RHavar



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LegendaryActivity: 2128Merit: 1670 Auction of MoneyPot.com the bitcoin gambling wallet November 15, 2015, 12:40:20 AM #1 Note to players/casinos: Any change of ownership, or event that would have any impact or risks will be clearly announced significantly in advance.



Users balances, logs, ip addresses, deposit and withdrawal history will **NOT** be included in this sale







--

For those not familiar with the bitcoin gambling scene, MoneyPot.com is quite a popular bitcoin gambling wallet and service. It provides an API for casinos to run their own service, allows players to transfer money between casinos and provides a unified bankroll for investors. I started first working on it over a year ago, launching it in March this year.





The amount of workload I've had recently has become a bit unmanagable ( both in bitcoin gambling, and out of it), and I'm looking to lighten my workload up as much as possible by selling moneypot.com (And am not working on or for a competitor/successor of MoneyPot).





Furthermore, as MoneyPot accepts 3rd party bankroll investments, it is currently has attraced over 630 BTC of other peoples money, which could make this property very attractive to a scammer. As such, I am not willing to sell to a completely anonymous person.



All source code (node.js/postgres) and intellectual property rights are included. The domain moneypot.com has been in continuous use for bitcoin gambling, since July 2014 so it's well ranked and in itself has fielded offers of $10k USD



I am also willing to assist in migration of the site to the new owner to help make it a seemless transition.



As everyone loves charts:



Wagering statistics:



(Note: MoneyPot itself has made a bit over 35 BTC through comissions and cold deposit fees. I've also held >= 20% of the bankroll)





User growth (proper registration, not instant-account creation):







Auction Format



This will be a silent auction, terminating at midnight of 31st of November GMT. All offers need to be either PMd to me here, or emailed to



Payment method is bitcoin only (preferably an escrowed 2-3 multisig transfer).





Good luck! I look forward to hearing from you : Any change of ownership, or event that would have any impact or risks will be clearly announced significantly in advance.--For those not familiar with the bitcoin gambling scene, MoneyPot.com is quite a popular bitcoin gambling wallet and service. It provides an API for casinos to run their own service, allows players to transfer money between casinos and provides a unified bankroll for investors. I started first working on it over a year ago, launching it in March this year.The amount of workload I've had recently has become a bit unmanagable ( both in bitcoin gambling, and out of it), and I'm looking to lighten my workload up as much as possible by selling moneypot.com (And am not working on or for a competitor/successor of MoneyPot).Furthermore, as MoneyPot accepts 3rd party bankroll investments, it is currently has attraced over 630 BTC of other peoples money, which could make this property very attractive to a scammer. As such, I am not willing to sell to a completely anonymous person.All source code (node.js/postgres) and intellectual property rights are included. The domain moneypot.com has been in continuous use for bitcoin gambling, since July 2014 so it's well ranked and in itself has fielded offers of $10k USDI am also willing to assist in migration of the site to the new owner to help make it a seemless transition.As everyone loves charts:Wagering statistics:(Note: MoneyPot itself has made a bit over 35 BTC through comissions and cold deposit fees. I've also held >= 20% of the bankroll)User growth (proper registration, not instant-account creation):This will be a silent auction, terminating at midnight of 31st of November GMT. All offers need to be either PMd to me here, or emailed to ryan@moneypot.com accompanied with a signed message showing you have enough money to make a serious bid. Minimium bid is 50 BTC. I reserve the right to reject any and all bids. More than just the bid amount, I am especially interested in some of the soft qualities (who you are, what skills you have, what your plans are), and very-well might pick the bidder who didn't actually bid the most. =)Payment method is bitcoin only (preferably an escrowed 2-3 multisig transfer).Good luck! I look forward to hearing from you

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LegendaryActivity: 854Merit: 1000 Re: Auction of MoneyPot.com the bitcoin gambling wallet November 15, 2015, 03:01:38 AM #3 Sad to see you let go of MoneyPot. Was pretty surprised to see this auction up.

Always saw you as the right man for the job, as I trust you and this sort of thing

requires a large amount of trust.



Just make sure to keep it away from them scammers.



