Topic: 🎲BetFury.io|​​​💫 Stellar network & XLM 💫|📈BFG farming on BabySwap - page 34. (Read 84899 times)

Does the Howey Test have any significance for those projects that are outside the jurisdiction of the USA and don't serve users from the USA? I doubt it. In my opinion, the reason why exchanges aren't interested in the BFG listing and the Betfury team is not even trying to list its token on any popular exchange is not because of this.

Exactly what’s the current status of BFG tokens. There’s no further plan to grow the value aside from token burning while they gave higher APY for stakers that rewards BFG token. They even have lock period but in exchange rewards extra BFG token thta just delay the sell off yet it intensified once the tokens unlock.

The should start treating well BFG tokens instead of using it as rewards token alone and source of money for their marketing. I think adding more utility such as casino rewards in a form of free spin and free bet for all BFG holders will make users keen to hold this token.

I don't think you understood my point. Burning doesn't really matter here. It's more of a signal of action then meaningful action. Also i don't have a clue what kind of emergency measurements you are talking about? Tokens that are burned were never coming to market anyway. Also supply, what ever it would be is insignificant number by itself, and it doesn't make sense to compare it to other coins. Just like the token value. Only by combining them you get meaningful data you can use for comparison (aka marketcap / diluted marketcap).

APY is way too high, yes, but that's far from the only reason this is failing. Main reason is because Universe B Games B.V. doesn't really care about it. And after they have burned all their own tokens, they have zero incentives to care about bfg.

According to coinmarketcap BFG Token's market supply is more than 3 billion tokens. That's a huge number compared to Bitcoin and Ethereum, so they have a very good space left that allows them to burn millions of coins regularly. This will allow them to attract many people and take emergency measurements when coin starts falling.
I personally think that BFG offers too big APY and they won't be able to keep this coin with APY as high as 130%. Fun token, that was owned by freebitco, failed at 25% APY. At the moment Betfury stands strong but I am not sure they'll keep it up.

Their value for sportsbetting is terrible aswell. Bad odds, bad cashback. Ive wagered 20k usd in sports, and recived about 1/4th of what i would have received on Stake or Rollbit. I wont be depositing more.

About that burning...



Tokens they are burning come from tokens that are lost in in the casino, and tokens that team have earmarked for burning from their own wallet. There's no indication that they would continue burning anfter those are gone, as in nowhere it says they would ever buy them from a market. It would cost them actual money, unlike their current system.

So i am not sure how this would have any possibility to raise the value. It might raise value of dividends in time (depending on the burn / issue rate), if they keep paying those. And call me a skeptic or fudder, but i wouldn't keep put much hope on that. They will most likely offer a voting change for that in the future where users have 2 bad choices to choose from. It's not like they have much cared for their users or listened to us so far.

And people who hope that BFG gets listed to any decent CEX like binance, just that one comment (among of many they have made): "Planned burnings increase the value of BFG token" means it fails Howey Test and makes it clearly a security token. That obviously means that no legit CEX would risk listing it, as they would get shit from that if they would get caught.

When i voiced my concerns about such sales pitches in very polite manner in their chat, and asked about their legal approach, i got muted and my messages deleted.

I don't know much about how the BFG burn system works, but what I have seen from many of their projects that burn their tokens usually experience an increase in price, but that also depends on how the burn system is carried out as well as the amount of supply available, if indeed the betfury team can't doing it burning every month and only doing it for six months there is usually a roadmap that they might follow and there haven't been any changes made by the betfury team regarding the rules on their roadmap.

Usually there are projects that have set their road map so they have to follow it to the end, if they want to make changes in the middle of the road breaking the road map rules of course they will also be blamed by other users because they are inconsistent and it is so easy to change the rules and regulations that they have written previously on their roadmap, I've heard someone discussing their roadmap but I haven't seen it further about their token burning system, but what I know is that there is no significant price change when BFG does the burning.

Its like they just have something to show up to their community then try to hype up with burning of token activities they done but now they see that it didn't give much any effect since people already know how to calculate things and find out that what they do cannot do something great to help BFG to get a raised. Obviously people are not much interested on token burning so maybe they should change their approach and create something unique plan so investors will not get tired waiting for them since if they don't do anything just to gain the interest of people maybe its hard for us to see BFG to get a good pumps in future. But I'm not saying that there's no hope for this token but if dev should do brilliant action maybe there's some changes will happen.

