🌟🎲🌟 MoneyPot.com

[AcoinL.L.C]

Merry Christmas everyone.

Support will be a little slow today and tomorrow (as all of the Moneypot team is celebrating the holidays).  We apologize for that but will try to check in from time to time if there are any issues.

A lot of good points were brought up and I will address them after the holidays (or if I can sneak in some time).  @Fiscorcle, there will be optional kelly multipliers in the future

You are joking right?
Your dev CrazyCraig jumped in my thread complaining that I'm not allowed a holiday!

Even though what was actually happening was totally different as I'm sure you are aware

Dean, he posted that before you announced the reason for the site going down, no harm/shade intended. Happy holidays

[DarkStar_]

Huge jackpot wins often lead to unwarranted speculation and panic.  Big wins also sometimes result in big investors pulling out which causes a domino effect of more investors pulling out.

Moneypot also accrues high expenses for processing and storing all the bets. 

In the end, it just doesn't make sense to allow for high multipliers.  It's much easier for many of the parties involved to just keep it simple.

If you ask me, it will be very hard to stop those bets with the way moneypot is set up. You don't even need chained bets (which MP said that they would disable apps that do that, or might), just create a bet like this:

0.01BTC bet

99.99999% (or whatever chance) to lose 10 satoshi
0.00001 (or whatever chance) to win 1 Bitcoin

It would only need a 100 multiplier, technically and still is basically the same as high multiplier bets, except a higher edge is paid so more commission for app owners and MP.

[BetKing.io]

Merry Christmas everyone.

Support will be a little slow today and tomorrow (as all of the Moneypot team is celebrating the holidays).  We apologize for that but will try to check in from time to time if there are any issues.

A lot of good points were brought up and I will address them after the holidays (or if I can sneak in some time).  @Fiscorcle, there will be optional kelly multipliers in the future

You are joking right?
Your dev CrazyCraig jumped in my thread complaining that I'm not allowed a holiday!

Even though what was actually happening was totally different as I'm sure you are aware

Dean, he posted that before you announced the reason for the site going down, no harm/shade intended. Happy holidays

Hi
We spoke already. I was joking around in that post. Maybe it wasn't as obvious as I assumed (usual)

Merry Christmas

[dogedice.me]

I do not see the point in limiting maximum multiplier to 9900x , other dice sites allow multiplier of up to 990000x (for example betking).
You probably should ask investors at what kelly they want to use its nicely implemented at new dice site.

New changes will prevent big percentage of bankroll to be won at once however it will also limit growth rate.

We will soon be allowing users to choose their own kelly multiplier.

Investors have expressed a strong disinterest in backing bets where they risk several bitcoin to win 1 Bit and many other similar scenarios.  

Huge jackpot wins often lead to unwarranted speculation and panic.  Big wins also sometimes result in big investors pulling out which causes a domino effect of more investors pulling out.

Moneypot also accrues high expenses for processing and storing all the bets.  

In the end, it just doesn't make sense to allow for high multipliers.  It's much easier for many of the parties involved to just keep it simple.

You are wrong here. None of the investors from BitDice or BetKing when there were huge wins pulled out, they did exactly opposite - invested more. And we are talking of wins from 500-1000BTC, not 100.

Mathematically there's no difference between very low chance multiplier and very high ones for casino ( and investors ) in the long run.

What you had wrong is very low HE and huge cut on investors. No wonder they aren't satisfied as MP has economically inadequate terms biased for owners who risk nothing and staff who do "close to" nothing ( you do not do marketing, and have no costs except staff )

Regards,
Alex.

[CrazyCraig]

We have several thousand dollars of infrastructure with cost ever increasing

[dogedice.me]

We have several thousand dollars of infrastructure with cost ever increasing

Then you need to optimize code, as it's way over normal price, even if you use whole AWS stack and not dedicated servers which are like x10 lower in running costs.

Regards,
Alex.

