the text really hard to read.
The description on top of the page and the disclaimer looks like a copy and paste from a financial scam website.
The rules page looks like a hacker website: "All your bitcoins are belong to us" 
I'm not sure where you are going with this site, but I'm sorry, I don't like it the way it is now. It looks too much like a scam.

[Cory]

Whats with the old geezers background? It makes the text really hard to read.
The description on top of the page and the disclaimer looks like a copy and paste from a financial scam website.
The rules page looks like a hacker website: "All your bitcoins are belong to us" 
I'm not sure where you are going with this site, but I'm sorry, I don't like it the way it is now. It looks too much like a scam.

I agree, it is certainly not professional, but I think the owner's just being silly.
I'm glad you brought it up, though. I'd be willing to bet a lot of people think like you, and are deterred by the silliness. Based on that, I think that the site should be redesigned to look more trustworthy.

[Jonathan Ryan Owens]

Earlier in the thread, you said:

Furthermore, if there are NO bets in 24 hours or how ever many hours are set by the Host, the full amount is refunded.

One of my rounds, http://www.bitcoinduit.com/game/viewRound.php?id=Zero_Host_Fee_Doubler , just expired without any other bids. However, I only received 90% of my investment back. It looks like a bug caused the house to keep the 10% fee.

PM me your receiving address and amount. I'll send it to ya.

[Jonathan Ryan Owens]

Whats with the old geezers background? It makes the text really hard to read.
The description on top of the page and the disclaimer looks like a copy and paste from a financial scam website.
The rules page looks like a hacker website: "All your bitcoins are belong to us" 
I'm not sure where you are going with this site, but I'm sorry, I don't like it the way it is now. It looks too much like a scam.

I agree, it is certainly not professional, but I think the owner's just being silly.
I'm glad you brought it up, though. I'd be willing to bet a lot of people think like you, and are deterred by the silliness. Based on that, I think that the site should be redesigned to look more trustworthy.

Site has gone back to a more vanilla state. I'm not sure that I want to change the description though, and the disclaimer at the bottom. Frankly, if someone doesn't get the joke, we probably don't want them playing the game.

It's obviously not a savvy financial investment, but a fun game. AMIRIGHT?

[Cory]

Earlier in the thread, you said:

Furthermore, if there are NO bets in 24 hours or how ever many hours are set by the Host, the full amount is refunded.

One of my rounds, http://www.bitcoinduit.com/game/viewRound.php?id=Zero_Host_Fee_Doubler , just expired without any other bids. However, I only received 90% of my investment back. It looks like a bug caused the house to keep the 10% fee.

PM me your receiving address and amount. I'll send it to ya.

Alright. You fix the bug?

[Jonathan Ryan Owens]

Earlier in the thread, you said:

Furthermore, if there are NO bets in 24 hours or how ever many hours are set by the Host, the full amount is refunded.

One of my rounds, http://www.bitcoinduit.com/game/viewRound.php?id=Zero_Host_Fee_Doubler , just expired without any other bids. However, I only received 90% of my investment back. It looks like a bug caused the house to keep the 10% fee.

PM me your receiving address and amount. I'll send it to ya.

Alright. You fix the bug?

Pretty sure! Gotta wait for the next round to end betless to find out.. I refunded you the B 0.2, which was the 10% deposit fee that not returned on the round expiring with no bets. I'm thinking in the future I should at least subtract the 0.0005 tx fee when that happens, but maybe not. Sometimes I have to pay tx fee, sometimes I don't. Either way, it's set to pay the minimum for tx.

Anyhow, if the bug isn't fixed yet we'll find out and dig in deeper to ensure smooth sailing.

Regards,
Jonathan

[Jonathan Ryan Owens]

PLAYER POLL

1. What features do you like the most on Bitcoinduit - i.e. Instant Payout, Round Creation Rules, etc..

2. What features would you like to see on Bitcoinduit? - i.e. Jackpot, Unique Pot Split Types, etc..

Your input will help to make a game that you (and hopefully others) will like even more!

Regards,
Jonathan

[Dragonlord]

Site has gone back to a more vanilla state. I'm not sure that I want to change the description though, and the disclaimer at the bottom. Frankly, if someone doesn't get the joke, we probably don't want them playing the game.

It's obviously not a savvy financial investment, but a fun game. AMIRIGHT?

That is much better! I like the new background image. It's now a lot easier to read the text.

The first part of the disclaimer is good, but I'm not sure about the "Your best chance is to host a game yourself" part. I think it encourages people too much to start a new game instead of playing an existing one.

[Jonathan Ryan Owens]

Site has gone back to a more vanilla state. I'm not sure that I want to change the description though, and the disclaimer at the bottom. Frankly, if someone doesn't get the joke, we probably don't want them playing the game.

It's obviously not a savvy financial investment, but a fun game. AMIRIGHT?

That is much better! I like the new background image. It's now a lot easier to read the text.

The first part of the disclaimer is good, but I'm not sure about the "Your best chance is to host a game yourself" part. I think it encourages people too much to start a new game instead of playing an existing one.

Well, we designed this to encourage people to host and market their own games. We'll be giving the hosts a cleaner link to rounds soon, ex: http://bitcoinduit.com/EternalSunshine where right now it would look like http://www.bitcoinduit.com/game/viewRound.php?id=EternalSunshine.

In the end, all the features are experimental and functionality is subject to change.

