[ANN] Providence (PVE) 100% Cashless & Physical Crypto Casino & Resort

[luigii]

if I myself really like this project
  but even then with the reasons there are pertangngung answers from the project team afraid token price munjadi expensive

Hey umycantik!

On the token price, in the past several months, we have had multiple revisions and consultations with casino operators and people from the industry and this valuation of a market cap and token price for the industry is something that would be most optimal for the first-year casino with accompanying facilities. If you check numerous sources and turnovers of large casinos like in Las Vegas and recently Macau you will get a sense of the industry. Here is a recent article from Forbes laying out some revenues and numbers for casinos in Macau for example.

"Sanford Bernstein’s Vitaly Umansky reports average daily revenue (ADR) of MOP805 million for the last week of May that included the Dragon Boat Festival holiday, just the sixth week in the past year with ADR exceeding MOP800. This is in counter value around 100M USD average DAILY revenue in Macau (combined casinos). Basically, our entire market cap if ethereum hits $300 USD (based on our counter value 1ETH=600PVE Token sale price). So we had to account also for a possible downside of the market of 20-30% and anything less bellow that market cap would lead to unsustainable business models. Imagine a several Macau high-rollers coming to the casino and playing with 10% of the whole market cap in such scenarios where we would have a smaller valuation. Of course, we need to attract such guests, but here you can see a major upside for our business model and token holders that as we scale and become more recognized the token prices have to go up.

In any other case, a potentially big investor who is familiar with this industry would be discouraged because any numbers lower than that can't support a physical casino business on that scale and with a long-term plan of expansion.

Hope I gave you some good backings to our valuations and initial prices discovery.

seems like these guys really made their homework It looks like the team has experience and knowledge both in crypto and casino industry. What do you mean with "a long-term plan for expansion"? How can you expand something that is fixed and physical?

Hi crypto! Thanks for your confidence in us! Regarding expansion plans, this is something you can see as the last point in our roadmap. However, that is just the last point in our first "flight" and a start of the second. Once we setup operations and processes with Providence and, of course, see all the things we can optimize and enhance (or fix) then we will move onto acquring new business partners that would want to implement the same business model and the whole platform into their casinos or resorts. We will either whitelabel the whole complex (online casino, exchange and processes) or merge existing parties under the Providence brand and have more locations around the world that accept PVE or interoperate with other ERC20 tokens that emerge on the markets. There are several verticals either through the crypto domain or the gaming industry. So our physical location will stay where it is, but new may pop out also . More on that as we move through the initial plans and roadmap!

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[luigii]

I think that people who complain about prices don't really understand size of  opening something like  casino and hotel,and what kind of investment that needs.Someone getting into that must plan years ahead,and not expect fast and easy cash.Thats long term investment.And then  u add cryptocurrencies on top of that..

We are aware that people will have questions about the price and valuation. And we are here to back that up with our data and preparatuon. Indeed a lot of time was spent on planning. After the presale all feasibility and business plans regarding the casino and hotel will be published where you will see all the numbers and turnovers that we expect in the next 3 years.

[luigii]

I think that people who complain about prices don't really understand size of  opening something like  casino and hotel,and what kind of investment that needs.Someone getting into that must plan years ahead,and not expect fast and easy cash.Thats long term investment.And then  u add cryptocurrencies on top of that..

Indeed that is difference between real life project this is great attempt to take the cryptocurrencies to the next level. I also agreed with you this is a long term project and from my point of now this world is getting matured and ready to go to the mainstream. It has potential to deliver so price of token is not a matter.

Very well said dishku!

[basket ball]

I think that people who complain about prices don't really understand size of  opening something like  casino and hotel,and what kind of investment that needs.Someone getting into that must plan years ahead,and not expect fast and easy cash.Thats long term investment.And then  u add cryptocurrencies on top of that..

We are aware that people will have questions about the price and valuation. And we are here to back that up with our data and preparatuon. Indeed a lot of time was spent on planning. After the presale all feasibility and business plans regarding the casino and hotel will be published where you will see all the numbers and turnovers that we expect in the next 3 years.

Using funds from the presale to run the project immediately is the right step, we can see the project potential of how the development goes after pre-sale

[luigii]

I think that people who complain about prices don't really understand size of  opening something like  casino and hotel,and what kind of investment that needs.Someone getting into that must plan years ahead,and not expect fast and easy cash.Thats long term investment.And then  u add cryptocurrencies on top of that..

