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Topic: BitDice Robbed Investors? CSNO lost 80% value - page 7. (Read 3235 times)

legendary
Activity: 2198
Merit: 1014
Bitdice is scam scam scammmmmmmmmmmmmmmmmmmmmmmmmm
I am posting this answer on behalf of the management:



This answer to several ignorant allegations is going to be solitary and final. Please be acknowledged that further communications will be held solely in the form of quarterly reports.

To begin with, as it has been clearly stated before, CSNO is a dividend token. That means the token holder is entitled to receive a share of Casino's profit. That's it, period.

Nevertheless, to dispel the unfounded accusations, please see below.

The initial price has been $8.4m/100m tokens = $0.084 per token.

With the buyback program running on the website, one can instantly sell CSNO approximately at 50% of the ICO price.

Sure enough, it is a remarkable upshot taking into consideration more than two years passed since tokens were issued.

Should one decide to dig deeper into BitDice financial matters, they are very welcomed to scrutinize the Quarterly reports, which are published on Medium.

As for the BitDice development pace,  the team admits that the buildout period has been significantly more than it has been initially planned and announced.

Due to business nature, it was hard to predict all the obstacles that had arisen. It's almost impossible to open a bank account for crypto-related companies in the EU, not to mention gambling as business activity. As an example, attempts to fix an agreement with Wirecard related to fiat payments processing took almost a year and finally ended in vain due to circumstances that were out of the team's control.

Moreover, at one point it has been decided to cease certain activities until the launch of the new website, which is currently under the final stage of development.



Thanks for confirming that all I wrote is true
Basically you spent ~$500k investors money to not open bank account, that's all what you done after ICO.
In my opinion you can develop/upgrade site without bank account Smiley

Support flag on Bitdice | Boxxob
legendary
Activity: 2018
Merit: 1108
I am posting this answer on behalf of the management:



This answer to several ignorant allegations is going to be solitary and final. Please be acknowledged that further communications will be held solely in the form of quarterly reports.

To begin with, as it has been clearly stated before, CSNO is a dividend token. That means the token holder is entitled to receive a share of Casino's profit. That's it, period.

Nevertheless, to dispel the unfounded accusations, please see below.

The initial price has been $8.4m/100m tokens = $0.084 per token.

With the buyback program running on the website, one can instantly sell CSNO approximately at 50% of the ICO price.

Sure enough, it is a remarkable upshot taking into consideration more than two years passed since tokens were issued.

Should one decide to dig deeper into BitDice financial matters, they are very welcomed to scrutinize the Quarterly reports, which are published on Medium.

As for the BitDice development pace,  the team admits that the buildout period has been significantly more than it has been initially planned and announced.

Due to business nature, it was hard to predict all the obstacles that had arisen. It's almost impossible to open a bank account for crypto-related companies in the EU, not to mention gambling as business activity. As an example, attempts to fix an agreement with Wirecard related to fiat payments processing took almost a year and finally ended in vain due to circumstances that were out of the team's control.

Moreover, at one point it has been decided to cease certain activities until the launch of the new website, which is currently under the final stage of development.


legendary
Activity: 2744
Merit: 1288
What I do not understand, if the invested USD 10 million are still there why did the CSNO tokens lose USD 8 million?

Man. What are you doing on this forum? Dont you read it to educate how prices gets set?  Price of not just tokens and coins, but also apples and plums and potato and oil is set on a market.  Buyers and sellers set it. Demand and supply. To get price someone have to sell it and someone has to buy it.  It have nothing to do how much something is worth.  If you have  a lot of money you can move price up or down as it pleases you.


If suddenly CSNO price increases for 1000 times, that dont mean BitDice will have 1000 times more founds collected 2 years ago. They will still have same.
legendary
Activity: 2018
Merit: 1108
I've not received any reason behind those threads being locked. It was not done by us.

EDIT: I just got info that a response from the higher ups is going to be prepared to this thread
legendary
Activity: 2198
Merit: 1014
Bitdice is scam scam scammmmmmmmmmmmmmmmmmmmmmmmmm
I have not looked at the white paper of the ICO or anything to do with the ICO, so I'd like to play the part of a person who did no research to this point but has questions.

