🌟🎲🌟 MoneyPot.com - page 22.

Michail1

legendary

Activity: 1499

Merit: 1164

Quote from: gapjustin on November 12, 2016, 08:03:26 AM

Quote from: gamblingbad on November 12, 2016, 07:58:42 AM

Quote from: gapjustin on November 12, 2016, 07:40:56 AM

Quote from: betmp on November 11, 2016, 10:49:57 AM

How did this bet got accepted? Bet of 50,000 bits attempted to win 500 bitcoins...
https://www.moneypot.com/bets/631806614

Oh wow that's me
My assumption is that it has to do with the chance to actually win lol
I think the max bet is HE * BR and 50k bits certainly is below that

sane people not want take your bet

a 0.00002384185791015625% winchance bet?
Pretty sure people accept those
also known as lotteries.

Well, not if you consider:

Quote from: Dogedigital on October 26, 2016, 07:24:47 AM

20 BTC Max win in a single bet cap will go live today.

If you could win more than 20BTC, it goes above the amount in the above statement.
Although the odds are very against you winning, it shouldn't have been accepted (as I understand it).

This was put into place probably specifically because of the 'Nottardy' win:
0.0000071711838245391846% - 9bits to win 95BTC

So, even though your chance was only
0.00002384185791015625% it would have basically bankrupt the site.

(Even a real casino will not bet The Casino on a single bet (no matter how low the risk).)

gapjustin

full member

Activity: 143

Merit: 100

Quote from: Text on November 12, 2016, 08:23:46 AM

Quote from: Bit-Exo.com on November 11, 2016, 11:35:45 PM

You can invest by going to https://www.moneypot.com/investment. Minimum investment is 1 satoshi, altho you need to invest more for a chance at profits.

Thank you so much for providing the link, follow up question. Does anyone here is already earning? Is it worth it? Can someone explain me the process so I can understand carefully how it works? So i need to deposit first. What are the risks and rewards?

Basically here's what happens
Someone wins a bet -> your investment goes down
Someone loses a bet -> your investment goes up
The chance that someone loses is higher than the chance he wins.

You invest by doing the following:
Deposit BTC into moneypot
Head to https://www.moneypot.com/investment
use the invest option there
hit invest

Then just wait.

Text

hero member

Activity: 2464

Merit: 594

Quote from: Bit-Exo.com on November 11, 2016, 11:35:45 PM

You can invest by going to https://www.moneypot.com/investment. Minimum investment is 1 satoshi, altho you need to invest more for a chance at profits.

Thank you so much for providing the link, follow up question. Does anyone here is already earning? Is it worth it? Can someone explain me the process so I can understand carefully how it works? So i need to deposit first. What are the risks and rewards?

gapjustin

full member

Activity: 143

Merit: 100

Quote from: gamblingbad on November 12, 2016, 07:58:42 AM

Quote from: gapjustin on November 12, 2016, 07:40:56 AM

Quote from: betmp on November 11, 2016, 10:49:57 AM

How did this bet got accepted? Bet of 50,000 bits attempted to win 500 bitcoins...
https://www.moneypot.com/bets/631806614

Oh wow that's me
My assumption is that it has to do with the chance to actually win lol
I think the max bet is HE * BR and 50k bits certainly is below that

sane people not want take your bet

a 0.00002384185791015625% winchance bet?
Pretty sure people accept those
also known as lotteries.

gamblingbad

hero member

Activity: 568

Merit: 500

https://bit-exo.com/?ref=gamblingbad

Quote from: gapjustin on November 12, 2016, 07:40:56 AM

Quote from: betmp on November 11, 2016, 10:49:57 AM

How did this bet got accepted? Bet of 50,000 bits attempted to win 500 bitcoins...
https://www.moneypot.com/bets/631806614

