Bitcoin Forum

Taking up to 5 BTC in bets that Casinobit & their investment situation is or will turn into a Ponzi scheme.

Proposition:

Casinobit will be a proven Ponzi scheme within the next 3 months. This will be confirmed through inability to withdraw investments.

If Casinbit is not a proven Ponzi scheme within the next 3 months, I will return double your wager. If it is, I will keep your wager.

---

Would use that big website, but I honestly don't understand all that weighting stuff (Yeh.. call me dumb :D), just want a clean wager.

Willing to use Doog or Stunna (If they abide, I'm sure they will though) as escrow for any bets!

Simply post here or PM me if you wish to take me up on this! :D.

What if you have multiple 5btc bets against you from different people? How much is the total you can cover?

Sorry if I didn't make it clear enough. I'm taking up to 5 BTC in bets

Therefore, all bets can total up to 5 BTC & no more.

If Zaih hits his 5 BTC limit I will also bet up to 25 BTC for casinobit being a ponzi / scam.

You should put it on http://bitbet.us/new/

:P

FYI - We are not affiliated with casinobit!

Us
Name:   casinobitco
Date Registered:   August 09, 2011, 09:54:13 PM

Them
Name:   CasinoBit
Date Registered:   November 23, 2012, 06:23:50 PM

I'll also be taking up to 1BTC in bets on this.

FYI if you are going to claim a website is a scam do not suggest to bet on it on a website which is a proven scam, it makes you look like a shill and a scammer.

Yeh I noticed you had such similar names.. Very easily mistaken.

Guess this could potentially be bad for you if this does end up in a Ponzi scheme.

Zaih, you're a proven shill/scammer for Primedice, shut your mouth please.

I'll put another BTC10 on ponzi, same terms outlined in OP.... John for escrow. (winner pays fee)

Thanks for the positive feedback, please send me a mail to blobsrs@gmail.com if you have any concerns.

Woahhhhh woahhh woahhhh

 8)

Just yes.

What proof do you have of it being a ponzi? PM me so I can put it in my Ongoing Scams Thread where Casinobit is currently listed as trusted.

If there were hard evidence, there'd be no space for betting.  :D

So there is no evidence what-so-ever? Just speculations/assumptions?

I guess he will reveal evidence (if any) soon.

That's about your entire "scam" list.

Yep! Wanna take me up?

Sure, what casino are you working for again?


Sounds like you are bluffing to get a pump-n-dump opportunity.

Me? None. I might have one in the future, but right now, nada.

Sure, I am also willing to believe you mate.

I'm too tired to even imagine how that'd be possible.

I make a bet it's a ponzi (knowing it isn't), then sell my stake in the bet when it's gone on a long time paying out? Or I am CasinoBit and I keep doubling and tripling investments within an unreasonable span of time where nobody loses (~2.5mo, I guess), then buy up all discounted stakes on it being a ponzi, then shut down the site and head to Panama?

*sigh* Why do you think everyone/everything is a scam?

https://bitcointalk.org/index.php?topic=171094.msg2951373#msg2951373

Is your scam list still ongoing? Did you manage to get any proof for any of your scam accusations?

Actually, why are you even schilling this particular thread?

This really must be a blow for you, since one of the only 2 verified and trustworthy sites on your list is being challenged.

It is being challenged by a bunch of scammers.

I'm still not sure as to whether this Tm bloke is genuine or just a slightly more controversial version of Insanity, looking for attention.

Or could it be the same person having 2 different personalities  ???  ::)

Zaih your bet just went under. 001Sonkit exposed the whole scam :) I was almost to offer you a 2 for 1 bet against you if you shift the time to 1 month, but now it seems too risky :D

It could be - and we'll have our PR team all over this if it ends up that way (which it really looks like it will); however - you can tell our sites are TOTALLY different, you could always just take a peak at the WHOIS for both domains.

Hope no one lost too much in this!

I had never even heard of your site, looks neat, might play there a bit ;P

Great - We've been around to 2 months and growing very fast. I won't advertise in this thread, but feel free to check us out over here : https://bitcointalk.org/index.php?topic=228243.0

WOAH WOAH WOAH.

speculations and scams what the hell is this going where are we going

Y'all still up for the bet? 15BTC for 3 months is a little low, I will bet 30BTC that I won't scam for a month, it will be a nice addition to my monthly salary, if you are still up for more then I will also bet for month 2 & 3 after that.

That's hard to believe.  The whole thing feels like a big troll, I hate 0 fee transactions.

15 BTC? Deal.

Doog as escrow?

Stop drinkin' that hatorade. Casinobit is legit.

