BetKing.io - BKB token REFUNDS - $70k refunded so far - page 30.

iluvbitcoins

legendary

Activity: 2198

Merit: 1150

Freedom&Honor

Quote from: actmyname on December 03, 2017, 08:15:19 PM

Quote from: iluvbitcoins on December 03, 2017, 04:58:17 PM

-snip-

That's not how it is calculated. The initial token price is calculated with the prices at the time, not the prices now. The BTC, ETH and LTC should be considered 'sold' for the BKB tokens. If you wanted to profit off of the cryptocurrencies, then you should have simply not participated in the ICO.

The profit does change with the price of the coins because it's based on FIAT value and is a direct conversion.

I'm sure you wouldn't have started complaining if the BTC price dropped down to $1000, right? By buying BKB, you're hedging. Not investing in both BTC and the casino.

We bought a share of the casino and the casino profited 12 million$ so far.

If cryptocurrency prices went down to 1000$,so would the value of the bankroll.
Would Dean cover the 5 million $ losses from his own pocket?
I doubt so.

We have invested in the casino and the casino made 12 million $ since the ICO.

actmyname

copper member

Activity: 2562

Merit: 2510

Spear the bees

Quote from: iluvbitcoins on December 03, 2017, 04:58:17 PM

-snip-

That's not how it is calculated. The initial token price is calculated with the prices at the time, not the prices now. The BTC, ETH and LTC should be considered 'sold' for the BKB tokens. If you wanted to profit off of the cryptocurrencies, then you should have simply not participated in the ICO.

The profit does change with the price of the coins because it's based on FIAT value and is a direct conversion.

I'm sure you wouldn't have started complaining if the BTC price dropped down to $1000, right? By buying BKB, you're hedging. Not investing in both BTC and the casino.

BTCevo

legendary

Activity: 1834

Merit: 1008

Quote from: Mamasita22 on December 02, 2017, 03:10:36 AM

Hey, do you have any promotion for new costumers ? maybe 100% dep bonus with 2x wager ?

What can you expect for new customers on dice game? There will be only giveaways or may be some event, since it is dice site so they can't do much for some promotions but I believe they will give many events here. And btw where do you see other site that offer like that low number of wagering process. If any site will do this, I believe everyone will claim and site will close before they really on beta version

iluvbitcoins

legendary

Activity: 2198

Merit: 1150

Freedom&Honor

Quote from: BetKing.io on December 03, 2017, 04:55:03 PM

Quote from: iluvbitcoins on December 03, 2017, 04:51:11 PM

May I ask why isn't the buyback price higher?
We all invested crypto and all crypto has increased in value significantly + bcc + btg.

The token price was $0.09286 after the ICO.
The token value is calcualted as $0.09286 + ((total bankroll profit of eth, btc, ltc in $ at current exchange price) / 100,000,000)
Which is now $0.0966

A profit of $0.00374 per token

How is it possible that our total investment was worth 6.5 million and the token was worth 0.09286$
And now it's worth 14 million and the token is worth 0.0967$.

Just the 1088BTC are valued at 11 968 000$
26450 LTC at 2 645 000$
4041 ETH at 1 850 778$

Total is 16 463 778$ / 100 000 000 = 0.16463778$/token

That's without BCC and BTG!
Let's assume there's 1046 BCC nad BTG since that's what was collected at the ICO
1046*(1550+320)= 1 957 142$
16 463 778 + 1 957 142 = 18 420 920$ / 100 000 000 = 0.1842092$/token
Double the current buyback price!
Should also add 635 000 BKB dice profit, which is 0.635% shares less.

Our investment is 1046.6BTC, 4619 ETH, 856 LTC (11k*1046.6 + (4619*460)+(100*856)) = 13 722 940$
Just our investment is worth around 14 million, without profit
That's 0.1372294$/token

+ 1046.6BCC*1550 + 1046.6 BTG*320 = (1 957 142 + 13 722 940) / 100 000 000 = 15 680 082$ / 100 000 000 = 0.15680082$/token

BetKing.io

legendary

Activity: 1400

Merit: 1021

Quote from: iluvbitcoins on December 03, 2017, 04:51:11 PM

May I ask why isn't the buyback price higher?
We all invested crypto and all crypto has increased in value significantly + bcc + btg.

The token price was $0.09286 after the ICO.
The token value is calcualted as $0.09286 + ((total bankroll profit of eth, btc, ltc in $ at current exchange price) / 100,000,000)
Which is now $0.0966

A profit of $0.00374 per token

iluvbitcoins

legendary

Activity: 2198

Merit: 1150

Freedom&Honor

May I ask why isn't the buyback price higher?
We all invested crypto and all crypto has increased in value significantly + bcc + btg.

BetKing.io

legendary

Activity: 1400

Merit: 1021

Quote from: dooglus on December 03, 2017, 03:12:05 PM

I think I found a bug in the dice game.

