BetKing.io - BKB token REFUNDS - $70k refunded so far

[dooglus]

I could be wrong on this, but basically the BKB tokens could suddenly look like a great investment
if the BTC price would drop sharply?

If the price of BTC drops to 10% of whatever it was at the time of the ICO, Dean's going to need to have 10 times the number of BTC the ICO raised to pay you guys back. Does that mean there's a risk of insolvency?

I guess if he really did sell the ICO coins for USD while the price of BTC was high then it's OK, because he can buy back cheap BTC to pay you back. But if he's holding them as BTC still then it seems like a risk.

It's unfortunate that the tokens aren't valued in BTC rather than USD so that investors can benefit from rises in BTC price.

[1715475161]

1715475161

[1715475161]

1715475161

[actmyname]

It's unfortunate that the tokens aren't valued in BTC rather than USD so that investors can benefit from rises in BTC price.

Right, but the profit does shift with price changes as it is counted in terms of USD, so there is some degree of rise with any BTC/ETH/LTC jumps in price.

It's only to a lesser degree (for now) while the initial token price exceeds that of the profit divided by 100 million.

[BetKing.io]

This weeks leaderboard winners

BTC:

User	Wagered	Prize
bhanu	1.85647525	0.125
mitchellosu	0.38394956	0.0625
Gennady12	0.23136454	0.025
dogedigital	0.22005	0.0125
igarey	0.13648654	0.00625

ETH:

User	Wagered	Prize
dogedigital	10.3125	2.5
Gennady12	4.70301804	1.25
hamstonaut	1.9424328	0.5
CryptoWithThePro	0.669365	0.25
cutmoney	0.42274438	0.125

LTC:

User	Wagered	Prize
dogedigital	116.3154	6
hamstonaut	73.41756173	3
Gennady12	22.89984442	1
ltibor	14.80374754	0.6
actmyname	0.31	0.3

BKB:

User	Wagered	Prize
patlp	162470	16000
0wl	116849	8000
truchas	40210	4000
JoasPT	17535.54345654	1000
Lite	16238	500

To claim prize pm "dean" on BetKing.io chat or email support@betking.io

New week has started, see here for more info
https://bitcointalk.org/index.php?topic=2634908

[lite]

This weeks leaderboard winners

BTC:

User	Wagered	Prize
bhanu	1.85647525	0.125
mitchellosu	0.38394956	0.0625
Gennady12	0.23136454	0.025
dogedigital	0.22005	0.0125
igarey	0.13648654	0.00625

ETH:

User	Wagered	Prize
dogedigital	10.3125	2.5
Gennady12	4.70301804	1.25
hamstonaut	1.9424328	0.5
CryptoWithThePro	0.669365	0.25
cutmoney	0.42274438	0.125

LTC:

User	Wagered	Prize
dogedigital	116.3154	6
hamstonaut	73.41756173	3
Gennady12	22.89984442	1
ltibor	14.80374754	0.6
actmyname	0.31	0.3

BKB:

User	Wagered	Prize
patlp	162470	16000
0wl	116849	8000
truchas	40210	4000
JoasPT	17535.54345654	1000
Lite	16238	500

To claim prize pm "dean" on BetKing.io chat or email support@betking.io

New week has started, see here for more info
https://bitcointalk.org/index.php?topic=2634908

PM sent! i hope you update the other thread with leaderboard status in mid-week. i could've wagered bit more to get the 4th prize lol.
congrats dogedigital!!

[DARKANGEL6415]

First of all congratulations to those who won on this contest. I actually have not been on the bet website for like a week. I somehow keep getting error when i try to log into the site but with the holidays upon us i really did not bother contacting their support.  Now this seems to be a bit better i think. The old jackpot system that i read on like 3 weeks ago was kind off. I cant imagine people hitting same rolls 2 times in a row.  Maybe in real life but mot digital dice rolls.

[actmyname]

The old jackpot system that i read on like 3 weeks ago was kind off. I cant imagine people hitting same rolls 2 times in a row.  Maybe in real life but mot digital dice rolls.

It's all arbitrary, ain't it? I would trust provably fair systems way more than I do brick & mortar casinos. You cannot verify that your gambling was entirely fair at live casinos (which have higher a much house edge, by the way).

And besides, would you rather aim for a jackpot when the house edge is 1% or when the house edge is 20%?

[BetKing.io]

You can now bet with OmiseGo on https://betking.io

So you have the choice of Bitcoin, Litecoin, Ethereum, OmiseGo and BetKing Bankroll Tokens(BKB).

Good luck!

[BetKing.io]

Do you think the dice game looks too complicated or could be better explained or improved in any way?



E.g. "max win" is the maximum profit you can make in one bet, does that confuse people?
Or the wagered/bets stats, should that be removed?
Profit box is the amount of profit a player is expected to win on their bet (based on bet amount and chance/payout), is that confusing?

This is pretty much how BetKing dice has always been and roughly the same as any other dice site. But doesn't mean it can't be improved. Any thoughts/ideas?

[BetKing.io]

Ethereum, BKB, OmiseGo (and any future token) withdrawals are now instant* and auto!
*subject to funds in hot wallet which I'll top up regularly

Happy new year

[jamyr]

Do you think the dice game looks too complicated or could be better explained or improved in any way?



E.g. "max win" is the maximum profit you can make in one bet, does that confuse people?
Or the wagered/bets stats, should that be removed?
Profit box is the amount of profit a player is expected to win on their bet (based on bet amount and chance/payout), is that confusing?

This is pretty much how BetKing dice has always been and roughly the same as any other dice site. But doesn't mean it can't be improved. Any thoughts/ideas?

