BetKing.io is a blatant scam operated by Dean Nolan

[BetKing.io]

There still doesn't seem to be any actual token holders asking questions or worrying.
Just JollyGood posting false info and repeating nonsense over and over.

If there's any actual token holders with questions I'm happy to answer them. Just pm me your betking username that has token balance or proof of an eth address you own with tokens in it
.

[JollyGood]

Almost nothing as no one wants to buy it.  If people wanted it then there would be a value but as you can see the demand is so low that it's about as much use as a chocolate teapot.

HitBTC charges a disgusting 331 BKB fee to withdraw from what I remember. I wanted to buy some a few months ago, but opted not to due to the fee.

Why would Dean Nolan want to list Betking there on HitBTC then? Another piece of classic mismanagment from him.

[DarkStar_]

Almost nothing as no one wants to buy it.  If people wanted it then there would be a value but as you can see the demand is so low that it's about as much use as a chocolate teapot.

HitBTC charges a disgusting 331 BKB fee to withdraw from what I remember. I wanted to buy some a few months ago, but opted not to due to the fee.

Why would Dean Nolan want to list Betking there on HitBTC then? Another piece of classic mismanagment from him.

Because, more exchanges is better, it's probably easy to list, it's not a bad option for whales, and I doubt HitBTC specifically stated that the withdraw fee for your token is X

[JollyGood]

Almost nothing as no one wants to buy it.  If people wanted it then there would be a value but as you can see the demand is so low that it's about as much use as a chocolate teapot.

HitBTC charges a disgusting 331 BKB fee to withdraw from what I remember. I wanted to buy some a few months ago, but opted not to due to the fee.

Why would Dean Nolan want to list Betking there on HitBTC then? Another piece of classic mismanagment from him.

Because, more exchanges is better, it's probably easy to list, it's not a bad option for whales, and I doubt HitBTC specifically stated that the withdraw fee for your token is X

Well since he still has millions in crypto from the ICO he should pay to add it to a few more exchanges if he believes in the project.

[game-protect]

Deal Nolan is still asking for investors to buy his Betking Tokens: https://betking.io/invest

Has he no shame? The following is from his Betking website:

The token value is calculated as:

I + (P /100,000,000)

Where I is the initial token price after the IC0, $0.09286 and P is the total site profit from all games and currencies at the current exchange rate in $.

For example, if the site profit was 100 Bitcoin and the current price of Bitcoin was $8000 then the BKB price would be:

$0.09286 + ((100*8000) / 100,000,000) = $0.10086

What a load of rubbish. Of the 100 million Betking tokens created how many did Dean Nolan keep for himself?

Of the 100 million Betking tokens, 70 million were supposed to be distributed for ICO investors and Dean Nolan has kept 30 million yet is selling more?

https://betking.io/ico:
"70 million will be available for sale to crowdsale participants.
30 million will be retained by BetKing for ICO bounties, testing bounties, advisors, hiring, future marketing and development."

Let us look at the example Dean Nolan has provided on his website and change the figures a little bit:

For example, as of today 31st July 2018 Betking Tokens are unsold and unwanted on HitBTC at 0.000007 BTC but let us continue with the example. If the site profit was 85 Bitcoin (which is correct as of today: https://betking.io/stats) and the current price of Bitcoin was $7577 (which is correct of today) then the BKB price would be:

$0.09286 + ((85*7577) / 70,000,000)  = $0.1021 -  not including the 30 million Betking Tokens that Dean Nolan did not release to the public
$0.09286 + ((85*7577) / 100,000,000) = $0.0993 - including the 30 million Betking Tokens that Dean Nolan did not release to the public

Why is Dean Nolan making a profit for himself on the 30 million Betking Tokens that were not released to the public? $0.0028 profit per token as per todays rates are going towards the 30 million tokens Dean Nolan has not released to the public. That shows $84,000 at the moment for the exact calculation is 30 million Betking Tokens x $0.0993 = $2,979,000 for his own pocket.

For investors it means 70 million Betking Tokens x $0.0993 = $6,951,000 for investors who can only sell back 10% of their holdings in the buy-back meaning anybody wanting to sell MUST keep hold of 90% their tokens at any given time because they cannot sell them on HitBTC because they are virtually useless and worthless. they have to wait for Dean Nolan to implement his buy-back. this ties investors in for many, many years.

