BetKing.io is a blatant scam operated by Dean Nolan

[attilla82]

It's so sad to see I was right all along about Dean.
Even reading through my replies that were quoted here makes me angry.
0.5BTC I have invested in the project is worth a total of 160$.

People like him make me want to become a vigilante.

People like you just talk so much shite.

If you bought 0.5 btc in the ico you would have invested ~$2250 would have received 24649 BKB.
That's if you bought on the last week. You probably had some discount and also got bonuses for BCH too. So you likely got around 30,000 tokens.

30k BKB gets you 600000 BKT

The current price of BKT is 11 sats = 0.066 BTC meaning at the moment your tokens are worth $528, 3.3x more than you claimed.

Now is 528 annoying considering how much you put in? Yes, of course. Is it a scam? Clearly not.
The site done terrible for a year. This is investing, there's risks.

The past few months though the site has made > $200,000. Which is way more than it made in the first year of after ICO.
Things are turning round a lot.
We are doing better than some other sites since the launch of new token on feb 18th  e.g. BItvest and similar volume/profit to cryptogames

Also, if you invested 1 btc into the bankroll on feb 18th you would have made 10x more profit than on bustabit and way more than on any other dice site.

People should check the facts before posting in these threads.

Your logic to me is ridiculous. If you hold tokens and put money in why would you be trying to get people not to play by posting your false scam accusations? It's stupid.

Yes, Dean, you're right.
My 0.5BTC investment IS worth 528$.

More now since we bought up a lot more today increasing the price to 13 sats.
But, just because your investment is worth less that doesn't mean it's a scam at all.
When stock prices drop do you call that a scam? When BTC drops do you call that a scam?

Also, what is the problem? Under the old buyback method it would take you 3-4 years to even see a return since you could only sell 10% every 3 months.
Now the site is profitable and the token price is increasing and you will be able to get full return or even profit much much faster.
 

all bitcointalk haters try to put price down and buy bkt cheap while is still possible. Cause they are know the future $$$

[beerlover]

I normally agree with RHavar at everything and I think he is right on this for the result as well but I think there are way more into this than just the buybacks.

I think if Dean did literally everything he did exactly like he did but afterwards he tried to sound like a nice person and tried to help everyone resolve their issues and basically literally switched from bad person that did buyback to good person trying to help everyone and made the casino successful then he could have earned many peoples hearts.

The trouble began when he did something bad and then yelled and cursed at everyone who complained about it, like how do you go about stealing peoples money and then blaming them for it? That was the crazy part.

[attilla82]

It's so sad to see I was right all along about Dean.
Even reading through my replies that were quoted here makes me angry.
0.5BTC I have invested in the project is worth a total of 160$.

People like him make me want to become a vigilante.

People like you just talk so much shite.

If you bought 0.5 btc in the ico you would have invested ~$2250 would have received 24649 BKB.
That's if you bought on the last week. You probably had some discount and also got bonuses for BCH too. So you likely got around 30,000 tokens.

30k BKB gets you 600000 BKT

The current price of BKT is 11 sats = 0.066 BTC meaning at the moment your tokens are worth $528, 3.3x more than you claimed.

Now is 528 annoying considering how much you put in? Yes, of course. Is it a scam? Clearly not.
The site done terrible for a year. This is investing, there's risks.

The past few months though the site has made > $200,000. Which is way more than it made in the first year of after ICO.
Things are turning round a lot.
We are doing better than some other sites since the launch of new token on feb 18th  e.g. BItvest and similar volume/profit to cryptogames

Also, if you invested 1 btc into the bankroll on feb 18th you would have made 10x more profit than on bustabit and way more than on any other dice site.

People should check the facts before posting in these threads.

Your logic to me is ridiculous. If you hold tokens and put money in why would you be trying to get people not to play by posting your false scam accusations? It's stupid.

Yes, Dean, you're right.
My 0.5BTC investment IS worth 528$.

