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Author Topic: [SCAM SCAM]MONEYPOT[SCAM SCAM] officially announced not to buy RBIES as promised  (Read 4670 times)
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January 15, 2018, 06:57:09 PM
 #141

I had a really long write-up prepared, but deleted it.  This stuff has stressed me out quite enough already.

Going to share my quick thoughts and probably leave it be after this:

First, I am more than confident that I could explain the story to a neutral third party and have them see my side.  I am not claiming that it was the perfect way, but that it was one of the best ways to handle it given the circumstances.  I'm not looking to 'win' an argument for the sake of my ego; I'd rather put my effort into working and making the things I say come true rather than be distracted.

Second, giving an account to someone so that he can work towards paying debt off on Christmas does not equal distrust.  I didn't work with him afterwards, even though I believe if I had, that the money would go towards paying back his debt to others as well.  I can find examples of people that have posted in this thread that are well trusted that have done the same.  

Third, I'm not a fan of people actively trying to break privacy to pursue a witch hunt.  I feel the line has already been breached and don't know where it will end if things like this is continually encouraged and sought out.

I'd also like to throw some notes out:

- Moneypot and/or I did not profit from Rubies.  Moneypot and/or I did not create Rubies.  Moneypot and/or I did not have any pre-mined or originally distributed coins.
- I am NOTHING like Josh Garza.  Josh actively tried to scam and profited from people with malicious intent.  People should have something against him and it's alarming that one does not.
- We actively told people not to buy based on our actions and highly discouraged any form of trading based on our interactions in private conversations.  
- The promise was kept for about a year and we aim to bring it back if possible (most likely with a few modifications to prevent abuse/exploits).


I do believe that overall for the sake of the community and the coin, that it was the proper move to make and one that made the most sense.

I do understand that some people lost out because of it if they decided to sell already.  

I also believe that many more people benefited from our involvement than did not and that those who did not will still be able to if they haven't exited already.  

To end this, I am not perfect, but I can wholeheartedly say that I am doing everything I can to do right by the people.  I know these are just words until my actions fill them, so I'll be working hard on that.  I hope we will have an update for everyone soon.

Take care.

this is my answer and I only need to copy/paste your sentence and only needed to change one word

I know these are just words until your actions fill them

I agree with you Jackpotracer.  I am trying to work as hard and contribute as much as I can.  I think these pointless arguments take away from that and getting away from them will help me work even harder.  I'm glad that we are seeing eye to eye for a change.

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January 15, 2018, 07:05:51 PM
 #142

First, I am more than confident that I could explain the story to a neutral third party and have them see my side.

I'd encourage you to try. I have not as of yet seen coherent explanation that would justify your actions.

Quote
- Moneypot and/or I did not profit from Rubies.  Moneypot and/or I did not create Rubies.  Moneypot and/or I did not have any pre-mined or originally distributed coins.

This isn't remotely true. Rubies were originally created by "betterbets". Try answer these questions:

a) What % of "pre-mined" rubies did betterbets start with
b) What % of "betterbets" does or did MP own at any time
c) Did MoneyPot make a commission on bets placed on BetterBets
d) Did BetterBets give out rubies for people betting in a way that would generate MoneyPot revenue?

If you answer these questions honestly, it is pretty obvious that you/MoneyPot directly profited by the price of rubies being higher.

Quote
- The promise was kept for about a year and we aim to bring it back if possible (most likely with a few modifications to prevent abuse/exploits).

Again, this is an extremely dishonest mischaracterization. The scheme wasn't abused, it was simply used. You promised a price floor, the price traded below the price floor and people sold it to you. That's not abuse, it's quite literally what the price floor buy back promise was established for.

Also I don't think you get much credit for honoring the promise when the price was trading above the price floor  Roll Eyes

Quote
I do believe that overall for the sake of the community and the coin, that it was the proper move to make and one that made the most sense.

I do understand that some people lost out because of it if they decided to sell already.

Dude. There's no future to the coin, it's literally a scam coin. You might have been able to fool people once, but it's now got such a tainted history that no one sane will touch it, and you know it.

Quote
I also believe that many more people benefited from our involvement than did not and that those who did not will still be able to if they haven't exited already.

A nice platitude, but obviously bullshit. If you truly believed it you would be buying it  and honoring the price floor you promised.
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January 15, 2018, 07:16:10 PM
 #143

I did not give the PMs to anyone because no one wanted to be judge  over DogeDigital. what is your interest to see those?

