so wait, our initial investment will be avalible for withdraw at any point, and interest's will be withdrawleble every 1st in the month :S?
Yeah, it's essentially like a bank now (as that's how they do it as well -- your balance remains the same and you're credited the full month's interest at the end of the month). |
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SMILE....There it is....Thank you! Time to play some poker! Hopefully, some of the rest of the campaigners will meet me on the felt!!! (virtual felt) Double me up a couple time's baby! Confirming mine was there, too! When do we get the Betcoin.ag bonus chips, and when do we learn what the bonus for round 2 is?  |
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Just read through that. It sucks that they did that! I'm a bit lost as to your idea for a P2P server, though... you mean like a distributed/decentralized Web server? |
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Thank you to everyone for participating in our successful stage 1 campaign. We will have payments out to you and casino bonuses added within the next 48 hours at the latest but hopefully within the next few hours. Thank you!
Thanks! Also looking forward to seeing what the stage 2 bonuses/changes are, |
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There's a discrepancy on your site you may want to take a look at, because it's highly misleading. As an example, let's use the 10 BTC mine:
1016.90 monthly, 3620.20 per mine = payback time of (3620.20/1016.90) = 3.56 months
Looks awesome! Then you break it down to the BTC earnings:
2,100,000 every 8h, 1,000,000,000 cost = payback time of (1,000,000,000/2,100,000) = 476.19 cycles = (476.19/3 per day) = 158.73 days = (158.73/30 per month) = 5.291 months
This is a difference of 1.731 months, or 51.93 days
HUGE difference when calculating ROI. And this is even bigger on earlier mines. Why is this difference so huge?
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I was looking forward to who wins the auction on the site and i knew ranlo's team was a likely candidate but i never expected the team to be as big as it is. It will be interesting to see what new features you guys bring to MP and how it goes from here, the new bankroll will also be interesting because i fear some things might change there.
Im not 100% sure but you guys will change some of the rules right ? I mean how APP's HE works in general as some of them have a HE of 0.1 and maybe even 0.01 at cases ? Will this mean everyone will be pushed up more towards 1 ? Or are the big investors willing to go against the players on such a small HE ?
Some interesting times ahead.
P.S Graz to you guys.
We have had no talks about changing HE yet. As for bankroll changes, the only thing we've discussed so far is that we're going to be allowing investors to choose their own risk tolerance (kelly). For example, you can invest 0.2 BTC at 5x kelly and it's as if you invested 1 BTC. The xKelly part is understandable and pretty much standard among investing sites i believe. Will you also have something like a x.5 kelly ? Or will they only go up from 1 (P.S if it is too soon development/agreement wise i can fully understand) HE questions are the ones what are the most interesting to me right now tho. We haven't discussed the kelly ratios yet. What I can say is that likely (unconfirmed) there will be: 1/4, 1/2, 1, 2, 5, 10x. That's tentative at this point, though. |
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I was looking forward to who wins the auction on the site and i knew ranlo's team was a likely candidate but i never expected the team to be as big as it is. It will be interesting to see what new features you guys bring to MP and how it goes from here, the new bankroll will also be interesting because i fear some things might change there.
Im not 100% sure but you guys will change some of the rules right ? I mean how APP's HE works in general as some of them have a HE of 0.1 and maybe even 0.01 at cases ? Will this mean everyone will be pushed up more towards 1 ? Or are the big investors willing to go against the players on such a small HE ?
Some interesting times ahead.
P.S Graz to you guys.
We have had no talks about changing HE yet. As for bankroll changes, the only thing we've discussed so far is that we're going to be allowing investors to choose their own risk tolerance (kelly). For example, you can invest 0.2 BTC at 5x kelly and it's as if you invested 1 BTC. |
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Thanks for the clarification, Eric. Does that mean you will be unable to withdraw interest earned for a month until a month has passed? Not sure if I understand that right.
Yes. After you save the money for a whole months, and withdraw, you can get the interest. Otherwise, you will lose the interest. For example, if you deposit on 6 of July, and withdraw on 6 of October, you will get 4 months interest. If you withdraw on 4 Oct, you will lose 29 days interest and get only 3 month interest.Zocadas, you posted incorrect information. Eric answered this exact question 7 posts earlier. you will still get the interest for the 29 days but you won't be able to see it until on the 30th or 31st.
