Could someone describe this in the simplest possible explanation? so couldnt the system send all withdrawal with flat 200 bits for every transaction? Why would the site wants to pay more for large withdrawal? I do think with 200 bits you could get your transaction to be confirmed on the next block
Transaction fees vary on each transaction based on block size, inputs, and outputs. See http://bitcoinfees.com for more information. As the transaction size increases, so does the fees. One can estimate the fees but the estimation is not accurate. Theoretically it is possible to set fixed transaction fees but it would need to be implemented in an odd way. Additionally, larger transactions would take larger to confirm as the fees would be reduced. |
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Getting worst today, just requested another withdrawal and choose priority fee (200bits) but sent with less than 5k satoshi fee. Confirmation Warning "The transaction fee is less than recommended." You said it will be fixed last night or this morning, but it is not fixed yet.  The amounts mentioned here are really small, but the point is that it is just plain old stealing. It would be praiseworthy if MoneyPot would comment on this, and nog just saying it will be fixed. We believed the issue to be fixed, but are adjusting it to work more properly. We handle withdrawals ranging from 100 bits to 30,000,000 bits, so we need to find a proper balance for everything. The transaction fees have risen from the halvening, making things more complicated, but we will keep attacking it until we have a solid solution in place. edit; We have now changed the system to a default 200 bits fee, and a 300 bits priority fee. You will note a memo when you are about to make a withdrawal/send. Oh come on, whats the matter with this thing. I have choosen the default 200 bits fee and yet you guys send with less than 5k satoshi. Literally you are stealing away 15k satoshis from my transaction. Whats so hard for you to use the old system? the previous system will send my transaction with 10k if I choose default and 20k for priority without any reducement at all The specified fee is used in the calculation. See this transaction for instance. I sent this transaction using the default 200 bit fee. https://blockchain.info/tx/d8ede284c81313c6640fb1ad2e87f3db39bc615e4d19bf796f45e75b9cac3cf9From the transaction you can see: Size: 225 bytes = .225 kb MP Fee: 2000 sat TX Fee: 452 sat .225 * 2000 = 450 sat. (The extra 2 comes from the rounding as 225 bytes is rounded) Here it is with the 300 bit fee: https://blockchain.info/tx/cadce78e66237e3b52ce94b35712f0412cf6d2177c4ddca9d0dc675f4bb85826Size: 225 bytes = .225 kb MP Fee: 2000 sat TX Fee: 675 sat .225 x 3000 = 675 sat Now assume we have a larger transaction. Fees are likely to be higher than the 2000 sat MP charges for default. In that case, MP is losing money. MP charges flat rate. Its simple. |
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So the withdrawal fee is not fixed yet? This is the second time I choose 200bits for withdrawal but your system process the withdrawal with only 7k satoshi (less than the default one)
And yeah I need to wait for longer time to get the transcantion confirmed by blockchain. Wondering, how much the transaction will be used if I choose the default one. Hope you can fix it asap.
This will be done by tonight or tomorrow morning. Getting worst today, just requested another withdrawal and choose priority fee (200bits) but sent with less than 5k satoshi fee. Confirmation Warning "The transaction fee is less than recommended." You said it will be fixed last night or this morning, but it is not fixed yet. This is currently being fixed and will be implemented soon. |
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...they lost a number of bitcoin in it. I think it happened because of the very great hackers to get into their accounts.
I think this is giving too much credit. A lot of people are just careless and a simple phishing attack or some social engineering makes them give up their info, and bang, money gone. I'm willing to wager that a lot of people's "lost" money wasn't stolen by traditional hack attacks, but by them in some way willingly giving out their login details, like phishing or social engineering. In this case, as much as it sounds harsh, but it's their fault alone. It is their fault alone. One needs to verify every url that they are on when submitting personal data, especially financial related. Websites and organizations can only do so much. Eventually common sense needs to kick in. |
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( Re: Is stealing Bitcoin illegal? )
So, when you asked your lawyer this question, what did he say?
I believe it depends on the quality of the lawyer..  |
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Yes! Of course stealing bitcoin is illegal. Still, if you find a forgotten wallet/lost wallet, it'll not be illegal. Because, owner of those bitcoin might have forgot about that.
disagree you are wrong because stealing of bitcoin is illegal in any situation ,so you can not say legal if one person steal bitcoin from other . Agree with you about this but have one question then what to do with this if some one find any forgotten/lost wallet because he has no contact or any thing about him ? I think we will not know if the wallet was still used or not by the original user. we do not know is it the owner of the wallet forgotten their password or not. because there is no activity in their wallet does not mean it's not in use right? It is quite clear. stealing things that are not your privilege is illegal It shouldn't matter if the wallet is in use or not. Because my money hasn't moved in the bank does it mean its not in use? Stealing is stealing. |
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It's skyrocketing like everyone is expecting, can't you see? Lol...
*laughs at chart*
Did you see the skyrocket of the bitcoin price? I saw the price dropped 3% in the last day. That might be normal. Nice to see a drop, managed to get some of my buy orders in, it might drop again if the rumours about coinbase and gdax being insolvent prove to be true Wait what? I didn't hear this rumor? |
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I don't think it's very likely I will meet someone who actively uses Bitcoin but I think that most people understand what it is and have heard of it before. Most people I think don't have a reason to change, they are happy using normal currency so Bitcoin is of no use to them.
Very True.. However, adoption has been steadily increasing over the years. Like others have stated the majority of the reason for the slow adoption is the ease of use. It is quite difficult to someone without technical experience. |
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I was also using my ledger hardware wallet(HW.1 model) on my samsung through OTG cable but people didn't noticed what I'm doing or simple they didn't care because they don't know about bitcoin or simple think that I'm a nerd or a hacker, so until know I haven't found any bitcoin IRL.
