Topic: [Chain Game] Coin Controller ~~ easy to play, provably fair! - page 2. (Read 5846 times)

Actually, I would make more money off of each transaction if there was no resets.. since the higher the price of each coin = higher profit for each player = higher profit for me. The problem is that the prices would quickly get way too high for most people to play, since most people probably arnt going to drop several hundred $ worth of BTC on a game, especially if they havnt played before and don't already know that its legit. The price reductions dont come into effect until 48 hours of no one playing, and only occur every 12 hours after.

So essentially what would happen is everything would keep going up in price, and then basically come to a complete stand still for several days until the price is lowered enough to become affordable again, but even then it would pretty much still cut out anyone who wants to play with small amounts (say, >= 0.001 ). That would be pretty lame if you ask me

also, just to clarify, when a coin is reset, no extra profit is made for me. The majority of it is just used to pay out the previous player. The exception to this is if there is no previous player (i.e, you were the first person to buy the coin since the last reset), in which case the house keeps the bet. This rarely happens though, with the exception of the magic coin, since it has a much higher chance to reset than others (50%), but the starting bet for magic coin is also only 0.000055

What is the point of the coin reset? Just to make more money or something? Because you guys already profit from each transaction, and shouldn't the priced reduction after a certain time period take care of the coin not resetting or whatever?

I played it a couple of times, I would play more if there was no reset chance.

happy new year everyone! Looks like things are starting to pick up again!

happy holidays! Expect some improvements to the game in the early new year

turns out above issue was indeed a bet caught up in the payment glitch that happened yesterday morning. Problem solved

Do you happen to know what your bet ID was, or what the transaction ID of the bet you sent is..? (you can PM it to me)

thanks

Not at the moment yet

You should receive payment as soon as the next player buys you out. There was a glitch this morning though which was preventing bets from being confirmed properly (and paying out previous buyer). Should be fixed now though.

Can you confirm for me that you have received your return?

just controlled my first coin
edit : my coin is bought, how long i have to wait to get my return ?

No worries! Any feedback is much appreciated

looks like a potentially fun game.  Will have a look around the site when I get more time and maybe gamble a little.  Thanks for the heads up!

heh, how exactly would that work? Like a faucet coin?

There could be a "free" coin, depending on how you set it up you will get lots of visitors

Suggestions for near future updates?

No worries! Any ideas on where to get more litecoin players besides litecoin forums and the litecoin reddit?

Also, somebody won our first somewhat big jackpot! 0.14 BTC off of a 0.01 bet, not too bad.

At last! You are accepting Litecoins! Thanks a lot

Intresting thing I might aswell look deeper into this.. Too bad I don't have much BTC now :/

So I updated the rules for bet expirations a bit again, this time I think its much more fair (less risk for players).

You no longer lose your bet after 48 hours of no new bets. Instead, after the 48 hours are up, the coins price (and your bet) are reduced by 20%, and then further reduced every 12 hours after, until the coin either reaches its starting value, or is bought out by somebody. Coins will now only ever reset if triggered by a bets lucky number.

Also, now supporting Litecoins! There is two coins that can be bought with LTC. Most likely going to be adding more, and organize it a bit better (switch between BTC coins and LTC coins or something). Any feedback is appreciated

thinking about maybe adding litecoin support? Thoughts?

hey, the most likely reason is you just needed to refresh your browser cache (refreshing page couple times usually works). We just updated the entire front end this weekend, as well as fixing a number of issues.

Great weekend btw, many profits for all and several BTC spent on the site

Important rule change: There are no longer bet refunds after 24 hours. Instead, it now works like this: After 48 hours, if you were the first person in the chain (first buyer of a coin since it last reset) and no one has bought the coin, you get a full refund on your bet. However, if the chain has already started, and you are the last one holding it for a full 48 hours, then your bet is simply lost.

 The reason for this is that on the first buy, the server has the full funds sitting in its wallet, and can refund if needed no problem. Once people start buying the coin from each other, the server is just acting as a middle man, sending money back and forth, and just keeping a portion of the difference. So when a situation arises where a coin starts off at say 0.1 BTC, and then gets all the way up to 5 BTC, then no one buys for 24 hours... that money has to come from my pocket.. so I might have made say, 2 BTC profit from all the transactions, that still puts me in the negative. Something I didnt consider in my original calculations hope you all understand.