My interest is knowledge.

Second, giving an account to someone so that he can work towards paying debt off on Christmas does not equal distrust.  I didn't work with him afterwards, even though I believe if I had, that the money would go towards paying back his debt to others as well.  I can find examples of people that have posted in this thread that are well trusted that have done the same.  

That's funny... I haven't seen this scammer pay anyone back. Seems like a really good-hearted scammer though, and you are such a good-hearted guy to give him a clean account at Christmas time - I could care less what time of year it was, and I love Christmas.

By the way, literally the THIRD (maybe even the first) post your scammer buddy did with the new account you gave him, as I've stated to you in the past, was to apply for a loan with the new account:
https://bitcointalk.org/index.php?topic=1311386.msg13421158#msg13421158

Yep, I'm sure he had all good intentions there on working to pay off his debts. Luckily, no loans were accepted and the account was tagged later that month.

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January 15, 2018, 07:17:52 PM
 #144

First, I am more than confident that I could explain the story to a neutral third party and have them see my side.

I'd encourage you to try. I have not as of yet seen coherent explanation that would justify your actions.

Quote
- Moneypot and/or I did not profit from Rubies.  Moneypot and/or I did not create Rubies.  Moneypot and/or I did not have any pre-mined or originally distributed coins.

This isn't remotely true. Rubies were originally created by "betterbets". Try answer these questions:

a) What % of "pre-mined" rubies did betterbets start with
b) What % of "betterbets" does or did MP own at any time
c) Did MoneyPot make a commission on bets placed on BetterBets
d) Did BetterBets give out rubies for people betting in a way that would generate MoneyPot revenue?

If you answer these questions honestly, it is pretty obvious that you/MoneyPot directly profited by the price of rubies being higher.

Quote
- The promise was kept for about a year and we aim to bring it back if possible (most likely with a few modifications to prevent abuse/exploits).

Again, this is an extremely dishonest mischaracterization. The scheme wasn't abused, it was simply used. You promised a price floor, the price traded below the price floor and people sold it to you. That's not abuse, it's quite literally what the price floor buy back promise was established for.

Also I don't think you get much credit for honoring the promise when the price was trading above the price floor  Roll Eyes

Quote
I do believe that overall for the sake of the community and the coin, that it was the proper move to make and one that made the most sense.

I do understand that some people lost out because of it if they decided to sell already.

Dude. There's no future to the coin, it's literally a scam coin. You might have been able to fool people once, but it's now got such a tainted history that no one sane will touch it, and you know it.

Quote
I also believe that many more people benefited from our involvement than did not and that those who did not will still be able to if they haven't exited already.

A nice platitude, but obviously bullshit. If you truly believed it you would be buying it  and honoring the price floor you promised.

Quoted just in case ....................

yea those Betterbets and RBIES questions are really spot on and I am very eager to see the answers. but sadly DD cant say the truth he is just not able to be transparent and honest

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January 15, 2018, 07:28:13 PM
 #145

You have your opinion, which you're free to, and I have mine.  I just want to share a few last points and I'm done.  I'm not going into great detail and I'm not going to stoop to bickering and insults.

1 - Moneypot did not profit from Rubies.  I wish that it was never created in the first place.  It shouldn't have happened in the first place.
2 - The price was quickly declining and people blamed Moneypot even though we didn't have any direct involvement at the time.  Again, please refer to #1.
3 - Rubies went from having little to zero value to having a future again and it still does.  It wasn't a floor placed at the bottom, it was a floor that raised the bottom higher.  We could have profited from this move, yes, but we didn't dump the Rubies or interfere with the markets to do so.
4 - Rubies still has a future and still has value.  Personally speaking (not encouragement to trade/invest/sell), I would definitely buy more Rubies if it didn't interfere.  

It makes no sense for Moneypot to collect the entire supply of Rubies.  Coins need to be spread out a bit for it to have an actual use case which will be introduced soon in time.  

The system can and should still work and that's what I and Moneypot are working towards.  If things continued the way it was without the use case for Rubies, I don't believe it would have.  

I know you don't agree with me, but that's what I really believe and that's what I intend to get done.  

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January 15, 2018, 07:34:15 PM
 #146

1 - Moneypot did not profit from Rubies.

