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I heard that you're able to deposit bitcoin but can't withdraw bitcoin. Is this the case or am I mistaken?
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So, um, did moneypot not exist 4 months ago?
It has been in operation for over a year. However, ~4 months ago, ownership changed hands and all stats were reset. The numbers that I mentioned above are the new stats since the change. |
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So what have the returns been historically? In the range of...
Moneypot's numbers are only for just over the last four months. There's ~400 Bitcoin in the bankroll and a profit of ~100 Bitcoin. This would mean that if the bankroll was steady at these numbers, investors would have seen a more than roughly 25% increase on their initial investment in this short time. |
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Congratulations to MonkeyYear, who will find 100,000 Bits credited to his account for winning the Moneypot Multiplier contest.
For those placing 2-5, you have been sent a PM to collect your 100 Rubies Prize.
Thank you for all those that have participated!
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Hi. Your bid still stands and I might accept it if there are no other bids for that domain. The reason why the price is higher now is because previously there was no set price, just a minimum starting bid of $30 to get the auction going. But, clearly the traffic here doesn't justify an auction of this size so I had to create a regular listing instead. Well, you need to state that here then. An auction doesn't need to have a set price, but it does need a minimum price. If someone bids more than the minimum bid, that bid is valid, and if no one bids after that, the first bidder wins. The last minimum bid was at 30$, you cannot suddenly change that price to 250$ and open another thread, completely ignoring the last bid. If the domain doesn't get sold to dogeditital for whatever reason, I will leave you a negative trust rating. BTW, move this thread to "digital goods" Hi there, I wrote in the auction listing at the very top that I reserve the right to refuse any bid at the end of the auction. Which is standard approach if the bids do not meet the min reserve price. I did not ignore the $30 bid, sorry if you got that impression. I noted it and as I said if no one else bids for that domain I will consider it. Although arguably selling that domain for $30 would be very generous. You are of course free to leave a negative feedback if you want. Again though, I haven't really done anything wrong I read the prior listing, and it does say that he reserves the right to refuse any bid. So, you're going to give him a negative trust rating for what? If he refuses a bid, then he is being honest, right? He is keeping to his word. I didn't say I was going to leave negative trust. It's not the right of refusal that I had a problem with, it's the fact that people through this method (s)he used, can 'fish' for interest, cancel the auction and then jack the price up ten fold knowing the bidder put their cards out on the table already. It's not a huge deal, but if these were his/her prices in mind, (s)he shouldn't have put $30 minimum bid. |
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Contest ends tonight. One spot remaining. At this point, even a .0000001 bet with a 50x multiplier would grab a eligible Rubies prize.
a .0000001 betthis looks to me like a 10 Satoshi bet and we thought 100 bit is minimum bet for this contest. what did I miss here? My mistake, I did it real quick and put a bunch of zeroes. You are right. The minimum bet is 100 bits. Why haven't my bet (the one posted on #23) taken the 5th spot? I missed it. Added it now. |
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Contest ends tonight. One spot remaining. At this point, even a .0000001 bet with a 50x multiplier would grab a eligible Rubies prize.
a .0000001 betthis looks to me like a 10 Satoshi bet and we thought 100 bit is minimum bet for this contest. what did I miss here? My mistake, I did it real quick and put a bunch of zeroes. You are right. The minimum bet is 100 bits. |
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Shoot me a PM. I should be able to assist you with that.
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Contest ends tonight. One spot remaining. At this point, even a .0001 bet with a 50x multiplier would grab a eligible Rubies prize.
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I think you are misunderstanding what FUD is.
I'm trying to clear up the uncertainty and the doubt that currently exists.
You should also not fear the number and math behind the project or make any attempt to keep them hidden or unknown.
Blatantly trying to ignore questions and/or concerns imo are more about protecting one's self interests more so than someone trying to get as much information as possible.
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That's not how anything of this works but sure.
Can you work us through some examples then? I'm not the best person to do it as I've already misstated a few figures and also didn't realize that the 2% fee is only on the losing side. I understand that it is a business and ROI is extremely hard to achieve in the short term, but am very interested in getting a ball park of when that would be. I just think that your numbers are way on the wrong side for a high growth startup in this area multiples of 50-100x profit isn't strange at all, making your calculations very 'glass half empty'. I'm not trying to make an evaluation at all. I'm strictly trying to figure out ROI based off their income model which I now believe to be 2% fees on the losing side. Calculations can't be half full or half empty if they're based on factual figures (I believe I'm somewhat off, so I'm asking for a better calculation). Unless I'm missing something (I may very well be and that's why I'm asking ScamFinder to chime in), that would mean that in order to generate $1,000,000 (using this figure because they're selling 10% of profits for $100,000), they'd need to at least have $50,000,000 (more assuming that 2% is only on losing side?) in betting volume. |
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That's not how anything of this works but sure.