Regards,

JM Erestain

Quickseller

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Copper MemberLegendaryActivity: 2226Merit: 1953 Re: Auction of MoneyPot.com the bitcoin gambling wallet November 15, 2015, 03:26:43 AM #4 Probably will not be making a bid (although I may), however I have been watching MoneyPot for a while, and would be curious to see what ends up happening with MoneyPot.



A couple of questions that someone who might be considering to buy your site might be wondering:



Can you give information on the costs/expenses that MoneyPot incurs?



Can you give information on how much MoneyPot (as a site) has earned over time? This is especially important because of the unique feature of having App devs (and having to pay them).



Can you explain the estimated profit that would be estimated to be earned by the site for every 100 BTC that is wagered by gamblers making large (>0.25 BTC ) bets, and for every 100 BTC that is wagered by gamblers making very small (<0.00001 BTC bets)? (under current policies, and assuming that bankroll is 100% crowd funded, and assuming 100% luck for the casino overall)?



Would you be willing to sell a portion of the site (so someone could buy say 10% of the site, but not the bankroll)? The head executive of the executive office of the department of the redundancy departments office

ranlo



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LegendaryActivity: 1820Merit: 1007 Re: Auction of MoneyPot.com the bitcoin gambling wallet November 15, 2015, 04:02:21 AM #5 Quote from: Quickseller on November 15, 2015, 03:26:43 AM Probably will not be making a bid (although I may), however I have been watching MoneyPot for a while, and would be curious to see what ends up happening with MoneyPot.



A couple of questions that someone who might be considering to buy your site might be wondering:



Can you give information on the costs/expenses that MoneyPot incurs?



Can you give information on how much MoneyPot (as a site) has earned over time? This is especially important because of the unique feature of having App devs (and having to pay them).



Can you explain the estimated profit that would be estimated to be earned by the site for every 100 BTC that is wagered by gamblers making large (>0.25 BTC ) bets, and for every 100 BTC that is wagered by gamblers making very small (<0.00001 BTC bets)? (under current policies, and assuming that bankroll is 100% crowd funded, and assuming 100% luck for the casino overall)?



Would you be willing to sell a portion of the site (so someone could buy say 10% of the site, but not the bankroll)?



I think instead of trying to get him to portion out the site, it'd be better to just invest with others in a group situation. I think instead of trying to get him to portion out the site, it'd be better to just invest with others in a group situation.

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LegendaryActivity: 2128Merit: 1670 Re: Auction of MoneyPot.com the bitcoin gambling wallet November 15, 2015, 04:09:12 AM #6 Quote from: whathewhat on November 15, 2015, 02:09:12 AM does this include just the software and domain or also the costarican entity and the associated gaming license? also, what about the other domains/software (socketbot, etc)?



All software and projects are included (including socketpot).



It does not however include the Costa Rican company (I like the protection it provides, and would prefer to keep it to run bustabit and pevpot under that entity), but if someone was willing to pay an extra ~$2k USD (the cost of me setting up a new company) + the legal fees of transferring it, I would be happy with transferring it. Or could come to some arrangement where bustabit/pevpot continue to run under that entity.







Quote from: Quickseller on November 15, 2015, 03:26:43 AM Can you give information on the costs/expenses that MoneyPot incurs?



My hard-costs are about ~450 USD a month in hosting. If I tried, I could probably knock that down considerably, but as it stands most of that goes to high quality database hosting I run it with a beefy and replicated setup (even losing a few minutes worth of data, could be horrific)



Quote Can you give information on how much MoneyPot (as a site) has earned over time? This is especially important because of the unique feature of having App devs (and having to pay them).



MoneyPot has only directly made about 35 BTC from commissions. (Although I personally made another 56 BTC on the original 100 BTC I seeded the bankroll with). Throughout most of MoneyPot's existence I've been waiving commissions (including right this moment) to either help developers or investors. Honestly, commissions have made relation between developers and investors very tricky. On one hand there's sites like JustDice which offers (amortized) 90% of the house edge to investors. And there's other sites like PrimeDice which offers (amortized) 100% of the house edge to the owners. So I'm in a tricky situation where often app developers look at a site like PrimeDice and complain about not making a higher cut, whilst at the same time investors look at a site like JustDice and complain about making too low of a cut.