Would you be so kind as to answer the questions I asked? Namely:

a) What % of "pre-mined" rubies did betterbets start with
b) What % of "betterbets" does or did MP own at any time
c) Did MoneyPot make a commission on bets placed on BetterBets
d) Did BetterBets give out rubies for people betting in a way that would generate MoneyPot revenue?
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January 15, 2018, 07:42:37 PM
 #147

1 - Moneypot did not profit from Rubies.

Would you be so kind as to answer the questions I asked? Namely:

a) What % of "pre-mined" rubies did betterbets start with
b) What % of "betterbets" does or did MP own at any time
c) Did MoneyPot make a commission on bets placed on BetterBets
d) Did BetterBets give out rubies for people betting in a way that would generate MoneyPot revenue?

a) I do not know the accurate details of this.  Rubies were given to investors of the stakeholder program, sites that adopted rubies (not us), and some were used for the bankroll.
b) Moneypot did not own any of BetterBets when Rubies was introduced.  We were actually surprised that it happened even though it was revealed to be in the works for some time.  We weren't happy about it.
c) Moneypot made commission on Bitcoin bets placed on BetterBets.  It made 0 commission from Rubies bets.  Many BetterBets players bet Rubies instead of Bitcoin, which adds to my #1 point from earlier.
d) I believe BetterBets gave out Rubies to profit as a coin and sell stakes in their site.  It wasn't designed to increase Bitcoin betting on Moneypot.  

edit; spelling
Also, thanks for being polite this time.

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January 15, 2018, 07:45:53 PM
 #148

1 - Moneypot did not profit from Rubies.

Would you be so kind as to answer the questions I asked? Namely:

a) What % of "pre-mined" rubies did betterbets start with
b) What % of "betterbets" does or did MP own at any time
c) Did MoneyPot make a commission on bets placed on BetterBets
d) Did BetterBets give out rubies for people betting in a way that would generate MoneyPot revenue?

a) I do not know the accurate details of this.  Rubies were given to investors of the stakeholder program, sites that adopted rubies (not us), and some were used for the bankroll.
b) Moneypot did not own any of BetterBets when Rubies was introduced.  We were actually surprised that it happened even though it was revealed to be in the works for some time.  We weren't happy about it.
c) Moneypot made commission on Bitcoin bets placed on BetterBets.  It made 0 commission from Rubies bets.  Many BetterBets players bet Rubies instead of Bitcoin, which adds to my #1 point from earlier.
d) I believe BetterBets gave out Rubies to profit as a coin and sell stakes in their site.  It wasn't designed to increase Bitcoin betting on Moneypot.  

question for b) when did MP own any of Betterbets ?

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January 15, 2018, 07:48:27 PM
 #149

b) Moneypot did not own any of BetterBets when Rubies was introduced.  We were actually surprised that it happened even though it was revealed to be in the works for some time.  We weren't happy about it.

What about at the time you promised the price floor? What about later? What was the highest stake in BetterBets you owned? And likewise how much did BetterBets make from selling premined rubies?

Quote
c) Moneypot made commission on Bitcoin bets placed on BetterBets.  It made 0 commission from Rubies bets.  Many BetterBets players bet Rubies instead of Bitcoin, which adds to my #1 point from earlier.
d) I believe BetterBets gave out Rubies to profit as a coin and sell stakes in their site.  It wasn't designed to increase Bitcoin betting on Moneypot.  

BetterBets gave out rubies when people bet bitcoin, called "bet mining". MoneyPot made a commission when people bet bitcoin. The price of rubies being higher made the benefits for betting on BetterBets better, thus attracted more action and commissions for MoneyPot..
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January 15, 2018, 07:54:49 PM
 #150

b) Moneypot did not own any of BetterBets when Rubies was introduced.  We were actually surprised that it happened even though it was revealed to be in the works for some time.  We weren't happy about it.

What about at the time you promised the price floor? What about later? What was the highest stake in BetterBets you owned? And likewise how much did BetterBets make from selling premined rubies?
I am asking same

Quote
c) Moneypot made commission on Bitcoin bets placed on BetterBets.  It made 0 commission from Rubies bets.  Many BetterBets players bet Rubies instead of Bitcoin, which adds to my #1 point from earlier.
d) I believe BetterBets gave out Rubies to profit as a coin and sell stakes in their site.  It wasn't designed to increase Bitcoin betting on Moneypot.  



