MoneyPot.com :: The bitcoin gambling wallet - page 14.

hua_hui

legendary

Activity: 1386

Merit: 1016

Quote from: crairezx20 on October 25, 2015, 03:06:40 PM

I just curious what is the use of invest and dinvest of moneypot .com
Invest you can have interest 1% every day just like that?

it is like an invesment. in this case, it is like you put your money into a pool for people to gamble. when they win, they will take the money from this pool and everyone will loss a portion of their investment depending on big % is their contribution to the whole pool. similarly, when the player lose, you get to keep a portion of the bet base on the %.

crairezx20

legendary

Activity: 1638

Merit: 1046

I just curious what is the use of invest and dinvest of moneypot .com
Invest you can have interest 1% every day just like that?

win win win

sr. member

Activity: 277

Merit: 255

Things are looking great! I have increased my investment

ranlo

legendary

Activity: 1988

Merit: 1007

Quote from: ?? on ??

Quote from: ranlo on October 23, 2015, 11:40:43 PM

Do you have it set up to where fees and such go to a separate account than your personal investment one? Kind of trying to grasp why there's such a big difference in what the site has/owes,

.

I guess the thing to note is that the "proof-of-assets" money is merely money to prove I'm solvent, not the exact sites assets. e.g. If you deposit 1 BTC, the sites assets (and liabilities) do go up by 1 BTC, but the money you see on proof of assets is going to be unchanged. Only when the public assets are less than the liabilities, will I dump more money into that address (or might source from it, if there's a run on the site)

I don't provide exact proof of assets, as that would defeat a lot of the builtin privacy features of MoneyPot and it's not particularly important to show which bitcoins I own, but it's extremely important to show that I do own enough bitcoins (to prevent nonsense like operating while insolvent, or even running a ponzi)

Ahhh, got you. Thanks for clarification! That makes sense, and explains a lot,

.

cazkooo

legendary

Activity: 1540

Merit: 1013

Quote from: hua_hui on October 24, 2015, 10:43:23 AM

woa now den i noe he has so much btc!!!! woa, how i wish i can have that amount too!!!!

Not only 223 but he has more. The first name in the proof of liabilities is his as well so add that plus the bankroll for bustabit now is 656 btc. So you can say he has maybe more than 1k btc in total right now. This is only estimation of the lowest number and you dont even know how much he has on his bank account . Grin

hua_hui

legendary

Activity: 1386

Merit: 1016

Quote from: ranlo on October 23, 2015, 09:19:00 PM

Quote from: ?? on ??

Quote from: Pony789 on October 23, 2015, 07:28:35 PM

The "proof of liabilities" list hasn't been updated for more than a week it seems. It is not a big issue so you could leave it behind and fix it when you are back. Have a nice trip.

Thanks, and thanks for reminding me. I've updated it now, showing 777 BTC of liabilities on 1000 btc of assets =)

Does this essentially mean that 223 BTC of it is yours, and the site essentially has 25% more money than is needed to pay off all debtors?

woa now den i noe he has so much btc!!!! woa, how i wish i can have that amount too!!!!

ranlo

legendary

Activity: 1988

Merit: 1007

Quote from: ?? on ??

Quote from: Pony789 on October 23, 2015, 09:27:18 PM

Don't forget that the first account shown in https://www.moneypot.com/proof-of-liabilities.txt belongs to Ryan (he mentioned that somewhere in this thread in the past), so the actual liabilities (that is the total account balance of all MP users) of moneypot would be more like 777 - 170 = 607 btc.

Yes, that is correct, I'm the first in that list =)

Sometimes it's a bit tricky, but I do try keep a clear distinction between the site as an entity and me personally. So I'd definitely say the sites liability is actually 777 btc =) For all intents and purposes, I'm just a normal investor/creditor (although the only one who enjoys no counterparty risk)

Quote from: ranlo on October 23, 2015, 09:19:00 PM

Does this essentially mean that 223 BTC of it is yours, and the site essentially has 25% more money than is needed to pay off all debtors?

Well, from the sites perspective, I'm just a normal creditor and would be treated as such. It's also important that my investment is covered by the proof of solvency, or there would be nothing would prevent me hiding I was insolvent (or faking a bankroll, or running a ponzi)

Do you have it set up to where fees and such go to a separate account than your personal investment one? Kind of trying to grasp why there's such a big difference in what the site has/owes,

.

ranlo

legendary

Activity: 1988

Merit: 1007

Quote from: Pony789 on October 23, 2015, 09:27:18 PM

Quote from: ranlo on October 23, 2015, 09:19:00 PM

Quote from: ?? on ??