Oh wow that's me
My assumption is that it has to do with the chance to actually win lol
I think the max bet is HE * BR and 50k bits certainly is below that

sane people not want take your bet

gapjustin

full member

Activity: 143

Merit: 100

Quote from: betmp on November 11, 2016, 10:49:57 AM

How did this bet got accepted? Bet of 50,000 bits attempted to win 500 bitcoins...
https://www.moneypot.com/bets/631806614

Oh wow that's me
My assumption is that it has to do with the chance to actually win lol
I think the max bet is HE * BR and 50k bits certainly is below that

gamblingbad

hero member

Activity: 568

Merit: 500

https://bit-exo.com/?ref=gamblingbad

Quote from: betmp on November 11, 2016, 10:49:57 AM

How did this bet got accepted? Bet of 50,000 bits attempted to win 500 bitcoins...
https://www.moneypot.com/bets/631806614

Thats insane. How can invest alot if someone can win all in one bet?

dooglus

legendary

Activity: 2940

Merit: 1333

Quote from: RHavar on November 10, 2016, 03:49:13 PM

Quote from: dooglus on November 10, 2016, 03:04:20 PM

They can't risk using that 100 BTC to pay out winners, because they need to keep it in reserve to pay me back at the end of the year.

Well, I think that constraint needs to be relaxed for fixed-interest investing to make sense.

Let's say I borrowed 1000 BTC from you at 3% interest over a year. I throw that 1000 BTC in my bankroll, knowing that I can attract more action on my site. Even if a whale wins a lot of that money in the short term, he (or someone else) will probably maybe lose it back to the site. If everything goes well after a year, I give you back 1030 BTC and profited from the increased action on my site. If things go badly, I need to refinance the loan or declare bankruptcy. Tongue

I would be better off investing the money in the bankroll myself (assuming an expected >3% return) if you're going to pass on any losses to me.

Quote from: RHavar on November 10, 2016, 03:49:13 PM

It doesn't sound particularly appealing for investors (and even stressing on MP's behalf, as it would effectively imply fractional reserving and needing to worry about bank runs and blah blah), but in the real world there are billions of dollars of loans/investments built on pretty similar principles

We already have too many sites that we suspect are risking more than they can sensibly afford to risk, and others with possible solvency issues. I think MoneyPot aims to size their max bets properly and also to maintain solvency. I can't imagine that their "fixed investment" idea involves taking risks that could end up bankrupting them.

Clearly lots of real world investments do exactly that, but when things go wrong they are "too big to fail" and get bailed out at public expense. I don't think modelling MoneyPot on such real world fractional reserve disasters is helpful.

dooglus

legendary

Activity: 2940

Merit: 1333

Quote from: ranlo on November 11, 2016, 12:06:00 AM

If investing wasn't risky, nobody would ever need an investment. The whole point behind it is to help lessen the personal risk, otherwise why would you give everyone else guaranteed income when you could have taken it all for yourself? NO investment is guaranteed.

I see things the same way. What I'm trying to understand is what you have in mind for the 'fixed' investment. Dogedigital described it like this:

Quote from: Dogedigital on March 30, 2016, 12:54:16 PM

It'll be a set % roi by the term you select for those wishing to have a constant and steady source of positive investment rather than 'gamble' with the volatility of the house bankroll.

That doesn't sound risky. How are you planning to offer a steady positive return without volatility? That's what I'm asking about.

Bit-Exo.com

hero member

Activity: 1638

Merit: 573

Quote from: Text on November 11, 2016, 11:28:08 PM

Anyone here can guide me how to invest for this site? I am interested. Is there a minimum amount of bitcoins for the initial capital? I trust this one, it seems a lot of gamble site here was linked here. I want to try and to know how it works.

You can invest by going to https://www.moneypot.com/investment. Minimum investment is 1 satoshi, altho you need to invest more for a chance at profits.

Text

hero member

Activity: 2464

Merit: 594

Anyone here can guide me how to invest for this site? I am interested. Is there a minimum amount of bitcoins for the initial capital? I trust this one, it seems a lot of gamble site here was linked here. I want to try and to know how it works.

