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Author Topic: Nice Payout Gambling Game!  (Read 4921 times)

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Offline Joshua MTopic starter

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    • View Profile Nice Payout Gambling Game!
« on: February 22, 2013, 07:53:43 AM »
Hey guys, just set up a new site:

newbielink: [nonactive]

Go check it out!!

here's the gist of it:

Well, first off you buy the Gold Coin. When you buy the Gold Coin there's a 2.5% chance that your purchase will trigger a reset, meaning you lose your investment and the price of the Gold Coin goes down to it's original price ( .1 BTC). If your purchase doesn't trigger a reset then congratulations! You now own the Gold Coin. Now you're wanting someone else to come along and buy it from you, for the new price which is 20% more than what you paid!

So after you buy the Gold Coin go post about it on Facebook or Twitter! Go tell your friends! The more people join in on this game the more BTC people can make!


What is this?

The bitcoin Gold Coin is an entertaining game, advertising opportunity, and a psychological experiment. You can think of it as a self-sustainingspeculative bubble.

Why should I buy the Gold Coin?

Who wouldn't want the Gold Coin? Not only do you get free advertising and profit when the next buyer comes in, but you'll look cool doin it too.

How/when does the price increase?

Each time the Gold Coin changes owners its worth increases by 20%, rounded to 4 decimal places.

Why does the Gold Coin reset at all?

If it never reset, the price would go up forever. While this can be awesome to see, it would leave one gigantic loser at the end of the chain. Like any other speculative bubble, the Gold Coin has to collapse at some point.

When does the Gold Coin reset?

The Gold Coin resets in a completely random manner and can't be influenced in any way. Once your payment confirms, we take your transaction hash and the merkle root of the block containing your transaction and create another hash: hmac_sha512(merkleroot,txhash). If the decimal of the first two bytes of this hash are less than 1638 then you reset the Gold Coin. Since nobody can know the merkle root in advance there's no way to trick the system. This also lets you easily verify that resets were handled correctly.

So what are my odds of making a profit?

Technically speaking, your odds of making a 15% profit are 97.5%, assuming another buyer purchases the Gold Coin after you.

What happens if no one after me buys the Gold Coin?

If there's no purchase for 1 week, the Gold Coin will automatically reset to 0.1 bitcoins.

What happens if I send a payment but a few seconds before me another player buys the Gold Coin?

After a unique buying address is generated, purchases will be locked for 1 minute – so this should not happen. However, if an accidental double pay occurs, we will send a complete refund to the bitcoin address you provided and will include a public message via blockchain. Please note that refunds are made manually, so they could take a while.

I accidentally entered a wrong bitcoin address and my payout was sent to it – can you refund me?

Payouts are automatic, once they're done the coins are on their way to the address you gave us and a refund is not possible. So please be sure to double check your address.

I don't trust you, how do I know you won't run away with my coins?

We try to make everything as transparent as possible, but you really should not play if you don't trust the bitcoin Gold Coin.

What about bugs and flaws?

Please tell us about bugs you find! We're using the APIand can't guarantee 100% uptime. However, if there's a problem with their software or our server your transaction will still be in the block chain. We manually check incoming and outgoing transactions and will react accordingly.
« Last Edit: February 22, 2013, 08:24:29 AM by Joshua M »

Offline Joshua MTopic starter

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Re: Nice Payout Gambling Game!
« Reply #1 on: February 22, 2013, 08:27:56 AM »
My apologies about the incorrect URL. It is fixed now :)


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