TWTIA.com - The Winner Takes It All! - Bitcoin Auction Game

Lauren Smith

sr. member

Activity: 1050

Merit: 277

Quote from: TWTIA.com on August 19, 2017, 12:50:06 PM

Quote from: DarkStar_ on July 22, 2016, 07:33:28 PM

Has the game shut down?

It was a side project for me, and unfortunately I didn't have time to manage all the necessary promotion, marketing etc... to let it take off for real.

If anyone is interested to buy it I'm open to offers, feel free to comment here or write me at: [email protected]

I will provide the buyer with all the following material:

Complete HTML/Javascript/CSS/PHP/MySQL code for TWTIA.com frontend and backend.
Account credentials for TWTIA.com domain name and anonymous hosting paid with bitcoins (now expired, but it can be renewed upon payment).
Account credentials for Block.io wallet connected to the site.
Account credentials for [email protected] email address.
Account credentials for "TWTIA.com" bitcointalk user.

I'm available for any further clarification.

Well it is a pretty good idea. Instead of selling it why don't you get a team together ? If you can't so it alone you definitely should hey someone to help you. I don't know it's up to you but think about it. There so many people here who would love to help you including myself.

TWTIA.com

newbie

Activity: 18

Merit: 0

Quote from: DarkStar_ on July 22, 2016, 07:33:28 PM

Has the game shut down?

It was a side project for me, and unfortunately I didn't have time to manage all the necessary promotion, marketing etc... to let it take off for real.

If anyone is interested to buy it I'm open to offers, feel free to comment here or write me at: [email protected]

I will provide the buyer with all the following material:

Complete HTML/Javascript/CSS/PHP/MySQL code for TWTIA.com frontend and backend.
Account credentials for TWTIA.com domain name and anonymous hosting paid with bitcoins (now expired, but it can be renewed upon payment).
Account credentials for Block.io wallet connected to the site.
Account credentials for [email protected] email address.
Account credentials for "TWTIA.com" bitcointalk user.

I'm available for any further clarification.

Brakoo-Lottery

full member

Activity: 204

Merit: 100

Quote from: DarkStar_ on July 22, 2016, 07:33:28 PM

Has the game shut down? I noticed there weren't any auctions since the 20th of July, and from all the past auctions, it doesn't seem very profitable for you. This type of game won't work that well since too many people try to snipe. If your trying to think of a new idea to make it profitable, try adding a deposit system and making it a blind auction. That way, players will be higher amounts in hopes of having a higher chance to win, creating more profit for you.

Since mid july, owner did not connect to Bitcointalk. I guess the game is not working anymore.
Looking at how hard it is to bring people to play to Brakoo, which is provably fair and fully transparent, I don't think that this twitia has any chance to take off.

DarkStar_

legendary

Activity: 2772

Merit: 3284

Has the game shut down? I noticed there weren't any auctions since the 20th of July, and from all the past auctions, it doesn't seem very profitable for you. This type of game won't work that well since too many people try to snipe. If your trying to think of a new idea to make it profitable, try adding a deposit system and making it a blind auction. That way, players will be higher amounts in hopes of having a higher chance to win, creating more profit for you.

TWTIA.com

newbie

Activity: 18

Merit: 0

Quote from: HostFat on July 09, 2016, 08:30:18 PM

Maybe you should add more auctions with different times, some of them like only 1 hour or less.

As of now auction time is 6 hours, i.e. there are 4 auctions per day: this should cover all time zones. With more user engagement yes, we could do more than 4 per day.

Quote from: DarkStar_ on July 09, 2016, 09:36:04 PM

If I send an transaction in the last 5 minutes, and it hasn't confirmed, but someone else outbids me, I can double spend that transaction, giving me an (almost) risk free chance of winning, and possibly cheating others to force them to make higher bets. Consider adding a policy that the transaction only counts as a valid bid if it confirms before the end time. Will combat sniping, and will also make the game more interesting.

