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[Maus0728]

An against the option of using your NFT as collateral to get a loan not minding how little the interest may be, loan repayment is not that easy most especially when you don't know what the future holds so instead of taking the risk of using your NFT as collateral [snip...]

Regardless whether you agree or not, there is nothing we can do about Rollbit's NFT Loaning Services, it is the people's prerogative if they are going to use their NFT as a collateral for an X amount of money or not, in fact, it is their own NFT in the first place. I am also sure that people are not blindly making any decision with regards to their finances or assets without weighing the possible trade-offs between risk and reward.
One thing that has always bothered me is what if one of the NFTs eligible for loan committed a rug-pull during the 7-day period? Is that considered a setback for Rollbit?

[worle1bm]

An against the option of using your NFT as collateral to get a loan not minding how little the interest may be, loan repayment is not that easy most especially when you don't know what the future holds so instead of taking the risk of using your NFT as collateral [snip...]

Regardless whether you agree or not, there is nothing we can do about Rollbit's NFT Loaning Services, it is the people's prerogative if they are going to use their NFT as a collateral for an X amount of money or not, in fact, it is their own NFT in the first place. I am also sure that people are not blindly making any decision with regards to their finances or assets without weighing the possible trade-offs between risk and reward.
One thing that has always bothered me is what if one of the NFTs eligible for loan committed a rug-pull during the 7-day period? Is that considered a setback for Rollbit?

Yes it's not like that who all own NFT that are eligible for this collateral loan will ask for the loan from the Rollbit team and only those who needs funds in emergency will use this option and this is how it is intended to work at primary level.But suppose you are not in need of funds and take this opportunity and then if you are unable to pay it in time you just lost your NFT which is worse case.So use it wisely.

[lienfaye]

Rollbit explains on the blog for a 7-day loan without interest but i don't know how much % if more than 7 days.

The loan period is 7 days only. If you cant pay the loan during that period then its over. No extension will be given and your NFT will be handed to Rollbit and will be listed at the marketplace (this is based on their support).

If we try to understand what Rollbit purpose of offering loans is to attract NFT holders to play on their site so I believe most of the users who take advantage of this offer are for gamble basically this is what Rollbit is hoping for.

Yes. Its an option to encourage the NFT owners to gamble or to continue to gamble if they're running out of funds. But regardless of the reason on why you're taking a loan, as long as you can repay it then its fine.

[aysg76]

The loan period is 7 days only. If you cant pay the loan during that period then its over. No extension will be given and your NFT will be handed to Rollbit and will be listed at the marketplace (this is based on their support).

Yes you are right on the point that only 7 days period is allotted to payback the loan so we can say that it's short term loan given to the NFT holders(check that are eligible for this) and after that you don't have any right to that NFT and it's already in the Rollbit custody but the point is they become owner of it afterwards.

Yes. Its an option to encourage the NFT owners to gamble or to continue to gamble if they're running out of funds. But regardless of the reason on why you're taking a loan, as long as you can repay it then its fine.

Most probably this is good thing but funding your gambling budget through this feature could be risky one like what if you lost your wagering amount and are unable to repay it? So this is not at all good but taking some emergency funds through this loan is good move but we all are wise enough to make a choice.

[stomachgrowls]

An against the option of using your NFT as collateral to get a loan not minding how little the interest may be, loan repayment is not that easy most especially when you don't know what the future holds so instead of taking the risk of using your NFT as collateral [snip...]

Regardless whether you agree or not, there is nothing we can do about Rollbit's NFT Loaning Services, it is the people's prerogative if they are going to use their NFT as a collateral for an X amount of money or not, in fact, it is their own NFT in the first place. I am also sure that people are not blindly making any decision with regards to their finances or assets without weighing the possible trade-offs between risk and reward.
One thing that has always bothered me is what if one of the NFTs eligible for loan committed a rug-pull during the 7-day period? Is that considered a setback for Rollbit?

Yes it's not like that who all own NFT that are eligible for this collateral loan will ask for the loan from the Rollbit team and only those who needs funds in emergency will use this option and this is how it is intended to work at primary level.But suppose you are not in need of funds and take this opportunity and then if you are unable to pay it in time you just lost your NFT which is worse case.So use it wisely.

Depends on certain mindset of an individual but pretty sure that they would really take advantage of that opportunity that they do have and might not intently to pay off that loan in case

but of course Rollbit isnt really just dumb to give out loan amounts but its just really a waste for someone who do think up this way considering on how valuable these rollbot could possibly be.

Use this in emergency imho just like on what been said but i highly doubt that there would quite a number will really be taking this advantage.

