Received 15 new propositions, of which accepted 5, rejected 10.
Total bets in: 306, worth 290.50653964 BTC.
Revenue : 1.0513254i BTC, of which :
- bets resolved : 0.56355630ii BTC
- fees from refunds : 0.00010000 BTC
- advertising : 0.1 BTC
- house bets won : 0.38766910iii
- gracious donations to shareholders : 0.0 BTC
Expenditure : 18.59779756, of which :
- referrals paid : 0.01377244 BTC
- house bets made : 0.50000000 BTC
- Hosting : 0.13636363 BTC
- Cost of doing business in Bitcoiniv : 17.94766149 BTC
- Taxv, 0.0 BTC
Profit : 17.54647216 BTCvi.
One of Bitbet's worst months.———
- Only 90% drop from last month heh. [↩]
- 56.35563019 BTC total pool resolved this month. [↩]
- 0.60000000 BTC worth of house bets were resolved during the current month. [↩]
- We suffered at the hands of the mining cartel, as announced in the logs and detailed on Qntra.
Here's a transcript of the last board meeting on this matter, a few hours earlier :
kakobrekla i think that publishing raw tx so people can rebroadcast solves this in a much better way, it also keeps all the transparency and is not over-engineered to inconsistency
mircea_popescu how'd that go ?
kakobrekla upon payment of the bet the signed tx is published on bitbet - actually this should ideally be done even if there is no issues with tx broadcasting as formal evidence of payout
mircea_popescu so basically you add a box on the site for this, and i add the "get raw tx back to bitbet" in admin workflow ?
kakobrekla correct, i would add a box in the admin to enter raw txes that would get published for the users to see. then no one can go around claiming "why has this not been paid" etc
mircea_popescu does this come with an absolute guarantee that i am not responsible for anything past raw tx, and if it never gets included, bettor is out the money, because i will not under any circumstances repay it ?
kakobrekla as long as you dont spend those inputs for another payout - in case it doesnt get included
mircea_popescu and how the fuck will i guarantee this ? as long as i don't spend those inputs in a ~reasonable timeframe~, which must be given explicitly.
kakobrekla that would probably work
mircea_popescu (and even with all this - prepare yourself for the "i was scammed by bitbet because miners suck" threads all over reddit. all this does is practically sink bitbet, imo.). i grant you, much easier to implement.
kakobrekla reddit sink bitbet ? is this mp im speaking to?
mircea_popescu not fucking reddit. think about it for a minute. all they actually need to do is just keep delaying us. then competitor pops up, not being delayed. we just lost betting. for the sake of "hey, needs not much coding" we're basically giving the betting market to miners. best outcome as far as they're concerned. not enough they get to pick and choose who transacts bitcoin, now we're empowering them to decide who's gonna be bitbet ?
kakobrekla not only needs not much coding, its the right thing to do. else i just hide all inputs and address until bet paid out. same thing basically.
mircea_popescu can you explain that past simple pronouncements. "right thing to do", "overengineered into inconsistency", this dun on its own mean much. needs the whole chain of reasoning.
kakobrekla the right thing to do is to prove your payment in an explicit way.
mircea_popescu except "prove your payment" means different things to different people. we're so far "proving check is in the mail". ok. so ? i wouldn't accept it as proof of payment for mpex. for that matter, we don't accept that for bitbet. why should bettor have to accept "here is raw tx". bitch, i gave you btc not "raw tx"
kakobrekla way better than what we have now. which is nothing.
mircea_popescu "better than shit" is how we ended up with "core".
kakobrekla rawtx is the ultimate proof of payment which is also usable in a sense it can be rebroadcast. anyway lunch time.
mircea_popescu afaik the only proof of payment is block inclusion.
kakobrekla say you use sepa and send someone some euros via that and his bank goes under - your proof of payment is to his bank, not that he has withdrawn. bbl
mircea_popescu fiat is insured. completely orthogonal discussion.
kakobrekla tell that to the bank customers that get diddly squat
mircea_popescu really, bolting on a discussion of fiat banking in here is nonsense. we'll never be through with it, and besides it's asymmetrical - i've sued more banks than you.
kakobrekla anyway as far as i can see bbet survived delayed payouts for weeks without longterm consequences
mircea_popescu hence the 6 to 60 in there.
kakobrekla mircea_popescu> afaik the only proof of payment is block inclusion. < we already established you cant guarantee that unless you have a pool. so the next best thing will do for practical purpose.
mircea_popescu we haven't established such. the options are "1. guarantee inclusion for public txn - needs pool" OR "2. keep txn secret - needs nothing". i notice you don't even wish to discuss 2, but this does not make it go away. the qntra commenter does have a point - bitcoin is designed to work with secret txn, not with public txn.
kakobrekla i discussed it, [15:16:41] kakobrekla else i just hide all inputs and address until bet paid out
mircea_popescu so basically take out 1.1-1.3 and just keep the sha ?
kakobrekla but then we lose 'what made bbet bbet'
kakobrekla we become fairlay.
mircea_popescu this is perhaps the most unpleasant thing i encountered since bitcoin. anyway, here's the thing : doing your thing is easy and can be done fast. mine, not. doing your thing does not prevent us from doing mine later, or whatever. so, logically - let's do your thing and see how it plays out. who knows, maybe the past few days put the fear of god in them.
mircea_popescu i wll need something like 2-3 days to update the payment process. i think it's something like that.
kakobrekla no rush.
Bear in mind that Bitcoin always was and to this day remains not ready for prime time, which specifically means that it is not a mature or even reliably usable (or even extant, because no, code is not protocol - admitting for the sake of argument that the miserable rat's nest of crap spread on hairballs currently run by ~everyone can even be called "code" in any meaningful sense) payment protocol, that the cost of doing business in Bitcoin can not be evaluated prospectively but only measured retrospectively and that in general you should have no hopes and form no expectations of anything Bitcoin related working in any particular manner, within any specific interval or within any definite budget. It's how it is. [↩]
- Owed to Bitcoin's Sovereign. [↩]
- Bitbet, of course, holds no assets and consequently should in principle be dissolved on the first loss month. Nevertheless, I am floating its negative cash balance free of charge, with a view of being defrayed from future profits. This line of credit carries seniority above that of shareholders and below that of bettors. [↩]