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Author Topic: BitDice Robbed Investors? CSNO lost 80% value  (Read 1718 times)
BoXXoB
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February 17, 2020, 11:42:02 AM
 #41

I have not looked at the white paper of the ICO or anything to do with the ICO, so I'd like to play the part of a person who did no research to this point but has questions.

10 million dollars was collected correct?

Was the money collected in fiat, btc, or eth, or other alts?

What was the value of said currencies at the time of collecting for the ICO?

If cryptocurrencies were accepted to buy tokens, did Alex keep the money in cryptos? Fiat conversion?

If he kept it in cryptocurrencies when the price of crypto rose, why didnt the value of the tokens held by investors?

What about forked coins? Was any claimed? Did that value go to investors?

Some of these questions obviously are irrelevant if ICO funds were converted to fiat.

Would like to see the answers to these questions though.



Money was collected in BTC, ETH and some other alts. I think the total amount was somewhere between 8.5 and 10 million.

A part of the cryptocurrencies was sold for fiat and rest was was kept in cryptos. I believe something like 4 million was converted into fiat according to the quarterly reports.

I haven't heard of any forked coins being claimed.

The issue is that the token price is not tied to the amount invested other than the fact that it determined the initial price per token at the time of the sale. It was never supposed to be, it's a dividend token which means token holders are and will be entitled to a part of the site profit, that's it. Of course the fact that BitDice is still working on those promises and which is also holding back things like marketing, the returns for investors so far haven't been so good but investors are still entitled to the same exact things they were entitled to after the ICO.

I would personally just hope for patience while the new site is being finished. I know it's late but BitDice hasn't lost it's future potential despite the new website and promises being fulfilled late.

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February 17, 2020, 12:14:15 PM
 #42

The issue is that the token price is not tied to the amount invested other than the fact that it determined the initial price per token at the time of the sale.
What a nonsense!

The initial token price is determined by the total invested amount.

For example: USD 10 million collected and 10 million CSNO tokens issued = token price USD 1.

After the collected USD 10 million are invested, the token price is basically determined by USD 10 million - losses + profits : 10 million tokens

Examples

1) If the USD 10 million investment lead to a USD 2 million net profit, then the token price is USD 12 million : 10 million tokens = USD 1,20 per token.

2) If the USD 10 million investment lead to a USD 3 million net loss, then the token price is USD 7 million : 10 million tokens = USD 0,70 per token.

  
It was never supposed to be, it's a dividend token which means token holders are and will be entitled to a part of the site profit, that's it.
Whoaat?

Did you just say that investors initially lost its investment and the CSNO fantasy tokens are only entitled to receive dividends or losses and do not represent any share of the Bitdice.me operation?
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February 17, 2020, 12:29:19 PM
 #43

The issue is that the token price is not tied to the amount invested other than the fact that it determined the initial price per token at the time of the sale.
What a nonsense!

The initial token price is determined by the total invested amount.

For example: USD 10 million collected and 10 million CSNO tokens issued = token price USD 1.

After the collected USD 10 million are invested, the token price is basically determined by USD 10 million - losses + profits : 10 million tokens

Examples

1) If the USD 10 million investment lead to a USD 2 million net profit, then the token price is USD 12 million : 10 million tokens = USD 1,20 per token.

2) If the USD 10 million investment lead to a USD 3 million net loss, then the token price is USD 7 million : 10 million tokens = USD 0,70 per token.

  
It was never supposed to be, it's a dividend token which means token holders are and will be entitled to a part of the site profit, that's it.
Whoaat?

Did you just say that investors initially lost its investment and the CSNO fantasy tokens are only entitled to receive dividends or losses and do not represent any share of the Bitdice.me operation?

You're the one spilling nonsense here. It's a dividend token. Token holders are paid dividends from profits to the ethereum addresses they hold their CSNO in. You don't realize your profits by selling the tokens. That's not how a dividend token works.

CSNO token is NOT a share.

EDIT: May I add, markets determine the price of the CSNO tokens on the exchanges it's being traded on. Thus if BitDice performs well, obviously the token price can reflect that but you can't calculate the token price by how much bitdice has profited or lost. Not sure where that idea even came from...

EDIT2:

It says in the whitepaper: "BitDice Casino is issuing  100 000 000 (one hundred million)  CSNO tokens,  70%  of which will be offered to the public and entitle for  70% of BitDice Casino’s net profit."

