Topic: BetKing.io is a blatant scam operated by Dean Nolan - page 20. (Read 31064 times)

Most sites' terms say that terms can change. I'd be concerned if a crypto site didn't say that as nothing is proven and we are in uncharted territory. Makes it exciting times and luckily betking is surviving and bkt price rising due to better management and removing schemes that scammers took advantage of. Can't blame the scammers for getting upset.

@marlboroza

These are the relevant parts of BetKing's stance on buybacks.

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Thus, we can conclude that simply writing terms on the site does not guarantee that they are going to be in-effect for any predictable duration.

In this case, there isn't anything exactly stopping BetKing from changing up the structure again if they decide not to buyback the BKT tokens, is there?

It's either:

A) Buybacks were part of the original token terms and were removed subsequently
B) Buybacks were not part of the original token terms but were written on-site with no remark indicating removal thereof

Serial scammer Dean Nolan lied so much he has no idea about the list of his deceit any more  





If that is not a buy-back guarantee then what else could it be?

Serial scammer Dean Nolan will no doubt have more lies and excuses to add....

Please show me the data which shows this.
What expense is 12 million  
Did you buy a BetKing Bugatti?

That is not entirely true. Yes many people believed him and cut him some slack as you say but not all.

Most of the people that "sided" with serial scammer Dean Nolan during that period were employees that were getting paid in bounty because they were promoting betking and the 2017 ICO using avatars and signatures in this forum.

I recall clearly getting attacked in 2017 by his paid trolls when I was highlighting everything that was wrong with the ICO and the whole project itself.




The whole ICO was designed to ensure serial scammer Dean Nolan would be the only winner.

Before the ICO he tried to sell the betking website on multiple occasions but failed. The when he saw that ICOs were becoming the "in thing" he decided to to have the ICO but do you know what his motives were? He went for the ICO because he was unhappy with the bankroll investors getting a large share of any profit the site was making so in 2016 he returned all the bankroll to all the investors and then shut the website down announcing he would be back with an ICO.

Some 6 months later in mid 2017 he re-emerged with his ICO plans but everything in the ICO was constructed in a way to make him rich without a worry about investors. For example, these were the statistics for the final audit:

btc - 1,046.60623396 ($4,811,039.536)
eth - 4619.11055426 ($1,622,277.817)
ltc - 856.08369263 ($67,211.1307083813)

Total $ = 6,500,528.48
BKB Initial price = $0.09286

The distribuition was clear: 50% of all funds were to go to the bankroll and 50% of all funds were supposed to be used for "marketing, promotions, SEO, design development, server costs and legal". Simple so you thought but there was a huge catch and in order to scam, a scammer can work in various ways....

According to the audit +500 BTC, +2250 ETH and +425 LTC were supposed to be used for the bankroll and in identical terms +500 BTC, +2250 ETH and +425 LTC were supposed to be used for "marketing, promotions, SEO, design development, server costs and legal" so if he was going to siphon-off funds from the bankroll it would have been spotted immediately by investors therefore he diverted 2017 ICO funds that were supposed to be used for "marketing, promotions, SEO, design development, server costs and legal" to his own pockets.

Of the 100 million BKB tokens created, 70 million were sold off to the public and 30 million were retained by serial scammer Dean Nolan for "ICO bounties, testing bounties, advisors, hiring, future marketing and development". The 30 million remaining were not supposed to be part of the profit distribution but serial scammer added them to the calculation too therefore diluting the profit of the investors.

Keeping aside the 50% bankroll funds, after he exhausted all remaining funds (theft diverted to his own pockets and misuse on misadventure and failings because of incompetence) he decided to turn his attention to the bankroll funds. +500 BTC, +2250 ETH and +425 LTC equivalent was sitting there but the betking website was on the verge of collapse so he decided a new scam. He used the bankroll funds to cash-in all his BKB tokens but could only do it if he did the same for all investors thus leaving what very little chance betking had to survive as almost impossible.

In the end, he diverted large amounts of the 50% of raised funds which were to be used for "marketing, promotions, SEO, design development, server costs and legal" for his own pockets as there was no way it was spent on "marketing, promotions, SEO, design development, server costs and legal". Apart from plugin in games using livetable affiliates and a pre-2016 casino game he tweaked and re-released after withdrawing it, he never spent a single cent$ on 'design development'. He expects people to believe he spent +500 BTC, +2250 ETH and +425 LTC on "marketing, promotions, SEO, design development, server costs and legal"? That would have been over $3.25 million at the time. Even the most incompetent of business owners would have used just a few thousand USD$ to hire a few coders and create a new website from scratch but serial scammer Dean Nolan is as pathetic as they come.

Then let us turn to the matter of the 30 million BKB tokens that betking retained for "ICO bounties, testing bounties, advisors, hiring, future marketing and development". That was another get-rich-quick scheme for this serial scammer. He sold those tokens in the scam "bankroll funded buy-back scheme" and diverted the funds to himself.