BetterBets gave out rubies when people bet bitcoin, called "bet mining". MoneyPot made a commission when people bet bitcoin. The price of rubies being higher made the benefits for betting on BetterBets better, thus attracted more action and commissions for MoneyPot..

does make a lot of sense

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January 15, 2018, 07:58:43 PM
 #151

b) Moneypot did not own any of BetterBets when Rubies was introduced.  We were actually surprised that it happened even though it was revealed to be in the works for some time.  We weren't happy about it.

What about at the time you promised the price floor? What about later? What was the highest stake in BetterBets you owned? And likewise how much did BetterBets make from selling premined rubies?

Quote
c) Moneypot made commission on Bitcoin bets placed on BetterBets.  It made 0 commission from Rubies bets.  Many BetterBets players bet Rubies instead of Bitcoin, which adds to my #1 point from earlier.
d) I believe BetterBets gave out Rubies to profit as a coin and sell stakes in their site.  It wasn't designed to increase Bitcoin betting on Moneypot.  

BetterBets gave out rubies when people bet bitcoin, called "bet mining". MoneyPot made a commission when people bet bitcoin. The price of rubies being higher made the benefits for betting on BetterBets better, thus attracted more action and commissions for MoneyPot..

Perhaps, we are just crossing our wires.  

While, there were some spots where it created income for Moneypot, overall it provided a very negative outcome for Moneypot.  Again, I wish it was never created in the first place and that sites weren't able to use side currencies.

We weren't very happy about the number one site in Moneypot at the time providing a different route of betting outside of Moneypot.  There were some short term benefits, but it was heavily over weighed by long term damages.

It got to the point where we felt it necessary to try and help the Rubies community, which was where the idea of the floor came in.  Yes, it was my idea and I lacked some foresight on some particular issues involved with it.   But it was a move that I wish we didn't do or need to do in the first place and it was designed to help out Rubies holders and prevent backlash towards Moneypot, even though it wasn't our coin.




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January 15, 2018, 08:03:49 PM
 #152

b) Moneypot did not own any of BetterBets when Rubies was introduced.  We were actually surprised that it happened even though it was revealed to be in the works for some time.  We weren't happy about it.

What about at the time you promised the price floor? What about later? What was the highest stake in BetterBets you owned? And likewise how much did BetterBets make from selling premined rubies?

Quote
c) Moneypot made commission on Bitcoin bets placed on BetterBets.  It made 0 commission from Rubies bets.  Many BetterBets players bet Rubies instead of Bitcoin, which adds to my #1 point from earlier.
d) I believe BetterBets gave out Rubies to profit as a coin and sell stakes in their site.  It wasn't designed to increase Bitcoin betting on Moneypot.  

BetterBets gave out rubies when people bet bitcoin, called "bet mining". MoneyPot made a commission when people bet bitcoin. The price of rubies being higher made the benefits for betting on BetterBets better, thus attracted more action and commissions for MoneyPot..

Perhaps, we are just crossing our wires.  

While, there were some spots where it created income for Moneypot, overall it provided a very negative outcome for Moneypot.  Again, I wish it was never created in the first place and that sites weren't able to use side currencies.

We weren't very happy about the number one site in Moneypot at the time providing a different route of betting outside of Moneypot.  There were some short term benefits, but it was heavily over weighed by long term damages.

It got to the point where we felt it necessary to try and help the Rubies community, which was where the idea of the floor came in.  Yes, it was my idea and I lacked some foresight on some particular issues involved with it.   But it was a move that I wish we didn't do or need to do in the first place and it was designed to help out Rubies holders and prevent backlash towards Moneypot, even though it wasn't our coin.





when did  you own Betterbets? how much of it?

you dont answer the questions as always

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January 15, 2018, 08:07:25 PM
 #153

b) Moneypot did not own any of BetterBets when Rubies was introduced.  We were actually surprised that it happened even though it was revealed to be in the works for some time.  We weren't happy about it.

What about at the time you promised the price floor? What about later? What was the highest stake in BetterBets you owned? And likewise how much did BetterBets make from selling premined rubies?

Quote
c) Moneypot made commission on Bitcoin bets placed on BetterBets.  It made 0 commission from Rubies bets.  Many BetterBets players bet Rubies instead of Bitcoin, which adds to my #1 point from earlier.
d) I believe BetterBets gave out Rubies to profit as a coin and sell stakes in their site.  It wasn't designed to increase Bitcoin betting on Moneypot.  

