Topic: HungerCoins Invest: The odds are ever in your favor. - page 9. (Read 14613 times)

Bitcoin can scale, but it takes adoption, effort, and time. If transactions soar to 100x the rate reasonable given the current adoption (as it does with the poor design used with this and SatoshiDice), everyone suffers. A simple way you could make this more reasonable would be to allow people to send multiples of 0.25 BTC instead of spamming a ton of transactions. To help the long-term scaling, companies that need the higher volumes could financially support development of such improvements (the most obvious one today being the p2p protocol needs reworking to propagate blocks reasonably).

We will be increasing the confirmations to 6 before processing within the next few hours. Thanks everyone for helping us out.

Hi Gavin,

It's an honor you visited this thread. I completely understand where you are coming from. However, that is not our intention here. I am also a programmer and I am also involved in various open source projects that helped humanity. I assure you we have the purest intentions. But as I said, I totally understand you. I guess you can deduce from my previous posts our roadmap on how to try to run a sustainable business using bitcoin. This is just to have something to start with.

I find a little disturbing, however, if you intend to tell me that bitcoin can't scale to a level when our plans will take off. I really don't know how scalable bitcoin is as of the moment. I am more into business applications now.

If you are saying so, we can always stop what we plan. If it means we can't sustain our plans for scalability reasons of bitcoin, we can always reconsider albeit a little too early. We have prepared a budget for all these and test the waters. I can always recommend to our management to stop our plans and inform the public beforehand. It was never our intention to scam people. How I wish I can tell you right now what company I'm working for. I just still can't. But it surely will remove all doubts.

For the time being, I will let Hunger Coins run and continue what we originally plan.

I hope to hear from you and more power.

Please don't play this.

If it gets popular, then it is just "use the blockchain to create a Ponzi scheme". It can scale up, using new transactions to pay a little more to older transactions made 2 or 3 blocks ago. That's is the essence of a Ponzi scheme.

If you want to test something, use the testnet.  That is what it is for.

According to my calculations, the expected return per 'bet' is 0.2511 BTC, and if you have a budget of 100 BTC to run this thing, you can expect to survive for 88000 bets (if you ignore transaction fees) or 61000 bets (if you assume a 0.0005 BTC transaction fee per payment):

>>> ((1*5.25 + 15*0.75 + 15*16*0.30 + 15*16*16*0.255 + 15*16*16*16*0.2505) / 65536) - 0.25
0.0011355590820312234
>>> 100 / (((1*5.25 + 15*0.75 + 15*16*0.30 + 15*16*16*0.255 + 15*16*16*16*0.2505) / 65536) - 0.25)
88062.34883096149
>>> 100 / (((1*5.25 + 15*0.75 + 15*16*0.30 + 15*16*16*0.255 + 15*16*16*16*0.2505) / 65536) - 0.25 + 0.0005)
61141.17251931286

Now if this could only be used to short BTC....

This is genius: All the blockchain bloat of satoshi dice combined with all the counter-party risk of BS&T!

Great, another outsourced DDoS on Bitcoin...

This is an easier way to do it:

$ ./bitcoind getbalance
$ deleted top secret bash command which uses a while loop to send 62 transactions after I received heat for it on IRC
$ sleep $((60*60))
$ ./bitcoind getbalance

I sent a single 0.25 payment and got 0.2505 back 4 blocks later.

My suspicious mind wonders whether this could be a really short-term ponzi scheme.  You get 0.2% interest per half hour.  The temptation obviously is to send thousands of these transactions.  Which is fine until they stop coming back.

sent 12 tx's. Glad to send more as needed; just didn't want to spam you.

yes.