Interesting... without confirmation you shouldn't be able to get the prize anyway, but I see your point. Maybe requiring 1 confirmation before auction end in order for the bid to be counted could be an interesting twist.

Thank you all guys, your feedback is very much appreciated!

DarkStar_

legendary

Activity: 2772

Merit: 3284

Quote from: TWTIA.com on July 08, 2016, 01:38:38 PM

Quote from: LegitPoker on July 08, 2016, 01:27:59 PM

How does the site generate revenue if the bids get added to the jackpot?

also, what about double spends. I dont know much about them but this seems like a place the scammers would use the trick.

House margin is 5% (only on the won amount - winning bid is returned entirely). Regarding double spends before paying the jackpot 3 confirmations on all transactions are waited.

That won't work. If I send an transaction in the last 5 minutes, and it hasn't confirmed, but someone else outbids me, I can double spend that transaction, giving me an (almost) risk free chance of winning, and possibly cheating others to force them to make higher bets. Consider adding a policy that the transaction only counts as a valid bid if it confirms before the end time. Will combat sniping, and will also make the game more interesting. Banning addresses won't work. It is easy to mix your coins using exchanges, with little or no fees. I can fully mix my coins, leaving no fees by going My Wallet -> Nitrogensports -> Primedice.com -> Moneypot.com -> Other exchange -> New wallet

HostFat

staff

Activity: 4270

Merit: 1209

I support freedom of choice

Maybe you can also ban addresses that try to double spend, and addresses that receive the change from a banned address.

Maybe you should add more auctions with different times, some of them like only 1 hour or less.

TWTIA.com

newbie

Activity: 18

Merit: 0

Quote from: LegitPoker on July 08, 2016, 01:27:59 PM

How does the site generate revenue if the bids get added to the jackpot?

also, what about double spends. I dont know much about them but this seems like a place the scammers would use the trick.

House margin is 5% (only on the won amount - winning bid is returned entirely). Regarding double spends before paying the jackpot 3 confirmations on all transactions are waited.

LegitPoker

member

Activity: 112

Merit: 10

BitLegit.com - btc poker

How does the site generate revenue if the bids get added to the jackpot?

also, what about double spends. I dont know much about them but this seems like a place the scammers would use the trick.

TWTIA.com

newbie

Activity: 18

Merit: 0

Quote from: dragonchopper9 on July 08, 2016, 12:12:13 PM

is there any way to see the last bids from everyone ?

On http://twtia.com/ you can see the current highest bid amount. Then on the Blockchain you can see all the details, including address and time of each bid:

https://blockchain.info/address/3HFe9pr52azPQ3s2UUssrAXYubUxuTwtSD

LegitPoker

member

Activity: 112

Merit: 10

BitLegit.com - btc poker

looks like 12 minutes left and no bidders. no activity unless people are just waiting to snipe it but with 1st and 2nd bids adding time, idk if anyone is going to bid.

dragonchopper9

sr. member

Activity: 361

Merit: 250

is there any way to see the last bids from everyone ?

TWTIA.com

newbie

Activity: 18

Merit: 0

Less than 1 hour Wink

TWTIA.com

newbie

Activity: 18

Merit: 0

So as anticipated thanks to community feedback (HostFat expecially Wink

) we changed the way closing time is managed.

Auction duration starts at 6 hours, then first bid extends closing time by 15 minutes, second bid by 5 minutes, and finally all subsequent bids by 60 seconds.

Current auction is expiring today at 18 GMT at the moment, and jackpot is 0.2 BTC... good luck! Wink

http://twtia.com/

TWTIA.com

newbie

Activity: 18

Merit: 0

Quote from: Brakoo-Lottery on July 04, 2016, 04:47:41 PM

Looks like Brakoo, but without any randomness in the game. I don't know if it's appropriate to have this post in the Gambling section.

Tip to TWTIA owner: wait the end of the auction period, send the highest bid at the last moment, and take the money of your participants Wink

Cheers.

