Chips.gg |🎰 100k Event | Daily New Slots |

[ChuckBuck]

So chip can increase in estimated value on Chips.gg and how long this value can last?

As long as Chips.gg is up and running, the value of CHIP remains valid and it remains a valuable thing on the platform.

Whether the chip value will be reset every day?

No, I think its value will be reset every time its difficulty increases to a new level

If Chips can be traded on the casino or exchanged between gamblers via Escrow on the casino, it will be very great. It is not popular to see casino token is traded on crypto exchanges. Usually they are traded on casino only.

It is impossible that CHIP is only the internal currency of the Chips.gg platform, different from other cryptocurrencies on the market, tradable on other trading platforms. CHIP is simply the internal currency and has value only within its platform

[dezoel]

When the topic is not getting love anymore, its rarely about not being used or gambled, it is usually there is nothing new to talk about. Go take a look at chips' website and you will see that it is still gambled probably as much as it used to be, I haven't felt any different so far, or even if there is a lower number of gambling it must be so little that I didn't feel it.

However in here there are really nothing new to talk about so people do not message, which shows that maybe there is lack of promotion PR, and I do not say promotion, I mean promotion "PR" which is basically telling the whole world that you are doing a promotion. I have seen people having 10k giveaway and spend another 10k on signature campaigns of that 10k giveaway, instead of having a 20k giveaway, which is totally correct move because if nobody knows then it means nothing.

The idea of a bitcointalk topic is three fold ; one is the place giving us things to look out for, marketing or campaigns or promotions or bonuses etc etc and share every news as well from new features to some improvements maintenance etc, secondly it is for people to complain if there is anything wrong, so let's say you wanted to withdraw but it has been 24 hours and there is no news about it?

You come here and write, it works if you are a legit person because then they take a look and if you are legit then they help you (but if you are doing something against the rules then they let you know as well), and the last one is for gamblers of this place to have a place to chat with each other, it is rare to find friends to gamble together so you end up meeting with people here, or even telegram groups and you gamble while chatting which makes it happier. So it is not always about just not having any new things, there are other reasons to chat here as well.

[arallmuus]

I heard that Chips will be something tradeable and available on exchange, is it true?
If it is true, will it be tradeable once all chips are earned/minted (on level 100)?

There is a plan to make chips into a real token but obviously this is going to be a long term plan with no ETA because the plan for now would be focus on the casino but yeah it would be nice if this happens soon though

However in here there are really nothing new to talk about so people do not message, which shows that maybe there is lack of promotion PR, and I do not say promotion, I mean promotion "PR" which is basically telling the whole world that you are doing a promotion.

There are actually alot of new things happening around but it was mostly discussed on telegram group chat because thats where the chips community are gathering. As for the promotions and stuff, there are few currently ongoing promotion if you check this page https://chips.gg/events but yeah this thread should have been updated about it as well 

[babygun]

There are actually alot of new things happening around but it was mostly discussed on telegram group chat because thats where the chips community are gathering. As for the promotions and stuff, there are few currently ongoing promotion if you check this page https://chips.gg/events but yeah this thread should have been updated about it as well 

Could you give some more information about all the new things going on? I don't like Telegram so hardly use it. My main sources of information on news from casinos is this forum or btcgosu   .

[Chikito]

I have been a long time never come across here. when I came before, only a few but now they have varied coins for deposit. they did hard for development.

As for the promotions and stuff, there are few currently ongoing promotion if you check this page https://chips.gg/events but yeah this thread should have been updated about it as well 

If the user doesn't have time to check the website. They should follow on twitter also to fast get the information about events and promotions.

[RealMalatesta]

It is impossible that CHIP is only the internal currency of the Chips.gg platform, different from other cryptocurrencies on the market, tradable on other trading platforms. CHIP is simply the internal currency and has value only within its platform

That's what the point is, instead of being on a crypto exchange, it should be traded within the system, inside the website, without getting listed somewhere else. I do not know if they will ever do some token type of defi stuff with it, but I hope they never do that. So for me (and I assume for some other people as well) there are two valid options that we would support, either make it non-tradeable or make it traded inside the website without going anywhere else like a swap or something.

This came out from the logic that there are so many casinos with their own tokens being swapped in dex and we just do not see it as a profitable business, look at every single other place that did that and you will see that the price of the token dropped significantly lower and made it something worthless, I do not want to see that happen for chips.

