BetKing.io is a blatant scam operated by Dean Nolan

[JollyGood]

(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?

The trust for serial scammer Dean Nolan and his betking user is showing -2045

[1713954577]

1713954577

[1713954577]

1713954577

[1713954577]

1713954577

[BetKing.io]

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.

We actually have been buying at the lowest sell order for what it's worth which is currently 13 sats. It was 1 sat soon after launch of token so as anyone can see the price has been increasing very quickly all based on the fact that the new site has been bringing new traffic and players. Much more than the old platform did.


Your post, whatever your intention was, will get buried anyway or be used to try and make it as if BetKing is a scam or paint it in a negative light.

[actmyname]

We actually have been buying at the lowest sell order for what it's worth which is currently 13 sats.

What constitutes your buy price, then? I did add the note that an investor could only expect to sell at what the highest buy price is. The liquidity of such a coin is up for grabs.

It was 1 sat soon after launch of token so as anyone can see the price has been increasing very quickly all based on the fact that the new site has been bringing new traffic and players. Much more than the old platform did.

While this is technically true, I'm not going to base anything on the increased price of a token that started at the minimum price. Objectively-speaking, coins with lower market caps and volume are easier to raise the price of.

Your post, whatever your intention was, will get buried anyway or be used to try and make it as if BetKing is a scam or paint it in a negative light.

I have not stated my opinion. Nor does it matter. I have presented the facts and it is up to the reader to engage and create their own opinion using the facts thereof.

Do bear in mind the potential errors of the calculations from the various remarks I've made (no bonus, roundings, etc.)

[RHavar]

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)

Dean, how about you directly address this?

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

I think his strategy is to just argue semantics and nonsense to the point people either give up, or assume he might have a point. It's getting pretty hard to interpret his stuff charitably.

There was a post a couple months ago where that BillyBurns guy (some moderator and investor) said that Dean lost all his money altcoin trading. I have no idea if it's true, but say it was and Dean just came out and said: "Hey guys, I'm sorry but I got stupid and lost all the money on altcoin speculation. As such, I am am bankrupt and not in the position to payback investor. However, I really don't want to totally screw investors so I'll be working as hard as I can on the site to make more money to try make investors whole".


If that was the case (not implying it is...) it'd be easy to cut him some slack and say "ok, he fucked up badly but at least he's trying his best to right this situation".

But honestly I suspect he had good intentions at the start. He made a lot of money and was really happy. But when the price moved against him realized that he was going to lose some of that unrealized profit, and wasn't ok with it -- so just changed the terms of BKB with some pretty half-thought-out excuse for screwing investors.

[marlboroza]

~

At what price have you calculated buyback? Was price the same?

[actmyname]

~

At what price have you calculated buyback? Was price the same?

If your question was in regards to table #2, I calculated the price of bitcoin at each quarter date (i.e. the 4th during the outlined months).

If your question was in regards to table #1, everything was based on the minimum price of $3200 across the past two years. Table #1 was more for estimation and at-a-glance stats.

[marlboroza]

~

At what price have you calculated buyback? Was price the same?

If your question was in regards to table #2, I calculated the price of bitcoin at each quarter date (i.e. the 4th during the outlined months).

If your question was in regards to table #1, everything was based on the minimum price of $3200 across the past two years. Table #1 was more for estimation and at-a-glance stats.

Second table.

At what price Dean bought tokens back?

One investment of 3 BTC (13790.4 USD) would yield you 148507.43 BKB tokens*

If buyback price was always 0.09286$ (BKB is pegged to $):

Q1 14,850 @0.09286$
Q2 13,365 @0.09286$
Q3 12,029 @0.09286$
Q4 10,826 @0.09286$
Q5 9,743 @0.09286$
Q6 8,769 @0.09286$
Q7 7,892 @0.09286$

77,474 tokens bought back for 7,194$
71,033 BKB tokens left, that is (of course, BKT is not pegged to $):

On the flipside, if you held the 148507.43 BKB, a conversion of 30 BKT = 1 BKB nets 4,455,222.9 BKT.