I think it wasnt mistake just calculation according previous month. The price growing so rapidly 1 month - 3.3x
With this speed 0.5BTC investment will worth 5k after 2 month with current btc price

[RHavar]

And how much would've you lost if you honored the original agreement till completion?

What are you talking about? It was not possible to hence the whole reason we changed the business.
It's totally irrelevant.

You mean, because you couldn't afford it? Or because you didn't want to lose money?

Not that it makes a difference, but I'm extremely skeptical that you've personally lost any money, as AFAIK all the buy-backs were done far below the sale price, which should've yielded you a huge amount.


Regardless if you could afford it or not, it still makes you highly untrustworthy. You shouldn't have entered into a deal in which you couldn't have upheld your side if the price moved against you. Literally a week or two before you renegged, you had even assured me that you had "systems in place" to guarantee you'd have funds to repay investors even in a price crash via auto-selling bitcoin.

Of course, that was just more bullshit.

[BetKing.io]

And how much would've you lost if you honored the original agreement till completion?

What are you talking about? It was not possible to hence the whole reason we changed the business.
It's totally irrelevant.

You mean, because you couldn't afford it? Or because you didn't want to lose money?

Not that it makes a difference, but I'm extremely skeptical that you've personally lost any money, as AFAIK all the buy-backs were done far below the sale price, which should've yielded you a huge amount.


Regardless if you could afford it or not, it still makes you highly untrustworthy. You shouldn't have entered into a deal in which you couldn't have upheld your side if the price moved against you. Literally a week or two before you renegged, you had even assured me that you had "systems in place" to guarantee you'd have funds to repay investors even in a price crash via auto-selling bitcoin.

Of course, that was just more bullshit.

Wait, you seem confused.

You are under the assumption that this was all a personal loan I got from investors.
It was an investment in a business. With all investment in any business there was risk.
There was no "deal". There was no "guaranteed" buybacks.

You do know that the price of the original token could easily have dropped to 100th of the original ICO price too right?

Again, you just post your own shit opinions instead of facts.
"but I'm extremely skeptical that you've personally lost any money,"  - opinion, that is wrong based on no facts
"AFAIK all the buy-backs were done far below the sale price, which should've yielded you a huge amount. " yet another opinion with no facts.

You know who does know how much was bought and at what prices? Actual investors. Not you, a competitor, who never invested.

[JollyGood]

And how much would've you lost if you honored the original agreement till completion?

What are you talking about? It was not possible to hence the whole reason we changed the business.
It's totally irrelevant.

You mean, because you couldn't afford it? Or because you didn't want to lose money?

Not that it makes a difference, but I'm extremely skeptical that you've personally lost any money, as AFAIK all the buy-backs were done far below the sale price, which should've yielded you a huge amount.


Regardless if you could afford it or not, it still makes you highly untrustworthy. You shouldn't have entered into a deal in which you couldn't have upheld your side if the price moved against you. Literally a week or two before you renegged, you had even assured me that you had "systems in place" to guarantee you'd have funds to repay investors even in a price crash via auto-selling bitcoin.

Of course, that was just more bullshit.

Wait, you seem confused.

You are under the assumption that this was all a personal loan I got from investors.
It was an investment in a business. With all investment in any business there was risk.
There was no "deal". There was no "guaranteed" buybacks.

You do know that the price of the original token could easily have dropped to 100th of the original ICO price too right?

Again, you just post your own shit opinions instead of facts.
"but I'm extremely skeptical that you've personally lost any money,"  - opinion, that is wrong based on no facts
"AFAIK all the buy-backs were done far below the sale price, which should've yielded you a huge amount. " yet another opinion with no facts.

You know who does know how much was bought and at what prices? Actual investors. Not you, a competitor, who never invested.

Serial scammer Dean Nolan is doing what he always does to deflect attention away from the facts....

