LoyceV (OP)
Legendary
Offline
Activity: 3416
Merit: 17268
Thick-Skinned Gang Leader and Golden Feather 2021
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March 20, 2019, 05:40:26 PM Last edit: August 06, 2021, 06:09:15 PM by LoyceV Merited by RHavar (15), dbshck (10), suchmoon (9), The Cryptovator (5), malevolent (4), mikeywith (2), Joel_Jantsen (2), BayAreaCoins (1), JollyGood (1), marlboroza (1), xtraelv (1), ICOEthics (1) |
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I've postponed creating this thread for quite a few months now, because the evidence is scattered over several long topics. There's literally too much posted to go through in a timely manner. Therefore, I welcome adding more information, but please provide quotes with links to support all claims. Accounts involvedBetKing.io ( Trust: !!!: +2 / =2 / -8) ( 10 Merit earned) ( Trust list) ( BPIP) BetKing Support ( Trust: !!!: +0 / =0 / -7) (1 Merit earned) ( Trust list) ( BPIP) PocketRocketsCasino ( Trust: !!!: +2 / =1 / -7) (0 Merit earned) ( Trust list) ( BPIP) dean nolan ( Trust: !!!: +0 / =0 / -6) (0 Merit earned) ( Trust list) ( BPIP) Update: Dean created another account: Betking ManagerFlags against these accounts41 Active. ( Support | Oppose) LoyceV flagged BetKing.io (type 3, see why). Supported by malevolent, Hueristic, suchmoon, owlcatz, LFC_Bitcoin, RHavar, SyGambler, LoyceV, examplens, dbshck, Avirunes, nutildah, actmyname, franckuestein, marlboroza, bones261, Lafu, Lutpin, Hhampuz, Last of the V8s, crwth, bob123, Murat, TwitchySeal, JollyGood, El duderino_, Royse777, teeGUMES, o_e_l_e_o, TheBeardedBaby, coinlocket$, asche, Coolcryptovator, DireWolfM14, morvillz7z, JSRAW, TalkStar, YOSHIE, notblox1, BayAreaCoins, Timelord2067, Quickseller, johhnyUA, FFrankie, TheUltraElite, Text, wwzsocki, Joel_Jantsen, IconFirm, TGD, cissrawk, ChuckBuck, Yudhisthir, pandukelana2712, PrimeNumber7, Lassie, lighpulsar07, nullius, s0lidus, N0sferatu, elmanchez, izooomrud, leventturksoy, ChemicalSpillage, Donatelli, thecatinc, okdevin. Opposed by BillyBurns, NikS13, attilla82, CrankyAnt. 42 Active. ( Support | Oppose) LoyceV flagged BetKing Support (type 3, see why). Supported by malevolent, Hueristic, suchmoon, LFC_Bitcoin, LoyceV, examplens, dbshck, Avirunes, actmyname, franckuestein, marlboroza, bones261, Lafu, Hhampuz, Last of the V8s, bob123, JollyGood, El duderino_, Royse777, teeGUMES, o_e_l_e_o, TheBeardedBaby, coinlocket$, asche, DireWolfM14, morvillz7z, JSRAW, fillippone, TalkStar, Timelord2067, Quickseller, TheUltraElite, IconFirm, cissrawk, PrimeNumber7, nullius, N0sferatu, izooomrud. Opposed by nobody. 43 Active. ( Support | Oppose) LoyceV flagged PocketRocketsCasino (type 3, see why). Supported by malevolent, Hueristic, suchmoon, LFC_Bitcoin, LoyceV, examplens, dbshck, Avirunes, actmyname, franckuestein, bones261, Lafu, Hhampuz, Last of the V8s, bob123, JollyGood, Royse777, subSTRATA, teeGUMES, o_e_l_e_o, TheBeardedBaby, coinlocket$, asche, DireWolfM14, morvillz7z, TalkStar, BayAreaCoins, Timelord2067, Quickseller, TheUltraElite, IconFirm, cissrawk, PrimeNumber7, nullius, N0sferatu, izooomrud. Opposed by nobody. 44 Active. ( Support | Oppose) LoyceV flagged dean nolan (type 3, see why). Supported by malevolent, Hueristic, suchmoon, LFC_Bitcoin, LoyceV, examplens, dbshck, Avirunes, nutildah, actmyname, franckuestein, marlboroza, bones261, Lafu, Lutpin, Hhampuz, Last of the V8s, bob123, JollyGood, El duderino_, Royse777, teeGUMES, o_e_l_e_o, TheBeardedBaby, coinlocket$, asche, DireWolfM14, morvillz7z, TalkStar, Timelord2067, Quickseller, TheUltraElite, IconFirm, cissrawk, PrimeNumber7, nullius, N0sferatu, izooomrud, thecatinc. Opposed by nobody. 