🌟🎲🌟 MoneyPot.com

[Deuceisgood]

I was invested in the MP bankroll from late April until mid-May, when I withdrew to Bitfinex in order to short bitcoin around $680. (Due to luck more than anything, my coin was out of BFX at the time of hack - this post isn't about the BFX hack per se.) I have one suggestion to make, and one question to ask:

Suggestion A: MP needs an app or other function to allow investors & gamblers opportunity to hedge and/or leverage their btc. I wouldn't have withdrawn my btc at that time if I could have hedged/shorted within the MP domain. (I'm sharing this because almost certainly I was not the only MP user who had this experience.) When MP has a hedging function, maybe a CFD app, then MP will be significantly 'stickier' for users. If MP links up with Augur when it launches, that would be HUGE. Alternately I hope MP finds an app that has btc CFDs. Throw in some equity indices and commodities, and that would be over the top. It will require a different revenue/profit model (not 'provably fair'), but certainly something can be worked out? The poker site 'Bitlegit' wasn't provably fair, so it appears MP is ready to go that route.

Question B: In that ~2 month window roughly leading up to the DDOS attack and extended downtime the bankroll was booking profits on the order of 0.50% per day. I tracked my returns daily and on June 15 my daily CAGR (constant average growth rate) was running 0.56%. Yes, that is over 600% per annum. According to my hand-recorded stats, there was one 53-day stretch during which only 6 days saw a loss.

Since returning to operations following the DDOS bankroll returns have been decidedly negative. I haven't been keeping exact figures but we can see that investor profits have fallen from about 434 btc in mid-July to a current 368 btc.

Are the DDOS attack and the subsequent operating recovery related in some way to the dramatic fall in bankroll returns? Have there been any changes since the DDOS/server migration that would alter expected bankroll returns?

[paying_mlm]

NOTE:   Re-posting to moneypot thread to get more exposure...

Hello,

I appreciate any help/guidance from members in following area:

1.  How to implement progressive jackpot using moneypot API (just like bit-exo.com)
2.  How to raise house edge to more than 1% but pass on only 1% house edge to moneypot api?  Additional house edge will be used to fund jackpot and other freebies.
3.  How does max-subsidy parameter of bets endpoint of moneypot api work?
from moneypot api docs:
max_subsidy (optional, float) a value (in satoshis) of the most your app is willing to pay for this bet to be placed. This money is given to investors, from your app, when otherwise the bet would be too unattractive for investors to accept. We minimize the total subsidy given so his functions a pure limit. This defaults to 0, and is only settable in the confidential flow. It can also be set to a negative number, if you want the bet to be rejected unless you make a certain amount of profit.

4.  Can I take hash from moneypot api today and use it (or place a bet against) after two days or so?  Normally, what is validity period for such server seed hashes?

PS:  I know that the moneypot support/admin team is the best resource for my queries, and I am in contact with them and I am getting all the help and support they can provide.  This post is to widen my knowledge and get other perspective/view on the subject

Thank you in advance for any help/guidance you may provide.

[ranlo]

NOTE:   Re-posting to moneypot thread to get more exposure...

Hello,

I appreciate any help/guidance from members in following area:

1.  How to implement progressive jackpot using moneypot API (just like bit-exo.com)
2.  How to raise house edge to more than 1% but pass on only 1% house edge to moneypot api?  Additional house edge will be used to fund jackpot and other freebies.
3.  How does max-subsidy parameter of bets endpoint of moneypot api work?
from moneypot api docs:
max_subsidy (optional, float) a value (in satoshis) of the most your app is willing to pay for this bet to be placed. This money is given to investors, from your app, when otherwise the bet would be too unattractive for investors to accept. We minimize the total subsidy given so his functions a pure limit. This defaults to 0, and is only settable in the confidential flow. It can also be set to a negative number, if you want the bet to be rejected unless you make a certain amount of profit.

4.  Can I take hash from moneypot api today and use it (or place a bet against) after two days or so?  Normally, what is validity period for such server seed hashes?

PS:  I know that the moneypot support/admin team is the best resource for my queries, and I am in contact with them and I am getting all the help and support they can provide.  This post is to widen my knowledge and get other perspective/view on the subject

Thank you in advance for any help/guidance you may provide.

1) pseudocode: if bet { progressiveJackpot += houseEdgeofBet*0.5*percentProfittoAllocate }
2) if houseEdge > 1% runLocal(); else sendtoMP();
3) Can't answer this one myself
4) Also can't answer. I believe as long as you're logged in and on the same app it will remain, but I'm not 100% sure on that.

