CoinBomb.com has just launched! - page 9.

CoinBomb

full member

Activity: 179

Merit: 100

Hi suryc,

It's kind of a difficult concept to get your head around at first, no problem!

you are mostly correct yes (except the final profit portion that goes to us is less - after fees, refunds, instant wins etc) - we also do not get to keep the last bomb value as it has been returned backwards to the previous owner (and also the price you see is the price to buy - it hasn't actually been bought).

If a group bomb is not 100% funded by new shareholders when the timer runs out, they are refunded. (the owner shareholders lose out)

On purchase (of a full bomb or shareholding) you have the chance to win your purchase price back instantly (your purchase still goes through as expected, so you can get the instant win of 100%, then get another 100%+35% of your purchase back on sale)

Hope that helps! any more questions, feel free to ask some more!

suryc

sr. member

Activity: 298

Merit: 250

Play2Live pre-sale starts on January 25th

This is a real interesting concept, and sounds like a fun game, but I would just like to make sure I understand logistically what happens...

Is it correct that there is a spread between the multiplier and the interest and that spread is kept by the site runners (presumably some portion goes to funding the instant win jackpot)?
For example, if I buy a bomb for 1 BTC that has 35% interest and 1.5x multiplier, it will be re-listed for sale at 1.5 BTC and when/if it sells I will get 1.35 BTC and the .15 BTC goes to coin bomb? And, the coin bomb gets the BTC from the exploded bombs as well?

Sorry if that's an idiotic question or if the answer is obvious, but I read the FAQ and this forum and I didn't think it was clear. Maybe I need some sleep.

CoinBomb

full member

Activity: 179

Merit: 100

ahh! Now I understand correctly. Our competition is not a secret - there's plenty of action to go around.

There is a huge difference between 50% (your number) and 40% (their number). infact, 51% is loss making with those rules. (With BTC anyway - Did you take into account fees? litecoin is a loss maker from the very start)

We advertise externally (at our cost), to bring in more players. With margins that thin, we couldn't do that.

macros

newbie

Activity: 33

Merit: 0

It is in use at www.satoshidiamond.org the site is still in starting phase, i do not know if it will survive.
They use 40% at the moment.

>We do not, and will not.
Ok, that a clear answer and not claims my math is wrong ^^

And don't get annoyed: Discussion = free advertisement bumps for your thread.
Although you have now provoked me to post the link of a competitor trough your "is not in use" statement Wink

CoinBomb

full member

Activity: 179

Merit: 100

Your system is not in use anywhere else, and would not work in practice im afraid. I've given you an example of exactly how another site uses consolation prizes. We do not, and will not.

Regarding your last point - you are correct, he will win whatever value is in the pot at the time. It could be 1 BTC, it could be less. Most purchases are currently covered by the instant win pot.

macros

newbie

Activity: 33

Merit: 0

There is a big difference in the approach:
You calculate with 50% of players profits per step
I calculate 50% of last bomb buyers payment as example (this is the extreme where you can go without making loss)
Of course you would set it to something lower to make profit per bomb sell and not only profit per bomb round.
My pot is the total profit you have made before the last player would get the 50% refund.
If you continue your calculation, you will see the 17% rising. This is because the 0.1 are missing completely in your way of calculation and make still a big part of the 0.225.

Doing it like I mean (last buyer gets <=50% back) would still leave previous owners with profit =gain*their buying price and would lower the risk for buyers.
Of course the lower risk should mean, that consolation-price-bomb payers have lower or no chance to get the free jackpot.
A player which buys a Bomb at 1 BTC will never have the chance to get 100% return even if he is the last buyer, because your jackpot never got nearly that high.

CoinBomb

full member

Activity: 179

Merit: 100

I'll re run the figures for you... Tongue

1) value 0.1 - no profit returned here.
2) value 0.1 * 1.5 = 0.15 - returned 0.1*1.25 = 0.125. consolation 50% of 0.125-0.1 = 0.0125
3) value 0.15 * 1.5 = 0.225 - returned 0.15*1.25 = 0.1875. consolation 50% of 0.1875-0.15 = 0.0125+0.01875 = 0.03125
4) value 0.225 * 1.5 = 0.3375 - returned 0.225*1.25 = 0.28125. consolation 50% of 0.28125-0.225 = 0.028125 + 0.03125 = 0.059375

Consolation pot total = 0.059375 on a bomb value of 0.3375 = actual return, 17%

That's with a "50%" consolation pot. Its usually way less than that.

