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Author Topic: www.gamebet.gg Launches GameBet Coin (GBT) eSports -- SALE OVER!!!  (Read 207298 times)
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ranlo
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April 05, 2016, 06:58:24 PM
 #501

you said earlier in thew thread that sometimes you like taking risks on investments like this. I think you should stand by your earlier word and pick up some gbt because i doubt this coin is ever going to be cheap. Im not selling any and the ones I did buy iI have a 24 month plan with. I'll be holding ling time.

I take investment risks. I don't gamble. This is no different than a slot machine right now -- you're playing with a -EV situation. That's not how you make money, it's how you lose it. At a value of 100k (not 1m, like it is), it'd still be a pretty speculative play, but I'd have taken part. At that point it turns into a risky investment, rather than a straight-up gamble. To put it into perspective, risky investments are high-risk, high-reward situations. Gambles are high-risk, low-reward ones. The latter is a horrible deal from a financial perspective.


Both were private (the interesting part is I haven't seen a single actual, full-on business plan posted in these forums from anyone other than CBTC (who does a great job, but has had a lot of issues in the past)). I don't throw money at things blindly. I like to see my income rise, not fall. Research is key. Understanding the business and its management are key. Understanding the risk ratio of the business is key. Knowing the competition, market, and risks are key. There's so many things people neglect here, but I guess this is why it's an unregulated area -- so 'businesses' can keep taking advantage of fools.


 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




















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April 05, 2016, 07:34:08 PM
 #502

the top investor keeps buying and it keeps making my stash smaller.  Sad now i have no choice to buy more but this time im smarter. im waiting for the last 10 minutes to send in my btc.  then i wont be further diluted.
i just wish the top investor does not do the same.

You guys have money to blow. Lol I never invest more than 1 Btc in an ico because anything can happen.

its not money to blow. its money to invest. blowing money away is like using ponzi double your money in 2 hours.
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April 05, 2016, 07:43:06 PM
 #503

the top investor keeps buying and it keeps making my stash smaller.  Sad now i have no choice to buy more but this time im smarter. im waiting for the last 10 minutes to send in my btc.  then i wont be further diluted.
i just wish the top investor does not do the same.

You guys have money to blow. Lol I never invest more than 1 Btc in an ico because anything can happen.

its not money to blow. its money to invest. blowing money away is like using ponzi double your money in 2 hours.

to be fair - most bitcoin related investments are like ponzis but slower until they vanish.

anyways, gamebet seems legit, and I know some of them form other coin communities. I consider this as one of the better investments (I did not invest)

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April 05, 2016, 07:43:28 PM
 #504

I would have invested if there was a proper escrow.
But this is too fishy to me as there is no way of verifying that the OP is not re-investing all the
member's bitcoins back into the investment pool under his name.
He admitted that he is daily withdrawing the coins from the fund.
What happens to it, you guys have to trust.


Good luck for all the invested members.
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April 05, 2016, 07:49:40 PM
 #505

the top investor keeps buying and it keeps making my stash smaller.  Sad now i have no choice to buy more but this time im smarter. im waiting for the last 10 minutes to send in my btc.  then i wont be further diluted.
i just wish the top investor does not do the same.

You guys have money to blow. Lol I never invest more than 1 Btc in an ico because anything can happen.

its not money to blow. its money to invest. blowing money away is like using ponzi double your money in 2 hours.

to be fair - most bitcoin related investments are like ponzis but slower until they vanish.

anyways, gamebet seems legit, and I know some of them form other coin communities. I consider this as one of the better investments (I did not invest)

are you waiting to invest in the last 10 minutes like me?
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April 05, 2016, 07:51:37 PM
 #506

I would have invested if there was a proper escrow.
But this is too fishy to me as there is no way of verifying that the OP is not re-investing all the
member's bitcoins back into the investment pool under his name.
He admitted that he is daily withdrawing the coins from the fund.
What happens to it, you guys have to trust.


Good luck for all the invested members.
Whats happening with the invested funds  Huh
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April 05, 2016, 07:54:17 PM
 #507

I would have invested if there was a proper escrow.
But this is too fishy to me as there is no way of verifying that the OP is not re-investing all the
member's bitcoins back into the investment pool under his name.
He admitted that he is daily withdrawing the coins from the fund.
What happens to it, you guys have to trust.


Good luck for all the invested members.
Whats happening with the invested funds  Huh

Quote
Quote from: $dakini on April 04, 2016, 01:31:40 AM
Is it possible to see the invested balance in some BTC account?
How do we know you are not re-investing with the investments from other members?


