MoneyPot.com :: The bitcoin gambling wallet

[RHavar]

To demonstrate solvency, Vault provides a proof of liabilities.

Shouldn't you prove you own the assets to demonstrate the solvency. Proving you have liabilities and owe other people bitcoins doesn't mean you are solvent.

See the FAQ, where we sign an address that contains more than the total liabilities of the site to demonstrate solvency =)

[onewiseguy]

Deposited some Bits!! lets see the investments loving this though. would of liked the name for the game to stay the same and the vault a new name.

but damn looks great!!

[cryptworld]

it looks that the added value of your online wallet is the ability of moving bitcoin between apps.
But I can't finally understand the concept of apps, which apps do you refer to? you mean gambling sites like bustabit? Explain details, please

[RHavar]

it looks that the added value of your online wallet is the ability of moving bitcoin between apps.
But I can't finally understand the concept of apps, which apps do you refer to? you mean gambling sites like bustabit? Explain details, please

There's a few benefit's of using vault, but that's a big one. Right now the only MoneyPot.com app, is dustdice.com If you play there it should be more obvious how it works, and the idea is we're going to support more and more apps, making it easy to play with them

[Kprawn]

If I understand this correctly Ryan.... you created a more secure place {Vault} to store coins, used on APPs and services linked to it, in a central location?

Did you do this, due to the lack of security you might have had, with the funds you kept at the old "MoneyPot" game? and you expanded this service to incorporate future projects and also willing partners with their Apps and services to keep it funded?

I am in the process to test it out for myself and will give my feedback and comments soon. 

[twn]

Its preety cool. But it looks like little bit xapo.
Whats the exact difference between you and xapo? Thanks

[ticoti]

it looks that the added value of your online wallet is the ability of moving bitcoin between apps.
But I can't finally understand the concept of apps, which apps do you refer to? you mean gambling sites like bustabit? Explain details, please

There's a few benefit's of using vault, but that's a big one. Right now the only MoneyPot.com app, is dustdice.com If you play there it should be more obvious how it works, and the idea is we're going to support more and more apps, making it easy to play with them

I think the idea is interesting but you need more apps support to make it attractive. With work you will reach a good success
What type of apps are you planning to support?

[dznuts85]

it looks that the added value of your online wallet is the ability of moving bitcoin between apps.
But I can't finally understand the concept of apps, which apps do you refer to? you mean gambling sites like bustabit? Explain details, please

There's a few benefit's of using vault, but that's a big one. Right now the only MoneyPot.com app, is dustdice.com If you play there it should be more obvious how it works, and the idea is we're going to support more and more apps, making it easy to play with them

Can you pls add 8ball pool game to your apps if it is possible? That will definitely attract more players to your site

[Lies]

Hey, very nice. I'm looking forward to the apps that will be supported! 

[arallmuus]

If I understand this correctly Ryan.... you created a more secure place {Vault} to store coins, used on APPs and services linked to it, in a central location?

Did you do this, due to the lack of security you might have had, with the funds you kept at the old "MoneyPot" game? and you expanded this service to incorporate future projects and also willing partners with their Apps and services to keep it funded?

I am in the process to test it out for myself and will give my feedback and comments soon. 

In short, ryan is making this as a gambling bitcoin wallet . the different than the ordinary wallet is that, the funds can be only use in a sites that has intergrated with the vault.
Not that the old "moenypot" got some security issue, but mainly because ryan wanted to created a system which will protect the player from a mailicious or unfair sites, since every sites that intergrated with the vault will be provably fair, otherwise if they cheat, you can know it directly

[Wendigo]

If I understand this correctly Ryan.... you created a more secure place {Vault} to store coins, used on APPs and services linked to it, in a central location?

Did you do this, due to the lack of security you might have had, with the funds you kept at the old "MoneyPot" game? and you expanded this service to incorporate future projects and also willing partners with their Apps and services to keep it funded?

I am in the process to test it out for myself and will give my feedback and comments soon. 

In short, ryan is making this as a gambling bitcoin wallet . the different than the ordinary wallet is that, the funds can be only use in a sites that has intergrated with the vault.
Not that the old "moenypot" got some security issue, but mainly because ryan wanted to created a system which will protect the player from a mailicious or unfair sites, since every sites that intergrated with the vault will be provably fair, otherwise if they cheat, you can know it directly

What do you mean by funds only can be used on sites that have integrated the vault? How does the vault know which addresses come from which gambling sites? Does it use API?

[arallmuus]

If I understand this correctly Ryan.... you created a more secure place {Vault} to store coins, used on APPs and services linked to it, in a central location?

Did you do this, due to the lack of security you might have had, with the funds you kept at the old "MoneyPot" game? and you expanded this service to incorporate future projects and also willing partners with their Apps and services to keep it funded?

I am in the process to test it out for myself and will give my feedback and comments soon. 

