BitPonzi.Net - Offline

[ama]

Know what you mean, but I think the last bit is most fun! At least only if there is something to actually snipe!! That's why I suggested that new game type. What do ya think about it? I think it has the best parts of both games, and (in theory) none of the worst parts, but not seeming to get much response so perhaps I've missed something .

Well, as I said, I think the fixed end takes away all the fun.  I don't see the point.  Plus, probably many people will know they won't be able to be around at an exact time, but they might be able to play if there is a window of several hours where they can get in. I guess only a tiny fraction of people might want/be able to play, and probably they'll jump in only at the very last moment.  What's the point of beting now knoing there isn't the slightest chance your bet might win?  I don't know, perhaps I'm missing the point all together.

[1713424243]

1713424243

[ineededausername]

Know what you mean, but I think the last bit is most fun! At least only if there is something to actually snipe!! That's why I suggested that new game type. What do ya think about it? I think it has the best parts of both games, and (in theory) none of the worst parts, but not seeming to get much response so perhaps I've missed something .

Well, as I said, I think the fixed end takes away all the fun.  I don't see the point.  Plus, probably many people will know they won't be able to be around at an exact time, but they might be able to play if there is a window of several hours where they can get in. I guess only a tiny fraction of people might want/be able to play, and probably they'll jump in only at the very last moment.  What's the point of beting now knoing there isn't the slightest chance your bet might win?  I don't know, perhaps I'm missing the point all together.

If you don't like fixed, see my original proposal...

"I've got an idea for how to make the highest jackpot rounds sustainable but still allow them to end at some point.
This is copied over from the 1BTC to last post thread.
We could have a sort of variable expiration time.  With each deposit it geometrically decreases until it ends up being something like 1 hour.  Or we could halve the expiration time every 5 deposits, or every 5 btc deposited, or something like that."

[Trevor]

Know what you mean, but I think the last bit is most fun! At least only if there is something to actually snipe!! That's why I suggested that new game type. What do ya think about it? I think it has the best parts of both games, and (in theory) none of the worst parts, but not seeming to get much response so perhaps I've missed something .

Well, as I said, I think the fixed end takes away all the fun.  I don't see the point.  Plus, probably many people will know they won't be able to be around at an exact time, but they might be able to play if there is a window of several hours where they can get in. I guess only a tiny fraction of people might want/be able to play, and probably they'll jump in only at the very last moment.  What's the point of beting now knoing there isn't the slightest chance your bet might win?  I don't know, perhaps I'm missing the point all together.

I guess the point of betting before the end is hoping you'll still get paid out even though you wont win the jackpot. The sniping that goes on at the end usually results in a handful of the earlier deposits getting paid out. Obviously it only really makes sense if you are gonna be there at the end to try and win the jackpot, and even then only if the jackpot is a good few times the minimum bet, but that doesn't seem to be happening which it would if we had a jackpot trigger. Don't think you're missing the point, I suppose its just a completely different type of game, not really a ponzi but still good fun if it goes well.

[Trevor]

Ok, I guess I've learnt that it's a bit dumb to start a fixed duration round without seeing if anyones interested in contributing. If a couple of people make small/medium deposits then I'll do the same, that will at least double the jackpot and make it something worth fighting over. 

[mb300sd]

Any new features are gonna have to wait till I actually have time to work on the site again, and thoroughly debug it on the testnet. I have 3 projects for class due in the next week or so...

Although, if anyones interested in Namecoin ponzi, especially with the merged mining beginning soon, I could get a site up in about 5 mins.

[ineededausername]

The current massivejackpot will last forever, but it is being very slow... people are hardly investing in between expiration times.
If you want to see a 15btc initial deposit, 30% jackpot, 1hr expiration, 25% roi round, then simply send the amount you are willing to invest in such a ponzi to 1G57jZ4bV1vN1H8rgw9Tu2E99gJcFWmjoW (in satoshis (0.00000001btc)!).  For example, if you will deposit 1btc once it is created, send 1 satoshi to that address.  If I manage to get at least 7 satoshis, I will create that round and it will be announced in this thread.

[mb300sd]

The current massivejackpot will last forever, but it is being very slow... people are hardly investing in between expiration times.
If you want to see a 15btc initial deposit, 30% jackpot, 1hr expiration, 25% roi round, then simply send the amount you are willing to invest in such a ponzi to 1G57jZ4bV1vN1H8rgw9Tu2E99gJcFWmjoW (in satoshis (0.00000001btc)!).  For example, if you will deposit 1btc once it is created, send 1 satoshi to that address.  If I manage to get at least 7 satoshis, I will create that round and it will be announced in this thread.

