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[o48o]

Why would they burn the token after buying?
Doing that wouldn't help the community nor them.  If it were bought by someone else who will hold for dividends we shall see if BET is worth. The supply is less than 100M, don't waste them.

Not sure where they got the idea of burning the bought tokens, i haven't heard anything even hinting to that. But the supply doesn't really matter, only dividends and marketcap. And we don't even have a marketcap yet.

If you haven't heard anything about the bought tokens being bought then why would you trust what others are speculating. Personally, I also wasn't aware of tokens being burnt after being bought but that does not make it any true, whether Bet tokens are or aren't burnt is something to be confirmed before jumping to conclusions.

You misunderstood or this wasn't aimed at me. I was talking about the burning speculation part. Admins on the channel have been hinting that buybacks have been planned for a long time though. Also, i am not sure what conclusion you think i jumped on.

[mu_enrico]

What token burn? It's just a baseless gossip AFAIK.
BET token is not a utility token that benefited from this "corporate action."

Anyway, I felt that the progress is slowing down lately — not a single update released from their channel. I hope their plan of getting listed on the end of July or the beginning of August will be realized.

[CryptoCheckk]

What token burn? It's just a baseless gossip AFAIK.
BET token is not a utility token that benefited from this "corporate action."

Anyway, I felt that the progress is slowing down lately — not a single update released from their channel. I hope their plan of getting listed on the end of July or the beginning of August will be realized.

Well the buyback has been confirmed by the EOSBet team, we just don't know the details as of yet. Burning could a option, but also putting them back in the pool as bonus on your games, or they just keep them, I don't know.

I do agree about progress at least feels like it's slowing down, but I bet progress is actually going faster as they hired new developers pretty recently. I think they are just planning every release (which may or may not already be done) more in line with the Binance Dex listing, which makes sense. They want to get the hype around the listing time to have a positive effect on the price. Together with the buyback that should be very good. Specially since the total supply of 88M is already pretty low compare to a lot of other projects.

I just hope binance dex validators will accept them soon.

[rexxarofmoknathal]

Why would they burn the token after buying?
Doing that wouldn't help the community nor them.  If it were bought by someone else who will hold for dividends we shall see if BET is worth. The supply is less than 100M, don't waste them.

Not sure where they got the idea of burning the bought tokens, i haven't heard anything even hinting to that. But the supply doesn't really matter, only dividends and marketcap. And we don't even have a marketcap yet.

If you haven't heard anything about the bought tokens being bought then why would you trust what others are speculating. Personally, I also wasn't aware of tokens being burnt after being bought but that does not make it any true, whether Bet tokens are or aren't burnt is something to be confirmed before jumping to conclusions.

You misunderstood or this wasn't aimed at me. I was talking about the burning speculation part. Admins on the channel have been hinting that buybacks have been planned for a long time though. Also, i am not sure what conclusion you think i jumped on.

My comment wasn't aimed at you but the previous commentator. You seemed to be just as puzzled as I was when I read about people thinking and saying that BET tokens are burnt after being bought 

[fullhdpixel]

Buybacks are not the same as burns though. I mean they can buyback from the shareholders for a fair price and as long as its not forced there is no problem. For example if they get listed in some exchange and then buy it on the market price there then its totally fine and they can do whatever they want with it.

But, wherever this burn topic came out they are missing the point that team would have 30%+ of the website so why would they burn it. Burning tokens is only feasible on tokens that have too much supply and care about the price. Bet token is not something we care about the price, it is the amount of dividends we can get each week that we care about. Hence, burning would achieve absolutely nothing for us nor the team. As long as we can buy it and then get dividends the team could buyback as much as they want and keep it.

[guoyu78]

In order to do buy back successfully they would have to spend money they earned from that 30% share they have, I am not sure how much of that profit they are keeping in their pockets and how much of it they are spending but I feel like the marketing team is usually asleep and they never do any marketing at all so to tell the team to get all of their profits, put it aside instead of spending and then spend it on buying bet token back from people on an honest price would be moronic, it is obvious the team is not a team like that.

I have always supported the business but never the team, thank god it is a decentralized website since it is obvious that if this team ran this as a centralized casino they would have failed long time ago. They literally gave everyone ownership so they wouldn't have to work themselves.

[o48o]

buying bet token back from people on an honest price would be moronic, it is obvious the team is not a team like that.

What's a "honest" price? Do you understand how they buybacks work?

I have always supported the business but never the team, thank god it is a decentralized website since it is obvious that if this team ran this as a centralized casino they would have failed long time ago. They literally gave everyone ownership so they wouldn't have to work themselves.

This is just a weird claim. How "everyone" is having an ownership in this? Just because you have dividends doesn't mean you have an ownership. And about them not working, whom of us do you think is working to build the site? You?