BetterBets gave out rubies when people bet bitcoin, called "bet mining". MoneyPot made a commission when people bet bitcoin. The price of rubies being higher made the benefits for betting on BetterBets better, thus attracted more action and commissions for MoneyPot..

Perhaps, we are just crossing our wires.  

While, there were some spots where it created income for Moneypot, overall it provided a very negative outcome for Moneypot.  Again, I wish it was never created in the first place and that sites weren't able to use side currencies.

We weren't very happy about the number one site in Moneypot at the time providing a different route of betting outside of Moneypot.  There were some short term benefits, but it was heavily over weighed by long term damages.

It got to the point where we felt it necessary to try and help the Rubies community, which was where the idea of the floor came in.  Yes, it was my idea and I lacked some foresight on some particular issues involved with it.   But it was a move that I wish we didn't do or need to do in the first place and it was designed to help out Rubies holders and prevent backlash towards Moneypot, even though it wasn't our coin.





when did  you own Betterbets? how much of it?

you dont answer the questions as always

I answer as much as I can.  I'd be much more willing to answer all questions if you didn't try to find selective spots to attack in them and likewise actually answered questions that I had for you.  

Moneypot does own a % of BetterBets currently.  I am not able to disclose full details about it, but I will say we never wanted to own a %.  We didn't want BetterBets to sell any part of their site.  The MP team that bought from Ryan were told that it was very unlikely that BetterBets was going to sell.  I highly doubt (I'm not certain because I wasn't a part of it) that the MP team would have bought it if it knew that BetterBets was going to sell any part of their site or create side coins to bet with.

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January 15, 2018, 08:14:11 PM
 #154

b) Moneypot did not own any of BetterBets when Rubies was introduced.  We were actually surprised that it happened even though it was revealed to be in the works for some time.  We weren't happy about it.

What about at the time you promised the price floor? What about later? What was the highest stake in BetterBets you owned? And likewise how much did BetterBets make from selling premined rubies?

Quote
c) Moneypot made commission on Bitcoin bets placed on BetterBets.  It made 0 commission from Rubies bets.  Many BetterBets players bet Rubies instead of Bitcoin, which adds to my #1 point from earlier.
d) I believe BetterBets gave out Rubies to profit as a coin and sell stakes in their site.  It wasn't designed to increase Bitcoin betting on Moneypot.  

BetterBets gave out rubies when people bet bitcoin, called "bet mining". MoneyPot made a commission when people bet bitcoin. The price of rubies being higher made the benefits for betting on BetterBets better, thus attracted more action and commissions for MoneyPot..

Perhaps, we are just crossing our wires.  

While, there were some spots where it created income for Moneypot, overall it provided a very negative outcome for Moneypot.  Again, I wish it was never created in the first place and that sites weren't able to use side currencies.

We weren't very happy about the number one site in Moneypot at the time providing a different route of betting outside of Moneypot.  There were some short term benefits, but it was heavily over weighed by long term damages.

It got to the point where we felt it necessary to try and help the Rubies community, which was where the idea of the floor came in.  Yes, it was my idea and I lacked some foresight on some particular issues involved with it.   But it was a move that I wish we didn't do or need to do in the first place and it was designed to help out Rubies holders and prevent backlash towards Moneypot, even though it wasn't our coin.





when did  you own Betterbets? how much of it?

you dont answer the questions as always

I answer as much as I can.  I'd be much more willing to answer all questions if you didn't try to find selective spots to attack in them and likewise actually answered questions that I had for you.  

Moneypot does own a % of BetterBets currently.  I am not able to disclose full details about it, but I will say we never wanted to own a %.  We didn't want BetterBets to sell any part of their site.  The MP team that bought from Ryan were told that it was very unlikely that BetterBets was going to sell.  I highly doubt (I'm not certain because I wasn't a part of it) that the MP team would have bought it if it knew that BetterBets was going to sell any part of their site or create side coins to bet with.

MP owns % BetterBets and this tells us that MP profited from RBIES

your behavior told me long ago that you own BB. I am sure it was a business decision but again you guys missed to be transparent

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January 15, 2018, 08:26:12 PM
 #155

b) Moneypot did not own any of BetterBets when Rubies was introduced.  We were actually surprised that it happened even though it was revealed to be in the works for some time.  We weren't happy about it.

