Moneypot or Bitdice - page 3. | Bitcointalksearch.org

ranlo

legendary

Activity: 1988

Merit: 1007

Quote from: mixan on April 17, 2016, 12:58:52 PM

Never tried moneypot as that one is the confusing one to me.
dice games are easy. You pick your odds of rolling winning number, you press roll , then you either win or lose. That is simplest thing in the world to understand. Moneypot on the other hand looks to be too confusing for the novice person to this new bitcoin gambling market.

MP is pretty easy. To break it down:

Think of MP as being like ALL the casinos in Vegas under one umbrella. Instead of investing in MGM, you invest in MP. Now you've invested into MGM, New York, etc. all at once, all of which are using a central bankroll. So instead of investing in one site, you're investing in many.

dogedice.me

hero member

Activity: 776

Merit: 522

Quote from: lclclc223 on April 17, 2016, 04:41:14 PM

Quote from: RHavar on April 17, 2016, 04:22:16 PM

Quote from: lclclc223 on April 17, 2016, 11:37:11 AM

Everybody keeps saying that there are risks involved with investing, but I'm not sure I understand where they're coming from. Is it that they might lost money in the short run, or because they could leave with your money?

Both. And short run can also be long run. There's no guarantee that a site will have continued volume, or after the bankroll drops you might get diluted out.

Here should be a sobering graph of some of the risks involved:

...and there's sites that have done a lot worse (like been hacked). If you're investing more than a few percent of your money, you're just gambling yourself =)

Did that bet not violate the kelly? Or was the bankroll large enough? Also, the profit was still positive, right?

Hey,

It's not, our system will not allow any bet higher than the risked amount. And it recalculates real-time.
Yes, current profit is ~730BTC, at the time our player won ~550BTC our profit was around ~500. We've never been in negative profit.

If you have any question about investments, do not hesitate to ask in chat or by email: [email protected] I will explain everything in great detail.

PS: Also new version of the site is coming, which will significantly change the market Wink

Regards,
Alex

RHavar

legendary

Activity: 1463

Merit: 1886

Quote from: lclclc223 on April 17, 2016, 04:41:14 PM

Did that bet not violate the kelly?

Nope, it was an aggressive series of kelly-compliant bets. Or think about it this way, there's no point having a 1000 BTC bankroll if you're not risking 1000 BTC. If the biggest loss was 100 BTC, you'd only need 100 BTC bankroll.

lclclc223

full member

Activity: 174

Merit: 100

Quote from: RHavar on April 17, 2016, 04:22:16 PM

Quote from: lclclc223 on April 17, 2016, 11:37:11 AM

Everybody keeps saying that there are risks involved with investing, but I'm not sure I understand where they're coming from. Is it that they might lost money in the short run, or because they could leave with your money?

Both. And short run can also be long run. There's no guarantee that a site will have continued volume, or after the bankroll drops you might get diluted out.

Here should be a sobering graph of some of the risks involved:

...and there's sites that have done a lot worse (like been hacked). If you're investing more than a few percent of your money, you're just gambling yourself =)

Did that bet not violate the kelly? Or was the bankroll large enough? Also, the profit was still positive, right?

Dogedigital

legendary

Activity: 1330

Merit: 1000

Quote from: lclclc223 on April 17, 2016, 03:33:26 PM

So, um, did moneypot not exist 4 months ago?

It has been in operation for over a year. However, ~4 months ago, ownership changed hands and all stats were reset.

The numbers that I mentioned above are the new stats since the change.

RHavar

legendary

Activity: 1463

Merit: 1886

Quote from: lclclc223 on April 17, 2016, 11:37:11 AM

Everybody keeps saying that there are risks involved with investing, but I'm not sure I understand where they're coming from. Is it that they might lost money in the short run, or because they could leave with your money?

Both. And short run can also be long run. There's no guarantee that a site will have continued volume, or after the bankroll drops you might get diluted out.

Here should be a sobering graph of some of the risks involved:

...and there's sites that have done a lot worse (like been hacked). If you're investing more than a few percent of your money, you're just gambling yourself =)

lclclc223

full member

Activity: 174

Merit: 100

So, um, did moneypot not exist 4 months ago?

Dogedigital

legendary

Activity: 1330

Merit: 1000

Quote from: lclclc223 on April 17, 2016, 12:53:06 PM

So what have the returns been historically? In the range of...

Moneypot's numbers are only for just over the last four months. There's ~400 Bitcoin in the bankroll and a profit of ~100 Bitcoin. This would mean that if the bankroll was steady at these numbers, investors would have seen a more than roughly 25% increase on their initial investment in this short time.

mixan

legendary

Activity: 966

Merit: 1000

TRUMP IS DOING THE BEST! MAKE AMERICA GREAT AGAIN!