[mu_enrico]

Burning could a option, but also putting them back in the pool as bonus on your games, or they just keep them, I don't know.

It would be best if they put it back into the pool, as "Not Distributed" and waiting to be "mined." The idea of burning the token to drive up the price is just ugly IMO if we think this is as a long-time project.

Think about how quick the token depleted if this site becomes mainstream.

[cabron]

Burning could a option, but also putting them back in the pool as bonus on your games, or they just keep them, I don't know.

It would be best if they put it back into the pool, as "Not Distributed" and waiting to be "mined." The idea of burning the token to drive up the price is just ugly IMO if we think this is as a long-time project.

Think about how quick the token depleted if this site becomes mainstream.

Not sure if all will agree to buying the tokens back and then put them all in the pool for mining, it will be the question of where the money are from to define where it goes. But if consensus works, we can all agree it goes for the marketing of the project. The coming Binance DEX listing needs to be promoted as well as to have more players to come.

[CryptoCheckk]

Bet token is not something we care about the price, it is the amount of dividends we can get each week that we care about. Hence, burning would achieve absolutely nothing for us nor the team. As long as we can buy it and then get dividends the team could buyback as much as they want and keep it.

Well... burning tokens would mean less circulating supply, which mean the profit of the casino would be distributed among less tokens, which means more dividends per token 

[MaxWMG]

buying bet token back from people on an honest price would be moronic, it is obvious the team is not a team like that.

What's a "honest" price? Do you understand how they buybacks work?

I have always supported the business but never the team, thank god it is a decentralized website since it is obvious that if this team ran this as a centralized casino they would have failed long time ago. They literally gave everyone ownership so they wouldn't have to work themselves.

This is just a weird claim. How "everyone" is having an ownership in this? Just because you have dividends doesn't mean you have an ownership. And about them not working, whom of us do you think is working to build the site? You?

Fully agree. In EOSbet economy burning and buyback looks more speculative than useful.

[ryzaadit]

Everyone talking about Burn, Burn, Burn and Burn Token. Did the team announced that they will burn the token, come on burn token not always solved a price problem.

To be honest, it's just like a short fomo for me. And don't really hope too much if the team burn a token.

[tbct_mt2]

Everyone talking about Burn, Burn, Burn and Burn Token. Did the team announced that they will burn the token, come on burn token not always solved a price problem.

To be honest, it's just like a short fomo for me. And don't really hope too much if the team burn a token.

Don't play with burn, because you will get burned later.
Token-burning does not help token increasing in value, if token itself has low intrinsic value.

[sockpuppet1911]

Still no votes from the bnb validators. Are they waiting for something like a white paper before they do anything?

[EOSBet]

It's official - our Binance_DEX listing proposal has been submitted!

We would like to thank the EOSBet community for all the support!

[davinchi]

I think that "token burn" or even "buyback" all started because someone just mentioned it and all of us went with it. As far as I know there is no news about neither buyback nor token burning from the team and they are probably not planning on something like that at all. It is just us that are making discussion about something that was never said or even mentioned.

However, the philosophical "what would happen if" questions are one of the most liked ones in the human history so of course we were hooked on the second someone said "what if" and then somehow it became so big that people started to see these messages and without knowing they assumed the team mentioned something like that. There is no buyback happening and there is no token burning, it is just a discussion of what would happen and that is it.

[tranthidung]

It's official - our Binance_DEX listing proposal has been submitted!

Is it a free listing? I knew that Binance DEX ask for very high listing fees.

[stomachgrowls]

It's official - our Binance_DEX listing proposal has been submitted!

Is it a free listing? I knew that Binance DEX ask for very high listing fees.

No,theres no such thing on free listing into this Binance dex. According to https://www.cryptoglobe.com/latest/2019/04/token-listing-guidelines-for-binance-dex/

""Once the proposal request is sent, Token Issuers will need to deposit at least 1,000 BNB within 2 days."

So you would need to buy out 1k BNB and the current price as of writing is 28.91 so you do need $28k for that.

[guoyu78]

-snip-

I am not entirely sure how it works to be honest, I imagined buyback would mean us selling our tokens back to the team, that is what I assumed, no idea how buybacks work in technical sense and never been a part of it so I could totally be wrong. If you know how buybacks work please explain so I would learn it as well, that would help me understand the situation better.

Aside from that team doesn't work for us for sure, they are working for themselves and "I" am not working for you but the team is literally failing at marketing big time, they literally don't have a signature campaign as far as I know and that is like the most basic simple thing you can do for a casino in bitcointalk.

You do have "ownership" in the sense that someone that has a stock in a company has "ownership" in that casino, you can't run it yourself of course but at least when there is a collective voting than your vote will count. Don't know if eosbet will ever do that though.

[game-protect]

EOSBet assures a lifetime profit share for BET fantasy token holders, can someone explain why BET fantasy token holders want to get rid of it?