🌟🎲🌟 MoneyPot.com

[AcoinL.L.C]

Yeah, it is kind of stealing. Imagine if there are hundreds withdrawal request per day, 15k satoshi x 100 = 0.015btc/day stolen from players. It should be not a hard thing to do for a proffesional site like moneypot but seems they do not consider it as an important thing.

What MP is doing is correct, it's just a bit confusing. As a user you only care about the absolute fee you need to pay, but the bitcoin network only cares about how much fees were paid *for the amount of bytes in the transaction*. But as a user of moneypot, you can't control the size of the transaction (which will vary depending on the deposit:withdraw ratio). So what MP (and most sites) do is quote you a flat fee, and you pay that regardless of the transaction size or block pressure. As long as you get your money in a timely fashion, it's pretty irrelevant how much MP itself paid.

(On a side note, one withdraw at bustabit once used 0.018 BTC ( 11 USD at the time) when it caused the majority of the wallet to get sweeped up but the user only paid the flat fee. It wouldn't be fair to charge the user 0.018 BTC for the withdrawal, as it wasn't his decision to sweep up the wallet. And likewise, users really shouldn't complain when they pay more than what the site pays for that individual transaction)

Thank you Ryan.

A few months when the blockchain was extremely bloated MoneyPot was spending an exorbitant amount to process withdrawals (while still charging 100 bits). MoneyPot is net negative from transaction fees, and we are not profiting from them.


As far as the question regarding volume: Our volume has certainly taken a hit since the downtime. Its not unusual however, for spurts of larger than normal volume. Prior to the downtime we were averaging over 200BTC and ~3.5MM bets a day in volume, over the past 24 hours we have done over 140BTC and 2.6MM in bets.

[1714763723]

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[1714763723]

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[oHnK]

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

[CrazyCraig]

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.

[really?]

...

We are not attempting to profit off of fees.  

There are instances where we end up saving on the fee and there are instances where we end up paying more for the fee.

When the blockchain is backed up, we have had days when we spend over 0.08 just in overage fees.

The setup is for the dynamic fee to be used that will generate confirmations quickly.  It may be less than what the user has paid.  It might be more than what the user paid.

To my knowledge, the same system is used on Bustabit, Primedice, and other gaming sites.

I understand now, thank you. It wasn't very clear before. I saw you also added some info in the send section.
Good job.

[gyo9i]

Again.
Deposit not credited after 12 conf.

[cazkooo]

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/d8ede284c81313c6640fb1ad2e87f3db39bc615e4d19bf796f45e75b9cac3cf9

From 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/cadce78e66237e3b52ce94b35712f0412cf6d2177c4ddca9d0dc675f4bb85826
Size: 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.

Sorry Im not really a tech guy but doesnt moneypot send 10k satoshis previous everytime we use the default options and 20k everytime we use the top priority options? what about adding this feature back as this seems to be the best possible thing for both sides and moneypot wont have to deal with this extra charges anymore

Also it seems this guy won another 11 btc https://www.moneypot.com/users/copypasta

[AcoinL.L.C]

Sorry Im not really a tech guy but doesnt moneypot send 10k satoshis previous everytime we use the default options and 20k everytime we use the top priority options? what about adding this feature back as this seems to be the best possible thing for both sides and moneypot wont have to deal with this extra charges anymore

Also it seems this guy won another 11 btc https://www.moneypot.com/users/copypasta

Please read the replies above, this has already been answered.

[cazkooo]

Sorry Im not really a tech guy but doesnt moneypot send 10k satoshis previous everytime we use the default options and 20k everytime we use the top priority options? what about adding this feature back as this seems to be the best possible thing for both sides and moneypot wont have to deal with this extra charges anymore

Also it seems this guy won another 11 btc https://www.moneypot.com/users/copypasta

Please read the replies above, this has already been answered.

Im asking why dont you use the old system? if someone wants to withdraw high amount then it is his fault for not setting up the withdrawal with more fees to it , additionally you guys can set the 30 , 40 or even 50k bits options for someone that wants to get his confirmation faster for high amount withdrawal

[Valzador]

Is there a way we can see how much we've made or lost investing in the bankroll?

[gamblingbad]

Is there a way we can see how much we've made or lost investing in the bankroll?

Only way is count all deposits and withdraws togheter and what u have in account.

[ranlo]

Is there a way we can see how much we've made or lost investing in the bankroll?

A quick and easy way is to divest all and reinvest the entire amount. This will now show that amount in your history. At any time, assuming you haven't added more, you just take currentBalance-historyBalance=profit/loss. You can do this every time you want to add more, too. I personally run a spreadsheet.

[Valzador]

Is there a way we can see how much we've made or lost investing in the bankroll?

Only way is count all deposits and withdraws togheter and what u have in account.

It would be nice if they could implement a way to see this.
 
Almost every site has the feature enabled.

[AcoinL.L.C]

Is there a way we can see how much we've made or lost investing in the bankroll?

Only way is count all deposits and withdraws togheter and what u have in account.

It would be nice if they could implement a way to see this.
 
Almost every site has the feature enabled.

Will add to list of developments

[Valzador]

Is there a way we can see how much we've made or lost investing in the bankroll?

A quick and easy way is to divest all and reinvest the entire amount. This will now show that amount in your history. At any time, assuming you haven't added more, you just take currentBalance-historyBalance=profit/loss. You can do this every time you want to add more, too. I personally run a spreadsheet.

Yea, but I want to know about my past profit/losses

Is there a way we can see how much we've made or lost investing in the bankroll?

Only way is count all deposits and withdraws togheter and what u have in account.

It would be nice if they could implement a way to see this.
 
Almost every site has the feature enabled.

Will add to list of developments

Thank you.

[Valzador]

Also could you implement pages for the history tab.

It only shows the last 100 results. Can we see anything earlier?

[cudjex]

Hi everyone.

What is the reason of POSITIVE_EV_BET 403 error.

My script was working perfectly, but now it is not working.

Anybody helps me?

[Dexon]

Hi everyone.

What is the reason of POSITIVE_EV_BET 403 error.

My script was working perfectly, but now it is not working.

Anybody helps me?

Means your bet is +EV which moneypot cannot allow.
If your script was working before and you didn't changed a thing, it probably means that, till now, you haven't encountered the conditions that makes it +EV.

Edit: With a quick search I found this: http://www.wikihow.com/Calculate-an-Expected-Value (could be of any help for you)

[cudjex]

Hi everyone.

What is the reason of POSITIVE_EV_BET 403 error.

My script was working perfectly, but now it is not working.

Anybody helps me?

Means your bet is +EV which moneypot cannot allow.
If your script was working before and you didn't changed a thing, it probably means that, till now, you haven't encountered the conditions that makes it +EV.

Edit: With a quick search I found this: http://www.wikihow.com/Calculate-an-Expected-Value (could be of any help for you)

Thanks for reply..

[hua_hui]

Is there a way we can see how much we've made or lost investing in the bankroll?

Only way is count all deposits and withdraws togheter and what u have in account.

It would be nice if they could implement a way to see this.
 
Almost every site has the feature enabled.

Will add to list of developments

Thanks a lot. I am also eager to have that features. I am always referring back and forward and doing mental calculation. Sometime i need to do two times or more cause i keep forgetting the value when i go to another page.

[cudjex]

I also have a question...

Is user-stats endpoint working?

https://www.moneypot.com/api-docs#v1-public-get-user-stats


When I try to get stats, there is an error. Error says my access_token invalid but it is 100% right.

Regards.

@Dexon