[JackpotRacer]

NOTE:   Re-posting to moneypot thread to get more exposure...

Hello,

I appreciate any help/guidance from members in following area:

1.  How to implement progressive jackpot using moneypot API (just like bit-exo.com)
2.  How to raise house edge to more than 1% but pass on only 1% house edge to moneypot api?  Additional house edge will be used to fund jackpot and other freebies.
3.  How does max-subsidy parameter of bets endpoint of moneypot api work?
from moneypot api docs:
max_subsidy (optional, float) a value (in satoshis) of the most your app is willing to pay for this bet to be placed. This money is given to investors, from your app, when otherwise the bet would be too unattractive for investors to accept. We minimize the total subsidy given so his functions a pure limit. This defaults to 0, and is only settable in the confidential flow. It can also be set to a negative number, if you want the bet to be rejected unless you make a certain amount of profit.

4.  Can I take hash from moneypot api today and use it (or place a bet against) after two days or so?  Normally, what is validity period for such server seed hashes?

PS:  I know that the moneypot support/admin team is the best resource for my queries, and I am in contact with them and I am getting all the help and support they can provide.  This post is to widen my knowledge and get other perspective/view on the subject

Thank you in advance for any help/guidance you may provide.

1) pseudocode: if bet { progressiveJackpot += houseEdgeofBet*0.5*percentProfittoAllocate }
2) if houseEdge > 1% runLocal(); else sendtoMP();
3) Can't answer this one myself
4) Also can't answer. I believe as long as you're logged in and on the same app it will remain, but I'm not 100% sure on that.

is this thread now instead of the slack channel? just asking because I was send to the slack channel with my questions.

why dont you invite him to the slack channel? maybe he will get there the answers he needs because you answered actually that you dont know the answers for his questions

[Xanidas]

why increase the minimum transaction fee you will deduct on our withdrawal but still pay less than 10k sats on my transaction? not a big amount but isn't it like stealing? deducting 20k sats on our WD and you will only pay 4k sats?

[ranlo]

why increase the minimum transaction fee you will deduct on our withdrawal but still pay less than 10k sats on my transaction? not a big amount but isn't it like stealing? deducting 20k sats on our WD and you will only pay 4k sats?

https://bitcointalk.org/index.php?topic=1366689.msg15790842#msg15790842
https://bitcointalk.org/index.php?topic=1366689.msg15791380#msg15791380

[Lanzador]

Any update on altcoin implementations?

[MillionsBTCdev]

Just for public information:

I am no longer the Lead Developer/coder of Moneypot and have not been since late of July 2016. Reasons are personal but i am still in good terms with Moneypot team and is currently working again on my own app.

Having said this, please do direct all issues to Moneypot team and/or their new dev, CrazyCraig.

Thank you.
-uni

[Lanzador]

Is this due to problems with MP? Or just moving on to other projects?

[retrocoingames]

Is MoneyPot working on an affiliate program at all?

[rrtyui123]

Wow, this is cool, wish there was a faucet though

[hua_hui]

My understanding is (this may be incorrect), that MP will take 1/2 of the HE between their own commission and the app owner commission, and 1% HE seems to be pretty standard to me.

It used to be, but it's now 70% (50% for app, 20% for MP)

I would disagree with this. A bankroll investor will need to risk the possibility that a casino operator will run away will the coins in the bankroll, that the seeds will somehow leak, allowing someone to cheat, and drain ~the entire bankroll, that the coins are otherwise stolen from the casino and the operator cannot afford to cover the cost of the theft, among other possible risks. In order to measure how appropriate it is to take these risks, a potential bankroll investor will need to know how much they should expect to earn by taking these risks.

There are other investments that a potential bankroll investor can make (eg investing in a company, lending for margin loans on an exchange, investing in the stock market), and an investor should invest his money in what he believes have the best risk/reward proposition.

Fair enough. What I would do is to try estimate the EV of the investment as a whole (which is a total crap shoot that involves pulling numbers from your ass for things like counter-party risk) and then use that to determine how much I should risk in the investment itself (which itself uses the kelly <3). But lets say I guestimated the total EV of investing in MP at 1 BTC for the year, I would never actually personally "expect" to make that because there's so many variables (I could easily lose the entire investment, or make double it)

People also need to take into consideration divestment/investment betting as well. There are so many variables. One thing I was planning to do was run a weekly analysis on return, but decided it may not have much use since the past is no determinant of the future so the data, while it's good for the existing period, has no real value going forward. That said, if people do feel it would have value, I can definitely do that moving forward and report weekly or monthly or whatever.

