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Author Topic: ⚜️⚜️⚜️⚜️ Edgeless - World‘s First Ethereum Based Crypto Casino ⚜️⚜️⚜️⚜️  (Read 374159 times)
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May 10, 2019, 10:06:22 PM
 #7101

Isn't this something the Edgeless Team would already have thought of?
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May 10, 2019, 10:30:52 PM
 #7102

They did, this is why the White Paper described sharing 40% of the Bankroll profits. Staking has worked to grow the Bankroll to 13 million EDG this year.

My analysis is there has not been any additions to the Bankroll other than the new Staking Cycles. I was curious about this, and when STAKING was announced to be open, I found no infusions to the Bankroll prior to Open STAKING.

When the 40% Feature of Staking is enabled, more capital will pour into Edgeless with the arrangement found in the White Paper. Players want BIG, having a $1 million Bankroll is an achievement. We can go a lot bigger. This depends on STAKING to push us to the next level. $10 Million is possible easily.

The EDG that sit in the Bankroll are off the 'market' until the next cycle. This constrains market supply and will stop the descent of the EDG token. It is a simple and virtuous cycle to have a larger Bankroll and thus more interest from Players. The STAKERS are rewarded with 40% of the Profit.

If we had two STAKING contracts one at 5% and one at 40%, which do you think the market will choose? The White paper says: "a decentralized price pool which is backed by 40% of casino profits". This must be implemented to realize the potential of Edgeless.

A market is about Risk and Reward. You must have Risk to have Reward. Every stakeholder in Edgeless, the PLAYERS, the HODLRs, the STAKERS, the Edgeless Core Team, and the Buyers of EDG must face risk and must always be able to realize reward.

There should not be less Risk for STAKERS than the PLAYERS! The PLAYERS put it on the line, wanting to win! They risk their EDG and they have a chance to win it big!

HODLRs have bought EDG and watched it's value collapse, at the same time, the Core Team says they must use Bankroll Profits to fund ongoing development.

Well where has that got us? We do have a Beta Staking product, which is the first step; this step has finally got us a sizable Bankroll. Now all we have to do is allow the market, to participate in the value of STAKING EDG with the 40% Feature and we will begin building the value that all the Stakeholders want.

The valuation of EDG as a token is important psychologically, in the industry it is common to represent chips such:

$1: white; blue (more common in Las Vegas and much of the Western and Midwestern US)
$2.50: pink (rarely used for poker; however, see Pink chip game and as a 3:2 payoff in blackjack
$5: red
$25: green; yellow
$50: blue
$100: black; white.

These are the psychological tiers in a PLAYER's mind, and when you are using this in your Casino, this is what is expected at least unconsciously.

Enabling the 40% Staking Feature would bring an infusion of crypto funds that are looking for yield, those EDG tokens would be locked into the Bankroll for the monthly cycle, and thus would remove liquidity from the market, and drive up demand for EDG and thus the price would begin to appreciate again.

We should also see this would stabilize the price, and as long as the Edgeless team Enables the 40% Staking feature should continue indefinitely.

The monthly STAKERs that see a yield would in some cases withdraw EDG from the next STAKING cycle to realize an income or gain, with the appreciation of EDG this would be less than they had STAKED and most likely would be less than they had received in the last STAKING cycle as they would want to compound their asset monthly.

The calculation for actual Annual Percentage Yield when calculating monthly is: APY=(1+periodic rate)∧number of periods−1

When this is done with an Edgeless Staking model for EDG at 40% of the Bankroll profits, then the numbers are attractive to anyone managing a portfolio.
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May 10, 2019, 10:34:56 PM
 #7103

I appreciate your level of detail. This seems to be an unrealized avenue for gains.

I will run my own numbers and get back to you...
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May 11, 2019, 12:23:12 AM
 #7104

we can see 40% profit sharing (with staking) on live soon. lets see!
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May 11, 2019, 01:05:09 AM
 #7105

Ok I'm back. I'm actually surprised by what I found.

I built a EDG valuation based around the compound results anually and when compared to other assets at market yields shows that EDG should be trading at $112 currently or 0.64 ETH.

This appears to be the way to turn around the market value of EDG.

The only reason I could see that the Edgeless Team would not want to Enable the 40% Staking is this effectively turns EDG into a Stable coin... Or maybe they realize that is the case and they don't want a Stable value for EDG???!!!