Regards,
Jonathan

[btcrun]

I just played http://www.bitcoinduit.com/game/viewRound.php?id=ITS_OVER_9000 and got payed out very fast...it works like a charm

I took a look into your creating page...my suggestions:

- Jackpot like said before (the last submitting address wins the jackpot - it keeps the game running)
- maybe a explaining chart on the "create a new round" page, that keeps itself up to date if you change the values of a new game.
(like some imaginary example deposits to show the creator how his game might look so he can check the fees and outputs)

[payb.tc]

just curious, why do you call them flip games?

i thought a flip game would be something like doubletrouble.bitcoinbet.com

[Cory]

Earlier in the thread, you said:

Furthermore, if there are NO bets in 24 hours or how ever many hours are set by the Host, the full amount is refunded.

One of my rounds, http://www.bitcoinduit.com/game/viewRound.php?id=Zero_Host_Fee_Doubler , just expired without any other bids. However, I only received 90% of my investment back. It looks like a bug caused the house to keep the 10% fee.

PM me your receiving address and amount. I'll send it to ya.

Alright. You fix the bug?

Pretty sure! Gotta wait for the next round to end betless to find out.. I refunded you the B 0.2, which was the 10% deposit fee that not returned on the round expiring with no bets. I'm thinking in the future I should at least subtract the 0.0005 tx fee when that happens, but maybe not. Sometimes I have to pay tx fee, sometimes I don't. Either way, it's set to pay the minimum for tx.

Anyhow, if the bug isn't fixed yet we'll find out and dig in deeper to ensure smooth sailing.

Regards,
Jonathan

Looks like you fixed it! Nice job!

[Jonathan Ryan Owens]

I just played http://www.bitcoinduit.com/game/viewRound.php?id=ITS_OVER_9000 and got payed out very fast...it works like a charm

I took a look into your creating page...my suggestions:

- Jackpot like said before (the last submitting address wins the jackpot - it keeps the game running)
- maybe a explaining chart on the "create a new round" page, that keeps itself up to date if you change the values of a new game.
(like some imaginary example deposits to show the creator how his game might look so he can check the fees and outputs)

On #1, we're looking at that. I'm thinking that having a Jackpot is a good idea, but we need to get the existing code rock solid before adding any other features. The jackpot is in front of other features at the moment in terms of priority.

On #2, this could be done with javascript, but i'm not sure if we'd give it high priority over other features right now. I've made a mental note, and this is definitely a finishing touch.

Thanks for your suggestions. I'm also glad that you like the quick payout - it keeps games moving along pretty quick!

Regards,
Jonathan

[Jonathan Ryan Owens]

I designed an "alternate reality" home page for Bitcoinduit -- I thought I should share. I was amused while making it.

http://www.bitcoinduit.com/index1.html

[anodyne]

Great idea. Seems well built so far, so plenty of thumbs up. I missed the option to set a 5.12% fee for my game, though... 

[btcrun]

I designed an "alternate reality" home page for Bitcoinduit -- I thought I should share. I was amused while making it.

http://www.bitcoinduit.com/index1.html

Haha I love it

"look into a brighter future"
"get started - right now!"
"Take the opportunity"
"insert stupid slogan - People laughing"

[gerOZ]

intresting... let's try

[Jonathan Ryan Owens]

Great idea. Seems well built so far, so plenty of thumbs up. I missed the option to set a 5.12% fee for my game, though... 

Thanks for the thumbs up!

About the fees you forgot to add: start another game!



Regards,
Jonathan

[anodyne]

Great idea. Seems well built so far, so plenty of thumbs up. I missed the option to set a 5.12% fee for my game, though... 

Thanks for the thumbs up!

About the fees you forgot to add: start another game!



Regards,
Jonathan

I made an odd numbers round, and was musing about the fact that I only could use integers for the fee and that decimals would have made it possible to add even more odd numbers. Not a very important feature, I suppose.


Is it possible that a counter for remaining time is on the to-do list, though? Would make it easier for players to see how much time remains without having to count the hours since the last deposit and then subtract that from the extension time for the round.

[Jonathan Ryan Owens]

Great idea. Seems well built so far, so plenty of thumbs up. I missed the option to set a 5.12% fee for my game, though... 

Thanks for the thumbs up!

About the fees you forgot to add: start another game!



Regards,
Jonathan

I made an odd numbers round, and was musing about the fact that I only could use integers for the fee and that decimals would have made it possible to add even more odd numbers. Not a very important feature, I suppose.


Is it possible that a counter for remaining time is on the to-do list, though? Would make it easier for players to see how much time remains without having to count the hours since the last deposit and then subtract that from the extension time for the round.

Noted. We are keeping a features request list close at hand, and yours is an idea too good to pass up.

Regards,
Jonathan

[Jonathan Ryan Owens]

Stats for August 2:

Total paid dividends: 51.17098 BTC
Total host fee payouts: 1.855604 BTC
Total expired pot payouts: 0.806136 BTC
Total sent to users: 53.83272 BTC

[Dragonlord]

I have started 3 games on your site. 2 have already ended and 1 with a longer time limit is still going (http://bitcoinduit.com/game/viewRound.php?id=Dragonlord).
Your site has worked flawlessly for all of them.
I've made a small profit on all of the games, but they slow down fast and stop as there is very little incentive to keep the games going beyond the first few deposits.
Any news on when we will get the jackpot feature? That option would really help to keep the games going.

Thanks for the great site!

[Jonathan Ryan Owens]

I have started 3 games on your site. 2 have already ended and 1 with a longer time limit is still going (http://bitcoinduit.com/game/viewRound.php?id=Dragonlord).
Your site has worked flawlessly for all of them.
I've made a small profit on all of the games, but they slow down fast and stop as there is very little incentive to keep the games going beyond the first few deposits.
Any news on when we will get the jackpot feature? That option would really help to keep the games going.

