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One's gotta take the chance, bite the bullet and deposit... That's the only way to be sure. And always withdraw when you don't need it anymore!
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blockage and csmcanarney are right, but let me expand a little on what we're building with vault (which is coming together, but still 1-2 months from production quality).
Vault Value proposition for users:
* A highly usable web-wallet, suitable for day-to-day use with all the features you'd expect for that
* We don't ask who you are, or why you're using vault
* Good (external) privacy, your coins are mixed with everyones coins
* Offchain transfers: Transfer money to people/accounts instantly off-chain.
* Unified login system for gambling sites. Vault is an OAuth2 provider, and you can authorize apps to login and have access up to a specified amount of money. Not only do you get the unified identity across sites, but you can "Add funds" instantly by just authorizing the app to gamble/spend more (no more waiting for confirmations)
Vault Value proposition for investors:
* Invest your money in a single bankroll, that is used by multiple websites. You only need to trust Vault, and not other gambling operators.
Vault Value proposition for devs/casinos:
* Focus only on building an engaging gambling game. You can even build a gambling game without running your own server!
* Leverage the dirt simple "Login With Vault", no screwing around with creating your own user system, security system, 2FA, forgot password, support requests to reset passwords/emails/2FA, etc., handling withdrawals, deposits and reduce friction for people who already have a vault account
* You can use the flexible provably fair betting API to make bets on behalf of your user. You can verify them in real time, to make sure Vault isn't ripping you off. The provably fair betting API is flexible enough to support games like: dice, roulette, plinko and slots from day one.
* Have users gamble directly against Vault's bankroll. This means on *day 1* you can offer high limits, and have absolutely no worries about variance or solvency, vault takes care of that for you.
* Offload security to Vault. All users balances are kept in vault as is the site bankroll.
* Have a steady source of income. From investors perspective, we always give them a 1/2 kelly for every bet (with a minimum of a 0.1% house edge). When ever you send Vault a bet with a house-edge greater than a 1/2 kelly, vault and your app will a 50-50 profit share. [1]. The core principle here, you get a steady stream of income based on your volume and the odds you offer your users.
[1] Details of the investor/vault/app profit sharing subject to change
I see you are making huge developments. This can change the gambling sites forever... Please keep on improving these ideas, they will be greatly appreciated!  |
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I thought about what the OP is saying myself when I read the release notes on the 0.10 RC... But since the code is always public, I've discarded these thoughts  andytoshi, thank you for your insight, it's pretty clear even for non techies |
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be prepared to be reported to IRS. Everybody who is using Coinbase will be... Another catch I didn't think of. This one is really bad, haha |
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Yeah, I'm pretty sure Ryan is still all for adding investing. Not sure when its coming out though, he seems to be preoccupied with Vault (his other project)
Investments are actually one of the core features of Vault. From what I understand MoneyPot will migrate to Vault for bankroll and user balance management once it is stable enough. Other sites gambling sites will also be able to use Vault in the same way. Just like MoneyPot, Vault is open source, so you can inspect the code and follow the progress on its GitHub page, if you're curious. Github is not saying a lot, just that it's kind of a new wallet. What will be the main purpose of the "Vault"? How secure are the money currently stored in the MoneyPot game, or is this one of the issues they are trying to solve with "Vault"? Main purpose of vault is to be a gambling wallet and investment wallet for multiple games including MoneyPot. I believe Ryan is trying to expand. Security-wise there's nothing which is improved in vault I believe. The current situation on MoneyPot is the following AFAIK: Most of the funds are held in cold storage. I believe Ryan is using a trezor for cold storage as he mentioned using one multiple times in the chat. Cold storage addresses are not public and are not reused. User deposit addresses are BIP32 addresses derived using the user id and are part of the hot wallet. Once the hot wallet has too much coins, some are spilled over to the cold storage. Idk exactly at which amount though. Pretty nifty and clever system... |
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So what's the difference from the user's perspective if coin base is the exchange them self?
I'm still just buying Bitcoin on their site same way as before, right?
As I've read, the difference is basically having your fiat insured. There's also no fee trading for some time... And yes, you can keep buying as before |
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So, can you tell more about Cloud Wiping? Will it be softer than Toilet Paper Wiping?  Hopefully I'll will have more news on this next month! Exciting shit  Will be a good experiment. Good! Exciting shit, haha, sounds good! I'll be waiting for that |
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haha amazing, got one and they do work! thanks! haha |
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Any account for me? Haha, thanks!
