[ANN] DoubleMybits.com | 140% Payout |4% referral Bonus

[NarC]

Website for sale

[redsn0w]

@NarC , so are you telling me this is not a ponzi ? Are you sure ?

[NarC]

@NarC , so are you telling me this is not a ponzi ? Are you sure ?

It's a gambling site, based on timing, as any other gambling sites you have a risk. I used my real bitcoin talk account, as I hope to run this site for a long time and make some money from the fees, as all dice/blackjack/betting sites do.

After the first 2 weeks, I will release stats, that way I can have predictable percentages of return, and loss, just like dice sites. If you choose, to give me negative trust, I understand. But I like the idea of this kind of gambling site, and will run it either way.

[CrackedLogic]

 
How does the site work?
You can make a deposit between 0.1 BTC and 1.0 BTC, payments are made using future users deposits at a rate of 140%, once the weekly game has ended one final payment will be made to the amount of users there are enough bitcoin to cover, the last investors of each week take the highest gamble.
 

Still a ponzi

[NarC]

 
How does the site work?
You can make a deposit between 0.1 BTC and 1.0 BTC, payments are made using future users deposits at a rate of 140%, once the weekly game has ended one final payment will be made to the amount of users there are enough bitcoin to cover, the last investors of each week take the highest gamble.
 

Still a ponzi

Due to the fact that "payments are made using future users deposits" ? So a dice site that pays out using past users deposits is not?

[CrackedLogic]

 
How does the site work?
You can make a deposit between 0.1 BTC and 1.0 BTC, payments are made using future users deposits at a rate of 140%, once the weekly game has ended one final payment will be made to the amount of users there are enough bitcoin to cover, the last investors of each week take the highest gamble.
 

Still a ponzi

Due to the fact that "payments are made using future users deposits" ? So a dice site that pays out using past users deposits is not?

Leaving this here, not in a mood to argue

A Ponzi scheme is a fraudulent investment operation where the operator, an individual or organization, pays returns to its investors from new capital paid to the operators by new investors, rather than from profit earned by the operator.

en.wikipedia.org/wiki/Ponzi_scheme

[NewJerseyJess]

Just made a small deposit, will update this post when it's paid. (if it gets paid, I know most of these are scams.)

Edit: I was paid: https://blockchain.info/tx/100990e9bd941fc260760b6811f050881089ba30f813b77196a16a56bb76850a

[ncsupanda]

Why are all of the transactions hard coded in? Why are they not updated automatically on the front page?

[NarC]

Why are all of the transactions hard coded in? Why are they not updated automatically on the front page?

May I ask why your assuming they are hard coded in?

The home page is querying our db to get recent transactions. If you place a order, then refresh the homepageyou will see it update.

[NarC]

Update: I would like to propose a offer to multiple trusted users that offer escrow, I will be sending this message to a few people, but if anyone has any ideas of people that might be willing to do this, let me know.

I would like to find a escrow, that will manage our "fee" wallet. Every time someone does a deposit, the 4% fee will get sent to that wallet, and they can hold on to it till the end of the month. I will also add 2 bitcoin to that address that can stay in there for good. That way there will always be a large bulk of bitcoin in escrow letting users now the service will be covered if there was ever a security breach, also to prevent any concerns of scamming.

[bombardir]

what is the minimal deposit? 0.1 btc or 0.01 btc? on site i see some transactions of 0.01btc.

[traxx187]

Update: I would like to propose a offer to multiple trusted users that offer escrow, I will be sending this message to a few people, but if anyone has any ideas of people that might be willing to do this, let me know.

I would like to find a escrow, that will manage our "fee" wallet. Every time someone does a deposit, the 4% fee will get sent to that wallet, and they can hold on to it till the end of the month. I will also add 2 bitcoin to that address that can stay in there for good. That way there will always be a large bulk of bitcoin in escrow letting users now the service will be covered if there was ever a security breach, also to prevent any concerns of scamming.

i can escrow you if you like i will also deposit to the site if you would like a honest 24yr old smart member pm me back would love to help out

[koshgel]

 
How does the site work?
You can make a deposit between 0.1 BTC and 1.0 BTC, payments are made using future users deposits at a rate of 140%, once the weekly game has ended one final payment will be made to the amount of users there are enough bitcoin to cover, the last investors of each week take the highest gamble.
 

Still a ponzi

Due to the fact that "payments are made using future users deposits" ? So a dice site that pays out using past users deposits is not?

Dice sites have a house edge so mathematically they are winners in the long run.

You are offering 140% of payout + taking fees. This is unsustainable for a long duration and will lead to collapse and high probability of remaining funds being stolen.

Plus we don't know if you are using alternate BTC addresses to place and take funds for yourself. There is no way to verify. No PROVABLY FAIR method exists for ponzi.

[angeloanggam]

Be very careful about sites like this... Try to remember what happened to CryptoDouble.