Bitcoin Forum

I have sincerely never understood how a gambling site could go from 500BTC positive to 92 Btc Negative with 1% House edge.
Does anyone have an explanation?
I would really know, what the market thinks what happened.

Also.. as an investor.. one does not see ones bankroll stake anymore? Am I the only one still invested? Are there others?

Must have been a hufflepuff style job imo. I don’t think it’s possible to be that unlucky as a casino. Must have been glitches or a security hole somebody was able to take advantage of.

I opened long ago scam accusations as Investor ( I lost ) and RBIES holder

RBIES link
https://bitcointalk.org/index.php?topic=2207833.msg22227934#msg22227934 (https://bitcointalk.org/index.php?topic=2207833.msg22227934#msg22227934)

Investor scam accusation
https://bitcointalk.org/index.php?topic=2176574.msg21829632#msg21829632 (https://bitcointalk.org/index.php?topic=2176574.msg21829632#msg21829632)

sadly Investors and RBIES owners dont get together to try to push MP owners to pay or close down.

RHavar posted this not long ago
edit
in the new moneypot thread
https://bitcointalk.org/index.php?topic=2345394.msg23891888#msg23891888
 (https://bitcointalk.org/index.php?topic=2345394.msg23891888#msg23891888)
And you will not provide a short grace period for current ruby holders to sell at your earlier promised price floor?

I don't really understand how you could make a promise to hold a price floor (and literally even quote the dictionary definition of "always"). As you know, people made investing and arbitrage decisions based on your price-floor promise  and you're now pulling the rug from everyone. I'm struggling to come up with a more charitable interpretation then you're effectively scamming all ruby holders.

And if you are indeed solvent, than I think you would do yourselves a huge favor by demonstrating this (either publicly, or to a trusted person like dooglus) of proof of assets and quantifying your liabilities (which include promises made liked fixed investing returns and compensation promise made last year to investors ). If you are not solvent, you should be looking to return as much money as possible to your creditors. Or at the very least, issue a debt-based token like bitfinex did

he is spot on and said what I was saying for a long time just in better english. I was the only one who gave them red trust for not holding their promises

IMO it is time that Investors and RBIES owners get together and shout out

I think I was lucky to withdraw all my funds from moneypot bankroll investments many months back after noticing continuous losses for few months. Even though that time I made some losses but didn't lose all my money.

I don't know the how it can happen when they already have maximum bet amount set and if someone winning always they also can verify the bets before releasing funds.

I dont think there was a glitch which made them lost great amount of BTC, if there was a glitch then they should be able to fix it and made a delay of the withdrawal for suspicious activity. There is no official announcement from MP about a serious glitch so I guess the winning was legit. Just my personal opinion, no one knows except MP owner and staffs.

Something strange is going on at moneypot, they definitely can't lose such an high amount with that house edge.

There is no possibility in the world that they could lose it in ONE year which could be count to be a long run lose, I think that their are few explanations for this case.

1. It's either they had a security breech that allowed someone to steal funds from the site, they hided it from the  customers and investors, but the funds are now gone.
2. Their random is not truly random, which may lead to the fact that some players had an advantage over the system, which caused them to win at the long run./

lets be straight forward and can say that all options in this poll are possible


Whales, they had really lucky gamblers and made KELLY errors   
Software, they had glitches   
Security holes   
Thieves from outside   
They are thieves

it would be easy to know the problem if MP would be transparent but they are not

there were a few well known whales but they did not win

the winners were always players with new accounts

It doesn't matter if you are a whale or not a whale.

You are still having a 1% disadvantage against that system.

There is definitely not a legit reason that moneypot could be losing so much money in the long run.

Kelly errors rarely apply on the long run, and is usually being fixed( statistics become normal again), I don't believe that moneypot are thieves, but I do believe that they are hiding something from the community who supports it.

The trust system is broken and has never been used for what it was ment for. It reminds me if school children doing things to spite one another. Trust is farmed with trading and red tust given out for no reason. Trust rating has been abused because people can't read. Spammer get negative trust or sometimes bad quality posts. Niether of these have anything to do with trust which is why I say oeoel can't read. It's sad that people are more worried about giving neg trust to spammers or to people they wrongly accuse, meanwhile people are stealing outright in Plainview and nothing is done. It's almost like criminals are welcome.

I myself was accused by one of the moneypot guys for posting only to be paid for my signature. Meanwhile I was speaking out against them and they didn't like it so they said I was just posting for the sake if posting. So you see the mentality we dealing with here.

On July 16th in our email I wrote to you saying

"Unfortunately I don't see you ever recovering any loss from MoneyPot by staying invested there."

I don't understand how you didn't see the red flags with them not allowing you to withdraw your investment right there and them claiming they would refund your losses by December if the site made no profit before then.

They tried to repay you back by doing an ICO which failed to raise any money. Pretty much a ponzi scheme.

