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Author Topic: www.gamebet.gg Launches GameBet Coin (GBT) eSports -- SALE OVER!!!  (Read 207112 times)
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edmundduke
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March 24, 2016, 07:23:23 AM
 #41

The site is still in development right, i was looking for the referral system but i did not see any mention about it on the site.



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wakhidNkcom
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March 24, 2016, 07:29:48 AM
 #42

I have to say that 10% of profits to investors really is the thing that puts me off. Even worse if that is not reached and it stays at 5%, it feels borderline retarder to invest into something with such terms.
I know very well how lucrative the esports/sports betting is and where it can go. Theres great potential there and you have some very solid ideas but the investment profit share is just a no.

So lets say the 100k is raised and lets say the initial profit for the site will be 5k$ per month.
User A invests 10000$ He would then have 10% of the profit you give to investors.
This means:
10% of 5k = 500$
10% of 500 = 50$

He would make 50$ that month, by investing 10000$. So for a breakeven he would need 10000/50 = 200 months aka 16.6 years.
Now for the sake of it, lets double it. You make 10k$ a month profit, then the investor would need 8.3 years for a breakeven.

I am keeping these numbers low because it will take a lot of time to get to the level where the volume will really start paying off. (i know it is possible but it takes a lot of time)

In the world of gambling that is an eternity and in the world of e-sports also.

P.S I also didn't find in what country is the company registered. Is it on the site somewhere i must have missed it. Because if it is not registered then there's a whole other level of risk as you might just get shut down for illegal gambling.

P.S.2 Correct me if im wrong, math aint my strong side.

Im not good at mathe but your numbers are correct I think. With your mathe someone who invest 10 thousand if only getting back 50 a month will only make 6% per year. That is not bad money if it was guaranteed. But your mathe forget to keep in mind that value is still in the coin. so someone can hold for a while and then sell. so its not like he loses his 10 thousand.

If the business does big because ESport is on the verge of blowing up it can do more then 5 thousand a month. if it staied with the same math the dev post that would mean just 50 thousand in bets for 5k a month. I think it can get more with good marketing and a good team.

and in the announcement for about the company it says "GameBet is an organization established to help the growth of eSports online gaming as well as promote the Bitcoin and Cryptocurrency industry. Officially registered in Costa Rica as a S.A. (Sociedad Anónima). The organization was registered through Marielos Meléndez J.D. LL.D. of Melendez and Bonzilla Law Firm.
"
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March 24, 2016, 07:30:10 AM
 #43

What is Algorithm: POS 3.0 ?? Huh
Anything diferent from POS 2.0?

2.0 + 1  Grin
edmundduke
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March 24, 2016, 07:45:49 AM
 #44

I have to say that 10% of profits to investors really is the thing that puts me off. Even worse if that is not reached and it stays at 5%, it feels borderline retarder to invest into something with such terms.
I know very well how lucrative the esports/sports betting is and where it can go. Theres great potential there and you have some very solid ideas but the investment profit share is just a no.

So lets say the 100k is raised and lets say the initial profit for the site will be 5k$ per month.
User A invests 10000$ He would then have 10% of the profit you give to investors.
This means:
10% of 5k = 500$
10% of 500 = 50$

He would make 50$ that month, by investing 10000$. So for a breakeven he would need 10000/50 = 200 months aka 16.6 years.
Now for the sake of it, lets double it. You make 10k$ a month profit, then the investor would need 8.3 years for a breakeven.

I am keeping these numbers low because it will take a lot of time to get to the level where the volume will really start paying off. (i know it is possible but it takes a lot of time)

In the world of gambling that is an eternity and in the world of e-sports also.

P.S I also didn't find in what country is the company registered. Is it on the site somewhere i must have missed it. Because if it is not registered then there's a whole other level of risk as you might just get shut down for illegal gambling.

P.S.2 Correct me if im wrong, math aint my strong side.