[barbara44]

The loan period is 7 days only. If you cant pay the loan during that period then its over. No extension will be given and your NFT will be handed to Rollbit and will be listed at the marketplace (this is based on their support).

Yes you are right on the point that only 7 days period is allotted to payback the loan so we can say that it's short term loan given to the NFT holders(check that are eligible for this) and after that you don't have any right to that NFT and it's already in the Rollbit custody but the point is they become owner of it afterwards.

Oh, if it is only 7 day period then it makes no sense at all. Loans are not suppose to be just 7 days, I mean what can you earn with a loan given to you in 7 days? There are literally no ways of making a lot of money in 7 days, only if you are like super super lucky and bull run happens right as soon as you get the money and keeps going up until the very last second. This we all know would be like a miracle and that is not the way to make money at all. Loans should be at the bare minimum be 6 months at top, sure if you want 1 day loan then you can get it, but at the max level it should be minimum of 6 months, probably 1 to 2 years as well.

The amount of 20-25 year loans for mortgages are through the roof (pun intended lol) and people are building wealth with it, don't tell me that you can't just make some money with that type of loan when banks have been giving them out left and right.

[arallmuus]

Oh, if it is only 7 day period then it makes no sense at all. Loans are not suppose to be just 7 days, I mean what can you earn with a loan given to you in 7 days? There are literally no ways of making a lot of money in 7 days, only if you are like super super lucky and bull run happens right as soon as you get the money and keeps going up until the very last second.

It might not make sense for you but look at this, Rollbit is trying to encourage potential customers to deposit NFT onto their platform with a small benefit of getting loan with the NFT as collateral. Obviously Rollbit is a gambling business not a money lending business so it just doesnt make sense for them to offer you longer period of loan

[Quidat]

Oh, if it is only 7 day period then it makes no sense at all. Loans are not suppose to be just 7 days, I mean what can you earn with a loan given to you in 7 days? There are literally no ways of making a lot of money in 7 days, only if you are like super super lucky and bull run happens right as soon as you get the money and keeps going up until the very last second.

It might not make sense for you but look at this, Rollbit is trying to encourage potential customers to deposit NFT onto their platform with a small benefit of getting loan with the NFT as collateral. Obviously Rollbit is a gambling business not a money lending business so it just doesnt make sense for them to offer you longer period of loan

This is the real point don't be fooled the main focus of rollbit remains on the gambling market they won't write ''borrowers have to gamble here'' It will not happen
But that's the real goal introduce rollbit to NFT users then attract their attention to gamble really a smooth marketing strategy if this program is not profitable Rollbit will definitely close it in the future that's how business goes.

People should be thinking that Rollbit is running a business on here and its just normal that they would really be having that kind of act and perks which they do know that they could
benefit into and of course it would be mixed up with some sort of usage or benefits into those people who do get involved or able to acquire.
They are the first who do apply NFT into gambling business and its surprisingly been effective.

[LUCKMCFLY]

https://blog.rollbit.com/introducing-nft-loans/

It is a great news that rollbit has introduced loan system on their platform using Non-Fungible Tokens as collateral. And it is a great milestone for rollbit as well as for the gambling platform. I think others gambling site should allow these types of loan. Many gambler will be benefited for that.

I really congratulate the site and all its managers, because this option will not only guarantee customers and strong traffic, it will also increase the interest of many, because it is an innovative system, it is also a very good strategy for them to give movement to their token, it is a master move, because they are combining loans based on token guarantees, that means that the token will most likely become deflationary in nature quickly and highly valued.

[michellee]

Oh, if it is only 7 day period then it makes no sense at all. Loans are not suppose to be just 7 days, I mean what can you earn with a loan given to you in 7 days? There are literally no ways of making a lot of money in 7 days, only if you are like super super lucky and bull run happens right as soon as you get the money and keeps going up until the very last second.

It might not make sense for you but look at this, Rollbit is trying to encourage potential customers to deposit NFT onto their platform with a small benefit of getting loan with the NFT as collateral. Obviously Rollbit is a gambling business not a money lending business so it just doesnt make sense for them to offer you longer period of loan

This is the real point don't be fooled the main focus of rollbit remains on the gambling market they won't write ''borrowers have to gamble here'' It will not happen
But that's the real goal introduce rollbit to NFT users then attract their attention to gamble really a smooth marketing strategy if this program is not profitable Rollbit will definitely close it in the future that's how business goes.

We never know what their reason to do that is but maybe they want to expand their business and use NFT to get more members as they are aware that the trend now is NFT. We have many possibilities or speculations, but it is still an option for gamblers so they do not have to use or follow the offers if they feel that is not right for them. They can just stick to using their usual way without using the offers. I am sure their main strategy is still how to get many more members using many strategies.

