ICO - Legitimate with Huge Potential

[Coldsnap4457]

Its good project and good concept. But recently, there are some project based on gambling rise, so how you can make sure that this project will be success? I think there are competition between them and make it not that easy.

There is no way to make sure that any project will be success, not even ones that Vitalik is involved with. But it has a better chance than most projects.

There's competition with casino, computer gaming and sports etype of gambling. But I'm not aware of any project that is focused on stock betting.

They list their competitors in the white paper which are Ig, Binary, Nadex. These are the big old school financial betting sites that Stockbet wants to replace. Blockchain competitors are Gnosis and Augur, which are prediction markets, which are indirect competitors. Augur has Vitalik on team and after 2 and half years they still have less developed than Stockbet

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[Coldsnap4457]

Overstock Shares Surge 30% After $500 Million ICO Announcement
https://www.cryptocoinsnews.com/overstock-shares-surge-30-after-500-million-ico-announcement/

Overstock shares have gone up 200% in a year largely because of their ICO.

A Stockbet round was started for Overstock:

https://stockbet.com/#/BullBear/round/17972

This stock has gone haywire.

[Coldsnap4457]

interesting project, can't wait to see the financial world's response to this, I'm pretty sure they are paying attention to everything going on in blockchain development, let's see how much of that options market stockbet can get as well as change it since the whole social media idea and the cost reduction through smart contracts is quite the leg up on the existing alternatives.

I wonder if Jamie Dimon is watching us and trying to find ways to bash us.

[Yuuto]

Recently there has been a lot of gambling ICOs, with Bitdice etc.

I think the idea of social competition where people can match up with each other instead of having to deal with a boring order book is great and will boost the business. However whether or not an ICO is going to be worth an investment is doubtful.

Where are the token's value actually going to come from?

[joinfree]

StockBet is an user in this forum and has been posting a lot during this days, i dont know if they are the real owners or have something to do with this Ico, but they are creating a lot of threads in bitcoin section.
anyway, i will never trust in ico's again, most of them are scam a lot of people have been losing money because of them. So i prefer to stay away and still earn some money through other kind of projects.
utrust was one of the best, but it has turned to a shady mode, i dont like how it is going.

[Coldsnap4457]

Recently there has been a lot of gambling ICOs, with Bitdice etc.

I think the idea of social competition where people can match up with each other instead of having to deal with a boring order book is great and will boost the business. However whether or not an ICO is going to be worth an investment is doubtful.

Where are the token's value actually going to come from?

Yes there has been a lot of gambling ICOs, but most are casino or computer gaming type gambling. Stockbet is the only one focused on financial betting that I'm aware of.

The token's value is going to come from multiple sources

- Winnings. Token holders are like the house. The house always wins.
- The white paper says that a % of the house cut will be burned. So with deflation, the tokens will go up in value
- Demand. Let's say people want to gamble in total $1 billion worth. They'll have to buy Stockbet tokens to do this. This will drive up demand for Stockbet tokens and its value.

[Yuuto]

Recently there has been a lot of gambling ICOs, with Bitdice etc.

I think the idea of social competition where people can match up with each other instead of having to deal with a boring order book is great and will boost the business. However whether or not an ICO is going to be worth an investment is doubtful.

Where are the token's value actually going to come from?

Yes there has been a lot of gambling ICOs, but most are casino or computer gaming type gambling. Stockbet is the only one focused on financial betting that I'm aware of.

The token's value is going to come from multiple sources

- Winnings. Token holders are like the house. The house always wins.
- The white paper says that a % of the house cut will be burned. So with deflation, the tokens will go up in value
- Demand. Let's say people want to gamble in total $1 billion worth. They'll have to buy Stockbet tokens to do this. This will drive up demand for Stockbet tokens and its value.

True. Thanks for your clarification.

So the plan is when the ICO ends, every single bet will be processed in the tokens that are sold in the initial ICO stage, correct? I mean this is definitely interesting and i've personally wanted something like this(1v1 bets) for a long time.

Hopefully more people can hear about this project

[Coldsnap4457]

So the plan is when the ICO ends, every single bet will be processed in the tokens that are sold in the initial ICO stage, correct? I mean this is definitely interesting and i've personally wanted something like this(1v1 bets) for a long time.

Hopefully more people can hear about this project

As far as I know.

[Coldsnap4457]

I mean this is definitely interesting and i've personally wanted something like this(1v1 bets) for a long time.

Join in one of the bets:

Overstock:  https://stockbet.com/#/BullBear/round/17972

Bitcoin:  https://stockbet.com/#/BullBear/round/17973

Ethereum:  https://stockbet.com/#/BullBear/round/17970

[Smokey Bob]

I think another ICO that seems very promising is the Universa ICO that started yesterday.