You can see all the investments on the ledger. Every night we sell the majority of the bitcoin that has come in during the day. We do this for a few reasons but the main 2 are because, we are offering perks to our investors that actually cost us money our of pocket (steam prepaid cards, steam silver ect) so we must sell right away to cover theses costs. The 2nd reason we sell daily is because we are not gambling on the price of bitcoin. We have expenses and bills to pay and most of them don't take bitcoin as payment. Holding fiat is much safer for us then holding bitcoin is and the last thing we want to happen is for bitcoin to dump $100 and we end up losing 25% on top of what we have to put our for the perks.

Thanks for the great question.


it does not bother me what the devs do as long as the site start making money and more user start using it. that is all I care about.
I want to be part of the house for once in my life.

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April 05, 2016, 07:55:28 PM
 #508

are you waiting to invest in the last 10 minutes like me?

I will not invest at all. In my opinion, there's far too much established competition in both crypto and steam betting.

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April 05, 2016, 07:58:30 PM
 #509

are you waiting to invest in the last 10 minutes like me?

I will not invest at all. In my opinion, there's far too much established competition in both crypto and steam betting.

i dont agree. There is some competition of course but if that was a reason to not trying building something new then what would the world we live in look like?
its not an easy road but it cant be that hard to take a cool site and build it into a very popular site.
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April 05, 2016, 07:59:22 PM
 #510

I would have invested if there was a proper escrow.
But this is too fishy to me as there is no way of verifying that the OP is not re-investing all the
member's bitcoins back into the investment pool under his name.
He admitted that he is daily withdrawing the coins from the fund.
What happens to it, you guys have to trust.


Good luck for all the invested members.
Whats happening with the invested funds  Huh

Quote
Quote from: $dakini on April 04, 2016, 01:31:40 AM
Is it possible to see the invested balance in some BTC account?
How do we know you are not re-investing with the investments from other members?


You can see all the investments on the ledger. Every night we sell the majority of the bitcoin that has come in during the day. We do this for a few reasons but the main 2 are because, we are offering perks to our investors that actually cost us money our of pocket (steam prepaid cards, steam silver ect) so we must sell right away to cover theses costs. The 2nd reason we sell daily is because we are not gambling on the price of bitcoin. We have expenses and bills to pay and most of them don't take bitcoin as payment. Holding fiat is much safer for us then holding bitcoin is and the last thing we want to happen is for bitcoin to dump $100 and we end up losing 25% on top of what we have to put our for the perks.

Thanks for the great question.


it does not bother me what the devs do as long as the site start making money and more user start using it. that is all I care about.
I want to be part of the house for once in my life.


It sounds like a bit premature from the dev's part to lose transparency like this on invested funds before the ICO ends.
If he is that worried about the bitcoin price, he could have started the ICO 20 days back.
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April 05, 2016, 08:01:52 PM
 #511

I would have invested if there was a proper escrow.
But this is too fishy to me as there is no way of verifying that the OP is not re-investing all the
member's bitcoins back into the investment pool under his name.
He admitted that he is daily withdrawing the coins from the fund.
What happens to it, you guys have to trust.


Good luck for all the invested members.
Whats happening with the invested funds  Huh

Quote
Quote from: $dakini on April 04, 2016, 01:31:40 AM
Is it possible to see the invested balance in some BTC account?
How do we know you are not re-investing with the investments from other members?


You can see all the investments on the ledger. Every night we sell the majority of the bitcoin that has come in during the day. We do this for a few reasons but the main 2 are because, we are offering perks to our investors that actually cost us money our of pocket (steam prepaid cards, steam silver ect) so we must sell right away to cover theses costs. The 2nd reason we sell daily is because we are not gambling on the price of bitcoin. We have expenses and bills to pay and most of them don't take bitcoin as payment. Holding fiat is much safer for us then holding bitcoin is and the last thing we want to happen is for bitcoin to dump $100 and we end up losing 25% on top of what we have to put our for the perks.

Thanks for the great question.


it does not bother me what the devs do as long as the site start making money and more user start using it. that is all I care about.
I want to be part of the house for once in my life.


It sounds like a bit premature from the dev's part to lose transparency like this on invested funds before the ICO ends.
If he is that worried about the bitcoin price, he could have started the ICO 20 days back.


i dont see loss of transparency. we invest so they can build and work and marketing. it would be unfair to have someone who you invest money to to then have to bare the risk of price fluctuations. 
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April 05, 2016, 08:08:32 PM
 #512


i dont see loss of transparency. we invest so they can build and work and marketing. it would be unfair to have someone who you invest money to to then have to bare the risk of price fluctuations. 
How much price would expect to fluctuate in 2 weeks, that too when we have halving in 2 months time.
When you run a company and doing an ICO, you have some responsibility to the investors.
To me it sounds like a lame excuse.
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April 05, 2016, 08:11:25 PM
 #513


i dont see loss of transparency. we invest so they can build and work and marketing. it would be unfair to have someone who you invest money to to then have to bare the risk of price fluctuations.  
How much price would expect to fluctuate in 2 weeks, that too when we have halving in 2 months time.
When you run a company and doing an ICO, you have some responsibility to the investors.
To me it sounds like a lame excuse.