Lol, I'm sure he'll back out cause just-dice :P

He claims to have 1000-1500 unique visitors per day.

http://www.alexa.com/siteinfo/casinobit.net#trafficstats

The traffic he claims is a lie. As is his whole investment scheme. And if you guys haven't noticed, he had 100btc in bets over 8 months, and now ever since he started the investment scheme last week he has 2500btc in bets - that's most likely fake bets in my opinion to grow the investment scheme... Few days ago he claimed someone won 30btc on a bet, the bet wasn't shown in Top winners on his site (that could be a bug of course, as the site is buggy as hell). Let alone worst customer support that has ever existed on Earth, not addressing any of the users' doubts on the forum, not willing to show any concrete proof that there is no actual scam. He could at least address 001sonkit's long and very detailed accusation on how exactly he is cheating the users.  Let's not be naive here.

What he is cheating is the investors. It is totally true that the investment scheme is related to the roulette wheel below, very obviously that if someone bet and loses, you get his coins. But what he didn't tell you is that new investments are calculated as a "winning" to old investors. That's why we've seen some people saying that he got from 5BTC to 25 BTC over the night while there aren't even much losing bets that cover the profit it got. And meanwhile it had been running for a week, owner of CB instead of finding whats wrong with the large amount of suspicious profit that is more than what the site had won (eg: house own 90BTC and there aren't 90BTC bets, and people are saying their profit is like doubled). He advertised on how well this scheme is moving on.
This would remain 2 solution:
1. He is smart enough to not even know how a ponzi scheme works
2. http://atoast2toast.files.wordpress.com/2012/09/dog-at-computer-i-dont-know-what-i-am-doing.jpg (As seen on Just-Dice user chat room)


And for the traffic result:
https://i.imgur.com/dzM9Ymul.jpg

The stupid is strong with this one. Most of your accusations have no proof, but when multiple trusted members attempt to call something out, you don't like it  ::)


Hilarious.

CasinoBit has WAY too much ponzi written all over it for you to invest now. If it is a ponzi, all the withdrawals that are coming will mean that you get nothing out. I don't think CasinoBit will last 3 months now, or at least it's investment part won't.

First of, personal competitive attacks are just unprofessional and shows how immature and inexperienced you are, I will be the bigger man and reserve my thoughts on your design and/or the way you operate.


Like you've proven that I do not have enough bets made along with TradeFortress right?


That doesn't make any sense.


I get more views due to dozens of affiliates (as well as coinurl), I wasn't trying to discredit just-dice, just to show that doog is a double faced hypocrite. I have already provided more data and have more positive proof than he ever will yet he keeps on demanding evidence with bogus, unfounded claims of pyramid scheme and you fools keep echoing the same, the only person who has showed any evidence so far is 001sonkit and that evidence isn't credible.


Raise another 15BTC and I'm in. We won't use Doog as escrow.

I can imagine the terms being as the following:
All parties betting for Casinobit being a scam cannot post on official Casinobit topics or commenting on Casinobit activities in any shape or form.
Unpaid transactions are regarded as investors or players not being paid 3 business days after email contact AND a forum post in the official Casinobit topic.

Sounds good to you?


What evidence do you have again? Have you ever been an investor and investigated the matter yourself?

You're saying you DON'T want to use an escrow?

You're saying I send you the coins, and if CasinoBit is a Ponzi, expect you to pay me out?

... Are you kidding me right now?

He calls it a win-win situation. For himself.

I am saying I don't want to use DOOG as escrow, I am still willing to use a third party service as escrow.

You are a bunch of clowns.

How about John K?

I do not see how the attacks are personal when they are clearly exposing your bad business practices.

How do you know that? Have you ever invested or investigated the matter?


I would rather use BitBet.us to tell you the truth.

Speaking of bad business practices  :o haha Come on, show us your true side.  :P

How do I know it? 13 years of online gambling and internet marketing experience is how I know it. Your traffic claims are ridiculous, your bet activity on site the past week is the very least suspicious as I have been following it since the start of it, the way you deal with CS matters it outright terrible, you have not addressed an obvious, tested and proven ponzi claim by 001sonkit. Well excuse me but "We are not a scam" is not enough in such situations.

Are you trying to use ponzi money to silence scam accusations? By chance is you name Trendon Shavers former known as pirateat40?
Paid using victims money: https://bitcointalk.org/index.php?topic=91661.msg1013612#msg1013612 (https://bitcointalk.org/index.php?topic=91661.msg1013612#msg1013612)

Zaih has little to no reading abilities, I have claimed I do not approve of Doog as escrow yet he somehow assumes that I do not want to use escrow at all and calls me out on it, calling him a clown is appropriate.

My traffic claims are not ridiculous, we are one of the oldest Bitcoin casinos on the net, CS matters are also professional and within a timely manner. As for 001sonkit, he has already made a reputation for playing around with the CSS/AJAX calls, he has also made the claims of -3/25 confirmation bug which would only occur if you tried to withdraw less than the minimum amount of 0.01BTC for which an error code of -3 would be returned.

