[ANN][ICO][BKB] BetKing.io TOKEN REFUNDS

[Drininvest]

By the way, everything is fine. Tokens have been sent and displayed on MEW without any problems. Expect growth, as the price is still a penny

[LoyceV]

well , i tryed my first bets with BKB tokens but it eat the BKB very fast , startamount of 1 token is a little high to start with , maybe you can change it to 0.1 or even lower?

If $.10 is too much for you, perhaps you shouldn't be gambling.

Many people love gambling on auto pilot, starting from small amounts. If, for example, you're playing at 12% odds and 14% increase on loss, your bankroll has to be much higher than your starting bet, and if your bankroll is $100, a $0.10 starting bet means it's very likely you'll bust fast.

[LuckyBtc]

By the way, everything is fine. Tokens have been sent and displayed on MEW without any problems. Expect growth, as the price is still a penny

Yeah, It'll take some time to grow. BTW, BKB buy back price is shown on the website. Dean, Will buy the tokens at that rate in sometime in December. Exchanges rates are irrelevant. Just keep your tokens on BetKing, If you'd like to sell.

[azmojo]

well , i tryed my first bets with BKB tokens but it eat the BKB very fast , startamount of 1 token is a little high to start with , maybe you can change it to 0.1 or even lower?

If $.10 is too much for you, perhaps you shouldn't be gambling.

Many people love gambling on auto pilot, starting from small amounts. If, for example, you're playing at 12% odds and 14% increase on loss, your bankroll has to be much higher than your starting bet, and if your bankroll is $100, a $0.10 starting bet means it's very likely you'll bust fast.

Like I said, if $.10 is too much for you, you probably shouldn't be gambling.

[swirve]

Is there any official information on how and when the buyback process will take place?

[actmyname]

Is there any official information on how and when the buyback process will take place?

The buyback period begins December 4th. There will be an opt-in option for those that want 10% of their balance on BetKing.io to be sold. You need to have the tokens on BetKing before then.

[swirve]

Is there any official information on how and when the buyback process will take place?

The buyback period begins December 4th. There will be an opt-in option for those that want 10% of their balance on BetKing.io to be sold. You need to have the tokens on BetKing before then.

Thanks!  Do you know how long the buyback period lasts? And do I just need to have the BKB on the site by the end of the buyback period, or by Dec 4th when it starts?  Thanks!

[actmyname]

Thanks!  Do you know how long the buyback period lasts? And do I just need to have the BKB on the site by the end of the buyback period, or by Dec 4th when it starts?  Thanks!

BKB needs to be on the site before Dec 4th. You can then choose to opt-in to the buyback.

If so, then 10% of your BKB will be converted to the currency you choose. (IIRC)

[azmojo]

Thanks!  Do you know how long the buyback period lasts? And do I just need to have the BKB on the site by the end of the buyback period, or by Dec 4th when it starts?  Thanks!

BKB needs to be on the site before Dec 4th. You can then choose to opt-in to the buyback.

If so, then 10% of your BKB will be converted to the currency you choose. (IIRC)

Still would be nice if there was something published somewhere with all of this info instead of tribal knowledge.

For example, I'd like to know why it says that deposits aren't allowed in my country so I can get in on the buyback. Why can't BK buy back my tokens?

[PGPpfKkx]

buyback means that the tokens are burned or out of circulation? otherwise what's the point 

[actmyname]

Still would be nice if there was something published somewhere with all of this info instead of tribal knowledge.

For example, I'd like to know why it says that deposits aren't allowed in my country so I can get in on the buyback. Why can't BK buy back my tokens?

For the most part, a lot of this was answered on the Discord or Telegram channel. (And in this thread.)Deposits may not be allowed because your country prohibits online gambling (e.g. US)

buyback means that the tokens are burned or out of circulation? otherwise what's the point 

You're buying BKB as an investment to the casino. You profit when dean buys they back. Then dean just simply reclaims the bankroll. What more is there?

[azmojo]

Still would be nice if there was something published somewhere with all of this info instead of tribal knowledge.

For example, I'd like to know why it says that deposits aren't allowed in my country so I can get in on the buyback. Why can't BK buy back my tokens?

For the most part, a lot of this was answered on the Discord or Telegram channel. (And in this thread.)Deposits may not be allowed because your country prohibits online gambling (e.g. US)

Yeah, but I'm not trying to gamble, and Dean didn't say that Americans couldn't sell back their tokens.

