Topic: The Bitcoin Ladder of Wealth [Completely Redisigned] (Read 2267 times)

This is why i mentioned btctreasure.com where player who wont sell its virtual item is paid for following turns for every thransaction in game. But i see people dont understand it either thinking its only 9% (in that example) that looks small but actually 9% of every transaction sums up quickly and there is not much needed to get more money than you paid for your item. Just in following rounds people have to buy for slightly higher price than previous owner. I know someday price will be too high but its only game i know where even after item reset you still have chance to earn more money than you paid.

For example 9% of 1.922 (around 10 round) is 0.1728 (like people think will be their income) but 9% of every transaction for 10 rounds is actually 0.51 (assuming in next round item will go for the same value like previous round). And in that game there are 3 rounds player will be paid.

There is no way someone wont loose money but its like that in every gambling site. No one is going to pay for hosting, work to make game playable and in the end pay people to play his game. But when i see some comments it looks like most people are expecting something like this

Sorry Tutkarz, when I read your post I misunderstood and thought you meant the last person would get back 10% of what they paid in, as a condolence prize for losing. That inspired my idea--which I guess was also your idea without knowing it!

I think BTC4A should give 10% of his profit to each of us  

Hmm sorry but it was my idea, that user only said it with other words and values. Im not expecting payments or thanks for this but if you are already doing it, then maybe to correct person? heh
Anyway, in this type of game since gameplay is reversed nobody wants to be first because there is no profit and guaranteed loose of some money
But its good to have some different games not only gem copies.

I don't think that would have worked.  But as you say, that doesn't matter any more because you've changed the game.


Who is John?  I assume he's a trusted forum member, but I don't know who you mean.

Even if you pass 5% of every payment to John, you still stand to make a lot by "doing a runner" once the price gets high enough.  I guess that's no different than any other bitcoin gambling game though.  We always have to trust that the game's host isn't going to abscond with the coins.

I guess you could set the site up such that you never get access to the coins.  It simply tells the new buyer to send 95% of the prize to the last buyer, and 5% to John.  That way so long as we can trust John everything's fine.  Maybe have it start off at 0.01000057 or some such, so the amounts are very uncommon, and so then you can track who has paid who.  But really this sounds like overkill; people can trust you or not as they see fit.

All I have to say about the beginning is the game plays a game with my money without reaping any returns.
Other than that I have now changed the whole style of the game so, it is now irrelevant.

Next I would be happy to change the script to forward the profit to a escrow account with John if he would be so willing that way everyone knows there money is safe and then when payout time comes I will pm him an address to send to. So that way the "jackpot" funds are not able to be ran away with as you stated.

But I feel like kind of jumped ahead guess I just wanted to clear that up. I guess you can look at it as you could be paying 5% to post a picture of anything you want, and have a chance at making money.

And another point you made is it would be easy for me to simply out bet everybody every time someone has a chance at winning. Which in my opinion is somewhat my own parogative to take a chance at losing 5% but I am as previously stated adding this to a much larger site so it would not help with my goal of bringing some "publicity" to the site if nobody ever claimed to have won. Actually it wouldn't help at all because at best after 2 games of no one winning people would then be weary that even if someone did win they would not be getting paid etc. etc.

So I hope I cleared everything up for you sir, you are a very well established member of the forum and I believe if it can pass for your approval it would say a lot. So please if something is not clear or you would like some more information about anything just let me know.


--
BTC4A

The problem is, with the original scheme you don't make 0 money, you lose 31.5 money...  Here's an explanation of why.  Your addition was wrong:


Do you have access to a computer?  I find they're better at doing arithmetic than human brains:



So you have taken 255 from players, and have returned 94.5 already.  That leaves you with 160.5.
You refund the guy who paid 64, leaving you with 160.5-64 = 96.5.
Then you try to refund the guy who paid 128, but you don't have enough.  You're short by 128-96.5 = 31.5.
By a startling coincidence, this is the amount the first 6 players profited by.
To be able to refund the 128 guy you're going to have to come up with the 31.5 profit you gave to the first 6 players.

