Ok so I thought I would give this site a go and put in .2 BTC yesterday. .1 for BTC to hit $750 by years end and one for $1000 for years end. Well after seeing MtGox go above $750 today I started thinking, does this bet not close until Dec 31 11:59pm still? Well the answer was right their on the site and I go on with my business thinking I just turned .1 BTC into .2 BTC, instead I only have .0995!!! Tonight I received an email from betsofbitcoin telling me the bet was canceled by them.
Here it is:
One of your bets at Bets of Bitcoin has been canceled. We have determined that a major event related to the statement happened and this justified a change in deadline. Your bet has been placed after the updated deadline, therefore canceled and refunded. Details are below:
Statement: The Price of Bitcoin will reach $750 before the end of 2013
Your side: Agree
Your bet amount: 0.10
Reason: Threshold passed on 11/18
What does this mean(I made my bet last night, way before it shot up to 750)? Has this happened to anyone else? I am new to their site, but this doesn't sit well with me. I feel like they can just cancel a whole statement whenever they want because they only returned .0995 to my account which now makes me have to deposit more into the site. This is total BS> I guess it is more frustrating that they didn't give me my full refund for something THEY canceled.
Topic: Is betsofbitco.in shut down? (Read 765 times)
There was another thread on this that for some reason I cannot find, I'll add it if I do.
But basically betsofbitcoin hasn't been too well tended of late (as you noticed). Coinjedi who is its main presence on this forum hasn't been on since September. So I would advise caution.
I've used and enjoyed betsofbitcoin quite a bit, I love how the winners don't have to pay a fee, unlike some other sites, and how those that propose a bet get a commission, but I'm starting to get worried about the BTC I have tied up in bets there myself.
But basically betsofbitcoin hasn't been too well tended of late (as you noticed). Coinjedi who is its main presence on this forum hasn't been on since September. So I would advise caution.
I've used and enjoyed betsofbitcoin quite a bit, I love how the winners don't have to pay a fee, unlike some other sites, and how those that propose a bet get a commission, but I'm starting to get worried about the BTC I have tied up in bets there myself.
It is not written "500" but "300".
but its system is if you touch this figure 300$ the bets ends and brokers work for next not the same
It is not written "500" but "300".
now bets going for 500$ I think I have this bet on reddit you can check this and 300$ is already won many days ago
I don't think that it should accept new bets because it is already won ...
But almost noone disagree with that, so even if you bet, and get paid out, it is not worth it
But almost noone disagree with that, so even if you bet, and get paid out, it is not worth it
Quote
The MtGox price of bitcoin will reach $300 USD before the end of 2013
The price of bitcoin will be exchanged for $300 USD or more at any time before 12:00am January 1st, 2014. It need not hold for any period of time, bet closes as soon as it hits $300 or at the end of the time period.
In the event that MtGox does not exist anymore, a site moderator from betsofbitco.in will determine which exchange's data we use.
Info
Opening date: March 27, 2013
Bet deadline: Dec. 4, 2013 end of day Eastern Time
Event date: Jan. 1, 2014 end of day Eastern Time
Category: Economics
Total agree bets: 15.19
Total disagree bets: 1.57
Total weighted agree bets: 13178.313
Total weighted disagree bets: 4813.593
The price of bitcoin will be exchanged for $300 USD or more at any time before 12:00am January 1st, 2014. It need not hold for any period of time, bet closes as soon as it hits $300 or at the end of the time period.
In the event that MtGox does not exist anymore, a site moderator from betsofbitco.in will determine which exchange's data we use.
Info
Opening date: March 27, 2013
Bet deadline: Dec. 4, 2013 end of day Eastern Time
Event date: Jan. 1, 2014 end of day Eastern Time
Category: Economics
Total agree bets: 15.19
Total disagree bets: 1.57
Total weighted agree bets: 13178.313
Total weighted disagree bets: 4813.593
http://betsofbitco.in/item?id=1417
It is still possible to add bets. What will happen?
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