andrew@engine:~/bin$ ./bitcoind getbalance
15.67713674
andrew@engine:~/bin$ ./bitcoind sendtoaddress 15yTy2CYLk1EEzAzUkTUR2HghPwPLWivGP 0.25
170e4775b12e371d5cefdbc2d4edca94d6f324054b75f2593d57100d0a150bdb
andrew@engine:~/bin$ ./bitcoind sendtoaddress 15yTy2CYLk1EEzAzUkTUR2HghPwPLWivGP 0.25
b91bb22d80205b6b1b55dc7ada462de415b1aad696fecd67a0859b8e11d5bfdf
andrew@engine:~/bin$ ./bitcoind sendtoaddress 15yTy2CYLk1EEzAzUkTUR2HghPwPLWivGP 0.25
e9ef6ade71bf40d1c2150a82f43b97c2ef2e19bf1c04c85ffe7fdce978574d7d
andrew@engine:~/bin$ ./bitcoind sendtoaddress 15yTy2CYLk1EEzAzUkTUR2HghPwPLWivGP 0.25
058e9f161223b1af20c17aa0e5cb49ba37644e4ccd1084c6d8553ce58bc2cc6c
andrew@engine:~/bin$ ./bitcoind sendtoaddress 15yTy2CYLk1EEzAzUkTUR2HghPwPLWivGP 0.25
badf8fc4d02f12a1cc8768b8961869a4f0b8e61145d089450aa4f567d070a9ba
andrew@engine:~/bin$ ./bitcoind sendtoaddress 15yTy2CYLk1EEzAzUkTUR2HghPwPLWivGP 0.25
7436303eb71d2041668e4d76061ae8ce8e0d6ce898b63dd88be25e74d594b0e3
andrew@engine:~/bin$ ./bitcoind sendtoaddress 15yTy2CYLk1EEzAzUkTUR2HghPwPLWivGP 0.25
a7e73ee05cca75c864f96b77d03b69cad2ca64707d1431821101b7eb0d45e3be
andrew@engine:~/bin$ ./bitcoind sendtoaddress 15yTy2CYLk1EEzAzUkTUR2HghPwPLWivGP 0.25
cfd58e3f3d48c2efe58ddc431135681ef911f530438f91686587d51a68bc8c3c
andrew@engine:~/bin$ ./bitcoind sendtoaddress 15yTy2CYLk1EEzAzUkTUR2HghPwPLWivGP 0.25
8fcfbb5cfec95cf4d21b727cb68f158dc3a8a6be5c6fb936dacb5f37ba9686c7
andrew@engine:~/bin$ ./bitcoind sendtoaddress 15yTy2CYLk1EEzAzUkTUR2HghPwPLWivGP 0.25
ab751c5c1d13f00b5bcb207f78682821eed89158b1bec936726edefca390661e
andrew@engine:~/bin$ ./bitcoind sendtoaddress 15yTy2CYLk1EEzAzUkTUR2HghPwPLWivGP 0.25
6d30c40bb6201c69e9e2e2d0dde3137497586faedfe5381bc0511ba6067b77ff
andrew@engine:~/bin$ ./bitcoind sendtoaddress 15yTy2CYLk1EEzAzUkTUR2HghPwPLWivGP 0.25
5bc82839adaab82bdd8c9e0dda832adc1f3c7a4623986bebdd6b0029cf79c315
andrew@engine:~/bin$ ./bitcoind sendtoaddress 15yTy2CYLk1EEzAzUkTUR2HghPwPLWivGP 0.25
58a35fa9b9850d36d6e0dc281b193405cd7f7a0b0ec775f930d29c88a8273f6b
andrew@engine:~/bin$ ./bitcoind sendtoaddress 15yTy2CYLk1EEzAzUkTUR2HghPwPLWivGP 0.25
cb32789d1638787e271033b1d0fa29dca6c3459f21c2509322b14433baea1a17
andrew@engine:~/bin$ ./bitcoind sendtoaddress 15yTy2CYLk1EEzAzUkTUR2HghPwPLWivGP 0.25
848bc2e4e41f0fe2fa8411bbd1061fc4ac474a4ddff41e714423ad24a77610a9
andrew@engine:~/bin$ ./bitcoind sendtoaddress 15yTy2CYLk1EEzAzUkTUR2HghPwPLWivGP 0.25
80e2d6a313945603f795c6f4bf41948bc6306a7237d3d2004db1e22883956bbe
andrew@engine:~/bin$ ./bitcoind sendtoaddress 15yTy2CYLk1EEzAzUkTUR2HghPwPLWivGP 0.25
29efd83b0fc73241b2d5f255edc04b39fcb5be5af4b3fd0758c637b74a2c2598
andrew@engine:~/bin$ ./bitcoind sendtoaddress 15yTy2CYLk1EEzAzUkTUR2HghPwPLWivGP 0.25
5a4142da38c21fe62192d786bc7d3d8e66f2fe11c5bb635cbac78c9361f18a77
andrew@engine:~/bin$ ./bitcoind sendtoaddress 15yTy2CYLk1EEzAzUkTUR2HghPwPLWivGP 0.25
dc372d34b5e96f5b7acbf5f87f76e199aca8b0bcf664eac581d0903b5aff8895
andrew@engine:~/bin$ ./bitcoind sendtoaddress 15yTy2CYLk1EEzAzUkTUR2HghPwPLWivGP 0.25
be0a9bb69eb31a86fce44e760f981b483211fa9f5d3943b235e8cc9795dc2dc0
andrew@engine:~/bin$ ./bitcoind sendtoaddress 15yTy2CYLk1EEzAzUkTUR2HghPwPLWivGP 0.25
