BetKing.io is a blatant scam operated by Dean Nolan

[Cryptobillionaire]

i wont be surprised to see him paying a few lowlifes to come back him up here. i dot give a fuck about the ico scams. i need him to thoroughly explain the Christmas wager contest where he lured so many people and scammed them of their hard-earned money. i watch many players loose hundreds of thousands of dollars trying to be number one. this guy need to be sued. i have seen him lure people  severally and then once they are in, he cuts of what he used to lure them. the lowlife is a gredy and brainless scammer. guys , dont stop exposing him. people need to be aware of these scams

[BetKing.io]

i wont be surprised to see him paying a few lowlifes to come back him up here. i dot give a fuck about the ico scams. i need him to thoroughly explain the Christmas wager contest where he lured so many people and scammed them of their hard-earned money. i watch many players loose hundreds of thousands of dollars trying to be number one. this guy need to be sued. i have seen him lure people  severally and then once they are in, he cuts of what he used to lure them. the lowlife is a gredy and brainless scammer. guys , dont stop exposing him. people need to be aware of these scams

You claimed the other day you were scammed of 2.5 btc.
In Telegram 15 mins ago you claimed it was $1000.

Either way, if you were scammed why have you been playing on the site for the past few weeks? You only started posting after I removed the tip feature.

And it was documented after the wager contest that ALL bets were rolled back and all players got their balances reset. No player lost any money. I did as some players withdrew winnings during the contest.

[RHavar]

And it was documented after the wager contest that ALL bets were rolled back and all players got their balances reset. No player lost any money. I did as some players withdrew winnings during the contest.

It's weird that you consider that acceptable. It's almost like you don't understand how a casino works.  


BTW Can you give a straight answer to why you rolled everything back and didn't pay out the wager prizes? Or simply because it was cheaper than paying out?

[pdogbc]

i wont be surprised to see him paying a few lowlifes to come back him up here. i dot give a fuck about the ico scams. i need him to thoroughly explain the Christmas wager contest where he lured so many people and scammed them of their hard-earned money. i watch many players loose hundreds of thousands of dollars trying to be number one. this guy need to be sued. i have seen him lure people  severally and then once they are in, he cuts of what he used to lure them. the lowlife is a gredy and brainless scammer. guys , dont stop exposing him. people need to be aware of these scams

Actually several investors have paid into betking - not the other way around - and now bkt is rising as scammers and their schemes are getting cleared out. The downside is some of these people are left feeling helpless and their only response is to claim the site is a scam. Sad.

[marlboroza]

Don't you own a share of the bankroll?

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

It is not share of company:



New tokens are not pegged to dollars, which was original ICO deal, I mean, token swap wasn't part of the deal, but since betking decided to do swap, value of BKT which BKB token holder got should be the same as value of BKB tokens, I mean, 1BKB = 0.092$/whatever = 20/30/whatever BKT...

Investors are very aware of it too.

I am not sure why you are repeating "investors", while you clearly stated "token holders":



I'll just quote this again, seems betking missed it couple of times already:

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%.

[JollyGood]

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).

That is not entirely true. Yes many people believed him and cut him some slack as you say but not all.

Most of the people that "sided" with serial scammer Dean Nolan during that period were employees that were getting paid in bounty because they were promoting betking and the 2017 ICO using avatars and signatures in this forum.

I recall clearly getting attacked in 2017 by his paid trolls when I was highlighting everything that was wrong with the ICO and the whole project itself.

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.

The whole ICO was designed to ensure serial scammer Dean Nolan would be the only winner.

Before the ICO he tried to sell the betking website on multiple occasions but failed. The when he saw that ICOs were becoming the "in thing" he decided to to have the ICO but do you know what his motives were? He went for the ICO because he was unhappy with the bankroll investors getting a large share of any profit the site was making so in 2016 he returned all the bankroll to all the investors and then shut the website down announcing he would be back with an ICO.