We are aware that people will have questions about the price and valuation. And we are here to back that up with our data and preparation. Indeed a lot of time was spent on planning. After the presale all feasibility and business plans regarding the casino and hotel will be published where you will see all the numbers and turnovers that we expect in the next 3 years.

Using funds from the presale to run the project immediately is the right step, we can see the project potential of how the development goes after pre-sale

Many things are already funded from our side and with the disclosure of all those activities, you will see our velocity. Also don't forget that the Online Casino is coming before the Main Token Sale with BETA afterward for lightning network deposits. So we are moving things on multiple frontiers.

[_J_Newman]

if I myself really like this project
  but even then with the reasons there are pertangngung answers from the project team afraid token price munjadi expensive

Hey umycantik!

On the token price, in the past several months, we have had multiple revisions and consultations with casino operators and people from the industry and this valuation of a market cap and token price for the industry is something that would be most optimal for the first-year casino with accompanying facilities. If you check numerous sources and turnovers of large casinos like in Las Vegas and recently Macau you will get a sense of the industry. Here is a recent article from Forbes laying out some revenues and numbers for casinos in Macau for example.

"Sanford Bernstein’s Vitaly Umansky reports average daily revenue (ADR) of MOP805 million for the last week of May that included the Dragon Boat Festival holiday, just the sixth week in the past year with ADR exceeding MOP800. This is in counter value around 100M USD average DAILY revenue in Macau (combined casinos). Basically, our entire market cap if ethereum hits $300 USD (based on our counter value 1ETH=600PVE Token sale price). So we had to account also for a possible downside of the market of 20-30% and anything less bellow that market cap would lead to unsustainable business models. Imagine a several Macau high-rollers coming to the casino and playing with 10% of the whole market cap in such scenarios where we would have a smaller valuation. Of course, we need to attract such guests, but here you can see a major upside for our business model and token holders that as we scale and become more recognized the token prices have to go up.

In any other case, a potentially big investor who is familiar with this industry would be discouraged because any numbers lower than that can't support a physical casino business on that scale and with a long-term plan of expansion.

Hope I gave you some good backings to our valuations and initial prices discovery.

seems like these guys really made their homework It looks like the team has experience and knowledge both in crypto and casino industry. What do you mean with "a long-term plan for expansion"? How can you expand something that is fixed and physical?

It is possible to have more fixed and physical locations around the world.
A brand development itself is a step forward too.

[btcltcdigger]

Will the casino have an online branch as well?
I understand Casino & Resort is a nice thing by itself, but I would still like to play online?

Maybe like a virtual thing? (since VR is now a hype)

[luigii]

Will the casino have an online branch as well?
I understand Casino & Resort is a nice thing by itself, but I would still like to play online?

Maybe like a virtual thing? (since VR is now a hype)

Hi btc! Yes, we will have an online branch. The Providence Online Casino Beta will, in fact, be launched already before the main token sale

Here are the key points about the onine casino

The Providence Online Casino will have latest implementations regarding technical background and performance. The key aspects that will be rolled in our initial launch of the platform will include:
•   0 confirmations required on deposits
•   All games implemented using Provably Fair system
•   Multi-currency (BTC, LTC, ETH, PVE)
•   3 games available in the start (Blackjack, Dice, Roulette)

Lightning Network Beta
One forward-looking aspect that we will be launching in parallel to the Providence Online Casino is the Lightning Network implementation. The “Providence Lightning Beta” will feature instant deposits with Lightning Network on Bitcoin.

Further down the line as the Physical Casino becomes operational, we will merge the two platforms into a unique experience with interesting approaches. We will be introducing a set of custom games that will be tied to the actual physical location and venue of the physical casino. A first concept of the game that is in research & development will be simple “binary betting” on actual player performance in the physical casino. Imagine that, at any moment in time you will be able to see players that are participating in the live games and bet on certain people with certain outcomes. You are not participating in the games itself but betting on your favourite “hot-streaker” and high rollers.

Example 1.
A person enters a table or a game with a certain amount of chips. You can place a binary bet if this person will win or lose in the next round or dealing of that particular game.
Several other concepts that are still in idea & feasibility stage include staking the house edge and increasing the odds for your gamers or margin betting (borrowing your bankroll to players) to increase winnings for both players. In addition, we will also engage our community and token holders to submit proposals and ideas how we can expand our gaming palette and offering. All implementations and milestones will be outlined in the roadmap section and further technical details in the technical approach section.

On your note regarding the VR. We indeed have been thinking about this approach to a virtual reality online casino which will be modeled exactly how providence physical casino looks like...more exciting developments to be announced down the road as we will take it step by step first with our initial plans and operations.