Unless you know of a way to send it without paying transaction fees, whoever does would be paying 50000x more in fees  

[Sohcahtoa]

I'm going all-in.

Just before Bitcoinduit was terminated, I lost the majority of my BTC in a ponzi that I really expected to win.  All I have left is about 0.5 BTC invested in BTCOnTilt (Which I will gamble away), plus a little over 0.14 in my wallet.

So, I think I'm done with Bitcoins.  I'm going to stop mining (My GeForce 460 only pulled 60 MH/s anyways), and I'm throwing my last few bitpennies into this final ponzi, Sohcahtoa's ALL IN.  Every time I get paid, I guarantee I will re-invest 0.1 BTC of the winnings.  After the ponzi ends, I will split whatever money I have left equally between the second to last person to deposit and the first unpaid deposit.  For example, if persons A, B, and C got paid, D, E, F, and G didn't, and H got the jackpot, then I will split the money between D and G.

Remember, I'm only re-investing 0.1 BTC each time I get paid, and the ROI is 25%.  That means that this second jackpot will grow by 0.025 BTC each time I get paid.

[ineededausername]

The current massivejackpot will last forever, but it is being very slow... people are hardly investing in between expiration times.
If you want to see a 15btc initial deposit, 30% jackpot, 1hr expiration, 25% roi round, then simply send the amount you are willing to invest in such a ponzi to 1G57jZ4bV1vN1H8rgw9Tu2E99gJcFWmjoW (in satoshis (0.00000001btc)!).  For example, if you will deposit 1btc once it is created, send 1 satoshi to that address.  If I manage to get at least 7 satoshis, I will create that round and it will be announced in this thread.

Unless you know of a way to send it without paying transaction fees, whoever does would be paying 50000x more in fees  

Damn nothing I can do about that.  I mean the fees are still 0.0005; you can even get those from dailybitcoins!
Also, I got 0 satoshis

[Jonathan Ryan Owens]

New feature suggestions:

I like them. It got me to thinking..

I had an idea that might fit with what you're all saying.. mb300sd, chime in if you're around.

A new type of round, where the rules are all the same as present, but where, when each new deposit is made, the amount of time in the 'reset' is reduced by x%.

Example:

Decreasing Time Round Example / What If ?

Round: Exponential_Time_Warp

ROI: 25%
Jackpot: 20%
Fees: 3%
Minimum Deposit: 0.1 BTC
Maximum Deposit: 1 BTC
Expiration: 21.904152 hours of inactivity
Time Erosion - Each Bet (also, each POT FILLED amount?): 3%
Time Remaining: 21.904152 hours

//--Time remaining will reset to 3% of the previous total for each deposit. Let's assume that #4 JUST deposited, and the "Time remaining" field has reset. From bet 1 to bet 2, the time reset to 24 hours - 3%, or 23.28 hours. From round 2 to 3, the time reset to 22.5816. From round 3 to 4, the time reset to 21.904152. When bet #5 happens, the remaining time at reset will be 21.24702744. And on and on.//

Deposits:

#   Payment Address   Deposit Amount   Payout Amount   Time (UTC)   Paid?
1   1HKMCZztvUDe55FME52RfG72BsPV6J8CNe   0.148321   0.1854012   9/20/2011 10:05:15 PM   True
2   16rSNfXCxw6ZtZAA9MsE135nEBAmKdmTBV   0.2   0.25   9/20/2011 10:27:21 PM   False
3   1HKMCZztvUDe55FME52RfG72BsPV6J8CNe   0.1   0.125   9/20/2011 10:37:32 PM   False
4   1Dj5N36hdK3wxYLm7fucnzssaHuojYwTkR   0.1   0.125   9/20/2011 10:41:01 PM   False
Deposit Stats:

Deposit Total: 0.548321
Payout Total: 0.1854012
Fees Total: 0.0312817
Pot: 0.2219738
Jackpot: 0.1096642


</example>

SO. The host should be able to set the % of time erosion per bet. Once it gets down to 10 minutes at 3% erosion, the 3% erosion makes a smaller impact on the time remaining. If a host were to set 50% erosion, with a 24 hour game, then successive bets would reduce the time as follows, in the order of bets.

1. 24 hours
2. 12 hours
3. 6 hours
4. 3 hours
5. 1.5 hours
6. 0.75 hours
7. 0.375 hours
8. 0.1875 hours
9. 0.09375
10. 0.046875

After the 10th bet, 2.8125 minutes would remain until the round expiration. As you continue going on in bets, the time decreases.

So.. What do you guys think?