That 70% of BitDice's net profit is shared each quarter based on that specific quarter's performance.

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February 17, 2020, 01:16:59 PM
Last edit: February 17, 2020, 05:19:39 PM by joksim299
 #44

I have not looked at the white paper of the ICO or anything to do with the ICO, so I'd like to play the part of a person who did no research to this point but has questions.

10 million dollars was collected correct?

Was the money collected in fiat, btc, or eth, or other alts?

What was the value of said currencies at the time of collecting for the ICO?

If cryptocurrencies were accepted to buy tokens, did Alex keep the money in cryptos? Fiat conversion?

If he kept it in cryptocurrencies when the price of crypto rose, why didnt the value of the tokens held by investors?

What about forked coins? Was any claimed? Did that value go to investors?

Some of these questions obviously are irrelevant if ICO funds were converted to fiat.

Would like to see the answers to these questions though.



Money was collected in the following currencies and converted in USD equivalent at the time of purchase:
ICO collected:
BTC: 3231.8
ETH: 222.56
IOTA: 0.44717
LTC: 45.1
DOGE: 0.0009

9 885 962.231755212 = Total amount of USD raised with bonuses
Raised crypto is now worth = 31,240,000

How CSNO price was determined = Proceeds from ICO (in USD) / 100,000,000 tokens

40% of investment should be kept as Bankroll in crypto currencies (should be worth $12500000 now) and at least 2,500,000$ is dedicated to development and legal costs


Quote from: whitepaper
9 885 962.231755212 = Total amount of USD raised with bonuses
All the proceeds from this public contribution will be used for business
expansion only.

Roadmap in the whitepaper is same as on image in first post and they failed to deliver most of their promises.

Update: Signature Campaign and Official Thread are locked. (https://bitcointalk.org/index.php?topic=1697546.0  - https://bitcointalk.org/index.php?topic=1700658.0)

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February 17, 2020, 06:51:20 PM
Last edit: February 17, 2020, 07:28:31 PM by BoXXoB
 #45

I've not received any reason behind those threads being locked. It was not done by us.

EDIT: I just got info that a response from the higher ups is going to be prepared to this thread

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February 17, 2020, 07:57:38 PM
 #46

What I do not understand, if the invested USD 10 million are still there why did the CSNO tokens lose USD 8 million?

Man. What are you doing on this forum? Dont you read it to educate how prices gets set?  Price of not just tokens and coins, but also apples and plums and potato and oil is set on a market.  Buyers and sellers set it. Demand and supply. To get price someone have to sell it and someone has to buy it.  It have nothing to do how much something is worth.  If you have  a lot of money you can move price up or down as it pleases you.


If suddenly CSNO price increases for 1000 times, that dont mean BitDice will have 1000 times more founds collected 2 years ago. They will still have same.

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February 17, 2020, 09:11:39 PM
 #47

I am posting this answer on behalf of the management:



This answer to several ignorant allegations is going to be solitary and final. Please be acknowledged that further communications will be held solely in the form of quarterly reports.

To begin with, as it has been clearly stated before, CSNO is a dividend token. That means the token holder is entitled to receive a share of Casino's profit. That's it, period.

Nevertheless, to dispel the unfounded accusations, please see below.

The initial price has been $8.4m/100m tokens = $0.084 per token.

With the buyback program running on the website, one can instantly sell CSNO approximately at 50% of the ICO price.

Sure enough, it is a remarkable upshot taking into consideration more than two years passed since tokens were issued.

Should one decide to dig deeper into BitDice financial matters, they are very welcomed to scrutinize the Quarterly reports, which are published on Medium.

As for the BitDice development pace,  the team admits that the buildout period has been significantly more than it has been initially planned and announced.

Due to business nature, it was hard to predict all the obstacles that had arisen. It's almost impossible to open a bank account for crypto-related companies in the EU, not to mention gambling as business activity. As an example, attempts to fix an agreement with Wirecard related to fiat payments processing took almost a year and finally ended in vain due to circumstances that were out of the team's control.

Moreover, at one point it has been decided to cease certain activities until the launch of the new website, which is currently under the final stage of development.



.BitDice.               ▄▄███▄▄
           ▄▄██▀▀ ▄ ▀▀██▄▄
      ▄▄█ ▀▀  ▄▄█████▄▄  ▀▀ █▄▄
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[/]
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February 17, 2020, 09:51:18 PM
Last edit: February 17, 2020, 10:49:10 PM by joksim299
 #48

I am posting this answer on behalf of the management:



This answer to several ignorant allegations is going to be solitary and final. Please be acknowledged that further communications will be held solely in the form of quarterly reports.