Thanks for the great site!

So as I see it, a % of the remnant pot should go into the Jackpot. The Jackpot should be allowed to get rather large before payout - perhaps 3-5 Bitcoins?

I'd like to do it this way:

Rounds themselves should be recipients of Jackpots, where for instance 5 Bitcoin Jackpot is won and placed in a round, paying off the next in line. In fact, the "Jackpot" could always be sent, when triggered, to the lowest performing round.

How's that sound?

[Cory]

I have started 3 games on your site. 2 have already ended and 1 with a longer time limit is still going (http://bitcoinduit.com/game/viewRound.php?id=Dragonlord).
Your site has worked flawlessly for all of them.
I've made a small profit on all of the games, but they slow down fast and stop as there is very little incentive to keep the games going beyond the first few deposits.
Any news on when we will get the jackpot feature? That option would really help to keep the games going.

Thanks for the great site!

So as I see it, a % of the remnant pot should go into the Jackpot. The Jackpot should be allowed to get rather large before payout - perhaps 3-5 Bitcoins?

I'd like to do it this way:

Rounds themselves should be recipients of Jackpots, where for instance 5 Bitcoin Jackpot is won and placed in a round, paying off the next in line. In fact, the "Jackpot" could always be sent, when triggered, to the lowest performing round.

How's that sound?

That does sound pretty neat, but I don't see how it encourages specific rounds to continue, which I think it the most important thing to consider in this type of deal. I would prefer the jackpot described earlier in the thread:

I would like an option to choose a percentage that would go to a jackpot.

That's a great idea, Dragonlord.

How would this theoretical jackpot work?

It would be neat if the host could decide what percentage of the leftover pot(after house fees, if applicable) goes to the final bidder. That's how I interpreted his statement, anyway.

Ok, so instead of a 50/50 split, the Host could decide to dilute both the house and host fees? I'm ok with that - as long as the reduction is evenly split between the Host and the House.. We are partners, after all.

It would look like this:

As is 50/50 50% to the Host, 50% to the House.

Host decides to give 25% of the pot to the last player in, and the remainder 37.5/37.5 is split between the Host and the House.

Is this correct?

Regards,
Jonathan

[Dragonlord]

I have started 3 games on your site. 2 have already ended and 1 with a longer time limit is still going (http://bitcoinduit.com/game/viewRound.php?id=Dragonlord).
Your site has worked flawlessly for all of them.
I've made a small profit on all of the games, but they slow down fast and stop as there is very little incentive to keep the games going beyond the first few deposits.
Any news on when we will get the jackpot feature? That option would really help to keep the games going.

Thanks for the great site!

So as I see it, a % of the remnant pot should go into the Jackpot. The Jackpot should be allowed to get rather large before payout - perhaps 3-5 Bitcoins?

I'd like to do it this way:

Rounds themselves should be recipients of Jackpots, where for instance 5 Bitcoin Jackpot is won and placed in a round, paying off the next in line. In fact, the "Jackpot" could always be sent, when triggered, to the lowest performing round.

How's that sound?

This is the way I would like the jackpot to work:
Every game could have a jackpot. When the game is created, you could choose what percentages of every deposit that would go to fees, jackpot and payout.

For example:
5% fees (2% site fee + 3% host fee)
15% jackpot
80% payout pot

So 15% of every deposit gets added to the jackpot.
Whoever makes the last deposit before the game expires gets the jackpot.
The remainder payout pot would be split between the site and host like it is now.

Edit: I'm not sure I understand how your version a jackpot would work, but my version should be easy to implement.
It also would keep games separate. I don't think I would like to have part of my deposits going to other peoples games.

[iBitGuy]

This is the way I would like the jackpot to work:
Every game could have a jackpot. When the game is created, you could choose what percentages of every deposit that would go to fees, jackpot and payout.

For example:
5% fees (2% site fee + 3% host fee)
15% jackpot
80% payout pot

So 15% of every deposit gets added to the jackpot.
Whoever makes the last deposit before the game expires gets the jackpot.
The remainder payout pot would be split between the site and host like it is now.

Edit: I'm not sure I understand how your version a jackpot would work, but my version should be easy to implement.
It also would keep games separate. I don't think I would like to have part of my deposits going to other peoples games.

I agree with all of that ^^

[Jonathan Ryan Owens]

I have started 3 games on your site. 2 have already ended and 1 with a longer time limit is still going (http://bitcoinduit.com/game/viewRound.php?id=Dragonlord).
Your site has worked flawlessly for all of them.
I've made a small profit on all of the games, but they slow down fast and stop as there is very little incentive to keep the games going beyond the first few deposits.
Any news on when we will get the jackpot feature? That option would really help to keep the games going.

Thanks for the great site!

So as I see it, a % of the remnant pot should go into the Jackpot. The Jackpot should be allowed to get rather large before payout - perhaps 3-5 Bitcoins?

I'd like to do it this way:

Rounds themselves should be recipients of Jackpots, where for instance 5 Bitcoin Jackpot is won and placed in a round, paying off the next in line. In fact, the "Jackpot" could always be sent, when triggered, to the lowest performing round.

How's that sound?

This is the way I would like the jackpot to work:
Every game could have a jackpot. When the game is created, you could choose what percentages of every deposit that would go to fees, jackpot and payout.

For example:
5% fees (2% site fee + 3% host fee)
15% jackpot
80% payout pot

So 15% of every deposit gets added to the jackpot.
Whoever makes the last deposit before the game expires gets the jackpot.
The remainder payout pot would be split between the site and host like it is now.