Im not good at mathe but your numbers are correct I think. With your mathe someone who invest 10 thousand if only getting back 50 a month will only make 6% per year. That is not bad money if it was guaranteed. But your mathe forget to keep in mind that value is still in the coin. so someone can hold for a while and then sell. so its not like he loses his 10 thousand.

If the business does big because ESport is on the verge of blowing up it can do more then 5 thousand a month. if it staied with the same math the dev post that would mean just 50 thousand in bets for 5k a month. I think it can get more with good marketing and a good team.

and in the announcement for about the company it says "GameBet is an organization established to help the growth of eSports online gaming as well as promote the Bitcoin and Cryptocurrency industry. Officially registered in Costa Rica as a S.A. (Sociedad Anónima). The organization was registered through Marielos Meléndez J.D. LL.D. of Melendez and Bonzilla Law Firm.
"

You are correct on the coin part, they also do/might hold some value. But that is dependent on how much the site makes.
By those calculations i made. You own 10% of the supply to investors. And you make 50$ a month.
This means you have 2.000.000 coins that make you 50$ a month (thats around 0.1203 BTC atm)
50/2000000 = 0.000025$
0.1203/2000000 = 0.00000006
That would be the earnings per month per coin it seems. There will be people ofc who will buy them (and calculate the initial cost of 10000$ into it also, but for that to happen it first needs to show it maintains a steady profit).

Oh i see the company was announced in the pre-announcement. Would be nice to have the registration code of the company there also so everyone could see that it really is registered.




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,   ██`    ██   ╫╫╫╫╫╬╦,
╔Ñ░¼   ██ ,,╓██   ╫╫╫╫╫╫╫╫╬╗
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"Ñ╫░░░░░░╫░░░░░░╫░░░░Ñw 
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Diversify your
portfolio with
precious metals
.
.
.


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██       ▀█▄▄█▀`      ██
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wakhidNkcom
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March 24, 2016, 07:58:16 AM
 #45

I have to say that 10% of profits to investors really is the thing that puts me off. Even worse if that is not reached and it stays at 5%, it feels borderline retarder to invest into something with such terms.
I know very well how lucrative the esports/sports betting is and where it can go. Theres great potential there and you have some very solid ideas but the investment profit share is just a no.

So lets say the 100k is raised and lets say the initial profit for the site will be 5k$ per month.
User A invests 10000$ He would then have 10% of the profit you give to investors.
This means:
10% of 5k = 500$
10% of 500 = 50$

He would make 50$ that month, by investing 10000$. So for a breakeven he would need 10000/50 = 200 months aka 16.6 years.
Now for the sake of it, lets double it. You make 10k$ a month profit, then the investor would need 8.3 years for a breakeven.

I am keeping these numbers low because it will take a lot of time to get to the level where the volume will really start paying off. (i know it is possible but it takes a lot of time)

In the world of gambling that is an eternity and in the world of e-sports also.

P.S I also didn't find in what country is the company registered. Is it on the site somewhere i must have missed it. Because if it is not registered then there's a whole other level of risk as you might just get shut down for illegal gambling.

P.S.2 Correct me if im wrong, math aint my strong side.

Im not good at mathe but your numbers are correct I think. With your mathe someone who invest 10 thousand if only getting back 50 a month will only make 6% per year. That is not bad money if it was guaranteed. But your mathe forget to keep in mind that value is still in the coin. so someone can hold for a while and then sell. so its not like he loses his 10 thousand.