To begin with, as it has been clearly stated before, CSNO is a dividend token. That means the token holder is entitled to receive a share of Casino's profit. That's it, period.

Nevertheless, to dispel the unfounded accusations, please see below.

The initial price has been $8.4m/100m tokens = $0.084 per token.

With the buyback program running on the website, one can instantly sell CSNO approximately at 50% of the ICO price.

Sure enough, it is a remarkable upshot taking into consideration more than two years passed since tokens were issued.

Should one decide to dig deeper into BitDice financial matters, they are very welcomed to scrutinize the Quarterly reports, which are published on Medium.

As for the BitDice development pace,  the team admits that the buildout period has been significantly more than it has been initially planned and announced.

Due to business nature, it was hard to predict all the obstacles that had arisen. It's almost impossible to open a bank account for crypto-related companies in the EU, not to mention gambling as business activity. As an example, attempts to fix an agreement with Wirecard related to fiat payments processing took almost a year and finally ended in vain due to circumstances that were out of the team's control.

Moreover, at one point it has been decided to cease certain activities until the launch of the new website, which is currently under the final stage of development.



Thanks for confirming that all I wrote is true
Basically you spent ~$500k investors money to not open bank account, that's all what you done after ICO.
In my opinion you can develop/upgrade site without bank account Smiley

Support flag on Bitdice | Boxxob

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February 18, 2020, 12:20:46 AM
 #49

So 40% was supposed to stay on the site for the bankroll at a minimum right? That would mean 1292 btc or so should still be held by the team as far as the bankroll goes, minus losses or plus wins by the casino.

That doesn't include the eth or other alts collected in the ICO. Just the bitcoin alone would value 12.5 million dollars. If the ICO at the time collected 10 million dollars, wouldn't investors still be in profit just on the 40% alone? Seem's impossible for investors to be losing money with the current numbers.

That's just the 40% guaranteed to stay in the bankroll. The other 60% that was partially converted to fiat and whatever else should likely have a decent portion of funds left as well. Kinda hard to believe 60% is just gone isn't it?

@Boxxob I hope you're being paid well for representing them, cause if this goes south, you will probably go south with them.

I don't know the whole story obviously, but this is where my brain is currently. Seems like what I posted above should be the minimum of whats left of the bankroll. I find it very salty that Alex locked the threads and has declined to comment here. Instead sends Boxxob to issue a blanket statement for him. You'd think protecting his businesses name would be #1 on the list.

If someone with a better understanding of this ICO could comment here that would be great.

███████████████████████████
███████ ▀█████████▀ ███████
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.............The Most Innovative................
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February 18, 2020, 12:57:31 AM
 #50

I never thought Alex is the kind of guy that gets people to develop for him. And if it is like I think being a lonely dev must be hard and slow work, I would hate having to let others see code of the site.
If Alex is a lonely and slow working dev, then he knew that he is not able to fulfill the roadmap connected to the investments and intentionally misleaded and deceived the investors and is liable for the damage caused!
In 6 years of crypto I haven't seen a single dev working fast with exception of perhaps dooglus which like's and should as anyone else take his time while doing stuff.

It's no stupid coin clone undergoing but a casino that didn't get hacked like most shits that went around when BD did.

---------------------

Regarding to yahoo and his bankroll worries, you may count new coins added or not, the jackpot is big and the max win is quite acceptable, the bankroll seems well feed for me.


I'm 100% certain this is FUD sponsored by other sites.

and you yahoo disappointed me quite a bit after these years supporting such claims, thing you didn't but obviously sides been taken. He just said 40% was converted to fiat and you got 60% in your math.

🔥 🔥 🔥  Satochip - Secure the future  🔥 🔥 🔥
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February 18, 2020, 01:07:37 AM
 #51

I never thought Alex is the kind of guy that gets people to develop for him. And if it is like I think being a lonely dev must be hard and slow work, I would hate having to let others see code of the site.
If Alex is a lonely and slow working dev, then he knew that he is not able to fulfill the roadmap connected to the investments and intentionally misleaded and deceived the investors and is liable for the damage caused!
In 6 years of crypto I haven't seen a single dev working fast with exception of perhaps dooglus which like's and should as anyone else take his time while doing stuff.

