[ANN][ICO] CoinPoker: Poker future is today!

[Zer0Sum]

Coinpoker and CHP could be a game changer with huge potential. I read a lot of news and comments about it, most were supporting, some were sceptic.
I joined the ICO this morning and I have a good feeling my trust will be rewarded sooner or later. Good luck at the tables

The poker market is flooded with pokersites & without a massive promotion on television this site wont have a chance to gain enough traffic to survive.
I mean seriously just look at 888 its probably one of the worst interfaces you can find, but they pay millions to have their advertisment everywhere.

If they dont plan to pay millions to get advertisments on television in different countries & do more sponsorship stuff etc., this site will be dead within 2 years.

People dont care if its blockchain based or not, they care about the traffic on a pokersite & the amount of money they can win in comparison to their buy-in.


Good luck for those who invest, I am playing poker for almost 12 years now on different pokersites and I am very very sceptical about this site.

I guess if you "am playing poker for almost 12 years"...
You don't have to read the Whitepaper or play a few hours on the platform.

I've been watching the crypto poker space for 3-4 years and this is the first project that strikes the right balance:

For example...

(1)  Focus on tourneys (and moving players) to minimize collusion

(2)  HUGE giveaways of CHP to attract players. $5 million given away in March-April. Welcome pros

(3)  Very fast platform that rivals PS even at this very early stage

(4)  Anon, plus nice balance in terms of complying with global regulations

(5)  Ethereum, ethereum, ethereum

(6)  Great choice of 4% rake with caps for high stakes = long term business model

(7)  for perspective, $100 million cap puts the #1 poker project at #200 on CMC

[voteformeg]

first time that i bounced on this thread , did not hear off it before , but glad to be here , played some great plays on the pokerroom and also invested in it cause this sound realy good

[ip669]

wtb 1CHP

[traincarswreck]

Coinpoker and CHP could be a game changer with huge potential. I read a lot of news and comments about it, most were supporting, some were sceptic.
I joined the ICO this morning and I have a good feeling my trust will be rewarded sooner or later. Good luck at the tables

The poker market is flooded with pokersites & without a massive promotion on television this site wont have a chance to gain enough traffic to survive.
I mean seriously just look at 888 its probably one of the worst interfaces you can find, but they pay millions to have their advertisment everywhere.

If they dont plan to pay millions to get advertisments on television in different countries & do more sponsorship stuff etc., this site will be dead within 2 years.

People dont care if its blockchain based or not, they care about the traffic on a pokersite & the amount of money they can win in comparison to their buy-in.


Good luck for those who invest, I am playing poker for almost 12 years now on different pokersites and I am very very sceptical about this site.

The legacy sites had an effective coalition for a monopoly as the barrier to entry was extremely high cost because of regulations and payment processing restrictions. There was no competition.  It is not a matter of wasting millions on TV ads.  Thats like 10 years ago type thinking.

[pface444]

The pre-ico price was 0.05 with 30% discount included, the price now is around 0.30 cents. About 450% difference, apparently the community has decided to keep the price the same on the rise of Eth. For obvious reasons (read: "greed", "self-protection")

Be aware that you now buy with almost 4.5x more risk than the people at pre-ico, they will have a lot of reasons to cash out once this hits the exchange. One of them being 4.5* richer then those who invest now. (how is that for a Ponzi)

At 30 cents the company will be valued at 150 million at 500 million tokens time 0.30 cents. So effectively from pre-ico to today the company went from a value of 30 million to 150 million. Not because people valued it at that price, no because the price of Eth went up and the "community" decided to keep the price the same. (most ico's adapted their price but not Coinpoker)

Why do stage 1 holders bear 4.5 times the risk of the investment versus the pre-ico holders. If the price has gone up due to the rise of Eth, which I think is the reason, you are now valueing your company 5-6 times higher then the pre-ico purely on the basis of the fact that Eth rised.

That is some interesting economics. Basically all stage 1/ 2 investors bear all the risk of hoping that the pre-ico investors won't cash out when this hits the exchange (they only have 100 million coins (20%)). Now imagine what 20% does when they all sell off. The price will be unsustainable as the company was never valued at that price in the first place.