If the business does big because ESport is on the verge of blowing up it can do more then 5 thousand a month. if it staied with the same math the dev post that would mean just 50 thousand in bets for 5k a month. I think it can get more with good marketing and a good team.

and in the announcement for about the company it says "GameBet is an organization established to help the growth of eSports online gaming as well as promote the Bitcoin and Cryptocurrency industry. Officially registered in Costa Rica as a S.A. (Sociedad Anónima). The organization was registered through Marielos Meléndez J.D. LL.D. of Melendez and Bonzilla Law Firm.
"

You are correct on the coin part, they also do/might hold some value. But that is dependent on how much the site makes.
By those calculations i made. You own 10% of the supply to investors. And you make 50$ a month.
This means you have 2.000.000 coins that make you 50$ a month (thats around 0.1203 BTC atm)
50/2000000 = 0.000025$
0.1203/2000000 = 0.00000006
That would be the earnings per month per coin it seems. There will be people ofc who will buy them (and calculate the initial cost of 10000$ into it also, but for that to happen it first needs to show it maintains a steady profit).

Oh i see the company was announced in the pre-announcement. Would be nice to have the registration code of the company there also so everyone could see that it really is registered.



Yes all investment are risky. I think possible to have big players in future who gamble big moneys on gamebet. If that happen coin will be worth much more. gambling sites can see 1 million in bets on a month, some even see 10 or 100 million on a month. I no hope for gamebet to do 10 million a month but if they do and they take in 10%  that is 1 million a month for the investors. that is a lot of money. if they do 1 million in a month and make 10% we still get to share 100 thousand. I think they can gro for 1million a month. not problem.
we are community, if we help it grow it grow, if we don't maybe it will stil grow maybe it will die.
I will see tomorrow bt I watch since other thread and I think I will invest a little. are you invest?

We can ask devs for see the company papers too. because it is gambling they may not show their name but maybe the company documents they can show to us.
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March 24, 2016, 08:19:57 AM
 #46

I have to say that 10% of profits to investors really is the thing that puts me off. Even worse if that is not reached and it stays at 5%, it feels borderline retarder to invest into something with such terms.
I know very well how lucrative the esports/sports betting is and where it can go. Theres great potential there and you have some very solid ideas but the investment profit share is just a no.

So lets say the 100k is raised and lets say the initial profit for the site will be 5k$ per month.
User A invests 10000$ He would then have 10% of the profit you give to investors.
This means:
10% of 5k = 500$
10% of 500 = 50$

He would make 50$ that month, by investing 10000$. So for a breakeven he would need 10000/50 = 200 months aka 16.6 years.
Now for the sake of it, lets double it. You make 10k$ a month profit, then the investor would need 8.3 years for a breakeven.

I am keeping these numbers low because it will take a lot of time to get to the level where the volume will really start paying off. (i know it is possible but it takes a lot of time)

In the world of gambling that is an eternity and in the world of e-sports also.

P.S I also didn't find in what country is the company registered. Is it on the site somewhere i must have missed it. Because if it is not registered then there's a whole other level of risk as you might just get shut down for illegal gambling.

P.S.2 Correct me if im wrong, math aint my strong side.

Im not good at mathe but your numbers are correct I think. With your mathe someone who invest 10 thousand if only getting back 50 a month will only make 6% per year. That is not bad money if it was guaranteed. But your mathe forget to keep in mind that value is still in the coin. so someone can hold for a while and then sell. so its not like he loses his 10 thousand.

If the business does big because ESport is on the verge of blowing up it can do more then 5 thousand a month. if it staied with the same math the dev post that would mean just 50 thousand in bets for 5k a month. I think it can get more with good marketing and a good team.

and in the announcement for about the company it says "GameBet is an organization established to help the growth of eSports online gaming as well as promote the Bitcoin and Cryptocurrency industry. Officially registered in Costa Rica as a S.A. (Sociedad Anónima). The organization was registered through Marielos Meléndez J.D. LL.D. of Melendez and Bonzilla Law Firm.
"

You are correct on the coin part, they also do/might hold some value. But that is dependent on how much the site makes.
By those calculations i made. You own 10% of the supply to investors. And you make 50$ a month.
This means you have 2.000.000 coins that make you 50$ a month (thats around 0.1203 BTC atm)
50/2000000 = 0.000025$
0.1203/2000000 = 0.00000006
That would be the earnings per month per coin it seems. There will be people ofc who will buy them (and calculate the initial cost of 10000$ into it also, but for that to happen it first needs to show it maintains a steady profit).