It's no stupid coin clone undergoing but a casino that didn't get hacked like most shits that went around when BD did.

---------------------

Regarding to yahoo and his bankroll worries, you may count new coins added or not, the jackpot is big and the max win is quite acceptable, the bankroll seems well feed for me.


I'm 100% certain this is FUD sponsored by other sites.

and you yahoo disappointed me quite a bit after these years supporting such claims, thing you didn't but obviously sides been taken. He just said 40% was converted to fiat and you got 60% in your math.
I am not supporting anything so far. I am asking questions.

███████████████████████████
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.............The Most Innovative................
..............& Reliable Dice Game............
.
.PLAY NOW.
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February 18, 2020, 01:18:50 AM
 #52

So 40% was supposed to stay on the site for the bankroll at a minimum right? That would mean 1292 btc or so should still be held by the team as far as the bankroll goes, minus losses or plus wins by the casino.

That doesn't include the eth or other alts collected in the ICO. Just the bitcoin alone would value 12.5 million dollars. If the ICO at the time collected 10 million dollars, wouldn't investors still be in profit just on the 40% alone? Seem's impossible for investors to be losing money with the current numbers.

That's just the 40% guaranteed to stay in the bankroll. The other 60% that was partially converted to fiat and whatever else should likely have a decent portion of funds left as well. Kinda hard to believe 60% is just gone isn't it?

@Boxxob I hope you're being paid well for representing them, cause if this goes south, you will probably go south with them.

I don't know the whole story obviously, but this is where my brain is currently. Seems like what I posted above should be the minimum of whats left of the bankroll. I find it very salty that Alex locked the threads and has declined to comment here. Instead sends Boxxob to issue a blanket statement for him. You'd think protecting his businesses name would be #1 on the list.

If someone with a better understanding of this ICO could comment here that would be great.

BitDice is doing well (for the team), now bankroll alone should be worth over total amount collected in ICO, we can't check since it is not public anymore.
Only investors are at huge loss of 70% (bit dice claims they but tokens at 50% of ICO price) and market cap of CSNO is just above 2,800,000$ according to Etherscan (https://etherscan.io/token/0x29D75277aC7F0335b2165D0895E8725cbF658d73?a=0xc4bf32fed731ffde7d71874ea39c208833fdac3e) and how are things developing investors will pay server rent and legal expenses (over ~$500,000 spent investors money to not open bank account is crazy) until depleted.
Telegram made for ICO is closed, they deleted long time ago anything related to ICO from their site https://ico.bitdice.me and Whitepaper can only be found on third party sites.

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February 18, 2020, 01:29:42 AM
 #53

So 40% was supposed to stay on the site for the bankroll at a minimum right? That would mean 1292 btc or so should still be held by the team as far as the bankroll goes, minus losses or plus wins by the casino.

That doesn't include the eth or other alts collected in the ICO. Just the bitcoin alone would value 12.5 million dollars. If the ICO at the time collected 10 million dollars, wouldn't investors still be in profit just on the 40% alone? Seem's impossible for investors to be losing money with the current numbers.

That's just the 40% guaranteed to stay in the bankroll. The other 60% that was partially converted to fiat and whatever else should likely have a decent portion of funds left as well. Kinda hard to believe 60% is just gone isn't it?

@Boxxob I hope you're being paid well for representing them, cause if this goes south, you will probably go south with them.

I don't know the whole story obviously, but this is where my brain is currently. Seems like what I posted above should be the minimum of whats left of the bankroll. I find it very salty that Alex locked the threads and has declined to comment here. Instead sends Boxxob to issue a blanket statement for him. You'd think protecting his businesses name would be #1 on the list.

If someone with a better understanding of this ICO could comment here that would be great.

BitDice is doing well (for the team), now bankroll alone should be worth over total amount collected in ICO, we can't check since it is not public anymore.
Only investors are at huge loss of 70% (bit dice claims they but tokens at 50% of ICO price) and market cap of CSNO is just above 2,800,000$ according to Etherscan (https://etherscan.io/token/0x29D75277aC7F0335b2165D0895E8725cbF658d73?a=0xc4bf32fed731ffde7d71874ea39c208833fdac3e) and how are things developing investors will pay server rent and legal expenses (over ~$500,000 spent investors money to not open bank account is crazy) until depleted.
Telegram made for ICO is closed, they deleted long time ago anything related to ICO from their site https://ico.bitdice.me and Whitepaper can only be found on third party sites.
If you being such a picky bitch you should also count profits investors had this time. The price of the token is kinda irrelevant for me since they still have their share of the profits, independently of the price of the token.
I'm not sure I like how it sounds BUT when you bought the token you bought a dividend in the profits not a token you expecting to go 10x in price.

