bustabit.com -- The Social Gambling Game

[csmcanarney]

Yeah, I'm pretty sure Ryan is still all for adding investing. Not sure when its coming out though, he seems to be preoccupied with Vault (his other project)

Investments are actually one of the core features of Vault. From what I understand MoneyPot will migrate to Vault for bankroll and user balance management once it is stable enough. Other sites gambling sites will also be able to use Vault in the same way.

Just like MoneyPot, Vault is open source, so you can inspect the code and follow the progress on its GitHub page, if you're curious.

[iqbal14st]

I've tried to deposit again ..
Hopefully this time I got lucky

[Mist]

Yeah, I'm pretty sure Ryan is still all for adding investing. Not sure when its coming out though, he seems to be preoccupied with Vault (his other project)

Investments are actually one of the core features of Vault. From what I understand MoneyPot will migrate to Vault for bankroll and user balance management once it is stable enough. Other sites gambling sites will also be able to use Vault in the same way.

Just like MoneyPot, Vault is open source, so you can inspect the code and follow the progress on its GitHub page, if you're curious.

Yeah, that clears some things up for me, thank you csm for educating me

[ninjaboon]

I've tried to deposit again ..
Hopefully this time I got lucky

good luck, my rank is 152 today.

[Kprawn]

Yeah, I'm pretty sure Ryan is still all for adding investing. Not sure when its coming out though, he seems to be preoccupied with Vault (his other project)

Investments are actually one of the core features of Vault. From what I understand MoneyPot will migrate to Vault for bankroll and user balance management once it is stable enough. Other sites gambling sites will also be able to use Vault in the same way.

Just like MoneyPot, Vault is open source, so you can inspect the code and follow the progress on its GitHub page, if you're curious.

Github is not saying a lot, just that it's kind of a new wallet. What will be the main purpose of the "Vault"? How secure are the money currently stored in the MoneyPot game, or is this one of the issues they are trying to solve with "Vault"?

[Coef]

You are right... BUT if you get that continuosly at the MAX bet. {Think it's 100 000 bits} might be even higher now, you will show a good profit.

Friendly reminder: The max bet has been increased to 1 btc a few days ago.

Max bet has been increased to allowing 1 BTC bets, and max win increased to 3% of the bankroll (which is currently 3.12 BTC).

Good luck everyone!

A player didn't notice the change, and Ryan refunded his loss generously.

Ryan, did you silently increase the max bet size to 1 BTC? That's pretty lame. Somebody (https://www.moneypot.com/user/sinefreq?p=467) lost at least 1 BTC a few hours ago because he assumed that his bot would stop at < 100K bits\0.1 BTC when shit hit the fan, so he didn't add stop loss to his bot's code.

Post the fucking notice on your website when you make a major change to the mechanics of the game. Jeez.

EDIT: Fixed the link.

It was not a silent update, it had been announced multiple times on the chat; however, your premise is right. I should have done a better job making sure no one got burnt by this.

So here's what I'll do. Firstly, I'll refund the losing bets that were than or 0.1 BTC which are:

108063, 144804, 194038 and 260011 -- for a total of 0.706916 BTC

Secondly, I'll add a max-bet field to the strategy editor so people stop implicitly relying on the site limits:

https://github.com/moneypot/webserver/issues/130


And thirdly, in the future any update of the sort, I'll make sure to version it along with a notice so people are aware of what changed, rather than needing to check the chat.

[Havelivi]

moneypot is working awesome for me, i got little profit from it.

[gugel8989]

i just played on moenypot, it is fair and like fun,
i hit 25X 3 time in 10 row, it is much profitable for me

wow dude its awesome.
me never got that, cos to pussy to face it 

[ninjaboon]

a big one came at 349.13x

[Arnab biswas]

is there any good stratagy

[blockage]

Yeah, I'm pretty sure Ryan is still all for adding investing. Not sure when its coming out though, he seems to be preoccupied with Vault (his other project)

Investments are actually one of the core features of Vault. From what I understand MoneyPot will migrate to Vault for bankroll and user balance management once it is stable enough. Other sites gambling sites will also be able to use Vault in the same way.

Just like MoneyPot, Vault is open source, so you can inspect the code and follow the progress on its GitHub page, if you're curious.

Github is not saying a lot, just that it's kind of a new wallet. What will be the main purpose of the "Vault"? How secure are the money currently stored in the MoneyPot game, or is this one of the issues they are trying to solve with "Vault"?

Main purpose of vault is to be a gambling wallet and investment wallet for multiple games including MoneyPot. I believe Ryan is trying to expand. Security-wise there's nothing which is improved in vault I believe.

The current situation on MoneyPot is the following AFAIK: Most of the funds are held in cold storage. I believe Ryan is using a trezor for cold storage as he mentioned using one multiple times in the chat. Cold storage addresses are not public and are not reused.
User deposit addresses are BIP32 addresses derived using the user id and are part of the hot wallet. Once the hot wallet has too much coins, some are spilled over to the cold storage. Idk exactly at which amount though.