Oh i see the company was announced in the pre-announcement. Would be nice to have the registration code of the company there also so everyone could see that it really is registered.




I look at alot of altcoin markets (assets, etc) and I cant find a good example of a solid 50$ per month divined just for holding coins,
whats most appealing to me about this is the fact that I can use the site, refer users, and buy into their coin, all of which earn me money...

it seems to good to be true actually, if you look at other gambling operations inside the gaming world you realize theres a massive profit margin (more than 50$ a month haha)

I'm still not sure about holding the coin, will it be used for anything on the site?




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March 24, 2016, 09:00:30 AM
 #47

An ICO with a working business model made BEFORE fundraising...
I don't believe I've ever had the pleasure of witnessing this before.
Hopefully something comes of this project, I will keep my eyes on it.

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March 24, 2016, 09:29:21 AM
 #48

Had a skim through and on the face of it, it looks like a project I would like to be in due to the fact I'm an avid gamer for long time. Breaking into to esports when it is just getting started will be very big indeed. Over breakfast in the morning I will go over with a fine tooth comb the thread and site.
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March 24, 2016, 09:47:17 AM
 #49

I look at alot of altcoin markets (assets, etc) and I cant find a good example of a solid 50$ per month divined just for holding coins,
whats most appealing to me about this is the fact that I can use the site, refer users, and buy into their coin, all of which earn me money...

it seems to good to be true actually, if you look at other gambling operations inside the gaming world you realize theres a massive profit margin (more than 50$ a month haha)

I'm still not sure about holding the coin, will it be used for anything on the site?

Rubies for example uses a similar model. Only they give 80% to the investors + the coins. Easily over 50$ a month with x5 less invested.
Poloniex for example. Average loan rates on your BTC are around 0.15% a day for slow weeks. Up to 2% on pump days.
(so 10k$ - 25BTC @0.15% would make you around 0.0375BTC a day = 1.125BTC a month. (this is pretty much the minimum a month)
So you are looking at 50$ a month versus ~400$,

That 50$ a month was just to show what happened if a user invested 10k$ and the site made 5k profit. There is no telling how it will actually go down. Esports betting sites can be very successful for sure but right now the idea is:

The company is made
Company makes the site
Investors fund pretty much everything
Investors risk everything
Company gains 90% of the profits (up to 95%)
Investors who risk everything gain 10% (if it goes bad 5% a month)

Im sure some might find it appealing. I wish you all the best in the the launch but i fear with the current level of greed it will be hard to fund it to those levels.



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March 24, 2016, 09:53:53 AM
 #50

I wish you all the best in the the launch but i fear with the current level of greed it will be hard to fund it to those levels.

The greed is shared by irrational people who are going to throw their money at it regardless. You see it nonstop:

1) People 'invest' (technically gamble) in an overpriced/worthless company
2) They cry scam when it doesn't ROI or flat-out runs with money
3) They find another just like it and give it a go
4) The cycle continues indefinitely

This wouldn't happen with fiat because it's regulated. As long as crypto is unregulated and people are stupid, it's never going to end.

I'm in no way saying this CAN'T ROI, but from the perspective of someone who ACTUALLY does investments (both crypto and fiat), it's a high-risk, low-reward gamble.

If they were to drop the valuation by 90% (to 100k), it'd still be overpriced but at least it would be considered as a true investment (albeit a speculative one). As it stands, it's no different than throwing money into a random casino and hoping for the best.


 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




















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March 24, 2016, 10:08:40 AM
 #51

I look at alot of altcoin markets (assets, etc) and I cant find a good example of a solid 50$ per month divined just for holding coins,
whats most appealing to me about this is the fact that I can use the site, refer users, and buy into their coin, all of which earn me money...

it seems to good to be true actually, if you look at other gambling operations inside the gaming world you realize theres a massive profit margin (more than 50$ a month haha)

I'm still not sure about holding the coin, will it be used for anything on the site?