RHavar, you are absolutely right when you say serial scammer did not lose any money. How could he lose money when he made his "money" for free in the ICO in BKB tokens? Then he sold those BKB tokens from the bankroll funds which was a deliberate way to pocket cash. The impression this serial scammer gives is that he had $1 million of his own FIAT currency which he converted to crypto to invest in the disastrous 2017 betking ICO but that is not what happened.

How can anybody believe anything that imbecile Dean Nolan spouts? He is a compulsive liar.

[RHavar]

You are under the assumption that this was all a personal loan I got from investors.
It was an investment in a business.

Ok. It's not easy to have a discussion with a scammer who can't even stick to basic facts. I was willing to cut some slack if you were forced into a corner by financial circumstances, but if you're just going to keep blatantly lying it's a bit difficult to try be charitable.

--

For anyone reading, the original BKB was a personal loan to Dean. He and I discussed that aspect extensively, when he wanted me to buy some BKB tokens to help him increase his BTC exposure (as he'd supposedly have to sell some BTC to pay some poker debts).

 
The original pricing formula used for BKB didn't take into consideration any expenses for the business, which were supposed paid for by Dean. And as such, investors never got any equity in the business. The original deal was structured as a personal loan to Dean, which was denominated in USD but instead of interest people would get paid some of the *revenue* (to not expose them to business risks) from betking until the loan was paid according to a fixed schedule.

Dean was ecstatic about the structure of his ICO and how much money it made him personally when the price of bitcoin was up (but he never sold the bitcoin he raised, and his debt was denominated in USD). But the second it came to him losing money, he had no hesitation in renegging.

--

But if Dean's not going to be honest about how things were, and what went wrong -- there's no point really wasting more energy on this discussion. It's already pretty well established that Dean's a liar and a scammer. But I do wonder why he's suddenly after months now trying to defend his little scam?  Dean, you wouldn't happen to be trying to float another ICO in the near future? :rofl:

[RHavar]

Serial scammer Dean Nolan is doing what he always does to deflect attention away from the facts....

Just to be fair to Dean, while he's a scammer and a liar -- I'm not sure he's a "serial scammer". To the best of my knowledge he's only ever scammed people once with his ICO.

(Granted: I'm sure he'd be happy to scam people again given the chance, now that he's name is in the trash. But we should probably wait until then before calling him a serial scammer)

 

[BetKing.io]

You are under the assumption that this was all a personal loan I got from investors.
It was an investment in a business.

Ok. It's not easy to have a discussion with a scammer who can't even stick to basic facts. I was willing to cut some slack if you were forced into a corner by financial circumstances, but if you're just going to keep blatantly lying it's a bit difficult to try be charitable.

--

For anyone reading, the original BKB was a personal loan to Dean. He and I discussed that aspect extensively, when he wanted me to buy some BKB tokens to help him increase his BTC exposure (as he'd supposedly have to sell some BTC to pay some poker debts).

 
The original pricing formula used for BKB didn't take into consideration any expenses for the business, which were supposed paid for by Dean. And as such, investors never got any equity in the business. The original deal was structured as a personal loan to Dean, which was denominated in USD but instead of interest people would get paid some of the *revenue* (to not expose them to business risks) from betking until the loan was paid according to a fixed schedule.

Dean was ecstatic about the structure of his ICO and how much money it made him personally when the price of bitcoin was up (but he never sold the bitcoin he raised, and his debt was denominated in USD). But the second it came to him losing money, he had no hesitation in renegging.

--

But if Dean's not going to be honest about how things were, and what went wrong -- there's no point really wasting more energy on this discussion. It's already pretty well established that Dean's a liar and a scammer. But I do wonder why he's suddenly after months now trying to defend his little scam?  Dean, you wouldn't happen to be trying to float another ICO in the near future? :rofl:

It's not easy to have a discussion with someone who refuses to believe anything I say. Who twists everything I say. Who can't use basic logic or stick to facts or show proof of any false scam claims.