[AcoinL.L.C]

I do not see the point in limiting maximum multiplier to 9900x , other dice sites allow multiplier of up to 990000x (for example betking).
You probably should ask investors at what kelly they want to use its nicely implemented at new dice site.

New changes will prevent big percentage of bankroll to be won at once however it will also limit growth rate.

We will soon be allowing users to choose their own kelly multiplier.

Investors have expressed a strong disinterest in backing bets where they risk several bitcoin to win 1 Bit and many other similar scenarios. 

Huge jackpot wins often lead to unwarranted speculation and panic.  Big wins also sometimes result in big investors pulling out which causes a domino effect of more investors pulling out.

Moneypot also accrues high expenses for processing and storing all the bets. 

In the end, it just doesn't make sense to allow for high multipliers.  It's much easier for many of the parties involved to just keep it simple.

You are wrong here. None of the investors from BitDice or BetKing when there were huge wins pulled out, they did exactly opposite - invested more. And we are talking of wins from 500-1000BTC, not 100.

Mathematically there's no difference between very low chance multiplier and very high ones for casino ( and investors ) in the long run.

What you had wrong is very low HE and huge cut on investors. No wonder they aren't satisfied as MP has economically inadequate terms biased for owners who risk nothing and stuff who do "close to" nothing ( you do not do marketing, and have no costs except stuff )

Regards,
Alex.

Alex, you are incorrect. The difference is that the big wins on BitDice and BetKing came from players risking a significant amount of Bitcoin, whereas the big wins on MoneyPot primarily occurred from users betting what is essentially dust. One of our largest investors pulled out specifically citing this has his biggest beef.

I understand you are also salty that a large portion of your userbase switched to MoneyPot (primarily Bit-exo.com), but you need to refrain from trolling.

[Quickseller]

Mathematically there's no difference between very low chance multiplier and very high ones for casino ( and investors ) in the long run.

It is mathematically the same, however it may be difficult for investors to ignore their emotions when they see a large win with a very small bet, even if the specific gambler who won is still down after their win.

Also each bet costs MP a certain amount of money to process and store and disallowing high multiples bets discourages very small bets somewhat which allows MP to keep their costs (and effectively their commissions) down.

[dogedice.me]

Alex, you are incorrect. The difference is that the big wins on BitDice and BetKing came from players risking a significant amount of Bitcoin, whereas the big wins on MoneyPot primarily occurred from users betting what is essentially dust. One of our largest investors pulled out specifically citing this has his biggest beef.

I understand you are also salty that a large portion of your userbase switched to MoneyPot (primarily Bit-exo.com), but you need to refrain from trolling.

Actually, I've never trolled anyone on the forum. Even with BitExo situation, which I think you are aware of, I decided not to start a storm in a teacup, and I have all the rights to do it. You do agree that for business owners only wager counts, not people being online? Let's forget it, I really do not care about it.

I've left my comment with another reason. I rarely participate in discussions as unfortunately, I do not have time to be on the forum. But when I strongly disagree - I think I have a right to left such comment. People are free to accept or deny it or discuss. The least I wanted with it is a brag like we or someone else is better. Based on MP's stats I really do not understand why parties who risks the most earns the less. In economic terms risks always pays out. And if that investor would be paid based on his risk, I think he wouldn't divest, but again HE of 0.1 and even 0.5% is too low for all participants.

Regards,
Alex.

[dogedice.me]

Since you are a public company with a legal team behind your site, can you please private message me your details so our legal team can get in contact with yours about what we may believe to be libel?  Thanks.

contact@bitdice.me - our official email.

Regards,
Alex.

[dogedice.me]

Alex, you are incorrect. The difference is that the big wins on BitDice and BetKing came from players risking a significant amount of Bitcoin, whereas the big wins on MoneyPot primarily occurred from users betting what is essentially dust. One of our largest investors pulled out specifically citing this has his biggest beef.

I understand you are also salty that a large portion of your userbase switched to MoneyPot (primarily Bit-exo.com), but you need to refrain from trolling.