Why did the ICO go ahead and why did he propose it going ahead with Betking Tokens as the currency in US$?

Payout in Bitcoin, Ethereum or Litecoin (the 3 crypto used in the ICO) would have been appropriate. At least if investors received in profit instead of US$ they might have a better chance to get some funds back.

The ICO investors got duped. I feel so sorry for them. Dean Nolan is the only winner in this pathetic charade called Betking

https://bitcointalk.org/index.php?topic=2150057.msg25690641#msg25690641

I think one problem is that you are an incompetent moderator of this thread!

Key points are

- Ever wanted to own your own casino?

- With BetKing Bankroll Token you can be the house and get a share of the profit BetKing earns!

- P is the total site profit from all games and currencies at the current exchange rate in $.

The token value is calculated as:

I + (P /100,000,000)

Where I is the initial token price after the IC0, $0.09286 and P is the total site profit from all games and currencies at the current exchange rate in $.

With sending crypto currencies to BetKing you are a partial owner of the casino and part of the house. If you are a partial owner and part of the house, then you always participate in value increasements or decreasements of the bankroll.

Something totally different is if you give BetKing a loan with a yearly interest rate. Whatever BetKing does (winning or losing or go broke) he still owes you your loan plus interest.

Investor <-> Creditor

The wording clearly indicates that you are an investor and not a creditor!

The profit (or loss) from currencies at the current exchange rate when the win calculation is made has to be added to the token value calculation!

BetKing states a calculation example where only the total site profit from all games is added to the value of the token, but based on his own statements this calculation is not correct!

Therefore the calculation must be something like:

$0.09286 + (85 x $8,000 casino win + 1000 x (difference BTC price during ICO and current price) currency win / 100,000,000)
______

Even though there are still some things unclear, the currently available info indicates that BetKing acts unlawful!

What is the interval when the win / loss calculation is made? Daily? Weekly? Monthly or yearly?

Where is the win / loss calculation?

What are the conditions to give the participation of an investor back?

[JollyGood]

Well he isn't hiding or anything
https://twitter.com/deannolan/status/1013008108078223360
Currently building a prototype for a decentralised #crypto exchange using atomic swaps with no extra token or coin involved.

With him having kept 30 million Betking tokens on which the holder can claim a share of the 'profits' as well as the millions that he has in crypto from the ICO he can afford to pay to have an exchange coded for him.

[game-protect]

Well he isn't hiding or anything
https://twitter.com/deannolan/status/1013008108078223360
Currently building a prototype for a decentralised #crypto exchange using atomic swaps with no extra token or coin involved.

With him having kept 30 million Betking tokens on which the holder can claim a share of the 'profits' as well as the millions that he has in crypto from the ICO he can afford to pay to have an exchange coded for him.

Previously you claimed that BetKing needed only few thousand dollars to code the casino website and now suddenly he needs $ millions to code an exchange?

Does not make much sense!

Did he pay for the 30 million BetKing tokens he holds?

Where are the terms and conditions of the creation and contribution of the BetKing tokens?

[JollyGood]

I cannot put the blame on the investors because they were fooled in to funding this pathetic shambles of a betting website called Betking

Dean Nolan made millions from the ICO while investors lost everything. The Betking tokens are as good as a chocolate teapot (as BitcoinCasinoFinder.com mentioned earlier)

Shame on you Dean Nolan

[game-protect]

I cannot put the blame on the investors because they were fooled in to funding this pathetic shambles of a betting website called Betking

Dean Nolan made millions from the ICO while investors lost everything. The Betking tokens are as good as a chocolate teapot (as BitcoinCasinoFinder.com mentioned earlier)

Shame on you Dean Nolan

To who did the investors lose everything?

According to BetKing investors are part of the casino / house and the bankroll is worth around $10 million.

So how is the investment lost? Or do you mean the casino / house investment is transferred to the person Dean?

[JollyGood]

I've been a skeptic of BK but have given Dean the benefit of the doubt; as he is known for his charity work and donations.

With that said, I would hate to think someone who donates millions of dollars to charity would then turn around and stiff his investors.

It just doesn't make sense and I would hate to think that people actually have it in them to do such a thing.

Unless Dean shows face and proves these allegations to be false, BK's reputation could take a turn for the worse.

The reputation of Dean Nolan is already in tatters alongside his failed Betking website.

To which charities has he allegedly donated money to?

