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

[Kryptowerk]

Graphics for roulette look fantastic. Probably one of the best I have seen so far.

My translation bounty is not updated on my account, is it just me or will the stakes be updated on a later date?

[1715396703]

1715396703

[BetKing.io]

Graphics for roulette look fantastic. Probably one of the best I have seen so far.

My translation bounty is not updated on my account, is it just me or will the stakes be updated on a later date?

Hi
Thanks

To be honest I'm confused why people are making a big deal about bounties.
No matter what your stakes or score shows now, a full audit will be done at the end of the ICO which is in Septmeber.

We have things that are automated and me and support do update things semi-often but it just doesn't seem like people should care too much about it in my oppinon.

If you are doing what is lised in the bounty rules you'll be fine.

Thanks

[DD47]

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).

Every quarter BetKing will offer to buy back up to 10% of a holders tokens at the current buy back price.

This means at least 90% of the bankroll profit stays within the site each quarter, raising the value of remaining tokens.
Will the tokens that are bought back by BetKing be re-sold again at some point, or are they off the market forever? If they aren't re-sold, the bankroll can only go up from bankroll profit.

They won't be re-sold no.

Will you burn or sit on them? If you burn them, will you provide proof of burn? Will the token be listed on exchanges?

I will hold them.

I am looking to be listed on exchanges but there's a few more things that need completed before I can make the applications.
Hopefully that will be taken care of by the time the main sale starts.

Hi Dean,

I'm very interested in your re-launch/ico.  Could you please go into more detail on the mathematics on future buybacks, after the first one?
How will the buyback price be determined on subsequent quarters - for instance, if the first quarter Betking buys back 5% of the 10% offered, or 5,000,000 BKB -  will the next quarter divide the profit by 95,000,000 outstanding BKB? Or will it always be divided by 100,000,000?  

Basically, what happens to the re-purchased shares? And how will that affect future profits for the investors?

If Betking is buying back with bankroll profits, will the investors that hold their tokens benefit from doing so?

Thanks,
Dave

if the first quarter Betking buys back 5% of the 10% offered, or 5,000,000 BKB -  with then next quarter divide the profit by 95,000,000 outstanding BKB? Or will it always be divided by 100,000,000? 

Basically, what happens to the re-purchased shares? And how will that affect future profits for the investors?

Surely: when shares are purchased they stop being owned by the seller, and start being owned by the buyer. If Dean buys 5 million shares from investors, Dean will have 5 million more shares than he had before, and so will get an extra 5% of the profit. Investors will get 5% less of the profit, but individual investors who don't sell won't be affected by those who do.

Thank you for trying to answer, but I think you're missing my point.
If the buyback is being purchased from the bankroll profits that all investors share in, but the shares are only going to Dean/Betking - then I see an issue, especially if future profits are still divided by the full 100,000,000 shares. 

While the bankroll will be reduced by 5% in this case, all those shares that are bought back are going to Betking and not the remaining investors.

Maybe I'm not understanding, or I'm missing something - hence the reason I'm asking.

Thanks,
Dave

I'll forward this question for Dean to answer when he has a chance!

Hi Dean,

Wondering if you were forwarded these questions by BetKing Support and if you could address them.  I highlighted my messages in bold for ease of reading.

Thanks,
Dave

[BetKing.io]

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).

Every quarter BetKing will offer to buy back up to 10% of a holders tokens at the current buy back price.

This means at least 90% of the bankroll profit stays within the site each quarter, raising the value of remaining tokens.
Will the tokens that are bought back by BetKing be re-sold again at some point, or are they off the market forever? If they aren't re-sold, the bankroll can only go up from bankroll profit.

They won't be re-sold no.

Will you burn or sit on them? If you burn them, will you provide proof of burn? Will the token be listed on exchanges?

I will hold them.

I am looking to be listed on exchanges but there's a few more things that need completed before I can make the applications.
Hopefully that will be taken care of by the time the main sale starts.

Hi Dean,

I'm very interested in your re-launch/ico.  Could you please go into more detail on the mathematics on future buybacks, after the first one?
How will the buyback price be determined on subsequent quarters - for instance, if the first quarter Betking buys back 5% of the 10% offered, or 5,000,000 BKB -  will the next quarter divide the profit by 95,000,000 outstanding BKB? Or will it always be divided by 100,000,000?  