You only "lose interest" on the high yield account if you withdraw early, the other account still accrues interest hourly, it's just how it is reported on the website that has changed. That's correct. Ask them to make this happen weekly though (the update). To break it down in an easier to understand model, let's assume an interest rate of 30% per month (1%/day). I have 100 BTC. After 29 days, I have 129 BTC (we're excluding compound interest). I make a withdrawal of the full amount I see (100 BTC). Tomorrow I wake up to find that I have 29.29 BTC (29 left over + the .29 interest on that), leaving me with over 29 BTC left behind. This is just a horrible model. It ensures that you can never withdraw everything -- by its very nature, you are forced to leave a balance in perpetuity. It makes no sense, and ADDS to the overhead since every single user that has ever used the service will always have cycles being used on their abandoned balances. I was wrong at first by stating that users won't be able to see how much interest they have earned until a full month has passed. After further communication with the tech, I was assured that users still can see the interest added to their balance hourly - no change at all in this regard. The only change is that you won't be able to withdraw the interest, as opposed to the principal, until a full month has passed. To use your scenario, assume that the month has 30 days. On the 30th day, you will only be able to withdraw 100 BTC even though your balance indicates that you have about 130 BTC. You will be able to withdraw everything at 8:00 am of the following month, that is 100+30 BTC (about). You won't leave anything in your HaoBTC account except maybe a negligible amount. Ahhh, so you mean it is the difference we'll see in the two balances. At the top it shows: Bitcoin balance: xxxx BTC xxxx BTC available But that brings on two more questions: 1) Is the interest compounded hourly still, rather than just being credited hourly? 2) How does this magically reduce overhead if the ONLY thing that changes is how often we can withdraw interest? I just received an explanation from the CEO: Basically we have been allowing users to withdraw interest at random times, and there has always been small discrepancies between the interest that a user earns and the interest that he actually receives. While this discrepancy is tiny to the point of being negligible in each individual cases, as the number of users grows, the accumulated amount can multiply exponentially, leading to greater uncertainty. Thanks for that explanation. Can you please ask him if he can change it to being a daily deposit? It would have the same effect on your side, but would be much more user-friendly. |
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I would say that nothing is set in concrete yet and we are having a lot of discussions and ideas on how to move forward now, in the short term and in the long term.
The featured apps section will probably go through a couple of design phases to see what looks and works the best.
Regarding the no deposit bonus.
We would have no plans to offer a no deposit bonus funded by investors or Money Pot.
App owners are however free to use their own funds, either starting capital or commission from running their app, for any kind of promotion they can imagine.
If what you mean is a feature so that you can offer a no deposit bonus that requires a minimum wager amount before withdrawing but that the app owners still fund then that can be discussed and implemented.
Basically we are open to providing any tools and support needed to help with any promotion ideas you may have.
One thing to note is we will take all feature requests on board but certainly at first, and to answer yahoo62278's question, all these changes will not be made immediately.
Top priority is a smooth transition to the new owners/server with as little disturbance to app owners and players as possible.
Thanks for the support so far.
hi the featured app section is one of the most important implementations that would be needed for all app owners. there will be many app owners who will be interested to be featured and many who not will want to be featured because they opened the apps for their own fun and friends. but those apps who want to be featured should be featured and there should be explicit rules for all and fair for all. here is our posting in full so I don't need to repeat it https://bitcointalk.org/index.php?topic=1020726.msg13032377#msg13032377as we are discussing the featured app section could you or someone else of the new group tell us who is doge digital? could it be that it is the owner of sharp dice app? because sharp dice is a featured app that is for about 20 days dead and coining a dice is for about 3 month dead and still in the featured list. that is just a shame because we = all the other app owners who would like to be featured are just left out but they could be in the featured list instead of the dead ones. and it can't be that if we for example would like to have our apps featured will get an answer " let's see some volume first" where should this volume come from if you have a brand new app? sure from ourselves? that would be to easy for some app owners who are wagering at their own app and there are a few nice examples for those apps who have a nice wager amount and listed in NLNicos list on top but already dead for a long time. just was mentioning this because you guys mentioned the option to get the high volume apps featured. volume only would not be a fair method or rule IMHO we were always using our funds for any promo we did. and to be frank I can't remember that the investors were helping or investing in any promo that app owners were offering as long as we are with moneypot. and yes I mean a no deposit bonus that requires minimum rollover of xxx and the whole casino industry is offering