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Author Topic: is BITBET.us a scam?  (Read 1482 times)
suryc
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October 13, 2014, 02:48:19 PM
 #1

Seems like bitbet is doing some shady things these days like resolving bets when they are not actually resolved. They closed a bet on the price that the winner of the silk road bitcoin auction (Tim Draper) paid to win the auction, without actually having any information.....

http://bitbet.us/bet/951/silk-road-coin-auction-extravaganza/
http://log.bitcoin-assets.com/?date=12-09-2014#827352

Another good site turns into a scam site... bad for bitcoin

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waterpile
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October 13, 2014, 03:03:57 PM
 #2

googled it and its full of complaints and scam accusations. so yeah its likely to be one
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October 13, 2014, 04:04:09 PM
 #3

Bb has a lot of things wrong with it, misresolved bets is just one of them. A serious issue is that they don't SSL so the deposit addresses you get can easily be hijacked. The site is probably not a scam but with the way they operate it might as well be categorized as such.

We're trying to create the next generation of betting with BetMoose (https://www.betmoose.com) - the bet resolution model is distributed so we can't possibly have a misresolved bet. Plus, we return 100% of any unfair or cancelled bets and do not require a paid wager to submit.

Hopefully current and future bettors demand this type of security and functionality.





BetMoose.com - Wager on real world events. Profit from predicting the future. Create and share your own contracts.
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October 13, 2014, 08:52:54 PM
 #4

Bb has a lot of things wrong with it, misresolved bets is just one of them. A serious issue is that they don't SSL so the deposit addresses you get can easily be hijacked. The site is probably not a scam but with the way they operate it might as well be categorized as such.

We're trying to create the next generation of betting with BetMoose (https://www.betmoose.com) - the bet resolution model is distributed so we can't possibly have a misresolved bet. Plus, we return 100% of any unfair or cancelled bets and do not require a paid wager to submit.

Hopefully current and future bettors demand this type of security and functionality.


can you explain why SSL is required in any way for the passing of deposit address ? who cares if someone in the middle see's that address, to what possible end would they use it to an advantage (... or the players disadvantage?) ?

SSL only means the communications between browser and server are encrypted : the lack of SSL does not mean a man-in-the-middle can change the data to their own deposit address. Is that what your implying here ?

just wondering, because if a raw exposed deposit address is a bad thing, i need to know! i do this myself on a few sites.

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October 13, 2014, 09:08:52 PM
 #5

We are a prediction market similar to bitbet.us. We had the same problem on Silk road events. But we decided to cancel all predictions: https://www.fairlay.com/predict/registered/new/from-silk-road-seized-bitcoins-will-be-sold-for-600-each/

By the way, the main disadvantage of bitbet is the parimutal betting system. To make this clear we created this bet: https://www.fairlay.com/predict/registered/new/will-bitbet-us-berkshire-resolve-to-yes/

It is a bet on the outcome of a bet on bitbet.us and it shows that you get on BOTH possible outcomes SIGNIFICANT better odds on Fairlay.com.

www.fairlay.com - the Bitcoin prediction market - the future of reliable information
bitkate
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October 14, 2014, 06:16:12 AM
 #6

whats bitbet?sportbook or casino ?

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October 14, 2014, 10:54:05 AM
 #7

whats bitbet?sportbook or casino ?

I think its a casino

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October 29, 2014, 02:38:31 PM
 #8

I dont think its a scam, but they have there own rules... that we dont like!
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