Normally you would expect to see 30 - max 40% difference between pre-ico and stage1, but not at coinpoker.

Looking at the above, Tony G seems the right man to be connected to CoinPoker and I bet ya he is in the pre-ico.

There is no logic behind this apart from greed.

This is by far the greediest ICO I 've come across and I suggest changing the ruleset, I stand corrected, I do get it wrong every now and again.

I am usually not one for spamming or bad mouthing companies or people like Tony G does, clearly that is his trademark looking at the youtube video's.

I also have not much incentive to write this as I will admit going full in on this ICO, thinking this would be a good deal, but when I noticed the amount of coins I got versus the  amount of money I spent, I straight away new I made a big miscalculation.

Unfortunately and fortunately I have done a lot of investments in Ico's lately and I assumed too quickly that being at stage 1 would still be a good deal, so quickly glanced at the numbers and tried to be in before stage ii hit.

Realistically speaking we might see the company valued on hype 2-3 times more than what it is at best, assuming everything alines perfectly (which it seldom does). But since the first pre-ico investors already had 4-6 times their initial returns there will be very little reason for them to not insta cash out, when you know everyone around you fromt he pre-ico sits on 4-6 times their initial winnings and it will max go up by another 2-3....... cause face it, this company should not be valued at 500 million plus at this early stage.

I'd would love to hear a reaction, maybe I got it all wrong! But from speaking in the chat, there was no real answer to the above apart from the "community" has chosen! The pre-ico community would have always chosen for that, nobody says no to it. When did they choose? When the price of Eth already sky-rocketed? That must have been a surprise outcome.

If anything, let this be a warning, I think there are many better ICO opportunities around.

Look at SETH for instance where they straight away decided to adapt the bonuses and amount of tokens based on the rise of ETH. It is common logic. I am not advising SETH but at least they understand what is fair.

Also in my defence, I might have gotten my maths wrong and accidentally invested in this site, but there is no valid reason for the ico price at stage 1 to be 450% more than pre-ico when they also had a 30% bonus???

People that are new in ICO's will not have the prior experience to recognize that this is really not a good deal.

[Zer0Sum]

The pre-ico price was 0.05 with 30% discount included..., the price now is around 0.30 cents.

It's actually about $0.25 and would have been $0.20 3 days ago (crypto is a moving target)...
If you trade crypto you would know that what early investors paid months ago is completely irrelevant.

It cost millions to get something like this off the ground...
And since the entire online poker universe is about 100,000 players...
CHP is already nipping at 1% market share with 300-700 players on average that I've seen.

Giving away $5 million in March will draw regs like flies to shit...
It would not shock me if CHP has a 5% market share 3 months from now. What is that worth?

I normally don't touch ICOs and focus on small cap alts... but poker is a killer app, man.

[fromthemooon]

Be aware that you now buy with almost 4.5x more risk than the people at pre-ico, they will have a lot of reasons to cash out once this hits the exchange. One of them being 4.5* richer then those who invest now. (how is that for a Ponzi)

   What are u talking about? If somebody invested in ETH at the same time as pre-ICO was opened (nov.16) he would have  3.5x with price of ETH increased from ~ 330$ to ~1100$ at the moment. And CHP increased from 0,05 EUR to ~0.26$ = 4.5x. What risk? What Ponzi?

   I'm playing poker for 7 years, 3 from them as professional and I don't like what's happening with poker for the last time. Amaya with buying PokerStars turned poker to casino and as they are monopolist, players can nothing do with that. CoinPoker gives some hope for improvement of poker global situation as for now this game is stagnating because of regulations.

   Even if the people from pre-ico will sell their CHP's that would make price of CHP decrease, there will be a lot of players who will be happy to buy it for lower price. CoinPoker are promising to return 15% of the coins raised in the ICO coins back to the community with added prize pool for tournaments. As a poker player I can surely say it will attract poker pros who counting EV.  And this is going to be really good expected value.