Did Dean Nolan ever say where the funds he was donating came from?

How was he "known" for his charity work donations? Please list the names of the charities, is there any way of checking if he actually made donations or was it something he dropped in when seeking publicity?

After coming in to millions of US$ as a result of the ICO it seems surprising Dean Nolan would lock the Betking thread (because he was worried about the questions he was being asked about Betking investors losing money and about him gaining millions of US$) yet he would make donations to charity AND let people know he did it.... strange.

[chazley]

Well he isn't hiding or anything
https://twitter.com/deannolan/status/1013008108078223360
Currently building a prototype for a decentralised #crypto exchange using atomic swaps with no extra token or coin involved.

Hilarious and sad at the same time. I feel for the investors.

Unless, of course, Dean gives them equity in this new exchange. That would only be fair.

[JollyGood]

Well he isn't hiding or anything
https://twitter.com/deannolan/status/1013008108078223360
Currently building a prototype for a decentralised #crypto exchange using atomic swaps with no extra token or coin involved.

Hilarious and sad at the same time. I feel for the investors.

Unless, of course, Dean gives them equity in this new exchange. That would only be fair.

Why? This so-called exchange project would probably be as bad as the other disaster he championed called "Betking"

Dean Nolan will probably pay an Indian, Chinese or Vietnamese coder to design the site by paying a few hundred US$ and then take screenshots to publicise it as "working on it, not completed yet but here are some demo screenshots" just as he did with Betking when the site was complete with plugin betting software (but he claimed it was under construction to reel investors in).

After that he will have another ICO for the "exchange" where another set of investors will sadly lose out on their investment and Dean Nolan will make several millions more.

Pathetic  

[JollyGood]

Again, I must ask, why does this game-protect fella have such a keen interest in defending Dean Nolan?
You are beginning to sound like his lawyer, or someone who profits from his business.
The cards and facts remain stacked against Mr. Nolan; who is handling this situation so poorly by running and hiding.

Well Dean Nolan does post here from time to time but there is nothing meaningful from him.

How on earth can he retain 30 million Betking tokens by not putting them on the ICO sale and still claim profits on them instead of allowing investors to maximise what little profit there might be? The profits that are so small that make the Betking token almost useless and worthless. It looks like a very sad and bad thing Dean Nolan has done making him and his Betking website look a shambles.

[slaman29]

Almost nothing as no one wants to buy it.  If people wanted it then there would be a value but as you can see the demand is so low that it's about as much use as a chocolate teapot.

HitBTC charges a disgusting 331 BKB fee to withdraw from what I remember. I wanted to buy some a few months ago, but opted not to due to the fee.

Why would Dean Nolan want to list Betking there on HitBTC then? Another piece of classic mismanagment from him.

Because, more exchanges is better, it's probably easy to list, it's not a bad option for whales, and I doubt HitBTC specifically stated that the withdraw fee for your token is X

Yeah, have to agree on this point. An extra exchange is good for liquidity, and can't hurt the business as far as token economics is concerned. More exchanges means more traders, means more liquidity, and fairer prices. I think even some casinos are also building exchanges or having an internal system for exchange at some small commission. It's just diversification to me.

[TrumpD]

I wonder who this thread is for?

It's not for ICO token holders. I speak with most of them on Telegram. They understood what they were investing in and know it's not a scam, in fact, many people are happy with the roi so far and the huge improvements being made on the site.

This is just a thread for a bunch of idiots who were not in the ico, have no intention of ever owning tokens, who don't know anything about BetKing or the ICO or how businesses work.

Just people who refused to listen to the answers I gave a hundred times and instead chose to listen to a bitter, jealous moron who has had hatred towards me and BetKing for almost 5 years.

So yeah, the thread is locked due to trolls and people incapable of listening to me. I'll unlock to post updates now and again. Though bitcointalk isn't where we get most our audience so not sure how frequently.

Have fun in here speculating and posting shit you have no clue about. It doesn't affect BetKing or investors.

I cannot say for certain who is wrong or right, but locking your thread and flipping the bird at readers and posters here is not on.

[jonte]

I wonder who this thread is for?

It's not for ICO token holders. I speak with most of them on Telegram. They understood what they were investing in and know it's not a scam, in fact, many people are happy with the roi so far and the huge improvements being made on the site.

This is just a thread for a bunch of idiots who were not in the ico, have no intention of ever owning tokens, who don't know anything about BetKing or the ICO or how businesses work.

