I tried something similar with a 0.001BTC buy-in, and nobody joined.
Micgoossens runs free prediction games, and got 155 entries in the most recent one.
I don't think you'll find anything close to 50 participants willing to pay 0.1BTC.
Topic: smart contract (btc) that pays out winning bet in price prediction game? - page 2. (Read 385 times)
March 31, 2019, 04:13:46 AM
March 31, 2019, 04:05:36 AM
Yeah I was thinking the idea through. Some thoughts, not about the contracts bit.
Cost
0.1 might limit participants
0.01 if you get 10 times the people will be the same prize.
Community thoughts on this advised to be sought
Price guesses
The should probably a guess at fixed range instead of a set price say 3500 to 3549
Other thoughts
Allowing multiple entries would enable someone who wanted to bet 0.1 to have the same odds as in the higher roller version
Rules set and guidance notes
Need some rules and guidance around what if a blank space wins, how do you determine the winner and when etc.
Perhaps on a blank, it goes to the next highest entrant, that might encourage a few extra higher bets with a big "luck" range
I was only thinking escrow tbh, I don't know much about smart contract except my million nothing tokens on ether somewhere.
Cost
0.1 might limit participants
0.01 if you get 10 times the people will be the same prize.
Community thoughts on this advised to be sought
Price guesses
The should probably a guess at fixed range instead of a set price say 3500 to 3549
Other thoughts
Allowing multiple entries would enable someone who wanted to bet 0.1 to have the same odds as in the higher roller version
Rules set and guidance notes
Need some rules and guidance around what if a blank space wins, how do you determine the winner and when etc.
Perhaps on a blank, it goes to the next highest entrant, that might encourage a few extra higher bets with a big "luck" range
I was only thinking escrow tbh, I don't know much about smart contract except my million nothing tokens on ether somewhere.
I also thought of the range but we are still thinking for best rules etc
I maybe would think closest to a price like for example I choose 7000 than between a determined number let us say 20 "still thinking what would be good" nobody can choose anything between 6980 and 7020 or so, maybe higher number?
cause of-course many chose later on because its not fun to get someone a dollar above your price, certainly not when there is some @stake from your own pocket.
and a blank never can win if the closest to it wins...
if 0.1 is to high then maybe 0.05 or so? cause the option to make a pool is still their and its the same thing ...
also I don't know is it best one player one guess or could we allow more guesses from a single person? its stays the same and its better for the price pool of-course ...
still everybody keep the idea's coming
THX and sure its a good idea from 600watt
also we can ask a good forum member to HOLD the send BTC, maybe for a game like this one will do it for free, cause its all that goes in goes to the winner
March 31, 2019, 03:55:12 AM
Yeah I was thinking the idea through. Some thoughts, not about the contracts bit.
Cost
A - 0.1 might limit participants
0.01 if you get 10 times the people will be the same prize.
Community thoughts on this advised to be sought
Price guesses
B - The should probably a guess at fixed range instead of a set price say 3500 to 3549
Other thoughts
Allowing multiple entries would enable someone who wanted to bet 0.1 to have the same odds as in the higher roller version
Rules set and guidance notes
Need some rules and guidance around what if a blank space wins, how do you determine the winner and when etc.
Perhaps on a blank, it goes to the next highest entrant, that might encourage a few extra higher bets with a big "luck" range
I was only thinking escrow tbh, I don't know much about smart contract except my million nothing tokens on ether somewhere.
Cost
A - 0.1 might limit participants
0.01 if you get 10 times the people will be the same prize.
Community thoughts on this advised to be sought
Price guesses
B - The should probably a guess at fixed range instead of a set price say 3500 to 3549
Other thoughts
Allowing multiple entries would enable someone who wanted to bet 0.1 to have the same odds as in the higher roller version
Rules set and guidance notes
Need some rules and guidance around what if a blank space wins, how do you determine the winner and when etc.
Perhaps on a blank, it goes to the next highest entrant, that might encourage a few extra higher bets with a big "luck" range
I was only thinking escrow tbh, I don't know much about smart contract except my million nothing tokens on ether somewhere.
A - Uh no....
B - Maybe it's better to go for set price or closest to it.
March 31, 2019, 03:47:27 AM
Yeah I was thinking the idea through. Some thoughts, not about the contracts bit.
Cost
0.1 might limit participants
0.01 if you get 10 times the people will be the same prize.