e9ee4c7903b0ca1059efead43538834ae87046380f41fa417f8d17c0a93c2463
andrew@engine:~/bin$ ./bitcoind sendtoaddress 15yTy2CYLk1EEzAzUkTUR2HghPwPLWivGP 0.25
a44fd9da35136d189a66f09ce8bcc83c705aeccc84aef00338b239404f39097d
andrew@engine:~/bin$ ./bitcoind sendtoaddress 15yTy2CYLk1EEzAzUkTUR2HghPwPLWivGP 0.25
521979293843e4096bbf33ba39c70729cc3f0c1ace9b03921b6ac2c43cc619d1
andrew@engine:~/bin$ ./bitcoind sendtoaddress 15yTy2CYLk1EEzAzUkTUR2HghPwPLWivGP 0.25
f8ae6f91ed7cb6df64d72aea7ecb1e31d581af2652033f0a75dd42439cf5caf5
andrew@engine:~/bin$ ./bitcoind sendtoaddress 15yTy2CYLk1EEzAzUkTUR2HghPwPLWivGP 0.25
1ba01add7ee33e6c19b48df636398a0c7bb702062ddc6a524655cbc5c0577344
andrew@engine:~/bin$ ./bitcoind sendtoaddress 15yTy2CYLk1EEzAzUkTUR2HghPwPLWivGP 0.25
bddba036c0b1e8a8100ca4c24304716d7efdcd7152874f1e8802266cb5aa15b4
andrew@engine:~/bin$ ./bitcoind sendtoaddress 15yTy2CYLk1EEzAzUkTUR2HghPwPLWivGP 0.25
1776fb0ad8841458389b231c8d2f3873c7c5c61b87fb65caa00d9b29df9b6c9b
andrew@engine:~/bin$ ./bitcoind sendtoaddress 15yTy2CYLk1EEzAzUkTUR2HghPwPLWivGP 0.25
f4b2384eddc09e25645f28028f4bf7c6483a29a7d8c3a1edc4d68a3208bbe7d2
andrew@engine:~/bin$ ./bitcoind sendtoaddress 15yTy2CYLk1EEzAzUkTUR2HghPwPLWivGP 0.25
cae019f4364d38984fd84f1ef6c2198e16adbd33074e6c40daca1227594d8c01
andrew@engine:~/bin$ ./bitcoind sendtoaddress 15yTy2CYLk1EEzAzUkTUR2HghPwPLWivGP 0.25
46d9829ce1ed1f75acdfa0893922b16942013a0f2f64b5656e20831dbd7386c8
andrew@engine:~/bin$ ./bitcoind sendtoaddress 15yTy2CYLk1EEzAzUkTUR2HghPwPLWivGP 0.25
177dda5cd4c7c67848d19a57def8d2ed9836406b9b2ebbb03a1315b3e297e74f
andrew@engine:~/bin$ ./bitcoind sendtoaddress 15yTy2CYLk1EEzAzUkTUR2HghPwPLWivGP 0.25
3a2bd0b70d3d41ee2b12895da6db8bb8816c449df1f8fb36b0e25ef1dfe83d24
andrew@engine:~/bin$ ./bitcoind sendtoaddress 15yTy2CYLk1EEzAzUkTUR2HghPwPLWivGP 0.25
fbcd0a2c322cf0440788f832da808c53f5d185379bd5b7fac6780948c9280f38
andrew@engine:~/bin$ ./bitcoind sendtoaddress 15yTy2CYLk1EEzAzUkTUR2HghPwPLWivGP 0.25
f5782f16b7d43a0b1441f8d154c7412292c4564a4539498b965165ef97ab7c39
andrew@engine:~/bin$ ./bitcoind sendtoaddress 15yTy2CYLk1EEzAzUkTUR2HghPwPLWivGP 0.25
be6c993b6aa9b19a7401ef94ade6cb9a837e58cc6924dbc5dc0ca6c02627a199
andrew@engine:~/bin$ ./bitcoind sendtoaddress 15yTy2CYLk1EEzAzUkTUR2HghPwPLWivGP 0.25
121c4ed46c29e08b95591d9cf5cf30b34e88a1d955a5b6703aebd111b0a69c15
andrew@engine:~/bin$ ./bitcoind sendtoaddress 15yTy2CYLk1EEzAzUkTUR2HghPwPLWivGP 0.25
1cba72c3e876db0ed25afa6636fb1e48df71cfc1312caea65d0c2d095fdb3a46
andrew@engine:~/bin$ ./bitcoind sendtoaddress 15yTy2CYLk1EEzAzUkTUR2HghPwPLWivGP 0.25
76679e058443f2da6088bc10ab5b5bee421ced5384214ccd73909e65bea34923
andrew@engine:~/bin$ ./bitcoind sendtoaddress 15yTy2CYLk1EEzAzUkTUR2HghPwPLWivGP 0.25
bf51ac57b51eba2172b9f06dd100b56bf895cf4ccad17db32a7e7cbff310eae4
andrew@engine:~/bin$ ./bitcoind sendtoaddress 15yTy2CYLk1EEzAzUkTUR2HghPwPLWivGP 0.25
96267eadc3b9f2fb3869750e920b23af90b6d8971eb631dbaf4f5cd45fccac89
andrew@engine:~/bin$ ./bitcoind sendtoaddress 15yTy2CYLk1EEzAzUkTUR2HghPwPLWivGP 0.25
2759d7facec1347a01c084df8e5dca6b4963039bf6c4d1684b8237eef269e7a3
andrew@engine:~/bin$ ./bitcoind sendtoaddress 15yTy2CYLk1EEzAzUkTUR2HghPwPLWivGP 0.25