Can you work us through some examples then? I'm not the best person to do it as I've already misstated a few figures and also didn't realize that the 2% fee is only on the losing side. I understand that it is a business and ROI is extremely hard to achieve in the short term, but am very interested in getting a ball park of when that would be. |
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I was just doing quick math. Not trying to give a proper evaluation. But I believe that from what I first read, GamebetGG was selling 10% of profits for 100k. So if they were to give that back at 10%, they'd have to raise $50,000,000 in bets in order to do so.
For a 100% roi yes you are correct , but stating that for a valuation of the coin to be 5 times ico price it would have to take in a certain amount of money in bet's . But no company or casino is valued in the way you have assumed and calculated . value of assets and ROI % are completely different I agree with you. Return on investment and value of assets are not the same. There were some people saying that 5x the ico price on the market was cheap. I'm not going to judge whether it is or not (i haven't read too much into this project)... Just saying that if they buy in 5x the ico price, (without including steam sales and other income) they're going to have to achieve somewhere around the number mentioned before ($250,000,000 wagered) to reach a 100% roi like you said. |
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According to my rough math based on Primedice site they had 1880 bitcoin won in the past 24 hours... I used 1900 bitcoin as the amount wagered for 24 hours multiplied by 365 then by $420 and amount is about $300 million wagered per year.
Yeah, I seem to have posted the wrong numbers about PrimeDice. Just glanced quickly at some dicesites.com stats. Definitely a huge market that is not restricted to crypto or bitcoin... I'm not really arguing for or against GameBetGG. I think it's definitely interesting. Just trying to quickly let people know that they're not already making thousands of dollars in revenue as some people seem to think. I believe right now they've made a few hundred since launch. It's got room to grow and expand, and people can make their own speculations on how much they believe that will be. |
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That's not how you valuate a company or coin's which are hugely speculation driven are even harder to determine a value
Satoshi dice for example , when it took in $15 million of bet's , had made $500,000 in profit , had a valuation at the time of $8.9 million .
If you used that as a comparison , you could say , that if gamebet made 15 million in bets and made $500,000 in profits with a house edge of roughly 3.3% then the valuation of the coin would be $890,000 , possibly more considering satoshidice got sold in the same year for $11.5 million , so $1,150,000.
But again this wouldn't be accurate , because the model's are different , the site's offerings are different, the business is different , the coin offer speculatory value or potential loss of value .
anyone could do rough "calculations" against other similar ideas and get either good or bad numbers depending on what they are comparing it to exactly and what assumptions are made beforehand.
I was just doing quick math. Not trying to give a proper evaluation. But I believe that from what I first read, GamebetGG was selling 10% of profits for 100k. GamebettGG takes a flat 2% fee, so if they were to give that back at 10%, they'd have to raise $50,000,000 in bets in order to do so. |
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According to my rough math based on Primedice site they had 1880 bitcoin won in the past 24 hours... I used 1900 bitcoin as the amount wagered for 24 hours multiplied by 365 then by $420 and amount is about $300 million wagered per year.
Yeah, I seem to have posted the wrong numbers about PrimeDice. Just glanced quickly at some dicesites.com stats. |
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How long has the site been up and running? I ask cause I'm already seeing many games with 50-100 gg which I believe is the value of a dollar. In that case even at this really early stage they must be taking revenue in the 1000's of dollars which makes me wonder if I EVER want to sell these coins. I can see as this develops pots becoming thousands even tens of thousands. i hope the new UI doesn't completely change the UI as there is something already very compelling about it....don't over complicate it I hope.
Personally I think they shouldn't move to odds betting like 1/4 4/7 crap as many people are turned off by that kind of thing....seeing the pot and the percentage either side of the bet is far more fun for young gamers I think.
Quick glance math (not guaranteed to be accurate, do your own research) Excluding steam sales: To reach $1000 in revenue, $50,000 in bets must be collected. To reach $1,000,000 in revenue (1m evaluation break even: 10% for 100k @ ico), $50,000,000 in bets must be collected. For people evaluating 5x ico, $250,000,000 in bets must be placed to b/e. |
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