[HAVELOCK] CasinoBitco.in CBTC

[casinobitcoin]

@Nuc:

We must keep this confidential as part of the deal. However, it could be transitioned very quickly.

Immediate upside for investors is this would have a significant impact on our operational numbers for the upcoming periods - ideally, for the better!

[stslimited]

It is probably that casino that posted on reddit the other day with that had sent out an open letter to all their members about bitcoin

[casinobitcoin]

1.59 mm of 2.157 mm shares remaining.
Thanks for your support so far!

As a reminder, all funds of this raise will be directly used for a revenue-generating acquisition that should be completed soon - resulting in more dividends for investors!

This will be disclosed as soon as possible - however, negotiations and the transition may take time. We will be sure to keep everyone updated through the process.

[casinobitco]

Thanks for the support so far, we've sold over 54% of the offering in just 9 hours!

We're very excited not only to be approached by a respected competitor asking us to acquire them, but also fortunate to have the support of our unit holders helping us raise these funds.

We will be very happy to share details as we complete negotiations with this firm!

[davos]

Just to clarify - I probably missed this.

What was the disposition of the 27,000,000 units specified as 'privately held' in the prospectus?

Is this new offering diluting of the original 30M issued units - or were some of those unsold 27M shares issued into the treasury - if so, how many?

Basically - is 1 unit sold in the current offering still equal to 1/30,000,000 of the profits of the company? If so, this would be additive so long as it produced any revenue at all... if not, why not and what is the new number of total issued units?

[casinobitco]

Just to clarify - I probably missed this.

What was the disposition of the 27,000,000 units specified as 'privately held' in the prospectus?

Is this new offering diluting of the original 30M issued units - or were some of those unsold 27M shares issued into the treasury - if so, how many?

Basically - is 1 unit sold in the current offering still equal to 1/30,000,000 of the profits of the company? If so, this would be additive so long as it produced any revenue at all... if not, why not and what is the new number of total issued units?

Good question, and we should have clarified - no dilution whatsoever, the founders (myself and other silent partners) are giving up equity to make this acquisition happen by releasing more units to the public (float). 1 unit still represents 1/30,000,000 of CasinoBitcoin.

[bitcoin carpenter]

Nice... great approach to getting financing

[electerium]

interested investor with a few questions:


do you have a legal license to run an online gambling casino from HK, Ireland, or panama? If no, do you have any plans for such?

what contingencies do you have if there is a domain seizure notice placed on casinobitco.in in the event that it is determined that you are operating illegally out of any of those 3 countries

How do you plan on communicating with your users + investors if such a event were to occur?

Are you prepared to halt service to certain countries as the legal environment clears?

did you consider any of the scenarios or issues ive bought up when you priced your IPO?

are you audited by a gaming commission to ensure that your games are fair and the funds you claim to represent are real?

[freemarketaussie]

interested investor with a few questions:


do you have a legal license to run an online gambling casino from HK, Ireland, or panama? If no, do you have any plans for such?

what contingencies do you have if there is a domain seizure notice placed on casinobitco.in in the event that it is determined that you are operating illegally out of any of those 3 countries

How do you plan on communicating with your users + investors if such a event were to occur?

Are you prepared to halt service to certain countries as the legal environment clears?

did you consider any of the scenarios or issues ive bought up when you priced your IPO?

are you audited by a gaming commission to ensure that your games are fair and the funds you claim to represent are real?

Hi I think this link is useful to help answer some of these questions.

http://www.bitcoingg.com/bitcoin-gambling-legal/

quoted from the site:

"Simply put, if Bitcoin gambling is illegal, then the federal government should have shut these sites down already. The fact that they are still in operation only means that these Bitcoin gambling sites are not violating any gambling laws, specifically in the U.S. Therefore, U.S. players now have a way to join gambling sites without being sued for violating the U.S. gambling laws.

Because Bitcoin gambling doesn’t fall under the regulation of U.S. gambling laws, individuals can buy and sell Bitcoins using their own currencies. By exchanging your money online, you can get Bitcoins and store them in your computer or smartphones. Take note that you must have your own Bitcoin wallet in order to store your Bitcoins. Through this system, you can use your bitcoins for gambling without worrying about whether it is legal or not, because there are no gambling laws that apply to it as of the moment."

Casino sites have a market incentive to be fair with their games, otherwise they will lose customers to their competitors...

[crumbs]

...

Hi I think this link is useful to help answer some of these questions.

http://www.bitcoingg.com/bitcoin-gambling-legal/

quoted from the site:

"Simply put, if Bitcoin gambling is illegal, then the federal government should have shut these sites down already. The fact that they are still in operation only means that these Bitcoin gambling sites are not violating any gambling laws, specifically in the U.S. Therefore, U.S. players now have a way to join gambling sites without being sued for violating the U.S. gambling laws.
...

Atrocious reasoning. 
"If selling dope was illegal, Dimebag Pedro would be in jail.  Dimebag Pedro is not in jail.  Therefore, selling dope is legal."

[casinobitco]

interested investor with a few questions:


do you have a legal license to run an online gambling casino from HK, Ireland, or panama? If no, do you have any plans for such?

what contingencies do you have if there is a domain seizure notice placed on casinobitco.in in the event that it is determined that you are operating illegally out of any of those 3 countries

How do you plan on communicating with your users + investors if such a event were to occur?

Are you prepared to halt service to certain countries as the legal environment clears?

did you consider any of the scenarios or issues ive bought up when you priced your IPO?

are you audited by a gaming commission to ensure that your games are fair and the funds you claim to represent are real?

