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

[luigii]

That would be a great way to introduce altcoins to a new audience. I guess people who already gamble in that physical casino will start buying tokens just to be able to play in the same place. That way, a new audience will become familiar with crypto.

not just play, like in other casino... with PVE you can earn more, never lose... depends how on market stand

Exactly. Those familiar with the markets can easily use that to their advantage and know when to play or when to hold

Doesn't that go against houses interest? I mean, come on, the house always wins

Well, technically the house and the "edge" is finished once the user goes to cash out. He already played his game and is either in profit or loss compared to the initial entry. The service of hedging is something more related to the exchange and how we as an operator are going to hedge while users use the lockdown mechanism.

[Desmozgenes]

That would be a great way to introduce altcoins to a new audience. I guess people who already gamble in that physical casino will start buying tokens just to be able to play in the same place. That way, a new audience will become familiar with crypto.

not just play, like in other casino... with PVE you can earn more, never lose... depends how on market stand

Hm,if you can earn more and in the same time never loose,can that be abused ?For example,playing abit,loosing some insignificant amount and then cash out and wait those 72 hours and maybe get even more?

Or i misunderstood  that concept?

[luigii]

That would be a great way to introduce altcoins to a new audience. I guess people who already gamble in that physical casino will start buying tokens just to be able to play in the same place. That way, a new audience will become familiar with crypto.

not just play, like in other casino... with PVE you can earn more, never lose... depends how on market stand

Hm,if you can earn more and in the same time never loose,can that be abused ?For example,playing abit,loosing some insignificant amount and then cash out and wait those 72 hours and maybe get even more?

Or i misunderstood  that concept?

Hey guys! Yes I think you might have understood it a bit wrong. So the game time in the physical casino itself is not related to the service which we call vollatility protection mechanism. This service will be on the exchange and only available to to the guests at physical premises. This service can be activated only when the player is done with playing (NOT during game time) and proceeds to cash out his winnings (or losses). But it is one fixed amount at that time. In that moment, when he changes that particular amount for PVE he will have the abillity to use that service. A detailed blog post has it explained here: https://medium.com/@providence.casino/at-providence-you-are-protected-from-cryptocurrency-price-volatility-2c5d7c62c45a.

Let me know if there is anything else I can clarify!

[chocobo21]

That would be a great way to introduce altcoins to a new audience. I guess people who already gamble in that physical casino will start buying tokens just to be able to play in the same place. That way, a new audience will become familiar with crypto.

not just play, like in other casino... with PVE you can earn more, never lose... depends how on market stand

Exactly. Those familiar with the markets can easily use that to their advantage and know when to play or when to hold

Doesn't that go against houses interest? I mean, come on, the house always wins

Well, technically the house and the "edge" is finished once the user goes to cash out. He already played his game and is either in profit or loss compared to the initial entry. The service of hedging is something more related to the exchange and how we as an operator are going to hedge while users use the lockdown mechanism.

And there's also transaction tax that's going to the house? like exchanges have fees?

[seejack]

I think that your team have got a clear path what to do .This coin is going to be successful I think

[_J_Newman]

Hi

What we get with gold and silver card? What is my benefit? 

Hi aalmina! Excellent question!

1)The cards are melted and crafted from 18 Karat Gold and Silver Sterling. Hardening, calcination at the right temperature to make the cards what they are, peerless gems!
2)It will be linked to Providence Exchange
3)Extra goodies and perks will be announced along the way (discounts, priority pass) and we are in discussion for more benefits
4)They are limited edition and only pre-sale contributors will have them.

This is a great idea, but there shouldn't be a limit to pre-sale.
Such cards should be owned by "big players".

[BurntSnow]

Its really an interesting idea to have a physical casino based on crypto. Have you ever built hotels before? Do you have any experience with tourism?

[luigii]

That would be a great way to introduce altcoins to a new audience. I guess people who already gamble in that physical casino will start buying tokens just to be able to play in the same place. That way, a new audience will become familiar with crypto.

not just play, like in other casino... with PVE you can earn more, never lose... depends how on market stand

Exactly. Those familiar with the markets can easily use that to their advantage and know when to play or when to hold

Doesn't that go against houses interest? I mean, come on, the house always wins

Well, technically the house and the "edge" is finished once the user goes to cash out. He already played his game and is either in profit or loss compared to the initial entry. The service of hedging is something more related to the exchange and how we as an operator are going to hedge while users use the lockdown mechanism.

And there's also transaction tax that's going to the house? like exchanges have fees?

Hey. Great question!
1) So if a player comes with PVE and buys into chips, we have an incentive mechanism of 1,5% more credits on the buy-in.
2) On the cash out from chips to PVE, there is no fee involved as the payout will be handled from an exchange "master account" that will essentially serve as the casino bankroll for buyins/cashouts.
3) Further transactions into other cryptos or normal trading with other listed pairs that we will gradually onboard on the exchange like bitcoin and eth (depending how we scale on our own liquidity and the liquidity providers) will then come under operation exchange fees like similar to ones in the industry (around 0,2%)

[luigii]

I think that your team have got a clear path what to do .This coin is going to be successful I think

Thanks seejack for your kind words! Of course, it will. We are in it for the long run

[luigii]

Hi

What we get with gold and silver card? What is my benefit? 

Hi aalmina! Excellent question!