I think the "wagered" stuff is not really essential to put on the main page as well as the "bets".

And "Bitcoin Dice"(https://prnt.sc/husk4k) showing even though I am playing with LTC, ETH and not bitcoin.

[dooglus]

E.g. "max win" is the maximum profit you can make in one bet, does that confuse people?

If it is the max profit, why not label it "max profit"? Especially since you already label the profit value as being "profit". It is confusing to use two different words for the same concept.

I think of it as the "win" is the "stake" plus the "profit". ie. you win your stake back, but the stake isn't part of the profit.

[jpcfan]

I could be wrong on this, but basically the BKB tokens could suddenly look like a great investment
if the BTC price would drop sharply?

If the price of BTC drops to 10% of whatever it was at the time of the ICO, Dean's going to need to have 10 times the number of BTC the ICO raised to pay you guys back. Does that mean there's a risk of insolvency?

I guess if he really did sell the ICO coins for USD while the price of BTC was high then it's OK, because he can buy back cheap BTC to pay you back. But if he's holding them as BTC still then it seems like a risk.

It's unfortunate that the tokens aren't valued in BTC rather than USD so that investors can benefit from rises in BTC price.

yep dean did the ICO wrong. he should have sucked it up and pay for marketing.


alex with bitdice ICO did it correctly and now their coin is up 100% so far

[actmyname]

yep dean did the ICO wrong. he should have sucked it up and pay for marketing.

The problem was with some developers that were not getting things done. You wouldn't heavily market something that's not at its peak, would you? It's like if you were to promote a cryptocurrency that was just the whitepaper and nothing else. (though there are some notable examples...)

[angrybirdy]

Dean I hav sent you a PM on betking. I am askinh for the bounty reward you promised for testers/bug finders when you were relaunching thE site.

[BetKing.io]

Code:

Latest leaderboard standings:

user	wagered	currency
bhanu	1.20092456	btc
Gennady12	1.05694595	btc
mitchellosu	0.66756715	btc
faizymehar45	0.12245037	btc
smoke2much	0.11568799	btc

Gennady12	8.56150947	eth
CocaCola23	1.4697	eth
Stretchdem38	1.04185	eth
dogedigital	0.3538	eth
Nori98	0.28662575	eth

Ropes	549	ltc
Gennady12	144.6560532	ltc
actmyname	10.1068191	ltc
amirhl	2.2176	ltc
jamyr	1.15903056	ltc

Gennady12	80029.84738	bkb
patlp	66035.8328	bkb
Lite	28040	bkb
sureillwin	20438	bkb
argos	18600	bkb

[lite]

Thanks dean for posting the current standings on wager leaderboard, will try for second position.

Dean I hav sent you a PM on betking. I am askinh for the bounty reward you promised for testers/bug finders when you were relaunching thE site.

I don't see you on bug bounty list.(https://docs.google.com/spreadsheets/d/1FPHCKyJlP8sCT6a0voiGZLx3VMTVu19OyedR0aKKa3E)

[iluvbitcoins]

Is it possible to see the total bankroll of the website?

Previously I thought it was this


But I just realized that's the wagered amount and not the bankroll 

[actmyname]

Is it possible to see the total bankroll of the website?

Previously I thought it was this


But I just realized that's the wagered amount and not the bankroll  

We can do some calculations to find a profit of:

0.0991 - 0.09286 = 0.00624 ± 0.0001 (error due to rounding)

(0.00624 ± 0.0001) * $100,000,000 = $624,000 ± $10,000 profit

Adding this to the original raised funds, we have ~$7,124,528.48. Give or take some movements in the cryptocurrencies that are in the wallets.I could very well be wrong with my approach, though. So don't quote me on it.

[iluvbitcoins]

Is it possible to see the total bankroll of the website?

Previously I thought it was this


But I just realized that's the wagered amount and not the bankroll  

We can do some calculations to find a profit of:

0.0991 - 0.09286 = 0.00624 ± 0.0001 (error due to rounding)

(0.00624 ± 0.0001) * $100,000,000 = $624,000 ± $10,000 profit

Adding this to the original raised funds, we have ~$7,124,528.48. Give or take some movements in the cryptocurrencies that are in the wallets.I could very well be wrong with my approach, though. So don't quote me on it.

If we raised a 1000BTC during the ICO, what the hell happened to them o.o

[angrybirdy]

Dean I hav sent you a PM on betking. I am askinh for the bounty reward you promised for testers/bug finders when you were relaunching thE site.

I don't see you on bug bounty list.(https://docs.google.com/spreadsheets/d/1FPHCKyJlP8sCT6a0voiGZLx3VMTVu19OyedR0aKKa3E)

Hello. I know there were problems with my name being on the list. I informed them on the thread about the difficulties of me retrieving my bounty.betking.io account. But to prove you guys of what I have contributed during the "beta-mode" of the site, here are some of my posts :

https://bitcointalk.org/index.php?topic=1974926.msg19667349#msg19667349
(very first time I offered my service)

https://bitcointalk.org/index.php?topic=1977365.msg19682185#msg19682185
(the translation I made as I assumed I am the one to translate in Filipino, but locked this thread immediately after Dean hired somebody else.)

https://bitcointalk.org/index.php?topic=1842538.msg19666488#msg19666488
(one of the things I encountered during the beta test)

https://bitcointalk.org/index.php?topic=1842538.msg19818747#msg19818747
(another thing I reported)

I even posted the ICO in Filipino in our local forum (pinoybitcoin.org), and tested the site every chance I have.


I have been ignored for the translation(which is my fault for assuming the position without dean's final decision), but I believe I deserve at least the reward I was promised for testing it and reporting stuff I find unusual.