10 million dollars was collected correct?

Was the money collected in fiat, btc, or eth, or other alts?

What was the value of said currencies at the time of collecting for the ICO?

If cryptocurrencies were accepted to buy tokens, did Alex keep the money in cryptos? Fiat conversion?

If he kept it in cryptocurrencies when the price of crypto rose, why didnt the value of the tokens held by investors?

What about forked coins? Was any claimed? Did that value go to investors?

Some of these questions obviously are irrelevant if ICO funds were converted to fiat.

Would like to see the answers to these questions though.



Money was collected in the following currencies and converted in USD equivalent at the time of purchase:
ICO collected:
BTC: 3231.8
ETH: 222.56
IOTA: 0.44717
LTC: 45.1
DOGE: 0.0009

9 885 962.231755212 = Total amount of USD raised with bonuses
Raised crypto is now worth = 31,240,000

How CSNO price was determined = Proceeds from ICO (in USD) / 100,000,000 tokens

40% of investment should be kept as Bankroll in crypto currencies (should be worth $12500000 now) and at least 2,500,000$ is dedicated to development and legal costs


Quote from: whitepaper
9 885 962.231755212 = Total amount of USD raised with bonuses
All the proceeds from this public contribution will be used for business
expansion only.

Roadmap in the whitepaper is same as on image in first post and they failed to deliver most of their promises.

Update: Signature Campaign and Official Thread are locked. (https://bitcointalksearch.org/topic/bitdice-casino-signature-campaign-will-start-1-december-1697546  - https://bitcointalksearch.org/topic/bitdiceme-crypto-casino-now-accepting-eos-roll-hunt-bonuses-1700658)
legendary
Activity: 2018
Merit: 1108
The issue is that the token price is not tied to the amount invested other than the fact that it determined the initial price per token at the time of the sale.
What a nonsense!

The initial token price is determined by the total invested amount.

For example: USD 10 million collected and 10 million CSNO tokens issued = token price USD 1.

After the collected USD 10 million are invested, the token price is basically determined by USD 10 million - losses + profits : 10 million tokens

Examples

1) If the USD 10 million investment lead to a USD 2 million net profit, then the token price is USD 12 million : 10 million tokens = USD 1,20 per token.

2) If the USD 10 million investment lead to a USD 3 million net loss, then the token price is USD 7 million : 10 million tokens = USD 0,70 per token.

  
It was never supposed to be, it's a dividend token which means token holders are and will be entitled to a part of the site profit, that's it.
Whoaat?

Did you just say that investors initially lost its investment and the CSNO fantasy tokens are only entitled to receive dividends or losses and do not represent any share of the Bitdice.me operation?

You're the one spilling nonsense here. It's a dividend token. Token holders are paid dividends from profits to the ethereum addresses they hold their CSNO in. You don't realize your profits by selling the tokens. That's not how a dividend token works.

CSNO token is NOT a share.

EDIT: May I add, markets determine the price of the CSNO tokens on the exchanges it's being traded on. Thus if BitDice performs well, obviously the token price can reflect that but you can't calculate the token price by how much bitdice has profited or lost. Not sure where that idea even came from...

EDIT2:

It says in the whitepaper: "BitDice Casino is issuing  100 000 000 (one hundred million)  CSNO tokens,  70%  of which will be offered to the public and entitle for  70% of BitDice Casino’s net profit."

That 70% of BitDice's net profit is shared each quarter based on that specific quarter's performance.
hero member
Activity: 1344
Merit: 507
The issue is that the token price is not tied to the amount invested other than the fact that it determined the initial price per token at the time of the sale.
What a nonsense!

The initial token price is determined by the total invested amount.

For example: USD 10 million collected and 10 million CSNO tokens issued = token price USD 1.

After the collected USD 10 million are invested, the token price is basically determined by USD 10 million - losses + profits : 10 million tokens

Examples

1) If the USD 10 million investment lead to a USD 2 million net profit, then the token price is USD 12 million : 10 million tokens = USD 1,20 per token.

2) If the USD 10 million investment lead to a USD 3 million net loss, then the token price is USD 7 million : 10 million tokens = USD 0,70 per token.

