Topic: Bitcoinduit.com - Two Week Deposits: ฿ 823 - Thanks For Playing! - page 5. (Read 6791 times)

Haha.. A friendly user sent this one to my PM.. For shame!

That is perfect!

Ok, so instead of a 50/50 split, the Host could decide to dilute both the house and host fees? I'm ok with that - as long as the reduction is evenly split between the Host and the House.. We are partners, after all.

It would look like this:

As is 50/50 50% to the Host, 50% to the House.

Host decides to give 25% of the pot to the last player in, and the remainder 37.5/37.5 is split between the Host and the House.

Is this correct?

Regards,
Jonathan

The same way that bitcat.ch works.
The person with the last deposit before the game ends gets the jackpot.

It would be neat if the host could decide what percentage of the leftover pot(after house fees, if applicable) goes to the final bidder. That's how I interpreted his statement, anyway.

That's a great idea, Dragonlord.

How would this theoretical jackpot work?

I would like an option to choose a percentage that would go to a jackpot.

I would add it to my games.

And even if others wouldn't, what harm is there in having the option?

I had no idea that the pot was split with the host at the end. That's the kind of thing that should be included on the site, hehe. I know I know, "work in progress".

I really do appreciate your timely responses. I think this will turn into something great.

Actually, right now the house favors the people Hosting games - the round Host can set fees above the house 2% deposit fee, up to 10%, and pocket that from each deposit as they happen.

Half the pot at the end of the round is split 50/50 with the Host. If there's enough feedback to support it, we can add a feature to allow for 50/50 split with last bet in. That's a good idea.. Should that be a feature? I wonder if the Hosts would really want to give up 50% of the pot at the end of the game? Maybe they would because there'd be more deposits, and more deposit fees streaming into their wallet..

Hmm..

I'd love to see some sort of incentive to keep these games going once they start slowing down.

If, say, half of the pot goes to the last bidder, I'd bet the house would make more money.

Because right now the house gets the entire leftover pot, right?

We'll be making it easier to understand very shortly, and we do need to give better context to the game setup options. Looks like you already got paid, though, so I don't think you're really complaining lol.

Thanks!  To the people who are playing lowballers, my apologies, i did not realize that 110% meant 2.1x instead of 1.1x nor a 2% fee would be added on top of my game.  Therefore to clarify, it is 2.1x and a (5+2)% fee.

Thanks! I just noticed your 5% fee (2% to the house and 5% to you = 7%) on the second deposit got locked, fixing now. You should see a small tx come in shortly.. Work in progress..

Number of deposits for each game is now listed on the Tables page.

http://www.bitcoinduit.com/game/viewRoundSet.php

Regards,
Jonathan

Its been awhile since I started one of these, back when spreadsheet games were all the rage. I started a new round that returns 110% of the original bet with a 5% fee.  The min/max is 0.1/1.0 BTC.  Its located at http://www.bitcoinduit.com/game/viewRound.php?id=Lowballers  If anyone would like to try it out, it JUST started, and hopefully will cycle through for awhile.

To pigki, the site so far seems great.  Its smooth with a very simple interface.  Kudos for making it, I like it a lot.

The fee you set at the beginning of the round is the % you get as host whenever a new deposit is made in your game. In your case, 4% of each deposit is automatically paid to you when a new deposit is made, for each deposit that's ever made in your round. We will probably change this to payout at a threshold, but for now it's more interactive to just pay the tx fee for any amount.. 0.0005 tx is worth rapid testing.

Regards,
Jonathan

Hey, excellent response. The more transparent this can be, the better! So 10% of the original deposit + 2% of each further deposit goes to the pool if there are two or more investors?

You should include the number of deposits as a statistic on the front page. That's one of the first things I like to know before I get into a flip game!

Also, I'll be making a couple more deposits into my Cheapskates game soon, if any lurkers want to try this out without risking much (0.1 minimum, 0.3 maximum)! http://www.bitcoinduit.com/game/viewRound.php?id=Cheapskates

I received a private message and thought I should share with everyone to clarify how depositing and refunds work.

PM:

"Just wanted to let you know that I LOVE your bitcoinduit platform! I've never invested so much money into a project without a background. I trust you'll build up your reputation.

However, I would suggest that you let the round creator know that 2% will always go to Bitcoinduit when they create the round. I didn't see that anywhere.

Anyway, keep up the great work! Do you hang out on IRC or anything like that?"


Thanks! We've put a lot of time into it, and it's been a great exercise in understanding how to work within the constraints of Bitcoin. I hope it is well received!

FYI, to start a game, effectively 10% of the host deposit gets placed into the "fee pool", and as you saw with your 2 Bitcoin deposit, the "pot" is B 1.80. I need to put a bunch more information on there, but the 10% really makes no difference to the first depositor, as if they get a double, the fee is effectively paid by the next 'investor' down the line. Furthermore, if there are NO bets in 24 hours or how ever many hours are set by the Host, the full amount is refunded. Once more people deposit into your hosted game, you receive a fee that you've set in the creation of the round (called "host fee").

The coolest part is really that we host the instant payout mechanism for you, which is a great way to keep these types of games moving along quickly.

Regards,
Jonathan

DNS fixed.

The site still doesn't load for me.