I had a zero balance. Then I claimed the faucet. It gave me 500 satoshis.

I bet 100 satoshis at 2x and won. I immediately tried the same bet again and it told me my balance is too low to make that bet.

The balance shows as 0. If I refresh the page it shows 600. It showed 500 before I made the winning bet.

Here's a screenshot. The green text about winning is from the 1st bet. The red text about balance too low is later, from the 2nd attempted bet:

Thanks for the report. Will get this looked in to asap

dooglus

legendary

Activity: 2940

Merit: 1333

I think I found a bug in the dice game.

I had a zero balance. Then I claimed the faucet. It gave me 500 satoshis.

I bet 100 satoshis at 2x and won. I immediately tried the same bet again and it told me my balance is too low to make that bet.

The balance shows as 0. If I refresh the page it shows 600. It showed 500 before I made the winning bet.

Here's a screenshot. The green text about winning is from the 1st bet. The red text about balance too low is later, from the 2nd attempted bet:

Samarkand

sr. member

Activity: 658

Merit: 282

Quote from: BetKing.io on December 03, 2017, 12:04:09 PM

The first buy back date is in 7 hours. I'll be snapshotting the BKB and Bitcoin price (from bitfinex) at 12 am UTC and that will be what people can trade 10% of their BKB tokens at.

You must deposit BKB before that time and click the opt in to sell button in account page.

If you miss it you will need to wait until the next buy back date on 4th March 2018.

Do you have an estimate when Roulette will go live? The roadmap page at the following website is still
displaying an intended launch in the 3rd quarter of 2017:
https://betking.io/roadmap/

BetKing.io

legendary

Activity: 1400

Merit: 1021

The first buy back date is in 7 hours. I'll be snapshotting the BKB and Bitcoin price (from bitfinex) at 12 am UTC and that will be what people can trade 10% of their BKB tokens at.

You must deposit BKB before that time and click the opt in to sell button in account page.

If you miss it you will need to wait until the next buy back date on 4th March 2018.

lite

legendary

Activity: 1400

Merit: 1009

Quote from: BetKing.io on December 02, 2017, 12:14:37 PM

Quote from: lite on December 02, 2017, 11:50:09 AM

Quote from: Relax941 on December 02, 2017, 07:15:16 AM

Hi guys or Dean if you can answer me, so I have some BKB tokens (since the ICO) parked in betking.io website.

1. Does parking the tokens do anything for me like receiving % profit share or what benefit exactly for having or keeping the tokens? and 2.) Which exchange are we going to be listed next aside from HitBTC? and 3.) When will we have the coin market cap listing?

No you won't receive any profit share or dividends by holding bkb tokens. by holding bkb tokens, you're only entitled for buybacks. dean will buy 10% of your bkb tokens every quarter with the profit made by betking. first buyback is on december 4.
I think we don't need many exchanges, hitbtc is just fine. Wink

Have no idea! dean have you filled the coin listing form yet?

I have filled it in, twice Sad

I won't be trying again. They don't seem to want to list it. Maybe someone else can try?

I won't be listing BKB on any other exchanges.

We will be adding our own on site exchange in future.

On site exchange would be cool. i requested for listing, let's see if they add it. if anyone else wants to try here's the form(https://docs.google.com/forms/d/e/1FAIpQLSeqpM6DVuxNRJ43oD90fCsm8UltR9oIiFaVxxqt3ch_eJ5Dlw/viewform).

BetKing.io

legendary

Activity: 1400

Merit: 1021

Quote from: lite on December 02, 2017, 11:50:09 AM

Quote from: Relax941 on December 02, 2017, 07:15:16 AM

Hi guys or Dean if you can answer me, so I have some BKB tokens (since the ICO) parked in betking.io website.

1. Does parking the tokens do anything for me like receiving % profit share or what benefit exactly for having or keeping the tokens? and 2.) Which exchange are we going to be listed next aside from HitBTC? and 3.) When will we have the coin market cap listing?

No you won't receive any profit share or dividends by holding bkb tokens. by holding bkb tokens, you're only entitled for buybacks. dean will buy 10% of your bkb tokens every quarter with the profit made by betking. first buyback is on december 4.
I think we don't need many exchanges, hitbtc is just fine. Wink

Have no idea! dean have you filled the coin listing form yet?

I have filled it in, twice Sad

I won't be trying again. They don't seem to want to list it. Maybe someone else can try?

I won't be listing BKB on any other exchanges.

We will be adding our own on site exchange in future.

lite

legendary

Activity: 1400

Merit: 1009

Quote from: Relax941 on December 02, 2017, 07:15:16 AM

Hi guys or Dean if you can answer me, so I have some BKB tokens (since the ICO) parked in betking.io website.

