210.17386079 now.
Can we see the address where the fund is being raised? 
Topic: [ANN] BetKing.io ICO - Bitcoin Gambling website - 581.4 BTC raised so far - page 15. (Read 29690 times)
December 04, 2016, 05:37:45 PM
December 04, 2016, 01:33:53 PM
210.17386079 now.
December 04, 2016, 05:21:04 AM
Is your personal info public?
Where are you located?
How many people are part of the board?
How many people are currently employed?
Are you incorporated?
Do you intend to pay tax or get licensed?
Where are you located?
How many people are part of the board?
How many people are currently employed?
Are you incorporated?
Do you intend to pay tax or get licensed?
Yes
UK
There's only me officially employed at the moment but I have put together a team last week of 3 developers who are working on a trial period.
I pay tax already. I am incorporated. However a new company would most likely need to be formed if the ICO is successful.
December 04, 2016, 02:02:03 AM
Is your personal info public?
Where are you located?
How many people are part of the board?
How many people are currently employed?
Are you incorporated?
Do you intend to pay tax or get licensed?
Where are you located?
How many people are part of the board?
How many people are currently employed?
Are you incorporated?
Do you intend to pay tax or get licensed?
December 03, 2016, 09:29:39 PM
Latest figures for today of total invested 183.45670739
Still 4 days left of the 10% bonus.
Still 4 days left of the 10% bonus.
Thanks for replying to my PM - I just put BTC5 in
December 03, 2016, 05:18:54 PM
Latest figures for today of total invested 183.45670739
Still 4 days left of the 10% bonus.
Still 4 days left of the 10% bonus.
December 03, 2016, 12:11:12 PM
I'm wondering if people are a little scared to invest due to the no cap and that if we got too much then your share is low.
Maybe we should have the option that if we raise 4000 you can get a refund, 1st come first server, until funds drop to 3000?
Maybe we should have the option that if we raise 4000 you can get a refund, 1st come first server, until funds drop to 3000?
I believe it has to do with the already small amount of ownership for an overly lucky casino. To expect the same returns is mathematically wrong. It's even more scary when we don't know how the revenue-expense ratio is determined along with no way of being able to ever enter or exit. Far more unknowns than just the amount of shares and crazy more risk than just being able to be the bankroll. You're basically asking for an IPO of only 1/3 of a company without any documentation or proof of how you'll get 2x to 4x on investor returns to justify the risk. Hell there isn't even a plan laid out it's just give me money for an already tiny part of the company so I can go "grow" it because connections. How does that not seem overly scary to you?
December 03, 2016, 07:05:57 AM
Broad question Dean - Are you going to pay yourself a salary or anyone else for such expenses?
What is your estimate of total annual expenses planned for the next few years and can you break them down?
What is your estimate of total annual expenses planned for the next few years and can you break them down?
This would be interesting to know Dean.
Also the cap you are talking about might help. Would you still give the first weeks investors the bonus?
December 03, 2016, 06:54:24 AM
I'm wondering if people are a little scared to invest due to the no cap and that if we got too much then your share is low.
Maybe we should have the option that if we raise 4000 you can get a refund, 1st come first server, until funds drop to 3000?
Maybe we should have the option that if we raise 4000 you can get a refund, 1st come first server, until funds drop to 3000?
sounds good, if you exceed the target, let people divest excess funds if they choose to
December 03, 2016, 06:22:14 AM
I'm wondering if people are a little scared to invest due to the no cap and that if we got too much then your share is low.
Maybe we should have the option that if we raise 4000 you can get a refund, 1st come first server, until funds drop to 3000?
Maybe we should have the option that if we raise 4000 you can get a refund, 1st come first server, until funds drop to 3000?
December 03, 2016, 02:26:54 AM
End of first day, can you show us an address?