Actually, I've never trolled anyone on the forum. Even with BitExo situation, which I think you are aware of, I decided not to start a storm in a teacup, and I have all the rights to do it. You do agree that for business owners only wager counts, not people being online? Let's forget it, I really do not care about it.

I've left my comment with another reason. I rarely participate in discussions as unfortunately, I do not have time to be on the forum. But when I strongly disagree - I think I have a right to left such comment. People are free to accept or deny it or discuss. The least I wanted with it is a brag like we or someone else is better. Based on MP's stats I really do not understand why parties who risks the most earns the less. In economic terms risks always pays out. And if that investor would be paid based on his risk, I think he wouldn't divest, but again HE of 0.1 and even 0.5% is too low for all participants.

Regards,
Alex.

If you're not trolling, you are stating on a public forum under your public company's image bold facts that you are writing and believe to be true.  We would like to challenge you on this.

We are not bragging or using any statistics to take a shot at you.   You claimed that our costs are almost non existent and we are explaining to you why.  

For business income, yes, wagering/volume is the most important factor, but we have explained (even in the post that you quoted) that our high number of bets is a big reason for our high costs.

I honestly believe and could make a great argument for why out of all the parties, Moneypot takes the most risk.  

It's probably best that you don't participate in discussions often.  I think it's quite foolish as the head of an official company to write damaging statements in public that you are not well informed of.

I was thinking that my comment was a part of a discussion on your business model, and even suggestion to optimize it. Never thought it was "damaging". Seems you over-reacting and rather than explain and discuss you attack.

Regards,
Alex.

[JackpotRacer]

but again HE of 0.1 and even 0.5% is too low for all participants.

Regards,
Alex.

I 100% agree with you and I stated this long ago to force a min of 1% HE

[CrazyCraig]

We have several thousand dollars of infrastructure with cost ever increasing

Then you need to optimize code, as it's way over normal price, even if you use whole AWS stack and not dedicated servers which are like x10 lower in running costs.

Regards,
Alex.

As we power several other websites, it is important that we have a stable platform. Here is a breakdown of our infrastructure. Note that this has absolutely nothing to do with optimizing code, but rather providing a redundant environment for our architecture.

3x Load Balancers
2x Web Servers
2x API servers
2x Socketpot Servers
2x Database Servers (Master / Slave configuration for redundancy)
2x Coin Servers (one active, one maintaining chainstate in the event that it needs to be promoted)
1x Dev environment
1x Staging environment

We also have to account for cloudflare, backups, bandwidth, and other related expenses.

Im not going to go further into the specifics of our infrastructure configuration, but you can see that we take our infrastructure seriously.

[dogedice.me]

Alex, you are incorrect. The difference is that the big wins on BitDice and BetKing came from players risking a significant amount of Bitcoin, whereas the big wins on MoneyPot primarily occurred from users betting what is essentially dust. One of our largest investors pulled out specifically citing this has his biggest beef.

I understand you are also salty that a large portion of your userbase switched to MoneyPot (primarily Bit-exo.com), but you need to refrain from trolling.

Actually, I've never trolled anyone on the forum. Even with BitExo situation, which I think you are aware of, I decided not to start a storm in a teacup, and I have all the rights to do it. You do agree that for business owners only wager counts, not people being online? Let's forget it, I really do not care about it.

I've left my comment with another reason. I rarely participate in discussions as unfortunately, I do not have time to be on the forum. But when I strongly disagree - I think I have a right to left such comment. People are free to accept or deny it or discuss. The least I wanted with it is a brag like we or someone else is better. Based on MP's stats I really do not understand why parties who risks the most earns the less. In economic terms risks always pays out. And if that investor would be paid based on his risk, I think he wouldn't divest, but again HE of 0.1 and even 0.5% is too low for all participants.

Regards,
Alex.

If you're not trolling, you are stating on a public forum under your public company's image bold facts that you are writing and believe to be true.  We would like to challenge you on this.