[arallmuus]

Could you give some more information about all the new things going on?

Most of the time, the community is sharing screenshot of those huge multipliers. Sometimes Bex will announce telegram exclusive race as well and it is worth it because the requirement the get the prizes isnt as hard as those usual race though. Also some community member giving away some reward if you register them as your referee

-snip
I do not want to see that happen for chips.

Well take it easy, its just a plan for now and its not the main priority. The plan for now is to focus on establishing the casino and Im pretty sure Magalon will ask for opinion from the community before they make a huge changes to it 


Anyway we currently have two ongoing races. Check it out on the site

[dezoel]

I heard that Chips will be something tradeable and available on exchange, is it true?
If it is true, will it be tradeable once all chips are earned/minted (on level 100)?

There is a plan to make chips into a real token but obviously this is going to be a long term plan with no ETA because the plan for now would be focus on the casino but yeah it would be nice if this happens soon though

I really hope that they do not make it anytime soon, I really dislike the notion that every casino feels like they should own their own token.

I understand it is a very easy way to make money, they could simply sell all the chips they own and make maybe a million dollars, or even if not then just "some" money, and most places get excited about that free money to be made and create their own tokens and then make it available on some swap or some place and sell it so that they could grow big, I remember as early as "earnbet" did it and it sucked and price went to near zero levels, after that everyone tried it and nearly all the other places that did this slowly went lower and lower and lower, so it is really not a great feeling to know that chips may end up doing it as well. I can see it already, it will start good and then slowly it will get worse and worse and worse.

[babygun]

I really hope that they do not make it anytime soon, I really dislike the notion that every casino feels like they should own their own token.

I understand it is a very easy way to make money, they could simply sell all the chips they own and make maybe a million dollars, or even if not then just "some" money, and most places get excited about that free money to be made and create their own tokens and then make it available on some swap or some place and sell it so that they could grow big, I remember as early as "earnbet" did it and it sucked and price went to near zero levels, after that everyone tried it and nearly all the other places that did this slowly went lower and lower and lower, so it is really not a great feeling to know that chips may end up doing it as well. I can see it already, it will start good and then slowly it will get worse and worse and worse.

Personally, I am not really against that. I like sites that have their own token (chips, betfury) and who are related to a dividend system. It gives a motivation to the players to keep playing and wagering, because the more you play, the more tokens you will receive and thus the higher your (daily) dividend.

[SyGambler]

.
I understand it is a very easy way to make money, they could simply sell all the chips they own and make maybe a million dollars, or even if not then just "some" money, and most places get excited about that free money to be made and create their own tokens and then make it available on some swap or some place and sell it so that they could grow big, I remember as early as "earnbet" did it and it sucked and price went to near zero levels, after that everyone tried it and nearly all the other places that did this slowly went lower and lower and lower, so it is really not a great feeling to know that chips may end up doing it as well. I can see it already, it will start good and then slowly it will get worse and worse and worse.

all chips were mined by placing bets , the team doesn't own a fixed percentage of chips like other projects and they don't need the token itself since the site is getting 50% of the profits anyways
so in short if the token was listed the team won't be able to dump the price

but yeah I agree with you about the other sites' tokens , most of them are dying in price
it's kinda complicated since these type of tokens pay you divs , so for example you may buy the token for 1$ , sell it a year later for 0.5$ and still make money if you count the dividends you got during the year

[ChuckBuck]

This came out from the logic that there are so many casinos with their own tokens being swapped in dex and we just do not see it as a profitable business, look at every single other place that did that and you will see that the price of the token dropped significantly lower and made it something worthless, I do not want to see that happen for chips.

I don't think so, logically speaking, the fact that a currency becomes worthless and like garbage, it does not come from where it is traded, it comes from the relationship between supply and demand. We can simply explain, if a currency has low demand, while its supply is too high, its value will inevitably be low, even if it is only traded internally or trade anywhere. Therefore, I do not agree with your opinion 

[dezoel]

all chips were mined by placing bets , the team doesn't own a fixed percentage of chips like other projects and they don't need the token itself since the site is getting 50% of the profits anyways
so in short if the token was listed the team won't be able to dump the price

but yeah I agree with you about the other sites' tokens , most of them are dying in price
it's kinda complicated since these type of tokens pay you divs , so for example you may buy the token for 1$ , sell it a year later for 0.5$ and still make money if you count the dividends you got during the year

The problem is that when there is token that can be earned by wagering there is a good amount of people who keep wagering and then hoping to make some money from the dividends, when you give people an option to just buy it instead of wagering they will do that instead of wagering because why risk your money when you can simply buy it.

