This interesting website has turned a bitcoin faucet into a microeconomy

derrend

hero member

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Merit: 505

Quote from: luksbit on June 15, 2016, 10:08:50 AM

This occurs a problem?
I made two deposits, one yesterday and one today, however till date no information if I won or lost

Let me know the txid's or deposit addresses and I'll take a look for you

luksbit

sr. member

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Merit: 252

This occurs a problem?
I made two deposits, one yesterday and one today, however till date no information if I won or lost

Att,

Luks Wink

cryptodevil

legendary

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Merit: 1254

Thread-puller extraordinaire

Perhaps changing the thread title might help correct the initial skepticism us jaded inhabitants of IBG had for your topic. It sounds too much like an irrelevant bit of fluff nonsense used to distract from a sketchy service.

If you focused on simply discussing the 'Risk Aversion' nature of the type of wager it is you're more likely to be able to quickly establish to readers that it isn't yet another ponzi/pyramid promotional thread.

There are a few legitimate services in IBG, but literally only a few, as in you can probably count them on the fingers of one hand if you were wearing mittens. This means they have to be adept at quickly asserting the facts which separate them from dodgy schemes and scams and getting straight to the core of the service's details is important.

derrend

hero member

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Quote from: cryptodevil on June 14, 2016, 08:07:43 AM

Actually I initially did and then after reviewing the details further came to the conclusion that it appears to be simply a betting game.

Yay!

Quote

@derrend If there are an odd number of deposits made in a round, how does the system handle the one that can't be paired up?

Line 169 in the views file takes care of that, it checks to see if the number of accounts with a non-zero balance is even, otherwise it ignores one of the records until the next round.

There are also no draw results because if two records are matched which have the same balance they are also placed back in the pot until the next round.

cryptodevil

legendary

Activity: 2240

Merit: 1254

Thread-puller extraordinaire

Actually I initially did and then after reviewing the details further came to the conclusion that it appears to be simply a betting game.

Assuming, because the code is open-source, that everything is provably fair when it comes to matching up the amounts being wagered, it would make this a legitimate gamble, albeit one where the big fish eat the little fish. Unless anyone can show that it isn't creating the pairs randomly then this doesn't qualify as a scam.

That being said, as with all centralised services, the operators could still leg it with the funds.

@derrend If there are an odd number of deposits made in a round, how does the system handle the one that can't be paired up?

rockyV

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Activity: 270

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now cryptodevil will turn your account into negative trust

derrend

hero member

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Quote from: dwyer17 on June 13, 2016, 11:04:52 PM

Arise chicken! Chicken arise! Pretty funny website haha. I'll put in the minimum deposit amount and see if anything happens.

You will lose because it's not possible for anyone to bet lower than you. ("minimum deposit") Tongue

dwyer17

full member

Activity: 199

Merit: 100

Give 'em the pickle

Arise chicken! Chicken arise! Pretty funny website haha. I'll put in the minimum deposit amount and see if anything happens.

derrend

hero member

Activity: 707

Merit: 505

Quote from: actmyname on June 13, 2016, 06:22:34 PM

So this is basically a lottery system sort of game. Kind of risky given that you don't even know how much has been invested in the game. All you have to go on is the fact that there are x other players.

You can use the results page to see the previous transaction history to get a better idea of how much you need to risk in order to win.

actmyname

copper member

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Merit: 2510

Spear the bees

So this is basically a lottery system sort of game. Kind of risky given that you don't even know how much has been invested in the game. All you have to go on is the fact that there are x other players.

Probably will turn scam at some point soon (if it hasn't already).

derrend

hero member

Activity: 707

Merit: 505

lol, it's a reference to this

Slow death

legendary

Activity: 3164

Merit: 1127

Leading Crypto Sports Betting & Casino Platform

I've never heard of this site, but honestly when I saw this I was scared, it looks like a witchcraft site.

that stick with the chicken head, it's scary, it seems who are about to do some satanic ritual.

derrend

hero member

Activity: 707

Merit: 505

Quote from: Steve_Tou on June 12, 2016, 06:12:31 PM

Obvious pyramid scam is obvious.

Explain the pyramid aspect to me, where is it?

A pyramid/ponzi scheme collects money from new investors and uses it to pay off the old ones in an ever expanding bubble but that's not what's happening here imo,

Steve_Tou

sr. member

Activity: 350

Merit: 250

Obvious pyramid scam is obvious.

derrend

hero member

Activity: 707

Merit: 505

Quote from: franky1 on June 12, 2016, 08:57:13 AM

not a faucet but a pyramid scam.

You should at least look at it before making unfounded accusations. What's pyramid about it?

franky1

legendary

Activity: 4410

Merit: 4766

not a faucet but a pyramid scam.

reporting to mod to move off topic

derrend

hero member

Activity: 707

Merit: 505

Here is a wordpress article explaining how it works:
https://bitchikun.wordpress.com/2016/06/12/introducing-bit-chikun-com/

And here is a link to the website:
https://bit-chikun.com/

All feedback appreciated.

Topic: This interesting website has turned a bitcoin faucet into a microeconomy (Read 905 times)