Betcoindice.tm Untrustworthy: Fakes volume, makes house bets on blockchain.

[ingrownpocket]

This is not unethical.

Like the man said if they pay their fees they can do what ever transactions they like.

Personally I think it is smart and the OP is a hater.

If a bitcoin site aspires to become the no.1 gaming site, it should lead by example.
Instead Massive Luck Investments are doing the worst possible thing you can do to bitcoin:
-spamming with lot of nonsense.
-faking bets, imagine employees at Caesars Palace in Vegas playing fake games to give the impression that there are many customers and lot of people winning. Would it be acceptable?

He's not faking the bet outcome (win/lose) AFAIK, so it won't look like a lot of people is winning, just a lot of people playing.

[1715162572]

1715162572

[1715162572]

1715162572

[1715162572]

1715162572

[001sonkit]

This is not unethical.

Like the man said if they pay their fees they can do what ever transactions they like.

Personally I think it is smart and the OP is a hater.

It is just you not using BitcoinQT, think in other people's shoes. TF has been a good watchout for potential harm to Bitcoin. And this is certainly one (not to mention ripple here, offtopic).

Not only dealing with this particular company with chain-spamming (and competitor site DDosing, incl SatoshiDice, Satoshi Circle, PrimeDice, inputs.io, peerbet and just-dice). The Bitcoin itself have to think of how to deal with these kind of thing in future when Bitcoin is more popular with more transation (and assholes who do things for their own sake without thinking about other's)

If this is ethical. These above should happen to you and you will know what is ethical. Having everyone hard drive filled with shit data and taking out others service is surely ethical.

EDIT: If TF is a hater, he would either have a stong conflict of interest (for example he owns a casino), have shown good history of pissing on others' post without solid claim. Only facts matter, and TF is surely opening a post with matter but not pointing fingers like a hater saying something is a crap.

[User705]

You guys keep bringing up all these OTHER issues.  If they are ddos that's bad but not the topic here.  @gollum you bring up vegas casinos.  They do plenty of free give aways that do exactly what you claim is unethical.  That is have people in there that aren't gambling to make the place look busy.  They pump in pure oxygen and use other visual and aeromatic stimulus to keep you excited.  They get you drunk in order to impare your judgement.  So what can be considered a physical invasion of my body is ethical to you but a site that spams the blockchain as a form of indirect advertising isn't?  @001sonkit coke puts plenty of chemicals into it's drinks to get you hooked but I don't see how blockchain spam is equivalent to delivering stuff to your front door which by the way 100s of companies do and it's called direct mail advertising.  With blockchain spam you don't need to do anything to clean it up.  In fact you can just ignore it.  Also I don't get it 1st you say you don't want lots of transactions then you say bitcoin will be more popular and there will be more transactions.    Blockchain spam is a whole other issue.  For example I think it's silly to try to adapt bitcoin to use for micro payments like your morning coffee when there are plenty of other methods that do a great job already but I'm not for centralized decision making about it since it defeats the whole purpose of bitcoin.  TF has taken upon himself a thankless and never-ending job of pointing out scams.  It's admirable but I've yet to see anyone offer a good rebuttal to my point that self caused blockchain spam as a form of advertising is somehow unethical.

[tkone]

blockchain spam is healthy it will help bring up the tx fees and make mining more profitable, the increase of difficulty making mining not so profitable which might hurt the miners, tx fees will help mininers recoup profits and thus helping bitcoin stay alive and secure, and decentralized,

betcoin is a great company, you cannot prove it was them ddossing, anyone can ddos, i really doubt they would ddoss there competetion, they are great at what they do, theres no reason for them to hurt there competition, theeres plenty of space for more companies to open up, as long as they are legit and fair and honest and trustworthy reliable polite and professional they will have customers,
and betcoin definetly fits those roles... so they will have customers theres no reason for them to hurt other businesses, they are fine without doing that...

elazar

[betcointm]

@TradeFortress:

Here's the "rude" email we sent to you three days ago:
#####
From: BetCoin™ <betcoin@betcoin.tm>
Subject: Couldn't PM you.
Date: September 22, 2013 12:28:43 PM GMT+01:00
To: admin@glados.cc

Dear TradeFortress,

Thank you for your insightful research and comments.  We tried to send you a PM, but you apparently blocked our account. Unfortunately most of our personnel are preoccupied with other important tasks at this moment, and we are not in the position to dedicate manpower to immediately answer your concerns. Should this situation change in the future - we will promptly inform you.

Kind regards,

BetCoin™
#####

As we mentioned earlier, our entire team is preoccupied with a series of meetings with senior Chinese Government officials, finalizing our newly-opened Supercomputer Center setup, and your concerns are not our top priority at this point in time. The issues that you brought up are not for the low-level technical and maintenance staff to address, but we will definitely look into this when when we have the time. In the meanwhile you can contact our support at support@betcoin.tm if you experience any difficulties using our websites, or have any questions regarding your own specific bets.

Best regards,

BetCoin™

[User705]

Now that's massive LOL and Whaa???

[001sonkit]

No comment on other accusations?

[SatoshiDICE_PR]

Relevant: 
http://www.digitaljournal.com/pr/1489274

More:
https://bitcointalk.org/index.php?topic=301581.0

 

[elbill]

I agree that copying content or clone games is unethical.

