1) BitDice did not raise 3232 BTC which I've been trying to say in atleast 3 replies by now. Joksim meant USD values of cryptocurrencies in his post. If you think really carefully, do you think BitDice raised 0.00009 Doge. Because by your logic, that's what Joksim's post would mean.

2) If cryptocurrencies that were received in the sale generated profit, it would be paid in dividends AFTER the profits were realized eg. when the cryptocurrencies were sold for USD.

Cryptocurrencies have not been sold after some was initially sold for USD right after the ICO. Thus no cryptocurrency sales have realized profit.

Now, please read the reply carefully so that you finally understand.

^ Facepalm

Once again, those values represent the USD values of the cryptocurrencies at the time of the sale. They do NOT represent the amounts in cryptocurrency.

So there's no further misunderstandings, it means 3231.8 USD per Bitcoin, NOT 3231 BTC.

Arguing is impossible if there's a lack of understanding in the simplest things.

No problem. I have no doubts that BitDice can come out well ahead in all this.

We're currently working on the release of the new website. A new quarterly report should be coming within the next few days aswell.

I believe Joksim's claim relies on 3 key points he has been trying to make.

1) CSNO Token has lost value

Okay, the token has lost value, true but he is taking his numbers from sources that aren't reliable. BitDice does not reach high trading volumes and thus any estimation given by Etherscan is likely to be wrong. Secondly as it was stated, BitDice buys tokens back from those who wish to sell them at a relatively good price atleast comparing to the estimations Joksim has been making.

2) The money that was invested has been "wasted" or some of it has disappeared

As my last reply states, much of the assumptions that have been made by people have not been thought through and are simply speculation and the money is still there.

3) BitDice has not been delivering its promises

This is probably the most notable one as it's clear BitDice hasn't yet been able to deliver many of the initial promises that have been made. We have addressed that fact and have also stated that the new website is in the final stage of development. In other words, promises have been delayed a lot which is not something we're hiding. But we're working on delivering on those promises.

Joksim is trying to make a case about how the money that has already been spent has gone into vain which he keeps repeating. One doesn't have to look farther than the quarterly reports to see what the money has been spent on. The expenses haven't been directed at something specific only but on the entire project. I don't understand half of the gimmicks it takes to run a casino let alone something that aims to serve fiat users. I am fairly sure Joksim doesn't understand exactly how complex everything is to set up either.

So to simplify: the money that has been spent has not gone into nothing. It's an ongoing progress and despite seemingly static, it is definitely not.

We've been trying to explain that the promises that have yet to be delivered are going to be delivered despite the long delays.

Now my conclusion about this scam accusation is that its aim is to make BitDice lose its reputation. Question is: what's the gain from this?

I would expect you of all people to be more careful. You took that 1292 BTC amount from Joksim's earlier reply where it represented the USD price of bitcoin at the time of the ICO I believe...

This was the balance sheet as shown on Q2 2019 quarterly report: https://medium.com/@BitDice/bitdice-casino-quarterly-report-q2-2019-part-1-ecc9567b43f6?source=---------5------------------



I believe it's a decent representation of the current balance sheet. I believe what was not sold for fiat after the ICO has been held firmly in crypto and thus not realized any profits or losses from crypto sales.

Now, you also said Alex closed the threads... he did not. As you would know if you had read my previous reply. That matter is completely unrelated to this entire fiasco.

We had an old rule in our signature campaign thread about posting on bitdice ann but that isn't enforced anymore. I believe someone reported the signature campaign post and now due to that, the threads are locked.

EDIT: So in effect, nothing is lost as everyone keeps thinking. Investors have not magically lost everything considering the buyback and also work being put into releasing the new website and all other plans. Thus, the investors are still eligible for the dividends just as before. Although Joksim claims the value of dividends is zero, you can't just go ahead claiming the casino has completely screwed the investors over just because the casino hasn't delivered the promises yet (but is working on them). Also accounting for the fact that anyone can also sell the tokens as was said in the reply I posted before.

EDIT2:

TL;DR

1292 BTC is a wrong figure taken out of the wrong number
(Yahoo mentioned the 1292 BTC figure)

BitDice or Alex did NOT close the BitDice OP thread

I am posting this answer on behalf of the management:

---

This answer to several ignorant allegations is going to be solitary and final. Please be acknowledged that further communications will be held solely in the form of quarterly reports.

To begin with, as it has been clearly stated before, CSNO is a dividend token. That means the token holder is entitled to receive a share of Casino's profit. That's it, period.

Nevertheless, to dispel the unfounded accusations, please see below.

The initial price has been $8.4m/100m tokens = $0.084 per token.

With the buyback program running on the website, one can instantly sell CSNO approximately at 50% of the ICO price.

Sure enough, it is a remarkable upshot taking into consideration more than two years passed since tokens were issued.

Should one decide to dig deeper into BitDice financial matters, they are very welcomed to scrutinize the Quarterly reports, which are published on Medium.

As for the BitDice development pace,  the team admits that the buildout period has been significantly more than it has been initially planned and announced.

