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Topic: BitBet.us is live and accepting bets again (Read 1986 times)

legendary
Activity: 1652
Merit: 4393
Be a bank
July 14, 2017, 05:55:57 AM
#24
Bitbet.us is down again, and this time it looks like it is down for good.
I thought this site was very interesting so I have hired a developer to create a similar one hosted by Bitcoin.com
I would love some feedback from the community on what features you would like it to have.
The developer has started a thread about it here: https://forum.bitcoin.com/topic32927.html
Please post your feature requests there, and we will build it.

You cheeky fucker. Piss off and learn how to behave.
vip
Activity: 1052
Merit: 1155
Bitbet.us is down again, and this time it looks like it is down for good.
I thought this site was very interesting so I have hired a developer to create a similar one hosted by Bitcoin.com
I would love some feedback from the community on what features you would like it to have.
The developer has started a thread about it here: https://forum.bitcoin.com/topic32927.html
Please post your feature requests there, and we will build it.
newbie
Activity: 48
Merit: 0
Using the old rule is much clearer and fairer for everyone in my opinion.
What was the old rule?

The "old" rule is in fact still in vigor. We are currently considering changing it,
hence this thread.

The rule in question is described here: https://bitbet.us/faq/#1121

In short, it states that bets received (where "receives" means "transaction is included in a block")
after betting closes or after the resolution event occurs will be considered "donations" to BitBet.

I remember people talking about this. The best policy is not to honor the bet and refund it. Considering it a donation is wrong, as clearly it was intended to be a bet. If you start allowing the bets you'll open up yourself to being scammed.

We certainly won't allow late bets into the pool as they are blatant abuse of the legitimate bettor.

We tend to agree with the "refund late bets" policy (that's what we've actually been doing in practice since taking on management of the site). It seems like the right thing to do.

However, this amounts to manually beating scammers away with a stick, a fairly time consuming affair.

Our current thinking is that we're going to refund late bets, but with a much higher fee than normal to discourage would-be abusers. It feels like a nice middle-of-the-road between the current, fairly extreme
approach and the "laissez-faire, BitBet mods will clean up the mess" approach.

Thoughts ?
hero member
Activity: 952
Merit: 1009
Well, the site only takes a commission, so they're not opening themselves up to being scammed. The more bets the better as far as they're concerned. It's the other players who are vulnerable to getting scammed if you accept bets once the result is clear.

Yeah woops I worded that sentence wrong. Perhaps they could still take the commission from the refunded bet.
legendary
Activity: 2940
Merit: 1333
If you start allowing the bets you'll open up yourself to being scammed.

Well, the site only takes a commission, so they're not opening themselves up to being scammed. The more bets the better as far as they're concerned. It's the other players who are vulnerable to getting scammed if you accept bets once the result is clear.
hero member
Activity: 952
Merit: 1009
Using the old rule is much clearer and fairer for everyone in my opinion.
What was the old rule?

The "old" rule is in fact still in vigor. We are currently considering changing it,
hence this thread.

The rule in question is described here: https://bitbet.us/faq/#1121

In short, it states that bets received (where "receives" means "transaction is included in a block")
after betting closes or after the resolution event occurs will be considered "donations" to BitBet.

I remember people talking about this. The best policy is not to honor the bet and refund it. Considering it a donation is wrong, as clearly it was intended to be a bet. If you start allowing the bets you'll open up yourself to being scammed.
sr. member
Activity: 392
Merit: 251
    - on the one hand we want to protect legitimate bettors from skimmers
    - on the other hand, we do not want legitimate bettors who just bet late
       to be unjustly penalized by the rule

I understand the tradeoff, and prefer protecting players from skimmers.

I very rarely bet on your site however, so it doesn't matter what I think. Smiley

It's never too late to give it a try Smiley


Maybe make every second round option 1, and the other option 2. Do some A/B testing and maybe provide an on-site poll for user's opinions.
newbie
Activity: 48
Merit: 0
    - on the one hand we want to protect legitimate bettors from skimmers
    - on the other hand, we do not want legitimate bettors who just bet late
       to be unjustly penalized by the rule

I understand the tradeoff, and prefer protecting players from skimmers.

I very rarely bet on your site however, so it doesn't matter what I think. Smiley

It's never too late to give it a try Smiley
legendary
Activity: 2940
Merit: 1333
    - on the one hand we want to protect legitimate bettors from skimmers
    - on the other hand, we do not want legitimate bettors who just bet late
       to be unjustly penalized by the rule

I understand the tradeoff, and prefer protecting players from skimmers.

I very rarely bet on your site however, so it doesn't matter what I think. Smiley
newbie
Activity: 48
Merit: 0
We typically refund such bets unless they are a blatant attempt at taking advantage of the other
bettors

[...]

we did refund a very late bet even though it could in fact have been construed as a skimming attempt.

By changing this rule you are effectively telling the cheats that they will now be allowed to cheat again as long as they don't make it too obvious. You are also opening yourself up to accusations of favouritism yourself - maybe you refund some bets and not others because of who made them. We can't tell.

Using the old rule is much clearer and fairer for everyone in my opinion.

Well, the problem these days is that blocks are full, and knowing when your TX will actually confirm
has become an absolute crapshoot unless you add very large fees (which does not work for small bets).

Also, although made very explicit when you place a bet on the site, the rule has created a lot
of controversy and hurt feelings (real or simulated) in the past. We're trying to design the best
possible experience for our users:
    - on the one hand we want to protect legitimate bettors from skimmers
    - on the other hand, we do not want legitimate bettors who just bet late
       to be unjustly penalized by the rule
newbie
Activity: 48
Merit: 0
Using the old rule is much clearer and fairer for everyone in my opinion.
What was the old rule?

