Author

Topic: idea for a new coin (Read 377 times)

sr. member
Activity: 252
Merit: 250
April 05, 2014, 10:33:43 AM
#1
start at a value (say 0.01) then double each block

block 1 - 0.01
block 2 - 0.02
block 3 - 0.04
block 4 - 0.08
block 5 - 0.16
block 6 - 0.32
block 7 - 0.64
block 8 - 1.28
block 9 - 2.56

each block is worth the same number of coins (0.567 bitcoin).

however, if we quantumly bet a block on Satoshi Dice.  then we are only risking 0.567 bitcoins.  if the block we lost is above 6 we lost money, if it is below 7 we lost

if we win, each block is now worth double (1.12 BTC), if we lose, we must reshuffle the block chain

so if we lost block 9, our quantum block would be down to 0.28 bitcoins
if we lost block 8, our quantum block would be down to 0.425 bitcoins
if we lost block 7, our quantum block would be down to 0.496 bitcoins
.. etc..

so basically by betting 100% of our money, we will either double are money, or lose fractionally.

it's a win win  Grin


lets examine the worst case scenario where the quantum block is worth only 0.28 Bitcoins

then we bet again the 0.28.  and win, we get back to where we were before Shocked

if we lose, then we will only accept a fractional loss

50% if it is the final block, 25% the previous, so u can see where having a large number of blocks than 9 is totally worth it
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