1)The cards are melted and crafted from 18 Karat Gold and Silver Sterling. Hardening, calcination at the right temperature to make the cards what they are, peerless gems!
2)It will be linked to Providence Exchange
3)Extra goodies and perks will be announced along the way (discounts, priority pass) and we are in discussion for more benefits
4)They are limited edition and only pre-sale contributors will have them.

This is a great idea, but there shouldn't be a limit to pre-sale.
Such cards should be owned by "big players".

Hey J! Well this is a question of exclusivity and availability. We want to stay exclusive and use this batch of cards for the pre-sale "high" contributors. We actually had this discussion and we will most likely roll out some special card for the "high-rollers and big players" although it will be probably a different design and unique in some different aspect. This one remains exclusive to the pre-sale aficionados 

[luigii]

Its really an interesting idea to have a physical casino based on crypto. Have you ever built hotels before? Do you have any experience with tourism?

Hi BurntSnow!

Yes, our management team and in specific Mr. Michael Doherty has several companies owning real estate which also has hotels built on them run by Professional Hotel Operators. We have several bids as of now and due diligence and evaluation of applicants are in fact been done at this time as the Engaged Operators will have to abide by our crypto concept.We will announce the Casino Operator and Hotel Operator who will be managing our Crypto Casino and Resort in due course.

On the other hand, the team and me that is managing the digital and crypto part of the business have extensive experience in leading digital strategies and implementation for the hospitality and entertainment industry. Some of the projects and clients we worked before include http://www.adriaticluxuryhotels.com/en, http://fresh-island.org/ and Croatian Bitcoin Portal (http://crobitcoin.com/ although now we have a whole new crypto layer above!

One more thing is to mention that 4/10 team members (myself included) come from Croatia, which is tourism-reliant country and has the biggest share of tourism in GDP among all countries in Europe (18%) so a lot of projects and experience went through our hands in this sector. Hell, I even have family business (http://sailsadria.com/) 

[luigii]

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4 000 000 of the total amount of PVE tokens will be available for this Bounty campaign pool. 


Bitcointalk.org Signature Bounty - 30% - 1 200 000 PVE

Blogs and Media Bounty- 20% - 800 000 PVE

Translation and Moderation Bounty - 20% - 800 000 PVE

Facebook Bounty - 10% - 400 000 PVE

Twitter Bounty - 10% - 400 000 PVE

Linkedin Bounty - 10% - 400 000 PVE

If you are interested in Providence Bounty Campaign, feel free to venture to this thread -->https://bitcointalk.org/index.php?topic=2196188.0<-- to get involved

Boba Fett Approved! 

[Desmozgenes]

That would be a great way to introduce altcoins to a new audience. I guess people who already gamble in that physical casino will start buying tokens just to be able to play in the same place. That way, a new audience will become familiar with crypto.

not just play, like in other casino... with PVE you can earn more, never lose... depends how on market stand

Hm,if you can earn more and in the same time never loose,can that be abused ?For example,playing abit,loosing some insignificant amount and then cash out and wait those 72 hours and maybe get even more?

Or i misunderstood  that concept?

Hey guys! Yes I think you might have understood it a bit wrong. So the game time in the physical casino itself is not related to the service which we call vollatility protection mechanism. This service will be on the exchange and only available to to the guests at physical premises. This service can be activated only when the player is done with playing (NOT during game time) and proceeds to cash out his winnings (or losses). But it is one fixed amount at that time. In that moment, when he changes that particular amount for PVE he will have the abillity to use that service. A detailed blog post has it explained here: https://medium.com/@providence.casino/at-providence-you-are-protected-from-cryptocurrency-price-volatility-2c5d7c62c45a.

Let me know if there is anything else I can clarify!

Ok,i got the idea now,thank you for explaining.

The more info im getting,the more im convinced your are onto something big.Keep up the good work!

[luigii]

That would be a great way to introduce altcoins to a new audience. I guess people who already gamble in that physical casino will start buying tokens just to be able to play in the same place. That way, a new audience will become familiar with crypto.

not just play, like in other casino... with PVE you can earn more, never lose... depends how on market stand

Hm,if you can earn more and in the same time never loose,can that be abused ?For example,playing abit,loosing some insignificant amount and then cash out and wait those 72 hours and maybe get even more?

Or i misunderstood  that concept?

Hey guys! Yes I think you might have understood it a bit wrong. So the game time in the physical casino itself is not related to the service which we call vollatility protection mechanism. This service will be on the exchange and only available to to the guests at physical premises. This service can be activated only when the player is done with playing (NOT during game time) and proceeds to cash out his winnings (or losses). But it is one fixed amount at that time. In that moment, when he changes that particular amount for PVE he will have the abillity to use that service. A detailed blog post has it explained here: https://medium.com/@providence.casino/at-providence-you-are-protected-from-cryptocurrency-price-volatility-2c5d7c62c45a.

Let me know if there is anything else I can clarify!

Ok,i got the idea now,thank you for explaining.

The more info im getting,the more im convinced your are onto something big.Keep up the good work!

No problem, that's why I'm here. I'm glad you are getting fond of the project! We will do our best to elevate this project to the maximum highs, and thank you all for showing interest and support! 

[umycantik]

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

[btcminer49er]

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

I don't think the prices are unreasonable.
Better than most of the ICO's out there

[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.

[cryptoUKManiac]

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?

[DirkDiggler1911]

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..

[dishku]

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.