Topic: Satoshi Auction - Bid on a prize where 98% of each bid is added to the prize. - page 3. (Read 1090 times)

The fact this webpage is actually seeking to get attention by organizing a campaign and getting paid reviews leads me to see some actual commitment behind this project. I still believe this not -technically- a gambling game but it does not mean it cant be fun. I am expecting to see how all this evolves after the reviews are processed by the team of satoshi-auction.

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History of my life.
Risk management is part of gambling, trading and investments.
This is different, tho. Still, I would not be surprised if ends up being a success just by fueling greed of people.

It's not only about wallet size, it's also about risk management. Who's going to risk his entire wallet on this? That's like going all-in at 98% win chance (and winning 1.01x) in a casino: you're probably good for a while, but eventually you'll lose everything.

Yeah!  Perhaps we should agree that any new undertaking is good and it benefits the entire community of cryptocurrency lovers around the world.  However, projects in which there is no way to resolve almost the most basic issues of their functioning, especially when it comes to financial flows, of course, should be worked out to a much greater extent than the OP suggests. 

That's why I made my claim.

TBH, this is the first time I've seen a platform like this (in the Bitcoin chain) although there are some people who claim that the system implemented by Satoshi Auction has already been seen by them. The interesting thing here is about Decentralization, different from the majority of crypto gambling platforms which are usually centralized.. Although in reality users will be a bit hampered by the low scalability of Bitcoin network. Ok, let's go straight to the review.

UI/UX
The first thing I want to review is the UI/UX at Satoshi Auction, what's wrong with the UI/UX at Satoshi Auction?. For the UI, I think the interface is very plain, this is a bad thing, because it looks like a scam website that's widely circulating out there. Also, I think it would be better if we have a "Tutorial" button between the "Past Auctions" "Rules" and "About" buttons (Not everyone will understand the mechanism even after seeing "Rules").


On the "Tutorial" menu, Satoshi Auction can embed video tutorial from Youtube (you need to make the video tutorial first, LOL), to make it easier for people to understand more about the process, this will support the UX.

On the Leaderboard we can see that there are 2 columns for "Participant payout address" and "Bid", it would be better to have a column for TX Hash. Well, i know we can check it manually, but as a platform that wants to provide the best UX, Satoshi Auction should be able to provide convenience.

Auction Process (Chronologically)
I saw that there were several active auctions and decided to join one that was already filled in by @Coin_trader.


It can be seen in the picture above that in a few more blocks the auction will be finished, and that's my main reason to join and break the previous bid. Then I sent $ BTC to the provided bid address, and as it's written on the main page that we have to wait to get 6 confirmations before our bid is accepted. It wasn't long before I got 6 confirmations.


But I was a bit disappointed after getting those 6 confirmations, because in fact, the auction didn't automatically (real-time) accept my bid even after getting 6 confirmations, it takes another 1, 2 or 3 blocks before my bid comes in (Can be seen in the images below). OFC this would be a problem if the auction finished in 1, 2 or 3 more blocks.

https://bitcointalksearch.org/topic/m.58627080

I have suggested here a game based on blockchain where the game isnt directly related to deep wallet but Is more related to luck on blockchain and smart moves (likewise you have around the time of "one block" to decide to play the game, moreover there Is a limit of expense...)

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Coming back on topic, the game Is serious extreme since there no limit. I like the idea , from a certain point of view Is "Amazing"... But the end of the game Is always the same since this Is not "ability" or "luck" based game but .... wallet size game

You have a valid point about the length. But this is meant to be a bidding war game, isn't it? So without a tiny bit of bidding war, it cannot be a proper review.
And if you pay attention, all the people bidding in game 32 are from the campaign, so it's not that far from bitbollo's "take a group of friends" thing

I really like the sarcasm here, But take consideration that the game is in the early development stage and open source so everyone can check the code that’s why they have a game review program launch. This game can be trusted depending on the outcome in the future. Give em a chance to prove themselves.


It’s not necessary a friend. It can be use as competition game with other member that you made some argument or challenge in the public. There’s a lot of scenario like this that person A challenge person B on something they believe is right like who holds most asset or something.  

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I still can’t give a feedback on this game since each game is so long to end especially when you enter on a bidding war. Whose bidding on game 32?  

This is my review for Satoshi Auction (part of this campaign).

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Chapter one: some thoughts while exploring the website and the game.