My general solution for this has typically been to waive commissions, especially after big events (e.g. BetterBets got hacked, so I waived app commissions for a while). I've been fortunate to have a pretty decent source of income from bustabit (~50 btc/month) and always held a >= 20% stake in MoneyPot's bankroll, so I've had the luxury of delaying the question of the best way to monetize it.



Probably the nicest thing about owning the site, is that you have no counter-party risk (which is probably the biggest reason to not invest in bankrolls). So you're able to own a large percent of the bankroll without too much worry. With a 10% fee on investor profits, you can use that to own more-and-more of it.





Quote Would you be willing to sell a portion of the site (so someone could buy say 10% of the site, but not the bankroll)?



Sorry, I'm really just looking to free up time. All software and projects are included (including socketpot).It does not however include the Costa Rican company (I like the protection it provides, and would prefer to keep it to run bustabit and pevpot under that entity), but if someone was willing to pay an extra ~$2k USD (the cost of me setting up a new company) + the legal fees of transferring it, I would be happy with transferring it. Or could come to some arrangement where bustabit/pevpot continue to run under that entity.My hard-costs are about ~450 USD a month in hosting. If I tried, I could probably knock that down considerably, but as it stands most of that goes to high quality database hosting I run it with a beefy and replicated setup (even losing a few minutes worth of data, could be horrific)MoneyPot has only directly made about 35 BTC from commissions. (Although I personally made another 56 BTC on the original 100 BTC I seeded the bankroll with). Throughout most of MoneyPot's existence I've been waiving commissions (including right this moment) to either help developers or investors. Honestly, commissions have made relation between developers and investors very tricky. On one hand there's sites like JustDice which offers (amortized) 90% of the house edge to investors. And there's other sites like PrimeDice which offers (amortized) 100% of the house edge to the owners. So I'm in a tricky situation where often app developers look at a site like PrimeDice and complain about not making a higher cut, whilst at the same time investors look at a site like JustDice and complain about making too low of a cut.My general solution for this has typically been to waive commissions, especially after big events (e.g. BetterBets got hacked, so I waived app commissions for a while). I've been fortunate to have a pretty decent source of income from bustabit (~50 btc/month) and always held a >= 20% stake in MoneyPot's bankroll, so I've had the luxury of delaying the question of the best way to monetize it.Probably the nicest thing about owning the site, is that you have no counter-party risk (which is probably the biggest reason to not invest in bankrolls). So you're able to own a large percent of the bankroll without too much worry. With a 10% fee on investor profits, you can use that to own more-and-more of it.Sorry, I'm really just looking to free up time.

ranlo



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LegendaryActivity: 1820Merit: 1007 Re: Auction of MoneyPot.com the bitcoin gambling wallet November 15, 2015, 05:14:25 AM #8 Quote from: MillionsBTCdev on November 15, 2015, 05:12:36 AM Its sad to see that you decided to auction the site.. I don't see anyone else capable enough to do what you did for the site, the investors and the devs.. But then again, real life is more important, and for that i salute you for it..



What happens if no one bids after the deadline? And incase someone bids and he/she got no competition, will he automatically win? Bidding 50btc is easy for big competitors of moneypot, Its gonna be sad to see some competitor site bidding for the site and winning, and just for the sake of abandoning it.. Every big business will do anything just to remove a competitor, even if it means spending and buying it..



Also what will happen to the current apps that are currently hosted or powered by moneypot if the new owner decides to just drop the project after buying it.



Again, its sad to see the site up on auction, And i salute you for what you did and have done for the bitcoin community. I wish you all the best in life.



Regards,

Uni



I doubt someone would buy it and just trash the site. And since he's looking for reputable people, he would hopefully choose someone that wants to really boost the site up even more and promote it more heavily. I doubt someone would buy it and just trash the site. And since he's looking for reputable people, he would hopefully choose someone that wants to really boost the site up even more and promote it more heavily.

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Casascius AddictLegendaryActivity: 2128Merit: 1119 Re: Auction of MoneyPot.com the bitcoin gambling wallet November 16, 2015, 01:01:57 PM #18 . I also assume something like this would not be good for a US resident to own? I would love to own a site like that, but sadly I lack the technical know how to run it properly. I also assume something like this would not be good for a US resident to own?