Bitcoin Forum

Token price at HITBTC is under average ICO selling value and keeping falling.

The book is almost empty, any ative order above 5btc may rise or drop the price 40-50%.

It is not the best time to hold equity tokens, the trend is btc dominance to grow and altcoins deteriorate - foremost ICO equity tokens.

However, BitDice (CSNO) has an clear advantage over most projects: it represents rights of share profits of a business that already have profit for several semesters.

It is a bet on a bet site: if the business pays some ETHs as promised, its value tend to rise and fluctuate with the dividends; if after one year they don't pay more than 5% of the market price, it should run to the bottom.

If more exchanges adopt the token, It may also rise for a while, but the ultimate question is the distribution of profits.

Thank you guys for your answers.

I do not expect the price will go up until first dividends payed and ppl will know about it.

Will buy more to get more dividends. According to whitepaper they are going to be huge.. :)

The ICO just finished few days ago.
So can anyone with experience tell me if I should invest more in this coin?
Comparing to other similar projects bitdice looks better.

First. Why we need the ico for gble ? There are many gamble ico already i see no one succeed yet. Also crypto world already has agble site which is secyre and not scam like nitrogen, for dice we have many dice site..

The ICO just finished few days ago.
So can anyone with experience tell me if I should invest more in this coin?
Comparing to other similar projects bitdice looks better.

See previously 3 months back another company called TaaS their starting price of the coin is nearly 0.80 USD and now the price is around 3.6$ after first dividends. Comparison with them I think Bitdice has the good track record when compared to TaaS because BitDice has run their casino site more than a year now and have paid to their members on time without any faults.

may i know how much the ICO token price CSNO ?

The ICO just finished few days ago.
So can anyone with experience tell me if I should invest more in this coin?
Comparing to other similar projects bitdice looks better.

Around 10k satoshi as far as i know, But that can be changed if there is an update from the developers regarding the unsold token, but i think that the project already sold out to the investors.

I think it's worth thinking because the team will not be able to sell their coins in the first 6 months

You need to visit their website and see how many people are playing, if many people play using this coin the price will keep growing, I think the easiest gambling coin in prediction

You need to visit their website and see how many people are playing, if many people play using this coin the price will keep growing, I think the easiest gambling coin in prediction

Few months ago was like 30 players active playing games. With ICO money they will build way more games so I am sure number of players will drasticlly increase.

But these numbers are crazy low compared to the value of the token right? I mean right now they have 10 active players..

As of December 4 2017, the casino profits is $755k at current crypto rates. If you deduct BitDices share (30 million tokens), that's 0.0052 net btc per token distributed the public. The month isn't over yet, therefore, I am expecting it to be $900k - $1 million casino profits. The current CSNO price won't last long, get them while they are cheap.

Bitdice seems very strong. It is only in HitBtc at the moment, but it will be listed on other exchanges like Cryptopia soon. they will distribute revenue every 4 months and they have an ongoing business already.

I dont expect it will go to moon but it will be a very good long term token that can be hold.

I agree,

I got into this with the ICO and I will be topping up again shortly,

This is a great coin with a proven business model already, it pays out Eth every 4 months as an added bonus.

I will probably end up using tokens to bet on sports, once they implement it onto their website  ;)

Do you get ETH also if you hold the tokens on an exchange?

No they need to be in your wallet where you control the private keys.

I am positive about the outlook for Q4 dividend. This will in turn raise the CSNO price x2 or more in April for Q1 dividend. Would have been better to just hold BTC but I invested in Bitdice ICO to diverse my portfolio and having a continuously stream of income to reinvest into my portfolio.

Pay-out in terms on ETH which I believe will raise to $1,000 over the next ½ year. So all in all it is just a brilliant addition to one’s portfolio and provides some safety from fluctuations due to its dividend.

Btw. price is today $.36 each CSNO token. I beleive alot are waiting up until close to snapshop date to increase their holdings. So snapshop date I actually think we could be over $.50 each token.
Estimated revenue $1,000,000 x 0,70% / 100,000,000 =  $0,007 per CSNO. That is for one quater. $0.028 per year and at a price at $0.50 we have a dividend at 5.6% with $1,000,000 in revenue and a token price at $0.5. That is not expensive considdering the future roadmap with future expected growth. That is actually dirt cheap!

I agree,

I got into this with the ICO and I will be topping up again shortly,

This is a great coin with a proven business model already, it pays out Eth every 4 months as an added bonus.

I will probably end up using tokens to bet on sports, once they implement it onto their website  ;)

Is this offer still available?

When are the payment dates? Will Q4 be paid on 1st of Jan?

From Telegram it has been said by the admin in the group that payout will be middle to late in January. I expect price to soar more than than the dividend itself due to people finding out that CSNO is indeed legit.