I shouldn't waste any time on you now considering a) you are a competitor and b) you are actively trying to damage my investors chances of seeing a return on investment. I don't care about the money I've lost.

I thought you were meant to be smart as well. I have no idea why anyone listens to you or trusts you on this forum. You got lucky with bustabit but you have no clue what you are talking about when it comes to business.

[marlboroza]

There was no "guaranteed" buybacks.

This is outrageous lie:


source: http://web.archive.org/web/20170809030225/http://betking.io/

You lied to investors then you fucked them:

Yes, Dean, you're right.
My 0.5BTC investment IS worth 528$.

Now you are making some token swaps/whatever to fool more people. I would suggest everyone to read this thread from the beginning.

[BetKing.io]

There was no "guaranteed" buybacks.

This is outrageous lie:


source: http://web.archive.org/web/20170809030225/http://betking.io/

You lied to investors then you fucked them:

Yes, Dean, you're right.
My 0.5BTC investment IS worth 528$.

Now you are making some token swaps/whatever to fool more people. I would suggest everyone to read this thread from the beginning.

Where in your image does it say the word guarantee?
It says BetKing will offer to buy "up to 10%"

There were no lies.

Still can't find any investors who have lost any money here.

[RHavar]

I shouldn't waste any time on you now considering a) you are a competitor

I was a competitor, and even when I was running bustabit I had no problem helping you out with some stuff and maths. I've always had good relations with other casinos. You'll notice I've never said a bad word about the big and serious competitors I had over the years, because they got big and serious by doing a good job and running honest shops.

But nice try at deflection.

And anyway, I've long since got out of the business. The reason I have a problem with you, is that you turned into a scammer and tried pretty hard to scam me for a large sum of money.

You got lucky with bustabit but you have no clue what you are talking about when it comes to business.

Hard to argue too much there. I definitely did get lucky, and not a business person at all. But to be honest, I don't think I've leveled much criticism on how you run your "business". My complaints have more been around your character (or lack of).  But if you consider scamming people a "business" decision, then maybe it's your skills that should be questioned, not mine?

[BetKing.io]

I shouldn't waste any time on you now considering a) you are a competitor

I was a competitor, and even when I was running bustabit I had no problem helping you out with some stuff and maths. I've always had good relations with other casinos. You'll notice I've never said a bad word about the big and serious competitors I had over the years, because they got big and serious by doing a good job and running honest shops.

But nice try at deflection.

And anyway, I've long since got out of the business. The reason I have a problem with you, is that you turned into a scammer and tried pretty hard to scam me for a large sum of money.

You got lucky with bustabit but you have no clue what you are talking about when it comes to business.

Hard to argue too much there. I definitely did get lucky, and not a business person at all. But to be honest, I don't think I've leveled much criticism on how you run your "business". My complaints have more been around your character (or lack of).  But if you consider scamming people a "business" decision, then maybe it's your skills that should be questioned, not mine?

1) I've not scammed anyone and you have zero proof of that. There's not even investors on this forum that can provide any proof of that (yeah post, Loyce or whatever, but he is wrong and everyone knows it)
2) I didn't try to scam you of anything. You offered a loan, before I asked, then I said I would be happy to sell you BKB if you wanted. This is in no way a scam and if we did agree to that then I'm sure the site would have been doing far better by now. But that's irrelevant.
3) You are not out the business. You still have a stake in Bustabit and you have a large part of the bankroll in there and bustadice. It is in your interest for other sites to do poorly and those to do well.

So yet again, after 6 months? You still can't provide proof of me scamming and you can't find anyone I have stolen money off and you can't find any investor who has lost any money.
And you still just flat out refuse to believe anything I've said, or even the players and investors who have posted how it's not a scam in the past few months.

What is it that is the basis of your claim again? I'm confused where any of you are even coming from now. You all contradict each other and yourselves and repeat nonsense with no facts over and over again.