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weekly wagered is actually higher than both PRC and DiceBit.me. Of course the house margin is considerably lower than both of theirs, so people can play a lot more with the same amount of money. (So maybe a better measure of popularity is the weekly EV of the casino, in which case they'd both be quite a bit higher than MP)
I think it's unfair to MoneyPot to count its volume as being lower because the edge is lower. If you increased your volume by lowering your house edge, that's a risky strategy for you, but don't play down the results you achieved by doing so. You made your game more attractive than other games by having a lower edge, so celebrate that increased volume. It's just as valid as any other site's volume. I guess what I'm saying is that the site is popular in part *because* of the low edge. Indeed, the low edge plays a big role here (and in any other site with low edge) |
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It was the year of the altcoin... But maybe not for the best reasons.
Altcoins dominated the headlines many times, and they grew like mushrooms every week. Everyone wanted to have a go at their own coin. Most were unsuccessful, but still, they were here and they tried. So yeah, I kind of agree, 2014 was the year of the altcoin
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Bad vibes when people hack others just because they're "inconvenient"... hope CoinFire gets back on their feet fast!
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So, has anyone found keys with coins there? haha Believe it or not we have found keys that used to have coins in them in the past so far (empty when we found them... looked like SR tumbling shit.) Like in page 5467789765435678908766 or whatever like that. We are in the process of developing "Cloud Wiping" which is going to be a really exciting service I think. The site will remain free, but the Cloud Wiping will be charged. Agree, but it's more easier to win a jackpot in a videoslot than this.
But can you sit at the videoslot machine for free and at home! Negative Ghost Rider! So, can you tell more about Cloud Wiping? Will it be softer than Toilet Paper Wiping? |
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Looks good, we needed another explorer... Thanks |
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You are right... BUT if you get that continuosly at the MAX bet. {Think it's 100 000 bits} might be even higher now, you will show a good profit. If you hit the dreaded 0x or 1x your profits will be down the drain in 1 bet.  / Play around with different strategies, and vary your exit strategy to maximize your profits. It stays a gamble and it's very addictive, but FUN. Having a strategy isn't much good... unless you know who's also there playing and what's their game |
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So much hype, for this... I thought it would be something big.
This is huge ... over ~1 million users now can buy BTC for free , instead of 1 % and store their USD in an FDIC insured BTC exchange They are making even deeper ties with Bitcoin and fiat... They want to regulate something unregulated. It's good to have your fiat insured, but do we want such a connection between BTC and USD? And the folks on Wall Street? I'm not sure if that's a good thing overall. Good thing is, they will never be able to control or regulate the Bitcoin network in any way. They will never be able to control it anyway so wall street only means more fiat! And more manipulation. But anyways, I'm being a little skeptic maybe Let's see what this will bring. |
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Any other downtimes planned? Pretty boring getting here and seeing this offline all of a sudden |
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So much hype, for this... I thought it would be something big.
This is huge ... over ~1 million users now can buy BTC for free , instead of 1 % and store their USD in an FDIC insured BTC exchange They are making even deeper ties with Bitcoin and fiat... They want to regulate something unregulated. It's good to have your fiat insured, but do we want such a connection between BTC and USD? And the folks on Wall Street? I'm not sure if that's a good thing overall. Good thing is, they will never be able to control or regulate the Bitcoin network in any way. |
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I didn't get any block on my Windows 7 VM. Had it running for 2/2,5 hours total... Since this doesn't seem to be malicious I'll try it outside the VM on Windows 8.1, on my desktop.
Pretty wierd, this guy just creates an account to drop his bot, and never logs in again. All this without giving source code...
As for the hashrate, how many of us are running this bot? How do you know there are 5-10 running?
Also, can you please confirm the bot behavior (so that I can see if I'm setting it up correctly)? When you click play, the motogame.exe just runs in the background without any windows and goes full throttle on the CPU?