Some 6 months later in mid 2017 he re-emerged with his ICO plans but everything in the ICO was constructed in a way to make him rich without a worry about investors. For example, these were the statistics for the final audit:

btc - 1,046.60623396 ($4,811,039.536)
eth - 4619.11055426 ($1,622,277.817)
ltc - 856.08369263 ($67,211.1307083813)

Total $ = 6,500,528.48
BKB Initial price = $0.09286

The distribuition was clear: 50% of all funds were to go to the bankroll and 50% of all funds were supposed to be used for "marketing, promotions, SEO, design development, server costs and legal". Simple so you thought but there was a huge catch and in order to scam, a scammer can work in various ways....

According to the audit +500 BTC, +2250 ETH and +425 LTC were supposed to be used for the bankroll and in identical terms +500 BTC, +2250 ETH and +425 LTC were supposed to be used for "marketing, promotions, SEO, design development, server costs and legal" so if he was going to siphon-off funds from the bankroll it would have been spotted immediately by investors therefore he diverted 2017 ICO funds that were supposed to be used for "marketing, promotions, SEO, design development, server costs and legal" to his own pockets.

Of the 100 million BKB tokens created, 70 million were sold off to the public and 30 million were retained by serial scammer Dean Nolan for "ICO bounties, testing bounties, advisors, hiring, future marketing and development". The 30 million remaining were not supposed to be part of the profit distribution but serial scammer added them to the calculation too therefore diluting the profit of the investors.

Keeping aside the 50% bankroll funds, after he exhausted all remaining funds (theft diverted to his own pockets and misuse on misadventure and failings because of incompetence) he decided to turn his attention to the bankroll funds. +500 BTC, +2250 ETH and +425 LTC equivalent was sitting there but the betking website was on the verge of collapse so he decided a new scam. He used the bankroll funds to cash-in all his BKB tokens but could only do it if he did the same for all investors thus leaving what very little chance betking had to survive as almost impossible.

In the end, he diverted large amounts of the 50% of raised funds which were to be used for "marketing, promotions, SEO, design development, server costs and legal" for his own pockets as there was no way it was spent on "marketing, promotions, SEO, design development, server costs and legal". Apart from plugin in games using livetable affiliates and a pre-2016 casino game he tweaked and re-released after withdrawing it, he never spent a single cent$ on 'design development'. He expects people to believe he spent +500 BTC, +2250 ETH and +425 LTC on "marketing, promotions, SEO, design development, server costs and legal"? That would have been over $3.25 million at the time. Even the most incompetent of business owners would have used just a few thousand USD$ to hire a few coders and create a new website from scratch but serial scammer Dean Nolan is as pathetic as they come.

Then let us turn to the matter of the 30 million BKB tokens that betking retained for "ICO bounties, testing bounties, advisors, hiring, future marketing and development". That was another get-rich-quick scheme for this serial scammer. He sold those tokens in the scam "bankroll funded buy-back scheme" and diverted the funds to himself.

He broke ICO promises by not fulfilling them. Not a single new game was introduced or created. He then misused funds due to sheer incompetence on so-called development that nobody ever saw the benefits of then did the ultimate betrayal with out-and-out theft by siphoning-off funds for his own back pocket.

This pathetic imbecile made millions for his own pockets by siphoning-off ICO funds all because he felt he could operate with impunity and make unilateral decisions and nobody would (or could) hold him to account.

He tried to close betking down in late 2018 and open his next scam "bifsafe exchange" which looks like a $50 off the shelf turnkey project, which he claimed was custom coded. He wanted to convert all BKB tokens to the bitsafe tokens and close betking down but as he was looking to raise (wait for it....) USD $10 million it was bound to fail.

