Is it true only investors lost the money in moneypot but moneypot owners and app owners are in profits?
I'm not so good in understanding the statistics, but from this table, it looks like only investors lost the money and others are in still profit. If it is true, then moneypot is not suitable for investors, right?
I'm not so good in understanding the statistics, but from this table, it looks like only investors lost the money and others are in still profit. If it is true, then moneypot is not suitable for investors, right?
Yes, it's true.
The site and the apps make a guaranteed gain every time a bet is placed, even if the bet wins. When a bet wins, not only do the investors have to pay the winner of the bet, but they also have to pay the site and the app owner. You can see that in the screenshot. Comparing the left and right sides you see that while the site profit dropped by just 78.5 BTC, the investor profit dropped by 82.5 BTC. The app owners actually profited by 3 BTC from this large loss, and the site itself profited by a further 1 BTC. The investors made up the difference.
On the other hand, if the apps ever do better than expected then the investors will also do better than expected. The site and the apps take a percentage of the wagered amount, independent of the actual profit. The way things are set up means that when the site performs at less than 70% of expectation the investors take a loss.
If moneypot and app owners are not involved in risk taking than I don't consider such sites are safe to invest money and it is just my opinion because I think in some way site owners and app owners also need to pay these big wins then only I feel whole business model can grow in a healthy way otherwise I think it is not fair to push all losses to only investors. And I don't think hosting and maintaining site cost will be that high to push all big wins only to investors.
We as app owners make a whopping 40% of the house edge now. That means if we have a 1% House Edge we will make .004btc from every 1btc wagered. You think we are getting rich or something and youre incorrect. Now youre saying we should share in the big losses? Are you ignorant?
We app owners have hosting and domains to pay for. Then add in all the advertising we do. Now toss in dev costs(not exactly cheap). And lastly add in the promos we do(which have to be paid regardless of whether ppl are wagering or not if we announce them). For example i have a 1btc wagering contest going on on bubblesbit. 19 days into the month we have 72btc wagered. Do the math on the House edge now. we need 250btc wagered in the month to break even just on the promotion with the current app owners cut. 250-72 =178btc left to be wagered for us to break even. Im pretty sure im paying this promo out of my pocket buddy.
This doesnt include the fact that now moneypot also wants us to pay our own damn faucets now.
So i ask you how in the hell do you expect app owners to pay for big losses as well?
Dont comment unless you have a fucking clue is all im saying.Yahoo - nothing is personal and not just for signature purpose I wrote that comment. I lost my money as investor so wrote my personal feeling about this investment
But I feel that in business everyone should be responsible for the significant losses which happen in every business. Not only investors should take all those risks. Also, people do promotions by expecting some profit either immediately or in the longer term, and if I'm not wrong no one will do a charity work to distribute money to public, and I hope you will agree on this point.
I wrote that comment based on my personal experience because not making any profit from quite some time in moneypot investments.
I know you're one of the reputed guy running many campaigns on this forum so it is not good to use those bad words in public and it will not give you any respect.
I'm an investor, so if I lose money, then I hope can suggest some better feature for the owners, and I withdraw my investments already because it is no more attractive for me. And similarly, if you think that you can't make money from your site then no one is forcing you to run promotions and should know what to do right?
Still, there is a lot of opportunities improve moneypot profit distribution method to attract more investors, and that's what I want to say.
Yea i read that and added in with the recent changes to the system i came off like a hotheaded prick. My apologies for that. Im not gonna delete the comment as im human and emotions do come into play at times when it comes to money.
I do however not share your opinion on apps being a part of the loss. Im not some untitled dice free script. I have actual money sunk into my site. If some whale comes in and wins 100 btc its not the apps fault. There are winners and there are losers in gambling. Investors should understand these risks before investing. Ive said it before and ill say it again," ppl do have to win here and there, otherwise why gamble ever?"
Moneypot is supposed to be provably fair and any app that is on the system is also provably fair from my understanding. In the long run the house always wins in gambling. This is something thats all investors should keep in mind.
Theres alot more i want to write but Im gonna sit back and see what happens. I cant give MP a solid idea on how to treat the situation because what theyre doing is not my expertise. Theyre doing what they feel is best and we just gotta ride the wave whether a player, investor, or owner.