Quote from: Pony789 on October 23, 2015, 07:28:35 PM

The "proof of liabilities" list hasn't been updated for more than a week it seems. It is not a big issue so you could leave it behind and fix it when you are back. Have a nice trip.

Thanks, and thanks for reminding me. I've updated it now, showing 777 BTC of liabilities on 1000 btc of assets =)

Does this essentially mean that 223 BTC of it is yours, and the site essentially has 25% more money than is needed to pay off all debtors?

Don't forget that the first account shown in https://www.moneypot.com/proof-of-liabilities.txt belongs to Ryan (he mentioned that somewhere in this thread in the past), so the actual liabilities (that is the total account balance of all MP users) of moneypot would be more like 777 - 170 = 607 btc.

Yeah, I consider his personal investment as part of his liabilities, though (I guess it depends on how you look at it, but I view his company as being separate from his personal investments).

Pony789

hero member

Activity: 882

Merit: 1000

Quote from: ranlo on October 23, 2015, 09:19:00 PM

Quote from: ?? on ??

Quote from: Pony789 on October 23, 2015, 07:28:35 PM

The "proof of liabilities" list hasn't been updated for more than a week it seems. It is not a big issue so you could leave it behind and fix it when you are back. Have a nice trip.

Thanks, and thanks for reminding me. I've updated it now, showing 777 BTC of liabilities on 1000 btc of assets =)

Does this essentially mean that 223 BTC of it is yours, and the site essentially has 25% more money than is needed to pay off all debtors?

Don't forget that the first account shown in https://www.moneypot.com/proof-of-liabilities.txt belongs to Ryan (he mentioned that somewhere in this thread in the past), so the actual liabilities (that is the total account balance of all MP users) of moneypot would be more like 777 - 170 = 607 btc.

ranlo

legendary

Activity: 1988

Merit: 1007

Quote from: ?? on ??

Quote from: Pony789 on October 23, 2015, 07:28:35 PM

The "proof of liabilities" list hasn't been updated for more than a week it seems. It is not a big issue so you could leave it behind and fix it when you are back. Have a nice trip.

Thanks, and thanks for reminding me. I've updated it now, showing 777 BTC of liabilities on 1000 btc of assets =)

Does this essentially mean that 223 BTC of it is yours, and the site essentially has 25% more money than is needed to pay off all debtors?

Pony789

hero member

Activity: 882

Merit: 1000

Quote from: ?? on ??

I'll be traveling this weekend, and likely with intermittent internet access. Support tickets will be handled a bit slow (i'll try prioritize the more important ones first) and if the hot wallet runs out, I can't promise to refill it instantly (although I'll do my best, and put as much as I sanely can it in now).

If any large investors want to make sure there's funds to process their withdrawal, best to do it now =)

(I don't actually think there's going to be any problems, though.)

The "proof of liabilities" list hasn't been updated for more than a week it seems. It is not a big issue so you could leave it behind and fix it when you are back. Have a nice trip.

ranlo

legendary

Activity: 1988

Merit: 1007

Quote from: ?? on ??

I'll be traveling this weekend, and likely with intermittent internet access. Support tickets will be handled a bit slow (i'll try prioritize the more important ones first) and if the hot wallet runs out, I can't promise to refill it instantly (although I'll do my best, and put as much as I sanely can it in now).

If any large investors want to make sure there's funds to process their withdrawal, best to do it now =)

(I don't actually think there's going to be any problems, though.)

I'd just run the hot wallet like you normally do -- not add a lot more to it. I'm sure many are like me and prefer safety over risk. A little inconvenience is a lot better than loss.

ranlo

legendary

Activity: 1988

Merit: 1007

Quote from: hua_hui on October 20, 2015, 12:44:25 AM

Quote from: RHavar on October 19, 2015, 07:31:48 PM

Quote from: NBward6 on October 19, 2015, 07:28:11 PM

When I withdraw from Moneypot my wallet says "This transaction is not standard and should not be trusted." Why is that? I'm using multibit.

This is probably more of a question for multibit devs, but two possible reasons I can think of:

A) multibit incorrectly thinks that using nlocktime is non-standard
b) a (malicious) bitcoin node modified the withdrawal transaction, and your client saw the incorrect one (with the high s value)

Either way, there's nothing to worry about. MoneyPot only sends out standard transactions, and it'll confirm like normal, and show up in your spendable balance.

yah, i also want to vouch that so far my a few week of moneypot is pleasant. i have tried to despoit btc, without btc, invest, divest all works. I have yet to try out the gamble.

