Betting on blockchain — bets on Bitcoin and Cryptocurrency rates in ADAMANT
The amount of analysts who predict the rates of Bitcoin and other cryptocurrencies, draw graphs and speak mathematical terms, has been lately increasing. Their words often mean nothing.
But now everyone will have the opportunity to reinforce their opinion with a bet using ADAMANT betting bots. It’s anonymous, blockchain-proven and has automatic payments.
Bets in cryptocurrency
The bots take bets in cryptocurrency directly from the ADAMANT Messenger wallets. The bettings and payments are proven by blockchain transactions.
Bets on cryptocurrency exchange rates
If you perfectly predict the Bitcoin or other cryptocurrencies price — you have the opportunity to earn. You can also create your own bot, which will accept bets on the price of any cryptocurrency, and not just Bitcoin or ETH.
Anonymous, fast, convenient
To make a bet on the Bitcoin price you only need to create an anonymous wallet in ADAMANT, top up the balance and send a message to a bot.
The bot receives cryptocurrency rates, determines the winners, and automatically sends rewards — we completely eliminate the human factor.
Your own betting means
ADAMANT is a platform that allows everyone to launch their own bot (the exchanger, for example), and a betting bot can bring you income.
The betting bot is an open source program as well as other ADAMANT apps. You can create your own right now or wait for us to publish the guide for that.
The bot accepts various types of bets:
- Cryptocurrency price bets ± error.
- The bets on max/min cryptocurrency price during some period ± error (in development)
- The bets on whether the price will go up or down during period (in development)
- The bets on cryptocurrency price exceeding a certain price by a certain date (will McAfee eat his own dick?) (in development)
We are constantly expanding the betting bots functionality.
How do bets in ADAMANT work?
The bot is based on the classic Parimutuel betting program.
First, bets are collected on bot’s wallets in all acceptable cryptocurrencies. Acceptance of bets for the current round stops for some time before its end, which is set by the bot owner. This is necessary so that the bet is not made minutes before the round’s end, when the price has already been determined.
By the round’s end the bot will determine the current exchange rate according to CryptoCompare and the users who guessed the price within a given error become winners. The prize fund is the sum of bets received in all cryptocurrencies minus the bot fee.
The bot then distributes the rewards proportionally to the bets made. For example, there are three winners, and they put ~10 USD, ~10 USD and ~20 USD, that way the first and the second winners take 25% of the prize fund, and the third takes 50%. However, besides the size of the bet, its accuracy and creation time are also taken into account.
The accuracy is determined by the accuracy coefficient, which can be from 1 (minimum match) to 2 (exact match). The earlier a bet is made before the current round’s end, the higher the “early bet coef” is, which varies from 1 (a bet at the end of the round) to 2 (a bet is made at the very beginning of the round).
The payments are also made in all acceptable cryptocurrencies.
Everyone can run their tote on the blockchain. For example, let’s bet using U17840858470710371662 bot. It has the following settings:
- The bot accepts bets on the Bitcoin exchange rate (BTC)
- A new round is every Sunday (10:00 +00:00). Bets for the current round are accepted from Sunday to Thursday. If you make a bet on Friday or Saturday (48 hours before the end of the round), it will be counted in the next round.
- The error is ±100 USD. If you bet on exchange rate of $9500 and it will be $9590 — you are among the winners.
- Fee: 20%
- The minimum bet is 0.1 USD, the minimum payout is 1 USD.
To make a bet send “hello” to the bot and it will tell you what to do next.
How to bet on BTC exchange rate?
If the dialogue with the bot did not work out, or you have not figured out how to place a bet, read on.
- Start by creating a new wallet, receiving free tokens and creating a new dialogue
- Your ADAMANT account can work with various built-it cryptocurrencies: Ethereum, Bit-Z token, Binance Coin Token (Ethereum chain), KuCoin Shares, DOGE, Dash, StableUSD. To top up these wallets simply send some amount to their addresses.
- When the balances are above 0, you can bet. To do this, add the bot to your chats, its address is U17840858470710371662.
- Send “Hello”. The bot will offer you to type /help.
- Send /rates BTC to get the current exchange rate.
- Now you are ready to bet. Let’s assume you want to bet 250 ADMs so that the bitcoin exchange rate at the round’s end will be $11300. Send 250 ADM to the bot, and specify “11300” in the transaction comment.
- The bot will check your transaction and accept the bet. When the round ends, the bot will report the actual rate and if you win, you get a reward.
In case of problems with the bot U17840858470710371662 write to ADAMANT U15738334853882270577 or to firstname.lastname@example.org, and we will help.
Please note that the ADAMANT team is only responsible for the tote U17840858470710371662, and is not responsible for any other bots. If you have problems with another bot, contact its owner.
Do you like it? What do you think of bets on cryptocurrency exchange rates? Share your opinion in the ADAMANT communities.