Wrote a little article about it, anyone wants to read: http://financestudentreflections.blogspot.no/2017/10/universa-next-big-thing-in-crypto.html

They claim to have 1000x faster transactions than Bitcoin and 100x cheaper.

[Coldsnap4457]

Stockbet’s token sale starts in 2 hours

[Coldsnap4457]

utrust was one of the best, but it has turned to a shady mode, i dont like how it is going.

about utrust https://bitcointalk.org/index.php?topic=2243157.msg23632808#msg23632808

Stick with ico’s that have working software

[Tekunda]

I was about to invest some money in the stockbet token sale when in the very last second it caught my eye that US and Chinese citizens are not included in the sale.
Now will the company not loose out on a huge and affluent customer base by excluding these two nations and will this not hamper any future success?
I guess there will be legal reasons for this, but nevertheless I am a bit worried.
Until I saw this I was quite excited to join the token sale, now not so much anymore.
What is your opinion?

[Tekunda]

I was about to invest some money in the stockbet token sale when in the very last second it caught my eye that US and Chinese citizens are not included in the sale.
Now will the company not loose out on a huge and affluent customer base by excluding these two nations and will this not hamper any future success?
I guess there will be legal reasons for this, but nevertheless I am a bit worried.
Until I saw this I was quite excited to join the token sale, now not so much anymore.
What is your opinion?

This is the response from Stockbet customer service regarding the restrictions of US customers. It sounds legit:


The SEC warned the community that the DAO (investment fund on Ethereum) is a security.  After this warning period, they have charged two ICOs with fraud:

http://fortune.com/2017/10/01/sec-ico-fraud-charges/

We do not know for certain that these are the only ICOs that regulators have charged or how many more they will charge.

Even though we are not committing fraud and we do not believe we are selling a security, we wanted to be conservative and not take the chance that the SEC finds something wrong in our argument.  We believe that we have a huge opportunity, but we are restricted by this risk.

Maybe we are overly cautious.  There have been hundreds of ICOs that were selling securities.  Regulators have not charged them yet.

According to the Fortune article:

"The SEC, though, doesn’t seem to be looking to shut down ICOs as such. The agency’s targeted and graduated approach to regulation could help scare away fraudsters, while preserving the positive features of the technology, particularly its ability to raise funds globally with little friction and few fees.

That could give the U.S. a big edge over countries, now including China and South Korea, who have taken more draconian measures to suppress the technology."

So, as far as we can tell, regulators still have not charged any ICO for selling securities.  This is extraordinarily lenient of regulators, which have charged much smaller dealers for selling securities in the past.  We might reassess our policy.

Selling StockBet Tokens and betting on StockBet are two different things.  The intention is for us to build the StockBet Platform software and release it as open source software to the community.  The community will then let, or not let, U.S. customers bet on the StockBet Platform.

[Mer1dian]

We are doing something different, me and my co-founder made uFrame, a MVVM development platform for the Unity3D Game Engine

We are incorporated in the U.S.A

www.blockarray.com/whitepaper - would be happy to talk to anyone about our project and what we are trying to do

basically linking barcodes to the blockchain using GS1 (the standards org that regulates barcodes) specifications for a system they call Object-Name-Service (DNS for Barcodes)

They never implemented it because they were worried about, of all things, a centralized service

let me know what you guys think

[NathanJB]

StockBet is an user in this forum and has been posting a lot during this days, i dont know if they are the real owners or have something to do with this Ico, but they are creating a lot of threads in bitcoin section.
anyway, i will never trust in ico's again, most of them are scam a lot of people have been losing money because of them. So i prefer to stay away and still earn some money through other kind of projects.
utrust was one of the best, but it has turned to a shady mode, i dont like how it is going.

Betting sites, roulette, and other kinds of gambling that use or accept cryptocurrencies may be the future but the competition is already very strong and vibrant that these people might have used all kinds of means to promote their own ICOs. There are already ruling major gambling sites using crypto. This new project must prove to the rest of the gamblers that their own is the best by putting on the table their edge. ICOs are full of scams, let us choose wisely.

[Zerosk]

It's easier than you think to identify whether an ICO is legitimate or if it is a Fraud. Find a list with todo's bellow:

Read the White Paper and try to identify whether the Token is Security or Utility.
Read the Token Agreement and check if there is a legal entity. Check the Jurisdiction and search if it is a legal entity.
Search for the Founders to find out if they are real person.

Then you can decide if it is legit or not

[dunghoang]

@Coldsnap4457
Thanks