Thanks for the suggestion, but like i said, we'd rather have every player the chance at 100% return rather than 1 player at the end of the chain get a small amount back. Plus, if you're worried about the risk, the group bombs are an excellent way to spend whatever you are comfortable with.

macros

newbie

Activity: 33

Merit: 0

Thank you for the answer, but I know my math Wink

A "No, we wont" would have been more honest.
An Example: starting at 0.1, multiplier 1.5, gain 25%, consolation prize 50%:

Code:

pot is 0.10000000 Bomb is at 0.10000
if game ends here repaying 0.05000000 Win is 0.05
pot is 0.12500000 Bomb is at 0.15000
if game ends here repaying 0.07500000 Win is 0.05
pot is 0.16250000 Bomb is at 0.22500
if game ends here repaying 0.11250000 Win is 0.05
pot is 0.21875000 Bomb is at 0.33750
if game ends here repaying 0.16875000 Win is 0.05
pot is 0.30312500 Bomb is at 0.50625
if game ends here repaying 0.25312500 Win is 0.05

And so on.
A consolation prize below 50% would give out higher profits, the higher the Bomb gets.
For example: 20% consolation+10% to instant Win Pot would leave you with 20% +0.05 BTC Win.

Why not try it? You could launch a consolation test bomb after the carpet bomb has stabilized.
Btw: I like the group bomb principle too

CoinBomb

full member

Activity: 179

Merit: 100

Macros : The consolation prize on other sites doesn't work like that. You get 30% of the profit made. so, 30% of 25% = 7.5% of each round - its barely worth it - we initially started with a consolation prize, but moved to an instant win system. that way you can get your entire purchase price back instantly, then on sale, get it back AGAIN with the profit. (upto 200% profit on special bombs)

Also - we don't keep all of the payment on the last round. Each payment goes backwards to the last owner.

macros

newbie

Activity: 33

Merit: 0

Your site looks good.
One suggestion:
Implement some sort of consolation prize.

For example a bomb with 1.5 multiplier and 25% gain could have a consolation price of 30% for the last player,
meaning he gets 30% of the coins he paid back. This would leave you with 20% of the last price as profit (+part of the initial value) and nobody would have to risk everything.

CoinBomb

full member

Activity: 179

Merit: 100

We're using this one as a test. Currently we have it set to if the timer goes below 80% of its starting value it will convert across to a group bomb (so, at about 19 hours on a standard bomb) - this gives people the chance to grab it as a single buyer, and lock in 100% of the profit if they wish.

j_gillard

newbie

Activity: 35

Merit: 0

Loving the group bomb, what makes it change to that though?

BitcoinMoxy

member

Activity: 119

Merit: 100

BitcoinMoxy.com

Quote from: CoinBomb on May 24, 2013, 03:34:24 PM

its kind of a similar idea, but I think we've taken it to the next level

Think so, too. Looks a little more exciting

Tempting... Cheesy

CoinBomb

full member

Activity: 179

Merit: 100

The Carpet Bomb has just converted to a group bomb! Get your share quick!

j_gillard

newbie

Activity: 35

Merit: 0

Much better than Bitcoingem imho, more choice and being able to see the timer is fun.

thomassie12

newbie

Activity: 13

Merit: 0

all these things are the same just like bitcoingem and such :p they look fun though

dermo

sr. member

Activity: 336

Merit: 250

Quote from: CoinBomb on May 26, 2013, 09:17:19 AM

Quote from: dermo on May 26, 2013, 09:03:29 AM

Quote from: CoinBomb on May 26, 2013, 08:48:25 AM

Quote from: dermo on May 26, 2013, 08:39:52 AM

Ok then I've bet 0.5 BTC on the Carpet Bomb but still cost 1.531125 oO, I'm missing something ?

https://blockchain.info/fr/tx/1a5f5efda3074287b8af5b3b1aa2db69c632194fc449c3eb50c31e2403853b4f

The Carpet Bomb has not converted to a Group bomb yet - It will do so if the timer runs down far enough. We have updated the site to make it clearer which bombs are group bombs when trying to grab one. We will look into other ways to make it more obvious too.

