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Author Topic: Question?  (Read 809 times)
-FaerO-
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August 10, 2011, 12:15:09 PM
 #1

Im wondering how the bitcoinduit really works. Ive entered a couple btc into a few different ones. In one of them I entered 1.00BTC & have received 1.40 in return. But on all the others nothing. What determines how long it takes for a payout? I entered all of them today so Im not sweating Im just curious to know why I would receive payment on one of them so quickly & not the others when I put the same amount in.

-FaerO-

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Yuusha
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August 10, 2011, 12:23:15 PM
 #2

You get paid out when all the people before you have been paid, and when there is enough money in the pot to pay you.

For example:

Person 1 deposits 1 BTC (return 1.40) Money in pot: 1 BTC
Person 2 deposits 1 BTC (return 1.40) Money in pot: 2 BTC - Person 1 gets paid out, reducing the money in the pot to 0.6
Person 3 deposits 0.5 BTC (return 0.7) Money in pot: 1.1 BTC
Person 4 deposits 1 BTC (return 1.40) Money in pot: 2.1 - Person 2 gets paid out, reducing the money in the pot to 0.7

And so on. There's no guarantee you will be paid.
-FaerO-
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August 10, 2011, 01:19:48 PM
 #3

You get paid out when all the people before you have been paid, and when there is enough money in the pot to pay you.

For example:

Person 1 deposits 1 BTC (return 1.40) Money in pot: 1 BTC
Person 2 deposits 1 BTC (return 1.40) Money in pot: 2 BTC - Person 1 gets paid out, reducing the money in the pot to 0.6
Person 3 deposits 0.5 BTC (return 0.7) Money in pot: 1.1 BTC
Person 4 deposits 1 BTC (return 1.40) Money in pot: 2.1 - Person 2 gets paid out, reducing the money in the pot to 0.7

And so on. There's no guarantee you will be paid.

Thank you kindly for your example sir. You have solved all of my quandaries. Give me an address and I will donate half a bitcoin to your cause Smiley

FaerO

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Yuusha
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August 10, 2011, 01:24:40 PM
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No problem, happy to help.

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Thank you for your generosity.
-FaerO-
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August 10, 2011, 01:39:50 PM
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0.5BTC enroute to your location Smiley

-FaerO-

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cronopio
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August 10, 2011, 03:05:48 PM
 #6

For example. I send some coins (less 1 btc) and the round close by inactivity and I lose my money. No guarantee

Cry

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