If you were out the business why are you still in these threads?

[RHavar]

2) I didn't try to scam you of anything. You offered a loan, before I asked, then I said I would be happy to sell you BKB if you wanted. This is in no way a scam and if we did agree to that then I'm sure the site would have been doing far better by now. But that's irrelevant.

Your memory doesn't agree with my chat logs

You were the one asking for, several times, and each time I told you that I would only do it collateralized. And each time you kept trying to weasel your way out of the collateral requirement (even once agreeing and then last minute pulling out).

And then, no surprise, a couple weeks later you reneg on your agreement and which had you collateralized would have protected me against. So I'll lead it up to the reader to add 1 and 1.

3) You are not out the business. You still have a stake in Bustabit and you have a large part of the bankroll in there and bustadice. It is in your interest for other sites to do poorly and those to do well.

Ok, you're right that I have invested in the bankroll of both bustabit and bustadice (among other sites/services). But if my motives were in attacking "competitors" to increase volume for my invesment (lol..) I would be attacking sites like primedice or stake. But instead I am frequently recommend them (and have zero financial stake in) because they're businesses that have been built upon being fair and honest with players.

Also for perspective, if you summed up the entire volume of wagers from betking since it's ICO I bet it's less than a good day from bustabit. Your "business" is not a real competitor, but even if it was, it would not have any bearing on my opinion.

If you were out the business why are you still in these threads?

I like to relive my former glory. Besides, it's also a bit of a civic service to try minimize the amount of people you can scam in the future.

[BetKing.io]

I like to relive my former glory. Besides, it's also a bit of a civic service to try minimize the amount of people you can scam in the future.

Funny that, since the launch of the new BKT token in Feb we have increased traffic, bet volume, new investment and profit for investors every week since. All while the token price is increasing and original ICO investors discuss the next moves for us to take and support the changes.

I don't think your civic duty is really having much effect.

I don't think you know what a scam is either. My lawyers certainly don't see any scam going on.

[RHavar]

There was no "guaranteed" buybacks.

This is outrageous lie:


source: http://web.archive.org/web/20170809030225/http://betking.io/

You lied to investors then you fucked them:

Yes, Dean, you're right.
My 0.5BTC investment IS worth 528$.

Now you are making some token swaps/whatever to fool more people. I would suggest everyone to read this thread from the beginning.

Nice post. It clearly reputes Dean's point a few posts back about the token being a business loan. It's pretty clear the pricing is such that it's structured as a personal loan to Dean, fixed in USD with betking *revenue* offered instead of an interest rate.

It says BetKing will offer to buy "up to 10%"

lol, nice attempt to weasel out of the deal. The "up to 10%" referred to if a user had X tokens, they could use "<= X/10" for buybacks.

[JollyGood]

Serial scammer Dean Nolan is doing what he always does to deflect attention away from the facts....

Just to be fair to Dean, while he's a scammer and a liar -- I'm not sure he's a "serial scammer". To the best of my knowledge he's only ever scammed people once with his ICO.

(Granted: I'm sure he'd be happy to scam people again given the chance, now that he's name is in the trash. But we should probably wait until then before calling him a serial scammer)

 

He scammed ICO investors when he did not fulfil a whole list of the 2017 ICO promises
He scammed ICO investors when he siphoned-off ICO funds for his own pockets
He scammed the winners of the 2018 Christmas wager
He scammed ICO investors when he created 10 billion EOS BKT tokens and kept 1 billion for himself
He scammed ICO investors and all token holders when he announced BKB token holders need to swap over to BKT otherwise lose their tokens/investment
He scammed ICO investors and all token holders when he claimed betking would buy back 10% of all tokens every quarter

I can add more but that list should suffice to show serial activity rather than a one-off scam. In my book that makes Dean Nolan a serial scammer

 

[game-protect]

