BTC Pile - 110% return + 5% guranteed if you tweet with (100+ followers)

[poncrypto]

Thank you wil!

So the game is not actually 24 hours its 23hours 30 minutes. That is where the confusion comes from. If it was 24 hours and 30 minutes before game end and game start then we would keep moving time forward 30 minutes every day...

Let me know if that explains it. I will correct it on website after.

Here is my to do list (No promises when I get to it)
1. Change from 24 hours to 23:30
2. More Round Stats + Balance
3. Try to pass server time from server so computer clock is not used
4. All Time Stats

[badjacks99]

Just curious, is coinbase a wallet that is compatible with this site?

[poncrypto]

Just curious, is coinbase a wallet that is compatible with this site?

It would not work to my knowledge. Blockchain wallet however should work(but test with a small amount).

Maybe this is a good reason to dowload bitcoin-qt since it is better to hold your bitcoins by yourself.

[badjacks99]

That makes sense, ill look into Bitcoin-Qt. Im guessing thats an offline wallet, don't know much about it. Anyhow, thanks for the quick response and the information.

[poncrypto]

That makes sense, ill look into Bitcoin-Qt. Im guessing thats an offline wallet, don't know much about it. Anyhow, thanks for the quick response and the information.

Its the official wallet which you can download here, there are several you can try depending on your system resources.
https://bitcoin.org/en/choose-your-wallet


What do the other players use?

[brierly]

the website looks cool will try it out.

[btc_rocks]

Blockchain.info wallet will work on this site and all others like it.  Blockchain has a single wallet address not shared like coinebase and others.

[poncrypto]

Blockchain.info wallet will work on this site and all others like it.  Blockchain has a single wallet address not shared like coinebase and others.

I wonder how do they control change addresses that return the change to the single address. That is pretty good programming.

[wil]

I think you should reduce house edge from 5% to 1%. That would correspond to most other btc (dice etc.) games. Or do you really think >1btc per day is needed for keeping your server up?
As more people gain money, game will become more successful!

[poncrypto]

I think you should reduce house edge from 5% to 1%. That would correspond to most other btc (dice etc.) games. Or do you really think >1btc per day is needed for keeping your server up?
As more people gain money, game will become more successful!

Thank you for your suggestions but we have been running this game for more then a month and tried many things. I don't think you considered:

1. Please count how much we will make this round.... going to be close to .25BTC but if the last person deposits .30BTC ... then we make -0.05BTC
2. At 1% whats the upside for running this again and spending time? 0.05BTC upside with a potential loss of 0.25BTC ?
3. It takes a lot of time to run this and to make sure all is working smoothly as well as there are costs for advertising

About Dice,
DICE edge is much higher then 1%. They just use other techniques to increase the income... while their edge is significantly higher then 1%.
If you are sure their edge is only 1% just roll the dice and if you lose double your bet and keep doing it... you will eventually win
http://en.wikipedia.org/wiki/Martingale_(betting_system)

[wil]

thx for explanation and running this cool game!

[klondike_bar]

question: the payout currently waiting is 0.3BTC (0.33BTC return).  There is 0.376BTC in the game address, shouldnt this be paid out to #35 and #36?

[PangPang]

About Dice,
DICE edge is much higher then 1%. They just use other techniques to increase the income... while their edge is significantly higher then 1%.

Much higher than 1%?
The two biggest dice sites, just-dice and primedice, both have edge at 1%.
You can even find some newer and smaller dice sites (such as everydice) with slightly lower edge.

[PangPang]

If you are sure their edge is only 1% just roll the dice and if you lose double your bet and keep doing it... you will eventually win
http://en.wikipedia.org/wiki/Martingale_(betting_system)

It looks like you have misunderstood martingale lol.
Instead of "you will eventually win", it should be "you will eventually lose all your money".

Search for "Gambler's ruin" and "St. Petersburg paradox" if you are interested. 

[Rehan]

question: the payout currently waiting is 0.3BTC (0.33BTC return).  There is 0.376BTC in the game address, shouldnt this be paid out to #35 and #36?

There's now 0.39984567 BTC in the game address but no payout for #35 or #36 yet.

[wil]

@klondike_bar
@Rehan

5% house edge

[poncrypto]

question: the payout currently waiting is 0.3BTC (0.33BTC return).  There is 0.376BTC in the game address, shouldnt this be paid out to #35 and #36?

There's now 0.39984567 BTC in the game address but no payout for #35 or #36 yet.

Formula is (Total Deposits - Paid Deposits) - (5% of Total Deposits) = Balance

[poncrypto]

About Dice,
DICE edge is much higher then 1%. They just use other techniques to increase the income... while their edge is significantly higher then 1%.

Much higher than 1%?
The two biggest dice sites, just-dice and primedice, both have edge at 1%.
You can even find some newer and smaller dice sites (such as everydice) with slightly lower edge.

If you believe their real edge is 1% I have a bridge I want to sell you.

[poncrypto]

If you are sure their edge is only 1% just roll the dice and if you lose double your bet and keep doing it... you will eventually win
http://en.wikipedia.org/wiki/Martingale_(betting_system)

It looks like you have misunderstood martingale lol.
Instead of "you will eventually win", it should be "you will eventually lose all your money".

Search for "Gambler's ruin" and "St. Petersburg paradox" if you are interested. 

Yes this is true The odds are highly against you in the end in the casino gambling games.

In this sort of game... if your Bitcoin is stuck and you are a talented promoter and know how to pump a game.. .you can easily get people to play after you by posting on reddit / twitter / forums / trollboxes ... etc

[Rehan]

Just curious, why do some blocks take so long -- is it just a random occurrence or does this game stress the bitcoin network's ability to handle transactions?

Great game, than crytopon!