Then it seems that you have quite a racket going.
Betking will be taking the cumulative investors' profit to buyback tokens, reducing the bankroll, then Betking alone will be accumulating profits on those tokens to infinity with no benefit to remaining token holders.
Eventually, Betking will have purchased the majority of tokens back with investors' money (Bankroll profits) - in essence diluting remaining token holders since Betking retains the re-purchased tokens and earns all future profits on those tokens. Sounds like it's good to be Dean / Betking.
If I'm misunderstanding, please let me know.
I'm buying tokens back with my own profit, the 30 million tokens I keep from the ICO. There's not going to be any significant reduction in bankroll, max 10% every 3 months. Yes I will then be making a profit on the tokens I hold, the ones not being sold plus the ones I buy back, that's pretty normal and how most businesses work. Remaining token holders have the benefit that their tokens have much more value the longer they hold them. They can choose to never sell them back to me for many years or if the site was to be sold. There's no dilution going on at all. Thank you for this answer. Please hear me out on this, and hopefully this explains what I mean and hopefully a better situation for all. Hypothetical: Money Raised: $10,000,000 70% Bankroll: $ 7,000,000 30% BetKing: $ 3,000,000 Price per token: $10,000,000/70,000,000 = $0.14 ~snip This has been bugging me since I raised a similar question. Dean answered here. Remaining Investor tokens outstanding: 71,000,000 - 7,100,000 = 63,900,000
Value of token after buyback as proposed: $6,470,500 / 100,000,000 = 0.064705
(this is where the dilution comes into play, although not a typical dilution as in the stock market) - Q2 would need to overcome the deficit just to break even. Go back one step: right after the ICO, the price in your example was $0.14 per Token. Now use the same math you use above: $7 million bankroll divided by 100 million Tokens puts the value at $0.07, while you paid $0.14. The difference is of course the fact that there's more than the bankroll to give value to BetKing, just like "normal" company shares are worth more than just the cash owned by the company. |
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Note: I've never used BitMixer so I won't miss it's services. One of the reasons for not using it is that the coins I get back are most likely from someone who's trying to hide worse things than me  When you used Bitmixer, they would give you a "Letter of Guarantee" (mentioned here) so that you could prove that you sent funds to their site (signed message from their address + signed message from you = proof). If the authorities came knocking, you could just prove to them that you sent your funds to Bitmixer, and therefore that the tied coins were not yours. I've seen it, but I don't think it proves anything as it still requires the authorities to believe BitMixer is honest. For the deposit, it certainly doesn't require that. The point is for them to sign a message proving that the address you're sending to is owned by Bitmixer. So as for the funds coming back to you, you can sign a message proving that you own the address that received a transaction of the same amount you send to Bitmixer, if that makes sense. After that, the authorities can either believe a mixture of cryptographic proof and completely obvious reasoning, believe that Bitmixer stole your money and you just mysteriously received a transaction from a criminal at that time, or believe that you own Bitmixer. I'd say the former one is the only logical way that they could go. I doubt a judge would believe evidence created by the anonymous website that you claim laundered your money into coins wanted for something you claim you didn't do.
I don't see why not if you provide evidence that Bitcoin's signed message system is sound and you verify Bitmixer's signature. Let's put it this way: BitMixer can sign a message now, claiming the address in my profile is their deposit address. The problem is not with Bitcoin's signatures, the problem is with having to trust BitMixer on this. Of course BitMixer wouldn't do this in the past, as it gives me enough to destroy their reputation. But now that they've closed their business, what stops them from giving out signatures at request to be used at lawsuits from big money launderers? If I go full paranoid, this could even have been a reason to close the site: save someone who's being charged with something. My point is: this signature isn't worth anything for a judge. |
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Note: I've never used BitMixer so I won't miss it's services. One of the reasons for not using it is that the coins I get back are most likely from someone who's trying to hide worse things than me When you used Bitmixer, they would give you a "Letter of Guarantee" (mentioned here) so that you could prove that you sent funds to their site (signed message from their address + signed message from you = proof). If the authorities came knocking, you could just prove to them that you sent your funds to Bitmixer, and therefore that the tied coins were not yours. I've seen it, but I don't think it proves anything as it still requires the authorities to believe BitMixer is honest. I doubt a judge would believe evidence created by the anonymous website that you claim laundered your money into coins wanted for something you claim you didn't do. |
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I've cleaned up this thread a bit, to keep it compact. How is it possible to know which is the price trend of GBB vs GB? We know from Slack the market prices of today, but how to understand the trend? Nobody has collected historic data of price relation?
