Thanks. Where is your FAQ?
Topic: Bitcoin Prophet (Read 633 times)
Hi, I have a question about the winnings payout of bitcoin prophet. From the rules page at http://bitcoinprophet.com/:
- All winning predictions are paid at a multiplier of 2X your Bitcoin prediction submission from the index menu less a .0105BTC transaction fee.
- All winners are paid from the pool of losers submissions in a "zero sum game"
I can't figure out how these 2 statements can be consistent. What if there was just a single bet on any given event, let's say I bet 1BTC that the BTC price was going to go up., and nobody else bet that day. If the price did go up, would I win 2x my stake = 2BTC (minus the fee), or would I just win my stake back' since there are no losers' submissions?
- All winning predictions are paid at a multiplier of 2X your Bitcoin prediction submission from the index menu less a .0105BTC transaction fee.
- All winners are paid from the pool of losers submissions in a "zero sum game"
I can't figure out how these 2 statements can be consistent. What if there was just a single bet on any given event, let's say I bet 1BTC that the BTC price was going to go up., and nobody else bet that day. If the price did go up, would I win 2x my stake = 2BTC (minus the fee), or would I just win my stake back' since there are no losers' submissions?
Hi thanks for your interest in the site hopefully this helps answer your question:
Here's an example: If you make a prediction at .25 btc and you are correct you would receive .50 (.25 X 2) - .0105 for a total payout of .4895. Bitcoin Prophet earns profits from the fees only in a zero sum game. See the faq on the site for more information on periods of low volume.
tell us more prophet what should we do
Hi, I have a question about the winnings payout of bitcoin prophet. From the rules page at http://bitcoinprophet.com/:
- All winning predictions are paid at a multiplier of 2X your Bitcoin prediction submission from the index menu less a .0105BTC transaction fee.
- All winners are paid from the pool of losers submissions in a "zero sum game"
I can't figure out how these 2 statements can be consistent. What if there was just a single bet on any given event, let's say I bet 1BTC that the BTC price was going to go up., and nobody else bet that day. If the price did go up, would I win 2x my stake = 2BTC (minus the fee), or would I just win my stake back' since there are no losers' submissions?
- All winning predictions are paid at a multiplier of 2X your Bitcoin prediction submission from the index menu less a .0105BTC transaction fee.
- All winners are paid from the pool of losers submissions in a "zero sum game"
I can't figure out how these 2 statements can be consistent. What if there was just a single bet on any given event, let's say I bet 1BTC that the BTC price was going to go up., and nobody else bet that day. If the price did go up, would I win 2x my stake = 2BTC (minus the fee), or would I just win my stake back' since there are no losers' submissions?
Spam!
Post 5! 
Mining CHNCoins like crazy ;-)
Alt coins is the future along with BTC ;-)
Alt coins is the future along with BTC ;-)
BTC and LTC is the future! But I don't know if I believe altcoin is. Feels nice to be able to solo mine CHNCoin and get 88 coin chunks though :
Mining CHNCoins like crazy ;-)
Alt coins is the future along with BTC ;-)
Alt coins is the future along with BTC ;-)
Tell us more mister prophet 
Hello there what do you think about the altcoins? Have you checked CNC out?
what do you think about the altcoins? Have you checked CNC out?
Hello Everyone!
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