CoinPoker it is not only about crypto, it is also about the game..

[pface444]

The pre-ico price was 0.05 with 30% discount included..., the price now is around 0.30 cents.

It's actually about $0.25 and would have been $0.20 3 days ago (crypto is a moving target)...
If you trade crypto you would know that what early investors paid months ago is completely irrelevant.

It cost millions to get something like this off the ground...
And since the entire online poker universe is about 100,000 players...
CHP is already nipping at 1% market share with 300-700 players on average that I've seen.

Giving away $5 million in March will draw regs like flies to shit...
It would not shock me if CHP has a 5% market share 3 months from now. What is that worth?

I normally don't touch ICOs and focus on small cap alts... but poker is a killer app, man.

Well u may correct me if I am wrong, but why would the price of a token (the value of a company) be related to the ETH price. Why wouldn’t I get 3.5x times more tokens when Eth goes up 3.5 times, when in effect the value of the company hasn’t changed.
Right now the ico seems to suggest that the token is really worth 0.25 cents whereas what really happened is that you still get the same tokens for 1 ETH. Ie. stage 1 investors that pay with Ethereum effectively are getting the same value from that ether before it rose 3.5 times. Yes your Ether has still the same buying power at coinpoker as in nov 2017 how is that fair?
The painful thing is, if this is your first ico it will be very hard to see this, people iwll buy in not kowing that the price is bloated.

For example, I invested in vibe ico at 0.009 cents they have around 270 million chips, they ran the ico in such way that everyone get’s their bonuses depending on the stage they are in.
Then at the end of the ico they looked at the evaluation of the company which was 2.4 million $ and they divided that through 270 million tokens. Which makes around 0.009 cents. For 1500$ that bought me 150k tokens.

the pre ico of coinpoker sold 100 mill tokens at 30%. at a price 0.05, which is 5 million$ in the pre ico?.
Ie. if they sold all 500 million tokens at 0.05 cents the company would have bene worth 25 million. Now we are looking at an evaluation of 100+  mill? Why? Not because of demand, but because of the rise in Eth. price.
I strongly feel People don’t realise this is a really bad deal. if it was still valued at 25 million I would have gotten around 30000 chips for 1500$, now I only get 6000 chips for 1500$? 

Now is coinPoker really worth that much more compared to a revolutionary idea that vibe offer. They have hardly any competition in their area of expertise, yet pokersites are very hard to start up as they will face a lot of competition and as it is difficult  to make money from poker. (i have played poker for 10 years as well, played millions of hands online) Y I agree blockchain and lower rake will make a difference but it wil have to prove itself since many have failed.

The token was never really worth 0.25 cents in the first place. You can only evaluate a company fairly once the ico is over, not during an ico. Unless you trade the tokens on an exchange like EOS does.

The software for sure doesn’t look like it should be valued at this price. A lot of red alarm bells imo.
I will leave it at that, I admit my maths may be out here and there, but you can’t ignore the fact that without the ico being finished yet the price of the ico is bloated, and gives an unfair advantage to those who were lucky enough in the pre ico. They already had their 30% bonus which they signed up for, not a 400% bonus which they now seem to be getitng compared to stage 1investors.

Hiding this info feels wrong and on any level this doesn’t make sense.

In nay case since there is a high likelyhood for this thing to crash when it hits the exchange(pre-ico people will cash out) you are better off waitng for this thing to hit the exchange and thank me later.

[aa112112]

Well u may correct me if I am wrong, but why would the price of a token (the value of a company) be related to the ETH price. Why wouldn’t I get 3.5x times more tokens when Eth goes up 3.5 times, when in effect the value of the company hasn’t changed.

You seem to misunderstand how this works. The token in this case is currency that players use on the poker platform. It has nothing to do with the company or its profits like other ICOs.

[Zer0Sum]

The pre-ico price was 0.05 with 30% discount included..., the price now is around 0.30 cents.

It's actually about $0.25 and would have been $0.20 3 days ago (crypto is a moving target)...
If you trade crypto you would know that what early investors paid months ago is completely irrelevant.