Another coin for gambling market, how many of them failed before? The answer is - all of them

From Telegram it has been said by the admin in the group that payout will be middle to late in January. I expect price to soar more than than the dividend itself due to people finding out that CSNO is indeed legit.

This is not a casino just starting out, this is a casino that has been around for a long time and that has players and established earnings already, they are just changing the model in which people can invest in the casino, instead of investing in the bankroll people now invested in tokens and they get about 70% of the profits of the casino.

When can we expect the dividend payments?

When will results of Q4 be announced?

according to telegram's group we should expect divs and results today- tomorrow

Ah please if you could share the results would be much appreciated.

Will dividends be paid as soon as the results are announced?

I own 1000 CSNO and I received 0.01462 Ether two days ago.  ( I suppose from BitDice)

BitDice Casino Quarterly Report: Q4 2017

Introduction
BitDice Casino’s quarterly report is a new communication tool aimed to provide CSNO token holders with up-to-date information about the company’s major developments and fiscal position.

Along with financial statements, the report will include forward-looking statements and analysis of the past events. It is deemed to increase the company’s transparency and provide token holders with a comforting sense of knowledge regarding the firm’s past, present and future business developments.

Milestones: Accomplishments and Omissions

Re-designing the website

https://i.imgur.com/pl137gi.jpg

We have started with re-designing the application’s front-end to give it an entirely new authentic look. It became clear to us that adding more games to the line of existing ones, as well as adding new payment methods will be hard to achieve without upgrading the face of the Casino. We have picked up the top web design studio on Behance and are having close communication with them and their illustrators while they are creating a masterpiece, unseen before in the world of online casinos. We want to get a revolutionary idea when it comes to design, and we will stand out from the rest of competitors. The front page development is still in progress, and the static look of it will not be able to express the depth of its animating details — but it looks awesome without a doubt. We would also like to get early feedback from our playing community regarding the new design, so we look forward to hearing from you on all our communication channels (telegram, website, etc.).

Started working on licensing

We have reviewed multiple options for getting the gambling license and decided in favor of Curacao. In our view, Curacao enables the fastest and smoothest way of obtaining the license in the first place to connect other gambling providers which we currently are unable to do. After being able to launch sports betting and the full range of new games with necessary licensing, we are planning to transfer the platform to Malta. We are aware of the trust issues of Curacao, but it remains the fastest and easiest way of establishing licensing presence for the games and for accepting fiat payment methods.

Fighting with faucet farming bots and bonus farmers

Many have noticed the drastic drop of online players from over a 100 down to 30s. Unfortunately, we were forced to disable the majority of employed bonuses as users exploited them. As a result, a big chunk of players, who were receiving the rewards and never contributed real deposits, has disappeared. As we constantly monitored the amount of wager with actual deposits vis-à-vis handout bonuses, we decided to re-assess the implementation of bonuses model, and the level system of players that became outdated due to significant growth of the cryptocurrencies value. We have created a new set of playing mechanics that we will be deploying and testing gradually starting this February.

Moving to Elixir

Our whole platform is written in Ruby language, and we use web socket connection for instant data transmission between player and platform. Although web socket allows for lightning-fast user experience, the Ruby language sets certain limits when it comes to scaling up operations. We have noticed, that the moment we reach 200–300 simultaneous players, the system starts to degrade significantly. To overcome the issue, almost a year ago we initiated first steps to move some parts of the platform engine to Elixir language. Today we’ve got about 60% of the code written in Elixir, and expect the rest to be moved by the end of the 3rd Quarter. The new solution will allow us to handle up to 10 000 simultaneous connections without hurting the platform’s performance. It will become crucial when the platform accommodates new payment methods, and the whole array of new games is introduced. For example, the top companies (William Hill, Bet365) already have their engines running in Erlang/Elixir: https://www.erlang-solutions.com/blog/programming-languages-for-online-betting-an-investigation-of-go-erlang-and-elixir.html


Financial Results Q4 2017

Profitability

In the fourth quarter (1 October — 31 December) of 2017, BitDice Casino earned a net profit of USD 2 161 193,69 or USD 0,02161 per CSNO token.

Net profit from operating activity amounted to USD 1 048 308.

Net realized profit from disposal of some cryptocurrency assets amounted to USD 1 112 885,81.

Distributable profit of 70% amounted to USD 1 512 835,58 or USD 0,01513 per CSNO token (Annualized Dividend Yield of 43,22%)

Product segment overview

A total of USD 206 822 510 was wagered throughout the fourth quarter, with the dice segment being traditionally the strongest, followed by Blackjack and slots.

https://i.imgur.com/o2mvaH8.png

Q4 2017 wager grew for all cryptocurrencies except BTC, which saw downtick due to abnormally high playing activity in the previous quarters. LiteCoin surprised to the upside due to gaining more traction among cryptocurrencies globally.

https://i.imgur.com/UrMLHAP.png

Average bet size also continued to growth in USD terms thanks to the appreciation of cryptocurrencies and higher risk appetite among players.

https://i.imgur.com/Rp40xw7.png

House total revenue reached USD 1 193 245, where USD 769 132 was attributed to Dice segment, USD 384 295 to Blackjack, and USD 39 818 to Slots.