What about at the time you promised the price floor? What about later? What was the highest stake in BetterBets you owned? And likewise how much did BetterBets make from selling premined rubies?

Quote
c) Moneypot made commission on Bitcoin bets placed on BetterBets.  It made 0 commission from Rubies bets.  Many BetterBets players bet Rubies instead of Bitcoin, which adds to my #1 point from earlier.
d) I believe BetterBets gave out Rubies to profit as a coin and sell stakes in their site.  It wasn't designed to increase Bitcoin betting on Moneypot.  

BetterBets gave out rubies when people bet bitcoin, called "bet mining". MoneyPot made a commission when people bet bitcoin. The price of rubies being higher made the benefits for betting on BetterBets better, thus attracted more action and commissions for MoneyPot..

Perhaps, we are just crossing our wires.  

While, there were some spots where it created income for Moneypot, overall it provided a very negative outcome for Moneypot.  Again, I wish it was never created in the first place and that sites weren't able to use side currencies.

We weren't very happy about the number one site in Moneypot at the time providing a different route of betting outside of Moneypot.  There were some short term benefits, but it was heavily over weighed by long term damages.

It got to the point where we felt it necessary to try and help the Rubies community, which was where the idea of the floor came in.  Yes, it was my idea and I lacked some foresight on some particular issues involved with it.   But it was a move that I wish we didn't do or need to do in the first place and it was designed to help out Rubies holders and prevent backlash towards Moneypot, even though it wasn't our coin.





when did  you own Betterbets? how much of it?

you dont answer the questions as always

I answer as much as I can.  I'd be much more willing to answer all questions if you didn't try to find selective spots to attack in them and likewise actually answered questions that I had for you.  

Moneypot does own a % of BetterBets currently.  I am not able to disclose full details about it, but I will say we never wanted to own a %.  We didn't want BetterBets to sell any part of their site.  The MP team that bought from Ryan were told that it was very unlikely that BetterBets was going to sell.  I highly doubt (I'm not certain because I wasn't a part of it) that the MP team would have bought it if it knew that BetterBets was going to sell any part of their site or create side coins to bet with.

MP owns % BetterBets and this tells us that MP profited from RBIES

your behavior told me long ago that you own BB. I am sure it was a business decision but again you guys missed to be transparent

Moneypot never owned any of the Rubies bankroll / action.  It only owned a % of Bitcoin betting.

Rubies provided Moneypot a NET LOSS. It did not profit overall from Rubies.  It did make some income indirectly through its introduction (although I still believe it was offset more by players switching from Bitcoin to Rubies) but it didn't come close to the damages long term it caused.

Rubies, now however, can be transferred to R2B2 @ 1:1, which I do believe has a future once the system of betting, a house bankroll and community bankroll can be featured (which is planned as soon as we can).


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January 15, 2018, 09:11:48 PM
 #156

I'm not knowledgeable about the inner workings of Moneypot and BetterBets so I can't speak to that relationship, but regarding this:

d) I believe BetterBets gave out Rubies to profit as a coin and sell stakes in their site.  It wasn't designed to increase Bitcoin betting on Moneypot.  

Before Rubies, BB had a tiered betback system (I think it was weekly, it may have been monthly).  As soon as Rubies were released, they nixed the betback system and replaced it with "bet mining".  The goal was pretty obvious...Rubies were going to be the new betback system and the goal of getting a % of your bet back is, of course, to increase betting.

Also, if MP owned any % of BB at any point where there was Rubies betting on BB, MP did in fact profit off of an inflated Rubies price.  Because MP would be profiting Rubies (off of Rubies betting).  Again, I have no idea what the timeline was of when ownership was sold, so this may be a moot point.

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January 15, 2018, 09:14:15 PM
 #157

I'm not knowledgeable about the inner workings of Moneypot and BetterBets so I can't speak to that relationship, but regarding this:

d) I believe BetterBets gave out Rubies to profit as a coin and sell stakes in their site.  It wasn't designed to increase Bitcoin betting on Moneypot.  

Before Rubies, BB had a tiered betback system (I think it was weekly, it may have been monthly).  As soon as Rubies were released, they nixed the betback system and replaced it with "bet mining".  The goal was pretty obvious...Rubies were going to be the new betback system and the goal of getting a % of your bet back is, of course, to increase betting.