Sorry for calling you a picky bitch but I'm quite tired already and I'm no native english hence I know no other way to express my thought on you.

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February 18, 2020, 01:37:08 AM
 #54

So 40% was supposed to stay on the site for the bankroll at a minimum right? That would mean 1292 btc or so should still be held by the team as far as the bankroll goes, minus losses or plus wins by the casino.

That doesn't include the eth or other alts collected in the ICO. Just the bitcoin alone would value 12.5 million dollars. If the ICO at the time collected 10 million dollars, wouldn't investors still be in profit just on the 40% alone? Seem's impossible for investors to be losing money with the current numbers.

That's just the 40% guaranteed to stay in the bankroll. The other 60% that was partially converted to fiat and whatever else should likely have a decent portion of funds left as well. Kinda hard to believe 60% is just gone isn't it?

@Boxxob I hope you're being paid well for representing them, cause if this goes south, you will probably go south with them.

I don't know the whole story obviously, but this is where my brain is currently. Seems like what I posted above should be the minimum of whats left of the bankroll. I find it very salty that Alex locked the threads and has declined to comment here. Instead sends Boxxob to issue a blanket statement for him. You'd think protecting his businesses name would be #1 on the list.

If someone with a better understanding of this ICO could comment here that would be great.

BitDice is doing well (for the team), now bankroll alone should be worth over total amount collected in ICO, we can't check since it is not public anymore.
Only investors are at huge loss of 70% (bit dice claims they but tokens at 50% of ICO price) and market cap of CSNO is just above 2,800,000$ according to Etherscan (https://etherscan.io/token/0x29D75277aC7F0335b2165D0895E8725cbF658d73?a=0xc4bf32fed731ffde7d71874ea39c208833fdac3e) and how are things developing investors will pay server rent and legal expenses (over ~$500,000 spent investors money to not open bank account is crazy) until depleted.
Telegram made for ICO is closed, they deleted long time ago anything related to ICO from their site https://ico.bitdice.me and Whitepaper can only be found on third party sites.
If you being such a picky bitch you should also count profits investors had this time. The price of the token is kinda irrelevant for me since they still have their share of the profits, independently of the price of the token.
I'm not sure I like how it sounds BUT when you bought the token you bought a dividend in the profits not a token you expecting to go 10x in price.

Sorry for calling you a picky bitch but I'm quite tired already and I'm no native english hence I know no other way to express my thought on you.


With effort they put in the project in past years its clear now that its going nowhere  every recent quarter dividends are equal to 0.
Read quarter reports and read Bitdice statement and you will notice they are spending hundreds thousands to implement fiat payments and they didn't even open bank account in three years and paying 1000$ server per month with investors money while they can run it from tetris for those 10 people online.

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February 18, 2020, 01:46:17 AM
 #55

So 40% was supposed to stay on the site for the bankroll at a minimum right? That would mean 1292 btc or so should still be held by the team as far as the bankroll goes, minus losses or plus wins by the casino.

That doesn't include the eth or other alts collected in the ICO. Just the bitcoin alone would value 12.5 million dollars. If the ICO at the time collected 10 million dollars, wouldn't investors still be in profit just on the 40% alone? Seem's impossible for investors to be losing money with the current numbers.

That's just the 40% guaranteed to stay in the bankroll. The other 60% that was partially converted to fiat and whatever else should likely have a decent portion of funds left as well. Kinda hard to believe 60% is just gone isn't it?

@Boxxob I hope you're being paid well for representing them, cause if this goes south, you will probably go south with them.

I don't know the whole story obviously, but this is where my brain is currently. Seems like what I posted above should be the minimum of whats left of the bankroll. I find it very salty that Alex locked the threads and has declined to comment here. Instead sends Boxxob to issue a blanket statement for him. You'd think protecting his businesses name would be #1 on the list.

If someone with a better understanding of this ICO could comment here that would be great.