Yes, it's behave just like you described. Later I tried it on some old Athlon, works too (I got a block about every hour). But I don't use VM. Also, I have Win 7 on both machines. Do you have the latest wallet version of 8 Sep 2014? https://github.com/motocoin-dev/motocoin/releases/tag/HMCtesting3Of course, we still should be suspicious and I don't recommend to run this bot on machine which has any valuable information. >How do you know there are 5-10 running? I just looked at the number of connections in qt wallet. Before the Necromonger's bot it was usually 2-3 connections (first bot and c-cex, I guess? also block explorer). During the last little pump it was about 5-7 (some people start to mine manually, I guess). And just now it's 10 (and it was 11 not so long ago). >Pretty wierd, this guy just creates an account to drop his bot, and never logs in again. All this without giving source code... I guess this guy just sat here read-only and make an account when it was necessary to upload the bot finally. Maybe he is shy about his bad style code or don't want to somebody improve the bot. Or wrote it in some windows-only environment. Or he want all of our privkeys are belong to him. I don't know. Of course, I will say again, we must be suspicious. And it's sad that this guy don't even log in again to tell us why he don't want to give a source code. Yes, I have that version. I can mine blocks manually. I can't get any block neither with a 4 year old laptop with AMD CPU, neither a Core 2 Duo. Pretty odd... Haven't seen more than 4/5 connections lately. And some might not be running the bot As for private keys, if he has mine, he hasn't used them so far |
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Too bad this is the announcement they made. I thought they were going for alts... Apparently the "source" around here was wrong lol. This is probably the announcement: http://www.wsj.com/articles/first-u-s-bitcoin-exchange-set-to-open-1422221641By GREG BENSINGER Jan. 25, 2015 4:34 p.m. ET 0 COMMENTS The virtual currency bitcoin is getting a very real boost on Monday, with the opening of the first licensed U.S. exchange. Coinbase Inc., a startup backed by $106 million from the New York Stock Exchange, banks and venture-capital firms, said its exchange will offer greater security for individuals and institutions to trade bitcoin and monitor real-time pricing of the cryptocurrency. The exchange could bring needed legitimacy to the currency, which isn’t backed by a central government and is traded over virtual exchanges, primarily overseas. Coinbase said it has insurance, offering traders some assurance that their money won’t disappear. Bitcoin enthusiasts have been buffeted by the collapse of Japan-based exchange Mt. Gox last year—taking with it around half a billion dollars of investors’ money—and a security breach earlier this month at Slovenia-based exchange Bitstamp. The value of a bitcoin itself, determined by trading on existing exchanges, has fallen to about $240, from a peak in late 2013 of more than $1,200. “To have an organized exchange that has the backing of thoughtful venture capitalists and investors addresses one of the main problems with bitcoin: its extreme volatility,” said Campbell R. Harvey, a Duke University finance professor who has studied cryptocurrencies. “Bitcoin has been sorely in need of something like this.” Coinbase’s founders say they have been working for five months to win licenses from state financial regulators. They have regulatory approval in half of U.S. states, including large population centers like New York and California. For now, Coinbase can do business with account holders only in states where it has approval. Coinbase will take a small percentage—likely less than 1%—of most transactions, said Fred Ehrsam, 26 years old, a co-founder. The exchange will initially be limited to users in the U.S., but Chief Executive Brian Armstrong, 32, said he plans to expand overseas. Mr. Armstrong said he expected to attract both individuals and businesses looking to trade bitcoin. “Our goal is to become the world’s largest exchange,” he said. Others are looking to open U.S.-based bitcoin exchanges, including Tyler and Cameron Winklevoss, the twin brothers known for their early feuds with Facebook Inc. founder Mark Zuckerberg . Financial regulators, including the U.S. Federal Reserve, have been scrutinizing bitcoin recently. Benjamin Lawsky , the superintendent of the New York State Department of Financial Services, is working on a so-called BitLicense for firms looking to offer digital-currency services in the state; Coinbase is operating under earlier regulations. Mr. Lawsky’s plan is seen as a template for legislation in other jurisdictions, and it may give outsiders more confidence in the currency. Bitcoins are created using high-powered computers that “mine” for the currency by solving complex mathematical equations. They are exchanged digitally either for currency, or goods and services. Ownership and transactions are recorded, anonymously, in a so-called blockchain, which backers say reduces the risk of fraud. Bitcoin grew to prominence in recent years in part because of the ease with which it can be transferred. Coindesk, which tracks the price of bitcoins, says 82,000 businesses accept the currency, double that of a year earlier, including e-commerce site Overstock.com Inc. and Expedia Inc., as well as many small retailers. The value of all bitcoin is $3.2 billion, according to Coindesk’s price index. The NYSE invested in Coinbase during a $75 million round of fundraising that closed this month. Other investors include USAA Bank, the venture arm of Spain’s Banco Bilbao Vizcaya Argentaria SA, former Citigroup Inc. CEO Vikram Pandit and former Thomson Reuters Corp. CEO Tom Glocer. Venture backers include Draper Fisher Jurvetson, Andreessen Horowitz and Union Square Ventures. The NYSE’s investment was intended in part to “keep an eye on bitcoin as it matures as a legitimate currency,” President Tom Farley said. “Any currency relies on its acceptance.” The Coinbase exchange “is an important step for the currency to become socially acceptable.” Coinbase counts about 2.2 million consumer wallets and nearly 40,000 merchants that use its services. The company has about 75 employees and plans to operate in 30 countries by year-end, up from 19 today. I have been following this for months, if you look at the players and think about what and how they do things USAA Bank Citigroup ect ect and look at how Coinbase operates... you can pretty well kiss annonymity good bye if you use these services its a trade off and totally your decision. Just the first step for centralization and "regulation" of Bitcoin, although not total regulation and centralization... YET. Agreed, bye bye anonymity if you use them. As for regulation/centralization, they will never achieve it (they would kill their own business if they could achieve it somehow) |
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