[worle1bm]

Oh, if it is only 7 day period then it makes no sense at all. Loans are not suppose to be just 7 days, I mean what can you earn with a loan given to you in 7 days? There are literally no ways of making a lot of money in 7 days, only if you are like super super lucky and bull run happens right as soon as you get the money and keeps going up until the very last second.

It might not make sense for you but look at this, Rollbit is trying to encourage potential customers to deposit NFT onto their platform with a small benefit of getting loan with the NFT as collateral. Obviously Rollbit is a gambling business not a money lending business so it just doesnt make sense for them to offer you longer period of loan

Exactly it might not be making any sense to you but for many it's sufficient enough to have an extra amount to use for 7 days period only and give it back with that time.Sometimes we are in urgent need of funds and these types of loan could prove extra helpful to us and you will see lot of people applying for the same.So one's need could entirely different from others.

[ultrloa]

Oh, if it is only 7 day period then it makes no sense at all. Loans are not suppose to be just 7 days, I mean what can you earn with a loan given to you in 7 days? There are literally no ways of making a lot of money in 7 days, only if you are like super super lucky and bull run happens right as soon as you get the money and keeps going up until the very last second.

It might not make sense for you but look at this, Rollbit is trying to encourage potential customers to deposit NFT onto their platform with a small benefit of getting loan with the NFT as collateral. Obviously Rollbit is a gambling business not a money lending business so it just doesnt make sense for them to offer you longer period of loan

This is the real point don't be fooled the main focus of rollbit remains on the gambling market they won't write ''borrowers have to gamble here'' It will not happen
But that's the real goal introduce rollbit to NFT users then attract their attention to gamble really a smooth marketing strategy if this program is not profitable Rollbit will definitely close it in the future that's how business goes.

We never know what their reason to do that is but maybe they want to expand their business and use NFT to get more members as they are aware that the trend now is NFT. We have many possibilities or speculations, but it is still an option for gamblers so they do not have to use or follow the offers if they feel that is not right for them. They can just stick to using their usual way without using the offers. I am sure their main strategy is still how to get many more members using many strategies.

That's what makes them cool since they always do proper things just to gain success and actually by joining the NFT scene make them smart knowing how big the market of this industry and they can accumulate bigger audience for their participation on that scene and not surprising to see how successful they are right now knowing that they have great marketing stuffs made.

[michellee]

Oh, if it is only 7 day period then it makes no sense at all. Loans are not suppose to be just 7 days, I mean what can you earn with a loan given to you in 7 days? There are literally no ways of making a lot of money in 7 days, only if you are like super super lucky and bull run happens right as soon as you get the money and keeps going up until the very last second.

It might not make sense for you but look at this, Rollbit is trying to encourage potential customers to deposit NFT onto their platform with a small benefit of getting loan with the NFT as collateral. Obviously Rollbit is a gambling business not a money lending business so it just doesnt make sense for them to offer you longer period of loan

This is the real point don't be fooled the main focus of rollbit remains on the gambling market they won't write ''borrowers have to gamble here'' It will not happen
But that's the real goal introduce rollbit to NFT users then attract their attention to gamble really a smooth marketing strategy if this program is not profitable Rollbit will definitely close it in the future that's how business goes.

We never know what their reason to do that is but maybe they want to expand their business and use NFT to get more members as they are aware that the trend now is NFT. We have many possibilities or speculations, but it is still an option for gamblers so they do not have to use or follow the offers if they feel that is not right for them. They can just stick to using their usual way without using the offers. I am sure their main strategy is still how to get many more members using many strategies.

That's what makes them cool since they always do proper things just to gain success and actually by joining the NFT scene make them smart knowing how big the market of this industry and they can accumulate bigger audience for their participation on that scene and not surprising to see how successful they are right now knowing that they have great marketing stuffs made.

And with the right strategies, I think that will help the site grow following the current trend so they can get benefits and have a chance to get more members for their site. The gambling industry will grow in the future so they can not close their eyes not try to involve with the trend. I am sure that not just Rollbit does that but the other gambling websites will also do the same and that is why the competition in the gambling industry will always exist because to be the top gambling site is not easy.

[worle1bm]

That's what makes them cool since they always do proper things just to gain success and actually by joining the NFT scene make them smart knowing how big the market of this industry and they can accumulate bigger audience for their participation on that scene and not surprising to see how successful they are right now knowing that they have great marketing stuffs made.

The NFT trend was at peak when they take advantage of this and launched their own NFT's in the market and grabbed the audience to their platform.The next big thing came when they started new addition with the NFT and see how much the hype is now for them.There are lot of extra benefits they are giving away with these to the holders which then become utility for them.We will see they introducing some big plans with them and next updates.