-Jonathan

[ineededausername]

New feature suggestions:

I like them. It got me to thinking..

I had an idea that might fit with what you're all saying.. mb300sd, chime in if you're around.

This is basically what I meant, except the erosion could also be "per bitcoin" (or fraction thereof) rather than "per deposit."  The erosion would still be calculated every time there's a deposit.

[mb300sd]

Damn nothing I can do about that.  I mean the fees are still 0.0005; you can even get those from dailybitcoins!
Also, I got 0 satoshis

I just sent 1.. and I like this new block explorer, shows the unconfirmed.
http://pi.uk.com/bitcoin/address/1G57jZ4bV1vN1H8rgw9Tu2E99gJcFWmjoW

Are there only 2 people interested?


I like the ideas.. Will put them on the list for after I finish these crazy projects.. upper level CS classes suck.

[ineededausername]

I got 11 satoshis.  Now I'm wondering if the 10 satoshis were a typo or real...
edit: what are you doing for your projects?

[ineededausername]

Just got a pledge of 5 bitcoins!  Alright, let's agree on a time and I'll put it up when that time comes.
Anyone?
I say 8pm EST. (gmt-5)

[mb300sd]

So is that a pledge of 17 BTC or 7BTC? Anyone want to speak up for those 10 satoshis?

8pm tomorrow I'm assuming? or 1.5 hours ago?

Projects are creating a relational database, in java  and a group project building a website, which wouldn't be so bad, except noone else in my group has ASP experience, 1 person has PHP experience, and the 2 others have never done it before...I'd rather do it alone. I wonder if I could submit bitponzi, it fits the requirements

[Jonathan Ryan Owens]

So is that a pledge of 17 BTC or 7BTC? Anyone want to speak up for those 10 satoshis?

8pm tomorrow I'm assuming? or 1.5 hours ago?

Projects are creating a relational database, in java  and a group project building a website, which wouldn't be so bad, except noone else in my group has ASP experience, 1 person has PHP experience, and the 2 others have never done it before...I'd rather do it alone. I wonder if I could submit bitponzi, it fits the requirements

Do it. Make their contribution that they are the models holding a printed "bitPonzi" sign you print out and then post on the site.

-Jonathan

[ineededausername]

Dude, this is the perfect opportunity to introduce your friends to the wonderful world of bitcoin! (and also bitponzi!)
It sort of makes me wonder: what are the origins of this "honest ponzi" thing?  I think it's a bitcoin in-joke or something.
edit: Unless anyone else disagrees, the first 1hr massive jackpot on bitponzi will begin tomorrow at 8pm est with an initial jackpot of 6.6BTC!!!

Also, someone better tell me what they meant by sending me 10 satoshis... I really want to know.

[ineededausername]

Oh man this is exciting... just got a 15btc pledge.

If you pledged any satoshis please make sure to post in this thread so that I can coordinate the launch with you!!!

[ineededausername]

http://bitponzi.net/Round_MASSIVEJACKPOT.aspx IS ENDING SOON!
JUST 5.76 HOURS LEFT!
It will end at 4am EST so if you want to go to sleep tonight you better invest!

[Jonathan Ryan Owens]

Dude, this is the perfect opportunity to introduce your friends to the wonderful world of bitcoin! (and also bitponzi!)
It sort of makes me wonder: what are the origins of this "honest ponzi" thing?  I think it's a bitcoin in-joke or something.
edit: Unless anyone else disagrees, the first 1hr massive jackpot on bitponzi will begin tomorrow at 8pm est with an initial jackpot of 6.6BTC!!!

Also, someone better tell me what they meant by sending me 10 satoshis... I really want to know.

A few months ago I was curious about the spreadsheet games that others were playing via google spreadsheet. I got in touch with a friend who I wanted to work on a project with, and we built it. Mostly through Chat/IM. I was the face, architect and my partner was the back end, architect and builder.

It is an in-joke, you are correct. It's a living representation of Bitcoin, as one degree of reality. Transparent? Yep. Pushing boundaries? 0 Confirmation payout? Yep. Jackpots / Snake eating its own tail? Yep.

So, my friend and I are the masterminds of the hosted ponzi model. We built it, and the community contributed quite a bit. It gave us the experiential education we needed to understand how to use, and extend bitcoin into other projects.

The ponzibot will be free to use, by the way. I'd like to see if mb300sd would be interested in a shared VPS, because I'd like to relaunch in multiple regions with multiple ponzis - bitponzi EU, bitponzi UK, bitponzi  JP, etc.

The ponzi bot is being built to accommodate any bitponzi API.

Regards,
Jonathan