fec75eb406b758055654df2155d20c53bea6895d754b5c86dabf3d012148b0b7
andrew@engine:~/bin$ ./bitcoind sendtoaddress 15yTy2CYLk1EEzAzUkTUR2HghPwPLWivGP 0.25
4a1bdece6ea87e4c1b1c0cef6a9f6028f9f1faac8fad96b836594c5dbcde8e53
andrew@engine:~/bin$ ./bitcoind sendtoaddress 15yTy2CYLk1EEzAzUkTUR2HghPwPLWivGP 0.25
67fa70cf0022ae0ca26150208fd135e49077ae1d3f08e11488854cc51c136ae7
andrew@engine:~/bin$ ./bitcoind sendtoaddress 15yTy2CYLk1EEzAzUkTUR2HghPwPLWivGP 0.25
7bbdf4e63307040d1cbda5dd34135e7c946411b52be2547b957f1d48f616dfe6
andrew@engine:~/bin$ ./bitcoind sendtoaddress 15yTy2CYLk1EEzAzUkTUR2HghPwPLWivGP 0.25
8784871e913b42c22c4dcfe815b69a9b6134fb2c4d70465e480ab24167c47c72
andrew@engine:~/bin$ ./bitcoind sendtoaddress 15yTy2CYLk1EEzAzUkTUR2HghPwPLWivGP 0.25
0b286104482df19cd0bbd414f9589c7ab411a331e8054b40df7d9b20d513003f
andrew@engine:~/bin$ ./bitcoind sendtoaddress 15yTy2CYLk1EEzAzUkTUR2HghPwPLWivGP 0.25
d22e661af109b7a344c34531a6d89afb03336ceff4bb66d4efc678ea6a61e384
andrew@engine:~/bin$ ./bitcoind sendtoaddress 15yTy2CYLk1EEzAzUkTUR2HghPwPLWivGP 0.25
7533595990368f6b074c3f0dba182ddf093041f0b244d50ed0c2c507bb3e0518
andrew@engine:~/bin$ ./bitcoind sendtoaddress 15yTy2CYLk1EEzAzUkTUR2HghPwPLWivGP 0.25
558d09aac52b3d6cfb5d3c2f9ee54991db3079c023c5dfa14ed21b193f513d2f
andrew@engine:~/bin$ ./bitcoind sendtoaddress 15yTy2CYLk1EEzAzUkTUR2HghPwPLWivGP 0.25
55d54633f07388772b7903e79b3f6e526b9831eaf9a6463b0231cb19a6391d24
andrew@engine:~/bin$ ./bitcoind sendtoaddress 15yTy2CYLk1EEzAzUkTUR2HghPwPLWivGP 0.25
e6880e60db6163ce71996242aa83b0e8c1a67a3a00d8d10fad8131a35e18dd9f
andrew@engine:~/bin$ ./bitcoind sendtoaddress 15yTy2CYLk1EEzAzUkTUR2HghPwPLWivGP 0.25
d8be5a2a92f89a2d3294d9bd7fc5b3f50195c779abd4c5da9f7c80ea54f285a5
andrew@engine:~/bin$ ./bitcoind sendtoaddress 15yTy2CYLk1EEzAzUkTUR2HghPwPLWivGP 0.25
2965f52b17c733e1be2d2baae7f7fc76565abd1dd2369971e24c5d41bc0c164b
andrew@engine:~/bin$ ./bitcoind sendtoaddress 15yTy2CYLk1EEzAzUkTUR2HghPwPLWivGP 0.25
f6a91e9f070ff71bd50dd21067b136aed923ff3d9e6491a388650df03e386e88
andrew@engine:~/bin$ ./bitcoind sendtoaddress 15yTy2CYLk1EEzAzUkTUR2HghPwPLWivGP 0.25
6ede4f63debe2586caae1063a7b01bf4b6242a9fa4c16a70c27e35d3691960fe
andrew@engine:~/bin$ ./bitcoind sendtoaddress 15yTy2CYLk1EEzAzUkTUR2HghPwPLWivGP 0.25
d79542a752433d6e7ef8c077aa93c8e5cc13ba59a5f068cb7db3ee65aea8a18e
andrew@engine:~/bin$ ./bitcoind sendtoaddress 15yTy2CYLk1EEzAzUkTUR2HghPwPLWivGP 0.25
384f5e408a213e1c5313c091cca9344755f7b845a81e960c03a959113c59db45
andrew@engine:~/bin$ ./bitcoind sendtoaddress 15yTy2CYLk1EEzAzUkTUR2HghPwPLWivGP 0.25
cbad83176e6c9bbd0c294b961d34822c6a27151e4f6b12e0f0025b89bca62137
andrew@engine:~/bin$ ./bitcoind sendtoaddress 15yTy2CYLk1EEzAzUkTUR2HghPwPLWivGP 0.25
0310a0e80af81427e8443de0b1deab76c57ddf88fd3b9f27ffc79a80418caab4
andrew@engine:~/bin$ ./bitcoind sendtoaddress 15yTy2CYLk1EEzAzUkTUR2HghPwPLWivGP 0.25
dea976e96b9a16f7fbf48897d7d521be9be08ecc5adce9bc1bd428f7f9bcc0d1
andrew@engine:~/bin$ ./bitcoind sendtoaddress 15yTy2CYLk1EEzAzUkTUR2HghPwPLWivGP 0.25
1604da02728bc82bbc302407af96bf9f8bfbf274b75be6c4dec66bf1a2011256
andrew@engine:~/bin$ perl -e 'sleep 60*60;'
andrew@engine:~/bin$ ./bitcoind getbalance
15.70413674
andrew@engine:~/bin$

