What is this all about?
The bitcoin gem is a fun game as well as an exercise in psychology. You can think of it as a series of speculative bubbles.
Why should I buy the gem?
To advertise your name (or link) under it and show off that you own the gem. Not to mention you can make a handsome profit when a new buyer comes in! We get the most visits of any game similar to this one, which means the most views for your link and the most potential buyers for your gem.
How does the price increase?
Every time the gem changes hands its worth increases by 30%, rounded to 2 decimal places.
Why does the gem randomly reset?
We don't want the price to go up forever; that would result in a gem too expensive for anyone to buy. Like any other bubble, the gem's price has to fall at some point.
When does the gem randomly reset?
The gem resets in a completely random manner that can't be influenced in any way. We take your transaction hash and a secret string to create another hash:
hmac_sha512(secret,txhash) (using txhash as data and secret as key). If the decimal of the first two bytes of this hash are less than 1024 then you reset the gem. The secret changes every day, current server time is 20. May. 2013, 13:18. Secrets will be released after a day has been over for at least 24 hours, here's the list of past secrets.
Here are all hashed secrets for the next couple of years: hashes.txt, we used
hash('sha256',secret) to create these. To verify that we're not messing around with the hash file you can check the hash of the file itself, we included it in this public message via blockchain.info.
What happens if no one after me buys the gem?
If there's no new buyer for more than 24 hours, the gem will reset automatically to 0.1 bitcoins and you'll lose your stake.
So what are my odds of making a profit?
Your odds of making a 25% profit are 98.4375%, assuming another buyer purchases the gem after you.
What happens if I send payment but 2 seconds before me another one buys the gem?
After a buying address is generated, buying will be locked for 2 minutes – 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, here's an example. 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. Please be sure to double check your address.
Should I include a miners fee?
Yes! Please don't send payments without a proper fee. We might cancel your transaction if it does not confirm because of a missing fee. You'll be refunded once your transaction confirms.
I bought the gem but changed my mind, can you refund me?
Once you are the owner of the gem, we can't refund you because your coins already will have already gone to the previous owner.
I don't trust you, how do I know you won't run away with my coins?
We've been running since January 2013 without any issues, you can check the list of previous owners on this page to see all the successful transactions we've made. You can do your own research on bitcointalk.org and see what people are saying about this site.
What about bugs and flaws?
Please tell us about bugs you find! We can't guarantee 100% uptime. However, if there's a problem with our server, your transaction will still be in the block chain and we will refund any losses due to our error. We will manually check incoming and outgoing transactions and react accordingly.