If you suspect that two bets are from the same person, will you cancel the bets?
It seems that your game is open to exploitation. If I'm planning to sell 100k BTC soon, and know that the price will drop at least a little as a result, I can profit very nicely from your site by betting that the price will go down. I can even tell everyone I know and have them all place multiple 1 BTC bets with you. What do you do in such a situation?
I checked the FAQ but all I saw was that your "aren't really" worried about it.
By the way, I ran a spellcheck on your FAQ page for you:
Code:
-This is a bitcoin gambling website based on the prices from Mtgox. It allows you to bet wether the price will go up or down for a given period of time, directly with the bitcoin blockchain acting as an inteface.
+This is a bitcoin gambling website based on the prices from Mtgox. It allows you to bet whether the price will go up or down for a given period of time, directly with the bitcoin blockchain acting as an interface.
-In any case, it might happens that our bitcoin client crash or some unexpected issue but we will honnor all bets so if you happens to not get your bitcoin immediately please wait a day.
+In any case, it might happens that our bitcoin client crash or some unexpected issue but we will honor all bets so if you happens to not get your bitcoin immediately please wait a day.
-Dont trust us blindly.
+Don't trust us blindly.
-We are also working with the swedish guys from http://btcx.se/ on other projects.
+We are also working with the Swedish guys from http://btcx.se/ on other projects.
-We use the time of the transaction from http://blockchain.info/ to determine the exact second where the bet has occured, and then we use the list of mtgox transactions that is available via the http://bitcoincharts.com/ mtgox historic API to determine both the opening price of the bet and the closing price.
+We use the time of the transaction from http://blockchain.info/ to determine the exact second where the bet has occurred, and then we use the list of mtgox transactions that is available via the http://bitcoincharts.com/ mtgox historic API to determine both the opening price of the bet and the closing price.
-If your bet is expected to close at 12:00:00, we will take the price from the last trade that occured at 11:59:59.
+If your bet is expected to close at 12:00:00, we will take the price from the last trade that occurred at 11:59:59.
-We will reject the bet. It means that it will be sent back to you minus the 0.0005 BTC transaction fee the bitcoin network requires after a certain time. If the bet is egal or smaller than the network transaction fee, we will simply ignore it.
+We will reject the bet. It means that it will be sent back to you minus the 0.0005 BTC transaction fee the bitcoin network requires after a certain time. If the bet is equal to or smaller than the network transaction fee, we will simply ignore it.
-As the odds are determined by a mathematical function, if it happens that users can predict accuratly then odds given will reflect that and might seem unfair.
+As the odds are determined by a mathematical function, if it happens that users can predict accurately then odds given will reflect that and might seem unfair.
-On the contrario, if for some reason users happens to be really bad and loose most the time then we will probably have outstanding odds like 1:3. Of course it seems unrealistic that people can predict worse than random.
+On the contrary, if for some reason users happens to be really bad and loose most the time then we will probably have outstanding odds like 1:3. Of course it seems unrealistic that people can predict worse than random.
+This is a bitcoin gambling website based on the prices from Mtgox. It allows you to bet whether the price will go up or down for a given period of time, directly with the bitcoin blockchain acting as an interface.
-In any case, it might happens that our bitcoin client crash or some unexpected issue but we will honnor all bets so if you happens to not get your bitcoin immediately please wait a day.
+In any case, it might happens that our bitcoin client crash or some unexpected issue but we will honor all bets so if you happens to not get your bitcoin immediately please wait a day.
-Dont trust us blindly.
+Don't trust us blindly.
-We are also working with the swedish guys from http://btcx.se/ on other projects.
+We are also working with the Swedish guys from http://btcx.se/ on other projects.
-We use the time of the transaction from http://blockchain.info/ to determine the exact second where the bet has occured, and then we use the list of mtgox transactions that is available via the http://bitcoincharts.com/ mtgox historic API to determine both the opening price of the bet and the closing price.
+We use the time of the transaction from http://blockchain.info/ to determine the exact second where the bet has occurred, and then we use the list of mtgox transactions that is available via the http://bitcoincharts.com/ mtgox historic API to determine both the opening price of the bet and the closing price.
-If your bet is expected to close at 12:00:00, we will take the price from the last trade that occured at 11:59:59.
+If your bet is expected to close at 12:00:00, we will take the price from the last trade that occurred at 11:59:59.
-We will reject the bet. It means that it will be sent back to you minus the 0.0005 BTC transaction fee the bitcoin network requires after a certain time. If the bet is egal or smaller than the network transaction fee, we will simply ignore it.
+We will reject the bet. It means that it will be sent back to you minus the 0.0005 BTC transaction fee the bitcoin network requires after a certain time. If the bet is equal to or smaller than the network transaction fee, we will simply ignore it.
-As the odds are determined by a mathematical function, if it happens that users can predict accuratly then odds given will reflect that and might seem unfair.
+As the odds are determined by a mathematical function, if it happens that users can predict accurately then odds given will reflect that and might seem unfair.
-On the contrario, if for some reason users happens to be really bad and loose most the time then we will probably have outstanding odds like 1:3. Of course it seems unrealistic that people can predict worse than random.
+On the contrary, if for some reason users happens to be really bad and loose most the time then we will probably have outstanding odds like 1:3. Of course it seems unrealistic that people can predict worse than random.
