Quote from: Betcoin.AG on July 24, 2014, 08:09:53 PM

Quote from: bauta11 on July 24, 2014, 02:24:39 PM

5) December is a long time from now. $1M could be worth 500 or 3000 BTC by then. Is it really wise to promote the tournament as "1,500 BTC GTD" at this stage? Or are you still guaranteeing the 1500 BTC prizepool, even if the prize per BTC is $3,500 in December?

5. We haven't been asked this question yet, but the tournament is a $1,000,000 GTD tournament and whatever the BTC amount is at that time it will always be $1,000,000 guaranteed. This GTD amount will not fluctuate with the bitcoin price. Though we believe bitcoin will be worth more than it is now, you don't point out if a bitcoin is worth less because that works against your point. Even if a bitcoin is worth $10 when the tournament is complete, this tournament will still be $1,000,000 GTD and the winner will receive $200,000 worth of bitcoins.

Thank you for your answers. Well, I most certainly beleive I did point that out. But let's try again. We both agree on that bitcoins most probably will be worth more in December, but that is beside the point. There are three possible outcomes:

1) The price of a bitcoin is hovering just around $600 in December. You nailed it, and can't be accused of making false promises. [Very unlikely]

2) The price of bitcoin is worth less than $600 in December. The prizepool, in terms of bitcoins, is actually bigger and you need to adjust the promoted prizepool. [Much more likely]

3) The price of a bitcoin is worth more than $600 in December. Once again you need to adjust the prizepool, but downward. [Much more likely]

Essentially you are not guaranteeing the 1,500BTC prizepool, and you shouldn't promote it that way. That is my point.

bauta11

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