Edit: I'm not sure I understand how your version a jackpot would work, but my version should be easy to implement.
It also would keep games separate. I don't think I would like to have part of my deposits going to other peoples games.

Jackpot is being added.

Regards,
Jonathan

[Jonathan Ryan Owens]

If anyone wants to know when the Jackpot feature has been added to rounds, get in touch with me via PM with your email address, and I'll let you know as soon as it's been implemented.

Bonus: the first 3 that start new Last Man In Jackpot rounds will have their deposit + ROI almost immediately, as I'll play those games and lock your earnings in immediately.

Regards,
Jonathan

[Dragonlord]

If anyone wants to know when the Jackpot feature has been added to rounds, get in touch with me via PM with your email address, and I'll let you know as soon as it's been implemented.

Bonus: the first 3 that start new Last Man In Jackpot rounds will have their deposit + ROI almost immediately, as I'll play those games and lock your earnings in immediately.

Regards,
Jonathan

PM sent. Can't wait to start a jackpot game 

[TeaRex]

Is there any place that actually explains what bitcoinduit is and how it works in principle? I couldn't find any. The "game rules" link on the site just links to the beginning of this thread but the thread opening post doesn't explain the rules at all, as far as I can see.

[Jonathan Ryan Owens]

Is there any place that actually explains what bitcoinduit is and how it works in principle? I couldn't find any. The "game rules" link on the site just links to the beginning of this thread but the thread opening post doesn't explain the rules at all, as far as I can see.

Good idea. Here, let's start writing it up. All game rule descriptions will be placed on the "rules" page and on the first post of this thread. I'll match 0.5 btc bets in each persons new rounds for their assistance in helping to describe the game.

Game Rules

Game Summary:

1. Game Terminology

2. Setup

3. Gameplay

4. Game End

5. Credits

[MasonIII]

Is there any place that actually explains what bitcoinduit is and how it works in principle? I couldn't find any. The "game rules" link on the site just links to the beginning of this thread but the thread opening post doesn't explain the rules at all, as far as I can see.

Good idea. Here, let's start writing it up. All game rule descriptions will be placed on the "rules" page and on the first post of this thread. I'll match 0.5 btc bets in each persons new rounds for their assistance in helping to describe the game.

Game Rules

Game Summary:

1. Game Terminology

2. Setup

• Click create new round at http://www.bitcoinduit.com/ (its at the bottom)
• Fill out all the fields (email is optional)
  -Round ID: Name of Game
  -Host address: Where the fee's received from the game are sent
  -ROI: Return on investment. The ROI + 100 is the expected payout amount. 20% ROI for a 1.0 BTC deposit will result in a 1.2BTC payout when pot reaches that amount.
  -Host Fee: % of each deposit that will be given to the host.  *Note that 2% will be added on top of the chosen fee to go towards the bitcoinduit site.
  -Minimum/Maximum Bet: The lower and upper limit of bets that can be placed.
  -Expires after: After how many hours of no one playing before the game will automatically end.
• After you click create, you must send the initial deposit to the shown address to officially start the game

3. Gameplay

• Click on the desired game
• Click play now-get new deposit address
• Enter the bitcoin address to which you want to be payed
• Click get deposit address
• Send your bet to the shown address
• Wait for your payout if the pot reaches the necessary amount
• Profit

4. Game End

• The game will end when no bets have been placed for the designated number of hours
• 50% of the remaining pot will go to the host, 50% will go to betcoinduit.com

5. Credits

• Game created by pigki https://bitcointalk.org/index.php?action=profile;u=22299
• Game Rules written by MasonIII

[Jonathan Ryan Owens]

Is there any place that actually explains what bitcoinduit is and how it works in principle? I couldn't find any. The "game rules" link on the site just links to the beginning of this thread but the thread opening post doesn't explain the rules at all, as far as I can see.

Good idea. Here, let's start writing it up. All game rule descriptions will be placed on the "rules" page and on the first post of this thread. I'll match 0.5 btc bets in each persons new rounds for their assistance in helping to describe the game.

Game Rules

Game Summary:

1. Game Terminology

2. Setup

• Click create new round at http://www.bitcoinduit.com/ (its at the bottom)
• Fill out all the fields (email is optional)
  -Round ID: Name of Game
  -Host address: Where the fee's received from the game are sent
  -ROI: Return on investment. The ROI + 100 is the expected payout amount. 20% ROI for a 1.0 BTC deposit will result in a 1.2BTC payout when pot reaches that amount.
  -Host Fee: % of each deposit that will be given to the host.  *Note that 2% will be added on top of the chosen fee to go towards the bitcoinduit site.
  -Minimum/Maximum Bet: The lower and upper limit of bets that can be placed.
  -Expires after: After how many hours of no one playing before the game will automatically end.
• After you click create, you must send the initial deposit to the shown address to officially start the game

3. Gameplay

• Click on the desired game
• Click play now-get new deposit address
• Enter the bitcoin address to which you want to be payed
• Click get deposit address
• Send your bet to the shown address
• Wait for your payout if the pot reaches the necessary amount
• Profit

4. Game End

• The game will end when no bets have been placed for the designated number of hours
• 50% of the remaining pot will go to the host, 50% will go to betcoinduit.com

5. Credits

• Game created by pigki https://bitcointalk.org/index.php?action=profile;u=22299
• Game Rules written by MasonIII

Thanks! Where can I send my matching bet?

Regards,
Jonathan

[MasonIII]

Can I keep that matching .5 on hold?  Waiting for last man in jackpot to roll out before I start one.

[Jonathan Ryan Owens]

Can I keep that matching .5 on hold?  Waiting for last man in jackpot to roll out before I start one.