In any case, before running your mouth, invest yourself, test the matter yourself and don't vouch for others (especially people you do not know and people that some claim are scammers), because if you do and they are not right YOU are the one looking like a fool.


Why would I want people that have clear personal interest making scam accusations and spamming my topic scaring the customers away? How is my not wanting this indicative of being a scam?

Well it is really up to you to prove everyone wrong.

John K Is more impartial than whatever betting site you want to use. For all we know, you could be in contact with that admin.

BEWARE OF CSS CALLS!

#call{
  /*
  Do evil hax0r stuff here
  */
}

the CSS/(AJAX calls)

I saw it once too.  I had 2BTC in there last night, at around 11 confirmations I think.  I played .01 on some number and lost.  During this time, I still had the invest slider open, and the slider was at 2.0BTC, when I hit invest I got the -3/25

I'll throw a coin at this, on not a ponzi, escrow being used cannot be a competitor of CasinoBit, or one of the scam screamers, John K accepted.

What odds are you offering? 2:1, 5:1, 10:1? I'de like to know how confident you are on your claims, for which I've seen exactly 0 (zero) evidence supporting.

I too will bet on not a ponzi, just for fun. (I am in no way picking any sides by doing this bet).

Let's see what kind of odds he is offering...


Actually, the burden of proof doesn't work like that.

Can you prove I don't have a pink unicorn that shits rainbows in my garage, it's up to you to prove me wrong...

*silence*

No, you claim you have it, so provide proof.

Proof that this is a dubious scheme have already been posted. Not just a claim.

So, post proof that you own a pink rainbow shitting unicorn.

Oh fuck, not a burden of proof argument. This was the one place on the internet without that...lol

The odd's are obviously completely even, as stated in OP.

You bet 1 BTC, if you win, you win 1 BTC. If you lose, you lose 1 BTC.

1:1 that is? Or is that 2:1? I don't understand bookies terminology (Well, I'm simply not familiar with it)

You obviously missed his sarcasm... His point is that you cannot prove a negative; if he claims he has a pink unicorn in his garage, the burden of proof is on him to prove he has it. Likewise, if you claim ponzi, the burden of proof is on you.

This ^! Fucking this^11!!!

Is it really that hard, Zaih!!111?


If I was sure of a outcome, I'll give you 100:1, fuck, 100000:1...

1:1 is not acceptable.

I'll accept 5:1, your 5 coins against mine.

BEWARE THE CSS CALLS

Don't pretend to have achieved something. Your thread is a nightmare of complaints with people waiting for days to get a withdrawal. Out of 55-60 gambling websites, yours is the only one for which bets are taken if it is a scam or not in the open forums. This alone should very much bother you.

No? I'm not 100% sure. If I was 100% sure I'd be willing to wager up to all my Bitcoins.

I'm looking for a gamble, and a fair gamble. I'm not 5x'ing you.

i think i can see a hole in this bet lol

if the site refuses to pay out that in itself is not confirmation of ponzi scheme just possible fraud 

Up for a 1:1 bet that in one month they won't be a scammer, or however you state that. (And by 1:1 I mean my bitcoin your bitcoin, I too am not familiar with these odds)

You are correct, just image reference for who are not clear
https://i.imgur.com/FmZwyyV.png

Three months? That's sufficient time for a ponzi scheme to run its course.

I seriously think that CasinoBit has convinced HIMSELF, somehow, that he isn't running a ponzi.

https://i.imgur.com/AztYGHS.png

Those returns are gone btw, I am just getting back to my high after being down two days. Will play Switzerland as to whether those early returns were legit or not, but if they weren't, Casinobit seems to have covered them.

Well, I thought I was the one gambling here.

You're not even 2:1 sure? Just 50/50 sure?

If you aren't satisfy, just get to another gambling ground, every places got it rake. In this case, you determine whats the rake. Don't I even know it

Not sure what that says...  At any rate I wouldn't take 1:1 either though, if I was interested.  Pedrog seems like a good negotiator here.

Still up for a bet? 1btc for 1btc? John K accepted.

C'mon, not confident enough yet?

I am very confident. How about you? I am actually giving you a break on the odds :) The odds of casinobit screwing his entire business over a very low amount of coins are low. He must be very dumb to do it and he most likely isn't. A realistic line would be 3 of yours for 1 of mine, since my risk is much higher. However I will be happy to do a 1 on 1 if you are confident about your position.

Come on pedrog, let's gamble  ::) I am thirsty for some gamble.

I see where you're coming from, but I still think this situation is a little inclined in your favor.

Maybe 0.5 BTC at 1:1, 1 BTC at 1:2 in my favor.

I was never convinced either way, but past 24 hours I think stuff went a little your way...

Ok I will take you on the 0.5 bet. 0.5 for 0.5. Who will be our escrow? Please arrange it.