I don't understand who ghost.player1 is, or what the hidden game is.  Maybe you're gambling on satoshidice or something to try to win back the money you gave away, but you're going to have to come up with it from somewhere.  Because playing imaginary "hidden games" with "ghost" players doesn't create real bitcoins.

Maybe I'm misunderstanding your explanation somewhere.  If so, please go into more detail.  Perhaps you've realised the same, which is why you've now changed the game to one where almost everyone loses instead of almost everyone wins?

The problem with the new game is that everyone loses except for the last player, but the stakes go up exponentially, and so does the reward for you deciding to just run off with the money.  In fact, there's nothing to stop you playing the game too.  Whenever someone who isn't you has the highest rung, you can just buy the next rung at no risk to yourself.

Completely Redesigned as stated previously.

Read updated OP here https://bitcointalksearch.org/topic/m.1916147

Thank you for this.

\/ \/ \/ \/ \/ \/ \/ \/ \/ \/ \/ \/ \/ \/ \/ This was my original intention So B, kind of. New op shows new intentions.

Going up by 50% is multiplying by 1.5.

Doubling is going up by 100%, or multiplying by 2.

I didn't follow your long confusing explanation, but it sounds like your original game promises profits for the early players, and no loss for late players.  Do you see how it's impossible for someone to make a profit if nobody makes a loss, no matter how you work things?

There was a thread like this a week or two ago.  I told the OP that he was either

  a) a scammer who would refuse to refund the last player in full as promised

or

  b) very generous, and willing to take on all the losses himself

It turned out that he was

  c) mistakenly thinking that he could  refund the last player without taking a loss

and ended up deleting all his posts in the thread because he hadn't thought it through.

Which one are you?  

I actually like that idea a lot. I will redo the site within the next 30 minutes. heck it's worth a shot right!
Also the buy in will be .001 to start the game. I'm curious when you say goes up by 50% do you mean doubles or multiplies by 150%/1.5x

I will be doing it that way with the low buy in. And will update the op with new information

OR....

Each time it is purchased the price goes up 50%, but the previous owner only gets back 95% of what they put in. The last person holding the gem (after random reset or 24 hours of no one buying it) gets the whole pot (what they paid, plus 5% of every payment before them--quite a big payout).

That would turn the whole game upside down and make the end the goal instead of people trying to not be the last one to buy.

I wonder when you will run out of money
I see most people do this common mistake thinking last paid item is house income. But it was spent already to previous owners ...

If you like to try something new i can give you an idea. maybe you could try this:
when somebody buys item its price increases by 10% but only 90% is returned to previus owner.
That 10% you can spend for a reward for person who last owned an item when it reset.

That way you have reverse gameplay than in that game for example btctreasure.com
people are loosing some money when they sell item but they are earning money when they are item owners after reset. This creates situation when people want to have an item and dont want to sell it.
I dont know if i am clear enough, if not i can explain it more.

Yes you do

Well, it looks like nobody else jumped in, so it appears to have reset itself back to 0.01.

This means I get a refund doesn't it?

That was one of the most confusing explanations yet.

Where did this hidden game and ghost player come from??

Does it mean you are running a second game (with a different name) and are using the house profits from that to provide higher-than-100% returns on the first game? (which, in your example, means the second game needs to earn 100 btc before it can pay back the guy from game 1)

https://bitcointalksearch.org/topic/m.1917524

I have a feeling I won't be trying this one out!

So everyone understands Bitcoin Gem sucks, and people try to fix it by making it more gimmicky. This is not its problem, it was gimmicky enough to begin with. It sucks intrinsically, it can't be fixed.

Welp... I jumped in to see how it pans out.

Nothing ventured, nothing gained I suppose.

Don't let me down, OP 

Op has managed to break the rules of math.
1+1 = 3 now

next step: Breaking the rules of physics.
Wanna fly? Np.

No matter how you look at it you're doing a heap of transactions taking in X, and giving out 1.5X. Given that he is promising to give back the final transaction at full value, there is zero way to make money. No matter how you swing it, you can't make money out of thin air.

I'm very curious to see how this plays out...