Rubies for example uses a similar model. Only they give 80% to the investors + the coins. Easily over 50$ a month with x5 less invested.
Poloniex for example. Average loan rates on your BTC are around 0.15% a day for slow weeks. Up to 2% on pump days.
(so 10k$ - 25BTC @0.15% would make you around 0.0375BTC a day = 1.125BTC a month. (this is pretty much the minimum a month)
So you are looking at 50$ a month versus ~400$,

That 50$ a month was just to show what happened if a user invested 10k$ and the site made 5k profit. There is no telling how it will actually go down. Esports betting sites can be very successful for sure but right now the idea is:

The company is made
Company makes the site
Investors fund pretty much everything
Investors risk everything
Company gains 90% of the profits (up to 95%)
Investors who risk everything gain 10% (if it goes bad 5% a month)

Im sure some might find it appealing. I wish you all the best in the the launch but i fear with the current level of greed it will be hard to fund it to those levels.

You are absolutely right.

The idea of this coin is great, but the distibution of profit is horrible compared to other available models.

I would suggest that you should rethink the profit sharing method of the whole process or tweak percentages at least.

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March 24, 2016, 05:49:00 PM
 #52

I dont think they are asking for too much. They are wiling to give up a cut of thier profit forever.
I'll be investing tonight.
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March 24, 2016, 06:50:52 PM
 #53

I dont think they are asking for too much. They are wiling to give up a cut of thier profit forever.
I'll be investing tonight.

I am in the same boat. The way i see it is this has a good chance to be huge with esports betting and future casino. If all investors roi and are still paid into the future it has created winners no? Investors will be paid forever like you said whats to hate. Maybe the valuation can be tweeked but then again maybe it could have been undervalued this time next year.

And sometimes a woMAN.................
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March 24, 2016, 08:50:08 PM
 #54

The one thing that sets this apart from any other ico IMO is the fact that it's ready to go online (looks a little shitty, needs polish) with mutliple layers of earnings possible from what ive seen, between holding ico coins, refering users and depositing my steam items, its kind of surprising to me that you would give up so much of your profit, assuming the numbers on the OP are anywhere near to correct, just holding the coins will pay me an income if the website takes off... Personally I use a lot of other gambling sites and this one takes the cake for crypto and steam item betting on esports...


to say this is the same as throwing money at a casino is a bit much, if this IS a scam of some sort it has to he the most overproduced scam of all time, they have a high quality video, a working gambling site and functional steam marketplace that sells and buys games, items etc no one else wants.... this is a crazy cool product if its marketed correctly! im buying in tonight.

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March 24, 2016, 09:03:56 PM
 #55

Not sure what to make of this waited a day or two and kept eyes on it.

A lot of people make very valid points about the valuation, would like to hear from the devs on that before I buy in.

The prospect of making $50 a month is not overly appealing, but $500 a month sounds a lot better.

I don't know if I'm going to buy yet, will wait to see what happens.


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EpyxZ
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March 24, 2016, 09:07:16 PM
 #56

IS THIS LEGIT?? WE NEED SOMETHING LIKE THIS.
sorry for caps, devs, show us your main address so we can see the total invested. also, some real life info would be nice, so we have a face to the $$ we are putting in. otherwise, good luck with your scam

This is legit, as you can tell by the working site. If you wish to see the addresses, you must sign in, click invest and then click on the big red box that says "ledger".

Sorry had to lol @ the "This is legit, as you can tell by the working site".

I am sorry to say that your entire response

Quote
This is legit, as you can tell by the working site. If you wish to see the addresses, you must sign in, click invest and then click on the big red box that says "ledger".

To one that has not registered this comment makes me feel like register, invest then you can see the ledger.
Could be good. But have to say looking at the page from 3/4 people in my home are wtf is this. what we betting on.
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March 24, 2016, 09:14:21 PM
 #57

What happens when someone clones the idea and offers investers higher % and goes transparent concerning their real id?

