I'm still not understanding how the total deposits are at 222 BTC but yet according to your math there is 216 paid when there is clearly more than 6 BTC unpaid. Unless the total paid in your chart = the estimate, after fees.
As such I don't see how the pot is at 2.77 BTC with many people who have desposited into it since the last payout.
Topic: [WEEKEND ROUND WITH JACKPOT] BitCat.ch - automated bitcoin game. - page 11. (Read 34476 times)
July 10, 2011, 03:28:12 PM
July 10, 2011, 02:40:44 PM
How hasn't the pot reached 2.8 BTC when there are dozens of people after him that have put in the same amount? That doesn't make any logical sense. There aren't any payouts happening as far as I can see, assuming the last person who was paid made the pot go back down to zero as a worst case scenario (since it obviously can't be negative).
Basically: I don't understand how the "next in line" is still waiting for the pot to reach 2.8 BTC when there are dozens of people who have put into the pot after him that more than fill the 2.8 requirement.
Basically: I don't understand how the "next in line" is still waiting for the pot to reach 2.8 BTC when there are dozens of people who have put into the pot after him that more than fill the 2.8 requirement.
Then do the math.
Edit: Went ahead and did it for you: https://spreadsheets.google.com/spreadsheet/ccc?hl=en_US&hl=en_US&key=t33pqDmUO-yM4ggHdR_z6Lg#gid=0
July 10, 2011, 02:38:14 PM
How hasn't the pot reached 2.8 BTC when there are dozens of people after him that have put in the same amount? That doesn't make any logical sense. There aren't any payouts happening as far as I can see, assuming the last person who was paid made the pot go back down to zero as a worst case scenario (since it obviously can't be negative).
Basically: I don't understand how the "next in line" is still waiting for the pot to reach 2.8 BTC when there are dozens of people who have put into the pot after him that more than fill the 2.8 requirement.
Basically: I don't understand how the "next in line" is still waiting for the pot to reach 2.8 BTC when there are dozens of people who have put into the pot after him that more than fill the 2.8 requirement.
July 10, 2011, 01:24:11 PM
My mistake. I was thinking of the bet, not the winnings.
July 10, 2011, 01:11:03 PM
It actually has reached 2.7177 BTC but it needs 2.88 to be paid out.
July 10, 2011, 12:01:05 PM
Someone thought the same earlier in the thread. Basically the way it works is people deposit money, then get paid out 1.2 times the amount they put in. So because of this, if someone deposits 1 BTC, then you deposit 1 BTC, they get paid out their 1.2 BTC but now there is only .8 BTC left in the pot. Over time this gap grows larger, so the people in front of you are simply paying off that larger debt. On a larger scale, imagine a total of 100 BTC has been deposited, that means there will be 20 BTC worth of deposits that are unpaid.
This is why it's a pyramid scheme/gamble, there is no way everyone can get paid out and there's going to be some losers in the end. Bernie Madoff was discovered because it went on long enough that the gap was billions of dollars large, we're just dealing with a few BTC.
If you want to figure out how much is left before you get paid you can do it the quick way or the long way:
Long way: Sum up all the deposits, then subtract the paid amounts, then subtract the 3% fee from each deposit (easy to do with spreadsheets). This will leave you with the current amount left in the pool. Then you can use that to subtract from the total BTC left before you're paid out to get the exact amount.
Short way: Assume the pot is 0. Add up all unpaid deposits up to and including your own. This is a rough estimate of how much before you're paid.
This is why it's a pyramid scheme/gamble, there is no way everyone can get paid out and there's going to be some losers in the end. Bernie Madoff was discovered because it went on long enough that the gap was billions of dollars large, we're just dealing with a few BTC.
If you want to figure out how much is left before you get paid you can do it the quick way or the long way:
Long way: Sum up all the deposits, then subtract the paid amounts, then subtract the 3% fee from each deposit (easy to do with spreadsheets). This will leave you with the current amount left in the pool. Then you can use that to subtract from the total BTC left before you're paid out to get the exact amount.
Short way: Assume the pot is 0. Add up all unpaid deposits up to and including your own. This is a rough estimate of how much before you're paid.
Except more and more people keep depositing into this, yet the last paid person has been the same for 24 hours or so. No one is getting payouts. I doubt it takes 30+ people, of which many are putting in 2+ BTC into this, to pay off one guy who is expected to get 2.4 BTC when everyone else behind him is already paid. AKA he is "next in line"... and has been for well over a day now. Still hasn't gotten a payout, which makes me think that this thing only pays when the owner decides it to.
It's an automated game. Do the math and you'll see that the pot hasn't reached 2.4 BTC yet.
July 10, 2011, 11:48:36 AM
Someone thought the same earlier in the thread. Basically the way it works is people deposit money, then get paid out 1.2 times the amount they put in. So because of this, if someone deposits 1 BTC, then you deposit 1 BTC, they get paid out their 1.2 BTC but now there is only .8 BTC left in the pot. Over time this gap grows larger, so the people in front of you are simply paying off that larger debt. On a larger scale, imagine a total of 100 BTC has been deposited, that means there will be 20 BTC worth of deposits that are unpaid.
This is why it's a pyramid scheme/gamble, there is no way everyone can get paid out and there's going to be some losers in the end. Bernie Madoff was discovered because it went on long enough that the gap was billions of dollars large, we're just dealing with a few BTC.
If you want to figure out how much is left before you get paid you can do it the quick way or the long way:
Long way: Sum up all the deposits, then subtract the paid amounts, then subtract the 3% fee from each deposit (easy to do with spreadsheets). This will leave you with the current amount left in the pool. Then you can use that to subtract from the total BTC left before you're paid out to get the exact amount.
