Topic: OPENING DAY firstbankofbitcoin.com A DOUBLE DEPOSIT GAME - page 3. (Read 3264 times)

It is gambling.  It is not a ponzi.

Ponzi is described as a system where promoters try to minimize withdrawals by offering new plans to investors, often where money is frozen for a longer period of time, in exchange for higher returns. The promoter sees new cash flows as investors are told they cannot transfer money from the first plan to the second. If a few investors do wish to withdraw their money in accordance with the terms allowed, their requests are usually promptly processed, which gives the illusion to all other investors that the fund is solvent.
Typically, extraordinary returns are promised on the original investment and vague verbal constructions such as "hedge futures trading", "high-yield investment programs", or "offshore investment" might be used. The promoter sells shares to investors by taking advantage of a lack of investor knowledge or competence, or using claims of a proprietary investment strategy which must be kept secret to ensure a competitive edge.


I clearly lay out the EXACT rules on the site.  There is NOTHING hidden and nothing secretive!  The game is simple.  Deposit a dollar, if someone deposits $2 behind you in 24 hours, you get paid out double your investment.  So on and so forth.  The game ends when one person is not followed by another depositor and he loses.  It is gambling.

In Vegas, they clearly lay out the rules of Blackjack.  I can bet $100, if I win, I get $200 and double my bet.  If I lose, I get $0 and lose my entire bet.  It is spelled out clearly.

I am doing the same thing.  If someone decides to deposit into the game, they have 24 hours to hope (gambling) that someone deposits behind them.  They are welcome to find others to deposit or hope that someone does but NO ONE places a deposit without knowing the two possible outcomes. 

1.  They will double their bet
2.  They will lose their bet

The reason this game is SO much better than a Ponzi or gambling site is that if we have 10 players, 9 will double their money and only one will lose.  If you don't want to play, you don't have to. I built the game because I myself have fallen for two Ponzis and EVERYONE or LOTS of people were screwed.  So, my game is different in that only one person loses.  If I was depositing then I'd never have one happy customer in which case the game would go nowhere.  The reason I think the game will go well, is because the people who are winning will come back and bring friends.  If I have 9 happy people and 1 sad, that's a good game.  9 People doubled, 1 lost and he knew fully as he deposited that he was taking a chance (a gamble) that he could double or lose.

wtf this is such crap, its a ponzi not a new game its simply a ponzi dont cover it up

an aside:  the biggest worry that i have with these games, is that the operator could be rigging his own games by depositing all the levels, and just wait for a sucker to come along to play.  for the operator, there is no loss and there is no way to prove this is not happening...

I hope this isn't happening, but this is always a fear in these types of games.

i do like the disclaimers you have.  it is very transparent to the rules and the games.  keep on operating above-board and you might sway me.  but for now, its still too ponzi-like for me.

all the best!  if you can get another URL, that would be great!

Good point... and I agree.  I tried to sell the name but no takers because of implications involved.  I actually looked into getting an insurance to make use of it like a bank and no takers so I had to use it.  The site clearly looks nothing like a bank website and it is obvious to any person who arrives there.  If I can find a better name I'll use it. 

i despise that you use the name "Bank" when you are nothing at all like a bank.  must be a rule about that right?

See... a happy customer!  And Ms. Bit huh...?  Not bad!

MotorBoatLLC:

I'm actually starting to like you... keep on bumping my friend.

Again: YOUR CASINO GAME      15 people play    8 people lose, 7 people win

My BANKING GAMBLING GAME   15 people play    14 win Double their investment and 1 person loses it all. 

One of these things is not like the other, one of these gambling sites sucks and doesn't belong.

When you deposit at http://firstbankofbitcoin.com, you either get double (as soon as the next person deposits) or lose if no one deposits in 24 hours.  HOW IS IT A SCAM IF I JUST SAID EXACTLY HOW IT WORKS.  Jeez my game sounds like those games the ponzi scum in Vegas try and pass out as "gambling".  Like blackjack, I mean if I play a hand for $100 I could either LOSE my $100 or Double it!  Wait, that's exactly like my game.  So, I'm just like Vegas? Ponzi scum?  RowRowRowYourBoatBTC was right all along.

Can confirm I got paid.

Sure everyone trust a post thats starts with

NOT A SCAM LOL

MAYDAY MAYDAY RED FLAG

NOT A SCAM - LOL..

http://firstbankofbitcoin.com is fun and you always have 24 hours to try and find someone to deposit after you!  It is gambling because you are making a gamble as to whether someone else will play.  That's it.  You could even be your own backup, so if time was running low, place the next deposit, which would pay yourself double, and get a new 24 to find that next depositor.  The options are endless.