2,130,990 BKT @0.00000013BTC = 0.277BTC

We actually have been buying at the lowest sell order for what it's worth which is currently 13 sats. It was 1 sat soon after launch of token so as anyone can see the price has been increasing very quickly all based on the fact that the new site has been bringing new traffic and players. Much more than the old platform did.

Or, 2,179$ (I took $7,869.94 as btc price)

That is ~$9,373.






46,000 BKT @13 sats?


Correct me if I am wrong.

[JollyGood]

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:

What are the real reasons for this serial scammer Dean Nolan to resurface again only to spout the same old lies and nonsense?

[iluvbitcoins]

This was a scam from the beginning, people just sided with Dean because he was reputable and cut him some slack (they assumed he was right, because he was a proven trustworthy person).

I have never seen on the ICO website anywhere listed that the investment is going to be USD pegged, until during the spike and that Dean made the claims.
How can  USD peg in a cryptocurrency casino where profits are made in CRYPTO, not in USD, make any sense at all?

Our investment was the bankroll of a cryptocurrency casino, yet for some reason after BTC spiked our tokens were valued in USD.

Bankroll value spiked 3 times but our token (which is a share of the bankroll) remained the same.
It was pretty obvious it's going to be a scam.

Day 1 - Bankroll 7 million$, BKB 0.011$
Day N - Bankroll 20 million $, BKB 0.012$

One would assume, maybe, BKB is going to be good if BTC drops.
It did drop.
But surprise surprise, Dean renegged the tokens.
So, in a day, all your investor lost 2/3 of their investment and later on you reneg the token again to suite your own needs and scam the investors.

Even after all of that, it's like you don't want your investors to make their investments back?
You literally give away a 100 BKT for every 1$ wagered on the website, you give thousands per reply and involvement in your threads.


If I wagered 0.3BTC right now, I would get the same BKT amount that I got when I invested 0.5BTC in ICO time!
It's like you don't want us to earn anything.

And you still have the balls to keep writing on this forum and say things like no one has lost money on this?
Man, if I lost a dozen bitcoins in your project, I'd literally face jail time because I'd be really upset.

[DarkStar_]

I have never seen on the ICO website anywhere listed that the investment is going to be USD pegged, until during the spike and that Dean made the claims.
How can  USD peg in a cryptocurrency casino where profits are made in CRYPTO, not in USD, make any sense at all?

Our investment was the bankroll of a cryptocurrency casino, yet for some reason after BTC spiked our tokens were valued in USD.

This part was completely clear, and you're the only person to blame for not reading about the USD pegged token. Out of all the things you might be able to complain about, this is not one of them.

[iluvbitcoins]

I have never seen on the ICO website anywhere listed that the investment is going to be USD pegged, until during the spike and that Dean made the claims.
How can  USD peg in a cryptocurrency casino where profits are made in CRYPTO, not in USD, make any sense at all?

Our investment was the bankroll of a cryptocurrency casino, yet for some reason after BTC spiked our tokens were valued in USD.

This part was completely clear, and you're the only person to blame for not reading about the USD pegged token. Out of all the things you might be able to complain about, this is not one of them.

There was never a USD peg, nor an intention for one, just a scam of 2/3 of the investments.
The renegging of the tokens is proof for the above.


The so-called USD peg was just a denomination for the Token price.

[DarkStar_]

I have never seen on the ICO website anywhere listed that the investment is going to be USD pegged, until during the spike and that Dean made the claims.
How can  USD peg in a cryptocurrency casino where profits are made in CRYPTO, not in USD, make any sense at all?

Our investment was the bankroll of a cryptocurrency casino, yet for some reason after BTC spiked our tokens were valued in USD.

This part was completely clear, and you're the only person to blame for not reading about the USD pegged token. Out of all the things you might be able to complain about, this is not one of them.

But how do you explain that the bankrolls value increases x3 times but your share of the bankroll has the same USD value as before?
Don't you own a share of the bankroll?

No. You own a "share" of BetKing (the company) and not the bankroll.

