What does it mean when there are like 6 unpaids on a game? How do they get paid?
this really needs to be on the bitcoinduit site.
Say you have a game with 0 fees and 0 jackpot (for simplicity's sake) The ROI is 20%
bet #1 is 1 BTC. Bitcoinduit takes 0.1 BTC off the first bet as a house fee. The pot is 0.9
bet #2 is 1 BTC. The pot is now 1.9. #1 gets paid his 1.2 (1 bet + 20% ROI = 1.2). The pot is now 0.7
bet #3 is 0.5 BTC. The pot is now 1.2. bet #2 gets paid his 1.2. The pot is now 0
bet #4 is 0.5 BTC. The pot is now 0.5. That's not enough to pay #3, so it rides.
bet #5 is 0.5 BTC. The pot is now 1.0 BTC, so #3 gets paid .51, the pot is now .49
and so on
The later bettors pay off the earlier bettors. That's what a ponzi scheme is. The difference here is that it's totally transparent. Everyone can see what the deal is at any time, and bet accordingly.