Well, it is not polite to look at other people's smartphone screens in the first place. Plus, in your situation someone would need to be really close to you to see what exactly you are doing. Don't expect people standing like 15+ feet away to even remotely realize what you are doing. Op was in ideal situation, because he found fellow bitcoiner sitting right next to him... haha, where i live if you take out your phone and start using it on a bus or on underground train there is at least a dozen eyes coming on your screen and start reading what you are reading  Oh how cute. In our country if you take out your phone and start using it on a bus or on the street or in anywhere public, at least a dozen eyes will look at your phone and will try to steal it. I believe thats called identify theft but I may be wrong. |
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Now that I have moved from South Carolina to the west side of the country, my odds should improve ;-)
I used to live in Tennessee. Big bitcoin market there. |
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A few guys I work with are into bitcoin and etherum. They will never spend either, but invest in it as a forex.
you mean you do some trading with cryptocurrencies? i think you should be careful about it because you might lose it really easily if the prices drop No, I have been involved with bitcoin since 2012ish. I fully understand the technology behind it and the hypothesis that it proves. I was strictly referencing my co-workers as the only others IRL that I know who use bitcoin. They trade it similar to a forex market strictly for profits. |
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For the past 1 year, I did meet one guy who talk about bitcoin. I was a bit cunning and pretend I know nothing about bitcoin- just to see how a bitcoiner explain bitcoin to a layman.
Turn out he actually was quite good of doing that and even ask me to install a bitcoin wallet app so that he can send me a tiny bit of bitcoin!
hmm... panhandling for satoshi.. |
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A few guys I work with are into bitcoin and etherum. They will never spend either, but invest in it as a forex.
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If the question were you to make an account and it has some balance wouldnt be a steal as you created the wallet, besides that if you had hackef or acessed someone wallets it would be ilegal as well a steal action.
Yeah that is what im trying to say, the wallet was created by you, how can you steal your own creation? It is originally yours. It is different from hacking thru accounts and getting bitcoins and transfer it to your account. There is really big difference from this two. In just having commonsense you can tell the difference of the two. If you didnt intentionally get the money or bitcoin on your wallet then it isnt stealing but hacking account to get money then its stealing and its illegal as we all know even in some things that we get that does not have permission to the owner. In OP's scenario, i wouldn't quite call it hacking.. |
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Excuse me, how much is the moneypot.com minimum investment to be able to join? Im thinking about investing on a gambling site. Could you please explain how this system works and how much can be earn with the minimum investment? Sorry, i have not invest at any sites before.
Don't believe there is a minimum as it's an open investment setup. Invest / devest as you choose. |
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the problem is not with people losing bitcoin passwords the problem is that bitcoin is not that noob friendly, as a community we need to find more user friendly ways of using bitcoin, like seriously, addresses and privatekeys need to dissapper into the background, before bitcoin will ever go main stream.
We need something called a floating address, or 'vanity address' Something that a user can remember, but ultimately is tied to several addresses. Coinbase is trying to implement something based on emails, however it is not recognized network wide. |
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I never exactly understood how people justify stealing. Its really sad, its become part of American culture from politics to your everyday craigslist scammer. Its ridiculous.
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These days wallets have provided increased security features, so to retain their wallet even when password were lost. Possibly every small portion lost got lost from wallets have added a big volume under the lost list, which have some impact on the circulation.
That's why it is suggested to import private key of every bitcoin address you have in your online wallet. Blockchain.info atleast provide this feature, if you hold private key of bitcoin address you use with your wallet than even when that online wallet go down you can easily spend your bitcoin adding that address to wallet provider like electrum. There are better chances that blockchain.info/hackers could import the same private keys in their wallets.How hard is it to leak the passwords anyway they have been Ddos'd like a 10 times before.It never safer to trust online wallets with your private keys or bitcoins. a ddos has no correlation to insecurities of a service. Its meant to impede services and cause interruptions. |
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*Knock on Wood*
Everything seems to be back to normal at the moment.
Api is up.
Deposits are working.
Withdrawals are instant again.
Socketpot is back up.
Yeez stop bumping every 5 minutes and use edit button. You were down one week, what a great success. Who HASN'T been down. Every bitcoin casino that I know of has had an instance of prolonged downtime. While I'm not making an excuse for Money Pot, one cannot argue the fact that DogeDigital & the MP team have done everything in their power to update everyone and accommodated transactions requests. Be grateful that the owners actually care about their product and they didn't run off as others have in the past. Managing an application of that size is hard work, especially when hundreds of millions of records. Everything has to be verified and validated. Tell me one site which was down for a week? Or tell me one which was down for more than 2 days? None, huh? and leave scams on side PrimeDice circa 13-2014 was down a while. Even lost all db records. JD was down for a bit in the beginning. Icedice, even though they are gone now, they were down a few times. |
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*Knock on Wood*
Everything seems to be back to normal at the moment.
Api is up.
Deposits are working.
Withdrawals are instant again.
Socketpot is back up.
Yeez stop bumping every 5 minutes and use edit button. You were down one week, what a great success. Who HASN'T been down. Every bitcoin casino that I know of has had an instance of prolonged downtime. While I'm not making an excuse for Money Pot, one cannot argue the fact that DogeDigital & the MP team have done everything in their power to update everyone and accommodated transactions requests. Be grateful that the owners actually care about their product and they didn't run off as others have in the past. Managing an application of that size is hard work, especially when hundreds of millions of records. Everything has to be verified and validated. |
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