In cryptocurrency terms the revenues for the fourth quarter stood as follow:

https://i.imgur.com/55iXCZT.png

Margin wise, the picture was somewhat volatile and deviated from our house edge benchmarks:

https://i.imgur.com/982chJ3.png

On average, Dice segment margin amounted to 0,41%, Blackjack 2,18%, and Slots 2,47%

Running Costs

In the fourth quarter of 2017, BitDice Casino incurred total costs of USD 144 937.

The majority of the cost was attributed to players bonuses payouts, team salaries and website re-designing:

https://i.imgur.com/CBCwN5k.png

Balance Sheet

At the end of the ICO, dated September 15, 2017, BitDice Casino raised a total of USD 8 748 793,00 in the following cryptocurrency assets:

https://i.imgur.com/pEIYroi.png

To minimize risk exposure to cryptocurrency assets and stick to the use of proceeds prescribed in the ICO material, BitDice Casino converted 60% of its crypto assets into USD at the end of the coin offering.

As a result, the fourth quarter began with the following assets sitting on BitDice Casino’s balance sheet, with total equivalent of USD 9 988 312,42:

https://i.imgur.com/mWBv2fB.png

By the end of the fourth quarter, BitDice Casino’s balance sheet appreciated by 90,83% and amounted to USD 19 060 684,10 in dollar equivalent, largely due to crypto currency gains across the board and a net operating income of USD 1 048 308.

https://i.imgur.com/38AjfnB.png

At the end of the fourth quarter, BitDice Casino cut exposure to some of its crypto currency assets to lock in capital gain of USD 1 112 885,81:

https://i.imgur.com/JbTHjsX.png

At the end of Q4 2017, Client deposits with BitDice Casino amounted to USD 454 060,31 and were as follows:

https://i.imgur.com/EcRKN6g.png

Distributable Profit

According to BitDice Casino profit distribution policy, every token holder that possesses a balance with value greater than 1 CSNO is entitled to receive quarterly dividend, 70% of the net profit earned pro rata its holding.

As a result of its Q4 2017 economic activity, BitDice Casino earned net operating profit in amount of USD 1 048 308 and net capital gain of USD 1 112 885,81 resulted from disposal of some of it LTC, IOTA and DOGE coins.

Effectively, the total profit of USD 2 161 193,69 is subject to 70% profit sharing among CSNO token holders.

Every token holder is entitled to receive USD 0,01513 per token (1,513 cents per token)

BitDice has made a snapshot of token holders as of Dec 31, 2017 and will distribute the dividends according to the list of CNSO token holders on Dec 31, 2017.


Plans for the Q1 2018

Finalizing the integration of the new API

We prioritize the integration of the new API over the rest of the tasks scheduled for Q1 to be able to expeditiously link all the new games provided by our game integrator. We expect the process to take up to three weeks to complete. Testing will take up a few more days, but ultimately by the end of February, we should be able to launch many new games at once.

Continue to move to Elixir Engine

We will be moving further with converting the platform to Elixir language. In this March, testing of the code is expected to be performed in a closed environment. The process of this transformation is slow and requires a big deal of attention to details. The transformation is extremely important to us for creating the new innovative products, and there are already some exciting ideas on real-time interaction with our players using this new technology.

Acquiring the Curacao License

In the upcoming quarter, we will start the process of acquiring the license, which hopefully will take no more than 4–8 weeks to complete. As soon the necessary paperwork is done, we will be opening banking accounts and connecting payment gateways for accepting fiat deposits. Opening up our platform to fiat players should drastically improve our position among competitors.

Implementing the new design

We expect the new design to be finished in March and deployed on the latest version of the platform running on Elixir. As soon as we move closer to a testing environment, we will start sending out invitations to our clients to try out the new look and share their feedback. Watch out for new announcements and screenshots as we progress and give us your thoughts.

Mobile App

We have decided to postpone the development of a mobile app until the engine of the platform is fully transformed, and the website has got a brand new design.

Roulette & BitAces

BitAces is likely to be added within the upcoming quarter while adding Roulette is highly unlikely due to increased work load related to Elixir transformation and implementation of the new design.

On-site Raffles

Raffles are in the pipeline to be implemented within this quarter on the current version of the website.


Blog Post: https://medium.com/@BitDice/bitdice-casino-quarterly-report-q4-2017-db7aed906a46


Kind regards,
The Team of BitDice Casino

Interested to see how this is developing. Anyone monitoring the player numbers on the site?

Yeah and no real big change from the past. The big news moving forward will be when they get a fiat licence.