Never tried moneypot as that one is the confusing one to me.
dice games are easy. You pick your odds of rolling winning number, you press roll , then you either win or lose. That is simplest thing in the world to understand. Moneypot on the other hand looks to be too confusing for the novice person to this new bitcoin gambling market.

lclclc223

full member

Activity: 174

Merit: 100

So what have the returns been historically? In the range of...

DarkStar_

legendary

Activity: 2772

Merit: 3282

Quote from: lclclc223 on April 17, 2016, 11:37:11 AM

Everybody keeps saying that there are risks involved with investing, but I'm not sure I understand where they're coming from. Is it that they might lost money in the short run, or because they could leave with your money?

You might lose money, a lot of money in the short run. A lucky gambler recently won 100+ BTC out of the 130 BTC bankroll, resulting in a huge loss for investors. MP investor profit also went from ~+20 BTC to ~-40 BTC a few months ago. A lot could happen with variance. Both things you said are exactly the risks, not much more that can happen other then the site getting hacked and funds are stolen.

Regarding your original question:
(Please note that I have invested in Moneypot and still do sometimes, and I haven't tried BitDice at all, so my answer might be slightly biased.)
I like investing in MoneyPot. It's simple, and easy to do. MP profit seems to be a bit more crazy then other site, probably because of all the different apps. It could jump up a lot overnight, or fall a lot, but it usually will recover pretty quickly, and you can come out with profit. It's more risky though, but has a higher reward.

BTCLovingDude

legendary

Activity: 1134

Merit: 1010

BTC to the moon is inevitable...

Quote from: lclclc223 on April 17, 2016, 11:37:11 AM

Everybody keeps saying that there are risks involved with investing, but I'm not sure I understand where they're coming from. Is it that they might lost money in the short run, or because they could leave with your money?

both.
generally speaking investing involves taking risks, these risks can be because what you invest in turns out to be a scam and run away or more commonly can be because what you have invested in didn't make any profit and lost money instead in the meanwhile.

in gambling both can be true and for the loss, when you invest in a bankroll you are sharing in the win or loss of the house which means if a gambler loses money you earn profit and if the gambler wins you lose money.

erwin45hacked

legendary

Activity: 1064

Merit: 1000

Quote from: lclclc223 on April 17, 2016, 11:37:11 AM

Everybody keeps saying that there are risks involved with investing, but I'm not sure I understand where they're coming from. Is it that they might lost money in the short run, or because they could leave with your money?

Any operator could run with your money because you let them keep it and the second will be variances. You will never know when the variances will hit the house real hard. Safedice bankroll got reduced by over 100 btc when some lucky gambler managed to win huge from the site so it is not really guaranteed profit even with house edge however in long term, most likely there will always be profit

lclclc223

full member

Activity: 174

Merit: 100

Everybody keeps saying that there are risks involved with investing, but I'm not sure I understand where they're coming from. Is it that they might lost money in the short run, or because they could leave with your money?

Nahl

legendary

Activity: 1652

Merit: 1000

Quote from: lclclc223 on April 16, 2016, 09:05:36 PM

Which site is better to invest in? I tried reading the rules for betdice but got confused...

if i have to choice from those sites moneypot is the best because these sites also very popular here
and also i didn't see any problem regarding withdrawal and deposit on moneypot till now

lite

legendary

Activity: 1400

Merit: 1009

Quote from: lclclc223 on April 16, 2016, 09:05:36 PM

Which site is better to invest in? I tried reading the rules for betdice but got confused...

I would advice not to invest in any of the gambling site, it's same as gambling there's no guarantee that you'll profit.

Quote from: faridkifly on April 17, 2016, 11:06:05 AM

i dont know dude.
but in my opinion none good place to invest over the place related to gambling. Huh

there are many good sites like betking,mp etc.

faridkifly

sr. member

Activity: 294

Merit: 250

i dont know dude.
but in my opinion none good place to invest over the place related to gambling. Huh

ABCbits

legendary

Activity: 2870

Merit: 7490

Crypto Swap Exchange

I would choice MoneyPot because it's more trust-able since many gambling websites use MoneyPot service and as far as i know MoneyPot has good history.
But, invest money on any casino is very risky Sad

Bagus Tubagus

sr. member

Activity: 322

Merit: 250

Quote from: AcoinL.L.C on April 17, 2016, 10:17:07 AM

Quote from: Bagus Tubagus on April 17, 2016, 09:57:38 AM

many websites supporting investing, also betking.io, crypto-games.net, safedice.com

Safedice is insolvent, would highly suggest not investing there.

(And a scam accusation from a player who won over 100 BTC)

Damn just read it in their thread.

AcoinL.L.C

legendary

Activity: 1036

Merit: 1000

Quote from: Bagus Tubagus on April 17, 2016, 09:57:38 AM

many websites supporting investing, also betking.io, crypto-games.net, safedice.com

Safedice is insolvent, would highly suggest not investing there.

(And a scam accusation from a player who won over 100 BTC)

Topic: Moneypot or Bitdice - page 3. (Read 3497 times)