Need to know the real people behind this and either have higher % or value venture at 250k atm

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March 24, 2016, 09:28:15 PM
 #58

What happens when someone clones the idea and offers investers higher % and goes transparent concerning their real id?

Need to know the real people behind this and either have higher % or value venture at 250k atm


I think gamebet is already ahead in this game. They have a functioning site, looks like a real team of developers and some real partners. I think others can try to clone this, think pepsi and coke, or mcdonalds and burger king. There will be enough room for a few players in this relm. Id invest in others too if I saw they had a chance of coming out on top. I just invested. I dont see much of a down side with this investment plan.
I hold my coins and own them, they can stake and earn me more coins and once every 3 months gamebet will make a payment to me.

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March 24, 2016, 09:57:11 PM
 #59

I wish you all the best in the the launch but i fear with the current level of greed it will be hard to fund it to those levels.

The greed is shared by irrational people who are going to throw their money at it regardless. You see it nonstop:

1) People 'invest' (technically gamble) in an overpriced/worthless company
2) They cry scam when it doesn't ROI or flat-out runs with money
3) They find another just like it and give it a go
4) The cycle continues indefinitely

This wouldn't happen with fiat because it's regulated. As long as crypto is unregulated and people are stupid, it's never going to end.

I'm in no way saying this CAN'T ROI, but from the perspective of someone who ACTUALLY does investments (both crypto and fiat), it's a high-risk, low-reward gamble.

If they were to drop the valuation by 90% (to 100k), it'd still be overpriced but at least it would be considered as a true investment (albeit a speculative one). As it stands, it's no different than throwing money into a random casino and hoping for the best.


I don't think you actually invest IRL, if you did you would see how insane your numbers actually are right there.
Can you please provide me a link to another coin that had not one, not two, but three fully working business models behind it
BEFORE a single cent was raised? before a single coin released? no? I didn't think so.

That was the selling point for me, most ICO's now days beg for money and make lofty promises, these guys
have a functioning business, and are willing to part with their profits to raise funds for their immediate needs.

I had a look over their website... It's actually pretty fuckin fancy to be honest. It has a steam marketplace, 2FA built in, I can log in with steam...
The whole concept and site feels like it took ages to make and that craftsmanship is obvious in this thread and their approach to ICO...

Well maybe I'm just defensive because I'm an investor now, but if you had told me a week ago that I could spend a few hundred now and make thousands per month later
I wouldn't believe you, I would tell you that no such business model exists, and then I found this.


Time will tell if this product goes anywhere but ESPORTS is a massive industry with nothing but growth, so there's nowhere to go but UP!

In the meantime it would be cool to get on a slack or discord with the devs, any plans guys? also whens the coin coming out?

What happens when someone clones the idea and offers investers higher % and goes transparent concerning their real id?

Need to know the real people behind this and either have higher % or value venture at 250k atm



Have you used the website? I don't think there's a huge risk of it being cloned within a reasonable amount of time, and first-mover advantage is big in this space.
I would like to know the real people behind it also, but I can see why they are hiding, this business model is quite illegal.

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March 24, 2016, 10:02:36 PM
 #60

Just a few questions I have after talking with a friend on the forum.



Do you have a business plan?

Where and how exactly are you going to use that investment to make sure we get a return, is there an insurance available to make sure that our investment will be safe?

Are you legally licensed to run a gambling business where jurisdiction applies?

For instance,  you chose Costa Rica as your base of operations, however Costa Rican laws regarding online gambling basically revolve around those that live there can't do it but if you want to run your business there you don't even need to have a license to do so as long as you have an office located there.

I think you are still prohibited to market your gambling sites to residents of the United Kingdom which, if you follow the law, will take a large percentage of your potential business off the line and out of reach.

Please answer these questions. I was thinking of investing more but until I get some answers for these questions I will need to wait.



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