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

[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

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.

I don't think you understand what I am writing. Do the tokens get destroyed or not. It's a very simple question.

[1714945746]

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[LoyceV]

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.

I just tested it: faucet works just fine.
Faucet was $0.08 (1000 sat), now lowered to 500 sat ($0.05). It's amongst the highest in the industry for entry-level accounts.

I don't think you understand what I am writing. Do the tokens get destroyed or not. It's a very simple question.

Dean never said tokens would get destroyed. He buys them, he owns them. He did say they won't be sold again though.

[someone111]

Shit, due to the BTC run, this is a bad investment for me. On the book, I would make a loss if I sold now. It's like 6 K USD while BTC now is at 10 K USD.

Even though I invested in PreICO, got the best bonus, and my byteball and BCH was also invested.

What do I do know? Hold? Wait for the profits of betking to explode and sell then? How are the chances for that?

[BetKing.io]

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

It was made clear in the original post on this thread.

You can also see how to take part in the buyback here https://betking.io/blog/first-bkb-buy-back-date/

All ICO info can be found here https://betking.io/ico/


There really is nothing in all this thread that has not been answered before the ICO even started which is why I don't check this much. I also still don't get notifications of replies here for some reason.

[actmyname]

Shit, due to the BTC run, this is a bad investment for me. On the book, I would make a loss if I sold now. It's like 6 K USD while BTC now is at 10 K USD.

Even though I invested in PreICO, got the best bonus, and my byteball and BCH was also invested.

Exactly. You invested in BKB rather than BTC. As soon as you invested the bitcoins, you 'sold' them.

What do I do know? Hold? Wait for the profits of betking to explode and sell then? How are the chances for that?

Up to you. You can sell now or hold to wait for profits from the casino.

[iluvbitcoins]

Shit, due to the BTC run, this is a bad investment for me. On the book, I would make a loss if I sold now. It's like 6 K USD while BTC now is at 10 K USD.

Even though I invested in PreICO, got the best bonus, and my byteball and BCH was also invested.

Exactly. You invested in BKB rather than BTC. As soon as you invested the bitcoins, you 'sold' them.

What do I do know? Hold? Wait for the profits of betking to explode and sell then? How are the chances for that?

Up to you. You can sell now or hold to wait for profits from the casino.

You sold them to sort of a hedge fund, the bankroll consists of BTC, eth and ltc so as value of all of those increase, so does the value of the bankroll and therefore the value of BKB tokens.
Since BTC is 75% of the bankroll, he's pretty much still invested in BTC.

I'd also like to link this
https://bitcointalk.org/index.php?topic=2150057.msg25690641#msg25690641

Should of posted here instead since it belongs here.

[swirve]

You sold them to sort of a hedge fund, the bankroll consists of BTC, eth and ltc so as value of all of those increase, so does the value of the bankroll and therefore the value of BKB tokens.
Since BTC is 75% of the bankroll, he's pretty much still invested in BTC.

This is not correct, and part of the confusion.  Here is the ICO information:

https://betking.io/ico/

It appears the ICO proceeds were counted in USD and that determined the starting value in USD of the BKB tokens ($0.09286).  The value increase in the BKB token has exclusively been from casino profits (https://betking.io/bet/stats) - but BKB has not increased in value from the USD increase in the original bankroll. If it had, BKB would be worth far more - the initial amount alone would be worth $0.13+ plus the profits from the casino.

[BetKing.io]

Shit, due to the BTC run, this is a bad investment for me. On the book, I would make a loss if I sold now. It's like 6 K USD while BTC now is at 10 K USD.

Even though I invested in PreICO, got the best bonus, and my byteball and BCH was also invested.

Exactly. You invested in BKB rather than BTC. As soon as you invested the bitcoins, you 'sold' them.

What do I do know? Hold? Wait for the profits of betking to explode and sell then? How are the chances for that?

Up to you. You can sell now or hold to wait for profits from the casino.

You sold them to sort of a hedge fund, the bankroll consists of BTC, eth and ltc so as value of all of those increase, so does the value of the bankroll and therefore the value of BKB tokens.
Since BTC is 75% of the bankroll, he's pretty much still invested in BTC.

I'd also like to link this
https://bitcointalk.org/index.php?topic=2150057.msg25690641#msg25690641

Should of posted here instead since it belongs here.

You are wrong. The value increases with site profit. This was explained in the OP of this thread from before the ICO and in the site page https://betking.io/ico

[iluvbitcoins]

Shit, due to the BTC run, this is a bad investment for me. On the book, I would make a loss if I sold now. It's like 6 K USD while BTC now is at 10 K USD.

Even though I invested in PreICO, got the best bonus, and my byteball and BCH was also invested.

Exactly. You invested in BKB rather than BTC. As soon as you invested the bitcoins, you 'sold' them.

What do I do know? Hold? Wait for the profits of betking to explode and sell then? How are the chances for that?

Up to you. You can sell now or hold to wait for profits from the casino.

You sold them to sort of a hedge fund, the bankroll consists of BTC, eth and ltc so as value of all of those increase, so does the value of the bankroll and therefore the value of BKB tokens.
Since BTC is 75% of the bankroll, he's pretty much still invested in BTC.