Just people who refused to listen to the answers I gave a hundred times and instead chose to listen to a bitter, jealous moron who has had hatred towards me and BetKing for almost 5 years.

So yeah, the thread is locked due to trolls and people incapable of listening to me. I'll unlock to post updates now and again. Though bitcointalk isn't where we get most our audience so not sure how frequently.

Have fun in here speculating and posting shit you have no clue about. It doesn't affect BetKing or investors.

I personally put 1.5 BTC into the Betking ICO and got a bonus for being an early investor too. I'm disappointed when I see the BKB buyout price you're giving us for 10% of our tokens. For me it's 0.08110188 BTC. So you're saying that my total BKB investment is only worth 0.8110188 BTC? That's almost HALF of what I invested in the ICO yet you claim your investors are "happy with the roi so far" when in reality that couldn't be further from the truth. Please explain yourself. If the business is going well then why is the investment only valued at 54% of the initial investment? It would be slightly understandable if you actually converted the Bitcoin investments from the ICO into fiat right away, but you didn't. I'm interested in hearing what on earth is going on.

[BetKing.io]

I wonder who this thread is for?

It's not for ICO token holders. I speak with most of them on Telegram. They understood what they were investing in and know it's not a scam, in fact, many people are happy with the roi so far and the huge improvements being made on the site.

This is just a thread for a bunch of idiots who were not in the ico, have no intention of ever owning tokens, who don't know anything about BetKing or the ICO or how businesses work.

Just people who refused to listen to the answers I gave a hundred times and instead chose to listen to a bitter, jealous moron who has had hatred towards me and BetKing for almost 5 years.

So yeah, the thread is locked due to trolls and people incapable of listening to me. I'll unlock to post updates now and again. Though bitcointalk isn't where we get most our audience so not sure how frequently.

Have fun in here speculating and posting shit you have no clue about. It doesn't affect BetKing or investors.

I personally put 1.5 BTC into the Betking ICO and got a bonus for being an early investor too. I'm disappointed when I see the BKB buyout price you're giving us for 10% of our tokens. For me it's 0.08110188 BTC. So you're saying that my total BKB investment is only worth 0.8110188 BTC? That's almost HALF of what I invested in the ICO yet you claim your investors are "happy with the roi so far" when in reality that couldn't be further from the truth. Please explain yourself. If the business is going well then why is the investment only valued at 54% of the initial investment? It would be slightly understandable if you actually converted the Bitcoin investments from the ICO into fiat right away, but you didn't. I'm interested in hearing what on earth is going on.

pm me your betking username if you have tokens on there or your eth address with tokens.
But if you are a token holder you seem to have a misunderstanding of how the ico works.
The tokens were $0.0928 at time ico and are now $0.0993, a 7% roi.

This model of token price calculation was very clearly explained before the ICO started and over and over again in threads and the various discussion platforms.
This was never an ICO to list and flip on exchanges, again I stated that, it's a long term project.

[JollyGood]

Yeah, have to agree on this point. An extra exchange is good for liquidity, and can't hurt the business as far as token economics is concerned. More exchanges means more traders, means more liquidity, and fairer prices. I think even some casinos are also building exchanges or having an internal system for exchange at some small commission. It's just diversification to me.

So why did Dean Nolan not pay from the ICO funds to have it listed in as many exchanges as possible? It was not as if he would have paid for it out of his own pocket because investors were duped in to parting with their crypto in the ICO.

Does his action display that Dean Nolan cares about either Betking or the ICO investors?

30 million tokens were to be kept by Dean Nolan and 70 million were supposed to be distributed to ICO investors. He raised $6.5 million+ in the ICO in September 2017 which went upwards towards $18million just a few months later so what stopped Dean Nolan from using some of those funds to get his pathetic Betking tokens on to some of the bigger exchanges?

[jonte]

I wonder who this thread is for?

It's not for ICO token holders. I speak with most of them on Telegram. They understood what they were investing in and know it's not a scam, in fact, many people are happy with the roi so far and the huge improvements being made on the site.

This is just a thread for a bunch of idiots who were not in the ico, have no intention of ever owning tokens, who don't know anything about BetKing or the ICO or how businesses work.

Just people who refused to listen to the answers I gave a hundred times and instead chose to listen to a bitter, jealous moron who has had hatred towards me and BetKing for almost 5 years.