After he had his tail between his legs and put his "bitsafe" idea back on the scrapheap he then scammed winners of the 2018 Christmas wager out of 20 BTC +EV by citing "cheating" that never ever took place. He miscalculated the odds and did not expect that many people to bet so he scammed winners because he did not want to pay out  

Then he went for the EOS tokens and created 10 billion BKT tokens. For some reason he unilaterally decided his value to the betking project was 10% of all BKT tokens so he kept 1 billion for himself. Of those 9 billion no doubt several hundreds of millions at the minimum will be diverted/siphoned-off for his own pockets through the "Awarded for promotions" loophole

Serial scammer Dean Nolan is alone to be blamed for the debacle and utter failure of the betking website.


AT NO POINT DID SERIAL SCAMMER DEAN NOLAN OFFICIALLY HAVE ANY OF THE 2017 ICO 100 MILLION BKB TOKENS CREATED ESPECIALLY FOR HIMSELF OR "THE TEAM"

THE ONLY WAY HE COULD HAVE OWNED ANY BKB TOKENS HIMSELF WAS IF HE ACTUALLY PURCHASED THEM EITHER PRE-ICO OR POST-ICO USING HIS OWN PERSONAL FUNDS JUST LIKE ANY OTHER INVESTORS WOULD DO SO HOW DID HE END UP MAKING MILLIONS OUT OF THE 2017 BETKING ICO WHILE THE WEBSITE ITSELF NEARLY COLLAPSED WHEN HE DID NOT SUPPOSEDLY RECEIVE ANY FREE BKB TOKENS?

SIPHONING-OFF FUNDS IS THE OBVIOUS ANSWER

[iluvbitcoins]

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?

Please show me the data which shows this.
What expense is 12 million  
Did you buy a BetKing Bugatti?

[pdogbc]

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).

That is not entirely true. Yes many people believed him and cut him some slack as you say but not all.

Most of the people that "sided" with serial scammer Dean Nolan during that period were employees that were getting paid in bounty because they were promoting betking and the 2017 ICO using avatars and signatures in this forum.

I recall clearly getting attacked in 2017 by his paid trolls when I was highlighting everything that was wrong with the ICO and the whole project itself.

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.

The whole ICO was designed to ensure serial scammer Dean Nolan would be the only winner.

Before the ICO he tried to sell the betking website on multiple occasions but failed. The when he saw that ICOs were becoming the "in thing" he decided to to have the ICO but do you know what his motives were? He went for the ICO because he was unhappy with the bankroll investors getting a large share of any profit the site was making so in 2016 he returned all the bankroll to all the investors and then shut the website down announcing he would be back with an ICO.

Some 6 months later in mid 2017 he re-emerged with his ICO plans but everything in the ICO was constructed in a way to make him rich without a worry about investors. For example, these were the statistics for the final audit:

btc - 1,046.60623396 ($4,811,039.536)
eth - 4619.11055426 ($1,622,277.817)
ltc - 856.08369263 ($67,211.1307083813)

Total $ = 6,500,528.48
BKB Initial price = $0.09286

The distribuition was clear: 50% of all funds were to go to the bankroll and 50% of all funds were supposed to be used for "marketing, promotions, SEO, design development, server costs and legal". Simple so you thought but there was a huge catch and in order to scam, a scammer can work in various ways....

According to the audit +500 BTC, +2250 ETH and +425 LTC were supposed to be used for the bankroll and in identical terms +500 BTC, +2250 ETH and +425 LTC were supposed to be used for "marketing, promotions, SEO, design development, server costs and legal" so if he was going to siphon-off funds from the bankroll it would have been spotted immediately by investors therefore he diverted 2017 ICO funds that were supposed to be used for "marketing, promotions, SEO, design development, server costs and legal" to his own pockets.

Of the 100 million BKB tokens created, 70 million were sold off to the public and 30 million were retained by serial scammer Dean Nolan for "ICO bounties, testing bounties, advisors, hiring, future marketing and development". The 30 million remaining were not supposed to be part of the profit distribution but serial scammer added them to the calculation too therefore diluting the profit of the investors.