You cannot say that the past have no determinant of the future and so there is no need for data. It reflects on how well MP is doing and is it continue to grow well or sign of slowing down. Similarly, if you can provide data like the weekly profit or so, it gives investors a greater knowledge on their investment choices. They will also have a clearer idea on how MP is doing as compare and how does it stand out from the other gambling sites.

[DebitMe]

Wow, this is cool, wish there was a faucet though

There is a faucet, it is called Jackpot faucet and can be found from the apps page.

[Michail1]

You cannot say that the past have no determinant of the future and so there is no need for data. It reflects on how well MP is doing and is it continue to grow well or sign of slowing down. Similarly, if you can provide data like the weekly profit or so, it gives investors a greater knowledge on their investment choices. They will also have a clearer idea on how MP is doing as compare and how does it stand out from the other gambling sites.

I believe it would be hard to find a site showing weekly profit.  the variance is simply too great.
If MP shows a bad week, then people will start leaving.  Two bad weeks, and the movement will probably more than double.  I think it's dangerous to show 1-2-3 weeks.
I would agree there should be more stats other than simply a lifetime profit though.

Let's be honest, most people want to invest in something if they show a large number for profit.  If you show a small number (not even considering a site losing money for weeks in a row), then you would be less likely to even risk your bitcoin for a small profit, when you might be better off making nothing by having the security of your coins in your own wallet.

Just for public information:

I am no longer the Lead Developer/coder of Moneypot and have not been since late of July 2016. Reasons are personal but i am still in good terms with Moneypot team and is currently working again on my own app.

Having said this, please do direct all issues to Moneypot team and/or their new dev, CrazyCraig.

Thank you.
-uni

Is this due to problems with MP? Or just moving on to other projects?

I would like to know as well.

[J_ROC]

Is MoneyPot working on an affiliate program at all?

MP doesnt have an affiliate program atm, but at bit-exo.com we do offer a referral program.

[dooglus]

I believe it would be hard to find a site showing weekly profit.  the variance is simply too great.
If MP shows a bad week, then people will start leaving.  Two bad weeks, and the movement will probably more than double.  I think it's dangerous to show 1-2-3 weeks.
I would agree there should be more stats other than simply a lifetime profit though.

Just-Dice.com publishes daily profits. Sometimes they're positive and sometimes they're negative.

Anyone investing in a dice site ought to understand that there is a lot of variance. If showing them the facts stops them investing then good - we don't want investors who don't understand what they are investing in.

See https://just-dice.com/misc/wagered.txt for a day-by-day list of the site profits, and https://just-dice.com/images/all_time_profit.png for a chart of the site profit over time. It goes up and down, much as expected.

[ranlo]

I believe it would be hard to find a site showing weekly profit.  the variance is simply too great.
If MP shows a bad week, then people will start leaving.  Two bad weeks, and the movement will probably more than double.  I think it's dangerous to show 1-2-3 weeks.
I would agree there should be more stats other than simply a lifetime profit though.

Just-Dice.com publishes daily profits. Sometimes they're positive and sometimes they're negative.

Anyone investing in a dice site ought to understand that there is a lot of variance. If showing them the facts stops them investing then good - we don't want investors who don't understand what they are investing in.

See https://just-dice.com/misc/wagered.txt for a day-by-day list of the site profits, and https://just-dice.com/images/all_time_profit.png for a chart of the site profit over time. It goes up and down, much as expected.

I think they were wanting personal stats. MP also has public daily profit counters and a chart: http://eeeth.com/mpstats

[dooglus]

I think they were wanting personal stats. MP also has public daily profit counters and a chart: http://eeeth.com/mpstats

I thought all this discussion was in response to someone wanting to know what they can expect to earn by investing in MP:

Let's say I can invest 0.20BTC for 6 months, is there an average on what I would be earning or even a potential, thanks.

[Michail1]

Let's say I can invest 0.20BTC for 6 months, is there an average on what I would be earning or even a potential, thanks.

MP is not a savings account.  You are not paid an interest.

Potential is:
You could lose it all up to owning all bitcoin (if everyone in the world gambled and lost and the other investors, app developers, owners in the site then did the same thing).

Currently, you would be losing money (bitcoin) for the month prior; however, you would have made money in almost every month prior to that.

You are basically gambling with your money without having to pull the trigger and the odds have now slightly turned in your favor.

[gamblingbad]

Any update on altcoin implementations?

This, along with a few other things are being worked on heavily.   Some announcements will be made very soon regarding them all.

CrazyCraig, our new trusted lead developer, has been working his ass off getting everything prepared and getting things rolling for Moneypot.

That have been said for long time and time passes. Still not happend yet.