BitDice is doing well (for the team), now bankroll alone should be worth over total amount collected in ICO, we can't check since it is not public anymore.
Only investors are at huge loss of 70% (bit dice claims they but tokens at 50% of ICO price) and market cap of CSNO is just above 2,800,000$ according to Etherscan (https://etherscan.io/token/0x29D75277aC7F0335b2165D0895E8725cbF658d73?a=0xc4bf32fed731ffde7d71874ea39c208833fdac3e) and how are things developing investors will pay server rent and legal expenses (over ~$500,000 spent investors money to not open bank account is crazy) until depleted.
Telegram made for ICO is closed, they deleted long time ago anything related to ICO from their site https://ico.bitdice.me and Whitepaper can only be found on third party sites.
If you being such a picky bitch you should also count profits investors had this time. The price of the token is kinda irrelevant for me since they still have their share of the profits, independently of the price of the token.
I'm not sure I like how it sounds BUT when you bought the token you bought a dividend in the profits not a token you expecting to go 10x in price.

Sorry for calling you a picky bitch but I'm quite tired already and I'm no native english hence I know no other way to express my thought on you.


With effort they put in the project in past years its clear now that its going nowhere  every recent quarter dividends are equal to 0.
Read quarter reports and read Bitdice statement and you will notice they are spending hundreds thousands to implement fiat payments and they didn't even open bank account in three years and paying 1000$ server per month with investors money while they can run it from tetris for those 10 people online.
Ugh i detest fiat, but it might be good for the casino.
I'm quite tired of your proofless claims, I would bet my left or right nut that the dividend is higher than 0.

I'll let you FUD in peace, good luck.

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February 18, 2020, 01:51:13 AM
 #56

So 40% was supposed to stay on the site for the bankroll at a minimum right? That would mean 1292 btc or so should still be held by the team as far as the bankroll goes, minus losses or plus wins by the casino.

That doesn't include the eth or other alts collected in the ICO. Just the bitcoin alone would value 12.5 million dollars. If the ICO at the time collected 10 million dollars, wouldn't investors still be in profit just on the 40% alone? Seem's impossible for investors to be losing money with the current numbers.

That's just the 40% guaranteed to stay in the bankroll. The other 60% that was partially converted to fiat and whatever else should likely have a decent portion of funds left as well. Kinda hard to believe 60% is just gone isn't it?

@Boxxob I hope you're being paid well for representing them, cause if this goes south, you will probably go south with them.

I don't know the whole story obviously, but this is where my brain is currently. Seems like what I posted above should be the minimum of whats left of the bankroll. I find it very salty that Alex locked the threads and has declined to comment here. Instead sends Boxxob to issue a blanket statement for him. You'd think protecting his businesses name would be #1 on the list.

If someone with a better understanding of this ICO could comment here that would be great.

BitDice is doing well (for the team), now bankroll alone should be worth over total amount collected in ICO, we can't check since it is not public anymore.
Only investors are at huge loss of 70% (bit dice claims they but tokens at 50% of ICO price) and market cap of CSNO is just above 2,800,000$ according to Etherscan (https://etherscan.io/token/0x29D75277aC7F0335b2165D0895E8725cbF658d73?a=0xc4bf32fed731ffde7d71874ea39c208833fdac3e) and how are things developing investors will pay server rent and legal expenses (over ~$500,000 spent investors money to not open bank account is crazy) until depleted.
Telegram made for ICO is closed, they deleted long time ago anything related to ICO from their site https://ico.bitdice.me and Whitepaper can only be found on third party sites.
If you being such a picky bitch you should also count profits investors had this time. The price of the token is kinda irrelevant for me since they still have their share of the profits, independently of the price of the token.
I'm not sure I like how it sounds BUT when you bought the token you bought a dividend in the profits not a token you expecting to go 10x in price.

Sorry for calling you a picky bitch but I'm quite tired already and I'm no native english hence I know no other way to express my thought on you.


With effort they put in the project in past years its clear now that its going nowhere  every recent quarter dividends are equal to 0.
Read quarter reports and read Bitdice statement and you will notice they are spending hundreds thousands to implement fiat payments and they didn't even open bank account in three years and paying 1000$ server per month with investors money while they can run it from tetris for those 10 people online.
Ugh i detest fiat, but it might be good for the casino.
I'm quite tired of your proofless claims, I would bet my left or right nut that the dividend is higher than 0.

I'll let you FUD in peace, good luck.

