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Author Topic: Bitcoin Dollar Bet  (Read 815 times)
ghgr
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July 18, 2012, 05:40:45 PM
 #1

I would like to present my new project, a dollar auction http://en.wikipedia.org/wiki/Dollar_auction based on Bitcoin.
Based on the original concept, subjects 'bid' to win the pot, and he who bids the more, wins. The participants who didn't win, lose their bid.

In the original definition (and some experiments confirmed), this concept allows the pot to grow indefinitely.

In the implementation on http://www.bitcoindollarbet.com the rules are slightly adapted to the bitcoin economy, i.e:

  1) The number of players is not limited. To participate, just send 1 BTC to the indicated address.
 
  2) If the address stays more than 'n' (where 'n' is a constant, or decreasing number --> NEVER INCREASING) blocks without receiving bids, the pot is shared among the addresses involved in the last block where there was a transaction.
 
  3) The pot is not constant (contrarily to the original Dollar Bet), it increases as the address receives bids.
 
 
A bit of technical info:
  The information is extracted from the BlockChain. The counter (and the rest of information displayed on the site) is just orientative. If the blockchain.info API stops working for some time, it will only affect the displays* (which means that bids received during this time will also be considered). Once the API resumes activity, the webpage synchronises and will display, again, good information.
 
http://www.bitcoindollarbet.com
 
  *probably it will be shown 00:00:00.


P.S.: I have just seen another topic with a similar concept. Well, there are some differences:
  a) Here there is one, bigger pot.
  b) The counter restarts each time someone places a bid.

 
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opticbit
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July 22, 2012, 10:34:34 AM
 #2

add a referral program?

Set up the same thing..
http://bit.ly/btcrefs
Get more bitcoins.
ghgr
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July 24, 2012, 01:50:35 PM
 #3

Maybe in the near future. For the moment I prefer to keep it as simple as possible.
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