Basically, what happens to the re-purchased shares? And how will that affect future profits for the investors?

If Betking is buying back with bankroll profits, will the investors that hold their tokens benefit from doing so?

Thanks,
Dave

if the first quarter Betking buys back 5% of the 10% offered, or 5,000,000 BKB -  with then next quarter divide the profit by 95,000,000 outstanding BKB? Or will it always be divided by 100,000,000? 

Basically, what happens to the re-purchased shares? And how will that affect future profits for the investors?

Surely: when shares are purchased they stop being owned by the seller, and start being owned by the buyer. If Dean buys 5 million shares from investors, Dean will have 5 million more shares than he had before, and so will get an extra 5% of the profit. Investors will get 5% less of the profit, but individual investors who don't sell won't be affected by those who do.

Thank you for trying to answer, but I think you're missing my point.
If the buyback is being purchased from the bankroll profits that all investors share in, but the shares are only going to Dean/Betking - then I see an issue, especially if future profits are still divided by the full 100,000,000 shares. 

While the bankroll will be reduced by 5% in this case, all those shares that are bought back are going to Betking and not the remaining investors.

Maybe I'm not understanding, or I'm missing something - hence the reason I'm asking.

Thanks,
Dave

I'll forward this question for Dean to answer when he has a chance!

Hi Dean,

Wondering if you were forwarded these questions by BetKing Support and if you could address them.  I highlighted my messages in bold for ease of reading.

Thanks,
Dave

Hi
I saw the question yeah but I thought dooglus answered it.

The buy back price will always be profit divided by 100,000,000 as there will always be that many tokens.
No tokens will be burned. Eventually I will hold all tokens at some time in the future, depeding on when holders want to sell.

Hope that clears that up

Thanks

[Bes19]

It's my first time to join a campaign and hopefully it will turn out well. I am also excited to try Betking! I gamble into different btc gambling site so this one is a must try!

[DD47]

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).

Every quarter BetKing will offer to buy back up to 10% of a holders tokens at the current buy back price.

This means at least 90% of the bankroll profit stays within the site each quarter, raising the value of remaining tokens.
Will the tokens that are bought back by BetKing be re-sold again at some point, or are they off the market forever? If they aren't re-sold, the bankroll can only go up from bankroll profit.

They won't be re-sold no.

Will you burn or sit on them? If you burn them, will you provide proof of burn? Will the token be listed on exchanges?

I will hold them.

I am looking to be listed on exchanges but there's a few more things that need completed before I can make the applications.
Hopefully that will be taken care of by the time the main sale starts.

Hi Dean,

I'm very interested in your re-launch/ico.  Could you please go into more detail on the mathematics on future buybacks, after the first one?
How will the buyback price be determined on subsequent quarters - for instance, if the first quarter Betking buys back 5% of the 10% offered, or 5,000,000 BKB -  will the next quarter divide the profit by 95,000,000 outstanding BKB? Or will it always be divided by 100,000,000?  

Basically, what happens to the re-purchased shares? And how will that affect future profits for the investors?

If Betking is buying back with bankroll profits, will the investors that hold their tokens benefit from doing so?

Thanks,
Dave

if the first quarter Betking buys back 5% of the 10% offered, or 5,000,000 BKB -  with then next quarter divide the profit by 95,000,000 outstanding BKB? Or will it always be divided by 100,000,000? 

Basically, what happens to the re-purchased shares? And how will that affect future profits for the investors?

Surely: when shares are purchased they stop being owned by the seller, and start being owned by the buyer. If Dean buys 5 million shares from investors, Dean will have 5 million more shares than he had before, and so will get an extra 5% of the profit. Investors will get 5% less of the profit, but individual investors who don't sell won't be affected by those who do.

Thank you for trying to answer, but I think you're missing my point.
If the buyback is being purchased from the bankroll profits that all investors share in, but the shares are only going to Dean/Betking - then I see an issue, especially if future profits are still divided by the full 100,000,000 shares. 

While the bankroll will be reduced by 5% in this case, all those shares that are bought back are going to Betking and not the remaining investors.

Maybe I'm not understanding, or I'm missing something - hence the reason I'm asking.

