Frequently Asked Question

What is Bitalo Predictions?

Bitcoin Predict is a Social Forecast Platform that makes predictions on the future Bitcoin Price. It makes use of Wisdom of the crowds and try to aggregate available information about Bitcoin price.

Who can participate?

Everybody is allowed to participate. So feel free to create an account.

How does it work?

Everybody has an opinion, but the quality of such an assessement is hard to determine. So we ask participants not only for their honest opinions, we ask to bet (with play money) on them. The most successful participants win prizes.

How do I bet?

Just choose a question you think you can answer. State your assessment. You have to set two dimensions: your assessment and your wager. Then your potential winning is calculated immediately.

Do I have to spent real money?

No. Bitcoin Predict uses a virtual currency called Credits. You receive them at signup. Additional Credits can be earned by inviting friends to Bitcoin Predict.

How is the potential winning calculated?

There are several factors that influence the winning. The more popular an opinion is among other users the smaller is the winning. The more precise an assessment is, the higher is the winning. Try to place your assessment as early as possible, before your assessment (hopefully) becomes a mainstream opinion.

How can I win a prize?

To win a prize you have to win a round. To win a round you need to have the highest score within the round. A round is finished when all included bets has been paid out.

How is score calculated?

Base driver of score is the total relative average gain (gain in %) you made in a specific round. So beginners and advanced users with a higher balance have the same chance to win. But we want you to participate actively, so if you don’t invest all of your money in bets, your score decreases.

What is the reference value

Bitcoin reference prices are queried from Bitcoin Average. Reference value is the last average price of the day.

What can I win?

Prizes can differ from round to round. See the price section for more information.

When do I get my prize?

We notify the winners when the last bet in a round is paid out. Then we wait for a reply. If a winner does not answer we adapt the ranking accordingly. In average this process takes up to four weeks.

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