[ANN][ICO][BKB] BetKing Bankroll Token - 465 BTC raised in pre-sale!

[BetKing.io]

Just setup a new blog https://medium.com/betking-blog

Will be posting frequently over the next few months so follow and share to get all the latest.

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[Ethirald]

If there's need for an italian translation, i would love to reserve that (:

[Bybox]

Feel free to pm for french translation
Very interesting project good luck

[Smolko]

I would like to reserve the german translation.

Thank you

[salsa321]

reserved for indonesia translate

thank you dean

[BetKing.io]

Got a lot more pm's for translations.

You should be able to apply to do official translations over the next few days.

I'm just finalising some details with a campaign manager who will help with sig campaigns, twitter, facebook, trasnlations etc so that should be ready to go soon.


If anyone has any questions about the ICO let me know and I'll answer.

Thanks

[Porfirii]

Reserving spanish translation when needed.

[angrybirdy]

Done with my translation for Filipino.

https://bitcointalk.org/index.php?topic=1977365

Translated it while I am not very occupied.

Good Luck again Dean.

[BetKing.io]

Updated the main homepage http://betking.io to show all ico info now too.

[BetKing.io]

Just created a new Slack channel that you can join to keep up with updates.

http://slack.betking.io/

[BetKing.io]

Going to be picking translators next week.

If you would like to apply for translation you must post a link to a Bitcointalk thread of an ico that you have done a translation for previously.

Just leaving a message saying reserved won't mean you get accepted

Also if you pm'd me please post in here instead as it will be easier to find.

Thanks

Dean

[rudystyle]

What happened to old betking?

[BetKing.io]

Going to be picking translators next week.

If you would like to apply for translation you must post a link to a Bitcointalk thread of an ico that you have done a translation for previously.

Just leaving a message saying reserved won't mean you get accepted

Also if you pm'd me please post in here instead as it will be easier to find.

Thanks

Dean

I want to be the Turkish translator of the project as I post before. I was waiting you to post a bounty page. You can see my previous works in here: https://bitcointalk.org/index.php?topic=1557832.0

Thanks in advance.

OK thanks. I will review on Monday and let you know.

[LoyceV]

If you would like to apply for translation you must post a link to a Bitcointalk thread of an ico that you have done a translation for previously.

Native Dutch speaker here. I've only done one translation on Bitcointalk.


Something has been bugging me for a while, it seems to me some details need clarification:

30 million will be retained by BetKing for ICO bounties, testing bounties, advisors, hiring, future marketing and development.

I assume this includes your share, Dean? That is of course totally okay, but the way it's described now, you don't get a share. Or do you still get a share of the house edge, like the way it was in old BetKing with investors?
Your previous ICO raised many questions after it started, I think it would be good to get the details clear before the ICO.

After the crowdsale at least 50% of the funds raised will be used for the house bankroll that players bet against and winnings are paid from.The remaining funds will be used for marketing, promos, seo, design, development, server costs and legal.

So: from 100M Tokens:
paid tokens: more than 35% goes to bankroll
paid tokens: less than 35% goes to costs
unpaid tokens: 30% tokens reserved for costs

The total funds raised will determine the price per BetKing Bankroll token.We will take the total value of all funds at the current exchange rate at the end of the crowdsale to determine the total raised funds.E.g. If we raised $1,000,000 then the price per token would be $0.014 (1,000,000 / 70,000,000).

The buy back price offered by BetKing will be based on the current total bankroll profit.So for example if the price of the token at the end of the crowdsale was $0.014 and the bankroll profit was $1,000,000 then the buy back price would be $0.024 (1,000,000/100,000,000 + 0.014).

This is where I lost track of the details: You use the full $0.014 per token to buy back, but part of that $0.014 was also used to cover costs. If this part is taken out of the value of remaining tokens, you'll end up short at some point.
Also, the 30% reserved tokens have the same $0.014 value, but no money has been put in. If you give one of the reserved tokens away as a testing bonus, and the tester decides to use sell it back to BetKing after the first quarter, where does it's $0.014 come from?

[Smolko]

I would like to reserve the german translation.

My previous work:
https://bitcointalk.org/index.php?topic=1958610.msg19454438#msg19454438

[rijaljun]

Another gambling project? Well, this I'm interested to this project. Hope this project will be succesful

[BetKing.io]

If you would like to apply for translation you must post a link to a Bitcointalk thread of an ico that you have done a translation for previously.

Native Dutch speaker here. I've only done one translation on Bitcointalk.

Thanks, I'll get back to you on that.

Something has been bugging me for a while, it seems to me some details need clarification:

30 million will be retained by BetKing for ICO bounties, testing bounties, advisors, hiring, future marketing and development.

I assume this includes your share, Dean? That is of course totally okay, but the way it's described now, you don't get a share. Or do you still get a share of the house edge, like the way it was in old BetKing with investors?
Your previous ICO raised many questions after it started, I think it would be good to get the details clear before the ICO.

That is my share yes. I don't take any cut of house edge or any other commission.
The previous ICO was rushed and I was relying on previous BetKing bankrollers to jump in at too short notice, that was a mistake.
It was also a totally different format that wasn't that good of a deal compared to this one.
I've planned this one for a bit now and have 7 weeks before the sale starts so plenty time to answer peoples questions or clear anything up.

After the crowdsale at least 50% of the funds raised will be used for the house bankroll that players bet against and winnings are paid from.The remaining funds will be used for marketing, promos, seo, design, development, server costs and legal.

So: from 100M Tokens:
paid tokens: more than 35% goes to bankroll
paid tokens: less than 35% goes to costs
unpaid tokens: 30% tokens reserved for costs

It's easier to think of it as funds in the bankroll. At least 50% of all funds raised will be used for bankroll. The rest of the funds can also be thought of as being in the bankroll if they are not spent. We want to maintain the highest max bet of all dice sites again or at least be competitive.
So we will keep the max bet as high as possible with as little risk as possible. Maybe that means 60% of the funds are best kept for bankroll until we start seeing profit coming in.

The total funds raised will determine the price per BetKing Bankroll token.We will take the total value of all funds at the current exchange rate at the end of the crowdsale to determine the total raised funds.E.g. If we raised $1,000,000 then the price per token would be $0.014 (1,000,000 / 70,000,000).

The buy back price offered by BetKing will be based on the current total bankroll profit.So for example if the price of the token at the end of the crowdsale was $0.014 and the bankroll profit was $1,000,000 then the buy back price would be $0.024 (1,000,000/100,000,000 + 0.014).

This is where I lost track of the details: You use the full $0.014 per token to buy back, but part of that $0.014 was also used to cover costs. If this part is taken out of the value of remaining tokens, you'll end up short at some point.
Also, the 30% reserved tokens have the same $0.014 value, but no money has been put in. If you give one of the reserved tokens away as a testing bonus, and the tester decides to use sell it back to BetKing after the first quarter, where does it's $0.014 come from?

I don't end up short. The buy back price is tied to the current bankroll profit. I'm committing to buying back at least 10% of tokens every 3 months.
The site will be making profit in that time and it will be the profit that is used to buy back the tokens.

[BetKing.io]

I would like to reserve the german translation.

My previous work:
https://bitcointalk.org/index.php?topic=1958610.msg19454438#msg19454438

Thanks. Will get back to you.

[BetKing.io]

We're now listed on http://www.icocountdown.com/

[shafi alam]

Waiting for social bounty campaign.