However this creates a vortex, which means that less and less people will wager because they can simply buy the token instead of risk wagering, which means that there will be less wagering, when there is less wagering there is less dividends earned, and when you earn less dividends that means price will fall and when the price falls then people will wager less to earn it and the cycle repeats itself. This is why I hope that chip doesn't do something like this, it is not going to end up with anything profitable for anyone ever.

[iv4n]

...

The problem is that when there is token that can be earned by wagering there is a good amount of people who keep wagering and then hoping to make some money from the dividends, when you give people an option to just buy it instead of wagering they will do that instead of wagering because why risk your money when you can simply buy it.

However this creates a vortex, which means that less and less people will wager because they can simply buy the token instead of risk wagering, which means that there will be less wagering, when there is less wagering there is less dividends earned, and when you earn less dividends that means price will fall and when the price falls then people will wager less to earn it and the cycle repeats itself. This is why I hope that chip doesn't do something like this, it is not going to end up with anything profitable for anyone ever.

I don't see that "vortex" you are talking about... some of us gamble because we like it, and if we get something extra from that (mining) even better! It's why we risk money, to gamble and have fun, just investing for a sake of staking and receiving dividend payouts is something different, you have many projects for that, it doesn't have to be related to gambling! There's also one more interesting thing, maybe you can buy tokens for $100, but you can also wager a lot with $100, and mine a lot more tokens than you can buy with that money!

Casinos should be casinos, with or without some kind of "profit-sharing" feature! They should take care of their customers, add more games from time to time, have nice promotions, etc... and as long as they are doing that they will have players!

[dezoel]

I don't see that "vortex" you are talking about... some of us gamble because we like it, and if we get something extra from that (mining) even better! It's why we risk money, to gamble and have fun, just investing for a sake of staking and receiving dividend payouts is something different, you have many projects for that, it doesn't have to be related to gambling! There's also one more interesting thing, maybe you can buy tokens for $100, but you can also wager a lot with $100, and mine a lot more tokens than you can buy with that money!

Casinos should be casinos, with or without some kind of "profit-sharing" feature! They should take care of their customers, add more games from time to time, have nice promotions, etc... and as long as they are doing that they will have players!

"some" of you may, but you are not the only people, there are also a lot of people who gamble here because they like to make that forever income, because let's face it you gamble here for a while, get the coin and then use that to make money until this website is totally gone and casinos usually last very long so that means you can make money for a decade at least. You really think that there are no people like that gambling here?

We can argue about how much percentage of the people are like you and how many are just here to make dividends but at the end of the day there are some that does it and THAT creates a vortex, that is the reality. Which means that my point stands, yours is not wrong, there are many that like gambling for gambling sake and they will continue so I am not saying you are wrong neither, just do not forget the existence of what I said along with what you said.

[iv4n]

...

"some" of you may, but you are not the only people, there are also a lot of people who gamble here because they like to make that forever income, because let's face it you gamble here for a while, get the coin and then use that to make money until this website is totally gone and casinos usually last very long so that means you can make money for a decade at least. You really think that there are no people like that gambling here?

We can argue about how much percentage of the people are like you and how many are just here to make dividends but at the end of the day there are some that does it and THAT creates a vortex, that is the reality. Which means that my point stands, yours is not wrong, there are many that like gambling for gambling sake and they will continue so I am not saying you are wrong neither, just do not forget the existence of what I said along with what you said.

What is your point exactly?! You will get dividends if you hold tokens, the only way to get to those tokens is to wager, at least at Chips, at this moment! But even if it's tradable, like it's the case with some other in-house tokens, you can buy them and stake them for dividend payouts! Look Sy's explanation...

That "forever income" sounds like you don't know much about this feature! You can have "forever income", but to maintain the same daily payout, you have to gamble/invest more, simply the distribution is not over, with more tokens issued your cut is getting lower every day!

I don't want to argue, I am simply trying to understand what you want to say! Are you a gambler or just an investor? Do you have any Chips?

