Brain Wallet Challenges - Challenges provide a Bitcoin Bounty held in a Wallet secured by a Guessable Passphrase.Description:
Challenges provide a Bitcoin Bounty held in a Wallet secured by a Guessable Passphrase. Each challenge has a set category and a set number of hints. Hints must be purchased, but a portion of all hint fees are added to the Bounty!
Links:
Brain Wallet Challenge (www.reddit.com/r/brainwalletchallenge)Welcome PostChallenge #1: Movie QuoteFrequently Asked Questions:
- What's a Brain Wallet? - A brainwallet refers to the concept of storing Bitcoins in one's own mind by memorization of a passphrase.
- Is there a site I can use to generate the Brain Wallets? - Absolutely, check out brainwallet.org
- When are new challenges posted? - After the current challenge is beaten. All new challenges will be flared as such.
- How much does a Hint cost? - The formula is (Total Bounty / Total Hints) * 1.5
- How much of the hint price is added to the Bounty? - 15% goes into the bounty of the current challenge.
- What happens to the rest? - 85% goes towards recouping funds for the next challenge, as well as operational costs.
- How do the hints work? - Each challenge has a set number of hints. The hints get much more specific as you purchase more. Buying all the hints or even most of them essentially gives you the answer. However, be resourceful and you will solve the challenge far before then. Remember that a portion of every hint payment goes towards the bounty. More players equals a higher bounty!
- What is a Salt and how do I use it? - The salt is a random, 10-character string added to the beginning of the challenge passphrase. This will be given to you in the initial post.
Getting Started:
You'll need a Reddit account (as the games are hosted on Reddit) and a ChangeTip account (more information on changetip can be found on their subreddit
/r/changetip or their website
www.changetip.com). Subscribe to the
/r/brainwalletchallenge subreddit to stay informed of new challenges. Purchased hints will be sent to you via a private message on Reddit.
Example Profit Chart (Challenge #1):
The following is the profit table, the column title indicates the number of assumed players; as more contestants buy hints, the profits will increase. Remember 0.001125 BTC is being added to the bounty for each hint purchased.
Hint | 1 Player | 2 Players | 3 Players | 4 Players | 5 Players |
1 | 0.093625 | 0.09475 | 0.095875 | 0.097 | 0.098125 |
2 | 0.08725 | 0.0895 | 0.09175 | 0.094 | 0.09625 |
3 | 0.080875 | 0.08425 | 0.087625 | 0.091 | 0.094375 |
4 | 0.0745 | 0.079 | 0.0835 | 0.088 | 0.0925 |
5 | 0.068125 | 0.07375 | 0.079375 | 0.085 | 0.090625 |
6 | 0.06175 | 0.0685 | 0.07525 | 0.082 | 0.08875 |
7 | 0.055375 | 0.06325 | 0.071125 | 0.079 | 0.086875 |
8 | 0.049 | 0.058 | 0.067 | 0.076 | 0.085 |
9 | 0.042625 | 0.05275 | 0.062875 | 0.073 | 0.083125 |
10 | 0.03625 | 0.0475 | 0.05875 | 0.07 | 0.08125 |
11 | 0.029875 | 0.04225 | 0.054625 | 0.067 | 0.079375 |
12 | 0.0235 | 0.037 | 0.0505 | 0.064 | 0.0775 |
13 | 0.017125 | 0.03175 | 0.046375 | 0.061 | 0.075625 |
14 | 0.01075 | 0.0265 | 0.04225 | 0.058 | 0.07375 |
15 | 0.004375 | 0.02125 | 0.038125 | 0.055 | 0.071875 |
16 | -0.002 | 0.016 | 0.034 | 0.052 | 0.07 |
17 | -0.008375 | 0.01075 | 0.029875 | 0.049 | 0.068125 |
18 | -0.01475 | 0.0055 | 0.02575 | 0.046 | 0.06625 |
19 | -0.021125 | 0.00025 | 0.021625 | 0.043 | 0.064375 |
20 | -0.0275 | -0.005 | 0.0175 | 0.04 | 0.0625 |