Here's address of the funds raised so far.
https://blockchain.info/address/1FFweGFja9VGXXB11JA4eExZGGFaS5zjzj
Thanks for show btc address
December 03, 2016, 01:08:43 AM
Broad question Dean - Are you going to pay yourself a salary or anyone else for such expenses?
What is your estimate of total annual expenses planned for the next few years and can you break them down?
What is your estimate of total annual expenses planned for the next few years and can you break them down?
December 02, 2016, 08:16:53 PM
To avoid any issues if I were selling I would take the full sale price and then give 30% of that to the investors of the ICO so you wouldn't have to worry about new owner not paying dividends.
Thank you for stating this explicitly. I think this may be a significant incentive to potential investors. December 02, 2016, 07:25:20 PM
To be clear well know by January 1st how these tokens are sellable for bitcoin?
Also curious to understand what determines the change in frequency and how you decide revenue-expense. Some businesses choose to dump all revenue into expenses and if you were to do this then investors would never get anything back. What determines how that flows?
Thanks for offering this and answering questions,
Also curious to understand what determines the change in frequency and how you decide revenue-expense. Some businesses choose to dump all revenue into expenses and if you were to do this then investors would never get anything back. What determines how that flows?
Thanks for offering this and answering questions,
December 02, 2016, 07:18:47 PM
Dean, I don't think you really answered any of my questions, and completely avoided a lot of my bigger points, but it's up to the investors to decide if you answered them sufficiently.
Best of luck.
Best of luck.
December 02, 2016, 06:51:57 PM
I am not going to invest in this ICO..
At the first page it is mentioned as refund if less than 2000 btc threshold
when i check the site...it says
"If you would like to invest in our ICO click the invest button. Make sure you have read the details and terms in the post above. THERE IS NO REFUND.
So i am not going to invest...Also people watch out before you do so..
At the first page it is mentioned as refund if less than 2000 btc threshold
when i check the site...it says
"If you would like to invest in our ICO click the invest button. Make sure you have read the details and terms in the post above. THERE IS NO REFUND.
So i am not going to invest...Also people watch out before you do so..
If we don't raise the target 2000 then everyone will be refunded.
The message on the site is just to make sure people don't accidentally put money in thinking it's for the old bankroll investment feature.
December 02, 2016, 06:51:34 PM
End of first day, can you show us an address?
Here's address of the funds raised so far.
https://blockchain.info/address/1FFweGFja9VGXXB11JA4eExZGGFaS5zjzj
December 02, 2016, 06:50:17 PM
End of first day, can you show us an address?
Here's address of the funds raised so far.
https://blockchain.info/address/1FFweGFja9VGXXB11JA4eExZGGFaS5zjzj
December 02, 2016, 06:47:34 PM
Quote
A very interesting ICO, however the valuation you are putting on the website is ludicrous. You are essentially saying the company is worth the amount of profit earned lifetime, ~7000 bitcoin, which is a bit insane. Dean has been talking about adding sports betting and a casino for a couple years now, and each time they've popped up, they've gotten extremely low traffic and/or they did not function properly. Would this change with better software and better marketing? Yes. However, this also means we have to put our trust as investors into a pie in the sky promise that you have contacts in the industry who can drive the company to another level and finally get a foothold in the bitcoin gambling industry. But I have seen no proof, despite past promises, that this is going to happen. We need more than 'I know a lot of contacts'. We need a portfolio, a well thought out business plan, and more info on these supposed experts you know so we can get a more accurate picture for how you are going to turn investor's money into a casino and marketing machine that actually has a chance at significant market share outside of the Dice market.
You need to lay out exactly what this 2000 bitcoin is going towards.
You need to lay out exactly what this 2000 bitcoin is going towards.
The value I put on it is fair in my opinion. If you think it's not then you don't invest. No one is forcing anyone to do anything here.
You say finally get a foothold yet BetKing is already one of the biggest sites in the Bitcoin gambling industry.