To be honest it's a very lame excuse. Quite sketchy. But we will see what will happen.

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April 05, 2016, 08:12:03 PM
 #514


i dont see loss of transparency. we invest so they can build and work and marketing. it would be unfair to have someone who you invest money to to then have to bare the risk of price fluctuations. 
How much price would expect to fluctuate in 2 weeks, that too when we have halving in 2 months time.
When you run a company and doing an ICO, you have some responsibility to the investors.
To me it sounds like a lame excuse.


with bitcoin anything is possible and i think the sale lasts 3 week. we have all seen bitcoin dump 50$ or more in a week. sometime in a few hours.
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April 05, 2016, 08:14:27 PM
 #515


i dont see loss of transparency. we invest so they can build and work and marketing. it would be unfair to have someone who you invest money to to then have to bare the risk of price fluctuations.  
How much price would expect to fluctuate in 2 weeks, that too when we have halving in 2 months time.
When you run a company and doing an ICO, you have some responsibility to the investors.
To me it sounds like a lame excuse.


To be honest it's a very lame excuse. Quite sketchy. But we will see what will happen.

i dont think the devs excuse is lame. they already have a product and users. its not like eth ico when people need to wait weeks or months for the project to go live. in that case they should have to wait till the end to sell btc. but when you already have business its different. like i said in the other post. it does not bother me.
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April 05, 2016, 08:17:37 PM
 #516


i dont see loss of transparency. we invest so they can build and work and marketing. it would be unfair to have someone who you invest money to to then have to bare the risk of price fluctuations.  
How much price would expect to fluctuate in 2 weeks, that too when we have halving in 2 months time.
When you run a company and doing an ICO, you have some responsibility to the investors.
To me it sounds like a lame excuse.


To be honest it's a very lame excuse. Quite sketchy. But we will see what will happen.

i dont think the devs excuse is lame. they already have a product and users. its not like eth ico when people need to wait weeks or months for the project to go live. in that case they should have to wait till the end to sell btc. but when you already have business its different. like i said in the other post. it does not bother me.
Would it bother you if all the members have invested 50bitcoins and the dev withdrew all of them and re invested 48bitcoins back into the investment making a total of 98bitcoin investment, of which dev gets to  keep half the GBT coins and 50 bitcoins? thats the question you should be asking yourself.
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April 05, 2016, 08:18:40 PM
 #517


i dont see loss of transparency. we invest so they can build and work and marketing. it would be unfair to have someone who you invest money to to then have to bare the risk of price fluctuations.  
How much price would expect to fluctuate in 2 weeks, that too when we have halving in 2 months time.
When you run a company and doing an ICO, you have some responsibility to the investors.
To me it sounds like a lame excuse.


To be honest it's a very lame excuse. Quite sketchy. But we will see what will happen.

i dont think the devs excuse is lame. they already have a product and users. its not like eth ico when people need to wait weeks or months for the project to go live. in that case they should have to wait till the end to sell btc. but when you already have business its different. like i said in the other post. it does not bother me.
Would it bother you if all the members have invested 50bitcoins and the dev withdrew all of them and re invested 48bitcoins back into the investment making a total of 98bitcoin investment, of which dev gets to  keep half the coins and 50 bitcoins? thats the question you should be asking yourself.

that would bother me but i dont think business like this will go like that. they are serious. i have read the business plan 3 times. its not stupid people on the team.
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April 05, 2016, 08:20:46 PM
 #518


i dont see loss of transparency. we invest so they can build and work and marketing. it would be unfair to have someone who you invest money to to then have to bare the risk of price fluctuations.  
How much price would expect to fluctuate in 2 weeks, that too when we have halving in 2 months time.
When you run a company and doing an ICO, you have some responsibility to the investors.
To me it sounds like a lame excuse.


To be honest it's a very lame excuse. Quite sketchy. But we will see what will happen.

i dont think the devs excuse is lame. they already have a product and users. its not like eth ico when people need to wait weeks or months for the project to go live. in that case they should have to wait till the end to sell btc. but when you already have business its different. like i said in the other post. it does not bother me.
Would it bother you if all the members have invested 50bitcoins and the dev withdrew all of them and re invested 48bitcoins back into the investment making a total of 98bitcoin investment, of which dev gets to  keep half the coins and 50 bitcoins? thats the question you should be asking yourself.

that would bother me but i dont think business like this will go like that. they are serious. i have read the business plan 3 times. its not stupid people on the team.
you will never know about it bro. thats where the transparency is needed.
If you dont have a problem with that, i am not going to argue further.
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April 05, 2016, 08:28:17 PM
 #519

Hey guys, posting here to give an update on how things are going. We're still in works with Chris Sanders on the youtube intro, it's taken longer than we've expected but this time has allowed us to ensure it will be very high quality material. Reminder, Hockey will be released tomorrow to kick-off our sports betting. Basketball, as well as other sports mediums will be released in the subsequent days to come. We want to thank you guys for your support and investments. We've still got a way to go from our initial goal, but there's still a few  days left and hopefully we'll reach our goal or get as close as possible to it! We want to thank everyone for all the great questions posted on the thread, in PM, email and through (contact us) the site.