Since they are running the show I guess it's up to them. If I were a holder of EDG I would ask that this was implemented immediately. I'm only in this thread as EDG was being discussed on the Staking rewards telegram...
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May 11, 2019, 11:52:49 AM
 #7106

Wow, quality discussion. Keep it up. EDG has so much potential if the devs play their cards right. Someone get me my shades cause the future is looking bright  Cool
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May 13, 2019, 10:02:07 AM
 #7107

(...)

I built a EDG valuation based around the compound results anually and when compared to other assets at market yields shows that EDG should be trading at $112 currently or 0.64 ETH.

(...)

That implies a market valuation of $271.666.010.407 for EDG...

Which is bigger than current aggregated market cap of all assets, $213.250.154.262.


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May 13, 2019, 09:05:22 PM
 #7108


That implies a market valuation of $271.666.010.407 for EDG...

Which is bigger than current aggregated market cap of all assets, $213.250.154.262.


“we overestimate the impact of technology in the short-term and underestimate the effect in the long run.”

Global gambling revenues will hit 525$ billion by 2023 for the industry. Edgeless could be a distributer if they treat EDG as a Stable coin.
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May 14, 2019, 01:49:25 AM
 #7109


That implies a market valuation of $271.666.010.407 for EDG...

Which is bigger than current aggregated market cap of all assets, $213.250.154.262.


“we overestimate the impact of technology in the short-term and underestimate the effect in the long run.”

Global gambling revenues will hit 525$ billion by 2023 for the industry. Edgeless could be a distributer if they treat EDG as a Stable coin.

I agree, in the early stage, we tend to see more coin getting hype and I believe EDG benefit on that.
But now, it's fully operational, its real journey has started and I would be satisfied if I will see an steady growth although sometimes it would be nice to see it pump.

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May 14, 2019, 11:43:16 AM
 #7110

[...] I would be satisfied if I will see an steady growth although sometimes it would be nice to see it pump.

I don't think that Edgeless will have the luxury of time at this point. Without a stable coin to value the Casino Token with, the current business model will siphon off the little profit they have and without a way to raise capital, they are burning the candle on both ends. Failure to hold to their promise to the crypto community has burned some incredible bridges for Edgeless. At this point they will be unable to raise additional capital as they have not followed through with the original promise of Edgeless.

Currently the lack of stable value for EDG, and use of Bankroll profits is pushing all risk onto the existing Holders of EDG, and the original purchasers of EDG who may still hold EDG. Those who choose to stake are a small pool that is insulted by the current Staking arrangement that refuses to reward the risk this project is running with any returns to justify that risk.

Joel Spolsky said: https://web.archive.org/web/20120202115945/https://www.inc.com/magazine/20091101/does-slow-growth-equal-slow-death.html
Quote
"So what's the proper amount of risk? A lot of people would say, "Gosh, zero?" OK, that sounds safe and reasonable. You worked hard to build your business; you're counting on it for your retirement and your kids' college and whatever. But if you're not taking any risks, you're pretty much guaranteed to fail. Somewhere, there's someone out there who is taking more risks than you, and that person's business is growing faster than yours, and that person's business may one day come to dominate your industry while yours withers away."

This has created a vicious cycle of negative price pressure for Edgeless, which is only worsened by the Edgeless Team announcing that the Bankroll profits are being used to fund current development. The market has properly punished the price of EDG, as without a clear timetable of when the Bankroll Profits will be released to match the original design, and without any possibility of favorable terms for infusing future capital the Edgeless Team is left only with heavily discounted deals to fund the continuation of Edgeless. Such deals at heavy discounts to the current market price will cause additional pressure down.

We are looking at a quite bleak future for Edgeless. Those who still may be optimistic about the possibility of Edgeless, ignore that they cannot achieve what they state with the current design.

I went to the Edgeless website, and they still talk about Staking as if it is a Beta product. This was one of the cornerstones of the White paper, and they alienate crypto enthusiast's that could provide capital by treating this as an optional, maybe if we make some profits we'll have some excess to share. This is why Edgeless is in a death spin, they won't honor their original commitment, and they are punished by the market.

Using "Profits" from your Bankroll demonstrates that you have no capital. Instead of treating the Bankroll as an asset that grows and a pot that will enthuse Players in the casino, The Edgeless Team is treating it as a piggy bank to raid.