First contact: looking up the rules and also a little into actual and older games. And the first bid.

I will not say much about the UI, such a game doesn’t really need a too sophisticated one, still, a nicer UI (i.e. more colors, maybe some animation) should make the website more appealing for the potential players.
...But maybe it’s already in the ToDo list. For now it looks more like a proof of concept than actual place for gambling/having fun.

The rules are not clear.
There’s “the prize” and there are bids. But:
* maybe I need one more coffee, but I needed to read the rules twice to see that all the bids (OK, 98% of them) become part of the prize, being added to ther starting 10k satoshi
* it’s not clear what could be the minimum bid, and I would not be surprised some will try to send even amounts smaller than the dust transaction; it could help to state a minimum
* it doesn’t state what happens if I make a bid, then I send again from the same address (is it added to my bid or is it another one / is the input that matters or the address?); this should be cleared, else some may try and abuse this (with or without success, equally bad) -- LE / update: from following the game, only the inputs are counted as bids; somebody has tried to deposit a small amount from same address and it was not added to his max bid // this clearly needs to be stated
* deadline is not clear – is it the last block when I can send or it’s the last block when it has to be taken into account. That’s 6 blocks difference, if I understood it right.
* what is “confirmed block height”? - one more thing that would be needed into the documentation: a clear definition of terms (I understood later, you work with current actual block height–6 to address the 6 confirmations, still, I recommend documenting better).
* Since the closing times for a game were getting close to an end, I was afraid to bid (because of not 100% clear block rules); luckily somebody else's bid was about to get confirmed and I waited to bring the (too) generous time blocks increase. Then I've made my bid.

Second day and following the game...

* I am not sure how can somebody win this game against one or more determined opponents. Of course, it’s good for the bank, as fees, but maybe a hard limit could spice up the game. Maybe even a hard limit as time, not as block number (just imagine if we’d play for time… my first confirmation for my first deposit came after ~45 minutes )
* after the first counter-bets people are already complaining that each new bet makes the game too much longer and I agree, it kinds spoils the fun, maybe the blocks increase after each bid should be lowered?
* since we cannot realistically expect people bid really big amounts, maybe the 6 blocks confirmation is a bit of overkill… just saying…
* I think that my (first) bid was credited only after 7 confirmations, but maybe I didn’t read the (block) numbers right
* automatic refresh of the auction page could be nice, at least after a confirmation of a related deposit is detected.
* I think that even a smaller bid prolongs the game with 144 blocks. I strongly believe that this is a bug, not a feature.
* I've made some bids on another games too, I see no good reason bidding more and more and making game 32 end forever.

Third day

* Game 32 has ended, expectedly, I've lost 
* My other games ended and my strategy paid off, I've shared the win with somebody else instead of fighting for it. The coins soming in have unconfirmed parent, maybe this could be optimized.

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Chapter two: something between an actual review and conclusions

The website looks more a proof of concept than the actual game. The UI needs to be nicer. The documentation lacks clarity and also some things are missing (eg minimum amount to bid or what happens attempting to make smaller bids than the current max or when attempting to "add to a bid").

The gameplay is simple, but it can last forever, especially between determined players with big wallets. I guess that this is the aim, but I don't know if this will actually ever happen.
For now the game is somewhat boring and the lack of adrenalin may not make it appealing enough for the gamblers (and if it's so for small ones, the big ones won't come either). It's nice to try to win, but it can easily become a game of "who give up first or forgets to bid more". I advise fine tuning and decreasing the times in a way or another.

Also a determined person could just try to collect all the new games as long as there’s not too much interest from the potential players. Hence I think that there should not be so many new games or, I don't know, something to be done to limit the use of this game as some sort of (fat) faucet.

Unless some big change is done in the gameplay I fear that there won't be too many players willing to bid more than the house's prize, hence for now it looks like the house is always losing. Not good for the owner.


PS. I could add images and say what the others also said in the days while completing this, but imho that doesn't make much sense, so I stop here.

Try the sister site for this: Coinballer - An open-source multi-player Bitcoin gambling game.

It needs vanity. SatoshiA...........onion for instance.

After the game, one friend is rich and the others are broke How to lose your friends 101.

here too, there could always be the problem of a whale.
you organize yourself with other players (perhaps a multi-signature portfolio) and you are sure you have a large portfolio to play with.
but then, I wouldn't see the use-case in such a game.
...
I take a group of friends and we compete to see who has the most money to spend on a game? I don't know it's sound seriously boring to me ...