I'm a bit low on BTC lately so if you're up for it, I'll be willing to bet with 0.1 too. (Betting that casinobit is NOT a ponz in a 3 month timescheme, I would also like to note that I am in this way not choosing any sides or opinions by making this bet.). As for escrow, I trust you enough that you pay out, however as for my coins, I'd be willing to escrow them with anyone you trust.

Sorry the delay, physical world sucks!

I think by now we all know what happened, like bit777 pointed out, CasinoBit will honor investments, maybe not the "gains", but pretty sure no one will lose money.

I don't think there's a reason for betting now...

Where did bit777 point out that he believes that everyone gets his/her money back?
I see no reason why CasinoBit would now suddenly pay out?!

Plus:

OK.


I hereby claim: I will pay you, pedrog, 21 million bitcoins.

@anyone else: give pedrog the opportunity to bet that he will actually receive 21 million bitcoins from me. I said it so it must be true.

The only thing that his statement clears is that the coins are not in his possession, which by itself implies that his investment balance on site of 327btc currently is fake, which validates the idea that it is a scam, ponzi or not.

pedrog, you just saved 0.5btc, Boelens you too :)

How does it show that the balance is fake again? Just because we have 327BTC invested doesn't mean that we should use the 10% to pay off interest to the 90%.

Come again? You are saying you have 330btc in your hands and delay 10-15 people for 4-5 days now intentionally?

I am not saying anything, just following your illogical, childish, train of thought.

Guess it's pretty much proven now. Glad I didn't make the bet then, heh. ( I lost a bit on your casino recently anyways, so you already got it from me technically, haha )

Instead of categorizing my thoughts, why don't you just pay your investors and resolve the situation.

+1

Don't be childish, please.

I will bet 10BTC against Casinobit being a scam, anyone sure enough to bet 1:10?

You don't have that much.

Are you his accountant or banker?

I could be :)  I will be glad to match his bet. 1:10 (1btc of mine for 10btc of his). However, escrow is mandatory as I don't believe he has it.

An operator of a casino that doesn't know how betting works  :-\. Why doesn't this surprise me?

I will bet you 10 of my bitcoins against 100 of yours (and your fellow haters) bitcoins. If I win I get 110BTC, if you win you get 110BTC. According to you the chance of Casinobit repaying the debt is slim to none so this shouldn't be a problem (or even a risk) and should bring you a nice profit of 1BTC for every 10BTC bet.

We will use escrow.

Time to put your BTC where your big mouth is.

I actually believe the chance is 50/50 for him paying or not, but since he is one of the only 2 trusted casinos on your scam list I thought you have the balls to back him on 10 to 1 odds. (10 of yours for 1 of mine) :)

Well I was under the impression that people would bet 10:1 with me since quickly scanning through his thread I can see a lot of people acting as if they are 99% sure he will not pay out, seems like a straightforward guy to me but I wouldn't vouch for him on 1:10 (why would I if I can get 1:1?).

I believe we settle this in the previous page, but bit777 is right, if you wanna make a new bet on will admin pay or not, and you are so sure he will pay, odds should be in favor of the person who bet against, likewise, I was trying to push in my favor when people was so sure it was an intentional scam...

He offers you 50/50 so take it or offer odds that offer him more in case you lose. There is no reason he would do anything lower than 1:1 (for him) because that's what he's offering.

So if you're just 50% sure why do you talk out of your ass then?

Again, take it or leave it. Apparently you think the chance of him not being a Ponzi/Scam is 90% but nobody here is offering you your desired 1:10, so just leave, or offer it yourself and see if somebody is willing to bet against you.

well technically vlees that claim you put could be concidered a form of contract so anything possible lol

I agree. To prevent autists from taking this seriously I did not specify a delivery date though. So technically I will promise a delivery date around the year 30000 (again, no calendar specified :))

lol fair enough vlees

Hey everyone! Time to place your bet and take your side!
UPDATES!

Inability to withdraw investments ✓

Bet has already resolved to "CasinoBit is a ponzi".

I keep hearing accusations, I take it you don't have the money and/or unwilling to bet against me 1:10 on casinobit not paying up too right?

I would take the same bet as you anytime with those kind of odds that Casinobit will reimburse all investors deposit.

Well claim to be 99% sure so I should take them up to their word and bet 1:100, but since people like to overestimate I can bet 1:10 (for those who are just 90% sure) or even 1:5 for 80%, if you are just 50% sure don't go running your mouth and criticizing people harshly.

I'm confused on how you think this is not a scam when players & investors are not being payed. Please explain what it is then? I guess you think everyone is lying.

Didn't you start a thread with a list of scammers? Weird how the one casino that's not paying anyone is listed as trusted on your list yet the ones that are paying out are listed as scams.

At 1:10 the bet is probably EV+

I just want to know a date when the funds will start rolling out and back to players and investors!