The "old" rule is in fact still in vigor. We are currently considering changing it,
hence this thread.

The rule in question is described here: https://bitbet.us/faq/#1121

In short, it states that bets received (where "receives" means "transaction is included in a block")
after betting closes or after the resolution event occurs will be considered "donations" to BitBet.

newbie
Activity: 48
Merit: 0
Nice site, are you planning on adding some extra features ?

Yes, we do have plans for new features, but mostly related to presentation.
We are however, open to suggestions.
legendary
Activity: 1662
Merit: 1050
Using the old rule is much clearer and fairer for everyone in my opinion.
What was the old rule?
hero member
Activity: 1162
Merit: 500
CryptoTalk.Org - Get Paid for every Post!
Nice site, are you planning on adding some extra features ?
legendary
Activity: 2940
Merit: 1333
We typically refund such bets unless they are a blatant attempt at taking advantage of the other
bettors

[...]

we did refund a very late bet even though it could in fact have been construed as a skimming attempt.

By changing this rule you are effectively telling the cheats that they will now be allowed to cheat again as long as they don't make it too obvious. You are also opening yourself up to accusations of favouritism yourself - maybe you refund some bets and not others because of who made them. We can't tell.

Using the old rule is much clearer and fairer for everyone in my opinion.
newbie
Activity: 21
Merit: 0
We would appreciate your perspective on this topic.

With opt-in replace-by-fee, it becomes trivially easy to "cancel" a zeroconf transaction.
full member
Activity: 196
Merit: 100
what is this i want to receive information about that. is ther any one who can give me a breefing aobut that  pleas.e.
newbie
Activity: 48
Merit: 0
Dear BitBet users,

As you know, BitBet is under new management, and we are currently discussing whether
to keep or change the very controversial policy around bets received (where received means
included in a block) after betting closes or after the resolution event has already occurred.

The current policy, which we are given to understand created a lot of frustration in the past
was designed to discourage users to try and take advantage of the other users by betting large
sums on "obvious" bets late in the game or even after the event occurred.
 
Our current policy is to review all such bets manually and to refund them on a case by case basis.
We typically refund such bets unless they are a blatant attempt at taking advantage of the other
bettors by betting on an event where the outcome is known.

This process has unfortunately become necessary these days where transaction confirmation
has become highly unpredictable because of full blocks (even when fat fees are included).

Please see this comment :

https://bitbet.us/bet/1254/bitcoin-value-at-or-above-600-on-jul/#c6150

And please also see this resolved bet:

https://bitbet.us/bet/1269/bitcoin-value-at-or-above-525-before-june

where we did refund a very late bet even though it could in fact have been
construed as a skimming attempt.

We would appreciate your perspective on this topic.

The BitBet management team.
newbie
Activity: 48
Merit: 0

Dear BitBet users,

We are currently experiencing a DDOS attack very similar to the one our colleagues at
Betcoin.ag were subjected to a couple of days ago :



And we're back !

newbie
Activity: 48
Merit: 0

Dear BitBet users,

We are currently experiencing a DDOS attack very similar to the one our colleagues at
Betcoin.ag were subjected to a couple of days ago :

    https://bitcointalk.org/index.php?topic=386266.4420

Below is a cut and paste of the extortion request we received. We have no intention
to comply to their demands and we are working with our hosting provider on a technical
solution.

The Website will unfortunately be down for a while, but rest assured that all funds are
secured (the wallet is not on the site), and so is the site database which is mirrored
continuously to another machine.

As our email server is co-hosted with the web site, please communicate with us on this
thread.

Quote

WE HAVE YOUR SITE DOWN LETS TALK

Hello Support,

We are a team of highly skilled independent security consultants. One of your competitors hired us to take your site offline for an entire month (which we have the resources to do but don't like the contact and might be able to work together instead) and I must say that we have seen ALOT of miss-configured sites with security issues but it took our DB expert less then 30 minutes to dump your sql database without setting off your IDS system.

We want to disclose some of the flaws we found with you and have already put a significant amount of time in researching, exploiting and then documenting the vulnerabilities we found. Unfortunately, most site owners don't give a shit and would rather wait for more malicious hackers to come along. We are going to stop that from happening.

We are taking your site offline until we here from you. Our initial consultation will cost 1 BTC. That price will go up half a btc for every 12 hours we have to keep your site offline. I want to personally assure you that we have the power to keep your site down for an indefinite amount of time. We are the ones who took down xbox live all week (testing ONE of our new servers). In addition to lletting your site up and giving you a report of what we found and how to fix it we will also let you know the ONLY way to stop a DDos attack the size we are capable of launching. We will also add you to a blacklist so no one else fucks with you.

The BTC can be sent to the following address :
14U5q4AJhKiefui7f2d3ZmSq4FWkLfnDjK

I know that you are going to try to mitigate but in the end that is only going to cost you a lot more money. You make enough from betting and advertising alone that just an hour of downtime wont justify the cost. Our team also understands that you will try to mitigate but nothing will stop the attack except my command. Your hosting provider will not be able to help, the authorities wont be able to help you, your firewall is easily bypassed and any ddos service you try to bring in we can bring down (we have done this for a long time). believe it or not we are not the masked assholes stealing credit card numbers. Most of us have families and can't find legitimate jobs in our fields right now and have families to feed.

You have active bets and every minute you spend trying to mitigate your losing more then our consultation fee. We took down xbox live for a week with one server, believe me no one can stop our attacks. Lets work together!

Regards,

GETDD0sed

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