Check this: Byteballs ::: Buying & Selling & Trading.
In short, the value of GBYTE went up when Bittrex added it, GBB lacks behind as it's difficult to trade. Say from 1 GBYTE = 6 GBB to now more like 60 GBB.
I'm still working on my trading thread, but it's not really a priority and won't replace the need for an exchange.Question: AFAIU, for BlackByte transactions you need to pay fees in Bytes (not black). Does it not compromise anonymity of the Blackbyte transaction? that is, is it not possible to see where the fee is coming from?
You can see which address paid a fee to transfer a private asset. You can't see which private asset that is, or where it was sent.
From the Whitepaper:Note that spend proof for issue transaction does not include any blinding factor. As such it is possible to learn that a coin was issued, but the recipient of the coin is still hidden from third parties. Also, for transfer transactions, since the payer knows the blinding factor, he can calculate the spend proof that’ll be published when the coin is spent. This means that he can know when the payee spends the coin, but he will not see the recipient(s) nor the new blinding factor(s) – and hence will not be able to track the coin any further.
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PS, can you update us on the gamble we took, pay date is getting closer, also please advise if you want to continue with next airdrops?! Price when I sold on July 9: 0.23551 BTC per GBYTE. Price now: 0.2000 BTC per GBYTE. So far, it's a lot lower than it was a month ago on it's way to the previous airdrop. I can only guess what the reason is: more people selling, or "just" the massive drops in most/all altcoins hitting Byteball too? I did pick the date "25 days later" because in previous months that seemed to be close to the peak. I still expect it to go up. If enough people think that way though, it might influence the results. With August 1 coming up, I don't dare tell you what to do next time. Your guess is as good (or bad) as mine. |
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So basically, if I have 100 Byteball (GByte) on the time of the snapshot? I will receive 20 Gbyte more on that address? Is that correct?
Correct. And 42 GBB if you link your address. |
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Let me explain why.
Is this the real reason, or is there some pressure from government(s) to close the service, or even keep records of transactions? I didn't expect this, especially since I've seen Bitmixer's sig campaign up to the last second. From your own site: “I believe that any violation of privacy is nothing good.” - Lech Walesa Are you guys now targeted by the law enforcement authorities or is it just your opinion?
My thoughs exactly! I am almost certain that this is government pressure, but you obviously can't admit to that for the same reason.
All the more reason for new mixers to remain anonymous. That makes it harder to trust a site, but if the mixer is completely anonymous, they can't be targeted. It is important that you understand my position. I really revised my view about Bitcoin as a transparent system. Bitcoin has no future with drug/weapon traffic or any other illegal activity. This is my point.
So you're saying you care so much for Bitcoin, you're willing to close your business? That's cute  Everything on earth is used for illegal purposes, whether it's Bitcoin or dollars, guns or cars. Closing your mixer is not going to change that. Hi all!
Despite the huge profit we earn, we are closing our activity. Let me explain why.