Nice game! Well yes of course I could participate and try to get the jackpot... but just like all other participants are trying to do the same Grin

Quote from: JasonXG on July 05, 2016, 03:39:50 PM

Would like to add. This is a very good idea . How did you come up with it ? You must have been thinking about how you could do something different , which you have. Very clever . An auction for jackpots. Like you combined them. Nice going on spicing the ga!bling scene up. *high five*

Thanks for your kind words! We are in the process of adding some additional features to spice up the game... new version should be ready this coming Friday Wink

JasonXG

hero member

Activity: 770

Merit: 500

Would like to add. This is a very good idea . How did you come up with it ? You must have been thinking about how you could do something different , which you have. Very clever . An auction for jackpots. Like you combined them. Nice going on spicing the ga!bling scene up. *high five*

Brakoo-Lottery

full member

Activity: 204

Merit: 100

Looks like Brakoo, but without any randomness in the game. I don't know if it's appropriate to have this post in the Gambling section.

Tip to TWTIA owner: wait the end of the auction period, send the highest bid at the last moment, and take the money of your participants Wink

Cheers.

TWTIA.com

newbie

Activity: 18

Merit: 0

Quote from: dbshck on July 03, 2016, 02:55:37 PM

Confirming that I (owner of 1LTuBE...) have received the pot money from the first auction.

Every bids and prize payout transaction can be found here (the bid address) https://blockchain.info/address/3HFe9pr52azPQ3s2UUssrAXYubUxuTwtSD

Thanks TWTIA! Wink

Thanks to you for trusting us and being our "guinea pig" Wink

dbshck

staff

Activity: 2454

Merit: 1617

Crypto Swap Exchange

Confirming that I (owner of 1LTuBE...) have received the pot money from the first auction.

Every bids and prize payout transaction can be found here (the bid address) https://blockchain.info/address/3HFe9pr52azPQ3s2UUssrAXYubUxuTwtSD

Thanks TWTIA! Wink

TWTIA.com

newbie

Activity: 18

Merit: 0

Congratulations to 1LTuBEbmRJkbGJWLuUFmHw3d7N7SgrTPqn, our first winner!

0.2009 BTC won with a bid of 0.011 BTC:

https://blockchain.info/tx/b51e52d8685756bbde3f96ceaa9c257409c4dc180d30ceb4ef708942a6726bc8

Jackpot will be seeded again during the next days, and some other great news are coming... stay tuned Wink

TWTIA.com

newbie

Activity: 18

Merit: 0

Quote from: Stedsm on July 02, 2016, 02:56:07 PM

I want to ask that what's that multiple bids that get added to the jackpot?

All the bids form all participants increase the jackpot. Multiple bids means that if your bid is no more the highest bid at some point in time, you can bid again if you want.

Quote from: Stedsm on July 02, 2016, 02:56:07 PM

How can people compete when they will be able to see the current highest bid?

The highest bid is displayed to let participant know which amount they need to outbid in order to win.

Stedsm

legendary

Activity: 3052

Merit: 1273

Good game, but still need to learn before investing.
I want to ask that what's that multiple bids that get added to the jackpot?
How can people compete when they will be able to see the current highest bid?

TWTIA.com

newbie

Activity: 18

Merit: 0

Quote from: DarkStar_ on July 02, 2016, 12:57:45 PM

What an unconfirmed transaction with the highest bid count as a valid bid, or does it have to confirm before it counts? Would be good to have clear rules on that.

Yes, unconfirmed transactions count as bids as soon as they are broadcasted: the time considered for the auction is the "Received time" you can see on blockchain explorers. Just as an example, this specific transaction would be counted as a bid placed on: 2016-06-21 20:37:39

https://blockchain.info/tx/ef330638e69f08504f04709e8237bab69eac5c554228b8ad86925af5b7a119e6

Then the prize is paid to the winner as soon as all the bids included in the jackpot have 3 confirmations.