[unamis76]

Yeah, I'm pretty sure Ryan is still all for adding investing. Not sure when its coming out though, he seems to be preoccupied with Vault (his other project)

Investments are actually one of the core features of Vault. From what I understand MoneyPot will migrate to Vault for bankroll and user balance management once it is stable enough. Other sites gambling sites will also be able to use Vault in the same way.

Just like MoneyPot, Vault is open source, so you can inspect the code and follow the progress on its GitHub page, if you're curious.

Github is not saying a lot, just that it's kind of a new wallet. What will be the main purpose of the "Vault"? How secure are the money currently stored in the MoneyPot game, or is this one of the issues they are trying to solve with "Vault"?

Main purpose of vault is to be a gambling wallet and investment wallet for multiple games including MoneyPot. I believe Ryan is trying to expand. Security-wise there's nothing which is improved in vault I believe.

The current situation on MoneyPot is the following AFAIK: Most of the funds are held in cold storage. I believe Ryan is using a trezor for cold storage as he mentioned using one multiple times in the chat. Cold storage addresses are not public and are not reused.
User deposit addresses are BIP32 addresses derived using the user id and are part of the hot wallet. Once the hot wallet has too much coins, some are spilled over to the cold storage. Idk exactly at which amount though.

Pretty nifty and clever system...

[Jungian]

That sound really interesting! I look forward to seeing the product!

[masterzino]

Grat work RHavar

[sed]

Assuming that I get around to trying this and that I finally accept that this dude calls bitcoins "bits", is there a faucet or a way to try the game without buying in?

[unamis76]

blockage and csmcanarney are right, but let me expand a little on what we're building with vault (which is coming together, but still 1-2 months from production quality).


Vault Value proposition for users:
* A highly usable web-wallet, suitable for day-to-day use with all the features you'd expect for that
* We don't ask who you are, or why you're using vault
* Good (external) privacy, your coins are mixed with everyones coins
* Offchain transfers: Transfer money to people/accounts instantly off-chain.
* Unified login system for gambling sites. Vault is an OAuth2 provider, and you can authorize apps to login and have access up to a specified  amount of money. Not only do you get the unified identity across sites, but you can "Add funds" instantly by just authorizing the app to gamble/spend more (no more waiting for confirmations)

Vault Value proposition for investors:
* Invest your money in a single bankroll, that is used by multiple websites. You only need to trust Vault, and not other gambling operators.


Vault Value proposition for devs/casinos:
* Focus only on building an engaging gambling game. You can even build a gambling game without running your own server!
* Leverage the dirt simple "Login With Vault", no screwing around with creating your own user system, security system, 2FA, forgot password, support requests to reset passwords/emails/2FA, etc., handling withdrawals, deposits and reduce friction for people who already have a vault account
* You can use the flexible provably fair betting API to make bets on behalf of your user. You can verify them in real time, to make sure Vault isn't ripping you off. The provably fair betting API is flexible enough to support games like: dice, roulette, plinko and slots from day one.
* Have users gamble directly against Vault's bankroll. This means on *day 1* you can offer high limits, and have absolutely no worries about variance or solvency, vault takes care of that for you.
* Offload security to Vault. All users balances are kept in vault as is the site bankroll.
* Have a steady source of income. From investors perspective, we always give them a 1/2 kelly for every bet (with a minimum of a 0.1% house edge). When ever you send Vault a bet with a house-edge greater than a 1/2 kelly, vault and your app will a 50-50 profit share. [1].  The core principle here, you get a steady stream of income based on your volume and the odds you offer your users.





[1] Details of the investor/vault/app profit sharing subject to change

I see you are making huge developments. This can change the gambling sites forever... Please keep on improving these ideas, they will be greatly appreciated!

[1gallon]

i made a short video of me playing this:

https://www.youtube.com/watch?v=uNb_o4tt-1s&feature=youtu.be

came ahead with a 0.001 profit

[ninjaboon]

i made a short video of me playing this:

https://www.youtube.com/watch?v=uNb_o4tt-1s&feature=youtu.be

came ahead with a 0.001 profit

awesome video, just saw my nick in it too!

and what is a "kelly"?

[ninjaboon]

and what is a "kelly"?

It comes from the kelly criterion which in the case of a casino, is super simple. A "full kelly" really just means, that the house accepts a bet where the profit is X% of it's bankroll when the house edge is X%. Most dice sites with a 1% house edge, refuse any bets that would put them above a half-kelly (0.5% of their bankroll).

ok got it, thanks.

[crazyearner]

need to get some of my free bits in here that I got around and play see if can win some big bits and make a small proft maybe luck is on me side as had a good start to the month and has been good though out it.