I saw the 0.5 BTC come in and will refund it to you as soon as it has confirmed in the block chain.

Just saw it after your update => NOTE: This is NOT a group bomb. Grin

Thanks for the refund Wink

I think I need a beta tester or dumb dude statut with all problems I have encounter Cheesy

Refund has been sent, please check your wallet.

it's ok !

CoinBomb

full member

Activity: 179

Merit: 100

Quote from: dermo on May 26, 2013, 09:03:29 AM

Quote from: CoinBomb on May 26, 2013, 08:48:25 AM

Quote from: dermo on May 26, 2013, 08:39:52 AM

Ok then I've bet 0.5 BTC on the Carpet Bomb but still cost 1.531125 oO, I'm missing something ?

https://blockchain.info/fr/tx/1a5f5efda3074287b8af5b3b1aa2db69c632194fc449c3eb50c31e2403853b4f

The Carpet Bomb has not converted to a Group bomb yet - It will do so if the timer runs down far enough. We have updated the site to make it clearer which bombs are group bombs when trying to grab one. We will look into other ways to make it more obvious too.

I saw the 0.5 BTC come in and will refund it to you as soon as it has confirmed in the block chain.

Just saw it after your update => NOTE: This is NOT a group bomb. Grin

Thanks for the refund Wink

I think I need a beta tester or dumb dude statut with all problems I have encounter Cheesy

Refund has been sent, please check your wallet.

dermo

sr. member

Activity: 336

Merit: 250

Quote from: CoinBomb on May 26, 2013, 08:48:25 AM

Quote from: dermo on May 26, 2013, 08:39:52 AM

Quote from: CoinBomb on May 26, 2013, 08:26:17 AM

Quote from: dermo on May 26, 2013, 07:05:24 AM

Quote from: CoinBomb on May 26, 2013, 06:53:02 AM

ok guys, some BIG CHANGES just uploaded!

The site now uses PUSH notifications. That means bomb updates/drops will be near instant. No more missing bomb drops, and needing to refresh.

NEW BOMB : GROUP BOMB

We all know these type of games have a ceiling - the value of the bomb just gets too high, and no one buys. NOT ANYMORE.

Players pool their funds together to buy the bombs, so (for instance) 3 players can buy at a level, and all get the same % profit on their investment. Check out the FAQ for more details.

Bombs start as normal, and then become group buys as they get too high. Watch the Saturation / Carpet bombs.

no info on your FAQ about GROUP BOMB

It should be there now, if it is not try pressing ctrl+f5 to clear cache and refresh.

Ok then I've bet 0.5 BTC on the Carpet Bomb but still cost 1.531125 oO, I'm missing something ?

https://blockchain.info/fr/tx/1a5f5efda3074287b8af5b3b1aa2db69c632194fc449c3eb50c31e2403853b4f

The Carpet Bomb has not converted to a Group bomb yet - It will do so if the timer runs down far enough. We have updated the site to make it clearer which bombs are group bombs when trying to grab one. We will look into other ways to make it more obvious too.

I saw the 0.5 BTC come in and will refund it to you as soon as it has confirmed in the block chain.

Just saw it after your update => NOTE: This is NOT a group bomb. Grin

Thanks for the refund Wink

I think I need a beta tester or dumb dude statut with all problems I have encounter Cheesy

CoinBomb

full member

Activity: 179

Merit: 100

Quote from: btclordet on May 26, 2013, 08:46:45 AM

Cool idea.
I see a lot of bitcoin sites with a similar template - what is the template?

Twitter's Bootstrap http://twitter.github.io/bootstrap/

It is a very common front-end web framework and offers a lot of flexibility in how it is used.

Topic: CoinBomb.com has just launched! - page 9. (Read 14071 times)