He broke ICO promises by not fulfilling them. Not a single new game was introduced or created. He then misused funds due to sheer incompetence on so-called development that nobody ever saw the benefits of then did the ultimate betrayal with out-and-out theft by siphoning-off funds for his own back pocket.

This pathetic imbecile made millions for his own pockets by siphoning-off ICO funds all because he felt he could operate with impunity and make unilateral decisions and nobody would (or could) hold him to account.

He tried to close betking down in late 2018 and open his next scam "bifsafe exchange" which looks like a $50 off the shelf turnkey project, which he claimed was custom coded. He wanted to convert all BKB tokens to the bitsafe tokens and close betking down but as he was looking to raise (wait for it....) USD $10 million it was bound to fail.

After he had his tail between his legs and put his "bitsafe" idea back on the scrapheap he then scammed winners of the 2018 Christmas wager out of 20 BTC +EV by citing "cheating" that never ever took place. He miscalculated the odds and did not expect that many people to bet so he scammed winners because he did not want to pay out  

Then he went for the EOS tokens and created 10 billion BKT tokens. For some reason he unilaterally decided his value to the betking project was 10% of all BKT tokens so he kept 1 billion for himself. Of those 9 billion no doubt several hundreds of millions at the minimum will be diverted/siphoned-off for his own pockets through the "Awarded for promotions" loophole

Serial scammer Dean Nolan is alone to be blamed for the debacle and utter failure of the betking website.


AT NO POINT DID SERIAL SCAMMER DEAN NOLAN OFFICIALLY HAVE ANY OF THE 2017 ICO 100 MILLION BKB TOKENS CREATED ESPECIALLY FOR HIMSELF OR "THE TEAM"

THE ONLY WAY HE COULD HAVE OWNED ANY BKB TOKENS HIMSELF WAS IF HE ACTUALLY PURCHASED THEM EITHER PRE-ICO OR POST-ICO USING HIS OWN PERSONAL FUNDS JUST LIKE ANY OTHER INVESTORS WOULD DO SO HOW DID HE END UP MAKING MILLIONS OUT OF THE 2017 BETKING ICO WHILE THE WEBSITE ITSELF NEARLY COLLAPSED WHEN HE DID NOT SUPPOSEDLY RECEIVE ANY FREE BKB TOKENS?

SIPHONING-OFF FUNDS IS THE OBVIOUS ANSWER

It is not share of company:



New tokens are not pegged to dollars, which was original ICO deal, I mean, token swap wasn't part of the deal, but since betking decided to do swap, value of BKT which BKB token holder got should be the same as value of BKB tokens, I mean, 1BKB = 0.092$/whatever = 20/30/whatever BKT...


I am not sure why you are repeating "investors", while you clearly stated "token holders":



I'll just quote this again, seems betking missed it couple of times already:

Actually several investors have paid into betking - not the other way around - and now bkt is rising as scammers and their schemes are getting cleared out. The downside is some of these people are left feeling helpless and their only response is to claim the site is a scam. Sad.

It's weird that you consider that acceptable. It's almost like you don't understand how a casino works.  


BTW Can you give a straight answer to why you rolled everything back and didn't pay out the wager prizes? Or simply because it was cheaper than paying out?

You claimed the other day you were scammed of 2.5 btc.
In Telegram 15 mins ago you claimed it was $1000.

Either way, if you were scammed why have you been playing on the site for the past few weeks? You only started posting after I removed the tip feature.

And it was documented after the wager contest that ALL bets were rolled back and all players got their balances reset. No player lost any money. I did as some players withdrew winnings during the contest.

i wont be surprised to see him paying a few lowlifes to come back him up here. i dot give a fuck about the ico scams. i need him to thoroughly explain the Christmas wager contest where he lured so many people and scammed them of their hard-earned money. i watch many players loose hundreds of thousands of dollars trying to be number one. this guy need to be sued. i have seen him lure people  severally and then once they are in, he cuts of what he used to lure them. the lowlife is a gredy and brainless scammer. guys , dont stop exposing him. people need to be aware of these scams

I'm just going to ignore you now since you are clearly incapable of reading. There is no crypto left from the ICO as has been explained many, many times. Investors are very aware of it too.

I think you are best just keeping your nose out since you clearly don't know what you are talking about at all. You don't know how the business was run, you don't know how the business is now running and you don't know what investors know. Though you would if you were able to actually just read instead of keep repeating your bullshit.

You're being rather disingenuous. Just because the tokens were priced in USD, doesn't make the crypto magically disappear. 



You realize that applies to pretty much every single scam out there, right?


You're framing it like people are attacking you for losing money. But the truth is that you structured the ICO to give you exposure to bitcoin price. You were happy reaping the profits when it worked in your favor netting you significant amounts of money, and then renegged as soon as it worked against you.

That's what makes it a scam, and you a scammer.