Keeping aside the 50% bankroll funds, after he exhausted all remaining funds (theft diverted to his own pockets and misuse on misadventure and failings because of incompetence) he decided to turn his attention to the bankroll funds. +500 BTC, +2250 ETH and +425 LTC equivalent was sitting there but the betking website was on the verge of collapse so he decided a new scam. He used the bankroll funds to cash-in all his BKB tokens but could only do it if he did the same for all investors thus leaving what very little chance betking had to survive as almost impossible.

In the end, he diverted large amounts of the 50% of raised funds which were to be used for "marketing, promotions, SEO, design development, server costs and legal" for his own pockets as there was no way it was spent on "marketing, promotions, SEO, design development, server costs and legal". Apart from plugin in games using livetable affiliates and a pre-2016 casino game he tweaked and re-released after withdrawing it, he never spent a single cent$ on 'design development'. He expects people to believe he spent +500 BTC, +2250 ETH and +425 LTC on "marketing, promotions, SEO, design development, server costs and legal"? That would have been over $3.25 million at the time. Even the most incompetent of business owners would have used just a few thousand USD$ to hire a few coders and create a new website from scratch but serial scammer Dean Nolan is as pathetic as they come.

Then let us turn to the matter of the 30 million BKB tokens that betking retained for "ICO bounties, testing bounties, advisors, hiring, future marketing and development". That was another get-rich-quick scheme for this serial scammer. He sold those tokens in the scam "bankroll funded buy-back scheme" and diverted the funds to himself.

He broke ICO promises by not fulfilling them. Not a single new game was introduced or created. He then misused funds due to sheer incompetence on so-called development that nobody ever saw the benefits of then did the ultimate betrayal with out-and-out theft by siphoning-off funds for his own back pocket.

This pathetic imbecile made millions for his own pockets by siphoning-off ICO funds all because he felt he could operate with impunity and make unilateral decisions and nobody would (or could) hold him to account.

He tried to close betking down in late 2018 and open his next scam "bifsafe exchange" which looks like a $50 off the shelf turnkey project, which he claimed was custom coded. He wanted to convert all BKB tokens to the bitsafe tokens and close betking down but as he was looking to raise (wait for it....) USD $10 million it was bound to fail.

After he had his tail between his legs and put his "bitsafe" idea back on the scrapheap he then scammed winners of the 2018 Christmas wager out of 20 BTC +EV by citing "cheating" that never ever took place. He miscalculated the odds and did not expect that many people to bet so he scammed winners because he did not want to pay out  

Then he went for the EOS tokens and created 10 billion BKT tokens. For some reason he unilaterally decided his value to the betking project was 10% of all BKT tokens so he kept 1 billion for himself. Of those 9 billion no doubt several hundreds of millions at the minimum will be diverted/siphoned-off for his own pockets through the "Awarded for promotions" loophole

Serial scammer Dean Nolan is alone to be blamed for the debacle and utter failure of the betking website.


AT NO POINT DID SERIAL SCAMMER DEAN NOLAN OFFICIALLY HAVE ANY OF THE 2017 ICO 100 MILLION BKB TOKENS CREATED ESPECIALLY FOR HIMSELF OR "THE TEAM"

THE ONLY WAY HE COULD HAVE OWNED ANY BKB TOKENS HIMSELF WAS IF HE ACTUALLY PURCHASED THEM EITHER PRE-ICO OR POST-ICO USING HIS OWN PERSONAL FUNDS JUST LIKE ANY OTHER INVESTORS WOULD DO.

SO HOW DID HE END UP MAKING MILLIONS OUT OF THE 2017 BETKING ICO WHILE THE WEBSITE ITSELF NEARLY COLLAPSED?

SIPHONING-OFF FUNDS IS THE OBVIOUS ANSWER

So you lost money in an investment. Doesn't mean it's a scam. Stop crying like an obsessed schoolgirl and do something positive. You'll feel better. Really.