2810 Active. ( Support | Oppose) LoyceV flagged Betking Manager (type 3, see why). Supported by LoyceV, Slow death, witcher_sense, Jawhead999, icopress, $crypto$, psycodad. Opposed by nobody. Topics involvedBetKing.io - ICO - $4.7 million raised, last week to take part![ANN][ICO][BKB] BetKing Bankroll Token - Tokens distributed to your account ( archived) BetKing.io - Invest commission lowered to 10%! ( archived) (incomplete list) Scam accusationI'll stick to the main thing: BetKing.io broke it's ICO promise. The BKB-token was supposed to be tied to a dollar value, with quarterly buybacks. Every quarter BetKing will offer to buy back up to 10% of a holders tokens at the current buy back price. ( archived) Dean personally profited by the terms of the ICO when the price of bitcoin went up (by pegging the token to USD, while holding btc). I agreed it was fair, because under the same terms Dean would personally lose if the price of bitcoin went down. When I inquired about how that is possible, and at what price bitcoin would need to drop to make that untenable, he said "even at $1" he could do it, because he has system in place to automatically sell bitcoin and would always honor the buy backs. I'm not sure when exactly the buybacks stopped (and my Withdrawal History was removed). I don't think it was officially announced on Bitcointalk, so my estimate is the last buyback happened around a year ago. I kept BKB tokens as a hedge against Bitcoin price drops, organized by the very trustworthy guy who previously returned 6000 BTC to investors. When Bitcoin was rising, BetKing was gladly buying back tokens each quarter at lower and lower Bitcoin prices. BetKing's defense is stating that they spent 600 BTC buying back tokens, which I can't verify but it's irrelevant for my case anyway. I have nothing to do with other people's buy backs. What I can verify though, is that a large amount of ICO money wasn't returned to token holders: Total funds raised: 1,046.60623397 BTC 4,614.61055431 ETH 833.38469263 LTC Total: $6,497,165.94 ( archived) So when I changed to this model I owned 70% of all BKB ( archived) I have 7278 BKB left, which (at $0.099 per BKB) was supposed to be worth just over $700. The last time BKB was traded for Bitcoin on betking.io's own exchange, it would have been worth around $2 in total. Currently, the only option is to exchange 1 BKB for 20 BKT. BetKing claims hourly buy backs, but that's only with a part of the profit, at the rate on their own exchange. It doesn't do justice to the dollar value it was supposed to have. https://betking.io/exchange doesn't have any buy orders at BTC-BKT. There are buy orders at LTC-BKT, with the last price being 0.000001 LTC per BKT. That means my 7278 BKB are worth 145563 BKT which is worth 0.145 LTC which equals $8.21. That's close to a 99% drop from the fixed pegged in dollar price BetKing guaranteed at it's ICO. I should have been able to sell back 10% quarterly at a rate pegged in dollar, meaning around $70 for the first quarter, $63 the next quarter and so on. There's much moreThere was also controversy over canceling the bounty program (which was understandable), new games that were promised but never created, ICO money that wasn't used as bankroll as promised, a "may or may not have happened" 25 BTC donation to charity, a wagering contest that wasn't paid, software piracy instead of buying a 2 BTC licence, removing all affiliates, and probably much more. I welcome links here to add those to the list. On top of all this, they're now trying another ICO with a 10 times larger market cap. In the recent BetKing EOS Airdrop, they airdropped 3 times more tokens to EOS-holders than they sold in the entire first ICO (which was worth close to $6.5M at the time). BKB went from "being worth the entire company" to "being worth only a fraction of the company". The guaranteed BKB buy backs were supposed to lead to scarcity, and thus an increase in price. Instead, BetKing is now strongly diluting the tokens by issuing new tokens and making a token swap the only option. TagsThe accounts involved have red tags already, but not yet from me. I want opinions first, and if any DT decides to tag them based on this topic, I'll tag them too.
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