IPL 2021: Entry free discussion [End], Joining OPEN

[AB de Royse777]

After a missive hit (the last IPL), here we are again!
In the last IPL the prize pot was 0.09525399 BTC which was $1,698.77 at the time when I sent the prize to the winners. BTC is skyrocketing and in today's price  0.09525399 BTC is more or less $4,654! I wish the price was less so that we could have more sats :-D

IPL 2021 has been scheduled from 11 April 2021 which means we have 5 weeks in hand and in this five weeks we will need to find participants, sponsors and finalize everything before I unlock the main thread. But first we need to find a fair entry prize and need to see how many users are interested to join the pool. I will keep this topic open for a week. Let's promote this topic in different topic (cricket related).

It will be easier for me to talk to the sponsors when there will be many interested users to join the pool. So I would request the regulars to give little efforts to help us to manage at least 20 participants.

[1715435798]

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[AB de Royse777]

Reserved!

[Vishnu.Reang]

Hi Royse.. many thanks for taking the initiative once again. Last time, the entry fee was BTC0.001 and back then it was around $10 as per the prevailing exchange rates. The prices have increased by almost 5x since then, and BTC0.001 in today's exchange rate would be worth $50. So I am not sure whether BTC0.001 will be affordable for everyone. For me, it is OK since I am earning around that much from one week's signature campaign. So please take a decision based on the feedback from other users. I will join this pool irrespective of the fee.

[Haunebu]

IPL 2021 already? Sign me up. Very short gap between 2020 and 2021 editions. Am excited for the upcoming tournament on Superbru especially after the last edition. Try splitting the workload with other members since I feel it's way too much work for 1 moderator.

I feel $10 should be the entry point just like the previous edition which could attract far more gamblers this time around since the last edition was quite successful based on what I observed.

LTC should be provided as a payment method due to the rising fees related to BTC and ETH currently.

[AB de Royse777]

Thanks for your input guys! Let more people involve in this before finding a sweet point of the entry price.

LTC should be provided as a payment method due to the rising fees related to BTC and ETH currently.

I think we will let everyone to use low transaction fees. I would suggest not to go with more than 5 sat/B. We will not be in hurry to get the coins confirmed as we will have long days to wait.

It's hassle to convert atls however maybe I will consider LTC too, but I need to check if I have an available option to convert the total to bitcoin.

PS: Please feel free to bring any sponsor for the pool if you know anyone is looking for advertisement.

[JSRAW]

Okay with $10-$30.. or whatever community decide, i'm in already.

Last season was pretty bad for me  , i hope will improve my numbers this season and will try to top the tally. 

[Stedsm]

Interested in joining as IIRC I took that "free" spot that was given to me on behalf of efialtis who was one of the sponsors last time. I believe that if we manage to fund BTC0.0002-BTC0.0005, then it will bring the total to around BTC0.004-BTC0.01 if 20 participants are gathered. Rest, if you'd allow more sponsors, then a good amount will be collected and I believe that the prize money is least desired when it's about gambling over IPL because the excitement is what we're all here about.

[Vishnu.Reang]

As Haunebu has already posted, I am in favor of adding more payment options such as BCH or LTC. Making payments below BTC0.002 is not viable with Bitcoin, because of very high transaction fee and delays in getting the confirmation. Obviously we have the option of making payments with very low fee, but if the Mempool remains clogged, then the transaction may never get confirmed.

BTW, the dates were announced today. IPL 2021 will start next month. The first match is between Mumbai Indians and Royal Challengers Bangalore, scheduled for April 9 2021. So we have around 1 month to finalize the entry fee and other aspects of the pool.

[AB de Royse777]

It seems having an alternative payment method is public demand now, I understand it's practical too. So, I will have an LTC address which will be a temp address. Once all payments are received then I will transfer the LTC to any exchange and convert them into BTC at the rate on that day.

Hope this way we will be able to take care of the high fees issue.

[Stedsm]

It seems having an alternative payment method is public demand now, I understand it's practical too. So, I will have an LTC address which will be a temp address. Once all payments are received then I will transfer the LTC to any exchange and convert them into BTC at the rate on that day.

Hope this way we will be able to take care of the high fees issue.

Why LTC and not USDT on TRC20? I believe it is very feasible to use USDT over LTC and even keep it in USDT only till the tournament ends? Because if (and only if) the price of BTC falls down a lot (like 50% or more if a bearish retracement takes place under the effect of bubble burst scenario), I believe that the prize money will be halved down and maybe even less. I know that I was the one who said that we are here for excitement and not the prize money only but what if the value of BTC suddenly crashes? We're already witnessing some high-end retracements which might not be good for the prize money.

[eaLiTy]

It is fine if the entry is around $10 to $30 and we can send the BTCitcoin with low fees and it will get confirmed within a couple of days and mostly during weekend the transaction charges comes down to 11 Sat/B for a 24 hours confirmation and around 25 Sat/B for a six hours confirmation.

Edit:
The transaction charges now are 8 sat/vB

Last season was pretty bad for me  , i hope will improve my numbers this season and will try to top the tally.  

I am also hoping to improve from the last season.

[Haunebu]

Why LTC and not USDT on TRC20? I believe it is very feasible to use USDT over LTC and even keep it in USDT only till the tournament ends? Because if (and only if) the price of BTC falls down a lot (like 50% or more if a bearish retracement takes place under the effect of bubble burst scenario), I believe that the prize money will be halved down and maybe even less. I know that I was the one who said that we are here for excitement and not the prize money only but what if the value of BTC suddenly crashes? We're already witnessing some high-end retracements which might not be good for the prize money.

I am not expecting any big crashes anytime soon primarily due to the pandemic which will probably last till the end of this year. Also, LTC transactions are way faster and their fees are lower when compared to USDT which is why it's the better alternative in my opinion.

It is fine if the entry is around $10 to $30 and we can send the BTCitcoin with low fees and it will get confirmed within a couple of days and mostly during weekend the transaction charges comes down to 11 Sat/B for a 24 hours confirmation and around 25 Sat/B for a six hours confirmation.

True, but some transactions can get stuck for an indefinite amount of time due to clogging issues. This is why LTC is a better alternative.

[justdimin]

I think we will let everyone to use low transaction fees. I would suggest not to go with more than 5 sat/B. We will not be in hurry to get the coins confirmed as we will have long days to wait.

I am sorry if this is a bad idea but I was thinking about it for a while now.

How about we tip you on the site that sponsors the pool. For example, if stake.com sponsors the pool, we can tip you in the site itself which saves all the fees and also promotes the site and hence it benefits both the players and the sponsors.

I might join even if there is a fee to join, no commitment yet though. But I believe if there are no transaction fees problems, more players can join and as sponsors get more viewership and exposure they will be glad to sponsor it.

Really excited to see how this pans out and I hope we have enough players and interest in this, big thanks to you for holding such contests and managing them fluently.

[AB de Royse777]

So many options for payment coins. I liked the idea how tipping on stake, going with USDT TRC20 token is also fine, but I need to go with one alternative so that I do not need to give bunches of addresses to send the entry fees. I hope going with LTC and BTC is very practical in this case. And like I said, all the LTC will be converted to BTC once everyone will make their payments or after the fast few matches when it's confirmed that there will be no more participants.

So let's close the discussion about accepted coin.

We are accepting LTC and BTC. Before two weeks of the opening match I will post the address on this topic to collect the entry fees.

For entry fees, let's go with $20. I think this is fair considering the bullish market. Two weeks before I will calculate what will be the BTC and LTC amount for the entry fees and will post it on the same topic.

Now I need you guys to help me on finding sponsors. My goal is to manage a main sponsor who will put minimum $2k in the prize pot and for the side sponsors (4 small banners at the bottom) maybe $300 each?

PS: I would appreciate your efforts and let's put a price for it. If anyone brings a sponsor then 5% will be given to you to honer your efforts. These days I am not much into Telegram so Forum PM or publicly make a post about your source and also tell them to PM me on the forum if they are interested to sponsor our pool.