[arallmuus]

forever income

Well as @iv4n has explained, your share percentage will keep on getting lower unless you keep on wagering to increase your chips

and how many are just here to make dividends but at the end of the day there are some that does it and THAT creates a vortex

I kinda get what your concern is but rest assured though. Its part of the plan to make it tradeable but its at the bottom of the list so there is still plenty of time to raise your concern to the staffs directly on the telegram group chat if you would like to  

Anyway buying token and hoping to get dividends from it is actually 'normal' nowadays. Its pretty much similar concept with token staking, you will get around X APR from it in form of tokens

[dezoel]

What is your point exactly?! You will get dividends if you hold tokens, the only way to get to those tokens is to wager, at least at Chips, at this moment! But even if it's tradable, like it's the case with some other in-house tokens, you can buy them and stake them for dividend payouts! Look Sy's explanation...

That "forever income" sounds like you don't know much about this feature! You can have "forever income", but to maintain the same daily payout, you have to gamble/invest more, simply the distribution is not over, with more tokens issued your cut is getting lower every day!

I don't want to argue, I am simply trying to understand what you want to say! Are you a gambler or just an investor? Do you have any Chips?

What I am trying to emphasize here is that there are investors and there are gamblers, and right now the investors have to gamble to become investors, they do not have any other option, but when given a new option that will mean they will just buy the token/coin and not gamble. That’s simply it, nothing more. So to make it a bit more clear, right now there are people who gamble on this casino right? Simple. There are people who make chips because they gamble here right? Simple. There are people who would not gamble here if they could just buy Chips for dividends, but forced to gamble if they want chips right now because it is the only option.

So all in all, what I am saying is that it is simply just a logical situation where if chips are out there in some exchanges we will probably see people that just end up not gambling, which will lower the dividends, that’s it.

[Lakai01]

Personally, I am not really against that. I like sites that have their own token (chips, betfury) and who are related to a dividend system. It gives a motivation to the players to keep playing and wagering, because the more you play, the more tokens you will receive and thus the higher your (daily) dividend.

I see it the same way. Own coins in combination with leveling systems, (with "goodies" per level), tend to keep me longer on their site than platforms without comparable systems. Leveling systems are great for long-term motivation and it's much harder to switch to another casino because you don't want to give up your progress.

[iv4n]

...

What I am trying to emphasize here is that there are investors and there are gamblers, and right now the investors have to gamble to become investors, they do not have any other option, but when given a new option that will mean they will just buy the token/coin and not gamble. That’s simply it, nothing more. So to make it a bit more clear, right now there are people who gamble on this casino right? Simple. There are people who make chips because they gamble here right? Simple. There are people who would not gamble here if they could just buy Chips for dividends, but forced to gamble if they want chips right now because it is the only option.

So all in all, what I am saying is that it is simply just a logical situation where if chips are out there in some exchanges we will probably see people that just end up not gambling, which will lower the dividends, that’s it.

Everything is an investment, and because there is no risk-free investment all investors are gamblers!

If a casino lose players, for any reason, there will be no profit, so tokens will be worthless! So you either believe in the casino future and you invest your money in gambling/mining, you invest in purchasing those tokens (if possible), for the share of the profit, or you don't believe in all that and you stay away!

Risk is always there, many things can go wrong... but there's also a chance for success! Are you a pessimist or an optimist? Are you willing to risk and how much risk you are willing to take? Classical questions before making an investment...

[dezoel]

Everything is an investment, and because there is no risk-free investment all investors are gamblers!

If a casino lose players, for any reason, there will be no profit, so tokens will be worthless! So you either believe in the casino future and you invest your money in gambling/mining, you invest in purchasing those tokens (if possible), for the share of the profit, or you don't believe in all that and you stay away!

Risk is always there, many things can go wrong... but there's also a chance for success! Are you a pessimist or an optimist? Are you willing to risk and how much risk you are willing to take? Classical questions before making an investment...

There is a HUGE difference between gambling and investment.

In investment you do not have any type of "guarantee" to lose money at all. Whereas in gambling there is a guarantee that you will lose money.

So the difference is that, if you buy this token then there is a chance you may make money or you may end up losing money, but if you gamble, as long as you keep gambling there is 100% guarantee that you will end up losing money, all because house edge, sure there could be some sort of luck involved which makes you win in the middle of the situation, but at the end of the day you are talking about something that is only good for a moment, then you will keep losing in the future.

So long story short, a person who gambles here to make more chip right now, may end up not gambling and not risking and end up buying chips because it is less riskier method.