BitBet, April 2014 Statement

Saturday, 03 May, Year 6 d.Tr. | Author: Mircea Popescu

Operational results


Received 85 new propositions, of which accepted 32, rejected 53.

Total bets in worth 217.74633674 BTC in 397 bets.i

Revenue : 6.51249823 BTC, of which :

  • bets resolved : 3.60714235ii
  • fees from refunds : 0.14100000 BTC
  • advertising : 0.2 BTC
  • house bets won : 1.41835588iii
  • gracious donations to shareholders : 1.14600000 BTC

Expenditure : 3.20900000 BTC, of which :

  • referrals paid : 0.00090000 BTC
  • house bets made : 3.20000000 BTC

Profit : 3.30349823 BTC.

Because MPEx shareholders were paid 3.68215306 BTC instead of the 1.10464591 BTC they were actually due for February, 30% of profits going forward will be allocated to covering that credit, in lieu of MPEx dividends. This sum comes to 0.99104946 BTC this current period, leaving the credit to be covered in following months at 1.22827111 BTC. Anyone wanna bet whether this charge will be resolved the following period or not ?


Miscellaneous


The fact that referral revenue remains very lowiv is managements' main point of concern.

I can't for the life of me comprehend why this is the case. I have tried to advertise for the position with the most hilarious of resultsv, and some perhaps hopeful resultsvi. It would be exceedingly sad if this business model, that thrived for an entire decade, has magically died in the thin stretch between that moment when the tube farms killed the paysite and that moment when Bitcoin could have saved it (which moment is today, and otherwise coincides with the birth of BitBet.).

Be that as it may : if you are an experienced affiliate manager, or if you know someone who is, drop me a line, we'll work something out.

———
  1. bitbet-intake-apr-2014 []
  2. 360.71408994 BTC total pool resolved this month. []
  3. 2.60000000 BTC worth of house bets were resolved in the current month. []
  4. Since the referral paid is 1% of the actual bets of the referred (ie, BitBet's entire take), 0.00090000 BTC in referral payments implies that this entire month affiliates have driven traffic that has made bets worth 9 bitcents. []
  5. Apr 22 15:36:06 * rammy2k2 (050ca259@gateway/web/freenode/ip.5.12.162.89) has joined #bitcoin-assets
    Apr 22 15:36:11 mircea_popescu !up rammy2k2
    Apr 22 15:36:13 * assbot gives voice to rammy2k2
    Apr 22 15:36:17 rammy2k2 hey
    Apr 22 15:36:20 rammy2k2 salut mircea_popescu
    Apr 22 15:36:23 rammy2k2 :)
    Apr 22 15:36:26 mircea_popescu hi.

    PRIVMSG rammy2k2 salut. despre ce affiliate help ai nevoie ?

    Apr 22 15:39:25 mircea_popescu rammy2k2 you speak english ?
    Apr 22 15:39:35 rammy2k2 for shizzle
    Apr 22 15:39:44 rammy2k2 sure
    Apr 22 15:39:44 mircea_popescu cool. so tell me about your aff manager experience ?
    Apr 22 15:40:18 rammy2k2 well, i've been working in adult industry for some years, affiliates , dunno if it applies on what u need, but i was curious :)
    Apr 22 15:40:37 mircea_popescu rammy2k2 adult works. who've youy been working for ?
    Apr 22 15:41:44 rammy2k2 mircea_popescu: streamate, money tree, chaturbate
    Apr 22 15:41:57 mircea_popescu rammy2k2 when, for how long, gimme some highlightds
    Apr 22 15:42:38 rammy2k2 mircea_popescu: i quitted adult like 1 year ago, since i got seriously into this disease called crypto
    Apr 22 15:42:45 rammy2k2 worked for like 5 years
    Apr 22 15:42:52 mircea_popescu rammy2k2 when you started adult is more interesting. who were you on gfy ?
    Apr 22 15:43:02 rammy2k2 yes
    Apr 22 15:43:04 rammy2k2 still am
    Apr 22 15:43:05 rammy2k2 :)
    Apr 22 15:43:08 mircea_popescu who ?
    Apr 22 15:43:11 mircea_popescu same handle ?
    Apr 22 15:43:13 rammy2k2 seXXXhub
    Apr 22 15:43:46 rammy2k2 had some troubles with zombaio, but who didnt ? : ) )
    Apr 22 15:44:38 mircea_popescu rammy2k2 to be clear, were you working as an affiliate manager for any of these programs you mentioned, or simply used them as an affiliate ?
    Apr 22 15:44:51 rammy2k2 oh, simply used them
    Apr 22 15:45:27 mircea_popescu myeah.
    Apr 22 15:46:20 rammy2k2 in what area u need stuff to be done ?
    Apr 22 15:46:50 mircea_popescu in the area where someone with 10 years' experience being an aff manager, and whom i can verify worked with programs i know and delivered results, is looking to start a biz.
    Apr 22 15:47:03 mircea_popescu you're not that guy, you're some guy that joined gfy in 2011. []

  6. Apr 23 11:42:56 fluffypony mircea_popescu: I reached out to an affiliate manager I know of, great candidate, to see what it would cost to lure him away from his current venture...no word back. []
Category: S.BBET
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7 Responses

  1. kakobrekla`s avatar
    1
    kakobrekla 
    Sunday, 4 May 2014
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    Hash: SHA1

    BitBet, April 2014 Statement

    Operational results
    Received 85 new propositions, of which accepted 32, rejected 53.
    Total bets in worth 217.74633674 BTC in 397 bets.i

    Revenue : 6.51249823 BTC, of which :

    bets resolved : 3.60714235ii
    fees from refunds : 0.14100000 BTC
    advertising : 0.2 BTC
    house bets won : 1.41835588iii
    gracious donations to shareholders : 1.14600000 BTC
    Expenditure : 3.20900000 BTC, of which :

    referrals paid : 0.00090000 BTC
    house bets made : 3.20000000 BTC
    Profit : 3.30349823 BTC.
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  2. fiftystorms`s avatar
    2
    fiftystorms 
    Tuesday, 23 September 2014

    "Because MPEx shareholders were paid 3.68215306 BTC instead of the 1.10464591 BTC they were actually due for February, 30% of profits going forward will be allocated to covering that credit, in lieu of MPEx dividends."

    Can you explain what this means? What have MPEx shareholders got to do with BBET? If they were overpaid, why aren't MPEx shareholders paying BBET shareholders back? Why are BBET profits being deducted?

    Probably stupid questions but it makes no sense from the one line given to explain it.

  3. Mircea Popescu`s avatar
    3
    Mircea Popescu 
    Tuesday, 23 September 2014

    @fiftystorms The 30% shares held by people on MPEx (ie, the "MPEx shareholders [of BitBet])" were paid as if they held 50% because human error.

    This was explained a few statements back and reiterated a coupla times, but by now all that probably covered in the blankets of history.

    As a general point : it's a good idea to read the full history of a company you're interested in. I realise this can be well inconvenient, especially as MPEx company lifespans far exceed the BTC average, but inconvenience is no practical excuse. Perhaps in time the actual role of BTC financial advisor will be filed, by people doing useful stuff to save everyone else the time. Such as for instance reading all the statements and spitting out summaries etc. The future looks bright.

  4. Ah I see. I had read it all, but the [of BitBet] was nowhere present I think, and not obvious (to me at least). Read like MPex shareholders in general. Clarity helps too, you know. What's obvious to you as the guy doing all the money shuffling isn't obvious to outsiders.

  5. Mircea Popescu`s avatar
    5
    Mircea Popescu 
    Wednesday, 24 September 2014

    No biggy.

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