Due to business nature, it was hard to predict all the obstacles that had arisen. It's almost impossible to open a bank account for crypto-related companies in the EU, not to mention gambling as business activity. As an example, attempts to fix an agreement with Wirecard related to fiat payments processing took almost a year and finally ended in vain due to circumstances that were out of the team's control.

Moreover, at one point it has been decided to cease certain activities until the launch of the new website, which is currently under the final stage of development.

---

I've not received any reason behind those threads being locked. It was not done by us.

EDIT: I just got info that a response from the higher ups is going to be prepared to this thread

You're the one spilling nonsense here. It's a dividend token. Token holders are paid dividends from profits to the ethereum addresses they hold their CSNO in. You don't realize your profits by selling the tokens. That's not how a dividend token works.

CSNO token is NOT a share.

EDIT: May I add, markets determine the price of the CSNO tokens on the exchanges it's being traded on. Thus if BitDice performs well, obviously the token price can reflect that but you can't calculate the token price by how much bitdice has profited or lost. Not sure where that idea even came from...

EDIT2:

It says in the whitepaper: "BitDice Casino is issuing  100 000 000 (one hundred million)  CSNO tokens,  70%  of which will be offered to the public and entitle for  70% of BitDice Casino’s net profit."

That 70% of BitDice's net profit is shared each quarter based on that specific quarter's performance.

Money was collected in BTC, ETH and some other alts. I think the total amount was somewhere between 8.5 and 10 million.

A part of the cryptocurrencies was sold for fiat and rest was was kept in cryptos. I believe something like 4 million was converted into fiat according to the quarterly reports.

I haven't heard of any forked coins being claimed.

The issue is that the token price is not tied to the amount invested other than the fact that it determined the initial price per token at the time of the sale. It was never supposed to be, it's a dividend token which means token holders are and will be entitled to a part of the site profit, that's it. Of course the fact that BitDice is still working on those promises and which is also holding back things like marketing, the returns for investors so far haven't been so good but investors are still entitled to the same exact things they were entitled to after the ICO.

I would personally just hope for patience while the new site is being finished. I know it's late but BitDice hasn't lost it's future potential despite the new website and promises being fulfilled late.

BitDice hasn't added all of those games yet but that doesn't mean it won't happen in the future. The new site is the priority at the moment and on the new site those features will be added. Yes, it's delayed as I've said but that doesn't mean the promises were just swept under the rug.

Yes, I believe it's silly to accuse of being a scam when a response has been given about how the things that the complaint is about are being worked on. Scam would be if there was no effort being put into anything and everything is simply being left as it is. Then again, maybe my definition of a scam is different than yours.

He is aware of the thread. I believe the biggest issue is that there's not been updates on the site. I've tried to explain that it's being worked currently and the new release is getting pretty close although there's still work to do.

This speculation is just that... speculation and I doubt it's going to change until there's a new release. Of course this is my personal opinion so feel free to disagree. As I've mentioned in multiple occasions, nobody is hiding the fact that there's been delays. I find it pretty silly to call the site a scam while things are being worked on. Right now it feels more like pressuring the site to rush out a release just for the sake of it.

I have personally seen what kind of progress has been made (for example how the new design is going to look like) but if people don't believe that, I'm unsure what else to say. The upcoming quarterly report should contain information and possibly concrete evidence of what has been done.

I think your logic is quite flawed in my personal opinion. The token price is down, sure but it's a dividend token which means the investors are still entitled to part of future profits which are estimated to get better after the new website is ready and marketing kicks off. I'm not even sure it's worth arguing with you at this point considering how you seem to think the token price somehow reflects that the invested money has been lost. Spoiler alert: It has not been lost. Most of what was invested was sold for fiat to avoid potential issues if crypto plummets. What wasn't sold has been mostly put into the bankroll.

Your points would make sense if there was somehow nothing left of the invested amount but as you can see from the quarterly reports, that's not the case.

The profit sharing falls pretty far out of my area of expertise.

Legal expenses aren't something that falls within my area of expertise.

And as I've said, there has been delays but the new website is getting closer and closer. I'll leave details to the reports.

There's been a bunch of speculation going on in the BitDice thread (https://bitcointalk.org/index.php?topic=1700658.new;topicseen#new).

I've done my best to address the questions I have answers for. I've seen signs of progress myself of the upcoming site update and can say that progress is being made although it's obviously not visible on the website. I've been told there might be some information about the progress that has been made on the upcoming quarterly report.

Joksim has been one of the people participating in the speculation on the aforementioned thread. The people participating in the speculation seem to, for the most part, be ignoring all of my answers as well as always coming up with a new question without addressing my responses.

As I've said multiple times already, the management is not hiding the fact that things have been delayed. I think that's pretty clear. As I've said, there's work being done and results should be visible sooner or later. Nobody has abandoned the project.

BitDice would be a good choice due to the long track record and no issues with paying out big winnings. We've got sports, provably fair dice and blackjack etc. On top of that some third-party provider games.

We have a live chat incase there's any issues or questions.

I believe more providers should be added on the updated platform. I'll bring it up when it's relevant.

Well I think he makes a good point.