But the rest of the allegations (DDos, fake volume) are based on assumptions trying to discredit a website simply to protect your interests.

And I say this despite having lost more than 50 coins in betcoincircle (Although I lost more in satoshidice  )

[aksplace]

I agree that copying content or clone games is unethical.

But the rest of the allegations (DDos, fake volume) are based on assumptions trying to discredit a website simply to protect your interests.

And I say this despite having lost more than 50 coins in betcoincircle (Although I lost more in satoshidice  )

I think your on to something here and have defended betcoin since the beginning. I like the guy don't get me wrong even choose them for a small loan recently but I don't like what I see here either.

[bit777]

I agree that copying content or clone games is unethical.

But the rest of the allegations (DDos, fake volume) are based on assumptions trying to discredit a website simply to protect your interests.

And I say this despite having lost more than 50 coins in betcoincircle (Although I lost more in satoshidice  )

The fake volume is not an assumption, the evidence is there.

[aksplace]

I agree that copying content or clone games is unethical.

But the rest of the allegations (DDos, fake volume) are based on assumptions trying to discredit a website simply to protect your interests.

And I say this despite having lost more than 50 coins in betcoincircle (Although I lost more in satoshidice  )

The fake volume is not an assumption, the evidence is there.

fake volume appears to be fake volume I would agree but what harm is done?

[bittop100]

 Betcoindice.tm Untrustworthy,really?

[sublime5447]

This is a common business practice! my god people business want to appear busy! I have been given free play at the casino when the floor was empty, it looks bad when no one is playing. I have had club owners ask me and my buddies to come by for free drinks just so it looks like it is a cool place.

I see no problem at all. I understand the QT issue but if anything ever becomes of bitcoin the blockchain is gonna get long deal with it.

[gollum]

This is a common business practice! my god people business want to appear busy! I have been given free play at the casino when the floor was empty, it looks bad when no one is playing. I have had club owners ask me and my buddies to come by for free drinks just so it looks like it is a cool place.

I see no problem at all. I understand the QT issue but if anything ever becomes of bitcoin the blockchain is gonna get long deal with it.

sure this practice might be used to some degree, but the issue here is the scale of it:
about 20-30% of all bitcoin transactions are fake bets by betcoindice.tm

[Boelens]

Just saw something odd on blockchain.info , might have to do with it. Was just checking it out when suddenly, "recent transactions" had a MASSIVE spam of 0.28-0.48 BTC sends to betcoindice (I couldn't read the amount in time)

[mises]

What is the purpose of doing such? I would assume to "Appear busy" ? I guess I don't understand as the founder would surely not waste his time making .03 bets all day. Just for the record they do promote in a lot of locations.

I suggest reading the OP and looking up the addresses I mentioned before responding. The founder of course isn't manually betting, but rather it's an automated script to get on the frontpage of blockchain.info and create the impression that it is legitimate from it's "popularity".

That's kind of clever!

..but easy to detect I guess.

[dooglus]

The whole "provably fair" only proves % going in and out it doesn't mean their own plants aren't the only ones winning.

I don't think you understand provable fairness.  It doesn't tell you anything about the overall house performance.  All it tells you is that your own bet was fairly processed.  That's pretty much the opposite of what you claim.

Look at bitzino.com.  I have no idea how much they've taken in bets, or how much they've paid out.  They don't (to my knowledge) publish that information.  But when I play there, whether I win or lose, I am sure that the bet was handled fairly due to the way that all their games are provably fair.

[Zaih]

@TradeFortress:

Here's the "rude" email we sent to you three days ago:
#####
From: BetCoin™ <betcoin@betcoin.tm>
Subject: Couldn't PM you.
Date: September 22, 2013 12:28:43 PM GMT+01:00
To: admin@glados.cc

Dear TradeFortress,

Thank you for your insightful research and comments.  We tried to send you a PM, but you apparently blocked our account. Unfortunately most of our personnel are preoccupied with other important tasks at this moment, and we are not in the position to dedicate manpower to immediately answer your concerns. Should this situation change in the future - we will promptly inform you.

Kind regards,

BetCoin™
#####

As we mentioned earlier, our entire team is preoccupied with a series of meetings with senior Chinese Government officials, finalizing our newly-opened Supercomputer Center setup, and your concerns are not our top priority at this point in time. The issues that you brought up are not for the low-level technical and maintenance staff to address, but we will definitely look into this when when we have the time. In the meanwhile you can contact our support at support@betcoin.tm if you experience any difficulties using our websites, or have any questions regarding your own specific bets.

Best regards,

BetCoin™

Ahahahahahaha have a listen

[Hfleer]

The whole "provably fair" only proves % going in and out it doesn't mean their own plants aren't the only ones winning.

I don't think you understand provable fairness.  It doesn't tell you anything about the overall house performance.  All it tells you is that your own bet was fairly processed.  That's pretty much the opposite of what you claim.

Look at bitzino.com.  I have no idea how much they've taken in bets, or how much they've paid out.  They don't (to my knowledge) publish that information.  But when I play there, whether I win or lose, I am sure that the bet was handled fairly due to the way that all their games are provably fair.

You must really love bitzino...   At any rate, yea this one's not provably fair as I posted in the other thread, and would stay away.