Sure thing.

Regards,
Jonathan

[iBitGuy]

Hey are there any issues with the auto payout right now because I have a few sitting at 0/unconfirmed for a few hours now...just wondering because that doesn't usually ever happen. Thanks!

[geek-trader]

Hey are there any issues with the auto payout right now because I have a few sitting at 0/unconfirmed for a few hours now...just wondering because that doesn't usually ever happen. Thanks!

I have 1 that way, also.

"Big_Money" #2

[geek-trader]

Hey are there any issues with the auto payout right now because I have a few sitting at 0/unconfirmed for a few hours now...just wondering because that doesn't usually ever happen. Thanks!

I have 1 that way, also.

"Big_Money" #2

I have 1 confirm now.  Took 2.5 hours, but It's there now

[iBitGuy]

ok mine are all showing one confirm now too. They took a very long time though

[Jonathan Ryan Owens]

[EDIT]

I hope I didn't freak anyone out. I was on my phone and saw what you guys said, and thought that bets hadn't been placed in rounds. Once I got home I just realized that you were talking about the bitcoin network! Oops! I hope I didn't freak anyone out! It was the first time I'd been away from the computer for more than 2 hours in the past 72 hours, so I figured that something had broken (always the pessimist) and when I checked and saw what seemed to be a problem with the application, I immediate started driving home to get it fixed.

Anyways, there was apparently no problem.

Regards,
Jonathan

______________________________
We are looking into it right now. Don't worry, you'll get paid back asap once I'm home and can audit transactions. We are only 3 days old, after all. Crazy growth!

Sit tight! Your funds are safe!

Regards,
Jonathan

[MasonIII]

Can I keep that matching .5 on hold?  Waiting for last man in jackpot to roll out before I start one.

Sure thing.

Regards,
Jonathan

Just to say thanks to jonathan for his matching .5.  Great site, and very good response to questions.  My game is at http://www.bitcoinduit.com/game/viewRound.php?id=GoodOld_DoubleTrouble and while waiting for an officially supported jackpot feature, I am manually doing one that is 6.4% of all deposits.

[Jonathan Ryan Owens]

Can I keep that matching .5 on hold?  Waiting for last man in jackpot to roll out before I start one.

Sure thing.

Regards,
Jonathan

Just to say thanks to jonathan for his matching .5.  Great site, and very good response to questions.  My game is at http://www.bitcoinduit.com/game/viewRound.php?id=GoodOld_DoubleTrouble and while waiting for an officially supported jackpot feature, I am manually doing one that is 6.4% of all deposits.

Just sent 0.5 to your round!

Regards,
Jonathan

[TeaRex]

2. Setup

• Click create new round at http://www.bitcoinduit.com/ (its at the bottom)
• Fill out all the fields (email is optional)
  -Round ID: Name of Game
  -Host address: Where the fee's received from the game are sent
  -ROI: Return on investment. The ROI + 100 is the expected payout amount. 20% ROI for a 1.0 BTC deposit will result in a 1.2BTC payout when pot reaches that amount.
  -Host Fee: % of each deposit that will be given to the host.  *Note that 2% will be added on top of the chosen fee to go towards the bitcoinduit site.
  -Minimum/Maximum Bet: The lower and upper limit of bets that can be placed.
  -Expires after: After how many hours of no one playing before the game will automatically end.
• After you click create, you must send the initial deposit to the shown address to officially start the game

3. Gameplay

• Click on the desired game
• Click play now-get new deposit address
• Enter the bitcoin address to which you want to be payed
• Click get deposit address
• Send your bet to the shown address
• Wait for your payout if the pot reaches the necessary amount
• Profit

4. Game End

• The game will end when no bets have been placed for the designated number of hours
• 50% of the remaining pot will go to the host, 50% will go to betcoinduit.com

5. Credits

• Game created by pigki https://bitcointalk.org/index.php?action=profile;u=22299
• Game Rules written by MasonIII

Thanks for that, nice to have some how-to stuff, but I have to admit - I'm still not getting the basic idea. So the game operator is betting against the participants that they won't reach some total amount? Or what?

[Jonathan Ryan Owens]

2. Setup

• Click create new round at http://www.bitcoinduit.com/ (its at the bottom)
• Fill out all the fields (email is optional)
  -Round ID: Name of Game
  -Host address: Where the fee's received from the game are sent
  -ROI: Return on investment. The ROI + 100 is the expected payout amount. 20% ROI for a 1.0 BTC deposit will result in a 1.2BTC payout when pot reaches that amount.
  -Host Fee: % of each deposit that will be given to the host.  *Note that 2% will be added on top of the chosen fee to go towards the bitcoinduit site.
  -Minimum/Maximum Bet: The lower and upper limit of bets that can be placed.
  -Expires after: After how many hours of no one playing before the game will automatically end.
• After you click create, you must send the initial deposit to the shown address to officially start the game

3. Gameplay

• Click on the desired game
• Click play now-get new deposit address
• Enter the bitcoin address to which you want to be payed
• Click get deposit address
• Send your bet to the shown address
• Wait for your payout if the pot reaches the necessary amount
• Profit

4. Game End

• The game will end when no bets have been placed for the designated number of hours
• 50% of the remaining pot will go to the host, 50% will go to betcoinduit.com

5. Credits

• Game created by pigki https://bitcointalk.org/index.php?action=profile;u=22299
• Game Rules written by MasonIII

Thanks for that, nice to have some how-to stuff, but I have to admit - I'm still not getting the basic idea. So the game operator is betting against the participants that they won't reach some total amount? Or what?

http://en.wikipedia.org/wiki/Charles_Ponzi

It's a risk/reward game, where depending on the particular game rules and level of active betting in a round, you have a chance to win up to the % ROI listed in each game. Each person is paid out, in pyramid like fashion, and ultimately the rounds end with people going unpaid. Some people suffer so that others may win.