[AlloM]

buyback means that the tokens are burned or out of circulation? otherwise what's the point 

Still no info about this buyback process what dev will do this token more like it will get burned and supply will be decreased after every buyback round.

[azmojo]

buyback means that the tokens are burned or out of circulation? otherwise what's the point 

Still no info about this buyback process what dev will do this token more like it will get burned and supply will be decreased after every buyback round.

Would be nice to have an official word, but I speculate that Dean's goal is to acquire tokens personally to regain ownership of the dividend cash flow. So he will just keep the tokens and there's little risk of them entering the market again unless he needs financing under my theory.

[actmyname]

Still no info about this buyback process what dev will do this token more like it will get burned and supply will be decreased after every buyback round.

buyback means that the tokens are burned or out of circulation? otherwise what's the point 

You're buying BKB as an investment to the casino. You profit when dean buys they back. Then dean just simply reclaims the bankroll. What more is there?

Literally replied to this already. Only a few posts before you.Dean is buying back the tokens to reclaim the bankroll.

The tokens are then out of circulation. At the end of it (once Dean has 100% of the tokens) then he will be in essence controlling 100% of the bankroll.

[PGPpfKkx]

Still would be nice if there was something published somewhere with all of this info instead of tribal knowledge.

For example, I'd like to know why it says that deposits aren't allowed in my country so I can get in on the buyback. Why can't BK buy back my tokens?

For the most part, a lot of this was answered on the Discord or Telegram channel. (And in this thread.)Deposits may not be allowed because your country prohibits online gambling (e.g. US)

buyback means that the tokens are burned or out of circulation? otherwise what's the point  

You're buying BKB as an investment to the casino. You profit when dean buys they back. Then dean just simply reclaims the bankroll. What more is there?

I don't get the difference between selling back on the buyback and selling on an exchange since the prices are the same? I understood from other projects that buybacks burn tokens and that decreases supply and it increases the price like giving out dividends. in this case my only question is "why"?

I am not fuding, I am an ico investor

[swirve]

I think the question boils down to this:

Let's say there are 10 million tokens out there and $10 million in profits over a quarter - then each token would gain $1 in value (obviously, I'm making all these numbers up).

At the end of the quarter, 1 million tokens are taken out of circulation. 

So the next quarter, if there are another $10 million in profits, is that distributed between 9 million remaining tokens or the full 10 million?  I assume it's the 10 million - otherwise, all the profits in the casino would just go to a smaller and smaller group of token holders, which would make no sense and BetKing would never gain anything as a result.  But i think that's the question he's asking.

[PGPpfKkx]

I think the question boils down to this:

Let's say there are 10 million tokens out there and $10 million in profits over a quarter - then each token would gain $1 in value (obviously, I'm making all these numbers up).

At the end of the quarter, 1 million tokens are taken out of circulation. 

So the next quarter, if there are another $10 million in profits, is that distributed between 9 million remaining tokens or the full 10 million?  I assume it's the 10 million - otherwise, all the profits in the casino would just go to a smaller and smaller group of token holders, which would make no sense and BetKing would never gain anything as a result.  But i think that's the question he's asking.

exactly it's nowhere clear what does the buyback do and why you would prefer the buyback from simply selling on hitbtc for example

[HEvangelista]

I wonder what happened to the faucet feature? I was amazed when I first saw it but after getting back to the website after a few weeks the faucet is no longer working. Maybe we can put it back for it was a great feature.

[actmyname]

I think the question boils down to this:

Let's say there are 10 million tokens out there and $10 million in profits over a quarter - then each token would gain $1 in value (obviously, I'm making all these numbers up).

At the end of the quarter, 1 million tokens are taken out of circulation. 

So the next quarter, if there are another $10 million in profits, is that distributed between 9 million remaining tokens or the full 10 million?  I assume it's the 10 million - otherwise, all the profits in the casino would just go to a smaller and smaller group of token holders, which would make no sense and BetKing would never gain anything as a result.  But i think that's the question he's asking.

exactly it's nowhere clear what does the buyback do and why you would prefer the buyback from simply selling on hitbtc for example

How is it unclear? The profits are distributed across all tokens. Dean buys back the tokens on the site. The price on HitBTC < the price on BetKing.io. You can choose to dump on there and treat it like another short-term investment... or you can let your token value grow with the site. ¯\_(ツ)_/¯

I wonder what happened to the faucet feature? I was amazed when I first saw it

It was one cent. I don't think it's that impressive.