[JollyGood]

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 lied so much he has no idea about the list of his deceit any more  

I'll just quote this again, seems betking missed it couple of times already:

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%.

If that is not a buy-back guarantee then what else could it be?

Serial scammer Dean Nolan will no doubt have more lies and excuses to add....

[actmyname]

@marlboroza

These are the relevant parts of BetKing's stance on buybacks.

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?

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

Thus, we can conclude that simply writing terms on the site does not guarantee that they are going to be in-effect for any predictable duration.

In this case, there isn't anything exactly stopping BetKing from changing up the structure again if they decide not to buyback the BKT tokens, is there?

It's either:

A) Buybacks were part of the original token terms and were removed subsequently
B) Buybacks were not part of the original token terms but were written on-site with no remark indicating removal thereof

[pdogbc]

@marlboroza

These are the relevant parts of BetKing's stance on buybacks.

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?

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

Thus, we can conclude that simply writing terms on the site does not guarantee that they are going to be in-effect for any predictable duration.

In this case, there isn't anything exactly stopping BetKing from changing up the structure again if they decide not to buyback the BKT tokens, is there?

It's either:

A) Buybacks were part of the original token terms and were removed subsequently
B) Buybacks were not part of the original token terms but were written on-site with no remark indicating removal thereof

Most sites' terms say that terms can change. I'd be concerned if a crypto site didn't say that as nothing is proven and we are in uncharted territory. Makes it exciting times and luckily betking is surviving and bkt price rising due to better management and removing schemes that scammers took advantage of. Can't blame the scammers for getting upset.

[actmyname]

Most sites' terms say that terms can change.

Sure, this is usually the case when it's found in the ToS. These were not. Again, the archive didn't have anything that would make a prospective investor assume that the terms could change at any time. Especially when it concerns long-term financial fulfillments like this.

I'd be concerned if a crypto site didn't say that as nothing is proven and we are in uncharted territory.

If a site didn't change terms on a whim?

Makes it exciting times and luckily betking is surviving and bkt price rising due to better management and removing schemes that scammers took advantage of. Can't blame the scammers for getting upset.

Who is scamming here? What "scheme" is this buyback? I'd say that this was a pretty large part of the whole token.Here. http://web.archive.org/web/20170629082143/https://betking.io/

A percentage of the profit made from bankrolled games will be used to buy back BetKing Bankroll tokens from holders.

[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

 

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

Yes the manner in which he scammed the winners of the 2018 Christmas wager was disgraceful.

He gave generous odds because he thought it might generate a few new bets but he miscalculated because too many people took advantage of the odds. Nobody forced serial scammer Dean Nolan to offer those odds in the first place.

The idea he squirmed his way out of it by lying when he said cheating took place was an absolute disgrace.

[marlboroza]

@marlboroza

These are the relevant parts of BetKing's stance on buybacks.

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?

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

That sounds different than this:

I'm buying tokens back with my own profit, the 30 million tokens I keep from the ICO.
There's not going to be any significant reduction in bankroll, max 10% every 3 months.
Yes I will then be making a profit on the tokens I hold, the ones not being sold plus the ones I buy back, that's pretty normal and how most businesses work.

Remaining token holders have the benefit that their tokens have much more value the longer they hold them.They can choose to never sell them back to me for many years or if the site was to be sold.

There's no dilution going on at all.

This:

The buy back price will always be profit divided by 100,000,000 as there will always be that many tokens.
No tokens will be burned. Eventually I will hold all tokens at some time in the future, depeding on when holders want to sell.

This:

My buy back price does not reduce after buying back. So if sa I bought 10% of tokens back for $1 or whatever after first quarter.
The remaining tokens are still worth $1 and then have the profit of next 3 months added on top of that

This:

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%.
But a token holder doesn't need to sell their tokens, they can continue to hold.
Also token holders are free to make an offer to sell more than 10% and sometimes I might do so.

