Post
Topic
Board Gambling
Re: BitBet incorrectly declares yes to a no bet. Stay Away from BitBet!!
by
dexX7
on 07/09/2013, 00:02:17 UTC
Edit: post #35

The first question to be answered here is not "do the given circumstances meet the conditions as stated in the bet", but something else I'll address right away.

First off, the circumstances:

1. Bet terms:

Quote
Devices must meet advertised performance (25 GH/s unit 40W, 400 GH/s unit 400W) in order to be accepted as valid.

2. punin's statement:

Our preliminary tests show that the boards are falling a bit short on hashrate. This might be due to differences between wafers, immature software or SPI issues. Because we are in a hurry to ship, you win: I will ship your ordered hashrate regardless (ie. more hardware free of charge) until we fix this issue and can provide 400GH in one unit.

3. MP's statement:

Quote
14:25:31 fractal: http://bitbet.us/bet/520/bitfury-eu-august-orders-will-ship-before-1st/
14:25:34 ozbot: BitBet - Bitfury EU August orders will ship before 1st September 2013
14:25:42 fractal: what if they ship 2 units to make up for lower hashrates?
14:25:56 fractal: is the bet yes or no?
14:26:52 mircea_popescu: (25 GH/s unit 40W, 400 GH/s unit 400W)
14:28:23 mircea_popescu: fractal seems pretty clear cut neh ?
14:28:40 fractal: mircea_popescu: just double checking.
...
14:34:26 fractal: right. well that bet seems like a sure thing for the NO side based on this post from bitfury stating it will miss performance numbers ... https://bitcointalk.org/index.php?topic=250249.msg3014225#msg3014225
14:34:43 fractal: i guess we'll see in a few days
14:34:46 mircea_popescu: it's mostly his money on the yes anyway, afaik, so what can i tell you.

4. The bet was resolved as "Yes":

Quote
Bet outcome: Yes
Even if not a very clear cut case, all technicalities aside the bet was substantially delivered upon.


There are no terms defined by BitBet how the outcome of a bet will be determined and obviously there is no definition of a "unit" given, thus all "facts" are no facts, but a subjective interpretation.

The following addresses that:

Quote
14:32:06 fractal: so in general, if there is some ambiguity to the bet language, users trust the site to make the correct decision, based on previous fairness?
14:32:32 mircea_popescu: pretty much.
14:32:55 mircea_popescu: some users get pissed off with the eventual results on occasion, but what can you do.

Basically this translates to "BitBet has the last word".


Thus I think this discussion shouldn't focus on subjective interpretations, but on the question: "does BitBet has the right to rule?"