Sound familiar?

Think: Rational Ponzi Schemes such as US Debt and the International Monetary Fund.

They're a bit bigger than Bitcoinduit, but not for long!

[Jonathan Ryan Owens]

BUMP! Jackpots Now Available For Hosted Games!

Regards,
Jonathan

[John (John K.)]

Got myself in the first jackpot game 

[Jonathan Ryan Owens]

Got myself in the first jackpot game 

Thanks for playing in my game! 0.1 Donated!

Regards,
Jonathan

[MasonIII]

Game Summary:

1. Game Terminology

• Ponzi Scheme: A game where the later entrants pay out the earlier entrants
  -Named for Charles Ponzi http://en.wikipedia.org/wiki/Charles_Ponzi
• Jackpot: A feature where a % of each deposit is taken out and placed into a jackpot

2. Setup

• Click create new round at http://www.bitcoinduit.com/ (its at the bottom)
• Fill out all the fields (email is optional)
  -Round ID: Name of Game
  -Host address: Where the fee's received from the game are sent
  -ROI: Return on investment. The ROI + 100 is the expected payout amount. 20% ROI for a 1.0 BTC deposit will result in a 1.2BTC payout when pot reaches that amount.
  -Host Fee: % of each deposit that will be given to the host.  *Note that 2% will be added on top of the chosen fee to go towards the bitcoinduit site.
  -Jackpot: The % of each deposit that will be taken out of the pot and placed into a separate jackpot
  -Minimum/Maximum Bet: The lower and upper limit of bets that can be placed.
  -Expires after: After how many hours of no one playing before the game will automatically end.
• After you click create, you must send the initial deposit to the shown address to officially start the game

3. Gameplay

• Click on the desired game
• Click play now-get new deposit address
• Enter the bitcoin address to which you want to be payed
• Click get deposit address
• Send your bet to the shown address
• Wait for your payout if the pot reaches the necessary amount
• Profit
• If the game utilizes the jackpot feature, you may want to aim to be the last bet in order to win the jackpot

4. Game End

• The game will end when no bets have been placed for the designated number of hours
• 50% of the remaining pot will go to the host, 50% will go to betcoinduit.com
• If the round has a jackpot, then it will be payed out to the last bet's address

5. Credits

• Game created by pigki https://bitcointalk.org/index.php?action=profile;u=22299
• Game Rules written by MasonIII

I updated the rules and games terminology for you pigki, it now includes the jackpot feature you just created.  On the other hand, while typing this, I see that the 3 "first" jackpot rounds for your bonus offer have already been created and you (or someone else) has already paid one out.  It seems as if your site is getting popular, I congratulate you on your great site

[Cory]

Hey, fantastic!

The front page should round the pot total to three decimals. Right now it looks ugly. The actual round page should be as accurate as possible, though.
The jackpot percentage should also be listed on the front page for each round.

[John (John K.)]

Thanks for the donate  . Got my payout too 

[Jonathan Ryan Owens]

Game Summary:

1. Game Terminology

• Ponzi Scheme: A game where the later entrants pay out the earlier entrants
  -Named for Charles Ponzi http://en.wikipedia.org/wiki/Charles_Ponzi
• Jackpot: A feature where a % of each deposit is taken out and placed into a jackpot

2. Setup

• Click create new round at http://www.bitcoinduit.com/ (its at the bottom)
• Fill out all the fields (email is optional)
  -Round ID: Name of Game
  -Host address: Where the fee's received from the game are sent
  -ROI: Return on investment. The ROI + 100 is the expected payout amount. 20% ROI for a 1.0 BTC deposit will result in a 1.2BTC payout when pot reaches that amount.
  -Host Fee: % of each deposit that will be given to the host.  *Note that 2% will be added on top of the chosen fee to go towards the bitcoinduit site.
  -Jackpot: The % of each deposit that will be taken out of the pot and placed into a separate jackpot
  -Minimum/Maximum Bet: The lower and upper limit of bets that can be placed.
  -Expires after: After how many hours of no one playing before the game will automatically end.
• After you click create, you must send the initial deposit to the shown address to officially start the game

3. Gameplay

• Click on the desired game
• Click play now-get new deposit address
• Enter the bitcoin address to which you want to be payed
• Click get deposit address
• Send your bet to the shown address
• Wait for your payout if the pot reaches the necessary amount
• Profit
• If the game utilizes the jackpot feature, you may want to aim to be the last bet in order to win the jackpot

4. Game End

• The game will end when no bets have been placed for the designated number of hours
• 50% of the remaining pot will go to the host, 50% will go to betcoinduit.com
• If the round has a jackpot, then it will be payed out to the last bet's address

5. Credits

• Game created by pigki https://bitcointalk.org/index.php?action=profile;u=22299
• Game Rules written by MasonIII

I updated the rules and games terminology for you pigki, it now includes the jackpot feature you just created.  On the other hand, while typing this, I see that the 3 "first" jackpot rounds for your bonus offer have already been created and you (or someone else) has already paid one out.  It seems as if your site is getting popular, I congratulate you on your great site

Thanks Mason! Updated!

[Dragonlord]

If anyone wants to know when the Jackpot feature has been added to rounds, get in touch with me via PM with your email address, and I'll let you know as soon as it's been implemented.