Thanks,
Dave

I'll forward this question for Dean to answer when he has a chance!

Hi Dean,

Wondering if you were forwarded these questions by BetKing Support and if you could address them.  I highlighted my messages in bold for ease of reading.

Thanks,
Dave

Hi
I saw the question yeah but I thought dooglus answered it.

The buy back price will always be profit divided by 100,000,000 as there will always be that many tokens.
No tokens will be burned. Eventually I will hold all tokens at some time in the future, depeding on when holders want to sell.

Hope that clears that up

Thanks

Then it seems that you have quite a racket going. 

Betking will be taking the cumulative investors' profit to buyback tokens, reducing the bankroll, then Betking alone will be accumulating profits on those tokens to infinity with no benefit to remaining token holders. 

Eventually, Betking will have purchased the majority of tokens back with investors' money (Bankroll profits) - in essence diluting remaining token holders since Betking retains the re-purchased tokens and earns all future profits on those tokens.  Sounds like it's good to be Dean / Betking.

If I'm misunderstanding, please let me know.

[gogolang]

I hope it never goes above 1$ actually, its easier to use if you know 1BKB = 1$

I am using it now and I can tell you its probably one of the most undervalued coins at the moment. Theres an app.......with porn and cat videos

What more do you want?

[Xavier59]

Then it seems that you have quite a racket going. 

Betking will be taking the cumulative investors' profit to buyback tokens, reducing the bankroll, then Betking alone will be accumulating profits on those tokens to infinity with no benefit to remaining token holders. 

Eventually, Betking will have purchased the majority of tokens back with investors' money (Bankroll profits) - in essence diluting remaining token holders since Betking retains the re-purchased tokens and earns all future profits on those tokens.  Sounds like it's good to be Dean / Betking.

If I'm misunderstanding, please let me know.

As far as I understand, you have no obligation selling back your tokens to Dean. You can keep them as much time as you want and thus increasing your profit.
Wait for Dean confirmation tho.

[BetKing.io]

Then it seems that you have quite a racket going. 

Betking will be taking the cumulative investors' profit to buyback tokens, reducing the bankroll, then Betking alone will be accumulating profits on those tokens to infinity with no benefit to remaining token holders. 

Eventually, Betking will have purchased the majority of tokens back with investors' money (Bankroll profits) - in essence diluting remaining token holders since Betking retains the re-purchased tokens and earns all future profits on those tokens.  Sounds like it's good to be Dean / Betking.

If I'm misunderstanding, please let me know.

I'm buying tokens back with my own profit, the 30 million tokens I keep from the ICO.
There's not going to be any significant reduction in bankroll, max 10% every 3 months.
Yes I will then be making a profit on the tokens I hold, the ones not being sold plus the ones I buy back, that's pretty normal and how most businesses work.

Remaining token holders have the benefit that their tokens have much more value the longer they hold them. They can choose to never sell them back to me for many years or if the site was to be sold.

There's no dilution going on at all.

[carlisle1]

I hope it never goes above 1$ actually, its easier to use if you know 1BKB = 1$

I am using it now and I can tell you its probably one of the most undervalued coins at the moment. Theres an app.......with porn and cat videos

What more do you want?

that's right this project will surely turned into a big success as mention by the dev they will hold some tokens to make sure that investors and holders
will be assured that the dividends and the token will not be dumped dev will push this project into a big earnings platform.

[gnurta]

that's right this project will surely turned into a big success as mention by the dev they will hold some tokens to make sure that investors and holders
will be assured that the dividends and the token will not be dumped dev will push this project into a big earnings platform.

Betking doesn't pay dividends to token holders. Just quarterly buyback.

[gnurta]

I'm buying tokens back with my own profit, the 30 million tokens I keep from the ICO.
There's not going to be any significant reduction in bankroll, max 10% every 3 months.
Yes I will then be making a profit on the tokens I hold, the ones not being sold plus the ones I buy back, that's pretty normal and how most businesses work.

Remaining token holders have the benefit that their tokens have much more value the longer they hold them. They can choose to never sell them back to me for many years or if the site was to be sold.

There's no dilution going on at all.

In that case, I think you need to keep a record of your profit separated from the other token holders because part of that profit is used for buyback.

[spandreev]

Hi Dean, as I understand you use new BTC and ETH addresses, please provide it in the topic, thanks!