There's only a couple of sites that are making the kind of profit that BetKing has made. Though none of them are as transparent.
It's probably OK to assume that the only sites making more are Primedice, maybe Bitcoin Video Casino and Bitcasino.io
So BetKing is already a top player with essentially no marketing. Real marketing campaigns can cost $10-20k a month minimum.
There will be a plan released shortly when we develop one with the team I mentioned.
Quote
I think an important question is, why would any contacts or software developer you know want to help build you a casino platform that's worth a damn if you they aren't going to have any equity in the business? Why wouldn't they just build it on their own?
Imagine you walked into Shark Tank and you told Mark Cuban 'I want 1.5 million dollars (2000 btc) for you to invest in 30% of my company. I've shown success in this other market, but this new market I've never been in and I don't know yet exactly what we're going to do, but I know a lot of people in the industry, trust me'. You'd be laughed off the show.
You don't make sense here. They help because it's their job. They get paid. Are you assuming I just a whole team involved that don't want paid for their work?Imagine you walked into Shark Tank and you told Mark Cuban 'I want 1.5 million dollars (2000 btc) for you to invest in 30% of my company. I've shown success in this other market, but this new market I've never been in and I don't know yet exactly what we're going to do, but I know a lot of people in the industry, trust me'. You'd be laughed off the show.
Quote
It is also important to note that 1 bitcoin earned 2 years ago is not equal to 1 bitcoin earned today. Back then, the price was about $250, and now its at $750. Even 6 months ago, the price of bitcoin was about 60% of what it is now. A huge chunk of the profit came from those time periods. Bitcoin is at, basically, an all time high. I get the thought process from your perspective, although I think it is misguided. You've tried to sell Betking at least 2 other points in the past year that I can remember, but the problem is almost all of Betking's value stems from the bitcoin community's trust in Dean. The brand and software has very little value in my opinion - that's why no one ever offers anything close to what Dean feels Betking is worth (apparently 7000 btc).
Most of the profit is actually recently. You can check on Dicesites.com. The past 6 months BetKing has made 3424 Bitcoin. Also no one offers because there's not many people who have enough Bitcoin to buy the site AND bankroll it themselves just casually browsing this sub forums I post in.
Quote
Dean's problem in this situation is the only truly valuable commodity in his business is himself as someone who is trusted. That is worth a lot of money. However, all these attempts to sell the whole, or parts, of the company are going to come up short because Dean obviously disagrees with my assessment of the value of his website/software. Dean should eventually just take Betking private and get all the profits himself. It would provide a steady, healthy income for years. Build a new casino/sports betting platform without the investors. Like you said, you are taking in 50% of the profits for a site you believe is worth 5 million dollars and has basically zero operating cost.
If the ICO fails to raise it's target then the plan is to do exactly this. BetKing is now private and not crowdfunded and I'm happy to just do what I'm doing. It would just be faster and take the site to a new level if we raised some serious funds to use to do so.
Quote
A massive problem as well is investors are likely never going to get their investment back+profit, because the only scenario where they do is if Dean decides to sell the company in the future. The problem with that is, Dean is the value of this company. If he doesn't come in the package, no one is paying 7000 bitcoin for this site at the current USD/btc value. Sure, you could sell your shares to other interested buyers, but that will be the only market there is for your shares. You will be relying on dividends to make you money, and this does not have a great outlook if you look at the past few months of wagering on Betking.
The past 6 months BetKing has made 3424 Bitcoin.
Quote
Also important to look at is how far above EV Betking has been running for Dice. Selling for the actual profit amount is actually quite disingenuous, because Betking could just as easily be at 0 profit as it is at 7000 btc profit. The EV number is the only one that truly matters.
The value isn't based on the EV or the profit of the dice. It's based on future growth and more products and revenue streams.Quote
Regardless, best of luck.
Thanks
December 02, 2016, 06:37:52 PM
So, how much has been obtained from the ICO?
Jump to: