MoneyPot.com :: The bitcoin gambling wallet

[ranlo]

I've decided to put MoneyPot.com up for auction, full details are here:

https://bitcointalk.org/index.php?topic=1249919.0

Note to players/casinos: Any change of ownership, or event that would have any impact or risks will be clearly announced significantly in advance.

Users balances, logs, ip addresses, deposit and withdrawal history will **NOT** be included in this sale

Aside from the workload, is there any special reason you are selling this ? Its kinda a waste because either why you as the owner and investor there is making money while its still running

I'm wondering the same thing -- what's the motivation behind it? With how profitable it is, it seems like you could just hire someone to take some of the load off.

[ranlo]

Aside from the workload, is there any special reason you are selling this ? Its kinda a waste because either why you as the owner and investor there is making money while its still running

I don't think it's fair for app developers if I just leave it running idle if I am able to find a new owner who had more time for it. Also, it's a huge liability to just leave unattended (e.g. Just today, I had to do a security update for libpng buffer overflow, which could potentially haven exploited by a hacker with the thumbnail uploading).

How do you even find out about all the security updates that need to be done? This is what's personally kept me from getting involved in running an important crypto site -- I don't have the knowledge of how to keep things secured all the time.

[JackpotRacer]

very sad moment for all app owners IMO

IMO there are 2 trusted guys out there who could buy and manage moneypot but why should they buy it?

it looks that moneypot was a good idea but a short living one

who had thought about that this will happen?

we did not think about this option and we are not coder and have coders who are working on other apps. what I mean is that an heads up for app dev much earlier would have been fair
so they could stop developing new apps

Ryan is the boss and he can do with his stuff whatever he likes.....he even can give moneypot away for one lollipop

still shocked and sad

[DiamondCardz]

I've decided to put MoneyPot.com up for auction, full details are here:

https://bitcointalk.org/index.php?topic=1249919.0

Note to players/casinos: Any change of ownership, or event that would have any impact or risks will be clearly announced significantly in advance.

Users balances, logs, ip addresses, deposit and withdrawal history will **NOT** be included in this sale

I'm sad to see you let go of MoneyPot, it's a great service and I'm sure you could bring it to great new heights if you keep hold of it.

And just as ShitDice, the newest MoneyPot app, started taking off too.

[ranlo]

I've decided to put MoneyPot.com up for auction, full details are here:

https://bitcointalk.org/index.php?topic=1249919.0

Note to players/casinos: Any change of ownership, or event that would have any impact or risks will be clearly announced significantly in advance.

Users balances, logs, ip addresses, deposit and withdrawal history will **NOT** be included in this sale

I'm sad to see you let go of MoneyPot, it's a great service and I'm sure you could bring it to great new heights if you keep hold of it.

And just as ShitDice, the newest MoneyPot app, started taking off too.

I'd love to hear who puts in bids, so I dislike it being silent. I thought about putting in my own offer but I wouldn't be the right person to ensure it's safe/secure, sadly. Not to mention legality concerns.

[BetterBets.io]

I've decided to put MoneyPot.com up for auction, full details are here:

https://bitcointalk.org/index.php?topic=1249919.0

Note to players/casinos: Any change of ownership, or event that would have any impact or risks will be clearly announced significantly in advance.

Users balances, logs, ip addresses, deposit and withdrawal history will **NOT** be included in this sale

I'm sad to see you let go of MoneyPot, it's a great service and I'm sure you could bring it to great new heights if you keep hold of it.

And just as ShitDice, the newest MoneyPot app, started taking off too.

I'd love to hear who puts in bids, so I dislike it being silent. I thought about putting in my own offer but I wouldn't be the right person to ensure it's safe/secure, sadly. Not to mention legality concerns.

We are very confident the new owner(s) chosen would be the right person(s) for the job. Ryan is very meticulous in how things are handled and this we feel will be handled no differently. This is of course our opinion based on months of working with him to promote the growth of MP and BB.

[ranlo]

I've decided to put MoneyPot.com up for auction, full details are here:

https://bitcointalk.org/index.php?topic=1249919.0

Note to players/casinos: Any change of ownership, or event that would have any impact or risks will be clearly announced significantly in advance.

Users balances, logs, ip addresses, deposit and withdrawal history will **NOT** be included in this sale

I'm sad to see you let go of MoneyPot, it's a great service and I'm sure you could bring it to great new heights if you keep hold of it.

And just as ShitDice, the newest MoneyPot app, started taking off too.

I'd love to hear who puts in bids, so I dislike it being silent. I thought about putting in my own offer but I wouldn't be the right person to ensure it's safe/secure, sadly. Not to mention legality concerns.

We are very confident the new owner(s) chosen would be the right person(s) for the job. Ryan is very meticulous in how things are handled and this we feel will be handled no differently. This is of course our opinion based on months of working with him to promote the growth of MP and BB.

I'm more curious about the bidders because I might be willing to partner with someone/another entity, .

[DiamondCardz]

Ryan, can I query why in transactions such as the following:

https://blockchain.info/tx/a4dc95653034e9d003558eada4ab92a5c05ea008e3dc69ed3e2857c34b6a111c

Despite subtracting 100 bits for a transaction fee, only 34.1 bits are actually used to pay for a transaction fee? Is that an error, is there a calculation that goes on, is it a problem with inputs, or...?

[DiamondCardz]

Ryan, can I query why in transactions such as the following:

https://blockchain.info/tx/a4dc95653034e9d003558eada4ab92a5c05ea008e3dc69ed3e2857c34b6a111c

Despite subtracting 100 bits for a transaction fee, only 34.1 bits are actually used to pay for a transaction fee? Is that an error, is there a calculation that goes on, is it a problem with inputs, or...?

We use bitcoin's dynamic fee estimation logic to decide how much transaction fees to actually use. This means it greatly varies depending on a) How many inputs it sources  and b) How much block contention there is.   I've seen it use fees from anywhere between 20 bits  and 1600 bits (when we were getting spammed with dust). To make it simple for users, I just charge a static, predictable 100 bit withdrawal fee, regardless of what the mining fees actually are.

Ahh, I see. Okay then, that sounds fair enough. Thanks for your response, I appreciate it.

[actmyname]

The website is down for me right now... Any update as to what's going on?

This downtime is keeping me from doing my ShitDice duties!

EDIT: Nevermind! What happened?

[Shogen]

Aside from the workload, is there any special reason you are selling this ? Its kinda a waste because either why you as the owner and investor there is making money while its still running

I don't think it's fair for app developers if I just leave it running idle if I am able to find a new owner who had more time for it. Also, it's a huge liability to just leave unattended (e.g. Just today, I had to do a security update for libpng buffer overflow, which could potentially haven exploited by a hacker with the thumbnail uploading).

Sigh, I was gone for a few days and just come back to read this sad news. I believe the sale is a bad idea for further development of MP as the new owner has to gain the trust starting from scratch. I see on the auction thread that you are not going to sell it to a completely anonymous person, but TBH there are only a few persons out there that people generally trust for such a large amount of btc and many of those persons are already running their own site and probably have little incentive to buy MP.

Anyway, you have done an excellent job in promoting and running MP for the past months. Thanks.

[ranlo]

Aside from the workload, is there any special reason you are selling this ? Its kinda a waste because either why you as the owner and investor there is making money while its still running

I don't think it's fair for app developers if I just leave it running idle if I am able to find a new owner who had more time for it. Also, it's a huge liability to just leave unattended (e.g. Just today, I had to do a security update for libpng buffer overflow, which could potentially haven exploited by a hacker with the thumbnail uploading).

Sigh, I was gone for a few days and just come back to read this sad news. I believe the sale is a bad idea for further development of MP as the new owner has to gain the trust starting from scratch. I see on the auction thread that you are not going to sell it to a completely anonymous person, but TBH there are only a few persons out there that people generally trust for such a large amount of btc and many of those persons are already running their own site and probably have little incentive to buy MP.

Anyway, you have done an excellent job in promoting and running MP for the past months. Thanks.

Someone with an existing setup has MORE incentive to get MP. Cross-promotion and a growing base benefit BOTH businesses.

[Shogen]

Someone with an existing setup has MORE incentive to get MP. Cross-promotion and a growing base benefit BOTH businesses.

I am not sure I understand it. I mean, MP and the other bitcoin gambling sites are competing with each other and most of the games on MP have a relatively lower edge. Let's say for example, if Stunna or Dean buy MP, sure he could get some of the MP users to switch to use PD/PRC but it is far more likely for him to get his PD/PRC users to switch to MP and to play on those games with a lower edge (and owner of MP has a small take on profit after commission to app owners and investors). How could it be a good deal to him? 

[ranlo]

Someone with an existing setup has MORE incentive to get MP. Cross-promotion and a growing base benefit BOTH businesses.

I am not sure I understand it. I mean, MP and the other bitcoin gambling sites are competing with each other and most of the games on MP have a relatively lower edge. Let's say for example, if Stunna or Dean buy MP, sure he could get some of the MP users to switch to use PD/PRC but it is far more likely for him to get his PD/PRC users to switch to MP and to play on those games with a lower edge (and owner of MP has a small take on profit after commission to app owners and investors). How could it be a good deal to him? 

Why do companies do takeovers of their competition? If that's seriously your question, I highly suggest you just look into basic economics, .

[Shogen]

Someone with an existing setup has MORE incentive to get MP. Cross-promotion and a growing base benefit BOTH businesses.

I am not sure I understand it. I mean, MP and the other bitcoin gambling sites are competing with each other and most of the games on MP have a relatively lower edge. Let's say for example, if Stunna or Dean buy MP, sure he could get some of the MP users to switch to use PD/PRC but it is far more likely for him to get his PD/PRC users to switch to MP and to play on those games with a lower edge (and owner of MP has a small take on profit after commission to app owners and investors). How could it be a good deal to him? 

Why do companies do takeovers of their competition? If that's seriously your question, I highly suggest you just look into basic economics, .

Most of the horizontal M&A happen in industries in oligopoly state such that the firms can benefit from economies of scale and reduction of competition, but IMHO the online gambling industry is more like in monopolistic competition with lots of different sites offering different games and slightly different services. The synergy effect would not be that high...

[hopenotlate]

This auction is a bad news for me: I was fine and comfortable having my funds held by Ryan, not sure if in the furure I will keep on using MoneyPot

[JackpotRacer]

This auction is a bad news for me: I was fine and comfortable having my funds held by Ryan, not sure if in the furure I will keep on using MoneyPot

yes we have talked to a few users and investors and they are thinking likewise and to be frank we want to see who will buy it and then to decide to sell our 3 apps or to go on with MP

[hopenotlate]

I'm sorry if my opinion may damage or penalize auction of the auction: it wasn't the purpose of my post and hope it will not, I only wanted to show my trust in Ryan.

Sorry again for it.

[ranlo]

I'm sorry if my opinion may damage or penalize auction of the auction: it wasn't the purpose of my post and hope it will not, I only wanted to show my trust in Ryan.

Sorry again for it.

It won't have any effect that isn't already there. Everyone's in the same boat. There are very few people around here I'd trust with a long-term investment. Ryan and Dooglus are at the top of that list.

[JackpotRacer]

@Moneypot/Ryan

I apologize in advance for my english and I hope I can make my point understandable

we have now 3 apps on moneypot. One app is featured. All 3 apps are listed on
http://dicesites.com/moneypot  I am mentioning it because the list was discussed here in thread.

we think that there are many app owners out there who are not interested to get featured. But on the other hand there are app owners who want to get featured because they take the Moneypot business idea very serious and it would help them to get new users to their app.

We as app owners would like to ask Moneypot/Ryan to publish explicit rules what an app owner will need to do to get his app(s)featured. Fair rules which will give all app owners a fair chance to get their app(s) featured after meeting all requirements.

Like for example:
no free domains
minimum wager of.........
minimum bets of..........
app that is running for x weeks, month ….....
an app will be taken off the featured list if there is x time no action/bets
etc

an example is https://www.moneypot.com/apps/65-coining-a-dice
there is about for 2 month no action/bet. Why is this app still featured?
edit: Sharp Dice has no action for the last 10 days

We think that a featured app is seen by all registered moneypot user who visit the moneypot website and it will help apps to get more visitors and if apps will have more visitors/players = investors and moneypot will profit more. (win win situation)
 
and all the not registered user who visit the moneypot website are right now seeing 3 apps and we are asking why those 3 apps? Why not let rotate all the other featured apps on this specific space?



thank you for reading