Be honest: What logs have you kept, for how long and with what countries law enforcement do you cooperate? If that would be the reason, they wouldn't close their business. Note: I've never used BitMixer so I won't miss it's services. One of the reasons for not using it is that the coins I get back are most likely from someone who's trying to hide worse things than me |
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I can certainly help out... and rest assured, your coins are not lost  Do you know what address your Bitcoins started on? Search the address on https://blockchain.info/ , see if they're still in that address, or that you moved them again. If they're in the first address, one way or another your seed phrase should be able to recover them. |
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I just found out Bittrex closed Bitcoin deposits and withdrawals: The wallet will remain closed until the majority hash power chain is clearly established. Trading will remain active during this time. Since Bittrex is the main exchange for trading GBYTE, I expect this to influence the price development. Buyers without coins on Bittrex will now have to deposit and sell altcoins before they can buy Byteball on Bittrex.UPDATEThey enabled it again, they now require 6 confirmations to deposit Bitcoin. |
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I didn't get it. If the bitcoin wallets are completely closed, how are people buying and selling altcoins now? If they have tokens, they can sell which is okay, but how about buying them without btc? I don't think they do it with ETH.
Bitcoin balances on Bittrex can be used normally. |
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Could translators update their threads please?
Done for Dutch. |
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Media PublicatiesAls je een media website of service hebt, kan je Tokens verdienen met het schrijven van artikelen of creëren van video's over de BetKing ICO. Bijvoorbeeld op populaire nieuws of media websites zoals Coindesk, Forbes of andere cryptovaluta of financieel georiënteerde sites. Afhankelijk van de inhoud, het publiek en de website waar je op post, krijgt je post een rang. De rang bepaalt hoeveel stakes je krijgt. Meld je aan door een email te sturen aan admin@betking.io, en vermeld op welke website je gaat posten. Dit onderdeel is vervallen bij gebrek aan deelnemers. Hiervoor in de plaats komen premies voor het melden van bugs. |
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I had to try  Now it says: "Betting is disabled on account", I was hoping to get the option to enable it again. If it's permanent, it would be nice to see a message telling me it's permanent before disabling betting. Apart from this, I didn't find anything weird in the new updates. |
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You will just have to wait until their wallet is functioning, they have wallet maintenances regularly I assume this is the reason why its currently not working?
Bittrex had notification to user on their twitter about frozen function send/receive Bitcoin when BIP91 lock-in, you can read more in this tweet: https://twitter.com/BittrexExchange/status/888944809355788288They could and should have announced that on their own website, in such a way that you can't miss it when you visit their site. Who checks random third-party websites to see if they have something to say? |
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I know but i dont have any bitcoin to buy any other altcoins. I wanted to buy Btc at coinbase and send them to bittrex but i cannot do that now
You could use shapeshift.io , they seem to be still accepting Bitcoin transactions. It will cost you another percentage though. |
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Bittrex: Read their Statement in the link. You can just use normal trading and deposit/withdraw any altcoin during these times. |
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You can always look at it this way: Those who cheat to get free BSD will have nothing but good things to say about it.
You seem like quite the optimist. I call it the way I see it. Any publicity is good publicity. You guys are doing what it takes to create a base. I think it will work out very well in long run. [quote fixed] Cheaters don't give publicity, cheaters take an unfair share. Having more actual users creates a larger user base, which creates a higher value. "Fake" users don't help there. Suppose one cheater would get all coins, that means the coin dies. |
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Catwalks: OOPS, I used my middle mouse on delete instead of on quote, and without asking confirmation your post is gone Please post again! "GBYTE" was taken by me already, so pick another one please. Bitcointalk name: LightZ
Altcoin I choose: Any
I will pay 0.01 BTC once 10 people joined: Yes
After 10 months, return my 10% to: 1KUZ6SRviH9YsoPHfJj7Xugo81wC7KiWrS
"Any" is not an altcoin, you'll have to pick one by yourself. |
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As far as I know, he was never banned. It might be Mods didn't see my thread, or it might be Legendary users get away with more indeed. I still think he deserves a perm ban for stealing my text though. But, this is totally offtopic in a thread that started about your own ban. |
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I have a question concerning the current high value of a BTC. I talk a lot with friends who don't know much about BTC and try to convince them to buy some too.
Why would you try to convince them? If Bitcoin drops, they'll blame you. You can give information, tell them where to find more information, but I would never give investment advice to friends. |
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