He scammed ICO investors when he did not fulfil a whole list of the 2017 ICO promises
He scammed ICO investors when he siphoned-off ICO funds for his own pockets
He scammed the winners of the 2018 Christmas wager
He scammed ICO investors when he created 10 billion EOS BKT tokens and kept 1 billion for himself
He scammed ICO investors and all token holders when he announced BKB token holders need to swap over to BKT otherwise lose their tokens/investment
He scammed ICO investors and all token holders when he claimed betking would buy back 10% of all token every quarter

I can add more but that list should suffice to show serial activity rather than a one-off scam. In my book that makes Dean Nolan a serial scammer

 

True!

But everyone with a functioning brain can put "betking scam" into google and avoid!

[LoyceV]

(yeah post, Loyce or whatever, but he is wrong and everyone knows it)

Have you seen your Trust rating (Trust: -254: -8 / +2) lately? It's quite obvious many people know I'm not wrong. If you claim I am the only victim here, I just want to know: was stealing $700 from me really worth it?

It says BetKing will offer to buy "up to 10%"

lol, nice attempt to weasel out of the deal. The "up to 10%" referred to if a user had X tokens, they could use "<= X/10" for buybacks.

I brought this up almost 2 years ago. This is what BetKing.io answered:

So what I meant is if someone wants to sell me 10% of their tokens I will buy them.
I can't say sorry I'm only going to buy 4%.

(archived)

There were no lies.

I now wonder if Dean really believes his own lies, or he just made so many lies he can't keep them consistent anymore?

[actmyname]

Also, what is the problem? Under the old buyback method it would take you 3-4 years to even see a return since you could only sell 10% every 3 months.
Now the site is profitable and the token price is increasing and you will be able to get full return or even profit much much faster.

Here is the math, in case anyone is interested.

We are using token stats and the BTC exchange price from this post: ICO audit complete. Final funds raised

Without factoring in any price differences and without factoring in ICO bonuses:
One investment of 3 BTC (13790.4 USD) would yield you 148507.43 BKB tokens^_*

_{*without a discount}

The following don't factor in any profits/losses:

Buyback Stats (lowest price of $3200)
-------------------------------------
2 quarters: 19.00% sold  ->  $1824.00
4 quarters: 34.39% sold  ->  $3301.44
8 quarters: 56.95% sold  ->  $5467.20
-------------------------------------

Buyback Stats (true prices @ quarter)
-------------------------------------
Q1 (Dec 17): $1379.04 @ $11271.20/BTC = 0.12235077BTC
Q2 (Mar 18): $1241.14 @ $11471.20/BTC = 0.10819618BTC
Q3 (Jun 18): $1117.02 @ $7622.00 /BTC = 0.14655208BTC
Q4 (Sep 18): $1005.32 @ $7230.36 /BTC = 0.13899722BTC
Q5 (Dec 18):  $904.79 @ $4001.27 /BTC = 0.22612570BTC
Q6 (Mar 19):  $814.31 @ $3747.36 /BTC = 0.21730231BTC
Q7 (Jun 19):  $732.88 @ $7910.92 /BTC = 0.09264156BTC

TOTAL: 1.05216582 BTC + 71,030.64 BKB
EQUIVALENT PRICE: $8,206.90 (@7800) + $6,595.90 (@0.09286)
FINAL PRICE: $14,802.80
FINAL PROFIT: $1012.4 (7.34%)

* buyback dates are on 4th of March, June, September, December


On the flipside, if you held the 148507.43 BKB, a conversion of 30 BKT = 1 BKB nets 4,455,222.9 BKT.
This is 0.40097006 BTC (we can only guarantee a sale at the highest buy order)‬ which is roughly $3207.76 (at 8000 USD/BTC)

In order to recoup the losses, one would need BKT to rise to the price of .00000039 BTC/BKT. This is a 333.33% price increase.I'm being very generous, rounding in the direction of BK's favor.