[1 BTC] Bitcoin Doubler, plus referral program.

[Alex Beckenham]

My first attempt at a site with direct transaction handling (without using MyBitcoin.com or similar).

A simple doubler for 1 btc, pays out 2 btc to the next person in line:
http://sldoubler.com

Refer people to the site and earn 0.20 btc for every entry they pay for.

Please leave feedback for me as I also did this as an academic excercise.

Thanks

Edit: I just deleted my 2 test entries from the top, so real members that aren't me will start getting paid.
The Active entries counter relies on confirmations, so those of you (THANKS BY THE WAY) that have paid for entries, they are still on 0 conf at the moment.

[Ownski]

How does this work exactly?

[Alex Beckenham]

How does this work exactly?

Each person pays 1 btc to go on a list.

Every time 3 entries are received, it causes a 'cycle' which means the next person on the list gets 2 btc sent to them.

For each 3 btc in, it pays out 2.6 btc. So the site keeps 0.13333333 per entry received.

Edit: I should point out that even if it takes you forever to reach the top of the list, you can still get paid 0.2 for all your referrals' entries.

[Alex Beckenham]

So what happens if someone uses my reflink? http://sldoubler.com/?id=6

If someone pays for an entry using your referral link, you'll get 0.2 btc as soon as the entry has 1 confirmation.

[randomguy7]

How many blocks are required for confirmation (in the line)? When will the payout be processed?

Is the 14 your lucky number? Then use this link to sign up: http://sldoubler.com/?id=14 (lol)

[Alex Beckenham]

How many blocks are required for confirmation (in the line)? When will the payout be processed?

Just 1 block.

+ plus some time for a cron to run. It's currently set to run every 5 minutes while the site is new.

[idev]

Well done and nice work 

I actually wanted to start a bitcoin doubler, but i can't code
for the life of me.

Just joined also, good luck with the site.

[nphard]

Cool idea. Hope for my sake it catches on 

[TiagoTiago]

It's like a pyramd, right?

[Gavin Andresen]

Do these types of 'make money without doing anything productive' schemes bother anybody else, or am I just a financial prude who doesn't recognize harmless fun when I see it?

I feel like we might soon need a Frequently Seen Schemes to go along with our FAQ, just to let people know that using a different currency doesn't suspend the laws of economics.

[error]

Do these types of 'make money without doing anything productive' schemes bother anybody else, or am I just a financial prude who doesn't recognize harmless fun when I see it?

I feel like we might soon need a Frequently Seen Schemes to go along with our FAQ, just to let people know that using a different currency doesn't suspend the laws of economics.

I don't participate in things like this, precisely because it bothers me. It feels too much like ripping someone off, or getting ripped off, and not knowing which going into the transaction.

[左]

It's like a pyramd, right?

Yup, and those at the top get the mostest, while those at the bottom get the leastest (if anything). Just another Ponzi scheme.

I have no problem with someone messing about with Bitcoin to enable direct payment. And this is one thing that doesn't actually require selling anything. But, it should be clear that is in fact a Ponzi scheme and that those at the bottom will receive nothing.

(Personally, I'd prefer to see more Bitcoin laundries, clean those bitcoins!)

[Alex Beckenham]

I don't participate in things like this, precisely because it bothers me. It feels too much like ripping someone off, or getting ripped off, and not knowing which going into the transaction.

For me it feels like letting people use their own free will to participate in a game, or not participate.

[mitchy]

I like it !!

http://sldoubler.com/?id=52 ;]

[nphard]

For me it feels like letting people use their own free will to participate in a game, or not participate.

I agree. I think most people are smart enough to view this as a form of gambling. As long as you're upfront with how the system works (and you are in the FAQ), I don't see the problem.

[gamerkingx]

Started today , hope it works .

http://sldoubler.com/?id=59 <-- if someone wants

2 blocks (118612-118614)  further and no confirmation???

[Alex Beckenham]

Started today , hope it works .

http://sldoubler.com/?id=59 <-- if someone wants

2 blocks (118612-118614)  further and no confirmation???

Is it confirmed yet? What address did you send to?

[gamerkingx]

Started today , hope it works .

http://sldoubler.com/?id=59 <-- if someone wants

2 blocks (118612-118614)  further and no confirmation???

Is it confirmed yet? What address did you send to?

Well it got 1 confirmed block now and the adress is in my signature.

[Littleshop]

I just did it, with paid to referrer 59 gamekingx

http://sldoubler.com/?id=61

[Alex Beckenham]

Well, quite a few people have had their bitcoins doubled so far... it would be nice to hear from them. Who are you?