[aysg76]

So finally the jackpot winners are being announced by  the Rollbit team and you know it already if you are active on twitter.Here is one of the big winners:

Congrats to iamDK- on being the 3rd winner of our $RLB Lottery Jackpot! 🎉

Winning a whopping $64,811.67 🤑

It's great to see @snullebobini win, an active member of the Rollbit community for many months now!

Stake for a chance to win the $1.1m Jackpot: https://t.co/hVSyHTvwb5 https://t.co/ebX2atTqBq

The jackpot has rolled for a big amount and now it stands out at around $1.1 million which is great and they are disturbing huge to players.

[shasan]

The jackpot has rolled for a big amount and now it stands out at around $1.1 million which is great and they are disturbing huge to players.

I.1M million is a huge amount for the gamblers. It is for a single players or for multiple players? I think As the amount is big it is divided into multiple players. Do you know if it is for multiple players then what is the first prize, 2nd prize and third prize.

[webtricks]

I have few questions about Rollbit NFTs (aka Rollbots) and RollBit tokens (aka RLB):

• Is it true that Rollbots are on Ethereum chain and RLB are on Solana chain? If yes, then are these the official links: Rollbots | RLB
  
  
• I was going through RLB Whitepaper and noticed that Rollbots owner will receive RLB token but they have to stake the nft. Since, both nft and tokens are on different chains, will token drop be done manually or is there some kind of bridge which will link SOL address of the nft owner to Rollbots ownership?
  
  
• 77.7 RLB tokens are airdropped on some of my SOL addresses (one with NFTs). Are these from the official airdrops? If yes then what was the criteria and eligibility for the same?
  
  
• I see that RLB-based lottery game is explained in the WP. It is based on Bitcoin blocks but involves staking of RLB tokens. So, whether these RLBs mentioned in WP are actually staked on Solana staking program or first user deposit those on Rollbit and staking happens on website (off-chain)?
  

[stomachgrowls]

The jackpot has rolled for a big amount and now it stands out at around $1.1 million which is great and they are disturbing huge to players.

I.1M million is a huge amount for the gamblers. It is for a single players or for multiple players? I think As the amount is big it is divided into multiple players. Do you know if it is for multiple players then what is the first prize, 2nd prize and third prize.

You could read up all about the lottery on this link.
https://blog.rollbit.com/introducing-the-provably-fair-rlb-lottery/

Snipping out the information you've been seeking off.

On December 29th, some changes were introduced to the lottery jackpot. The hit rate was increased to 10% in each round, so that the jackpot will be won more frequently. Secondly, the prize is now fractionalised, meaning a random amount between 2% to 100% of the jackpot is paid out to the winner. For example, if the jackpot is $1 million, then if there's a winner they'd win anywhere between $20,000 and $1 million.

Once the jackpot has been rolled, a new round then automatically begins. You'll receive the tokens you staked (minus the staking fee) and you can stake RLB again to enter the next round. Entries will be valid up until the Bitcoin block where the winners are announced. You can also unstake at any time up until then, providing no multipliers are used.

Source: Link given above.

[worle1bm]

You could read up all about the lottery on this link.
https://blog.rollbit.com/introducing-the-provably-fair-rlb-lottery/

Snipping out the information you've been seeking off.

On December 29th, some changes were introduced to the lottery jackpot. The hit rate was increased to 10% in each round, so that the jackpot will be won more frequently. Secondly, the prize is now fractionalised, meaning a random amount between 2% to 100% of the jackpot is paid out to the winner. For example, if the jackpot is $1 million, then if there's a winner they'd win anywhere between $20,000 and $1 million.

Once the jackpot has been rolled, a new round then automatically begins. You'll receive the tokens you staked (minus the staking fee) and you can stake RLB again to enter the next round. Entries will be valid up until the Bitcoin block where the winners are announced. You can also unstake at any time up until then, providing no multipliers are used.

Source: Link given above.

Put out that information in quotes that you have directly copied from the blog even if you have provided the links to avoid any confusions and violating any rules.So suggesting you to keep it in quote as this shows text you have written is not yours.

Was not aware about this article and will try to read it completely and know what changes they implemented and how they are looking forward for jackpot.

[dezoel]

<snip>

More frequent wins are a lot more important part here. I know that small amount could be earned if it happens to be just 2% and I am sure that some people will get that eventually but the reality is that so far it has been saved up too long and that is not good at all, we should be able to do this like no problem and then end up with more wins instead of that much money saved constantly.

If we could get like 1 winner per week then it is fine, if we have a lot more frequent then it is even better. Imagine having 1 winner each day, that would give you hope right? Like you could actually have a chance to win that if you keep gambling every single day? Or at least it would feel that way.