If you check the logs page firstbankofbitcoin.com/logs you can see the current game log and that wallet (1N3ffHwR3nJiiaAm7DSHh9Zuy9JCi7gyMj) will be used for only this game. If you want to see the last game log you can click the log archive above the current log on that page.  I'll just move them to the archive as each game finishes.
Because the 1st game was kinda a trial run there was some "wierdness"  so the log is by no means perfect (as I intend going forward). I accidentally was using a wallet with other addresses and a non related payment came through and the next payout went from another address.  Also, to get the game rolling I was the second player (announced so that Player 1 got a freebee) for sending 0.001, he was sent 0.002 when I deposited 0.0025. When the next deposit of 0.00625 came in, I did not pay myself so their was some weirdness to that first log. I think I've got it all under control. (But I will make a mistake again sometime soon, I know it)

So, if you followed Game 1, it ended at Level 5 and the person who deposited 0.0157 lost because no one deposited 0.04 in 24 hours.  But the loser was paid a "payout" of
0.006 (this was a bit more than the rules stipulate) which I did just to be nice and as a thanks for playing the first game.  He should have received 0.00295 as a payout for no one depositing the LEVEL 5 amount of 0.04

Going forward, I expect perfect logs so that you can see I indeed am only trying to run a fun game of chance.  I just wanted a game where many can win and only one person will lose.  I understand a few people want the rounds to go deeper which is something I'm looking into.  I personally like the idea that everyone doubles.  But we could go further if the payout for each level was 1.5x instead of 2.

If the game does well, I could have a few different types and maybe switch them up.  Example...   GAME 1 would be a 2x Pay with the Payout as we are playing now.
Could also do a GAME 2 where it would be 1.5x and no payout allowing the game to go much deeper.  So, please let me know suggestions.  Someone else at chat had a good idea I'm throwing around and that would be allowing anyone at anytime to deposit anywhere, but I'm playing with this because it would have to be hidden... For example if 5 different people had deposits in LEVEL 1 at 0.001 so if anyone ever came and deposited 0.0025, the first 0.001 would get 2x and the 4 would still wait and the 0.0025 would wait for a 0.00625 so he could get paid 0.005.  Problem here is what if someone deposits 0.1 and no one was at 0.04, if that was shown, someone would just deposit there and immediately be paid.  Then people would think it was me. So, I'm kicking around that too.

As I have stated continually.... I have no reason to scam you... I've already ran into two myself and that is why I was trying to build a game where there is little to no chance of that.  That's why it pays so quickly and everything will be in the logs and you should be able to click chat at anytime.  Either I or the incomparable Ms. Bit will be there to help.

Any questions-comments-suggestions-constructiive critisism, (large red fonted SCAM comments are a waste of time), please let me know.

C'mon by and see where we are at!

CURRENTLY WITH 21 HOURS LEFT ON THE BOMB CLOCK we are waiting for a deposit of 0.00625 which will pay the person who deposited 0.0025, his double of 0.005.
Then, that 0.00625 will be "in the hole" and waiting for 0.0157--

**** By the way, if you have a group of buddies and like me, have one particular "asshole" of that group, a funny trick would be to get 3 of you together to conspire against him.  For instance where we are now. Friend 1-2-3 decide Friend Ahole could use a lesson.  So F1 deposits 0.00625 and F2-0.0157 which pays F1 double and then F3 deposits 0.04 and F2 is paid double and then Ahole deposits 0.1 and F3 is paid double and then Ahole waits for (insert bullshit name here ... could be F1-F3 or F4) although the joke is there is no one planned there.  Joke may backfire if Ahole finds another depositor or random user deposits but hey, then all 4 of you doubled and if not, Ahole has to go after F1, F2, and F3... that's probably not a fight he will win.  Warning--- do not try if Ahole is a gun owner.

Enjoy

Cmon guys, I don't want the bomb to blow up my screen

http://firstbankofbitcoin.com/play.html

Site has updated with my deposit albeit a bit slowly.

Anyone gonna take a bite? Last one went to round 5

No reason to think that yet. I checked last round and all payments were made except the final guy which is how it works.

Btw, I just deposited. Lets see how things go.

So this is a scam ?

I would like to see the old address and if all the people involved got paid!

SCAM
SCAM
SCAM
SCAM
SCAM
SCAM

Hey this is a SCAM I would not use this your will lose you coins

SCAM
SCAM
SCAM
SCAM

Will the round automatically restart when the timer is over in 8 minutes?

Lord, glad that ended....

Still LEVEL 5, a few hours left!

Alrighty!