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Author Topic: Thoughts on Ponzi and Bitcoinduit  (Read 802 times)
geek-trader
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August 14, 2011, 04:21:42 AM
 #1

You all know I love a good ponzi.  I'm a ponzi addict.  Bitcoinduit has their ponzi site where anyone can make a ponzi game.  It rocks.  They did a really good job with it.  It turns out it rocks TOO MUCH.

Ponzi used to be a sure winner, and long as you got in early.  These days, because of Bitcoinduit's awesome site, there are a million games to choose from.  Now, many, or even most, of these games die out after only 3 or 4 bets.  Some die after 2 bets.

My point: choose your ponzi carefully.  There's no need to put up with high fees (or any fees) when there are so many games to choose from. 

I think ponzi can still be a profitable pursuit, but it's not the sure fire thing it used to be.  Now, we need to look for extra bonuses, like guaranteed matching, or fees paid back to bettors. The game that goes above and beyond to get bettors is the one we want to enter.

Be wary.  Be informed gamblers.  And good luck to you.

Make 1 deposit and earn BTC for life! http://bitcoinpyramid.com/r/345
Play my FREE HTML5 games at: http://magigames.org  BTC donations accepted.
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Jonathan Ryan Owens
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August 14, 2011, 06:06:35 PM
 #2

U MAD?

http://i.imgur.com/YgvXm.jpg

I'm glad that so many of you have embraced my game, but I have to agree with geek-trader about fees. There was a decision to leave the game pretty wide open so that hosts could have a lot of control on fee schedules, and I've seen traffic increase at a predictable rate since we launched. If you want people to play in your Bitcoinduit game, you'll need to be fair on fees, and it's a good idea to market your game to your friends, otherwise you'll very likely be part of the noise rather than the chosen signal.

Thanks for the props on Bitcoinduit. I came up with the site idea after seeing all the shady but still successful spreadsheet games, and I figured that if I could come up with an automation solution, that those hosts would likely ditch their string and duct tape to host games using automation that would let them sleep sometimes without being accused of not paying out, or not paying out fast enough. Once that was decided, it was further decided that with some controls, we could also do immediate payouts without any confirmations, which definitely adds to the game speed. We made sure to calculate total liabilities for the wallet that powers bitcoinduit, and we keep it only as full as it needs to be for coming payouts. We did this to ensure that if there was a double spend, that the losses would be insignificant, and after two weeks we still have yet to see a double spend.

So to summarize: Bitcoinduit can be an awesome way to host your games if you don't charge high fees and you have friends or the ability to market your games.

Regards,
Jonathan

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August 14, 2011, 10:46:35 PM
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Even with zero fees and guaranteed re-investment, they still die out in less than 10 entries.  What can we do to keep a game going?  Is the pool of players just smaller than I think?

example:  https://bitcointalk.org/index.php?topic=37112.0

Make 1 deposit and earn BTC for life! http://bitcoinpyramid.com/r/345
Play my FREE HTML5 games at: http://magigames.org  BTC donations accepted.
Jonathan Ryan Owens
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August 14, 2011, 11:00:54 PM
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Even with zero fees and guaranteed re-investment, they still die out in less than 10 entries.  What can we do to keep a game going?  Is the pool of players just smaller than I think?

example:  https://bitcointalk.org/index.php?topic=37112.0

Put a banner ad together, find some sites willing to take BTC in exchange for banner ads on their site, and get me the info. That's how.

edd
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August 14, 2011, 11:16:21 PM
 #5

Even with zero fees and guaranteed re-investment, they still die out in less than 10 entries.  What can we do to keep a game going?  Is the pool of players just smaller than I think?

example:  https://bitcointalk.org/index.php?topic=37112.0

Put a banner ad together, find some sites willing to take BTC in exchange for banner ads on their site, and get me the info. That's how.

http://www.thebitcoinlist.com/advertising/

Just send me the banner and .05 BTC.

Still around.
Jonathan Ryan Owens
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August 14, 2011, 11:22:50 PM
 #6

Even with zero fees and guaranteed re-investment, they still die out in less than 10 entries.  What can we do to keep a game going?  Is the pool of players just smaller than I think?

example:  https://bitcointalk.org/index.php?topic=37112.0

Put a banner ad together, find some sites willing to take BTC in exchange for banner ads on their site, and get me the info. That's how.

http://www.thebitcoinlist.com/advertising/

Just send me the banner and .05 BTC.

You make the banner, and I'll send you 0.5 for the banner there, and 0.5 for your 'hard' work making the banner.

Regards,
Jonathan

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August 14, 2011, 11:26:09 PM
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Okay, but give me some time. I'm at work, viewing this from my phone.

Still around.
geek-trader
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August 14, 2011, 11:27:33 PM
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You make the banner, and I'll send you 0.5 for the banner there, and 0.5 for your 'hard' work making the banner.

Regards,
Jonathan

Be sure to use Bernie Madoff in it.   Grin

Make 1 deposit and earn BTC for life! http://bitcoinpyramid.com/r/345
Play my FREE HTML5 games at: http://magigames.org  BTC donations accepted.
Jonathan Ryan Owens
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August 14, 2011, 11:30:00 PM
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You make the banner, and I'll send you 0.5 for the banner there, and 0.5 for your 'hard' work making the banner.

Regards,
Jonathan

Be sure to use Bernie Madoff in it.   Grin

BUMP!

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