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BTW I dare you to stop all the nonsense deflection and try give a straight answer to something like this: https://bitcointalksearch.org/topic/m.51398067

all i see is a crypto dice owner who knows crypto gambling inside n out


he happen to see the ICO craze.

1) dean got in at the worse possible time, when ETH was crashing and ico's buzz was wearing off

2) dean had no clue how to start and run iCO correctly( should have stuck to day job)

3) dean fucked up on the ICO. but it was not intentional.

4) the backlash was so big something he didn' think would happen. and has responded incorrectly.


5) i been gambling since 2013, hung out with the biggest whales in dice , all of them bet HUGE at dean's site
and not one of them ever was scammed by dean. some of you were not here in 2013-2014.
it was crazy crazy times in crypto world . alot of dice sites were just scams

then there were the big "3" dice sites back then, primedice just-dice and pocketrocket casino(betking)


dooglus, stunna, and dean were the most honest ones in the game



this is a one time post i'm not to argue with a mob who will never look on all sides of a issue.


dean fucked up on the ico. he wasn't trying to scam people. he just didnt know what he was doing.

plus dean is right, where are investors at. all i see are 2-3 trolls and RHavar(who i have much respect for) who invested nothing in ico and bully dean everyday


dean is an excellent dice site owner and i trust depositing and leaving balance in there for weeks.

deans been at this 6+ years. show me any whales who got scammed from dean from gambling at his site. i can't find any

You could have just read my reply a few pages back that showed you exactly how to calculate your token value, where you said you invested 0.5 btc.
Your 0.5 would be worth $613 right now. An increase since I posted due to us buying back tokens with the site profit.

But everyone just wants to ignore that and also prefers to speculate instead of listening to any facts I post.
Also, it was stated very clearly, even in the posts you reference, that the tokens were denominated in $ so no idea where you think there was an extra $12 million.
So how much more should it be now that Bitcoin is 1/3 of the price it was in dec 2017? No one seems to mention that.
How would there be an extra $12 million when 600 bitcoin of the original ICO funds were returned to investors from dec 2017 to dec 2018?
How would there be an extra $12 million available after all the expenses we had?

I mean you didn't even know that we dont have bet mining now and burned 50% of all bkt?
Keep up at least before posting.

The problem people like you and jollygood etc have caused is that now not all information is shared as freely because people just use it against us anyway.
Everyone who bought more than 50,000 BKB in the original ICO was emailed a pdf a few weeks ago detailing everything that has happened since the ico and possible future plans.
They also got a link to private Telegram group to discuss what's happened and what to do next.

None of them who have joined think it's a scam and that represents a huge % of the remaining $/tokens that were not bought back yet.
But all the people who had smaller amounts shouting scam because they can't read didn't get it because they would be more likely to just shout scam again and post all our plans in the forum which competitors could see.

I'll stress again, as fact, no one has lost any money (unless you chose to sell at a loss). There is no scam (if you bought stock and it dropped 60% is that a scam? If you bought btc at $20,000 and it dropped to $8000 is that a scam?)

Instead of running to post and speculating nonsense with idiots on this forum it was an infinitely better idea to chat directly with me, you know the only person that can tell you 100% of the facts.

So anyone who done that is now left in the dark and will just need to wait until token price increases to a price they wish to sell (if they sell at a loss it's their choice) while me and the vast majority of investors decide BetKings next steps.

this are all very valid points dean is a real and annoying scammer with the worst character.
i am a  victim of the christmas wager scam. i lost so much wagering. fuck dean. i wish him the worst thing in life dean fuck u scammer

That would be some 0.24BTC at the current price, so your stats would look like this:

Investment: 3BTC
Total value: 0.24BTC
Total loss: - 2.76BTC (-92%)

Investment: 13790.4$
Total value: 1896.96$
Total loss: - 11893,44$ (-86.24%)




Which exchange did you use for these prices?

I was doing BKB -> BTC conversions as that was what you got when Dean was still doing token buybacks with the BKB token.

If the buyback continued until the 4th, you would have gotten the result outlined at the bottom of table 2. The part AFTER the tables is if you had kept the BKB as-is and never participated in any buybacks until after the BKT transfer.

http://web.archive.org/web/20170903041628/https://betking.io/


You are getting USD denominated bankroll profit.
If there is an extra 12 million$ in the bankroll, doesn't that constitute as profit?

Above you have the website of the ICO.
From it, you can honestly assume if BTC grows, the money remains in the bankroll, since it is stated that it is the intended use of the Betking Bankroll token.


This is everything where the so called USD peg is mentioned.

Find the part which can explain how a 12 million $ extra in the bankroll is not profit.
Or try to find anything else on the website that can support the claim.

You can find the bitcointalk thread here as well.
http://web.archive.org/web/20170629091501/https://bitcointalk.org/index.php?topic=1842538.0

And the company made 12 million dollars.

No. You own a "share" of BetKing (the company) and not the bankroll.