It's worth noting that the major part of BFG tokens burned monthly are tokens of the Betfury team. If I'm not mistaken, the Betfury team initially owned 20% of the total emission of BFG tokens, i.e. 1 billion tokens. So even if they decided to burn 1% of the total emission every six months, their reserves of BFG tokens would run out only in 10 years. Obviously, they aren't interested in burning tokens like that.

I agree with you that burning BFG tokens doesn't affect the price. The Betfury team could think about making it more effective. Suppose they could burn more tokens at least once every six months. For example, Betfury could burn 1% of the total supply every six months. I think that could positively impact the price of BFG, but the casino doesn't want to do it.

No significant growth happening since theirs no solid plan has been done by devs. They don't put much effort to create something useful for their token that's why this topic about possible development will never end since so far a lot of people is not satisfied the way how they handle their token. Maybe this is the reason why people lost their trust to accumulate since many maybe feel that they cannot get something for BFG.

I don't think we should do something about this but rather the dev or Betfury team should do something so that BFG will gain some exposure and introduce again to a lot of people since it seems there's a lot of investor forget about this token.

The Betfury team yesterday announced that they had finished beta testing of futures on its platform. They also noted its confidence that users will not have any technical problems with it. Moreover, it looks like they have added some new trading pairs with SOL, DOGE, ADA, AVAX, and BCH.

Honestly that amount is also taken out of market anyway, the fact that it is burnt only means that it is not going to be put back in the market, which is great to hear and we love that, I mean honestly burning is great and it should keep going. However, that money is not in the market anyway, so saying that it could generate hype is not real, even the giant BNB doesn't get that much hype around these parts, I think it would have to be something special and could be done in a different way.

I personally believe that we need to consider what we could do with this and that seems like the most important part. I am not saying that this is going to be easy or hard, just saying that we are not going to end up with a big BFG increase with this.

Monthly BFG burning cannot create hype, as this amount is insignificant relative to the total supply. By the way, since the beginning of this year, the Betfury team has been burning an average of 3,2 million BFG tokens every month. If they continue at this pace, it will take them more than 21 years to burn at least 50% of the total BFG supply.

They have series of token burning made but so far it didn't get a hype for BFG since maybe people use to see this on other shitcoins and think about its normal action especially if the token has a lot of supply.

So for price pump maybe people can't expect anything like this to happen since so far to many people are still not satisfied the way how they handle the developments on their token. But so far they are doing good launching a promotion for their casino so maybe in future they might think about something that can catch the interest of people to look and accumulate their token.

People wait for some hype to come for BFG since I believe there's still a lot of people holding BFG and just wait for some opportunity to dump then earn some profit.

It doesn't look like the price of the BFG token can go up anytime soon. It is worth noting that the price almost reached 2 cents in mid-March, but now it has dropped back down to 1.65 cents. As for the burning, I don't think we should take it seriously, as the monthly BFG burnings in the way that Betfury conducts them now are just a marketing ploy and nothing more.

I think you are right! The BFG tokens are interesting because of the staking and the daily dividends you can get but other than that, it has not so many options. The price can go up but the monthly burnings they do have not really an impact on the token price itself as the amount they burn is pretty low.

That's true.

The performance of the casino itself will determine the value of their own native token. But if they've been working very hard on it, there's a likely that the value will go up.

And that's one thing that's hard to maintain, the good value of the token itself from casinos as they have to add liquidity and volume of it when it's quite low.

Here I am completely agreed with you about few points about this project and casino but still few things which are not happening by team are needed to happen because still I believe they are doing good job, and they need to give updates regularly to their investors and all members of the casino which will improve confidence which is tumbling due to their recent few changes, and I am not sure whether we will have this token on Binance in long run because things are not favoring for having this listed on better exchanges, and they are also not doing anything for improving price of the token as well.
Here no doubt still the best thing their casino and sportsbook doing good work, and we have nothing problem for anyone about these all-in recent times.

As you can't push thru the team to regularly give the update of the development their token, you can just assess the utility of their token and how are they performing right now. If you feel it is not up to your expectations, then sell your tokens and move on. It is hard to expect that things will move swiftly because they have other concerns on their business. I understood, a lot of their holders are still hoping that one day, they will list it to binance. But for now, work on something you think is more plausible to happen rather than expecting something that is far from the horizon.

Just think of the fact that this casino/bookie is still alive and doing their business. Most casinos which launched their own tokens were already dead. So be grateful that this site is still competing with other reputable gambling sites.