Short way: Assume the pot is 0. Add up all unpaid deposits up to and including your own. This is a rough estimate of how much before you're paid.
This is why it's a pyramid scheme/gamble, there is no way everyone can get paid out and there's going to be some losers in the end. Bernie Madoff was discovered because it went on long enough that the gap was billions of dollars large, we're just dealing with a few BTC.
If you want to figure out how much is left before you get paid you can do it the quick way or the long way:
Long way: Sum up all the deposits, then subtract the paid amounts, then subtract the 3% fee from each deposit (easy to do with spreadsheets). This will leave you with the current amount left in the pool. Then you can use that to subtract from the total BTC left before you're paid out to get the exact amount.
Short way: Assume the pot is 0. Add up all unpaid deposits up to and including your own. This is a rough estimate of how much before you're paid.
Except more and more people keep depositing into this, yet the last paid person has been the same for 24 hours or so. No one is getting payouts. I doubt it takes 30+ people, of which many are putting in 2+ BTC into this, to pay off one guy who is expected to get 2.4 BTC when everyone else behind him is already paid. AKA he is "next in line"... and has been for well over a day now. Still hasn't gotten a payout, which makes me think that this thing only pays when the owner decides it to.
July 09, 2011, 04:45:45 PM
Short way: Assume the pot is 0. Add up all unpaid deposits up to and including your own. This is a rough estimate of how much before you're paid.
Actually I think a better way is to check how long it took for the last winnings to be paid out (difference between time bitcoin was put in and the time winnings were paid out).
For example the current last payment (to 1LYQigFJFWCamaJiPeSQotAUHxVpgC8AB6) took about 18 hours. So this will probably be the minimum time you will need to get your winnings, probably longer. The estimated duration grows exponentially until it is longer than the time left in the game. At which point you shouldn't play anymore.
July 09, 2011, 04:33:36 PM
July 09, 2011, 04:06:14 PM
This round is going very well. I have been paid out 2 times now and re-invested.
July 09, 2011, 11:54:30 AM
Someone thought the same earlier in the thread. Basically the way it works is people deposit money, then get paid out 1.2 times the amount they put in. So because of this, if someone deposits 1 BTC, then you deposit 1 BTC, they get paid out their 1.2 BTC but now there is only .8 BTC left in the pot. Over time this gap grows larger, so the people in front of you are simply paying off that larger debt. On a larger scale, imagine a total of 100 BTC has been deposited, that means there will be 20 BTC worth of deposits that are unpaid.
This is why it's a pyramid scheme/gamble, there is no way everyone can get paid out and there's going to be some losers in the end. Bernie Madoff was discovered because it went on long enough that the gap was billions of dollars large, we're just dealing with a few BTC.
If you want to figure out how much is left before you get paid you can do it the quick way or the long way:
Long way: Sum up all the deposits, then subtract the paid amounts, then subtract the 3% fee from each deposit (easy to do with spreadsheets). This will leave you with the current amount left in the pool. Then you can use that to subtract from the total BTC left before you're paid out to get the exact amount.
Short way: Assume the pot is 0. Add up all unpaid deposits up to and including your own. This is a rough estimate of how much before you're paid.
This is why it's a pyramid scheme/gamble, there is no way everyone can get paid out and there's going to be some losers in the end. Bernie Madoff was discovered because it went on long enough that the gap was billions of dollars large, we're just dealing with a few BTC.
If you want to figure out how much is left before you get paid you can do it the quick way or the long way:
Long way: Sum up all the deposits, then subtract the paid amounts, then subtract the 3% fee from each deposit (easy to do with spreadsheets). This will leave you with the current amount left in the pool. Then you can use that to subtract from the total BTC left before you're paid out to get the exact amount.
Short way: Assume the pot is 0. Add up all unpaid deposits up to and including your own. This is a rough estimate of how much before you're paid.
July 09, 2011, 11:26:41 AM
Hmm I wonder...
How long does it take to get a payout usually? It appears as if there's enough to fill my 1.2 btc payout ahead of me but it still says I'm unpaid. I wonder if it only does payout if I have confirmations on my end of the client, or maybe the script only does payout at X time during the day?
How long does it take to get a payout usually? It appears as if there's enough to fill my 1.2 btc payout ahead of me but it still says I'm unpaid. I wonder if it only does payout if I have confirmations on my end of the client, or maybe the script only does payout at X time during the day?
July 09, 2011, 08:05:29 AM
nm my fault
July 09, 2011, 12:36:48 AM
Today is the first day of the round, the earlier you join the better your chances.
July 09, 2011, 12:01:19 AM
If it's been 48 hours you likely played in the last round. Each round will end at the time indicated on the website. Anyone not paid out by the end of the round will not be paid out at all.
That's why it's called "gambling"
July 08, 2011, 11:26:01 PM
If it's been 48 hours you likely played in the last round. Each round will end at the time indicated on the website. Anyone not paid out by the end of the round will not be paid out at all.
July 08, 2011, 11:24:51 PM
its been 48hours it that normal?
find yourself on the list, by your receiving address. Then you can estimate how many more people need to enter for you to get paid.
July 08, 2011, 10:48:16 PM
its been 48hours it that normal?
July 08, 2011, 05:41:26 PM
Payout is as soon as it's available. Your receiving address that you input will be next to your deposit in the list. As soon as there is enough money in the pot, you get paid out, so you just have to wait until you're the next in line.
July 08, 2011, 05:40:18 PM
how long does the payout usually take? and how do you know if you won anything?
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