Also, if MP owned any % of BB at any point where there was Rubies betting on BB, MP did in fact profit off of an inflated Rubies price.  Because MP would be profiting Rubies (off of Rubies betting).  Again, I have no idea what the timeline was of when ownership was sold, so this may be a moot point.

Moneypot never profited off of Rubies betting.  Moneypot never owned any of the Rubies income and had no part in its house bankroll at any time.

We disliked Rubies betting altogether because they'd be betting on Moneypot where Moneypot receives no commission and no part of the betting action. 

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January 15, 2018, 09:15:53 PM
 #158

I'm not knowledgeable about the inner workings of Moneypot and BetterBets so I can't speak to that relationship, but regarding this:

d) I believe BetterBets gave out Rubies to profit as a coin and sell stakes in their site.  It wasn't designed to increase Bitcoin betting on Moneypot.  

Before Rubies, BB had a tiered betback system (I think it was weekly, it may have been monthly).  As soon as Rubies were released, they nixed the betback system and replaced it with "bet mining".  The goal was pretty obvious...Rubies were going to be the new betback system and the goal of getting a % of your bet back is, of course, to increase betting.

Also, if MP owned any % of BB at any point where there was Rubies betting on BB, MP did in fact profit off of an inflated Rubies price.  Because MP would be profiting Rubies (off of Rubies betting).  Again, I have no idea what the timeline was of when ownership was sold, so this may be a moot point.

Moneypot never profited off of Rubies betting.  Moneypot never owned any of the Rubies income and had no part in its house bankroll at any time.

We disliked Rubies betting altogether because they'd be betting on Moneypot where Moneypot receives no commission and no part of the betting action. 

Just so I can understand things...you are saying that MP bought a % of BB but that % you bought was only for the bitcoin action on the site and not the rubies action on the site?

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January 15, 2018, 09:21:18 PM
 #159

I'm not knowledgeable about the inner workings of Moneypot and BetterBets so I can't speak to that relationship, but regarding this:

d) I believe BetterBets gave out Rubies to profit as a coin and sell stakes in their site.  It wasn't designed to increase Bitcoin betting on Moneypot.  

Before Rubies, BB had a tiered betback system (I think it was weekly, it may have been monthly).  As soon as Rubies were released, they nixed the betback system and replaced it with "bet mining".  The goal was pretty obvious...Rubies were going to be the new betback system and the goal of getting a % of your bet back is, of course, to increase betting.

Also, if MP owned any % of BB at any point where there was Rubies betting on BB, MP did in fact profit off of an inflated Rubies price.  Because MP would be profiting Rubies (off of Rubies betting).  Again, I have no idea what the timeline was of when ownership was sold, so this may be a moot point.

Moneypot never profited off of Rubies betting.  Moneypot never owned any of the Rubies income and had no part in its house bankroll at any time.

We disliked Rubies betting altogether because they'd be betting on Moneypot where Moneypot receives no commission and no part of the betting action. 

Just so I can understand things...you are saying that MP bought a % of BB but that % you bought was only for the bitcoin action on the site and not the rubies action on the site?

Yes. 

Btw, Thank you for your information above.  It helps fill in the picture a bit better.

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January 15, 2018, 09:45:35 PM
 #160

I'm sure I'm misunderstanding something or missing some details, but here's the narrative that I'm hearing:

You buy a successful gambling site

The site starts losing money

You, for some unknown reason, decide to promise to reimburse the investors for some part of the loss

You, for some unknown reason, allow a site that's dependant on your bankroll to develop an altcoin

You, for some unknown reason, allow that site to take altcoin bets that you don't profit from

You, for some unknown reason, decide to support the altcoin that you have no stake in by promising a buy floor of 1k sat

You, for some unknown reason, destroy all of the coins that you buy from users

You purchase a % of a site that is on your network to prevent them from selling to an outside investor (which...why would you care who owns the site?)

You, for some unknown reason, decide to only have equity in the bitcoin aspect of the site (which you already have equity in by the fact that you own the bankroll that they use) and not the altcoin aspect of the site

You decide to pull your support buy floor for the altcoin


It just seems like a lot of pretty poor decisions.  I'm sure there's a lot going on that I'm unaware of, but you should understand that the above is the public perception of events.

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