How is it possible for all Gold-Mine players to increase their investment of BTC ? surely if there are winners then there must be losers too, or am I missing something ?
JuicyBit is very complex and I needed more than a week to perfectly understand all the principle of functioning. Here is a summary:
JuicyBit is using many ratio and rules to work and to realize a possible progress:The first ratio is the number of players drawn lots per Bitcoin put a stake:
100 players per 1 BTC accumulatedThe second one is the ratio of redeemed JBits (game credits) per gain:
0.8 JBits per 0.01 BTCJBits (game credits) are comparable to a participation fee to the drawings which goes out when the players' balance drop to zero, but their role does not limit to this because every JBit allows to pocket 0.0125 BTC, thus corresponds to the 25% advertised earnings.
The Jackpot in Bitcoin is composed of the income from JBits sales after deduction of the 5 % collected by the founders for the management of the game.
95 % of the turnover is put at stake and after each draw the Jackpot is reconstituted by the new players' purchases and so on.
Contrary to the conventional lotteries requiring that all the players pay to play,
only the winners settle a proportional fee in their earnings:
Each time a player win, his JuicyBits balance will decrease at a rate of 0.8 JuicyBit for every 0.01 BTC earned. If he don't win, his JuicyBit balance will remain intact and will be used in the next draws.
The more JuicyBits you have the greater the prize is because earnings are proportionally distributed regarding the JBits balance of each winner according to a simple part calculation.
The combination of the rules and the ratio allow to purchase more JBits as those previously spent to play because
the cost of 1 JBit is 0.01 BTC but 1 JBit allow to pocket 0.0125 BTC. Then you can start to play with a minimal amount of 0.0025 BTC and to increase your JBits balance by the reinvestment of your earnings only.
As JuicyBit is able to work without a Ponzi scheme, it won't close tomorrow and I'm not seeing losers or a real possibility to lose.
A part of this post comes from my detailed explanation including a game strategy that I'm currently translating in English and it will be released very soon.
Source: JuicyBit FAQ and Terms & Condition.Please Mods don't delete this post because JuicyBit is an investment plan to support Coin2 projects and value.