Topic: 🌟🎲🌟 MoneyPot.com - page 52. (Read 119056 times)

You guys may want to look into removing the btc dragon sites (plinko and roulette).  The owner seems to have abandoned them, leaving behind a bunch of unpaid promos.

We have a nice bet on Vegas, a 5mbtc bet there win 1btc for this bet,

we are proud of this player

Read more on our thread: https://bitcointalksearch.org/topic/m.16057105

Agree with Dooglus, just fix the wording from:

"MoneyPot uses a fixed transaction fee that is specified by the user in the calculation of the actual transaction fee."
to
"MoneyPot uses the priority level that is specified by the user, and will be charge a fixed fee for the transaction.  Actual fee used in the transaction is dynamic and can vary based on transaction size and bitcoin network transaction activity"

And in the selection,
"Default - 200 bits (per kb)     Priority - 300 bits (per kb)"
to
"Default - Fee: 200 bits          Priority - Fee: 300 bits     "

Problem solved.

Yeah, I see. It's the wording you're objecting to.

JD says "0.001 CLAM will be deducted from the amount you type for use as a transaction fee" which also isn't strictly true. It will be used as a transaction fee, but not necessarily for *your* transaction.

It's not about that. MoneyPot is using a flat rate, because they have to bundle inputs for a transaction. Sometimes a transaction consists of just one input, which doesn't cost much, fee wise. Sometimes it consists of many small inputs, what would result in a very large fee. In that case you are still only paying the flat rate fee.

So over all the transactoins that MoneyPot processes, it averages out to about that flat fee. It's a win/win for both MoneyPot and it's costumers. Because the transactions with a lot of small inputs can be a big pain in the ass sometimes. It just gives the best user experience. Most of the time it is already included in the next block, so it is a good system. For the times it isn't included in the next block, you have to wait a bit more. Even with a higher fee, you have no guarantees.

Btw, people complained about this before. That's understandable, because the way they handle this, was not mentioned anywhere. Now you can read it on the 'Send' tab. It is just a implementation choice. And the best one in my opinion.

Thanks for killing my action.

My only issue is that if I say "send my transaction paying 300 bits for the fee" and you send the transaction with 240 bits for the fee, that rubs me the wrong way.  Even if the transaction gets confirmed in the next block.  It's the appearance of impropriety.  Even if 240 was all it took, and even if sometimes you charge me 300 and you spend 500, if I say "use 300", you should be using 300. 

It seems to me that a better way of doing it would be to say "do you want this medium priority or high priority" and showing the average fees each option takes, and then deducting the exact amount of the fees you pay (as directed by the customer) from the withdraw.

It is of course possible to create a transaction with any amount of fee that you want it to have. The raw transaction RPC interface of Bitcoin Core will let you do it, for example.

The point that you are missing is that you (the person requesting a withdrawal) don't know how big (in bytes) the transaction is going to be, since you don't know what UTXOs are in the sending wallet or how the coin selection is done. So you don't know what an appropriate fee would be.

All you know is how urgently you want the withdrawal to confirm.

So you specify the urgency, and the site sets the fee accordingly, based on how congested the blockchain currently is, based on the size of the transaction, based on the size of the mempool, and so on. Sometimes the fee included will be more than you pay and sometimes is will be less. On average it should balance out. The experience for the user is better that way - he pays 300 bits and gets a quick confirmation whether the blockchain is busy or not, and whether the site's wallet is mostly composed of dust outputs or not.

Yeah, seriously .0003 btc vs .0001 btc, that's a difference of what? 12 cents. If you don't like it, go suck PayPal's dick and let them bleed you dry with the $0.35 minimum fee + a percentage

As requested, I am tracking weekly return for anyone that's curious. Note that this assumes you did not ever divest over that period.

//All Returns Are Calculated at the Same Time Each Week//

Week of 08/19/2016: -1.31%

I still can't believe how many of these babies are crying about the TX fee.

These are the type of people that KNOW what the fee is and bitch about it afterwards.  If you don't like that fee, then don't withdraw or even deposit to begin with.  How on Earth can you be crying about 11cents.  If you're really that poor, then you shouldn't be gambling or investing in a gambling site to begin with.  Get over it.  Stop being pussies about spending 11cent.

For the prior people that have complained, please give me your bitcoin address and I will personally cover your 'losses' in tx fees.  (Note:  I don't even own any part of the site.)  OMG, these whiny children are amazing.

Also, for any of you kids that complain to any television station about having to pay Shipping/Handling fees on items you purchased (knowing full well what the cost was when you bought it) and find out the actual shipping was far less than you paid, I will double all your tx fee losses.  

I just hope I can afford all that bitcoin.

(yes, give me a list of your txs so that the fees can be calculated)

you can use bitcoin-cli createrawtransaction

I would note that it is ill-advisable to do what DarkDays is asking -- you will almost certainly end up spending a lot more money 'his' way, and it will probably create a much worse customer experience.

How exactly are you crafting the transaction using CLI? I've Googled. I've asked. I've explored. I've looked at all the documentation. Nothing talks about how to send with an exact amount -- only x per kb. Please elaborate since nobody else appears to know how.

I'm saying that I can send a transaction with any exact fee I'd like.  I can send .01BTC with a fee of .01BTC.  If I can do this, why can't a gambling site do this?

Considering we do manually set the fees and you are unwilling to look at the Bitcoin source code for confirmation of how it works, here's a more broken down version (in pure English): https://en.bitcoin.it/wiki/Transaction_fees

Are you saying that you believe that there is no way for you to manually set your fee when you send bitcoin?  Would you like to wager on this?

You clearly do not understand how Bitcoin works. I would suggest taking some time about how transaction fees works prior to complaining about what services pay for your withdrawal transactions in the future.

Based on many people I've spoken to, it doesn't appear that this is possible. BTC fees are based on transaction size and nothing else. The client lets you pick your fee per kb. The issue is you don't know how many kb you're using (or bytes) until after it's been created. Look at the Bitcoin Core code yourself for further verification, since you don't want to believe anyone else.

It's exactly how it should work.  If I say "take 300 bits out of my withdraw and use it to sent it", they should take exactly 300 bits and use it for the fees.  If it takes longer than a block, that's on me. 

For those concerned. We are in the processing of implementing a lower tx fee 50 bits for transactions that are not high priority. This has been on my todo list for sometime but other things have taken precedent. I will do my best to get this out in a timely manner.

That is not how it works. If MP were to take 300 bits as a fee, and include a 300 bit fee, they could potentially take a very large number of inputs, and use them to fund your withdrawal - this would result in your withdrawal transaction taking several blocks to confirm verses if only one input was used. It is also possible that the mempool is almost empty, and could include a transaction fee of 50 bits that results in the transaction confirming the very next block.

It is also possible that MP could contract with several of the major mining pools, never attach any transaction fee to their withdrawal transactions, yet their withdrawal transactions would almost always confirm within 1-2 blocks (they would most likely pay to get their transactions confirmed separately). For the super paranoid, it is also possible that MP charges you 300 bits on your withdrawal, contract with several mining pools, then receive a 100 bit refund from the pool that confirms the transaction (I do not think they are doing this).

I am not sure how the various transaction fees are described on the withdrawal page, however IMO they should be described that a withdrawal transaction that is estimated to be confirmed within 1-2 blocks will cost 300 bits, a withdrawal transaction that is estimated to be confirmed within 3-4 blocks will cost 200 bits, and so on. MP can charge amounts that they feel is most appropriate, and they might want to charge their prices occasionally depending on the long term costs of getting transactions confirmed.