this for a long time but Ryan did not like the no deposit bonus promos. it would be good to have something like slack or whatever where app owners can discuss stuff with you guys because here in thread it does not make sense to talk about important stuff it just will get lost with all congratz postings sorry for my english good luck We're already discussing this internally. Again, we're not in control of MP yet. Again, we are going to work with you all to make things better. You're rushing something that we haven't even begun on yet because we have no control over MP yet. First things first: we get things up and running as they were. Then, and only then, will we start making changes. Your featured app one is something we've already been discussing. We already have ideas on how to resolve it. But until we're at that point, there's no reason to rush it. Tackle one thing at a time, . And who is on the featured list has nothing to do with us. We have no control over that yet. Dead or alive sites, it's irrelevant at this point. That will be resolved once we take over. And all site owners will be in discussions with us, going over how to move forward with some things. No worries. Just give it time. (About the no-deposit bonuses, we did discuss this today. The consensus was that if individual app owners want to do that, it's on them. We will not personally be facilitating anything of that nature. However, new mechanisms can be added that allow app owners to have their own rollover requirements and the like) |
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First of all congratulations to you guys. And hope to see you guys run moneypot with honesty Good luck with running moneypot. As im one of member there i would like to say thank you for taking over. Hopfully will be great services near future. What does this mean for future game/app developers? What services would you offer to those who are interested in creating new games for MP?
We're going to be making things easier for new app developers, for one: both on the advertising side and development side. Through open-source games, developers will be able to fast-track their way to custom variations. And it will start out with a bankroll of ~3k BTC, so as soon as your site launches, you instantly have the backing of that bankroll behind it, attracting whales and the like. There's a lot of things in the works, and we will be working directly with existing and future app developers to create a smooth, fluid environment for all. I appreciate the speedy reply! I also look forward to working with you guys. I have a couple of game ideas and need some serious moolah to bank. Always nice to see some new blood that can add some energy.
Hopefully you guys improve MP and are a success. Cheers and
good luck.
Thanks for your support, guys! We will do our best to make you proud, . |
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Thanks for the clarification, Eric. Does that mean you will be unable to withdraw interest earned for a month until a month has passed? Not sure if I understand that right.
Yes. After you save the money for a whole months, and withdraw, you can get the interest. Otherwise, you will lose the interest. For example, if you deposit on 6 of July, and withdraw on 6 of October, you will get 4 months interest. If you withdraw on 4 Oct, you will lose 29 days interest and get only 3 month interest.Zocadas, you posted incorrect information. Eric answered this exact question 7 posts earlier. you will still get the interest for the 29 days but you won't be able to see it until on the 30th or 31st.
You only "lose interest" on the high yield account if you withdraw early, the other account still accrues interest hourly, it's just how it is reported on the website that has changed. That's correct. Ask them to make this happen weekly though (the update). To break it down in an easier to understand model, let's assume an interest rate of 30% per month (1%/day). I have 100 BTC. After 29 days, I have 129 BTC (we're excluding compound interest). I make a withdrawal of the full amount I see (100 BTC). Tomorrow I wake up to find that I have 29.29 BTC (29 left over + the .29 interest on that), leaving me with over 29 BTC left behind. This is just a horrible model. It ensures that you can never withdraw everything -- by its very nature, you are forced to leave a balance in perpetuity. It makes no sense, and ADDS to the overhead since every single user that has ever used the service will always have cycles being used on their abandoned balances. I was wrong at first by stating that users won't be able to see how much interest they have earned until a full month has passed. After further communication with the tech, I was assured that users still can see the interest added to their balance hourly - no change at all in this regard. The only change is that you won't be able to withdraw the interest, as opposed to the principal, until a full month has passed. To use your scenario, assume that the month has 30 days. On the 30th day, you will only be able to withdraw 100 BTC even though your balance indicates that you have about 130 BTC. You will be able to withdraw everything at 8:00 am of the following month, that is 100+30 BTC (about). You won't leave anything in your HaoBTC account except maybe a negligible amount. Ahhh, so you mean it is the difference we'll see in the two balances. At the top it shows: Bitcoin balance: xxxx BTC xxxx BTC available But that brings on two more questions: 1) Is the interest compounded hourly still, rather than just being credited hourly? 2) How does this magically reduce overhead if the ONLY thing that changes is how often we can withdraw interest? |
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What does this mean for future game/app developers? What services would you offer to those who are interested in creating new games for MP?