I will explain this tomorrow around 3pm EST time for the both of you as it will take a lot of typing and I am extremely pissed off from another thread. And do not want to get snippy with you and start some big commotion over someone else's stupidity. And I have no interest in that. So if it matters to you check back here around that time and I will ahve edited this post hopefully with everything,

Okay, So I am using hole numbers just to make it easy to show. It would in theory work with any number tho as long as the multiplier is the same.

Now allow me to explain what this means. As I do like to make this point clear. I was actualy planning on making a nice long addition to the main thread but, this is just as fine. Actually nice to see bitcoins are worth enough now people are worried about what they do with them. But that's off topic anyhow.
The last person to bet is guaranteed 128 Bitcoin at the least. So the easiest thing to do is refund the  top 2 people's money. Which means you have 255-84.5 in paid back money is 170.5
170-64=106.5
Then in order to make back the money the game plays against "ghost.player1" which bets as seen in hidden game not taking any benefit just regaining the money it invested. Which allows the "Last player" from the original game to make his money back. Then once it shows in the wallet that there is enough funds to pay the "last player" back it reopens the game to the public.

Of course your asking, BUT YOU MAKE 0 MONEY, barely break even?!?!?!?! Well, as it may be visible by the post under the OP I am not interested in profit at all at this time. Just getting the game's name out there and showing that it does what I say it does. Once we get a steady stream of users the multiplier will be reduced to 125%-135% and obviously the house will retain more money allowing for me to make a small amount of money off of it.
The game was originally made to be added to a much bigger project but I thought, the best way to get reputation is to let the world see your prototype. So this is what I have, feel free to try the bitcoin ladder of wealth, Again I personally guarantee all funds in the game.

Thanks
BTC4A

Yep, someone hasn't done the maths

This is so dumb.

Taking profits from the next one to pay the last, pyramid scheme 101.


Suddenly you need to return 20.48, but you've already used the money to pay back the last investment of 15.36. You've got a "house" cut of 5.12, but you're still short 15.36. The only way you're going to profit is scamming and not paying people back.

0.16x2=0.32
You the receive 0.16x1.5=0.24

So if I bought it at 0.16, what would it sell for?

I am willing to PERSONALLY guarantee you a return on your money from my own personal funds if nothing else. If your interested I will go inside and PGP sign this. I understand being skeptical but someone has to try it other than my beta testers

Way too rich for my blood when it could be a scam.

Sorry removed the link as I rebooted the server to allow for m last changes to be recognized.

It is now again in OP or www.Bticoinladder.com

It starts at .01 but is now at .16

Seems like it may be legit. Link? Or at least what's the starting price?

It isnt because the house collects 50% from every game which means in the end they have enough to pay back the funds.

Anything promising zero risk and 150% return is a scam - Full stop.

Not a scam at all

Awesome scam.

Next Five Players will receive 175% of their investment back!

The Bitcoin Ladder of Wealth

It's fast and simple! Click the button to buy the next rung on the Bitcoin ladder of wealth. Once you buy it, you can upload an image of your choosing to promote your self or a company. Then, wait and hope to be the last player and win the jackpot. But if your not and someone buys the next rung you will receive 95% of what you put into the game.
The House keeps 1% of all money sent to The Bitcoin Ladder of Wealth addresses and the Jackpot consists of the other 4% from all previous players.

Fast Paced
The game relies on one confirmation to open up again. Keeping your name on top is a lot of work!

Last?!?
Try and be last. It's a weired concept but if nobody plays in the 24 hours after you do, you will be awarded the jackpot.

Timely Payouts
Payouts are typically initiated after six confirmations.

Advertising
Advertise your company service and have a chance at makeing revenue while you reach a world wide audience.


CHECK IT OUT: www.Bitcoinladder.com

Note: Site is fully operational Now, The buy in is .01 to start off with. I did not set it quite as low as I planned due to tx fees (.001 tx with a .0005 tx fee is half off the price)
Some additions will be coming as we adapt to the change in plans.  Like a Live Jackpot Ticker

Note 2: Thank you to user keatonatron for the idea.