Hi, let me answer your questions one at a time. Please note I'm not a lawyer, so I urge you to do your own due diligence before investing in CBTC knowing the risks you've outlined. Further - Myself, nor my partners, will not entertain debates on what is legal or illegal in this thread since there has been no such case against a Crypto Casino / Sportsbook we collectively would all be speculating and using our own personal opinions to validate our stance. That said, we are happy to have such conversations via PM, or in the Gambling Sub-Forum.

1) License: We have been pursuing a gambling license in Panama for crypto-currencies only, and are happy to report we're making good strides with this and will have more details in the January timeframe.

2) While this is a risk we outlined in our prospectus, we considering the chances of this happening to be very slim. The UIGEA of 2006 was very particular to gambling operations dealing with money transfers, outlawing the handling and transfer of Fiat. While we don't accept Fiat, there is a chance what you mentioned could occur. Our options are as follows: 1) would be to fight it with expensive legal action, or (2) Shut off access to those countries deemed illegal. It's important to note that many legal changes have occurred, for the better, in the United States where several states have deemed Gambling Online with Fiat legal. Note that we don't accept Fiat on CasinoBitco.in, and do not have any plans to do so in the future.

3) Yes, we would be in touch via the Update module on Havelock's website and this forum

4) Yes, and we sought legal counsel when we first started up, and also speak with experts in this area on an on-going basis.

5) All games are provably fair, allowing the user to change the client seed used for the final shuffle of any hand, there is no need fo an auditor.

[freemarketaussie]

http://www.coindesk.com/seals-clubs-bitcoin-poker-site-hacked-42000-passwords-stolen/

Referring to the recent hack into SWC please confirm if such a hack would also be possible with CasinoBitco.in?

Would you look at 2 factor authentication and or a CAPTCHA as a possible solution?

I've bought some shares and also bought some of the current IPO, so far I'm happy with how things are being run. Keep it going...

[Lloydie]

Roulette is launched!

Details:
https://bitcointalk.org/index.php?topic=228243.msg3969726#msg3969726

May I suggest roulette sounds?

[casinobitco]

http://www.coindesk.com/seals-clubs-bitcoin-poker-site-hacked-42000-passwords-stolen/

Referring to the recent hack into SWC please confirm if such a hack would also be possible with CasinoBitco.in?

Would you look at 2 factor authentication and or a CAPTCHA as a possible solution?

I've bought some shares and also bought some of the current IPO, so far I'm happy with how things are being run. Keep it going...

Hi freemarketaussie

We do have 2FA on our roadmap for withdrawals (optional for users to opt-in), and feel like CAPTCHA is a bit intrusive for all logins, but if the market demands it - we will consider it. That said, we're happy to report that all passwords in our database are encrypted using bcrypt encryption, so in the event the data was compromised, no personal data would ever be revealed to the hackers. Just a reminder, we also don't store any coins on our servers!

[casinobitco]

Roulette is launched!

Details:
https://bitcointalk.org/index.php?topic=228243.msg3969726#msg3969726

May I suggest roulette sounds?

Absolutely! Added to our backlog!

Any other suggestions on Roulette? We are currently working up a plan to add a progressive feature to Roulette to encourage more action!

[Lloydie]

Roulette is launched!

Details:
https://bitcointalk.org/index.php?topic=228243.msg3969726#msg3969726

May I suggest roulette sounds?

Absolutely! Added to our backlog!

Any other suggestions on Roulette? We are currently working up a plan to add a progressive feature to Roulette to encourage more action!

Add keno/lottery. One for hourly, one daily, one weekly. Charge 1% fee or an appropriate amount. Show bet amount and payout amount prominently.

[tobasco]

In the event that the cryptocurrency makret spreads out and other coins gain popularity against Bitcoin, how do you feel about maintaining the CasinoBitco.in domain and brand?

I personally don't see any issues. Even if Peercoin (for example) achieves wider adoption for Internet transactions, "Bitcoin" will remain synonymous with "crypto" for the foreseeable future. Just wondering if you had thought about the brand name on a longer time scale.

[tobasco]

Any other suggestions on Roulette? We are currently working up a plan to add a progressive feature to Roulette to encourage more action!

Not really an interesting feature, but I know a lot of online casinos implement a "turbo mode" feature, which makes the results of each game instantaneous (no animation etc.). More for the hardened gamblers.

Also, I sometimes use a display with a 1280x720 resolution. The games are ever so slightly too large to fit within the window. It's very close and hardly unusable, but would be nice if I could see everything in my browser without ever scrolling. This is as much as I can view in Firefox:



A responsive game interface based on browser window size would be cool, but I understand this would require time to develop.

[VonSpecht]

As an investor, would be nice to know a little more about your backrounds? There's not much on the site (and I was too lazy to browse through the whole thread)...

For example, are you guys from Ireland or Hong-Kong?

From your 2nd PR Release (https://drive.google.com/folderview?id=0B2SWZWkGJ1V3UEo0Q0lESk5nd0k&usp=sharing):

"In early June 2013, Ireland-based CasinoBitco.in was launched..."

"In the rapidly growing online Bitcoin gaming space, Hong-Kong based CasinoBitco.in..."



Thanks and happy holidays (and profitable year 2014)! 

[casinobitcoin]

In the event that the cryptocurrency makret spreads out and other coins gain popularity against Bitcoin, how do you feel about maintaining the CasinoBitco.in domain and brand?

I personally don't see any issues. Even if Peercoin (for example) achieves wider adoption for Internet transactions, "Bitcoin" will remain synonymous with "crypto" for the foreseeable future. Just wondering if you had thought about the brand name on a longer time scale.

Great question.
We may consider additional brands or domains. For now, we will continue to focus on the CasinoBitco.in brand.

However, it's possible CBTC encompasses multiple properties in the future, if we feel those would draw more traffic and attention.