We are not bragging or using any statistics to take a shot at you.   You claimed that our costs are almost non existent and we are explaining to you why.  

For business income, yes, wagering/volume is the most important factor, but we have explained (even in the post that you quoted) that our high number of bets is a big reason for our high costs.

I honestly believe and could make a great argument for why out of all the parties, Moneypot takes the most risk.  

It's probably best that you don't participate in discussions often.  I think it's quite foolish as the head of an official company to write damaging statements in public that you are not well informed of.

I was thinking that my comment was a part of a discussion on your business model, and even suggestion to optimize it. Never thought it was "damaging". Seems you over-reacting and rather than explain and discuss you attack.

Regards,
Alex.

I'd consider attacking posting damaging bold statements that you haven't researched into.  I have made no mention of your site other than giving you an idea of scale of our bets. 

Other than that, I am trying to contact your 'public' company that seems to only be an e-mail.  There is no actual gaming license, and you're flat out refusing to disclose any information other than what your e-mail is.  I'm not really understanding what your 'public' company is if there doesn't seem to be anything behind it.

 In a hypothetical situation, if you run away with the funds, one might believe that our only course of action would be to contact your e-mail from what I currently understand.

Taking into account this: http://prntscr.com/dok6np, you do not need to be a genius to see that's something isn't right. I've got that you database is big, and you have staff, this explains your commission. However you could simply tell it, and not attacking me.

You are asking details, which of course we do not provide upon request. If you do really want to play that game, first, you need to be a legal entity to even start something, as private person with a site can not start a defamation case. Second, you need to ask your legal team to at least qualify my words to actual or assumed damages and third prove that I'm wrong or otherwise it can back-hit you in court.

Regarding your adds, we have to disclose to the official government authorities to prevent tax evasion ( and you can not incorporate otherwise ), not to a private person.

Now, can we chill out, as I'm not going into it anymore?

Regards,
Alex.

[dogedice.me]

As we power several other websites, it is important that we have a stable platform. Here is a breakdown of our infrastructure. Note that this has absolutely nothing to do with optimizing code, but rather providing a redundant environment for our architecture.

3x Load Balancers
2x Web Servers
2x API servers
2x Socketpot Servers
2x Database Servers (Master / Slave configuration for redundancy)
2x Coin Servers (one active, one maintaining chainstate in the event that it needs to be promoted)
1x Dev environment
1x Staging environment

We also have to account for cloudflare, backups, bandwidth, and other related expenses.

Im not going to go further into the specifics of our infrastructure configuration, but you can see that we take our infrastructure seriously. This has nothing to do with optimizing code.

Thanks for the detailed answer, that's pretty cool that you have such infrastructure and explains the running costs. Wish we could start from it. I'm sorry for messing in your thread.

Regards,
Alex.

[RHavar]

All site owners should know how stressful this job is.  I feel ours is a bit more stressful because we deal with app owners, players, and investors.

Hehe, yeah. You'll never be able to win that fight.  I remember once I put the commissions to 0%, and had both app owners and investors complaining to me at the same time they were getting the short end of the stick.  I guess you know when you've struck a good compromise is when both sides are equally unhappy  

[forzendiablo]

moneypot was good idea but now its running odd.

nobody check sites coming and such.

[3x1t]

moneypot was good idea but now its running odd.

nobody check sites coming and such.

Even if they check it when they are released (what they actually do I believe), the code can still be changed after that. And to watch a couple thousand apps for changes is a bit much to ask.

[gordonhill]

[JackpotRacer]

New App Rules:

No luring players to or from other apps

I thought I will report this because he didnt ask us if he can promote his site in our chat

btw I like his HE

Dec 31 16:55 SlimxaQ: 0.001% House Edge Bits Fast Betting site: http://youboost.me/
Dec 31 16:55 SlimxaQ: 0.001% House Edge Bits Fast Betting site: http://youboost.me/
Dec 31 16:55 SlimxaQ: 0.001% House Edge Bits Fast Betting site: http://youboost.me/