BTC Pile - 110% return + 5% guranteed if you tweet with (100+ followers) - page 12.

poncrypto

member

Activity: 112

Merit: 10

Thanks for the kind words.

Bitcoin network is megaslow comparing to Doge which is almost instant... I dislike these longs bitcoin blocks Sad

Confirmation times will definetly need to be improved in the future for bitcoin. I also don't think it is the game that is slowing it down. I noticed similar effect with litecoin which is slower then doge... ofcorse with bitcoin its x10.

Rehan

newbie

Activity: 20

Merit: 0

Just curious, why do some blocks take so long -- is it just a random occurrence or does this game stress the bitcoin network's ability to handle transactions?

Great game, than crytopon!

poncrypto

member

Activity: 112

Merit: 10

Quote from: PangPang on May 04, 2014, 04:21:34 PM

Quote from: poncrypto on May 04, 2014, 09:22:45 AM

If you are sure their edge is only 1% just roll the dice and if you lose double your bet and keep doing it... you will eventually win
http://en.wikipedia.org/wiki/Martingale_(betting_system)

It looks like you have misunderstood martingale lol.
Instead of "you will eventually win", it should be "you will eventually lose all your money".

Search for "Gambler's ruin" and "St. Petersburg paradox" if you are interested.

Yes this is true

The odds are highly against you in the end in the casino gambling games.

In this sort of game... if your Bitcoin is stuck and you are a talented promoter and know how to pump a game.. .you can easily get people to play after you by posting on reddit / twitter / forums / trollboxes ... etc

poncrypto

member

Activity: 112

Merit: 10

Quote from: PangPang on May 04, 2014, 04:18:17 PM

Quote from: poncrypto on May 04, 2014, 09:22:45 AM

About Dice,
DICE edge is much higher then 1%. They just use other techniques to increase the income... while their edge is significantly higher then 1%.

Much higher than 1%?
The two biggest dice sites, just-dice and primedice, both have edge at 1%.
You can even find some newer and smaller dice sites (such as everydice) with slightly lower edge.

If you believe their real edge is 1% I have a bridge I want to sell you.

poncrypto

member

Activity: 112

Merit: 10

Quote from: Rehan on May 04, 2014, 05:05:52 PM

Quote from: klondike_bar on May 04, 2014, 03:05:10 PM

question: the payout currently waiting is 0.3BTC (0.33BTC return). There is 0.376BTC in the game address, shouldnt this be paid out to #35 and #36?

There's now 0.39984567 BTC in the game address but no payout for #35 or #36 yet.

Formula is (Total Deposits - Paid Deposits) - (5% of Total Deposits) = Balance

wil

newbie

Activity: 33

Merit: 0

@klondike_bar
@Rehan

5% house edge

Rehan

newbie

Activity: 20

Merit: 0

Quote from: klondike_bar on May 04, 2014, 03:05:10 PM

question: the payout currently waiting is 0.3BTC (0.33BTC return). There is 0.376BTC in the game address, shouldnt this be paid out to #35 and #36?

There's now 0.39984567 BTC in the game address but no payout for #35 or #36 yet.

PangPang

hero member

Activity: 499

Merit: 500

Quote from: poncrypto on May 04, 2014, 09:22:45 AM

If you are sure their edge is only 1% just roll the dice and if you lose double your bet and keep doing it... you will eventually win
http://en.wikipedia.org/wiki/Martingale_(betting_system)

It looks like you have misunderstood martingale lol.
Instead of "you will eventually win", it should be "you will eventually lose all your money".

Search for "Gambler's ruin" and "St. Petersburg paradox" if you are interested.

PangPang

hero member

Activity: 499

Merit: 500

Quote from: poncrypto on May 04, 2014, 09:22:45 AM

About Dice,
DICE edge is much higher then 1%. They just use other techniques to increase the income... while their edge is significantly higher then 1%.

Much higher than 1%?
The two biggest dice sites, just-dice and primedice, both have edge at 1%.
You can even find some newer and smaller dice sites (such as everydice) with slightly lower edge.

klondike_bar

legendary

Activity: 2128

Merit: 1005

ASIC Wannabe

question: the payout currently waiting is 0.3BTC (0.33BTC return). There is 0.376BTC in the game address, shouldnt this be paid out to #35 and #36?

wil

newbie

Activity: 33

Merit: 0

thx for explanation and running this cool game!

poncrypto

member

Activity: 112

Merit: 10

Quote from: wil on May 04, 2014, 07:57:38 AM

I think you should reduce house edge from 5% to 1%. That would correspond to most other btc (dice etc.) games. Or do you really think >1btc per day is needed for keeping your server up?

As more people gain money, game will become more successful!

Thank you for your suggestions but we have been running this game for more then a month and tried many things. I don't think you considered:

1. Please count how much we will make this round.... going to be close to .25BTC but if the last person deposits .30BTC ... then we make -0.05BTC
2. At 1% whats the upside for running this again and spending time? 0.05BTC upside with a potential loss of 0.25BTC ?
3. It takes a lot of time to run this and to make sure all is working smoothly as well as there are costs for advertising

About Dice,
DICE edge is much higher then 1%. They just use other techniques to increase the income... while their edge is significantly higher then 1%.
If you are sure their edge is only 1% just roll the dice and if you lose double your bet and keep doing it... you will eventually win
http://en.wikipedia.org/wiki/Martingale_(betting_system)

wil

newbie

Activity: 33

Merit: 0

I think you should reduce house edge from 5% to 1%. That would correspond to most other btc (dice etc.) games. Or do you really think >1btc per day is needed for keeping your server up?

As more people gain money, game will become more successful!

poncrypto

member

Activity: 112

Merit: 10

Quote from: btc_rocks on May 04, 2014, 05:38:07 AM

Blockchain.info wallet will work on this site and all others like it. Blockchain has a single wallet address not shared like coinebase and others.

I wonder how do they control change addresses that return the change to the single address. That is pretty good programming.

btc_rocks

member

Activity: 70

Merit: 10

Blockchain.info wallet will work on this site and all others like it. Blockchain has a single wallet address not shared like coinebase and others.

brierly

newbie

Activity: 56

Merit: 0

the website looks cool will try it out.

poncrypto

member

Activity: 112

Merit: 10

Quote from: badjacks99 on May 03, 2014, 08:16:48 PM

That makes sense, ill look into Bitcoin-Qt. Im guessing thats an offline wallet, don't know much about it. Anyhow, thanks for the quick response and the information.

Its the official wallet which you can download here, there are several you can try depending on your system resources.
https://bitcoin.org/en/choose-your-wallet

What do the other players use?

badjacks99

hero member

Activity: 1050

Merit: 502

That makes sense, ill look into Bitcoin-Qt. Im guessing thats an offline wallet, don't know much about it. Anyhow, thanks for the quick response and the information.

poncrypto

member

Activity: 112

Merit: 10

Quote from: badjacks99 on May 03, 2014, 07:46:41 PM

Just curious, is coinbase a wallet that is compatible with this site?

It would not work to my knowledge. Blockchain wallet however should work(but test with a small amount).

Maybe this is a good reason to dowload bitcoin-qt since it is better to hold your bitcoins by yourself.

badjacks99

hero member

Activity: 1050

Merit: 502

Just curious, is coinbase a wallet that is compatible with this site?

Topic: BTC Pile - 110% return + 5% guranteed if you tweet with (100+ followers) - page 12. (Read 9701 times)