We think we got to everyone's questions but if we missed any please accept our apologies and let us know. Last, but not least, we wanted to thank our users; The ones who are placing bets, winning and losing and creating great prize pools for everyone to enjoy; Without you the site would cease to exist. We also wanted to take this time to update everyone on the business side of the site. Our second week beta gave us some early indicators that we were onto a good thing with GameBet but after looking at the results over the last 14 days there's no doubt that GameBet will be successful.

Quote
# of Total Bets: 880
USD: 5863.61310460
GG: 5476.39199000
SS: 387.22111460

# of Users: 656
Average Bet Size (GG): 6.91463635
Average Bet Size (SS): 4.40023993

Over the last two weeks, the USD value of total bets has increased ~490%, average bet has gone up ~240% and users have increased 400%. We also want to remind everyone that this has all be achieved only using the BitcoinTalk forum and twitter. Once the sale is complete, the new UI redesign will be selected and implemented and then our marketing budget will be put to use, allowing us to expand our reach which will allow those in the Loyalty Reward Program to receive a handsome share. Looking at our current numbers it's easy to see we'll be producing great profit once things get rolling.


wow, the amount raised is now ~75 btc... Now i have a quick question... is there an investment cap? are you only looking to raise 100k so that at ~250btc raised the crowdsale will end?   Anyways, the ledger is filling up and this project looks pretty promising!   I look forward to updates and hope you consider adding some fantasy type football betting like draftkings to the plan
There is no investment cap. As stated in the opening post if we raise more than 100k that would be amazing and the total sold would be in the highest bracket available. Distributions will still be based on how much a user has invested percentage wise. Thanks for your support and yes it is a plan to eventually add Fantasy based betting.

wow, the amount raised is now ~75 btc... Now i have a quick question... is there an investment cap? are you only looking to raise 100k so that at ~250btc raised the crowdsale will end?   Anyways, the ledger is filling up and this project looks pretty promising!   I look forward to updates and hope you consider adding some fantasy type football betting like draftkings to the plan

I think one of the exciting parts of the project is that once you have the backend, you can add pretty much anything.
Our site is very flexible in what we are capable of doing. We take pride in ensuring that we have the right people to get jobs done efficiently as well as bringing to life new ideas.

You can’t expect anyone to invest when your numbers don’t back a million dollar valuation - However I would be willing to buy some of the coins later and play the market depending on how it does upon initial release.


IDK have you seen some of the other gambling sites around?
its obvious this has real credibility and a product out before the ICO is even released.

I'm in love with it so far, really excited for the ICO now!
Thank you for your kind words, we wish to continue to meet and exceed your expectations in the future.

how will you use the money? what will you do with the raised funds? if you assume for example raising $100k worth: your staffing plans? new developers? management? the specifics of your marketing strategy and why it costs so much? how long will the money last? exactly how much are you being paid? (in usd)
A lot of this is covered in the business plan, please take some time to read it. Here is a link: http://www.gamebet.gg/Content/BusinessPlan-Gamebet.ggv1.0.pdf

Will the ICO distribution be limited? like only one user can buy limited amount of GBT from one IP or something? What if some whale decides to jump first and buy GBT for, example, 400 BTC? he can own half of total supply and that can be really bad. GBT will be centralized and held by just few guys.
That's a great question. We could have tried to go about blocking people from doing this, but at the end of the day it is not possible to implement such a strategy as if someone wanted to they could easily use multiple proxies, computers, etc. Due to this, we've chosen to allow it as a free market and people are open to invest as much as they choose.

I Would be interested in investing once we get to know the team. is there any type of biography page or similar. where can i follow the updates for this? do you have a twitter or facebook.
Yes we have a twitter you can follow us as @gamebetgg and we do not yet have a facebook. There are small bios written for the core team members in the opening post. We do also have a Steam group which you can join here: http://steamcommunity.com/groups/gamebetgg

Betting on esports with crypto's and steam items has never been easier.
CONTACT
dailymodo@gamebet.gg @GamebetGg
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April 05, 2016, 08:36:44 PM
 #520

What time is the hockey betting open tomorrow
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