PAY IT BIG - A Gamble of Skill, Guts, and Strategy

[SgtSpike]

PAY IT BIG

This is a relatively simple game, with the potentially for a very large payout to the winner.  It has a bit of a penny-auction vibe to it.

The rules:
- The largest single bet (or payment) made and confirmed to the game address by the time that the game-ending block is mined wins all of the funds sent to the game address.  The winnings will be sent back to the same address that the bet was made from.
- The game ending block is block number 186,500, which will likely be mined around 4.9 days from now, or around 8:00 PM PST.
- Bets are not cumulative.  A bet of 10 BTC with another bet of 100 BTC does not equate a bet of 110 BTC, even if the bets come from the same address.
- No fees (I am doing this just for fun).

I expect that most bets will be made near the end of the game, but I could be wrong.  I started it off with a 0.1 BTC bet though! 

Good luck!

Game address:  1D6mfWsHMSynTaZYWheenE5x9cZitPbJQ4

[1713967670]

1713967670

[finkleshnorts]

this is absolutely insane. Watching

[nimda]

SUB! I want to see where this goes

[fatigue]

SUB! I want to see where this goes

Post thief! 

[molecular]

interesting... I know this guy and he buys a new Porsche from time to time. He does it like this: He goes to the dealer and tells him: "Look, I want this Porsche here, can you make me an offer. You have exactly one shot. If it's low enough, I'll buy the car here and now, if it's too high, I'll just leave.". He always get a good price.

So I guess people will make exactly one bet, putting the transaction into the last possible block.

There might be some speculating on a very fast block and put their bet in the block before, but that's unlikely, because the gains will be quite low (only the 0.1 BTC having been bet already by OP or other guys with the same idea).

So the strategy is clear: grow very large balls and put more than anyone else in the last possible block.

Interesting.

[SgtSpike]

The end is drawing near...  A free 10 bitcents to anyone with some balls. 

[finkleshnorts]

Not me, sarge.

[SgtSpike]

At least you're honest about it.

[danieldaniel]

No offense, but I could probably make more on SatoshiDice. 
Also, I have a grand total of 0.00615448 BTC at the moment, so it would be a donation. 

[SgtSpike]

No offense, but I could probably make more on SatoshiDice. 
Also, I have a grand total of 0.00615448 BTC at the moment, so it would be a donation. 

Or you could lose more on SatoshiDice too.  This is a positive-sum game, and satoshidice takes a fee.  So technically, the payout from this is higher than the payout from SD.  Just sayin'. 

Also, I can't win.  So if you bet your 0.006 BTC, and that's the only bet I receive, then you win it all.

[finkleshnorts]

do it daniel!!!!!!!!

[Fredyy]

This game is not really exicting https://blockchain.info/address/1D6mfWsHMSynTaZYWheenE5x9cZitPbJQ4

[finkleshnorts]

I think we need to play it again when this one is over, but this time have the deadline set like 5 blocks away. Otherwise the extra time is just a formality

[SgtSpike]

Lol, zero players!  Woohoo!

I could try a 5-blocks away game.  Doesn't seem like a whole lot of interest either way though - no one is willing to risk it!

[weex]

Wow, not a single taker. I think what made it pointless for me was there was no minimum increment. Make it a minimum 10% increment to have a valid bet, and I'll be your first player just for kicks.

[mcorlett]

interesting... I know this guy and he buys a new Porsche from time to time. He does it like this: He goes to the dealer and tells him: "Look, I want this Porsche here, can you make me an offer. You have exactly one shot. If it's low enough, I'll buy the car here and now, if it's too high, I'll just leave.". He always get a good price.

http://bigthink.com/think-tank/how-to-buy-a-car-using-game-theory

Scroll down for video.

[mcorlett]

This is a positive-sum game

Wrong. This is a zero-sum game.

[finkleshnorts]

Wow, not a single taker. I think what made it pointless for me was there was no minimum increment. Make it a minimum 10% increment to have a valid bet, and I'll be your first player just for kicks.

Then the last few seconds would be pointless

[dooglus]

This is a positive-sum game

Wrong. This is a zero-sum game.

I think he's referring to the fact that he started the pot off, but won't be playing:

I started it off with a 0.1 BTC bet though!