If Edgeless would honor their commitments, and allow those who risk capital to realize a return, they would reverse this descent. They would have additional resources for building the Edgeless system, and they would not push unrewarded risk onto the market.

Every Edgeless token taken by the team and sold into the market is providing downward pressure of this project's only ability to succeed. EDG must be treated as a Stable Coin by the market, and the Stakers must be compensated for risk with reward.

If both of these were done, there is a chance for EDG and Edgeless. If not it isn't worth a penny.
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May 14, 2019, 02:43:55 PM
 #7111


That implies a market valuation of $271.666.010.407 for EDG...

Which is bigger than current aggregated market cap of all assets, $213.250.154.262.


“we overestimate the impact of technology in the short-term and underestimate the effect in the long run.”

Global gambling revenues will hit 525$ billion by 2023 for the industry. Edgeless could be a distributer if they treat EDG as a Stable coin.

I agree, in the early stage, we tend to see more coin getting hype and I believe EDG benefit on that.
But now, it's fully operational, its real journey has started and I would be satisfied if I will see an steady growth although sometimes it would be nice to see it pump.
because the price of bitcoin is currently high, the price of EDG has also increased in USD,
but unfortunately it is not good for ethereum and bitcoin pairs, still seeing and monitoring

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May 14, 2019, 02:53:44 PM
 #7112

just gave it another try to log-in , but seems still not possible for dutch people to play on edgeless?


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May 15, 2019, 05:01:16 AM
 #7113

I understand correctly that for the next distribution of profits from bankroll I need to go through KYC? saw it in one of the posts above


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May 15, 2019, 07:10:51 AM
 #7114

Wow, quality discussion. Keep it up. EDG has so much potential if the devs play their cards right. Someone get me my shades cause the future is looking bright  Cool

I have not had EDG tokens for a long time, but I follow the project from time to time. Despite the fact that the price of the token has fallen dramatically over the past two years, the project is still promising. The developers are working on it, there are new games and new features. It's great.

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May 15, 2019, 02:10:28 PM
 #7115

I visited Edgeless website and it improves a lot since the last time I played. What about the previous plan building a tangible casino? I think it was planned to be built in the US. Current company is registered in Curacao.
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May 17, 2019, 12:58:06 PM
Last edit: May 17, 2019, 11:57:25 PM by Shapka23
 #7116

Edgeless will update staking and end the beta version

Starting from the 4th cycle, the staking platform will be updated from beta to official release. More information about the 4th cycle and new detailed terms and conditions will be announced on May the 24th

Read more https://blog.edgelessgroup.io/blog/edgeless-will-update-staking-and-end-the-beta-version
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May 20, 2019, 06:49:56 PM
 #7117

Edgeless will update staking and end the beta version

Starting from the 4th cycle, the staking platform will be updated from beta to official release. More information about the 4th cycle and new detailed terms and conditions will be announced on May the 24th

Read more https://blog.edgelessgroup.io/blog/edgeless-will-update-staking-and-end-the-beta-version

From the above article entry:
Quote
Everyone except US citizens can participate in Edgeless staking.  Due to uncertainty in the US in regard to the regulation of tokens, this feature is not available to US citizens for now.

Frankly I don't know if this will even deter the US government from poking its nose into Edgeless' gambling platform. The US has been very busy lately intervening  in other states' business. I hope they won't go too far.
saharovvv
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May 23, 2019, 07:07:23 PM
 #7118

Who understands explain to me please. Now there is a staking on a platform for which you can make a profit, is this an Edgeless Lounge or something else?


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addicto
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May 23, 2019, 07:24:40 PM
 #7119

Who understands explain to me please. Now there is a staking on a platform for which you can make a profit, is this an Edgeless Lounge or something else?

https://staking.edgelessgroup.io/
https://medium.com/edgeless/edgeless-beta-staking-3rd-cycle-details-d434c8983c5d

If you interested to park your tokens for staking purpose than you should keep this in mind there is risk involve in it although most the time it generate revenue for all people who stay with bank. Some details are given into this article I hope this will help you to let know about the previous track record.
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May 24, 2019, 12:44:26 PM
 #7120

Edgeless staking reward will be 40%

Read more: https://blog.edgelessgroup.io/blog/edgeless-staking-40-reward
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