I will say again, unfortunately you will not see your investment returned because by now it is pretty obvious they are insolvent.

moneypot stats have always confused me , I haven't seen such losses in any other bitcoin gambling site
it's really unfortunate cause they have some amazing apps that can compete with all bitcoin gambling sites just ( bit exo for example )

I can't judge it cause I started to be active in moneypot less than one year ago , so I don't know how they did since the beginning 

Moneypot business is one of the best business ideas IMO but sadly in the wrong hands because the new owners never knew how to handle it. they did all mistakes one can do and the last and biggest mistakes were not to keep their promises and not to prove their solvency!

yes Bit-Exo is right now the best app there but they will be forced to be soon outside on their own and IMO they would do much better

BetterBets was the best app and where are they now?

moneypot is surely the worst site i also thought it might just be me who us getting a loss from my investment but every single investor is unhappy from the site I'm not sure why it has suddenly changed but i hope people realise this and stop investing in it

I'm still not sure if it's better for BE to leave MP , but anyways since they added DOGE and they are working on their own coin that's a good thing , just in case if something happened in the future

but as I said if moneypot was able to manage their business correctly then there is no reason for them to not have like 1500 BTC bankroll
as I said they have killer gambling apps with low HE , Jackpots and weekly contests so honestly their apps are way better than all investor based gambling sites IMO

BE will do better if they are on their own

why is Moneypot not answering where are the 300+ BTC from the Bank Roll? and why they dont prove their solvency? isnt that strange for you?

Theres only two reason why Moneypot lost so much BTC, one would be that there is a glitch in their system and players who know the glitch abuses it till bank is empty.
And the other one would be a higher staff in Moneypot have been doing some shady things that continually lost the bankroll.

If someone using those glitches to make money then moneypot should be knowing after they lose certain % of bankroll from any single app or game and would have been fixed easily. But don't know what is the exact reason they lost so much bankroll and this is why we shouldn't invest all our money in any single site because anytime anything can happen. Better diversify your money and reduce this kind of losing money.

exactly they would know it and close it but would they inform their users/investors?

thats the 1 million dollar question

Its obvious something went wrong somewhere in which the public does not know of. Its only moneypot as a casino I would see that fell from that amount of positive to negative. I have another way to it maybe the administrators believes its time to get out and are not ready to inform investors so they probably create accounts, tweak the systems to their favor then started winning the casino and since bitcoin gambling is anonymous, it then makes it so simple to achieve without too much stress.

I have the same experience from money pot. I also tried for some time but cannot get a desirable result. And what I can see the comments here which shows that most of the people are unhappy by investing money there. Therefore I also decided not in invest any more there.

Not sure why but moneypot has not answered a lot of questions lately. They have been under fire for their actions lately especially with those rubies alt coin and failed ICO (which they are not saying was a fail but there was some sort of problem with their partners, which I don't think should have been a reason why they have cancelled their ICO). Though they returned the ICO funds received. Problem is they are launching rubies 2, which is questionable to be honest. Their rubies was not a very successful one, and now they are launching another one to replace it. So much questions to answer.

This is really strange, I used to play a while back but I stopped playing cause lost interest, I am glad I am lucky I moved out, but I find it hard to believe that this has possibly happened, I don't trust this to be true, I feel there is something that is not shown to investors, and I feel truth will come out, these kind of fishy incident like this always happens when the price of btc starts to go up. Only play with honest casino like bitdice.

not many choices why they don't answer those important questions like solvency or proof that they still have the 300+ BTC Bank Roll

if they would have the coins they would with pleasure show us that they have it but as they don't own anymore those coins they cant prove it.

check MP owners activity only in this forum and you will see they are not active as they have been months before.

time is running against them and the only question is if they will try to sell MP and who would be interested to buy it

Exactly. The chances of something like that are close to 0.
Of course the house can be beaten if people are lucky, that's why casino have success in the first place. But that's also why there are maximum betting amounts and that those amounts are calculated in order for the house to be protected. You can win once, twice and even 40 times in a row if you have some crazy luck, but normally the house prevents you from betting to much at once so that you HAVE to make lots of bets so that you are mathematically obliges to losing in the end.

If that's not what you call a manipulation here I don't know what it is.

The most terrible part here, is that MoneyPot were unable to provide any further details about the situation, and they act like their investors are stupid.

Mathematically, it is not possible to lose so much money with this house edge, and even if they did start losing money, how didn't they close up the system to check up that everything is going up smoothly? there's not a little chance that everything went alright but MoneyPot was managed to lose so much investors funds.

I hope that it was a security breech that has been fixed and not someone from inside stealing funds.

Mathematically speaking it is possible.
Probability speaking it is highly unlikely.

So far what I know is that there were 2 big wins of 70-90 btc each whilst betting small (I believe it was jpr's game dust lottery actually but not entirely sure)

just take the time to research a bit and you would know where the big winners happened. yes JPR had NoTtardy but NoTtardy went on to Bubbles and won much more than on JPR's app but where happened all those other big wins? I could mention a few nicks cause I followed it very closely and each time a new nick won a lot. for me this is a red light and NoTtardy was also a red light for me. oh please dont forget that MP owners had a very nice Profit while Investors were losing.

I heard that you are the smart kid around the block so please tell us why MP owners are not proving that they still have the 300+ Bank Roll? maybe they dont wanna show it cause JPR asked for it?

Well thanks for calling me smart 😂
Maybe they have different deals with investors where they're allowed to buy altcoins with the btc to fund the altcoin bets?
Who knows

lets assume you are right then they could easily prove that at least the Bank Roll still exists. 300+ BTC is about 2.5 million USD

why are they not proving it? what is your opinion?