[DirkDiggler1911]

If I understood correctly when you change PVE to chips you will get 1.5%  more chips as incentive,but then the other way around if u want cash out chips and get PVE no fee is required?Couldnt someone then just make easy 1.5% profit?Or the fee changing from PVE to btc/eth will be higher and that kind of exploit wont be possible?

[_J_Newman]

If I understood correctly when you change PVE to chips you will get 1.5%  more chips as incentive,but then the other way around if u want cash out chips and get PVE no fee is required?Couldnt someone then just make easy 1.5% profit?Or the fee changing from PVE to btc/eth will be higher and that kind of exploit wont be possible?

I'm sure it will be as bonuses at other casinos, you have to spend bonus plus same extra amount before you can change your chips.

[luigii]

If I understood correctly when you change PVE to chips you will get 1.5%  more chips as incentive,but then the other way around if u want cash out chips and get PVE no fee is required?Couldnt someone then just make easy 1.5% profit?Or the fee changing from PVE to btc/eth will be higher and that kind of exploit wont be possible?

Hey guys. So this "tokenback" (cashback) of 1.5% happens only when you buy into chips on the physical premises, right. So essentially, there will be staff, croupiers around that, and we have this "luxury" of seeing if someone is abusing the system like that or not. Essentially a guest can do that once but if he continues to use this "free lunch" loophole then he will be asked to either use those chips in some games or leave the premises.

What J said is usually the case in online casinos where you have to make some automated mechanisms where users have to play a certain amount before they can cash out.

[Zontop]

This bonus of 35% on investing in presale will make the difference for investors. I hope there are still few days that I will be able to manage some money to invest in this project. I have read all the available information and can't wait for all the required time because this is the nature of project. I hope other people will also keep this in mind and will not complain in post ICO era about the price on exchanges.

[orenjebum]

I really hope this project can work, because this is my first signature, and I will as much as possible to keep abreast of the project 

[btcminer49er]

What J said is usually the case in online casinos where you have to make some automated mechanisms where users have to play a certain amount before they can cash out.

So we can expect this project not to have this mechanism?

[luigii]

What J said is usually the case in online casinos where you have to make some automated mechanisms where users have to play a certain amount before they can cash out.

So we can expect this project not to have this mechanism?

Yes, this mechanism is related to online casino. However, on the online casino we might have different bonus structures or incentives which we will discuss with our marketing team. Things like: "First deposit on account gives you 10% more".  The 1,5% will always be fixed there and is tied to the actual consumption of PVE and buy-in of chips on the physical premises so we incentivize the guests to spend their tokens in the casino and resort.

[luigii]

I really hope this project can work, because this is my first signature, and I will as much as possible to keep abreast of the project 

We will not fail you orenjebum! Thanks for putting trust in us and promoting us across the Interwebs!

[Saisher]

Everything here seems legit to me but I would like to see the actual people in the team in one youtube videos, they all look like professionals in their filed to me I'm still a newbie and cannot yet participate in the signature campaign but will follow this thread as this is an interesting concept.

[luigii]

Everything here seems legit to me but I would like to see the actual people in the team in one youtube videos, they all look like professionals in their filed to me I'm still a newbie and cannot yet participate in the signature campaign but will follow this thread as this is an interesting concept.

Hi Saisher. Thanks for the honest words! We are really trying to lead this project in a very transparent and open way. Regarding the videos, at the moment, we are all a bit dislocated through different time zones and our Social Media Activites are heavily focused on visuals and content production, but we will soon be rolling out a video series of our team speaking about the project starting from the "digital" headquarters here in Croatia.

[Adykingcity]

Can we play with PVE in this casino? I think if we can play using tokens, all players will probably buy this token, and the price will keep growing

[luigii]

Can we play with PVE in this casino? I think if we can play using tokens, all players will probably buy this token, and the price will keep growing

Hi Adykingcity! Yes, of course. As a matter of fact, we encourage our users to buy PVE tokens by incentivizing them with 1,5% more chips on buy-in. Forever!

Also, we will have an exchange where you can come and exchange other cryptos for PVE so essentially there is no barrier to entry in one way or another. We will list "trading pairs" depending on our liquidity provision (BTC and ETH first). Our Providence Exchange will mostly serve as the gateway for onboarding the gamers and guests and also for our extra services that we will offer there (e.g. Volatility Protection). 

Other industry-wide exchanges on which we will eventually be listed can also be an entry point for PVEs although users will probably use it more for trading on those sites.