And now completely different model:

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.

A percentage of the profit made from bankrolled games will be used to buy back BetKing Bankroll tokens from holders.

Dean said he bough back 70% of tokens IIRC. He could have done this if site made $4.5M profit($6.5M raised on ICO, IIRC), but yet again:

I did say that 600 btc (the bankroll funds since we made no profit) was used to buy back tokens. That is 600 btc that comes right out the bankroll.

So when I changed to this model I owned 70% of all BKB (you lot seem to want to ignore that fact, 600 btc of the original funds was used to buy these tokens).

Businesses fail every day. It doesn't make them scams.

Did his business fail? He was supposed to buy tokens with profit he made from bankroll...

I'm buying tokens back with my own profit, the 30 million tokens I keep from the ICO.

...which he was supposed to use for "bounties, testing bounties, advisors, hiring, future marketing and development" anyway.

All this brings me to one question:

You are under the assumption that this was all a personal loan I got from investors.

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.

Is site now mysteriously bringing traffic and players? What are the odds  

[chazley]

Betking sure has been exceptionally lucky. Original site ran at 200% EV and current iteration running at 150%.

[JollyGood]

@marlboroza

These are the relevant parts of BetKing's stance on buybacks.

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?

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

That sounds different than this:

I'm buying tokens back with my own profit, the 30 million tokens I keep from the ICO.
There's not going to be any significant reduction in bankroll, max 10% every 3 months.
Yes I will then be making a profit on the tokens I hold, the ones not being sold plus the ones I buy back, that's pretty normal and how most businesses work.

Remaining token holders have the benefit that their tokens have much more value the longer they hold them.They can choose to never sell them back to me for many years or if the site was to be sold.

There's no dilution going on at all.

Businesses fail every day. It doesn't make them scams.

Did his business fail? He was supposed to buy tokens with profit he made from bankroll...

I'm buying tokens back with my own profit, the 30 million tokens I keep from the ICO.

...which he was supposed to use for "bounties, testing bounties, advisors, hiring, future marketing and development" anyway.


Is site now mysteriously bringing traffic and players? What are the odds  

Not all failed businesses are scams but betking was surely a massive scam as all the evidence shows.

This pathetic imbecile serial scammer Dean Nolan admitted he stole 30 million BKB tokens which were supposed to be used for "ICO bounties, testing bounties, advisors, hiring, future marketing and development".

It clearly means that disgusting imbecile serial scammer Dean Nolan made $2,785,800 for his own pockets at the buy-back price which was clear theft and clear siphoning of the funds which was owned by betking but he used as his personal bank.

[juzam1337]

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 is actually a very good list.

By the way it is ridiculous that Dean brags about the token price, after scamming the ICO investors.

Everyone know that the price of a token with a daily trading volume of ~600USD can be very easily manipulated.

And there is another problem:

https://imgur.com/a/8n5QA4i

As you can see here, only 14.6% of the betmining token have been mined, before dean disabled betmining from one day to another.
Only 3.5% of the token reserved for promotions have been given out.
Only 22.5% of the token reserved for airdrops haven been given out.
But you know which token have been given out 100%? The one reserved for the "team" aka Dean himself.

Dean owned 70+% of all BKB token, and he owns a even higher % of all BKT. Right now he makes some money, because there is some betting volume. But there is literally no reason to play on this site compared to bustabit (much higher limits), stake or bitsler (higher limits, more and better games).

At some point Dean will decide that he makes more money dumping his shitcoin on the market compared to hodling it and he will abandon the project and the token will be useless and worthless.

[JollyGood]

This is actually a very good list.

By the way it is ridiculous that Dean brags about the token price, after scamming the ICO investors.

Everyone know that the price of a token with a daily trading volume of ~600USD can be very easily manipulated.