Gambling is a site-by-site thing, although results go through MP. So it's kind of a YMMV thing there.

hua_hui

legendary

Activity: 1386

Merit: 1016

Quote from: RHavar on October 19, 2015, 07:31:48 PM

Quote from: NBward6 on October 19, 2015, 07:28:11 PM

When I withdraw from Moneypot my wallet says "This transaction is not standard and should not be trusted." Why is that? I'm using multibit.

This is probably more of a question for multibit devs, but two possible reasons I can think of:

A) multibit incorrectly thinks that using nlocktime is non-standard
b) a (malicious) bitcoin node modified the withdrawal transaction, and your client saw the incorrect one (with the high s value)

Either way, there's nothing to worry about. MoneyPot only sends out standard transactions, and it'll confirm like normal, and show up in your spendable balance.

yah, i also want to vouch that so far my a few week of moneypot is pleasant. i have tried to despoit btc, without btc, invest, divest all works. I have yet to try out the gamble.

ranlo

legendary

Activity: 1988

Merit: 1007

Quote from: RHavar on October 19, 2015, 07:31:48 PM

Quote from: NBward6 on October 19, 2015, 07:28:11 PM

When I withdraw from Moneypot my wallet says "This transaction is not standard and should not be trusted." Why is that? I'm using multibit.

This is probably more of a question for multibit devs, but two possible reasons I can think of:

A) multibit incorrectly thinks that using nlocktime is non-standard
b) a (malicious) bitcoin node modified the withdrawal transaction, and your client saw the incorrect one (with the high s value)

Either way, there's nothing to worry about. MoneyPot only sends out standard transactions, and it'll confirm like normal, and show up in your spendable balance.

Just want to vouch. Never had an issue with withdrawals, so don't worry.

NBward6

newbie

Activity: 28

Merit: 0

Thanks for the quick reply, I assumed it was probably fine but it never hurts to check. It confirmed immediately and is all good, thanks again.

RHavar

legendary

Activity: 1463

Merit: 1886

Quote from: NBward6 on October 19, 2015, 07:28:11 PM

When I withdraw from Moneypot my wallet says "This transaction is not standard and should not be trusted." Why is that? I'm using multibit.

This is probably more of a question for multibit devs, but two possible reasons I can think of:

A) multibit incorrectly thinks that using nlocktime is non-standard
b) a (malicious) bitcoin node modified the withdrawal transaction, and your client saw the incorrect one (with the high s value)

Either way, there's nothing to worry about. MoneyPot only sends out standard transactions, and it'll confirm like normal, and show up in your spendable balance.

NBward6

newbie

Activity: 28

Merit: 0

When I withdraw from Moneypot my wallet says "This transaction is not standard and should not be trusted." Why is that? I'm using multibit.

ranlo

legendary

Activity: 1988

Merit: 1007

Quote from: hua_hui on October 18, 2015, 12:26:20 PM

Quote from: cazkooo on October 18, 2015, 07:08:40 AM

Quote from: hua_hui on October 18, 2015, 06:46:02 AM

Quote from: Jungian on October 18, 2015, 05:40:43 AM

Investor Profit: +116,562,942 bits
Bets: 116,626,214

Pretty nice correlation

haha yah, would be even better if we have the thousand within the same range too but i think i am asking too much. lol. hope the bets and profit will forever will going up and up! plz dont come down. lol.

Sometimes the profit going down is the best to attract more people to play. Imagine if the site keep winning and people keep losing, no one will want to play at such site again but so far most profit come from betterbets. They have got almost 250 btc profit and some other site have got over 50 btc combined

yup that sure will be up and down but i am talking about the general big picture of the profit and bets will be a linear line going upwards and not keep constant after months. the short terms up and down is totally acceptable.

Theoretically, it should be linear. The issue is the separation of low bettors and high rollers. The high rollers create a HUGE variance.

wearepoor

hero member

Activity: 784

Merit: 500

Moneypot.com is really useful and easy to handle wallet. The people behind the Moneypot are taking up risk free profit each time and there are people who wager on the site therefore the best thing would be that to hope people to win and keep on wagering. Apart from that because each apps is equipped with house edge, investor is assured that this is profitable in the long run, maybe i am wrong.

Topic: MoneyPot.com :: The bitcoin gambling wallet - page 14. (Read 77137 times)