bit$pud - Official Thread - bit$pud the Bitcoin & Litecoin Investment Game...

[BitSpud]

We Proudly Announce the Launch of;

bit$pud

the BTC & LTC Investment Game

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Grab the Free Spuds Before they're Taken!

Play & Profit by up to 100%!

Consolations up to 50%!

You can also advertise your Spud via Facebook, Twitter & other social media networks thanks to our easy to plant Spuds

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Visit www.bitspud.com for further details.

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[BtcVegas]

Nice site, I hope you become successful like most of us here.

Cheers!

[rz20]

I have heard about your website and many people was happy. I have never used your service but it looks good.

[restu001]

how to play on your site ?

[Bit-Gods]

how to play on your site ?

I also didnt understand perfectly.

[BitSpud]

Firstly we would like to thank you all for all the kind words, we've worked very hard to produce a fun and safe place to gamble with bitcoin, and we hope you guys enjoy playing.

The game is similar to that of hot-potato, firstly you need to buy a spud. When you buy your spud the clock resets to its full amount. The price goes up by the gain therefore the person who buys the spud off you will have to pay more to get it off you. If you sell the spud before the time runs out you will win a profit, if you do not sell the spud before the time runs out you shall receive the consolation amount which is the percentage of the amount you invested.

We hope this has helped to explain the game, please ask any more questions if necessary.

We hope you enjoy the game...

[ponzigo]

I believe it is risky... I will wait when one spud end to bet.

[bajing]

Whats this

[BitSpud]

Game Basics:

1: Buy a Spud (Timer resets, price goes up)

2: Wait for someone to buy the Spud you invested in.

3: If someone buys it you get a profit if you dont you receive a consolation.

(All consolations are the percentage of your stake)

Please visit the site for further details,

www.bitspud.com

Thank you again for all the support!!!

Best wishes the bitSpud support team

[nitansh]

Amazing idea , nice design and i like your site but at the end its not investment is it ?

[BitSpud]

Thank you for your compliments.

Regards to whether it is an investment, first of all it is a gambling game, but the game is built around the principles of investment.

You can also actively try and sell your investment through the share button or just by you personally trying to sell your Spud investment.

We hope this has helped to explain the game.

Best Wishes

the bitSpud support team

[monbux]

... Isn't it just a ponzi scheme?

[SelbyTsang]

... Isn't it just a ponzi scheme?

At least he describes clearly how the "investment" will be handled when the timer is over, rather than using some fake promises like "guaranteed profit" to attract customers.

[BitSpud]

Regarding whether this is a ponzi scheme the correct answer is no.

Please read http://www.investopedia.com/ask/answers/09/ponzi-vs-pyramid.asp for further details.

This is not a ponzi because a ponzi scheme deceives the investor by not disclosing the pyramidal structure underlying the return of profits. The game is clearly based on a pyramidal structure therefore there is no deception. Pyramid scheme is a better comparison as the emphasis is on the player to recruit (i.e. try and sell the Spud), however the proper description would be that bitSpud is a gambling game based upon a pyramidal structure. There is no guarantee of return but these are characteristics of both gambling and pyramid schemes. Also ponzis and pyramid schemes do not offer consolations. We offer 50% consolations which is by far higher than any of our competitors.

We hope this has helped to clarify the game.

Best Wishes

the bitSpud support team

[BtcVegas]

Nice site best wishes to you.

[waterpile]

hmmmm its hard to say if real players are winning.

[jeffthebaker]

There was a website a while back with the same concept, but the "spuds" had some sort of actual value to them. People were able to advertise on their investment, putting whatever they wanted and effectively spending money on an ad while also having a chance at profitting from the investment. Any chance on a feature like this or something else to add value to your "spuds" other than the ability to have a chance at someone purchasing a spud after you?

[BitSpud]

INDEPENDENT REVIEW:

http://www.bitcoingg.com/bitcoin-gambling-sites/bitspud/

Many thanks to bitcoingg (bitcoin gambling guide) from;

all at bitSpud

[BitSpud]

LATEST NEWS:

CONGRATULATIONS TO 1FW3ok... ON HIS SALE OF THE SPECIAL SPUD!!!

PROFIT: 0.000919 BTC


CONGRATULATIONS!!!!

[BitSpud]

LATEST NEWS:

CONGRATULATIONS TO Sy ON HIS SALE OF THE SPECIA-LTC SPUD!!!

RECEIVED: 0.01154 LTC


CONGRATULATIONS !!!!!