I'd also like to link this
https://bitcointalk.org/index.php?topic=2150057.msg25690641#msg25690641

Should of posted here instead since it belongs here.

You are wrong. The value increases with site profit. This was explained in the OP of this thread from before the ICO and in the site page https://betking.io/ico

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).

Bankroll was valued at 6.5 million.
Bankroll is valued at 18.5 million.
Bankroll profit is 12 million.

[swirve]

Bankroll was valued at 6.5 million.
Bankroll is valued at 18.5 million.
Bankroll profit is 12 million.

The site explains the process - it's profit from *bankrolled games*. It even specifies types of games (Poker) that don't count.

There's nothing wrong or unethical about the way it's calculated - it was all made clear up front.  But interestingly, he basically bet the viability of the casino on the price of BTC.  If BTC crashed after the ICO, the token would have skyrocketed in value in BTC and he'd likely have been at risk of collapse if he paid out all the BKB holders over time.  As is, he likely made a huge profit off the value of BTC over the last several months. This all assumes he kept the bankroll received in crypto.  If he switched it to USD, he'd have eliminated the risk/profits from BTC change, but also have a much smaller bankroll backstoppping the casino right now.

[iluvbitcoins]

What I remember is investing in a bankroll of a cryptocurrency casino.
It’s profit increased for 12 million $, and no where was it stated that the casino was going to sell crypto for FIAT and let people gamble in FIAT instead of crypto (which would assume you have nothing to do with crypto anymore), so please explain to me how the hell does your bankroll increase for 12 million $ (trifold) and you still get the same FIAT amount as when you invested when your assets are valued in FIAT and not in crypto.

[swirve]

What I remember is investing in a bankroll of a cryptocurrency casino.
It’s profit increased for 12 million $, and no where was it stated that the casino was going to sell crypto for FIAT and let people gamble in FIAT instead of crypto (which would assume you have nothing to do with crypto anymore), so please explain to me how the hell does your bankroll increase for 12 million $ (trifold) and you still get the same FIAT amount as when you invested when your assets are valued in FIAT and not in crypto.

The way it was done seems to have been specified and clarified up front, so on one hand, there was nothing illicit or inappropriate about it (I was not involved in the ICO, but I assume the info on the ICO screen describing the process was available).

On the other hand, the way it was done, there was literally no reason for anyone to invest in the IPO.  The money you put in was converted to FIAT and then held for you in FIAT where you can only redeem at it at 10% per quarter.   You get the benefit of casino profit, but you could get that by simply buying BKB after the fact. Since exchanges will always have it at a discount, buying BKB in the exchange would always be done at a better price than buying through the IPO, under any circumstance.  In fact, lots of people investing in the IPO actually *lowers* the return-on-investment because a larger portion of the value of BKB is the original $0.092 that can has a rate of return of 0%. 

If only 10% as many people would have invested, BKB would have started at $0.0096, but had the same absolute increase in value from casino profits, meaning 10x the percentage return. 

I think it either *should* have been set up the way you describe (invested in the full bankroll) or there was no real reason for anyone to invest in the ICO. If you wanted, say, $1000 ownership in the casino, you'd have been better off buying it in an exchange at a discounted price.

[iluvbitcoins]

Exactly, I haven't seen an explanation that investing in the casino bankroll won't yield me a part of the bloody bankroll!!
What I thought was investing in the casino bankroll, means bankroll profits get distributed among investors and not that your investment gets locked in FIAT but the cryptocurrency investors deposited doesn't have anything to do with the bankroll  
Why the hell did anyone invest in this?
I can only assume people were mislead as much as I was.

[LoyceV]

What I thought was investing in the casino bankroll, means bankroll profits get distributed among investors and not that your investment gets locked in FIAT

It was explained like this:

Token Price

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).

[nugrama]

What I thought was investing in the casino bankroll, means bankroll profits get distributed among investors and not that your investment gets locked in FIAT

It was explained like this:

Token Price

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).

Yes, this project is offing ICO could already in tranding, the project also partners with other coin dev precisely even nicer and this project is going to be good in the future. and immediately started to campaig from far-distant day hopefully many investors who are interested by this project.

[someone111]

Could you please request BKB to be added to coinmarketcap?

[azmojo]

Could you please request BKB to be added to coinmarketcap?

You need more than $10k of daily volume to qualify.

[azmojo]

It was made clear in the original post on this thread.

You can also see how to take part in the buyback here https://betking.io/blog/first-bkb-buy-back-date/

All ICO info can be found here https://betking.io/ico/


There really is nothing in all this thread that has not been answered before the ICO even started which is why I don't check this much. I also still don't get notifications of replies here for some reason.

Why don't you tell people that Americans aren't allowed to participate in the buybacks because the site won't allow them to deposit BKB? Why wasn't this disclosed during ICO?
It's really unfortunate, there's no other way to sell them, not enough demand on Etherdelta to sell any. No PR and no visibility for the token will ensure that it stays this way.

[hoolio]

I wanted to withdraw my BKB, now it says "error" in the transaction history but the coins dissapeared from my account. There is also no support form or email specified on the website. How can I transfer the coins?

[Jeff_Johansson]

The utility proposition of this deceptive coin is non-existing. This faulty coin is full of empty promises it is going nowhere!. We don't have to live on just trust.