Community thoughts on this advised to be sought
Price guesses
The should probably a guess at fixed range instead of a set price say 3500 to 3549 (preset slots)
Other thoughts
Allowing multiple entries would enable someone who wanted to bet 0.1 to have the same odds as in the higher roller version
Rules set and guidance notes
Need some rules and guidance around what if a blank space wins, how do you determine the winner and when etc.
Perhaps on a blank, it goes to the next highest entrant, that might encourage a few extra higher bets with a big "luck" range
I was only thinking escrow tbh, I don't know much about smart contract except my million nothing tokens on ether somewhere.
Cost
0.1 might limit participants
0.01 if you get 10 times the people will be the same prize.
Community thoughts on this advised to be sought
Price guesses
The should probably a guess at fixed range instead of a set price say 3500 to 3549 (preset slots)
Other thoughts
Allowing multiple entries would enable someone who wanted to bet 0.1 to have the same odds as in the higher roller version
Rules set and guidance notes
Need some rules and guidance around what if a blank space wins, how do you determine the winner and when etc.
Perhaps on a blank, it goes to the next highest entrant, that might encourage a few extra higher bets with a big "luck" range
I was only thinking escrow tbh, I don't know much about smart contract except my million nothing tokens on ether somewhere.
March 31, 2019, 03:14:04 AM
Smart contracts are a thing of Ethereum. Bitcoin can work with smart contracts only on a side chain. RSK is a smart contract network created for the Bitcoin network. https://www.rsk.co/
Not sure what else is available when it comes to smart contracts and bitcoin.
Not sure what else is available when it comes to smart contracts and bitcoin.
March 31, 2019, 03:07:52 AM
I can't help with the smart contract but would suggest that the number of participants be increased and the entry price lowered. So it appeals to more people.
entry price can be lowered by participants themselves. you can team up with as many members as you wish and form a pool. if, for example 2 participants form a pool then their entry is not 0.1, but 0.05 for each. when 10 members form a team then it is only 0.01 btc.
March 31, 2019, 02:58:53 AM
I can't help with the smart contract but would suggest that the number of participants be increased and the entry price lowered. So it appeals to more people.
March 31, 2019, 01:46:54 AM
dear forum members,
I would like to start a betting game within this forum. a simple price prediction game about the price of btc end of the year. whoever wants to participate needs to pay some fraction of btc. winning bet takes it all. usually an escrow would be needed to collect the btc of the participants and later pays out to the winner. but since btc is programmable money I rather not rely on an escrow but on a smart contract that:
-controls the btc address that the betting game participants are using to pay their fee
-recognizes what the price is on a certain exchange at a certain time (bitstamp $ price on dec 31st 2019)
-recognizes which bet is closest to actual price
-transfers the btc to the winner automatically
is that possible? if yes, how complicated? whom can i ask to write it? how can I be sure the programmer is not scamming me/us?
plan is to make it as expensive as 0.1 btc to place a bet. for those who don´t want to risk that much it is allowed to for a pool (for example 10 members pay 0.01 and form a pool that can place a bet) my aim is 50 bets minimum, so the winner will collect 5 btc.
thank you
edit:
some think that an entry price of 0.1 btc to too high. the idea is that members could team up and form a pool. a team devides the entry price within themselves. if 10 members form a pool it lowers their individual entry for a bet 10x. they would only invest 0.01 btc. if that is still too much they can find more members to form an even bigger pool.
I would like to start a betting game within this forum. a simple price prediction game about the price of btc end of the year. whoever wants to participate needs to pay some fraction of btc. winning bet takes it all. usually an escrow would be needed to collect the btc of the participants and later pays out to the winner. but since btc is programmable money I rather not rely on an escrow but on a smart contract that:
-controls the btc address that the betting game participants are using to pay their fee
-recognizes what the price is on a certain exchange at a certain time (bitstamp $ price on dec 31st 2019)
-recognizes which bet is closest to actual price
-transfers the btc to the winner automatically
is that possible? if yes, how complicated? whom can i ask to write it? how can I be sure the programmer is not scamming me/us?
plan is to make it as expensive as 0.1 btc to place a bet. for those who don´t want to risk that much it is allowed to for a pool (for example 10 members pay 0.01 and form a pool that can place a bet) my aim is 50 bets minimum, so the winner will collect 5 btc.
thank you
edit:
some think that an entry price of 0.1 btc to too high. the idea is that members could team up and form a pool. a team devides the entry price within themselves. if 10 members form a pool it lowers their individual entry for a bet 10x. they would only invest 0.01 btc. if that is still too much they can find more members to form an even bigger pool.
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