It cost millions to get something like this off the ground...
And since the entire online poker universe is about 100,000 players...
CHP is already nipping at 1% market share with 300-700 players on average that I've seen.

Giving away $5 million in March will draw regs like flies to shit...
It would not shock me if CHP has a 5% market share 3 months from now. What is that worth?

I normally don't touch ICOs and focus on small cap alts... but poker is a killer app, man.

the pre ico of coinpoker sold 100 mill tokens at 30%. at a price 0.05, which is 5 million$ in the pre ico?.
Ie. if they sold all 500 million tokens at 0.05 cents the company would have bene worth 25 million. Now we are looking at an evaluation of 100+  mill? Why? Not because of demand, but because of the rise in Eth. price.
I strongly feel People don’t realise this is a really bad deal. if it was still valued at 25 million I would have gotten around 30000 chips for 1500$, now I only get 6000 chips for 1500$?  

Now is coinPoker really worth that much more compared to a revolutionary idea that vibe offer. They have hardly any competition in their area of expertise, yet pokersites are very hard to start up as they will face a lot of competition and as it is difficult  to make money from poker. (i have played poker for 10 years as well, played millions of hands online) Y I agree blockchain and lower rake will make a difference but it wil have to prove itself since many have failed.

Q: Do you know what is "worth" $20 million in the 2017-18 crypto bubble?
A: Garbage like MYST that has no working product 6 months after the ICO. Just a lot of idiotic pics of random Lithuanians = $20 million

Q: Do you know what is "worth" $1000 million in the 2017-18 crypto bubble?
A: 3 years of vaporware like REP = $1 billion with "investors" still thinking they are gonna hit the jackpot

If you insist on wearing rational finance blinders...
You did not get rich in 2017 and will never make a dime in crypto. Sorry

[TonyGaruda88]

I think this is a pretty good project and unique. As we know, poker is now worldwide. What makes it interesting is CoinPoker will ensure full transparency through the use of blockchains. So, I think investors can use this CoinPoker project jada. Good luck dev

[pface444]

Well u may correct me if I am wrong, but why would the price of a token (the value of a company) be related to the ETH price. Why wouldn’t I get 3.5x times more tokens when Eth goes up 3.5 times, when in effect the value of the company hasn’t changed.

You seem to misunderstand how this works. The token in this case is currency that players use on the poker platform. It has nothing to do with the company or its profits like other ICOs.

I think you are right, I don’t see how the usecase of this token is different compared to the use case of vibe, where you pay content for vibe. In the end the marketcap of coinpoker is what most people will judge this company on?

Why else would you trade it? Either way, I still think that early investors being at stage 1 seem to get a really shitty deal. The whole idea of an ico is that you bear the risk for potential nice returns.... I am now feeling a lot of risk for potentially very little return. Luckily I am a reasonable poker player so if all fails I might play poker on the platform and hope to make some returns.

On the other hand maybe you are right maybe I am misunderstanding the concept here. On that note could someone clarify, explain to me why being at stage 1 (whihc should be an early stage in the ico)is over 3-4 times worse then being at pre-ico?? Am i seeing this wrong?

And explain to me, or anyone out there why this is still a good deal, because I can’t see it.

[Trade-coin.Ico]

An ico project will have a lot of risks. But many people invest because they take risks to get profits.

[unmas]

Why no newbie in bounty? Always saying for a jr member and up

[rain_wins]

Poker industry is bigger business than most people think the your are building very good product. Maybe someday you can beat PokerStars.com

[Zer0Sum]

Here's the 2+2 thread:

https://forumserver.twoplustwo.com/28/internet-poker/ann-ico-coinpoker-poker-future-today-1694786/index14.html

There is a steady stream of grinders QUIETLY moving to CHP...
The tourneys are still really soft and any grinder should be able to stack 1000s in CHP free rolls.

That's how you do it... money for nothing and the chicks for free 

[voteformeg]

Well u may correct me if I am wrong, but why would the price of a token (the value of a company) be related to the ETH price. Why wouldn’t I get 3.5x times more tokens when Eth goes up 3.5 times, when in effect the value of the company hasn’t changed.