[iluvbitcoins]

The buy back price offered by BetKing will be based on the current total bankroll profit. So for example if the price of the token at the end of the crowdsale was $0.014 and the bankroll profit was $1,000,000 then the buy back price would be $0.024 (1,000,000/100,000,000 + 0.014).

http://web.archive.org/web/20170903041628/https://betking.io/

(1,000,000/100,000,000 + 0.014)

You are getting USD denominated bankroll profit.
If there is an extra 12 million$ in the bankroll, doesn't that constitute as profit?

Above you have the website of the ICO.
From it, you can honestly assume if BTC grows, the money remains in the bankroll, since it is stated that it is the intended use of the Betking Bankroll token.


This is everything where the so called USD peg is mentioned.

The total funds raised will determine the price per BetKing Bankroll token. We will take the total value of all funds at the current exchange rate at the end of the crowdsale to determine the total raised funds. E.g. If we raised $1,000,000 then the price per token would be $0.014 (1,000,000 / 70,000,000).
The buy back price offered by BetKing will be based on the current total bankroll profit. So for example if the price of the token at the end of the crowdsale was $0.014 and the bankroll profit was $1,000,000 then the buy back price would be $0.024 (1,000,000/100,000,000 + 0.014).
Every quarter BetKing will offer to buy back up to 10% of a holders tokens at the current buy back price.
Token holders may choose to sell offsite to 3rd parties or on any exchanges that may list BetKing Bankroll Tokens if they require more liquidity.

Find the part which can explain how a 12 million $ extra in the bankroll is not profit.
Or try to find anything else on the website that can support the claim.

You can find the bitcointalk thread here as well.
http://web.archive.org/web/20170629091501/https://bitcointalk.org/index.php?topic=1842538.0

No. You own a "share" of BetKing (the company) and not the bankroll.

And the company made 12 million dollars.

[actmyname]

Second table.

At what price Dean bought tokens back?

I was doing BKB -> BTC conversions as that was what you got when Dean was still doing token buybacks with the BKB token.

If the buyback continued until the 4th, you would have gotten the result outlined at the bottom of table 2. The part AFTER the tables is if you had kept the BKB as-is and never participated in any buybacks until after the BKT transfer.

[iluvbitcoins]

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)

BKB to BKT is 1:20 and not 1:30.
https://bitcointalk.org/index.php?topic=5119013.msg50101033#msg50101033

BKB holders
BKB holders can trade their tokens to BKT at a rate of 20 BKT for each BKB. Visit https://betking.io/token to swap.

That would be some 0.24BTC at the current price, so your stats would look like this:

Investment: 3BTC
Total value: 0.24BTC
Total loss: - 2.76BTC (-92%)

Investment: 13790.4$
Total value: 1896.96$
Total loss: - 11893,44$ (-86.24%)

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

Which exchange did you use for these prices?

[Cryptobillionaire]

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

 

this are all very valid points dean is a real and annoying scammer with the worst character.
i am a  victim of the christmas wager scam. i lost so much wagering. fuck dean. i wish him the worst thing in life dean fuck u scammer

[BetKing.io]

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)

BKB to BKT is 1:20 and not 1:30.
https://bitcointalk.org/index.php?topic=5119013.msg50101033#msg50101033

BKB holders
BKB holders can trade their tokens to BKT at a rate of 20 BKT for each BKB. Visit https://betking.io/token to swap.

That would be some 0.24BTC at the current price, so your stats would look like this:

Investment: 3BTC
Total value: 0.24BTC
Total loss: - 2.76BTC (-92%)

Investment: 13790.4$
Total value: 1896.96$
Total loss: - 11893,44$ (-86.24%)

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

Which exchange did you use for these prices?

You could have just read my reply a few pages back that showed you exactly how to calculate your token value, where you said you invested 0.5 btc.
Your 0.5 would be worth $613 right now. An increase since I posted due to us buying back tokens with the site profit.

But everyone just wants to ignore that and also prefers to speculate instead of listening to any facts I post.
Also, it was stated very clearly, even in the posts you reference, that the tokens were denominated in $ so no idea where you think there was an extra $12 million.
So how much more should it be now that Bitcoin is 1/3 of the price it was in dec 2017? No one seems to mention that.
How would there be an extra $12 million when 600 bitcoin of the original ICO funds were returned to investors from dec 2017 to dec 2018?
How would there be an extra $12 million available after all the expenses we had?

