As much as I love the drama in this thread, let's stick to the facts. Here are some facts to consider:
1.Because the ICO description divides the total bankroll value of $ 6,500,000 with only 70,000,000 BKB tokens leading to the value of $ 0.09286 per token.
Whereas if you divide the $ 6,500,000 total bankroll value with 100,000,000 BKB, the value is only $ 0,065 per token!
I've raised this question
here on June 23, 2017. It was answered 3 posts lower:
I don't end up short. The buy back price is tied to the current bankroll profit. I'm committing to buying back at least 10% of tokens every 3 months.
The site will be making profit in that time and it will be the profit that is used to buy back the tokens.
2.What investors were not told was that those 30 million tokens were going to be part of the "profit" distribution
That's not true, it was explained:
The total funds raised will determine the price per BetKing Bankroll token.We will take the total value of all funds at the current exchange rate at the end of the crowdsale to determine the total raised funds.E.g. If we raised $1,000,000 then the price per token would be $0.014 (1,000,000 / 70,000,000).
The buy back price offered by BetKing will be based on the current total bankroll profit.So for example if the price of the token at the end of the crowdsale was $0.014 and the bankroll profit was $1,000,000 then the buy back price would be $0.024 (1,000,000/100,000,000 + 0.014).
3.At the first page of the BKB Crowdsale thread, Dean told me this wouldn't happen.
My question:
Will the tokens that are bought back by BetKing be re-sold again at some point, or are they off the market forever?
Dean's answer (
archived):
They won't be re-sold no.
Firstly, thank you for your post. I appreciate it.
Regarding the statements you made, I ask you where is the evidence? Yes Dan Nolan said many things but where is the evidence? How can what you point out that Dean Nolan stated be verified and cross-refernced?
1) The fact the buy-back of 10% every quarter is linked to the "profit" means Dean Nolan will never be short regardless of the number of tokens out there because he is only buying back 10% of any investors balance
of their Betking tokens at any given time forcing them to keep 90%. They cannot sell them anywhere else because no demand for them unless they sell at a huge loss.
2) He created 100 million tokens. He distributed 70 million to investors. He kept 30 million to spend on marketing, developers and promotion
Why would the 30 million tokens (that Dean Nolan did not release during the ICO) generate "profit"? It means the 70 million ICO token holders receive
LESS profit share!
Why would Dean Nolan keep profit on 30 million sitting-idle tokens knowing the profit is going directly into his own pocket when those tokens were to be distributed to "promotion, marketing and development"?
When those tokens were distributed out as part of the "promotion, marketing and development" then they become eligble for being part of the profit share.
Where is the evidence showing on which date Dean Nolan parted with hom many tokens and for which purpose?
3) If what you wrote is true then it means the 70 million tokens Dean Nolan claims he is in possession of cannot be re-sold. Of the original 30 million tokens not made available during the ICO how may remain?
Which tokens is he selling on the Betking website now?
https://betking.io/invest If the tokens are being sold are part of the original 30 million tokens which were not made available during the ICO then
WHY is Dean Nolan claiming, including and keeping the "profits" on them?
How can anything he says be verified and checked to ascertain no fraud has taken place (though as far as morals are concerned everybody can see the shambles)
Dean Nolan should consider being more transparent allowing people in general, current users, investors and potential investors to scrutinise the accounts.