I do not get what are you talking about, integration of  fiat payments was one of the biggest incentives to get involved in the ICO.
It's not hard to get informed, you aren't investor or player. Read whitepaper and visit LazyTokenInvestor CSNO page they are all what you need to understand current situation.
I bet this is another BetKing   Sad

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February 18, 2020, 04:26:59 AM
Last edit: February 18, 2020, 04:48:18 AM by BoXXoB
Merited by Juggy777 (1)
 #57

So 40% was supposed to stay on the site for the bankroll at a minimum right? That would mean 1292 btc or so should still be held by the team as far as the bankroll goes, minus losses or plus wins by the casino.

That doesn't include the eth or other alts collected in the ICO. Just the bitcoin alone would value 12.5 million dollars. If the ICO at the time collected 10 million dollars, wouldn't investors still be in profit just on the 40% alone? Seem's impossible for investors to be losing money with the current numbers.

That's just the 40% guaranteed to stay in the bankroll. The other 60% that was partially converted to fiat and whatever else should likely have a decent portion of funds left as well. Kinda hard to believe 60% is just gone isn't it?

@Boxxob I hope you're being paid well for representing them, cause if this goes south, you will probably go south with them.

I don't know the whole story obviously, but this is where my brain is currently. Seems like what I posted above should be the minimum of whats left of the bankroll. I find it very salty that Alex locked the threads and has declined to comment here. Instead sends Boxxob to issue a blanket statement for him. You'd think protecting his businesses name would be #1 on the list.

If someone with a better understanding of this ICO could comment here that would be great.

I would expect you of all people to be more careful. You took that 1292 BTC amount from Joksim's earlier reply where it represented the USD price of bitcoin at the time of the ICO I believe...

This was the balance sheet as shown on Q2 2019 quarterly report: https://medium.com/@BitDice/bitdice-casino-quarterly-report-q2-2019-part-1-ecc9567b43f6?source=---------5------------------



I believe it's a decent representation of the current balance sheet. I believe what was not sold for fiat after the ICO has been held firmly in crypto and thus not realized any profits or losses from crypto sales.

Now, you also said Alex closed the threads... he did not. As you would know if you had read my previous reply. That matter is completely unrelated to this entire fiasco.

We had an old rule in our signature campaign thread about posting on bitdice ann but that isn't enforced anymore. I believe someone reported the signature campaign post and now due to that, the threads are locked.

EDIT: So in effect, nothing is lost as everyone keeps thinking. Investors have not magically lost everything considering the buyback and also work being put into releasing the new website and all other plans. Thus, the investors are still eligible for the dividends just as before. Although Joksim claims the value of dividends is zero, you can't just go ahead claiming the casino has completely screwed the investors over just because the casino hasn't delivered the promises yet (but is working on them). Also accounting for the fact that anyone can also sell the tokens as was said in the reply I posted before.

EDIT2:

TL;DR

1292 BTC is a wrong figure taken out of the wrong number
(Yahoo mentioned the 1292 BTC figure)

BitDice or Alex did NOT close the BitDice OP thread

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February 18, 2020, 10:55:32 AM
 #58

I believe Joksim's claim relies on 3 key points he has been trying to make.

1) CSNO Token has lost value

Okay, the token has lost value, true but he is taking his numbers from sources that aren't reliable. BitDice does not reach high trading volumes and thus any estimation given by Etherscan is likely to be wrong. Secondly as it was stated, BitDice buys tokens back from those who wish to sell them at a relatively good price atleast comparing to the estimations Joksim has been making.

2) The money that was invested has been "wasted" or some of it has disappeared

As my last reply states, much of the assumptions that have been made by people have not been thought through and are simply speculation and the money is still there.

3) BitDice has not been delivering its promises

This is probably the most notable one as it's clear BitDice hasn't yet been able to deliver many of the initial promises that have been made. We have addressed that fact and have also stated that the new website is in the final stage of development. In other words, promises have been delayed a lot which is not something we're hiding. But we're working on delivering on those promises.

Joksim is trying to make a case about how the money that has already been spent has gone into vain which he keeps repeating. One doesn't have to look farther than the quarterly reports to see what the money has been spent on. The expenses haven't been directed at something specific only but on the entire project. I don't understand half of the gimmicks it takes to run a casino let alone something that aims to serve fiat users. I am fairly sure Joksim doesn't understand exactly how complex everything is to set up either.

So to simplify: the money that has been spent has not gone into nothing. It's an ongoing progress and despite seemingly static, it is definitely not.