So yeah, the thread is locked due to trolls and people incapable of listening to me. I'll unlock to post updates now and again. Though bitcointalk isn't where we get most our audience so not sure how frequently.

Have fun in here speculating and posting shit you have no clue about. It doesn't affect BetKing or investors.

I personally put 1.5 BTC into the Betking ICO and got a bonus for being an early investor too. I'm disappointed when I see the BKB buyout price you're giving us for 10% of our tokens. For me it's 0.08110188 BTC. So you're saying that my total BKB investment is only worth 0.8110188 BTC? That's almost HALF of what I invested in the ICO yet you claim your investors are "happy with the roi so far" when in reality that couldn't be further from the truth. Please explain yourself. If the business is going well then why is the investment only valued at 54% of the initial investment? It would be slightly understandable if you actually converted the Bitcoin investments from the ICO into fiat right away, but you didn't. I'm interested in hearing what on earth is going on.

pm me your betking username if you have tokens on there or your eth address with tokens.
But if you are a token holder you seem to have a misunderstanding of how the ico works.
The tokens were $0.0928 at time ico and are now $0.0993, a 7% roi.

This model of token price calculation was very clearly explained before the ICO started and over and over again in threads and the various discussion platforms.
This was never an ICO to list and flip on exchanges, again I stated that, it's a long term project.

Can I ask why you want my username? I'm not lying about my investment of 1.5 BTC in the ICO. If I send you my username you might ban me or something if you don't like people expressing their opinions of Betking.

[JollyGood]

I cannot say for certain who is wrong or right, but locking your thread and flipping the bird at readers and posters here is not on.

Dean Nolan is using an excuse to say that he locked the Betking thread because he was tired of asnwering the same questions again and again. He locked his Betking thread because he cannot justify how he ended up with millions from the ICO when the investors lost almost everything.

Unlike you I CAN say for certain that Dean Nolan is wrong on multiple fronts. He made millions of US$ from the ICO and continues to make "profits" from the millions of tokens that were never released in the ICO. His payout token payout structure is flawed and does not favour investors. The 10% buy-back token system is completely pathetic because it forces investors to keep 90% of their tokens if they want to sell them because they realised the website is a shambles and "profits" are almost non-existent or are under-performing extremely badly. They can list them on exchanges such as HitBTC but a post in this thread earlier showed there was basically no demand for Betking tokens so how can they be sold?

His claims of ICO investors buying in to the "profits" of the betking.io website versus his other statements about ICO investors buying in to the online casino itself have irritated many and therefore those that lost out in the ICO call Dean Nolan and Betking.io website a scam.

In this message from the thread that Dean Nolan has now locked the user iluvbitcoins stated: "We bought a share of the casino and the casino profited 12 million$ so far."
(https://bitcointalk.org/index.php?topic=2150057.msg25717485#msg25717485)

At the close of the ICO in September 2017 the total value of the ICO raised funds was around $6.5 million. In less than 3 months of the ICO the value rocketed to $12 million and within 4 months of the ICO the value rocked to around a MASSIVE $18 million. Dean Nolan has never added any of the Betking casino profits in crypto increase to return via token price increase to the ICO investors which is what the user in the above link was referring to.

Dean Nolan has never stated where he spent any of the 30 million tokens he never released during the ICO. Dean Nolan has never stated exactly how much went on the bankroll in the website launch. Dean Nolan has never released a whitepaper or accountable balance sheet to investors and ICO investors that show accountability for post-ICO actions can be compared to his pre-ICO claims.

These are some of the reasons why many people that invested in the ICO are calling Dean Nolan, Betking and the betking.io website a scam. Nothing Dean Nolan has done in the recent days has helped him disprove what people are saying about him.

Sure investors should never have invested in the Betking token structure with tiny payouts and just 10% buy-back but the ICO thread was flooded with bounty participants who were posting pro-Betking and pro-Dean Nolan propoganda so it was easy to get duped so I cannot blame investors.

Even now Dean Nolan is offering ownership of a share of the Betking casino and on the other hand he offers a share of the "profits" and he is doing it on the same page on his Betking website and it has frustrated many investors because Dean Nolan seems to be the only one who got rich by making millions directly from the ICO but the ICO investors and later investors got next to nothing so that is another reason why people are calling Dean Nolan and his betking.io website a scam:
https://betking.io/invest