Bonus: the first 3 that start new Last Man In Jackpot rounds will have their deposit + ROI almost immediately, as I'll play those games and lock your earnings in immediately.

Regards,
Jonathan

PM sent. Can't wait to start a jackpot game  

What happened to your promise that you would send an email as soon as the jackpot feature was implemented? I never got any email!
And because the jackpot feature became available in the middle of the night for me, I missed the chance to be the first to start a jackpot game.  

[Jonathan Ryan Owens]

If anyone wants to know when the Jackpot feature has been added to rounds, get in touch with me via PM with your email address, and I'll let you know as soon as it's been implemented.

Bonus: the first 3 that start new Last Man In Jackpot rounds will have their deposit + ROI almost immediately, as I'll play those games and lock your earnings in immediately.

Regards,
Jonathan

PM sent. Can't wait to start a jackpot game  

What happened to your promise that you would send an email as soon as the jackpot feature was implemented? I never got any email!
And because the jackpot feature became available in the middle of the night for me, I missed the chance to be the first to start a jackpot game.  

We'll make it up to you somehow.

Regards,
Jonathan

[Dragonlord]

If anyone wants to know when the Jackpot feature has been added to rounds, get in touch with me via PM with your email address, and I'll let you know as soon as it's been implemented.

Bonus: the first 3 that start new Last Man In Jackpot rounds will have their deposit + ROI almost immediately, as I'll play those games and lock your earnings in immediately.

Regards,
Jonathan

PM sent. Can't wait to start a jackpot game  

What happened to your promise that you would send an email as soon as the jackpot feature was implemented? I never got any email!
And because the jackpot feature became available in the middle of the night for me, I missed the chance to be the first to start a jackpot game.  

We'll make it up to you somehow.

Regards,
Jonathan

Ok....

Do you still give a full refund on games that expire without any players?
It used to say so on the front page, but now I can't find any mention of a refund anywhere on the front page or in the rules.

[Cory]

What happens if you send more or less than the max/min bet? I may have accidentally done that. xD

[Jonathan Ryan Owens]

What happens if you send more or less than the max/min bet? I may have accidentally done that. xD

Under bets disappear forever, and overbets are counted for the maximum allowable bet, with the overage amount disappearing into the void of the eternally dark ether.

Still, I'm a nice guy. How much did you lose this time? Be honest, I'm too busy to audit at the moment.

Regards,
Jonathan

[Jonathan Ryan Owens]

If anyone wants to know when the Jackpot feature has been added to rounds, get in touch with me via PM with your email address, and I'll let you know as soon as it's been implemented.

Bonus: the first 3 that start new Last Man In Jackpot rounds will have their deposit + ROI almost immediately, as I'll play those games and lock your earnings in immediately.

Regards,
Jonathan

PM sent. Can't wait to start a jackpot game  

What happened to your promise that you would send an email as soon as the jackpot feature was implemented? I never got any email!
And because the jackpot feature became available in the middle of the night for me, I missed the chance to be the first to start a jackpot game.  

We'll make it up to you somehow.

Regards,
Jonathan

Ok....

Do you still give a full refund on games that expire without any players?
It used to say so on the front page, but now I can't find any mention of a refund anywhere on the front page or in the rules.

We do still give 100% refunds on no bet rounds, but we decided against advertising it because it seemed early on to result in punitive small bets, with 2 bet rounds expiring without host payout. It's called griefing, trolling and what have you.

So though we honor the 100% in our code, we don't feel particularly inclined to advertise that fact, mostly for those hosts safety who would expose themselves to griefing from others, looking to pot commit them.

Make sense?

Regards,
Jonathan

[Dragonlord]

pigki, It looks like there is a bug with your address validation check.

It tells me that all of the following addresses are invalid:

12Fz925or3w2s67BTL2sJEVHDaNmqCM1gD
1LWHUuf7fyJgJg81EkM11wj6aa1BZEwE3
1V4hDzv3NkdjsqhAgCYtuuNZnTUBHZe6c
12HucuVtua253tvGUvMTCtjDBinvMAmBmU

128vvfUGzfh7bHeVV3NattmUzn4hXmAuTf
1y4mk9BBtkRtU8sYKHm3zgew4iYuWCQKH
1QKvnPnrF41wd9zr31rQfG1GNv3t9SXx5
12CzKMorC4qNprvgUfQzXyPsWL19t28Vwp

The first 4 are known good addresses that have been used previously and show in blockexplorer.
The other ones are new addresses generated with my bitcoin client.

[Jonathan Ryan Owens]

pigki, It looks like there is a bug with your address validation check.

It tells me that all of the following addresses are invalid:

12Fz925or3w2s67BTL2sJEVHDaNmqCM1gD
1LWHUuf7fyJgJg81EkM11wj6aa1BZEwE3
1V4hDzv3NkdjsqhAgCYtuuNZnTUBHZe6c
12HucuVtua253tvGUvMTCtjDBinvMAmBmU

128vvfUGzfh7bHeVV3NattmUzn4hXmAuTf
1y4mk9BBtkRtU8sYKHm3zgew4iYuWCQKH
1QKvnPnrF41wd9zr31rQfG1GNv3t9SXx5
12CzKMorC4qNprvgUfQzXyPsWL19t28Vwp

The first 4 are known good addresses that have been used previously and show in blockexplorer.
The other ones are new addresses generated with my bitcoin client.

There is definitely a bug. We figured leaving our knowledge of it undocumented would be a very effective way of saying "we're in beta, so just make a new receiving address, mmk?"

Still, I'm sure we'll get to it soon. In the meantime, we're preoccupied with other tasks.