And there is another problem:



As you can see here, only 14.6% of the betmining token have been mined, before dean disabled betmining from one day to another.
Only 3.5% of the token reserved for promotions have been given out.
Only 22.5% of the token reserved for airdrops haven been given out.
But you know which token have been given out 100%? The one reserved for the "team" aka Dean himself.

Dean owned 70+% of all BKB token, and he owns a even higher % of all BKT. Right now he makes some money, because there is some betting volume. But there is literally no reason to play on this site compared to bustabit (much higher limits), stake or bitsler (higher limits, more and better games).

At some point Dean will decide that he makes more money dumping his shitcoin on the market compared to hodling it and he will abandon the project and the token will be useless and worthless.

A very good post from you.

Yes the bet mining has been disabled on the betking website yet only 440 million of the staggering 3 billion tokens set aside were released.

3 billion bet mining tokens minus 440,737,197 released tokens leaves a total of over 2.3 billion tokens (to be exact 2,559,262,803) that will get siphoned-off in to the pockets of serial scammer Dean Nolan even though he stated in his trashy Telegram: "Announcement: We will be removing Bet Mining on Saturday the 1st of June. The remaining tokens allocated for bet mining will be burned"

Another failure on part of serial scammer Dean Nolan when he kept aside 3 billion BKT tokens for bet mining but then pulled the plug on it? What an idiot, what an imbecile  

I agree with you, at some point he will dump the BKT holdings he has and he will cash in because he has been unable over many years to sell this scam website so the only way he can maximise his gains is to dump them and let the pathetic website slide slowly in to an abyss

[RichGang]

i said it before but everyone thought i was ranting. dean is a useless scammer.
first he came up with selling the site, i told everyone that he is gonna run with the cash if anyone pays, i think people where smart enough no to fall for it. then he came up with ico bullshit. i said it that the reason for the ico is to pull off the biggest scam on bitcoin talk and now u can all see it gradually happening.
his next move is to run with everyones cash. he is just waiting to hit the target. be wise guys.
this is how the best scammers operate. they make u trust them then they strike.
just imagine the retard burning a whooping 5billion bkt lol.
he lured guys into the site using the chrismas wager contest promissing 20btc. i laughed when i say it. i know dean is too stingy and greedy to just give a whooping 20btc just like that. the most annoyng shit is that, he lured some serious whales, scammed them all then stopped talking about it after 12 midnight. the bastard did not even cancel it a day to the end of contest. he cancelled it 1 day after the contest ended. what a pathetic scammer.
watch out, dean is gonna run with peoples cash . its just a matter of time.

[JollyGood]

Regarding BKT tokens:

Burned: 5,261,437,378
In use:  1,301,745,479

So here is the current distribution list:

Serial scammer Dean Nolan: 1 billion BKT
BKT to BKB Swap:              505 million BKT
Promotions, Leaderboard:    1,928,578,643 BKT


No doubt serial scammer Dean Nolan will siphon-off funds from the "promotions, leaderboard" tokens to his own pockets but since there will be no m

Another disastrous error was in serial scammer Dean Nolan claiming 200,000 new users would start using betking when he applied the freebie EOS BKT airdrops BUT he only airdropped 675 million BKT out of the 3 billion has burned set aside and then burned the remaining +2 billion BKT (to be exact: 2,325,000,000)

What happens to those +505 million BKT if they are not exchanged for original BKB tokens by the August 2019 deadline?

When a project manager with a whole list of miscalculations, bad business decisions and red-hand scams decides to burned (5,261,437,378) +5 billion tokens out of 10 billion tokens then there has to be a catch.

Of the total 4,738,562,622 tokens remaining, only 1,301,745,479 are in use. Serial scammer Dean Nolan is sitting on a minimum 1 billion BKT guaranteed for himself but with tokens he will eventually siphon-off along with the ones he already has siphoned-off, it means he will probably have a minimum 30%/35% ownership of betking and for all he did (the scams, the lies, the mismanagement) he will try his best to make more money out of investors.