1. Does parking the tokens do anything for me like receiving % profit share or what benefit exactly for having or keeping the tokens? and 2.) Which exchange are we going to be listed next aside from HitBTC? and 3.) When will we have the coin market cap listing?

No you won't receive any profit share or dividends by holding bkb tokens. by holding bkb tokens, you're only entitled for buybacks. dean will buy 10% of your bkb tokens every quarter with the profit made by betking. first buyback is on december 4.
I think we don't need many exchanges, hitbtc is just fine. Wink

Have no idea! dean have you filled the coin listing form yet?

Relax941

member

Activity: 88

Merit: 10

Hi guys or Dean if you can answer me, so I have some BKB tokens (since the ICO) parked in betking.io website.

1. Does parking the tokens do anything for me like receiving % profit share or what benefit exactly for having or keeping the tokens? and 2.) Which exchange are we going to be listed next aside from HitBTC? and 3.) When will we have the coin market cap listing?

lite

legendary

Activity: 1400

Merit: 1009

Quote from: PrimRock on December 01, 2017, 06:46:42 PM

you still have faucet ?

Yes, faucet is still there, it's not going anywhere. Wink

Quote from: Mamasita22 on December 02, 2017, 03:10:36 AM

Hey, do you have any promotion for new costumers ? maybe 100% dep bonus with 2x wager ?

100% deposit bonus with just 2x wager? regular casino have like 40x+ wagering requirement, you're expecting betking(a dice game) to have 2x wagering requirement? in future dean might run some promotions, but it sure won't be a 2x wagering requirement one.

Quote from: BetKing.io on December 01, 2017, 12:15:43 PM

Rakeback paid for november.
No refer a friend affiliate bonuses had reached min payout and will rollover to next month.

Here's a preview of the new design we should have launched before end of year with new games.

Homepage
https://i.imgur.com/P8QG0JY.png

Menu
https://i.imgur.com/x7eiJRV.png

Phone
https://i.imgur.com/kC0wnDh.png

Design is looking sexy. Wink

Mamasita22

full member

Activity: 213

Merit: 101

Hey, do you have any promotion for new costumers ? maybe 100% dep bonus with 2x wager ?

actmyname

copper member

Activity: 2562

Merit: 2510

Spear the bees

Quote from: PGPpfKkx on December 01, 2017, 06:49:03 PM

so in other words, if the site generates profit from the 4th december until the next buyback and the price of the current buyback is $1 there is no way that the next buyback is less than that not even if cryptomarket crashed by 80% did I get it right?

I like this more and more

it's like a hedge of just normal stock investing

The buyback price is unaffected by the market price on exchanges. The buyback price is calculated based on the initial funds raised during the ICO plus the profit of the site, distributed to each token.

That means you get a price of 0.09286 + profit / 100,000,000 dollars for each token. There's no variables that have to do with the market price.

PGPpfKkx

hero member

Activity: 586

Merit: 501

Quote from: DarkStar_ on December 01, 2017, 06:23:11 PM

Quote from: PGPpfKkx on December 01, 2017, 06:06:44 PM

Dean could you please explain something to me?

buyback has to do with the profitability of the site and irrelevant from the market? So the market can go down but if the site is profitable the next buyback will be same in $ terms while for example btc will be down? this is a unique coin and i am having difficulty understanding the mechanics. thanks

The open market is 100% unrelated to buybacks and the price of BKB, or BTC. If the site makes a profit, the price of the token, in fiat terms, goes up. The value is set by BetKing, and when a buyback happens, it will occur at the USD price. If BTC goes down, he'd still buyback at the listed price, and you'd get more BTC compared to if BTC went up.

The market is just for people who want to sell all of their holdings or a large portion.

so in other words, if the site generates profit from the 4th december until the next buyback and the price of the current buyback is $1 there is no way that the next buyback is less than that not even if cryptomarket crashed by 80% did I get it right?

I like this more and more

it's like a hedge of just normal stock investing

PrimRock

jr. member

Activity: 50

Merit: 1

you still have faucet ?

DarkStar_

legendary

Activity: 2772

Merit: 3284

Quote from: PGPpfKkx on December 01, 2017, 06:06:44 PM

Dean could you please explain something to me?

buyback has to do with the profitability of the site and irrelevant from the market? So the market can go down but if the site is profitable the next buyback will be same in $ terms while for example btc will be down? this is a unique coin and i am having difficulty understanding the mechanics. thanks

The open market is 100% unrelated to buybacks and the price of BKB, or BTC. If the site makes a profit, the price of the token, in fiat terms, goes up. The value is set by BetKing, and when a buyback happens, it will occur at the USD price. If BTC goes down, he'd still buyback at the listed price, and you'd get more BTC compared to if BTC went up.

The market is just for people who want to sell all of their holdings or a large portion.

Topic: BetKing.io - BKB token REFUNDS - $70k refunded so far - page 30. (Read 27684 times)