how exactly does this mooncoin thing work when far far more people bet on one side than the other?
do they wait til the end and just pay out the first bets..refunding the money of everyone else who didnt get a matching bet on the other side?
or does everyone on the winning side split up the winnings based on how much they bet?
I figure the later.. but would like to make sure
Yes, the latter. Check out the FAQ
At the moment the bets are at a won't:will ratio of about 5:1.
- If you put a bitcoin on "won't reach 20 USD" you'll get about 1.2 BTC back in September if you are right.
- If you put a bitcoin on "will reach 20 USD" you'll get back about 6 BTC if it touches 20 USD at any point.
There's a total of over 60 BTC in the pot right now! Exciting stuff.