DarkStar_

legendary

Activity: 2772

Merit: 3284

Quote from: TWTIA.com on July 02, 2016, 12:54:07 PM

About 24 hours to first auction closing, 0.2 BTC are still there up for grabs Wink

Does an unconfirmed transaction with the highest bid count as a valid bid, or does it have to confirm before it counts? Would be good to have clear rules on that.

Edit: Dammit, forgot about sniping the pot. Congrats to the person who win the 0.2 BTC with a small bid!

TWTIA.com

newbie

Activity: 18

Merit: 0

About 24 hours to first auction closing, 0.2 BTC are still there up for grabs Wink

TWTIA.com

newbie

Activity: 18

Merit: 0

Quote from: HostFat on June 27, 2016, 01:05:53 PM

What do you think about making other "auctions" that reset them self at every bid?
https://bitcointalksearch.org/topic/thebutton-gambling-idea-1439839

Thanks for sharing, HostFat! Wink

It seems an interesting game, let me analyze it and I'll give you some feedback.

Quote from: Daffadile on June 28, 2016, 12:40:56 AM

Your site appears to be down.
So this is like bidding on items on ebay ?
That is the general idea right ? Sounds good. Perhaps you should let people buy tokens and bid with those ?

Sorry for the inconvenience, the site is up as of now. Hopefully it was a random network outage only.

Basically you bid for a jackpot of money instead of items (like eBay), and the jackpot grows at any bid. All the losing bids add to the jackpot itself, and at the end the higher bid wins.

Quote from: minime0105 on June 28, 2016, 02:13:26 AM

The site seems down, and i really dont know if this is a good idea, how can we know if you will give back the btc's auctioned?
Can you please give more details with this..haha

I understand you concern, however the same concern applies to basically every bitcoin game, service and exchange

Let's put it in these terms: it doesn't make economic sense to develop a game, build the web site, backend scripts, etc... just to steal 100/200$ (maybe) at the first auction, since if you steal and don't honor the rules of the game of course nobody will want to have any business with you.

minime0105

hero member

Activity: 1246

Merit: 534

The site seems down, and i really dont know if this is a good idea, how can we know if you will give back the btc's auctioned?
Can you please give more details with this..haha

Daffadile

hero member

Activity: 1162

Merit: 500

CryptoTalk.Org - Get Paid for every Post!

Your site appears to be down.
So this is like bidding on items on ebay ?
That is the general idea right ? Sounds good. Perhaps you should let people buy tokens and bid with those ?

HostFat

staff

Activity: 4270

Merit: 1209

I support freedom of choice

What do you think about making other "auctions" that reset them self at every bid?

https://bitcointalksearch.org/topic/thebutton-gambling-idea-1439839

TWTIA.com

newbie

Activity: 18

Merit: 0

Introducing "The Winner Takes It All!", a bitcoin auction game:
http://twtia.com/

How it works:

Dynamic Auctions: auction duration starts at 6 hours, there's no minimum bid and multiple bids are allowed. All bids add up to the jackpot and extend closing time: first bid extends closing time by 15 minutes, second bid by 5 minutes, then all subsequent bids by 60 seconds.

The Winner Takes It All: at auction end, the highest bid wins the entire jackpot. The winning bid is paid back 100%, and 90% of all losing bids are won (5% goes into the next auction, 5% is the house margin).

Fair and Safe: in case of multiple highest bids (same amount) the earlier bid wins. Late bids (transactions arriving after auction end) are not lost, they are automatically considered for the next auction.

Transparent: all bitcoin transactions are in the blockchain, and they can be independently audited and monitored. Amounts < 0.001 BTC are not paid (they go into the next auction).

(IMPORTANT: jackpot is paid out to the address placing the winning bid. Use only wallets that allow you to receive coins from the same address you bid from.)

For any question, clarification, suggestion or feedback please let us know. Good luck!

http://twtia.com/

Topic: TWTIA.com - The Winner Takes It All! - Bitcoin Auction Game (Read 1445 times)