Buying more hyper today and will invest in gamebet tomorrow when my coinbase deposit clears.
They just posted their thread from the pre announcement.
https://bitcointalk.org/index.php?topic=1410287.new#newHas anyone here used the site before because I see they had a beta test.
Maybe some of this community got to be the beta testers?
$1m valuation on an unproven business model, with no justification for it. This is a HORRIBLE deal right now.
Completely agree, they are a new site without a lot of backing and not enough business to fall remotely close to $1,000,000 in value. If they had thousands of betters weekly that bet upwards of $100 each then I could see a fairly high valuation being said, but as it is now it has almost no value to it and would be a huge risk.
it may be a huge risk, but what the hey. I made so much on eth I need somewhere to risk it. But if they had 1000's of betters betting 100's of dollars I think they would be worth way more then just 1 million. The house always wins so the value of the business continues to grow, it cant go much lower then it is today.
sounds like ground floor to me. next stop is 6 feet under
or profits. I invested but im also investing in dgb and hyper.
I think gaming and Esports has a bright future wit crypto.
The proper way to value a business is really simple.
1. You take a look at their assets. Ok, according to their thread they made a total of $175 in profits using others money so this leaves them with $175 in profit. Then you add a domain so thats about $10 so now were at $185. Servers if they are owned can maybe add $1,000 but they are hiding that so this value cannot be added.
2. You take a look at what they are making, $175/wk x 52 weeks in a year = $9,100. We now know expected yearly income at this exact moment in time excluding business expenses such as cloudlfare costs, server costs, advertising, disputes, staff income.
3. Yearly revenue is often multiplied 2-3x to find their value. $9,100 x 3 = $27,300.
Using the above it is now safe to say that they are valued at close to $30,000. This is nowhere near being $1,000,000
This is just the basics as I didn't go into full detail but I can assure you that they are nowhere near being close to $1million dollars and do not have the assets to back that figure up.
When a company/person/people inflate their value then that is a good sign of something not being right. If they were honest they would simply give a more accurate value of their business and let investors make a decision off of that instead of throwing around unreasonably large numbers in the hopes of oohing and awing people into investing.
I'm not saying not to invest with them, I'm just saying it is better to take a closer look into things before going blindly in and getting burned later on.
Your math is ridiculous. They were in a beta launch, wit no advertising and earned 175 in a week. and from their math that is over 10 points on what was gambled. That's amazing results for a gambling site. most site only earn about 2-5% of what's gambled.
Im sure whales were not making deposits, and if they were im sure it was small amounts. When I try a new gambling site I always send in little amounts first and see if the withdrawal works before sending in a lot of btc.
Im sure if they spend money on advertising they can easily grow 100x in a short matter of time, and imnot talking years.
If they become successful in years they could be reaching at 100'sM or even a B in transactions.
eSports is huge and only growing.
