Double Trouble (Instant/Automatic) w/ Partial Refunds! [12hr rounds] - page 23.

elements

full member

Activity: 182

Merit: 100

Quote from: Patrón on June 17, 2011, 08:18:26 AM

It's not a ponzi scheme as the scheme initatior (person who started it) isn't taking an amount, only a cut.

So theoretically, only a small % is lost by the final poolee of the day, but with a chance of making a much greater amount.

Don't get me wrong - whoever wants to gamble can do so at their own risk.

BUT this guy has no means of reaching him whatsoever - no contacts on the site nor on his profile.
What if it becomes more profitable to simply shut the site down and keep the last poolee's coins?

Even the first person to participate has to risk 16.6 USD - I don't find this very attractive.

But, please play if you like it (and believe in the goodness of humankind) Wink

NothinG

hero member

Activity: 560

Merit: 500

Quote from: elements on June 17, 2011, 08:20:13 AM

Quote from: NothinG on June 17, 2011, 08:15:48 AM

If say the 10th person were the last person of the day, and they put in 512BTC then they would loose 2% (from fees) and get 509.44 back.
How is that bad?

They would have at least lost 2.56 BTC (42,50 USD @ 16.6) OR somehow the site went down and would have lost 512 BTC.

Good luck with your business!

That is how the game is setup.
If they choose to attempt to double that high, that's up to them.

No one is forcing anyone to do the exponential system like you suggest.

I do thank you for your input.

Quote from: Patrón

It's not a ponzi scheme as the scheme initatior (person who started it) isn't taking an amount, only a cut.

So theoretically, only a small % is lost by the final poolee of the day, but with a chance of making a much greater amount.

Yeah, it's just how the game is setup. To make people happy without feeling cheated.

Patrón

newbie

Activity: 7

Merit: 0

It's not a ponzi scheme as the scheme initatior (person who started it) isn't taking an amount, only a cut.

So theoretically, only a small % is lost by the final poolee of the day, but with a chance of making a much greater amount.

elements

full member

Activity: 182

Merit: 100

Quote from: NothinG on June 17, 2011, 08:15:48 AM

Quote from: elements on June 17, 2011, 08:10:15 AM

What an idotic ponzi scheme!

01 - 1
02 - 2
03 - 4
04 - 8
05 - 16
06 - 32
07 - 64
08 - 128
09 - 256
10 - 512

(this is not completly correct since I did't applied the "hosting and game" fees, which make any amout slightly smaller than mentioned)

So, basically if only 10 persons per day would participate, the 10th person had to risk 512 BTC in hopes some even bigger idiot would bring in 1024 BTC (that's only about 16.800 USD at this time). The last one either never gets his money back OR has to pay a 2% Fee which at that point would be the nice some of 336 USD.

Well, happy gaming Wink

If say the 10th person were the last person of the day, and they put in 512BTC then they would loose 2% (from fees) and get 509.44 back.
How is that bad?

They would have at least lost 2.56 BTC (42,50 USD @ 16.6) OR somehow the site went down and would have lost 512 BTC.

Good luck with your business!

NothinG

hero member

Activity: 560

Merit: 500

Quote from: elements on June 17, 2011, 08:10:15 AM

What an idotic ponzi scheme!

01 - 1
02 - 2
03 - 4
04 - 8
05 - 16
06 - 32
07 - 64
08 - 128
09 - 256
10 - 512

(this is not completly correct since I did't applied the "hosting and game" fees, which make any amout slightly smaller than mentioned)

So, basically if only 10 persons per day would participate, the 10th person had to risk 512 BTC in hopes some even bigger idiot would bring in 1024 BTC (that's only about 16.800 USD at this time). The last one either never gets his money back OR has to pay a 2% Fee which at that point would be the nice some of 336 USD.

Well, happy gaming Wink

If say the 10th person were the last person of the day, and they put in 512BTC then they would loose 2% (from fees) and get 509.44 back.
How is that bad?

elements

full member

Activity: 182

Merit: 100

What an idotic ponzi scheme!

01 - 1
02 - 2
03 - 4
04 - 8
05 - 16
06 - 32
07 - 64
08 - 128
09 - 256
10 - 512

(this is not completly correct since I did't applied the "hosting and game" fees, which make any amout slightly smaller than mentioned)

So, basically if only 10 persons per day would participate, the 10th person had to risk 512 BTC in hopes some even bigger idiot would bring in 1024 BTC (that's only about 16.800 USD at this time). The last one either never gets his money back OR has to pay a 2% Fee which at that point would be the nice some of 336 USD.

Well, happy gaming Wink

NothinG

hero member

Activity: 560

Merit: 500

Quote from: ibisy70 on June 17, 2011, 07:55:43 AM

What is it? not sure i understand.

Basically:
You put in 1BTC, and wait for someone to put in enough to Double 1BTC.
This keeps going until the game is over.

ibisy70

member

Activity: 88

Merit: 10

What is it? not sure i understand.

NothinG

hero member

Activity: 560

Merit: 500

I admit I messed up.
I coded too much for too long, and didn't take the time to check my work; in the end, the users paid.
I am sorry for what happen, but I had other projects going on to which I had no time to spend to make Double Trouble right.

I ended up selling my script for an undisclosed amount of money.
The guy ended up creating (from what I take it) a MySQL version of what I did.
He has a better ideas for the script, and obviously a better design schema.
http://forum.bitcoin.org/index.php?topic=22279.0

Trust me, hate me; I'm sorry.

Topic: Double Trouble (Instant/Automatic) w/ Partial Refunds! [12hr rounds] - page 23. (Read 30305 times)