Signing off. Good luck everyone. I'll be back soon.

You can't lose. Never. But we can't sustain it. This is just a beta test. We have computed the budget and we believe we will last until the end of the year. We will also slowly increase the confirmation times so there will be a delay of when you will receive the payments. Right now it's 30mins. So think of it as "better than 0.2%" for 30mins. We definitely can't sustain that. We will find the balance of the best times and the market reaction. The more we delay the confirmations, the less people will join us. The less we delay it, the more we can't sustain it.

We will also be deploying some kind of lottery with big jackpots. And some kind of short term time deposits. Right now we need to gather the data that's why we have to shoulder the expenses.

Good luck. Thanks for trying it out. I hope you sent every one of them in different transactions. Otherwise, only the first one will be valid.

electrum - http://electrum-desktop.com/

I suggest you use electrum to control the transaction fees. Also, please send 0.25BTC per transaction. If you send multiple times in one transaction, only the first 0.25BTC will be considered valid. The others will be returned with 0.001 deduction.

Yes it does. but i suggest you use elecrtum so that you can control the transaction fees. It makes it cheap.

i just sent 10 x 0.25 BTC.

edit: received 10 x 0.2505 BTC

You combined sending to the address in one transaction hash. Only the first one will be considered valid. The others are invalid. Remember your ticket is your transaction hash. Only one ticket per transaction. You must send only one 0.25 per transaction.

Checking on it right now. Somehow your transactions were flagged as invalid. Sorry. Will get back to you in a while.