You seem to misunderstand how this works. The token in this case is currency that players use on the poker platform. It has nothing to do with the company or its profits like other ICOs.

I think you are right, I don’t see how the usecase of this token is different compared to the use case of vibe, where you pay content for vibe. In the end the marketcap of coinpoker is what most people will judge this company on?

Why else would you trade it? Either way, I still think that early investors being at stage 1 seem to get a really shitty deal. The whole idea of an ico is that you bear the risk for potential nice returns.... I am now feeling a lot of risk for potentially very little return. Luckily I am a reasonable poker player so if all fails I might play poker on the platform and hope to make some returns.

On the other hand maybe you are right maybe I am misunderstanding the concept here. On that note could someone clarify, explain to me why being at stage 1 (whihc should be an early stage in the ico)is over 3-4 times worse then being at pre-ico?? Am i seeing this wrong?

And explain to me, or anyone out there why this is still a good deal, because I can’t see it.

maybe next time , first you read the concept and then you invest , and yes always better to invest in earlier stages , maybe more risks , but almost always better profits

[hmmmmmm]

Just found this, checked the whitepaper and can't believe what I just read. Even more confusing is the fact people have invested tens of millions dollars to this. Plus that there is pages of conversation about the subject on multiple sites and almost everybody ignores pretty important fact:

The fact is that Coinpoker chips (CHP) are actually nothing else than play money poker chips! Yes you read correctly. There is absolutely no reason whatsoever why those chips should have any value. They just have made new pokersite based on blockchain, printed 500,000,000 poker chips to play with and claim that those chips should have some value based on demand or something like that. Why would anybody pay anything for tokens that can only be used to play poker in their platform, no-one quarantees any value for chips and those cannot be used for anything else. They are just like any other play money except they have limited supply, that of course shouldn't give them any value, anybody can print any tokens they like everyday. E.g. if pokerstars limited their play money chips to 500,000,000 and opened exchange to buy/sell those, does that give them value? Well it would be exactly like this. Of course it seems that people for some mysterious reason are giving them value buy partipating in their ICO:s and buying those. Sadly for those who have invested, the prize of CHP:s should be zero soon after those chips open to exchange.

And if for some reason those chips held value some time after exchange opened and playing had begun there would be some problematic possibilities. Few examples:

1. What happens when winner(s) of opening tournaments want to cash out.. There are pretty big added value put in those tournaments + normal buyins so winners would get at least millions of those chips. Those big winners/runner ups etc. would likely to want cash out after tournament.. Well what happens when all winners go to exchange at the same time to try to sell those piles of chips (= even multiple % of total supply of coins) to get real money.. There most likely isn't even close enough volume in market to make those sell orders happen at current prize if at all. So you buy CHP:s at 0.3$ or something per unit before tournament and if u happen to win u cant sell those tokens anywhere close that prize.. Only thing you can try is to sell small portions at a time and hope that value of chip doesn't go down. This applies to any other big cashout as well.

2. Since there is 4% rake that eats available tokens at fast rate, Coinpoker has to sell those coins back to circulation in exchange which itself lowers coin prize if inflow/outflow otherwise is balanced.

3. If overall interest for any reason to play at Coinpoker decreases, coin starts to lose value because more selling than buying happens, which even more accelerates people leaving from site ---> value decreases.. ultimately this leads to coins having zero value. Of course even earlier when there is not enough growth potential left there would be massive sell offs at some point by ICO/crypto investors who wasn't interested in poker anyway ---> prize crashes down, people starts to leave ---> and so on..

There are numerous other problematic instances I could mention but there shouldn't be any reason to consider anything like that at all. The coin should have zero value to start with, there are multiple sites and platforms to play with printed tokens, there is no difference in comparison to this.

[mighsack]

It's good to see that the company is growing!

[bertojackswit]

this project has a lot of potentials and im waiting for it to show, like better development, so i kept my eyes on this project , because i believe in this project that it will have a big success in the near future. goodluck dev/team.