We've been trying to explain that the promises that have yet to be delivered are going to be delivered despite the long delays.

Now my conclusion about this scam accusation is that its aim is to make BitDice lose its reputation. Question is: what's the gain from this?

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February 18, 2020, 01:59:07 PM
 #59

I believe Joksim's claim relies on 3 key points he has been trying to make.

1) CSNO Token has lost value

Okay, the token has lost value, true but he is taking his numbers from sources that aren't reliable. BitDice does not reach high trading volumes and thus any estimation given by Etherscan is likely to be wrong. Secondly as it was stated, BitDice buys tokens back from those who wish to sell them at a relatively good price atleast comparing to the estimations Joksim has been making.

2) The money that was invested has been "wasted" or some of it has disappeared

As my last reply states, much of the assumptions that have been made by people have not been thought through and are simply speculation and the money is still there.

3) BitDice has not been delivering its promises

This is probably the most notable one as it's clear BitDice hasn't yet been able to deliver many of the initial promises that have been made. We have addressed that fact and have also stated that the new website is in the final stage of development. In other words, promises have been delayed a lot which is not something we're hiding. But we're working on delivering on those promises.

Joksim is trying to make a case about how the money that has already been spent has gone into vain which he keeps repeating. One doesn't have to look farther than the quarterly reports to see what the money has been spent on. The expenses haven't been directed at something specific only but on the entire project. I don't understand half of the gimmicks it takes to run a casino let alone something that aims to serve fiat users. I am fairly sure Joksim doesn't understand exactly how complex everything is to set up either.

So to simplify: the money that has been spent has not gone into nothing. It's an ongoing progress and despite seemingly static, it is definitely not.

We've been trying to explain that the promises that have yet to be delivered are going to be delivered despite the long delays.

Now my conclusion about this scam accusation is that its aim is to make BitDice lose its reputation. Question is: what's the gain from this?

@BoXXoB it's really sad that you have to reply to these same questions again and again, and I’m also surprised to see popular and known members falling for his words but then again each one is entitled to his/her opinion. On the face of it yes it’s clear that he has an agenda to harm Bitdice goodwill, but then again when I read his old posts it kind of makes me wonder does he even mean what he says.

I have decided to quote two of his old posts : in the first one he comes in Bitdice Ann, and praises other sites and then later on he says that he loves Bitdice and wants them to be number one hence my question is how does he plan to help Bitdice become number one by starting this kind of thread?

Quote

Look at some of their competitors Stake and Bitsler they are both unique and more interesting and keep customers engaged in their activities.


Quote

I'm trying to be constructive and to motivate team to.bring new site live faster.
I'm not against Bitdice I just expected them to become No. 1 dice site I love them and playing since launch


It takes years to build a reputation and only minutes to destroy it by reading and quoting half baked truths, hence I hope the community will bear with Bitdice as new updates come and to show that Bitdice really cares about it’s members and it’s goodwill check this post and judge Alex and his intentions.

Quote

today I was trying to bet 0.0498 BTC on sports and got that partner api error , so I contacted support and told them about it and they credited my balance back
then I made a withdrawal request for that 0.0498 and got it instantly as usual , but after few hours I opened the site and found that the money was added back to my balance again after that failed bet

after reporting it Alex was kind enough to let me have that 500$ in my balance even it's not mine and I don't deserve it

thank you very much Alex and all Bitdice family , you really made my day  Smiley



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February 18, 2020, 07:46:27 PM
 #60

Now, you also said Alex closed the threads... he did not. As you would know if you had read my previous reply. That matter is completely unrelated to this entire fiasco.
We had an old rule in our signature campaign thread about posting on bitdice ann but that isn't enforced anymore. I believe someone reported the signature campaign post and now due to that, the threads are locked.

I am pretty sure this accusation and reporting user dogedice.me are related. The post that got him temp ban is there for three years and a half. It would be a huge coincidence to be reported exactly when this acusaation happened. It is One out of 1200 chance. Specially when you read what was written in last few months in Bitdice ANN thread and the trust summary references of one of the posters there.  


Now my conclusion about this scam accusation is that its aim is to make BitDice lose its reputation. Question is: what's the gain from this?

It will definitely not help grow value of CSNO tokens of which OP is so concern about.


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FreeBitco.in Adopts FUN Token for
Premium Membership Program
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41M Users to Buy and Hold
FUN for Premium Benefits
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.Learn More.
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