We're going to be making things easier for new app developers, for one: both on the advertising side and development side. Through open-source games, developers will be able to fast-track their way to custom variations. And it will start out with a bankroll of ~3k BTC, so as soon as your site launches, you instantly have the backing of that bankroll behind it, attracting whales and the like. There's a lot of things in the works, and we will be working directly with existing and future app developers to create a smooth, fluid environment for all. |
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Thanks for the clarification, Eric. Does that mean you will be unable to withdraw interest earned for a month until a month has passed? Not sure if I understand that right.
Yes. After you save the money for a whole months, and withdraw, you can get the interest. Otherwise, you will lose the interest. For example, if you deposit on 6 of July, and withdraw on 6 of October, you will get 4 months interest. If you withdraw on 4 Oct, you will lose 29 days interest and get only 3 month interest.Zocadas, you posted incorrect information. Eric answered this exact question 7 posts earlier. you will still get the interest for the 29 days but you won't be able to see it until on the 30th or 31st.
You only "lose interest" on the high yield account if you withdraw early, the other account still accrues interest hourly, it's just how it is reported on the website that has changed. That's correct. Ask them to make this happen weekly though (the update). To break it down in an easier to understand model, let's assume an interest rate of 30% per month (1%/day). I have 100 BTC. After 29 days, I have 129 BTC (we're excluding compound interest). I make a withdrawal of the full amount I see (100 BTC). Tomorrow I wake up to find that I have 29.29 BTC (29 left over + the .29 interest on that), leaving me with over 29 BTC left behind. This is just a horrible model. It ensures that you can never withdraw everything -- by its very nature, you are forced to leave a balance in perpetuity. It makes no sense, and ADDS to the overhead since every single user that has ever used the service will always have cycles being used on their abandoned balances. |
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Hello, Thanks for the signature campaign!
I only write this message as I am enrolling into a new one since stage one has just ended.
It has been awesome working with you guys.
Sorry to hear that, but you are always welcome to make your own choice :-) Good luck to you! in same time I would like to say thanks to all of our Participants for a wonderful Stage 1! Payments will be made according to plan - up to 48-72h from now on. (in same time you will receive all promised bonuses [25 Casino Credits]) Also after 48-72h I will announce who will get our Bonus Surprise (as one of you will get it as you know, just remember - it doesn't mean it's a Bonus for a best poster as I mentioned few times ) PS. Lincoln6Echo, minifrij, Coinshot, Alvin Fahriza, irfan_pak10, goosoodude, Harry Hood, lorylore --- please read a message which I sent to you and please send me an answer. Thanks. Thanks again! Best regards. Thank you, too! And when are you resetting post counts? i.e. round one is over, but many of us have made multiple posts in between (the excel still shows the original ones). |
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Guys, I made a withdrawal almost 24h ago now and it still hasn't gone through... anyone have a way to get a hold of Teppy?
FWIW, you can also click a button in the game which says "send a message to the game master", and you can do "/message Di Hey dude, help me with my withdrawal" and Teppy will get back to you in the game (when he comes online). yes you can but he hardly replies you back , I was stuck as a mule once and it took weeks for him to resolve . Well, I sent a PM today so we'll see what happens, . |
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I knew that there was sale going on for the MoneyPot in the background somewhere but I did not follow it directly. Someone can tell me why original owners of the MP sold their service?
I thought MoneyPot was pretty successful project and this 'sale' is surprising for me.
This should help you: https://bitcointalk.org/index.php?topic=1249919.0It seems the new team has good plans to expand and make the site even better. Ranlo been here long time too so this is good. Plus larger bankroll should help the whales. Yes, all-around, I've been very careful with who I deal with. I didn't take the decision to join the team lightly -- I did it because it was a positive step for me, but also because I have the chance to help turn MP into something much greater than it was in the past. But before we can make any changes going forward, we need to get the launch handled. The plan is to start out by getting things up and running like they were in the beginning, and then work from there. First steps first. And as of now, it looks like we'll be taking over in ~2 weeks! |
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im glad to see ranlo being part of new owners team.
wish you good luck with running moneypot!
regards.
-Katerniko1
Thanks! I'm glad to be part of it, . |
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Update! 12/03/2015*Reviewed ( Bitvest Bitcoin Plinko!) I've been tied up with unrelated things lately but am slowly working through a backlog here, .
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