I believe Coinballer.net offers a similar experience to what you described. Coinballer is a game developed by the same creator as Satoshi Auction and shares many similar features, but it features private games with predefined opponents. It's gameplay is similar to Satoshi Auction, with the main difference being the ability to set up private games.

Coinballer - An open-source multi-player Bitcoin gambling game

Hey,
Would you mind sharing a screenshot of the error you're getting ? Becz Im able to access that section here without any issues.
Maybe try clearing your browser cookies and open the page again. If it doesnt help, try using it from tor browser.

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We also got an .onion link for satoshiauction.
ecs6fq5ykx3r2nelreevlxgx2qbqk5c7kofnti7fbs72zncnaa3rkrqd.onion

Actually, I had not thought about it. It could be a good solution.
Also, there is also another possibility, but it would be more complex, what about creating rooms where only people within a determinate range of holdings could access (0.001-0.01, for example).

To enter those rooms, one could provide a xpub as proof of holdings, those would be secret to other bidders or players. The only problem would be privacy, though, but I think it could me mitigated by using a secondary wallet or by mixing.

Why do I get "Internal Server Error" when choosing past auctions? I know there weren't any but it should at least redirect to an empty section instead of throwing an error.

I feel like this auction is not a game of skill, nor chance, but a game of endurance.

Situation 1: the prize is big and you want it, but OP also wants it. You check the game every day before going to bed and add a dust transaction if you're being outbid. Op does the same, but automatically using a script. Is there a way to win this? Probably not.

Situation 2: you play against another live player with no scripts or bots. You both keep doing the same thing outbidding each other for a month. Ultimately, it will come down to who gets into some real life problems first. Who gets sick, gets into a car accident, drunk, high, gets stuck at an airport, at work, at school and forgets to make the bid that day.

Yeah, I'm sure whales from all over the world will be super excited to just transfer their entire stash to a wallet controlled by some anonymous guy who previously posted fake and nonsensical stuff on his "about me" page. And the best he could offer to escrow was BTC0.05 (for all the rounds and games), which didn't even happen.


How's that escrow coming along, OP?

My first thought was this too but whales will have more pressure to place huge bets on game like this because there might be another whale with greater money that can eat his money too. I doubt that a whale will abuse this kind of game because the back fire of this game abuse to there money will be massive when another huge whale target them. This is an auction game which usually played with deep pocket money due to the nature of the game.

This game will be good for those whale crypto holders on social that wants to compete to each other. They can use this game to beat each other and proved who's the bigger whale. I believe those people is the main target of this game.

The solution to the abuse that you mention is to allow user to create a private room which only invited players can bid on the auction that they made. This way they can limit whales to enter the game.

I've seen this concept before, but for real items (say a new TV) and in that case the last bid for x minutes wins. In this case, the prize itself increases with every bid and that makes it very different.

As they say: "There's always a bigger fish"! The whale who wins a few small auctions by bidding 10 Bitcoin may win a few times, until a whale with 20 Bitcoin takes his 10 Bitcoin.

It's understandable that you wouldn't want to participate in a game that has the potential for abuse. However, it's important to note that both SatoshiAuction and Coinballer appear to be in the early stages of development. This means that they may still be in the process of addressing issues such as potential abuse and implementing safeguards to prevent it. Well, at least the dev is off to a good start by acknowledging the game's shortcomings and working with the community to make it better! Here's hoping he can follow through and implement some effective safeguards. After all, no one wants to play a game that causes more headaches than fun.

I didn't like this offer. When from the very beginning of the description of this game, it immediately becomes clear to everyone that there are many options for abuse. Well, for example, the fact that everyone doubts whether a certain whale will receive all the money in the end. And there are a number of complaints about the rules of the game and their absence.

Of course, with such a development of the game, there can be no question that BTT users will take such a project seriously and will actively participate.

I agree with what you have said.
It seems that the opinions and suggestions that you have given are quite good if they are really implemented by the manager.
At least with what you say, if it is indeed done by the management in the future, it will make a user with a small amount of money not worry and not afraid that the website is being abused by whales to make their own profit.
That way the website can be reached and used by anyone, even people with little money can still use it because not all crypto users have enough money.