In short, ryan is making this as a gambling bitcoin wallet . the different than the ordinary wallet is that, the funds can be only use in a sites that has intergrated with the vault.
Not that the old "moenypot" got some security issue, but mainly because ryan wanted to created a system which will protect the player from a mailicious or unfair sites, since every sites that intergrated with the vault will be provably fair, otherwise if they cheat, you can know it directly

What do you mean by funds only can be used on sites that have integrated the vault? How does the vault know which addresses come from which gambling sites? Does it use API?

let me rephrase it once more

your funds in there can be used as a usual transaction to someone else or another sites
By actually mentioning another sites is that the sites which is not integrated with the vault

In easy words,

A is opening a dice sites and promote it here in bitcointalk, since it is a new sites, no one trust the sites with their deposits.
A then considering to intergrate the sites with the vault.
The benefit will be that A's dice sites is proven to be provably fair, since the vault will notify that if a site is not provably fair and also the your funds will never be on the possesion of A unless you lose them.

Well This is how the system on the vault is, at least it is what I think it is

for better explanation, see up dooglus post about this

As I understand it, one of the selling points of MoneyPot is that the gambling sites you deposit to using it never get access to the coins you deposit unless you lose them, and so players don't need to trust new gambling sites which use MoneyPot, they only need to trust you. As the player loses coins on a MoneyPot-linked gambling site the player's balance (at MoneyPot) is debited and the site's balance (at MoneyPot) is credited. To get their coins the gambling site requests a withdrawal from their MoneyPot account.

[Altcoin4life]

If I understand this correctly Ryan.... you created a more secure place {Vault} to store coins, used on APPs and services linked to it, in a central location?

Did you do this, due to the lack of security you might have had, with the funds you kept at the old "MoneyPot" game? and you expanded this service to incorporate future projects and also willing partners with their Apps and services to keep it funded?

I am in the process to test it out for myself and will give my feedback and comments soon. 

In short, ryan is making this as a gambling bitcoin wallet . the different than the ordinary wallet is that, the funds can be only use in a sites that has intergrated with the vault.
Not that the old "moenypot" got some security issue, but mainly because ryan wanted to created a system which will protect the player from a mailicious or unfair sites, since every sites that intergrated with the vault will be provably fair, otherwise if they cheat, you can know it directly

What do you mean by funds only can be used on sites that have integrated the vault? How does the vault know which addresses come from which gambling sites? Does it use API?

let me rephrase it once more

your funds in there can be used as a usual transaction to someone else or another sites
By actually mentioning another sites is that the sites which is not integrated with the vault

In easy words,

A is opening a dice sites and promote it here in bitcointalk, since it is a new sites, no one trust the sites with their deposits.
A then considering to intergrate the sites with the vault.
The benefit will be that A's dice sites is proven to be provably fair, since the vault will notify that if a site is not provably fair and also the your funds will never be on the possesion of A unless you lose them.

Well This is how the system on the vault is, at least it is what I think it is

for better explanation, see up dooglus post about this

As I understand it, one of the selling points of MoneyPot is that the gambling sites you deposit to using it never get access to the coins you deposit unless you lose them, and so players don't need to trust new gambling sites which use MoneyPot, they only need to trust you. As the player loses coins on a MoneyPot-linked gambling site the player's balance (at MoneyPot) is debited and the site's balance (at MoneyPot) is credited. To get their coins the gambling site requests a withdrawal from their MoneyPot account.

This idea is extremely good in essence moneypot.com is creating a casino conglomerate which is very neat.

[a1choi]

Hey Ryan,

If a developer wanted to use your bankroll in conjunction with their own bankroll in their game, would that be possible?

[RHavar]

Hey Ryan,

If a developer wanted to use your bankroll in conjunction with their own bankroll in their game, would that be possible?

It would, but it's not super clean. Effectively they could just use us to hedge the bets. So the bets go directly against their bankroll, but if they're uncomfortable risking that much they hedge it against us (by placing the opposite bet).

I'd recommend however just using our bankroll, it's quite a reasonable fee structure (especially so when the bets are small, which are the ones you'd probably want to bankroll yourself)

[Wendigo]

Well I get it now what MoneyPot wants to be - the bitcoin Paypal of gambling sites in short 

[Superhitech]

Ryan, I think there should be a simple feature to copy an address to clipboard. That way, we wouldn't have to make sure that we have copy/pasted correctly.

Also, has the API been released yet? I can't find it on the site.

[Altcoin4life]

Ryan, I think there should be a simple feature to copy an address to clipboard. That way, we wouldn't have to make sure that we have copy/pasted correctly.

Also, has the API been released yet? I can't find it on the site.

Copy to clipboard is a good idea it will be good to see more games too when they get released.

[elm]

It would, but it's not super clean. Effectively they could just use us to hedge the bets. So the bets go directly against their bankroll, but if they're uncomfortable risking that much they hedge it against us (by placing the opposite bet).

it would be very interesting to see the hedge option in real time what I mean is how an OP can hedge a few high bets and hold the other bets himself.

if I understand you right the OP of a dice site could hold all under/over 49..../50..... bets himself and MP will hold all the other bet options?

[dooglus]

it would be very interesting to see the hedge option in real time what I mean is how an OP can hedge a few high bets and hold the other bets himself.

If the casino is covering some bets itself and passing others to moneypot, doesn't that increase the potential for the casino cheating? Presumably there would be two sets of seeds (in-house, and moneypot) and the site gets to choose which set of seeds to use for each bet, giving them two chances to win each bet.

I guess that could be counteracted by declaring up front "we will pass all bets with a potential profit of more than X to moneypot", but that's not ideal.