Dogedigital

legendary

Activity: 1330

Merit: 1000

Quote from: RHavar on October 28, 2016, 12:13:56 PM

Quote from: Dogedigital on October 28, 2016, 11:33:43 AM

Our main cold wallet address is (3AYbZfXJVFVWsDrRdP1SGG9E9wzm36tCUK) [we apologize because it keeps changing] with the rest being split up between hot wallet, an intermediate wallet for controlling the hot wallet, private multi-sig contracts for safer holding for bigger investors, and mixing addresses for cold deposits.

Not a problem that it keeps changing, but you might want to update:

https://www.moneypot.com/proof-of-assets.txt

Along with the signed message, so people have a place to go to, to check you really do control the address and the balances.

Thanks for the tip Ryan. I'll have that changed with our next push.

edit; The signed message has always been a hiccup though because of the multi-sig setup and the constant change addresses. It would require extracting the private key and a lot of work. If at any time someone wants to verify that we control it, we can always send a specific dust transaction.

DarkStar_

legendary

Activity: 2772

Merit: 3282

I'm having problems with an app. I forked autodice on GitHub, which worked when you went to the github page, but after I changed my app.js, the app just loads a black screen. I've also seen another fork of the script with only changes to the app.js which works, yet mine doesn't. Here is the app.js. Anyone mind taking a look to see what the problem is? Testing on darkstarftw.github.io

zero1ten

full member

Activity: 140

Merit: 100

I invested some btc on this site. Waiting for at least a month to see if it's worth it.

Dogedigital

legendary

Activity: 1330

Merit: 1000

Quote from: Lanzador on October 28, 2016, 01:28:18 AM

Quote from: Dogedigital on October 27, 2016, 11:57:43 PM

Quote from: Lanzador on October 27, 2016, 11:20:06 PM

Quote from: Dogedigital on October 27, 2016, 11:05:45 PM

Quote from: dogtor on October 27, 2016, 09:17:02 PM

Moneypot just likes to lose and lose. Something is clearly up here...

We are only statistically 10 btc below equity.

Variance has leaned the players' way for the last few days but its not hard to do when several hundred bitcoin is being wagered over the course of minutes in some sessions.

Realistically, Moneypot would prefer a slow and steady investor profit that follows the theoretical expected value of the bets placed but variance can not be tamed.

Any irregular jumps either end up in the players thinking the site is rigged or the investors thinking they're getting swindled.

Luckily though Moneypot has verifiable provable fairness for players and all player stats and bet information is public for investors (we are also working on a blog that shows more detailed logs of big wins so that investors have an easier and more clear picture of whats been going on).

That's all well and good, but of course provides no guarantee that those who knows the rolls ahead of time don't use this knowledge to simply use investor funds as their own personal bank account

That is true but we can use deductive reasoning from the information provided to consider the likeliness of this happening.

Take example the 2 big winning players today:

One is a high volume player using autobet. For this to be labelled as you explained, It would require us to imitate this player (which could easily be exposed) or for us to be the player the whole time (which would mean that we'd still be down roughly 200 bitcoin).

The second is a recent jackpot winner whom has been splashing around heavily with his or her winnings. The whole session log was posted above where you can clearly see the time difference between bets. It is almost humanly impossible to calculate the result, adjusting for the dynamic seeds and increase the wagers the way that it was done all within the time difference of the bets.

I'm not saying this is definitive or concrete proof that this dismisses your theory completely, but we make the information and resources available for you to make the best decision as to whats going on so one can not just simply cry wolf.

No crying wolf here - merely a devil's advocate. Especially since y'all don't publish proof of assets or liabilities, and the addresses you list as cold storage are empty.

(Sorry if it seems like I'm attacking y'all - I'm not, I've been a MP member since you guys took over. Merely calling the facts as I see they stand)

We don't fault you for playing devil's advocate. We encourage users to use the information and resources available to do their homework.

