Bitcoin Forum

So the May 1st bet was just resolved to "no" based on information from a forum post in 2012 about a product which was cancelled. Here is the "advertised performance" which was used to resolve the bet, https://forums.butterflylabs.com/announcements/16-announcement-bfl-asic-release-specifications.html


The May 1st bet was created on 30-03-2013. At that time, the Jalapeno had already been cancelled and replaced by the BitForce 5 GH/s SC.

So, here are the facts:

• BitBet allowed a bad bet to made, against their own policy set forth in their FAQ.
• BitBet intentionally misled its users by conspiring in an IRC channel to decide to include power consumption in the bet, then never bothered to make that vital information available to its users.
• The owners chose to base their decision on the specs of a cancelled product posted to a forum in 2012 and ignored all other posts made before the bet was created stating that those products had been cancelled and replaced, and that power consumption had changed.
• It has been claimed that BitBet owners allegedly bet 20 BTC on a "no" result.

I got ripped off by these scammers, I made a risky bet of 2BTC for "Yes" and should have won more than 10BTC.

I'm still in talks with a lawyer about this situation, we have now established that we have a strong case on this and are figuring out the best courses of action and costs of the possible lawsuit against bitbet.us

What worries me more is that the same group of people running the bitbet.us service seem to be running http://mpex.co/ and http://bit4x.com/ services too.

Just posted to http://www.reddit.com/r/BetterBitcoinBureau/comments/1dj0tq/bitbetus/ as well, which includes an email exchange I had with BitBet.us.

You two muppets apparently need to somehow learn that talking yourselves into a tizzy does not do anything of practical importance.

So: stahp! figure out what YOU did wrong, never do that again.

Also would help if you take the self-humiliatory step of making a detailed post delineating the mistakes you made, explaining just how stupid you are for not realizing sooner what mistakes you made, apologize for having made them and carry on with your lives with the benefit of being less stupid in the future.

I would perhaps be willing to help you with that. I won't be entertaining this sort of bullshit. Thanks & gl.

I've realised the mistake I made. It was using your scammy services. Rest assured I won't be doing that again.

Go invest in Pirate, it's better for you.

Why don't you try addressing the issues that have been raised, scammer.

Still no explanation, MPOE?

I have a few things to state here.

1. I created the bets for march, april, and may on bitbets.
2. I created may's bet prior to the information release about official changes to power/hashrate.
3. Of the 3 aforementioned bets i've created, and the thousands of BTC they've brought in for bitbets, I have never received my portion share of the bet as stated at http://bitbet.us/faq/ . I have literally received 0 btc from bitbets.
4. I contacted the site after the specs were changed, and asked to cancel/append the may bet. i received no response.

Lol, I'm now on the scummy scammer's ignore list for asking 2 specific questions, just like they asked.

This is part true, part untrue. As to March 15th bet (http://bitbet.us/bet/261/bfl-will-deliver-asic-devices-before-march-15th/), the split was 2-8, you were allocated the 2 (smallest, as per faq). No prevailed. As to April 1st bet (http://bitbet.us/bet/265/bfl-will-deliver-asic-devices-before-april-1st/), split was 3-7, you were allocated the 3 (idem). No prevailed. As to May 1st bet (http://bitbet.us/bet/337/bfl-will-deliver-asic-devices-before-may-1st/), split was 2-8, you were allocated the 2, no prevailed.

So, the part where you received nothing is true. The part where "as stated at" however is not true: whenever someone makes a new bet, the admin will allocate a minimum of .1 BTC to that bet, split between Yes and No. The person introducing the bet gets allocated the smaller of these. So if a bet is split 2-8 and No prevails, the introducing party gets nothing. In this sense you've not received anything exactly because that's what the FAQ says.

The winning strategy is to either make closer bets so that they have more of a chance to go your way or to make more bets, so that you get some winners in there.

You may want to post that information in this thread (https://bitcointalk.org/index.php?topic=192122.0) as well.

Thanks bud, i didnt know that. It still seems shady to me that the onus is on the bet creator. Especially with how everyone jumps to one side or the other closer to the end date (to the point of even losing BTC just to win the bet). Had i known this before, i would have used another betting site for those wagers. As it stands now, i created bets that brought in thousands of btc wagers, advertised said bets, and received nothing. Either way you slice it, that's craptastic.

That made zero sense.


I don't get why do you think bettor behavior has anything to do with it? It doesn't really matter how people bet, seeing how your slice is allocated first, right as the bet is accepted.


This keeps coming up for some reason, in spite of not actually happening in reality (http://polimedia.us/trilema/2013/bitbet-is-quite-the-lulzmine/). Weird.

BitBet is quite generously funding .1 BTC per introduced bet. This is leaps and bounds more than you could make, doing absolutely anything else on the Internet. I don't see the sense of you imagining you have much merit in the eventual popularity of any bet you introduce. No idea why you'd think that putting in some BFL delivery bet you've contributed something so valuable/original/whatever as to give you claim to anything in the first place. So, let's not get ahead of ourselves and confuse site generosity with unseemly self-entitlement.

On the other hand if indeed you promoted the bet and aren't just claiming so then I would hope you used the referral system (http://bitbet.us/faq/#43). If you didn't use it you really need to stop for a moment, read the FAQ carefully, think things through. If you did use it then you've received 1% of the deposits you referred, which is exactly what BitBet makes. If that came up to zero then you've not promoted to any actual effect, contrary to what you might imagine.

All this aside, sorry things didn't work out for you.

Looks like these guys have been at it for a long time.

Looks like you still don't know how to read. It won't get better 'til you figure this out, you know. No matter where you are, or what you use.