man, selling it is dumbness, ask for donations, it's better, convince people to do that

Should be pretty clear once it's out and you can have a try hands on.
I for myself can't wait (beta testing just isn't the same).

It's Videopoker (which implies it's Player vs. Bankrolls).
There won't be any multiplayer option.

We're currently in the final testing stage. There's still a few minor fixes to be made, but it will be ready to go soon.

Hi fiscorcle, we will not release more information until we get closer to the launch date.

 

I did read what he wrote.  He also knows exactly how it would sound.

He was purposely trying to make it seem like it's worse off than it actually is.  He is an expert about equity and yet he is basing it off of results.

Dooglus isn't stupid.  He knows what he was doing.

Ledger uses a smartcard element that is proprietary so Ledger is not fully open source. Trezor has already stated they have no time for Monero ATM as they are working on getting Trezor 2 to market. Next to Ledger Jaxx has been making noise about integrating Monero but found it way more complicated than they expected, if they actually do they have the Ice Cube hardware wallet planned for early 2017.

I've updated the original post to hopefully clear up some of the questions asked in this thread.

The main changes are under the headers: Shares, Distribution, Dividends and Exit Strategy, posted below too.
I hope things are more clear now. Thanks to everyone who helped get the words out better and all the investors so far.

Feel free to ask anything else you still think is missing.


Shares:
BetKing will create 100,000,000 tokens (100 million) to to represent 100% shares of BetKing, currently owned fully by me.
No new tokens will be created.

30,000,000 (30%) of these tokens will be be sold to investors during the ICO period and distributed at the end of the fund raising period.

The remaining 70,000,000 (70%) will remain in the ownership of me as my 70% equity in BetKing.

The funds raised by selling these shares will be loaned by me interest free back to the company to use for expenses and bankroll.


Distribution:
ICO starts at December 1st 2016 at 0:00 UTC and ends at January 1st 2017 at 0:00 UTC.
After the ICO has ended, 30,000,000 shares will be distributed proportionately if the target of 2000 Bitcoin or more is raised.
E.g. if we collect 2000 BTC and your investment is 200 BTC, you'll receive 3,000,000 shares.

These shares will be added to your BetKing account where you will be able to trade with other members on the BetKing website.


Dividends:
We will pay dividends as a share of the total profit (revenue-expenses) generated by BetKing in Bitcoin directly to your BetKing account every 3 months if the total capital is greater than the 2000 Bitcoin loan.
You can withdraw your Bitcoin dividend payment instantly to your own wallet.
This may change to be more frequent, e.g. a month, after the first dividend payment.

For example:
Assume revenue from players losses were 300 Bitcoin in the first three months.
Imagine we paid 5 Bitcoin for fixed cost expenses, 10 Bitcoin on banner ads and 10 Bitcoin on developer contract.
After the 3 months we have 2000 (the initial loan) +300-5-10-10=2275.
275 profit.

So the investors from the ICO would get a dividend share of 82.5 (30% of 275) paid into their BetKing account.
I would be paid 192.5 (70%)

The business would have 2000 Bitcoin left in it from the intial loan.

Another example:
In 3 months players win 100 Bitcoin playing dice.
We paid 5 Bitcoin as fixed expenses (server, cloudflare etc).
We spent 10 Bitcoin on some banner ads.
We spent 10 Bitcoin on a contract developer.

After the 3 months we have 2000-100-5-10-10=1875.
-125 profit.

So there are no dividends to be paid as there was no profit in this time.

The business would have 1875 Bitcoin left in it and no dividends would be paid until this amount was over 2000 again.



Exit Strategy:
If BetKing were to be closed for any reason or lost market share to where it stopped generating profit then the initial loan would be paid back to me and then any extra funds left in the business not paid out as dividends yet would be split 30% to investors and 70% to me.
Any assets including the software could be sold and 30% of the sale price distributed to investors.

HOWEVER if BetKing was forced to close suddenly within 3 months of the ICO then all existing funds in the business at that point would be used to pay investors back as close to their full initial investment as possible before I took any share.

There’s also the possibility in future for BetKing to be acquired by a bigger company in which investors will share 30% of the total sale price after the initial loan is paid back to me.

In 2015, Bitfinex had $9.349 MM in revenue, 2.322 MM in expenses, and net income of $7.027 MM; in 2016 through July, they had $8.017 MM in revenue, $2.000 MM in expenses and a net income of $6.017 MM, which was on track to be roughly $10 MM in income for the year. (It looks like I may have previously gotten the last year and YTD through July figures mixed up).

On a YoY basis, both revenue, and net income have grown by double digits from last year.

If a potential investor wanted to buy equity in Bitfinex, they could purchase BFX tokens at a discount, and convert those BFX tokens into Bitfinex (or the entity that is actually selling shares on Bnktothefuture), giving an effective valuation of closer to $100 MM. If an investor wanted to buy a large amount of shares, does not already own BFX tokens, then their buying of BFX tokens would likely push up their effective valuation because the price of the BFX tokens would likely increase.

Bitfinex could potentially increase their revenue/income by introducing new products, for example, I have heard them talking about offering deliverable options, and new trading pairs that generates high trading volumes.

In regards to your valuation estimate, an appropriate valuation is a conclusion that needs to be made by an investor considering to invest.

the gui is likely already priced in
xmr is a nice project ,my only worry is so many other coins are coming to the party
with privacy features ......
hopefully the XMr network effect will be too strong.......

Have you thought about partnering up with someone who can do the marketing?  If it sparks interest let me know.  I am curious to see where the bidding goes to as well, I will be making my bid later on. I think this has the potential to make a good size profit.  Who currently works on the maintenance of it?  Also where is it hosted and how will you transfer the site?  Do you offer support making sure it is set up properly on a new server?

What the actual f Dooglus?  Blatant Libel?

You know very well that we don't take that much commission and you are intentionally misleading our customers and directly hurting us on purpose (70 Bitcoin withdrawn immediately after your comment).  

We take 20% of the house edge (less than Dean's 25% of house edge and 25% profit, or Bit-Dice's 30% of house edge), give 50% of the house edge to app owners (because there are multiple sites that investors connect to), and investors are subject to 30% of the house edge.