I mean you didn't even know that we dont have bet mining now and burned 50% of all bkt?
Keep up at least before posting.

The problem people like you and jollygood etc have caused is that now not all information is shared as freely because people just use it against us anyway.
Everyone who bought more than 50,000 BKB in the original ICO was emailed a pdf a few weeks ago detailing everything that has happened since the ico and possible future plans.
They also got a link to private Telegram group to discuss what's happened and what to do next.

None of them who have joined think it's a scam and that represents a huge % of the remaining $/tokens that were not bought back yet.
But all the people who had smaller amounts shouting scam because they can't read didn't get it because they would be more likely to just shout scam again and post all our plans in the forum which competitors could see.

I'll stress again, as fact, no one has lost any money (unless you chose to sell at a loss). There is no scam (if you bought stock and it dropped 60% is that a scam? If you bought btc at $20,000 and it dropped to $8000 is that a scam?)

Instead of running to post and speculating nonsense with idiots on this forum it was an infinitely better idea to chat directly with me, you know the only person that can tell you 100% of the facts.

So anyone who done that is now left in the dark and will just need to wait until token price increases to a price they wish to sell (if they sell at a loss it's their choice) while me and the vast majority of investors decide BetKings next steps.

[jpcfan]

all i see is a crypto dice owner who knows crypto gambling inside n out


he happen to see the ICO craze.

1) dean got in at the worse possible time, when ETH was crashing and ico's buzz was wearing off

2) dean had no clue how to start and run iCO correctly( should have stuck to day job)

3) dean fucked up on the ICO. but it was not intentional.

4) the backlash was so big something he didn' think would happen. and has responded incorrectly.


5) i been gambling since 2013, hung out with the biggest whales in dice , all of them bet HUGE at dean's site
and not one of them ever was scammed by dean. some of you were not here in 2013-2014.
it was crazy crazy times in crypto world . alot of dice sites were just scams

then there were the big "3" dice sites back then, primedice just-dice and pocketrocket casino(betking)


dooglus, stunna, and dean were the most honest ones in the game



this is a one time post i'm not to argue with a mob who will never look on all sides of a issue.


dean fucked up on the ico. he wasn't trying to scam people. he just didnt know what he was doing.

plus dean is right, where are investors at. all i see are 2-3 trolls and RHavar(who i have much respect for) who invested nothing in ico and bully dean everyday


dean is an excellent dice site owner and i trust depositing and leaving balance in there for weeks.

deans been at this 6+ years. show me any whales who got scammed from dean from gambling at his site. i can't find any

[RHavar]

Also, it was stated very clearly, even in the posts you reference, that the tokens were denominated in $ so no idea where you think there was an extra $12 million.

You're being rather disingenuous. Just because the tokens were priced in USD, doesn't make the crypto magically disappear. 

I'll stress again, as fact, no one has lost any money (unless you chose to sell at a loss).

You realize that applies to pretty much every single scam out there, right?

There is no scam (if you bought stock and it dropped 60% is that a scam? If you bought btc at $20,000 and it dropped to $8000 is that a scam?)

You're framing it like people are attacking you for losing money. But the truth is that you structured the ICO to give you exposure to bitcoin price. You were happy reaping the profits when it worked in your favor netting you significant amounts of money, and then renegged as soon as it worked against you.

That's what makes it a scam, and you a scammer.

--

BTW I dare you to stop all the nonsense deflection and try give a straight answer to something like this: https://bitcointalk.org/index.php?topic=4751127.msg51398067#msg51398067

[BetKing.io]

Also, it was stated very clearly, even in the posts you reference, that the tokens were denominated in $ so no idea where you think there was an extra $12 million.

You're being rather disingenuous. Just because the tokens were priced in USD, doesn't make the crypto magically disappear. 

I'm just going to ignore you now since you are clearly incapable of reading. There is no crypto left from the ICO as has been explained many, many times. Investors are very aware of it too.

I think you are best just keeping your nose out since you clearly don't know what you are talking about at all. You don't know how the business was run, you don't know how the business is now running and you don't know what investors know. Though you would if you were able to actually just read instead of keep repeating your bullshit.