He also bought a poker software by Cubeia, but unfortunately poker didn´t really take off due
to a lack of players (poker has been removed if anyone is looking for it on the BetKing website).
I obviously can´t prove that 50 % of the ICO funds ended up in the bankroll. But as I already outlined in
a previous post I can make an educated guess based on the available max win of
10 BTC.
Thank you for your comments.
Those plugins can be purchased for a few hundred US$ so he cannot justify having the ICO. Later adding Livetable affiliate and Sportsbook plugins without actually developing his own software by paying developers from the ICO funds was a breach of the ICO whitepaper. He scammed investors.
The ICO was carried in order for him to claim as much of the funds for his pocket under the guise of "development". Dean Nolan did this because he wanted money, he tried but failed to sell the Betking website because nobody wanted it therefore he had the ICO. No development took place, he launched the same website post-ICO in 2017 that he took down pre-ICO in 2016.
I have no intention of buying any BKB tokens and I agree with some of your claims.
My McDonalds comment was just a joke, I obviously know that you are not going to buy
any tokens.
This is the cryptocurrency world. You aren´t going to see an audit from Bitfinex and you are also
not going to see one from Dean. Most investors were just disappointed that they missed out
on the 2017 bull run, but you can´t really blame Dean for the fact that the site isn´t
doing as much betting volume as it used to. Back in the day it had the biggest limits and
a lot of action and nowadays there are just too many competitors. Sites like Stake and Bustadice
weren´t even around when BetKing was in its prime.
The whole ICO project was designed to make Dean Nolan rich off the back of investors regardless of what happens to them. It was flawed from the start but the way Dean Nolan was promoting the ICO it was clear investors would fall for it. You might be right, once upon a time maybe Betking was "big". It was running long before latter competitors such as STAKE, PRIMEDICE and others basically left it for dead but Dean Nolan has never actually followed through with evidence on his ICO promises. For Dean Nolan to say investors are to blame for almost losing all their investment was because of their lack of "due-diligence" was just another slap in the face for those that parted with cash. When this was highlighted Dean Nolan quickly deleted the post, as was expected.
- what is the cold wallet address where the 50% ICO funds were to be kept
- where is the expenditure list of the 30 million not-for-distribution BKB tokens
- why was Dean Nolan using those 30 million tokens to deduct profits from when it was not supposed to happen
- what were the buyback dates and rates so a profit/loss margin of investors could be calculated
- where is the accountability in milestones where development was made and where are the cost reports
I accept your comments about the audit, this is indeed crypto world so these companies will try to keep things secret as much as possible. Dean Nolan has scammed ICO investors, simple. This Reddit post from
chazley makes interesting reading because it is from the time of ICO and shows the mindset Dean Nolan had:
https://www.reddit.com/r/Bitcoin/comments/5gfdxk/betking_trying_to_censor_questions_about_ico/