Regards,
Jonathan

[Dragonlord]

pigki, It looks like there is a bug with your address validation check.

It tells me that all of the following addresses are invalid:

12Fz925or3w2s67BTL2sJEVHDaNmqCM1gD
1LWHUuf7fyJgJg81EkM11wj6aa1BZEwE3
1V4hDzv3NkdjsqhAgCYtuuNZnTUBHZe6c
12HucuVtua253tvGUvMTCtjDBinvMAmBmU

128vvfUGzfh7bHeVV3NattmUzn4hXmAuTf
1y4mk9BBtkRtU8sYKHm3zgew4iYuWCQKH
1QKvnPnrF41wd9zr31rQfG1GNv3t9SXx5
12CzKMorC4qNprvgUfQzXyPsWL19t28Vwp

The first 4 are known good addresses that have been used previously and show in blockexplorer.
The other ones are new addresses generated with my bitcoin client.

There is definitely a bug. We figured leaving our knowledge of it undocumented would be a very effective way of saying "we're in beta, so just make a new receiving address, mmk?"

Still, I'm sure we'll get to it soon. In the meantime, we're preoccupied with other tasks.

Regards,
Jonathan

Ok, sorry to bother you.

[Cory]

Hey! My exponential round ended! That was fast!

I'm glad to be a part of Bitcoinduit history.

[Jonathan Ryan Owens]

Hey! My exponential round ended! That was fast!

I'm glad to be a part of Bitcoinduit history.

We're about to roll out some interesting live statistics for Jackpot rounds. We're also going to rename "Jackpots" to "Bounties" where the same 0 - 15% Jackpot fee will exist, and the option will be renamed to "Bounty." Hosts will now be able to Deposit additional Bitcoin to separately fund a Jackpot. Let's take a look at how this will look in a game round:

Here, the host has selected 25% ROI, a Bounty fee of 15%, 0% host fees (2% to house), min/max of 0.5 to 3 BTC, with expiration of 4 hours. When this round was started, the host made a 4.5 BTC deposit to start the round - 0.5 deposit, and 4 BTC "Bounty".

ROI: 25%
Bounty: 4 BTC
Bounty Fees: 15%
Fees: 2.0%
Minimum Deposit: 0.5000 BTC
Maximum Deposit: 3.0000 BTC
Confirmations Required: 0
Expiration: 4 hours of inactivity

Deposit Total: 0.5000 BTC
Payout Total: 0.0000
Fees Total: 0.0000
Pot: 0.4425
Jackpot: 4.075

Get the idea?

Get it?

Regards,
Jonathan

[Cory]

Hm, not really. D:

So there's going to be both a bounty AND a jackpot? Wouldn't it make more sense to just have the bounty, since they both do the same thing(reward the last bidder)?

Will the host be able to contribute to the bounty at times other than the very beginning of the round?

[Jonathan Ryan Owens]

Hm, not really. D:

So there's going to be both a bounty AND a jackpot? Wouldn't it make more sense to just have the bounty, since they both do the same thing(reward the last bidder)?

Will the host be able to contribute to the bounty at times other than the very beginning of the round?

1. Jackpot will disappear. Bounty will be replacing it, with the rules i set forth above. The host can deposit a Bounty amount, and set a bounty entry fee, which is currently called Jackpot fee, but that's going to change in the next version.

2. I like the idea. The only logical way to approach that though, considering that this is really built to be played using the bitcoin addresses as IDs, is to use a bit of logic to poll the initial receiving address that you're given to deposit funds to, which triggers the start of the game, and if additional deposits come in on that address later in the round, those deposits will be added to the "Bounty" fund. In fact, we would publish the address as part of the round, so that anyone who wanted to could contribute to the Jackpot, and so that you'd never forget the Deposit address if you wanted to increase the jackpot. Yes that's the way to do it.

[Cory]

Ah, so in your example "jackpot" would be replaced with "bounty"? I think that's what confused me. I've got it now.

Making a public bounty address is a fantastic idea!

[Jonathan Ryan Owens]

Ah, so in your example "jackpot" would be replaced with "bounty"? I think that's what confused me. I've got it now.

Making a public bounty address is a fantastic idea!

Not only is it a good idea, but we could go one step deeper and start directing the houses expired pots to the deposit address of the highest value of bounty total / total obligations of all rounds, where the round that has the best ROI receives the expired pots.

Get it?

[Jonathan Ryan Owens]

I'm actually ready to do a whole new game, and we're looking for game requests. If you can think it, we can do it. If your idea is cool, we'll cut you in on the millions we'll make.

Regards,
Jonathan

[Jonathan Ryan Owens]

FYI. Coming feature...

https://bitcointalk.org/index.php?topic=25804.msg442663#msg442663

[Jonathan Ryan Owens]

฿360 in deposits in one week!

Regards,
Jonathan

[codler]

Change "Tack for att spela, Sverige!" to "Tack för att du spela, Sverige!"

[Jonathan Ryan Owens]

Total deposits: ฿ 812.24754181
Total live pots: ฿ 7.8266426022
Total live jackpots: ฿ 8.4221849995
Total paid dividends: ฿ 673.3794249505
Total host fee payouts: ฿ 13.6463976869
Total expired pot payouts: ฿ 33.01829661825
Total jackpots paid: ฿ 23.946766999
Total sent to users: ฿ 743.99088625465
Total nonrefundable house fees: ฿ 2.3992244
Total expired pot collected: ฿ 33.01829661825
Total house profit: ฿ 35.41752101825
Total refundable house fees pending new deposits: ฿ 0.206
Surplus: ฿ 16.3843069354