Bets of Bitcoin - Bitcoin betting on real world events

[Stephen Gornick]

It looks like the Reference market was active on Dec 31st (until 17:14) and the event date was Dec. 31, 2012 end of day Eastern Time. Was it known?

http://betsofbitco.in/item?id=503

I see.  Since the bet deadline is always at least one day prior to the event date, there was no reason to change it because the event date did not change -- the reference market was trading on December 31st.   So it doesn't seem justified for the deadline to have changed in this instance.

[OpenYourEyes]

Damn. I've lost my login credentials for the site, I didn't sign up with any thing memorable as I was only testing the site out, but I ended up placing a bet.
Is there any way to recover them?
I placed a small 0.1BTC bet, I know it is only small, but that's pretty much all I own  

[Spaceman_Spiff]

I just wanted to report that somebody bet on  http://betsofbitco.in/item?id=1052  after the event happened. (I wuz on time  )

[crazy573]

I just wanted to report that somebody bet on  http://betsofbitco.in/item?id=1052  after the event happened. (I wuz on time  )

You made your bet yesterday?

[Spaceman_Spiff]

I just wanted to report that somebody bet on  http://betsofbitco.in/item?id=1052  after the event happened. (I wuz on time   )

You made your bet yesterday?

Oh, does it work with 1-day cut-offs?  I did not know that (if so, which geographical location is used to determine this?).  No, I bet today, but prior to the 15.38 being breached.

[crazy573]

Oh, does it work with 1-day cut-offs?  I did not know that (if so, which geographical location is used to determine this?).  No, I bet today, but prior to the 15.38 being breached.

Here are some answers for you 

If the statement turns out to be true or false before the deadline, bet deadline is changed to the end of previous day and bets are closed.

Eastern Time

[Mr. Coinman]

Would it be possible to have an archive of closed bets on the site, for "historical" purposes? It might be interesting to look back at the bets of our past.

[Stephen Gornick]

Would it be possible to have an archive of closed bets on the site, for "historical" purposes? It might be interesting to look back at the bets of our past.

These are available through the site's UI already:

All closed bets, sorted by bet totals:
 - http://betsofbitco.in/list?status=closed&category=All&sorting=-totalBets

Click on the other selections to change the sort method.



To see only your closed bets:
 - http://betsofbitco.in/profile

Then scroll down to
 Your Bets
then click on
 Your closed bets

[Spaceman_Spiff]

Oh, does it work with 1-day cut-offs?  I did not know that (if so, which geographical location is used to determine this?).  No, I bet today, but prior to the 15.38 being breached.

Here are some answers for you 

If the statement turns out to be true or false before the deadline, bet deadline is changed to the end of previous day and bets are closed.

Eastern Time

tx for the answers, I should read more attentively next time 

[elux]

AAPL (Apple Inc) on NASDAQ will have a closing share price above $500.00 USD on 1 February 2013.

Opening date: Jan. 15, 2013
Bet deadline: Jan. 30, 2013 end of day Eastern Time
Event date: Feb. 1, 2013 end of day Eastern Time

Category: Economics
Total agree bets: 53.01
Total disagree bets: 346.43

Close and settle the bet, plz.

[Spaceman_Spiff]

Could you close this one too?

http://betsofbitco.in/item?id=1048

[dacoinminster]

I think this one should have been closed out several days ago:

http://betsofbitco.in/item?id=1171

"MTGOX BTC will touch $25.99 before $14.99"

[Stephen Gornick]

I'm curious about this one.  It was a poorly written bet statement at best, or deceptively written to get people to bet on the losing side.

Fugitive Ex-LAPD Officer Chris Dorner Will Be Apprehended by Law Enforcement by end of day 2/28 EST
At-large fugitive Christopher Dorner will be apprehended by law enforcement by February 28, 11:59pm EST.
 - http://betsofbitco.in/item?id=1215

The timeline shows that he was cornered in the cabin that was set fire on Feb 12th.  His body was positively identified on Feb 14th.

He (living Chris Dorner) was never apprehended, so I think False would be the outcome, though I'm not entirely certain.  He died without being apprehended so I'm pretty sure True would be the wrong outcome.  Maybe a wash (and refund of all bets?) 

If it is decided as False, I wonder what date was the event date.   The 12th?  ... thus only bets made on Feb 11th (the date the bet statement was placed) are valid, with all others getting returned?

[Stephen Gornick]

Coinjedi, are you on it?

It's not just you! http://betsofbitco.in looks down from here.

- http://www.downforeveryoneorjustme.com/betsofbitco.in

[Stephen Gornick]

Coinjedi, are you on it?

It's not just you! http://betsofbitco.in looks down from here.

- http://www.downforeveryoneorjustme.com/betsofbitco.in

Oh, I didn't notice this first:

Server is down for maintenance. We'll be back in a couple of hours.

- https://twitter.com/betsofbitcoin/status/306469085988921344

[malevolent]

I'm curious about this one.  It was a poorly written bet statement at best, or deceptively written to get people to bet on the losing side.
Fugitive Ex-LAPD Officer Chris Dorner Will Be Apprehended by Law Enforcement by end of day 2/28 EST
At-large fugitive Christopher Dorner will be apprehended by law enforcement by February 28, 11:59pm EST.
 - http://betsofbitco.in/item?id=1215
The timeline shows that he was cornered in the cabin that was set fire on Feb 12th.  His body was positively identified on Feb 14th.
He (living Chris Dorner) was never apprehended, so I think False would be the outcome, though I'm not entirely certain.  He died without being apprehended so I'm pretty sure True would be the wrong outcome.  Maybe a wash (and refund of all bets?) 
If it is decided as False, I wonder what date was the event date.   The 12th?  ... thus only bets made on Feb 11th (the date the bet statement was placed) are valid, with all others getting returned?

I didn't bet myself but I think False should be the outcome because he was NOT apprehended.

http://dictionary.reference.com/browse/apprehend

[elux]

Server is down for maintenance. We'll be back in a couple of hours.

- https://twitter.com/betsofbitcoin/status/306469085988921344

Well, it's been more than a couple of hours. As food for thought, here is a bet to consider:

Prediction: Bets of Bitcoin won't be back online.

Rationale: Whenever a sufficiently anonymous service is entrusted with bitcoin without sufficient collateral,
and the amount thus entrusted is large in comparison to the profitability of the service,
that service will seize to exist when the ratio of coins coming in to the coins going out turns negative.

Deadline: January 1, 2014.

[Spaceman_Spiff]

Server is down for maintenance. We'll be back in a couple of hours.

- https://twitter.com/betsofbitcoin/status/306469085988921344

Well, it's been more than a couple of hours. As food for thought, here is a bet to consider:

Prediction: Bets of Bitcoin won't be back online.

Rationale: Whenever a sufficiently anonymous service is entrusted with bitcoin without sufficient collateral,
and the amount thus entrusted is large in comparison to the profitability of the service,
that service will seize to exist when the ratio of coins coming in to the coins going out turns negative.

Deadline: January 1, 2014.

It's a risk.  But coinjedi has always been very professional in my experience.  I think the number/value of bitcoins being bet is also increasing, so his profits should be going up too.  I am hopeful he is going for a long-term business-model with steady (growing) income instead of becoming another quick buck scammer.

[coinjedi]

Our service provider is having intermittent technical problems for the last few days. We are doing our best for uninterrupted service. Everything looks fine at the moment but let us know if you have any connection issues.

[stephwen]

This one can be closed, too: http://betsofbitco.in/item?id=1207