We've always published proof of liabilities. You can check it at anytime here (https://www.moneypot.com/proof-of-liabilities.txt) [updated daily but not dynamic]

Our main cold wallet address is (3AYbZfXJVFVWsDrRdP1SGG9E9wzm36tCUK) [we apologize because it keeps changing] with the rest being split up between hot wallet, an intermediate wallet for controlling the hot wallet, private multi-sig contracts for safer holding for bigger investors, and mixing addresses for cold deposits.

Glad that you've been a loyal member of Moneypot

Lanzador

full member

Activity: 140

Merit: 100

Quote from: DarkStar_ on November 11, 2016, 11:14:58 AM

Quote from: betmp on November 11, 2016, 10:49:57 AM

How did this bet got accepted? Bet of 50,000 bits attempted to win 500 bitcoins...
https://www.moneypot.com/bets/631806614

I'd like to know this too, as since it was a 1.08% house edge, the maximum risk should a be ~7 BTC max win.

Fixed now....but how many bets have been accepted similar to this?

Dogedigital

legendary

Activity: 1330

Merit: 1000

Quote from: Lanzador on October 27, 2016, 11:20:06 PM

Quote from: Dogedigital on October 27, 2016, 11:05:45 PM

Quote from: dogtor on October 27, 2016, 09:17:02 PM

Moneypot just likes to lose and lose. Something is clearly up here...

We are only statistically 10 btc below equity.

Variance has leaned the players' way for the last few days but its not hard to do when several hundred bitcoin is being wagered over the course of minutes in some sessions.

Realistically, Moneypot would prefer a slow and steady investor profit that follows the theoretical expected value of the bets placed but variance can not be tamed.

Any irregular jumps either end up in the players thinking the site is rigged or the investors thinking they're getting swindled.

Luckily though Moneypot has verifiable provable fairness for players and all player stats and bet information is public for investors (we are also working on a blog that shows more detailed logs of big wins so that investors have an easier and more clear picture of whats been going on).

That's all well and good, but of course provides no guarantee that those who knows the rolls ahead of time don't use this knowledge to simply use investor funds as their own personal bank account

That is true but we can use deductive reasoning from the information provided to consider the likeliness of this happening.

Take example the 2 big winning players today:

One is a high volume player using autobet. For this to be labelled as you explained, It would require us to imitate this player (which could easily be exposed) or for us to be the player the whole time (which would mean that we'd still be down roughly 200 bitcoin).

The second is a recent jackpot winner whom has been splashing around heavily with his or her winnings. The whole session log was posted above where you can clearly see the time difference between bets. It is almost humanly impossible to calculate the result, adjusting for the dynamic seeds and increase the wagers the way that it was done all within the time difference of the bets.

I'm not saying this is definitive or concrete proof that this dismisses your theory completely, but we make the information and resources available for you to make the best decision as to whats going on so one can not just simply cry wolf.

Dogedigital

legendary

Activity: 1330

Merit: 1000

Quote from: Emerge on November 11, 2016, 11:44:01 AM

It's not easy to navigate the posts here, but is API V2 Cross compatible with API v1? Or will we have to completely rebuild the current apps?

------------------

Quote from: crazycraig

V2 will have the same API methods as V1. The same routes will exist, just with added routes.

For an app to migrate to V2, they will need to update endpoint from API.Moneypot.com/V1 to URL/V2.

It should be as simple as switching hte API endpoint

We will have it setup with both being compatible for a temporary period and will help with the transition for existing app owners. After a short while, the V1 api will expire.

Emerge

legendary

Activity: 854

Merit: 1000

It's not easy to navigate the posts here, but is API V2 Cross compatible with API v1? Or will we have to completely rebuild the current apps?

Dogedigital

legendary

Activity: 1330

Merit: 1000

Currently working on a fix now.

Edit; Bug Bounty has been rewarded for the tip.

Topic: 🌟🎲🌟 MoneyPot.com - page 22. (Read 119068 times)