[Haunebu]

For entry fees, let's go with $20. I think this is fair considering the bullish market. Two weeks before I will calculate what will be the BTC and LTC amount for the entry fees and will post it on the same topic.

$20 is a reasonable amount, but this could dissuade some participants from participating. I still feel that $10 should be the entry fee just like last year since a bullish market doesn't necessarily mean that all investors profited from it.

The lower entry fee could help accumulate more participants which could probably be more profitable when compared to fewer participants paying a higher entry fee. Just my 2 cents.

[Vishnu.Reang]

For entry fees, let's go with $20. I think this is fair considering the bullish market. Two weeks before I will calculate what will be the BTC and LTC amount for the entry fees and will post it on the same topic.

$20 is a reasonable amount, but this could dissuade some participants from participating. I still feel that $10 should be the entry fee just like last year since a bullish market doesn't necessarily mean that all investors profited from it.

The lower entry fee could help accumulate more participants which could probably be more profitable when compared to fewer participants paying a higher entry fee. Just my 2 cents.

IMO, $20 is the best option. I would have proposed BTC0.001 (i.e $50), but then it would have been unaffordable for the majority. But I guess anything below $20 (BTC0.0004) would result in spammers and non-serious users flooding the pool, which is not preferable at this point. But I am OK with any amount, if the majority here agrees with it. After all, we need at least 20 participants, or else getting the sponsorship will be very difficult.

[AB de Royse777]

$20 is a reasonable amount, but this could dissuade some participants from participating. I still feel that $10 should be the entry fee just like last year since a bullish market doesn't necessarily mean that all investors profited from it.

The lower entry fee could help accumulate more participants which could probably be more profitable when compared to fewer participants paying a higher entry fee. Just my 2 cents.

I think $20 would not look much of an amount if we are able to manage some good amount of prize money from the sponsors. Imagine a pot worth of $2k or $3k. You are being a part of it by paying only $20 which is a lot if one consider the return.

Anyway guys, let's focus on finding sponsors now.

Now I need you guys to help me on finding sponsors. My goal is to manage a main sponsor who will put minimum $2k in the prize pot and for the side sponsors (4 small banners at the bottom) maybe $300 each?

PS: I would appreciate your efforts and let's put a price for it. If anyone brings a sponsor then 5% will be given to you to honer your efforts. These days I am not much into Telegram so Forum PM or publicly make a post about your source and also tell them to PM me on the forum if they are interested to sponsor our pool.

[AB de Royse777]

Bump!
Let's find a sponsor.

[Little Mouse]

For entry fee, I think 0.0005 BTC will be a better option and affordable for all. Personally, I will join even if the fee is 0.001 or higher.
Royse, if you are allowing LTC, what's the plan? Convert them into BTC or pay LTC later. I think accepting any one would be fine, either LTC or BTC. The fee isn’t that high all the times. The tournament will be going on 1 whole month.
And with 5/6 sats per byte, tx will get confirmed in any of the days of a week.

[Vishnu.Reang]

For entry fee, I think 0.0005 BTC will be a better option and affordable for all. Personally, I will join even if the fee is 0.001 or higher.
Royse, if you are allowing LTC, what's the plan? Convert them into BTC or pay LTC later. I think accepting any one would be fine, either LTC or BTC. The fee isn’t that high all the times. The tournament will be going on 1 whole month.
And with 5/6 sats per byte, tx will get confirmed in any of the days of a week.

I don't have any issue with the fee, irrespective of whether it is BTC0.0005 or BTC0.001. My concern is regarding the number of participants. We need at least 15-20, else the sponsors may not show much interest. For the last year's edition we had more than 20 participants and that helped to get a good sponsorship from sportbet. BTW, I was hoping that BCH would be one of the payment options. I don't have any LTC remaining in my wallet. But that is not an issue, and I will be making the payment with BTC.

[AB de Royse777]

We are ready for accepting participants.
Read more and join: https://bitcointalk.org/index.php?topic=5114470.msg56547054#msg56547054

This topic is lock now.

Thanks for taking part in the conversation.