decentralised RNG

[QuadsPoker]

Hi guys,

probably most of you guys know the Tony G related ICO, coinpoker, from some time ago. Do you guys things after finally releasing the decentralised RNG will attract more players and will have a positive effect on the value. Or do you guys think this project has gone to far to recover again and regain its trust.

I participated in the ICO myself and have been playing for a couple of months, tournaments and PLO cash games. In this way I accumulated almost 800.000 CHP on top of the amount I purchased during the ICO. In the past couple of months I sold of most of the coins that I won by playing games. But in some way I decided to keep a hold on 250,000 CHP.

But price keeps dropping but in some way I have a feeling of keeping them a little longer. I hope price will recover to 0.10$ or more again when BTC, ETH lifts of again and with their launch of the decentralised RNG.

Some facts

I bought during the first round of the ICO




Current price of CHP




Official release of their decentralised RNG

https://youtu.be/xfta5itnRQY


Knowing this facts, do you think I should keep my 250,000 coins that I have left or do you think price went to far and people lost trust to boost the price back up again?

[nomadcrypto]

while the concept seems pretty cool I see several issues with the project as a whole. The major issues I see are
1) it doesn't seem to have source code that is publicly available despite calling itself "opensource"
2) the ico/project had a meh rating(20% from coingecko) from most of the ico rating sites
3) dev team has been quiet on social media - they responded to my comment on the youtube video you linked to within a hour of my comment. that is pretty responsive I'd say
4) extremely low market cap and liquidity - meaning whales are not likely to play since the total trade volume of CHP was 8k usd yesterday which wont cover a single table worth of $5/$10 level buyins/cashouts
5) texas holdem is likely to die in the coming years due to artifical intelligence and shortly after that omaha will follow suit.
and probably more if I looked a bit deeper(team, etc)

issue number 4 could simply be due to the overall crypto bear market. This wouldn't worry me as much as the other points listed since what the overall crypto market is experincing right now was to be expected. I've seen the price of bitcoin do exactly what it has done recently several times(rise from ~$2/btc to $120/btc and fall back to roughly $5, rise from $100/btc to $1200 and fall back to $250, etc).

edit:
I stand corrected regarding the source, or at least the source for the RNG. It is located here: https://github.com/CoinPokerOfficial/poker-decentralized-rng

After looking at the source it seems like a legit concept. I've implented something similar in the past for a solidity based slot machine contract. I'm not a crypotgraphy expert but I think that it is probably going to end up being a secure method for generating a random number in a trustless way.

[BitcoinGirl.Club]

Knowing this facts, do you think I should keep my 250,000 coins that I have left or do you think price went to far and people lost trust to boost the price back up again?

I don't think anyone out here can give you any advise regarding your coins. Follow your instincts. Holding is not always the best answer that does not mean that you should not hold and wait for the right time. Reality is that no one knows when is the right time!

Good luck.

[leowonderful]

Seems pretty meh of a project to me right now. Decentralized RNG seems like a pretty niche feature at this moment, and we could be in a crypto bear market for months and months more without any sort of meaningful recovery to past prices. I'd much rather buy into a larger coin or alt like BTC or ETH sooner than a smaller coin like CoinPoker that you're mentioning here, as it is entirely possible that some alts could die off in an extended bear market that we might be looking at in the near future, but if you do believe in this project, invest some into it. Can't hurt to diversify your portfolio a bit at any time.

[SyGambler]

does decentralized RNG really worth buying the shitty worthless CHP to play with ?? I don't think so
there are already tons of good poker sites , yeah you can't be 100% sure about RNG but also these sites have good repu and won't risk rigging their RNG since they are already making tons of money

coinpoker raised millions and IMO they failed so hard , their product is still way too weak comparing with what they collected
I really feel sad for people who thought a poker site needs that much of investors money , Tony G and his friends are the only ones who are benefiting from this scam

[QuadsPoker]

does decentralized RNG really worth buying the shitty worthless CHP to play with ?? I don't think so
there are already tons of good poker sites , yeah you can't be 100% sure about RNG but also these sites have good repu and won't risk rigging their RNG since they are already making tons of money

coinpoker raised millions and IMO they failed so hard , their product is still way too weak comparing with what they collected
I really feel sad for people who thought a poker site needs that much of investors money , Tony G and his friends are the only ones who are benefiting from this scam

Yeah i know. I regret i spent so much during the ico. Luckily i recovered my fiat losses by playing over there.
So everything i win or sell now is 100% profits. Just not sure after they finally released the RNG iT Will have a positive effect on the value. They lost lots of credibility previous months. Dont know they can regain Some trust

[SyGambler]

does decentralized RNG really worth buying the shitty worthless CHP to play with ?? I don't think so
there are already tons of good poker sites , yeah you can't be 100% sure about RNG but also these sites have good repu and won't risk rigging their RNG since they are already making tons of money

coinpoker raised millions and IMO they failed so hard , their product is still way too weak comparing with what they collected
I really feel sad for people who thought a poker site needs that much of investors money , Tony G and his friends are the only ones who are benefiting from this scam

Yeah i know. I regret i spent so much during the ico. Luckily i recovered my fiat losses by playing over there.
So everything i win or sell now is 100% profits. Just not sure after they finally released the RNG iT Will have a positive effect on the value. They lost lots of credibility previous months. Dont know they can regain Some trust

since you are already in profit that removes the stress , at the current marketcap it's really tricky since the cap is a little bit under one million dollar
I don't think the RNG will change the situation , but IDK if you should sell now or not cause the current price is really low
poker is still dominated by the big names and I can't see any crypto site changing that especially when they are offering their coin to play with instead of btc or eth

[buwaytress]

Yeah i know. I regret i spent so much during the ico. Luckily i recovered my fiat losses by playing over there.
So everything i win or sell now is 100% profits. Just not sure after they finally released the RNG iT Will have a positive effect on the value. They lost lots of credibility previous months. Dont know they can regain Some trust

since you are already in profit that removes the stress , at the current marketcap it's really tricky since the cap is a little bit under one million dollar
I don't think the RNG will change the situation , but IDK if you should sell now or not cause the current price is really low
poker is still dominated by the big names and I can't see any crypto site changing that especially when they are offering their coin to play with instead of btc or eth
[/quote]

To me the thing was this type of innovation was a good thing, but it didn't need to raise millions in an ICO, it just needed to develop the product and find a loyal userbase.

Poker players, if I can also say, they know they're playing against others, so RNG may not really be a priority since it just means the same odds and edges affect other players unless the casino is colluding with the players of course. Rakes are what casinos earn from poker, so no point in fixing any of the tables. You want people to play a lot and play often.

It's not the only project to have done an ICO for nothing though, every ICO almost planned fundraising without actually thinking through simple financials like budgets and activity budgeting.

If they could now focus on actually developing the system, and spending effort on marketing - not PR, mind you, but marketing - to build a userbase. Fact is, getting a poker platform is already tough even with centralised platforms.

And yeah, BIG mistake of any gambling place to not choose Bitcoin.