Old public addresses https://blockchain.info/address/18nidz1QbX1bCi9txkdozSZhiqsGx2JEE5 and https://etherscan.io/address/0xEB3dbc1cd1c19D6f7780066E47575916E11fa80d

[Xexen4]

hey op i want to ask a question about liquidation for desk or house.
how will you provided liquidation for bets, gamblings? with your own capital stocks ? from ico funds? or will you funded from other 3rd party clients?

[Kanine Awe]

Big fan of how they are going to be doing quarterly buy backs using the profits, and that will help to determine the coins price.  It's very exciting I believe

[DD47]

Then it seems that you have quite a racket going. 

Betking will be taking the cumulative investors' profit to buyback tokens, reducing the bankroll, then Betking alone will be accumulating profits on those tokens to infinity with no benefit to remaining token holders. 

Eventually, Betking will have purchased the majority of tokens back with investors' money (Bankroll profits) - in essence diluting remaining token holders since Betking retains the re-purchased tokens and earns all future profits on those tokens.  Sounds like it's good to be Dean / Betking.

If I'm misunderstanding, please let me know.

I'm buying tokens back with my own profit, the 30 million tokens I keep from the ICO.
There's not going to be any significant reduction in bankroll, max 10% every 3 months.
Yes I will then be making a profit on the tokens I hold, the ones not being sold plus the ones I buy back, that's pretty normal and how most businesses work.

Remaining token holders have the benefit that their tokens have much more value the longer they hold them. They can choose to never sell them back to me for many years or if the site was to be sold.

There's no dilution going on at all.

Thank you for this answer.

Please hear me out on this, and hopefully this explains what I mean and hopefully a better situation for all. 

Hypothetical:

Money Raised:  $10,000,000
70% Bankroll:  $ 7,000,000
30% BetKing:   $ 3,000,000

Price per token:  $10,000,000/70,000,000  = $0.14

Q1 Profit:  $500,000
Bankroll at end of Q1:  $7,500,000

Buyback 10% of tokens: 71,000,000 x 10% = 7,100,000 (includes bounty token holders)

Buyback price:  $500,000/100,000,000 tokens = .005 + 0.14 = .145

Reduction to bankroll:  7,100,000 x .145 = $1,029,500.00

Bankroll value after buyback:  $7,500,000 - $1,029,500 = $6,470,500

Remaining Investor tokens outstanding:  71,000,000 - 7,100,000 = 63,900,000

Value of token after buyback as proposed:  $6,470,500 / 100,000,000 = 0.064705
(this is where the dilution comes into play, although not a typical dilution as in the stock market) - Q2 would need to overcome the deficit just to break even.

Value of token after buyback if repurchased tokens were burned:  $6,470,500 / (100,000,000 - 7,100,000 = 92,900,000) =  0.069650161


When companies buyback shares, the outstanding shares are reduced, thus raising the value of the remaining shares.  I understand that these are not shares, but the same theory applies.

Don't get me wrong, I'm not trying to dog your project, on the contrary, I'm still very interested under the right circumstances. I think there is value in your casino and profit to be made if done correctly.  I just think that by not burning the re-purchased shares it's a losing situation for the investor.

Please consider burning the re-purchased tokens, you would still always have the majority of tokens and they would be worth more and the more you burn, the higher percentage your 29,000,000  tokens represent (or whatever the final number is after all marketing and costs).  You would still achieve your goal of owning all tokens eventually.

Thanks for listening/considering.

Regards,
Dave

[ymemey]

I think buyback is a good insurance for investor, in this crazy ICO-time

[tlcash]

 I will ask something.

 Will it be updated this week? Stake??

[DD47]

I think buyback is a good insurance for investor, in this crazy ICO-time

Sure, give me $1.00, I'll give you 10 tokens worth .07 each.  I'll use the rest of your money to buy back 1 token every 3 months for .07 plus a little for your trouble, you'll have your money back in 2 to 3 years.

It's Genius. Sure sounds good until you work the numbers.

1.00/.07 per quarter = 14.28 quarters

I'll be the guy buying during Q2 for 90% discount. 

[lovingcoins]

I'm interest in PRE ICO price, how long does it take to get an reply back?, Thank you!