MoneyPot.com :: The bitcoin gambling wallet

[BetterBets.io]

Seems like you will get alot of advantage for being developer and use moneypot bankroll.

The split of profit is 50 50 . If I am a developer and bet at my own site for 1 btc and win, I will get 2 btc . If I lose 1 btc, then I will get back 0.5 since the split of profit is 50 50 isnt it? this is simple calculation assuming that there are no investor, of course after cutting with the investor profit I will still get back like 0.4 btc , so It is a plus point betting at my own site if I am the developer right?

This is incorrect, the amount gained is 50% of 1% for every bet. So using Betterbets.io as an example since we are the first to use this system we currently have 237 BTC wagered since launch. Our gains from this is 1.185 BTC. Hope this clears up all your questions regarding gaming the system on the developer end. In other words, to succeed you must have high volume and produce a quality Casino or game, and that's the bottom line.

[1715439323]

1715439323

[1715439323]

1715439323

[1715439323]

1715439323

[memphixx]

Hey I have been waiting over 2 hours for my little deposit of 10,474.48 bits to get confirmed... eager to check out the sites please help!

EDIT: within two hours received a response from support, fixing my deposit, and matching it so I now have double my deposit. Great service guys thank you!

[Alvin Fahriza]

I Like this desaign

[RHavar]

Hey I have been waiting over 2 hours for my little deposit of 10,474.48 bits to get confirmed... eager to check out the sites please help!

Gah. That was my fault indeed. I wasn't keeping track of the disk growth and bitcoind ate my 50GB SSD partition. I'm moving everything over to a bigger drive, and will give everyone a bit of a tip who was affected.

The issue has now been resolved, and for more affected users I've given them a x2 deposit tip. Enjoy!

[memphixx]

Hey I have been waiting over 2 hours for my little deposit of 10,474.48 bits to get confirmed... eager to check out the sites please help!

Gah. That was my fault indeed. I wasn't keeping track of the disk growth and bitcoind ate my 50GB SSD partition. I'm moving everything over to a bigger drive, and will give everyone a bit of a tip who was affected.

The issue has now been resolved, and for more affected users I've given them a x2 deposit tip. Enjoy!

Thanks Ryan!

[erwin45hacked]

Seems like you will get alot of advantage for being developer and use moneypot bankroll.

The split of profit is 50 50 . If I am a developer and bet at my own site for 1 btc and win, I will get 2 btc . If I lose 1 btc, then I will get back 0.5 since the split of profit is 50 50 isnt it? this is simple calculation assuming that there are no investor, of course after cutting with the investor profit I will still get back like 0.4 btc , so It is a plus point betting at my own site if I am the developer right?

This is incorrect, the amount gained is 50% of 1% for every bet. So using Betterbets.io as an example since we are the first to use this system we currently have 237 BTC wagered since launch. Our gains from this is 1.185 BTC. Hope this clears up all your questions regarding gaming the system on the developer end. In other words, to succeed you must have high volume and produce a quality Casino or game, and that's the bottom line.

This means this is a zero risk opportunity for developer isnt it since he/she will get 50 % of 1 % house edge of the wagered amount . It means that if he wager a 1 btc then he can get 0.005 btc from it too even if he win. Could perhaps play at 98 % chance to win to get more wagered 


@ryan, does faucet lost/wagered count towards the profit for developer?

[RHavar]

Hi! I'm trying to get into the API; I have small game, where dice is rolled, and I have 6 horses running; If dice is 1, horse #1 advances, if dice is #3, horse number 3 advances, e.t.c;

The horse which advances 6 times first, wins the race. The player who bet on this horse, wins the bet;

I assume, I need to use custom bet here to form request? (https://www.moneypot.com/api-docs#v1-bets-place-custom-bet); is it possible to what I want with 1 request and get the result? Somehow I can't picture in my head, how should the optimal request  look like.

Yeah, that should be pretty easy with the custom API, basically you just get the total amount of outcomes 2^32, and divide it into 6 equal ranges (say of: 715827882). So if the outcome is between  [0, 715827883) ... horse 1 wins. If the outcome is between [715827883, 1431655764), horse number 2 wins etc. That would be the payouts you send to us. Also you can then use the provably fair outcome we give you as some sort of seed to do your animation, which gives that final result.


Hope that's clear

[RHavar]

This means this is a zero risk opportunity for developer isnt it since he/she will get 50 % of 1 % house edge of the wagered amount . It means that if he wager a 1 btc then he can get 0.005 btc from it too even if he win. Could perhaps play at 98 % chance to win to get more wagered

That's basically right. From an app-developers perspective, it matters not if the gambler wins or loses: They make exactly the same. However the investors still need a cut (otherwise they wouldn't invest). So it's the 50% split is of what remains after paying the investor enough.

@ryan, does faucet lost/wagered count towards the profit for developer?

MoneyPot.com pays for that in its entirety.

[arallmuus]

Some big bets today on DustDice, if you're one of the lucky MP investors you'll have got your share of around 10 BTC =)

Some thoughts after reading this because I invested on MoneyPot as well and just checked on my investment on MoneyPot and it is increasing a little

Ryan, Could you add a counter at the investment tab where we could see either the increase/decrease of our invesment in percentage daily? I could not see anything regarding how much my investment has increase or decrease though (either I couldnt find it or there is no such thing), basically I counted them manually by checking on how many bits I have invested and substract them from what I have currently as investment

[Altcoin4life]

Some big bets today on DustDice, if you're one of the lucky MP investors you'll have got your share of around 10 BTC =)

Some thoughts after reading this because I invested on MoneyPot as well and just checked on my investment on MoneyPot and it is increasing a little

Ryan, Could you add a counter at the investment tab where we could see either the increase/decrease of our invesment in percentage daily? I could not see anything regarding how much my investment has increase or decrease though (either I couldnt find it or there is no such thing), basically I counted them manually by checking on how many bits I have invested and substract them from what I have currently as investment

Great idea this would be a nice feature request for investors.  Maybe a future update?

[arallmuus]

Some big bets today on DustDice, if you're one of the lucky MP investors you'll have got your share of around 10 BTC =)

Some thoughts after reading this because I invested on MoneyPot as well and just checked on my investment on MoneyPot and it is increasing a little

Ryan, Could you add a counter at the investment tab where we could see either the increase/decrease of our invesment in percentage daily? I could not see anything regarding how much my investment has increase or decrease though (either I couldnt find it or there is no such thing), basically I counted them manually by checking on how many bits I have invested and substract them from what I have currently as investment

Great idea this would be a nice feature request for investors.  Maybe a future update?

Indeed right, perhaps the sooner the better or if it is too much to add a counter for each of the investor then it might be better to add a counter just for the site itself, basically about how many bits the site loss/gain in 24 hours period ( or it could be in percentage, whichever is better though )

Currently all it displayed on the site is this, which is less informative imo wether the investor is gaining profit or losing profit throughout the day

Code:

Site Bankroll: 151,168,061.98 bits
Wagered against bankroll: 643,722,205.53 bits
Investor Profit: 11,092,104.82 bits

[RHavar]

Yeah, agree. Ideally we'd take continual snapshots of all figures for the purpose of charting and showing incremental losses/profits/wagered. However at the moment, we have a backlog of over 50 issues and API feature requests, that purely due to time constraints it has to be pushed back a bit. It's a good idea however to do what arallmuus just did, and record your own snapshot and see the progress from there =)

Once we get around to it, we'll definitely do it though and backfill it with the data we already store.

Thanks for the suggestions, we're working as fast as we can while maintaining the security and reliability of the site.

[multicryptos]

Nice servie, are you plannig to include other options into the "investment" section?

[arallmuus]

Yeah, agree. Ideally we'd take continual snapshots of all figures for the purpose of charting and showing incremental losses/profits/wagered. However at the moment, we have a backlog of over 50 issues and API feature requests, that purely due to time constraints it has to be pushed back a bit. It's a good idea however to do what arallmuus just did, and record your own snapshot and see the progress from there =)

Once we get around to it, we'll definitely do it though and backfill it with the data we already store.

Thanks for the suggestions, we're working as fast as we can while maintaining the security and reliability of the site.

No need to rush on it I guess since you have stored the previous data before, once you get over with all the issues then you can start tinkering about this thing though and make some improvement with the investor area tab.

Anyway ryan, I saw this site (minidice.ga) popped out earlier and claimed that it is backed by moneypot, but I dont see it is listed officialy on the applications tab though and it is currently on the not verified state, could you confirm about this site here https://bitcointalk.org/index.php?topic=1080136.0 ?

Cheers

[RHavar]

Hey, I just verified the domain. The point of the verification, is to make sure they own the domain (e.g. I don't want people pretending to be an existing site) rather than I'm partnered with them in any way.


But the actual MoneyPot system itself is completely open (Even if I don't verify the domain), anyone is allowed to use it. It's up to you, as the user if you want to authorize the app and how much money you want to deposit into it. That's why all apps have a balance, they can only use that money as opposed to using your actual MoneyPot balance (or investment).

Perhaps I should create a better splash screen which says exactly what apps can and can not do. But basically they can:

* Bet with ONLY the money you give them
* See your username
* See how much money they can spend
* See a deposit address, that is specifically tied to their app


So as you can see, it's more or less perfectly safe to play at even the most evil casino as long as you only authorize them with a little amount of money. That said, I'm regularly keeping an eye out on the behavior of casinos using our API, and will not put up with any that have untowards behavior.


Also as an investor, you'll be glad to know all bets are verified to make sure they are +EV and less than the kelly criterion, so you too are protected against bad actors.

[arallmuus]

Hey, I just verified the domain. The point of the verification, is to make sure they own the domain (e.g. I don't want people pretending to be an existing site) rather than I'm partnered with them in any way.


But the actual MoneyPot system itself is completely open (Even if I don't verify the domain), anyone is allowed to use it. It's up to you, as the user if you want to authorize the app and how much money you want to deposit into it. That's why all apps have a balance, they can only use that money as opposed to using your actual MoneyPot balance (or investment).

Perhaps I should create a better splash screen which says exactly what apps can and can not do. But basically they can:

* Bet with ONLY the money you give them
* See your username
* See how much money they can spend
* See a deposit address, that is specifically tied to their app


So as you can see, it's more or less perfectly safe to play at even the most evil casino as long as you only authorize them with a little amount of money. That said, I'm regularly keeping an eye out on the behavior of casinos using our API, and will not put up with any that have untowards behavior.

Is it safe to assume that anyone could use it even without contacting you beforehand as they please? If so what will be the different between dustdice and betterbets compared to this minidice website since both dustdice and betterbets are on the application tab? Although it is now verified, I dont see that it is listed on the application tab, basically people wont even know that the site exist in the moneypot system though ( to be honest that site lacks of everything and dont think that it will attract players though )

Also as an investor, you'll be glad to know all bets are verified to make sure they are +EV and less than the kelly criterion, so you too are protected against bad actors.

I have no doubt about this since this is coming from you and this is my sole reason I am investing here (not much, atleast I am increasing it each day though ) 

[RHavar]

Is it safe to assume that anyone could use it even without contacting you beforehand as they please? If so what will be the different between dustdice and betterbets compared to this minidice website since both dustdice and betterbets are on the application tab? Although it is now verified, I dont see that it is listed on the application tab, basically people wont even know that the site exist in the moneypot system though ( to be honest that site lacks of everything and dont think that it will attract players though )

That's right, there's no permission required to create MoneyPot app (which is kind of the beauty of it). Just hit "Create an app" in the footer, and you're free to use our API!  I wasn't aware of MiniDice until today =)

If you authorize the site, it will appear in your "Apps" table, but unless you do that it will be hidden (so it's up to apps to individually promote themselves). If the app does do something really unique or special or a lot of fun, I'd be more than happy to feature them (like DustDice and BetterBets). There's a few up-and-coming apps which are looking great, so we'll definitely see that list expand.

I have no doubt about this since this is coming from you and this is my sole reason I am investing here (not much, atleast I am increasing it each day though ) 

Thanks, that means a lot. I hope your investment does well. Just remember, if you're not ok with losing the money, you're definitely investing too much. I don't mean to scare anyone, but it really is a very high-risk investment.  =)

[RHavar]

I've embedded a muut forum into moneypot:   https://www.moneypot.com/forum mainly as a place for developers to post questions and have some developer discussions. But feel free to post any general stuff there as well

[elm]

is a referral program on MP to do list? thanks

[Pores]

I actually use MoneyPot as my main wallet now. Everything I need to manage my bitcoins are in there