  
It was never supposed to be, it's a dividend token which means token holders are and will be entitled to a part of the site profit, that's it.
Whoaat?

Did you just say that investors initially lost its investment and the CSNO fantasy tokens are only entitled to receive dividends or losses and do not represent any share of the Bitdice.me operation?
legendary
Activity: 2018
Merit: 1108
I have not looked at the white paper of the ICO or anything to do with the ICO, so I'd like to play the part of a person who did no research to this point but has questions.

10 million dollars was collected correct?

Was the money collected in fiat, btc, or eth, or other alts?

What was the value of said currencies at the time of collecting for the ICO?

If cryptocurrencies were accepted to buy tokens, did Alex keep the money in cryptos? Fiat conversion?

If he kept it in cryptocurrencies when the price of crypto rose, why didnt the value of the tokens held by investors?

What about forked coins? Was any claimed? Did that value go to investors?

Some of these questions obviously are irrelevant if ICO funds were converted to fiat.

Would like to see the answers to these questions though.



Money was collected in BTC, ETH and some other alts. I think the total amount was somewhere between 8.5 and 10 million.

A part of the cryptocurrencies was sold for fiat and rest was was kept in cryptos. I believe something like 4 million was converted into fiat according to the quarterly reports.

I haven't heard of any forked coins being claimed.

The issue is that the token price is not tied to the amount invested other than the fact that it determined the initial price per token at the time of the sale. It was never supposed to be, it's a dividend token which means token holders are and will be entitled to a part of the site profit, that's it. Of course the fact that BitDice is still working on those promises and which is also holding back things like marketing, the returns for investors so far haven't been so good but investors are still entitled to the same exact things they were entitled to after the ICO.

I would personally just hope for patience while the new site is being finished. I know it's late but BitDice hasn't lost it's future potential despite the new website and promises being fulfilled late.
legendary
Activity: 2018
Merit: 1108
This speculation is just that... speculation and I doubt it's going to change until there's a new release. Of course this is my personal opinion so feel free to disagree. As I've mentioned in multiple occasions, nobody is hiding the fact that there's been delays.
Excuse me, but how is investor complaining that you didn't deliver something which you supposed to deliver in 2017/2018 (2 years ago) speculation?

I find it pretty silly to call the site a scam while things are being worked on. Right now it feels more like pressuring the site to rush out a release just for the sake of it.
So you invest in something and they say they will do something in 2017., you complain in 2020. that they still didn't do it, and you call that a silly accusation, pressuring someone Huh

Yes, I believe it's silly to accuse of being a scam when a response has been given about how the things that the complaint is about are being worked on. Scam would be if there was no effort being put into anything and everything is simply being left as it is. Then again, maybe my definition of a scam is different than yours.
This sound like very bad  excuse.

Why bitdice didn't add games to site when they said they will?

They ran ICO, took money, so what happened to games then?

BitDice hasn't added all of those games yet but that doesn't mean it won't happen in the future. The new site is the priority at the moment and on the new site those features will be added. Yes, it's delayed as I've said but that doesn't mean the promises were just swept under the rug.
legendary
Activity: 3808
Merit: 4603
Contact @yahoo62278 on telegram for marketing
I have not looked at the white paper of the ICO or anything to do with the ICO, so I'd like to play the part of a person who did no research to this point but has questions.

10 million dollars was collected correct?

Was the money collected in fiat, btc, or eth, or other alts?

What was the value of said currencies at the time of collecting for the ICO?

If cryptocurrencies were accepted to buy tokens, did Alex keep the money in cryptos? Fiat conversion?

If he kept it in cryptocurrencies when the price of crypto rose, why didnt the value of the tokens held by investors?

What about forked coins? Was any claimed? Did that value go to investors?

Some of these questions obviously are irrelevant if ICO funds were converted to fiat.

Would like to see the answers to these questions though.

hero member
Activity: 1344
Merit: 507
I never thought Alex is the kind of guy that gets people to develop for him. And if it is like I think being a lonely dev must be hard and slow work, I would hate having to let others see code of the site.
If Alex is a lonely and slow working dev, then he knew that he is not able to fulfill the roadmap connected to the investments and intentionally misleaded and deceived the investors and is liable for the damage caused!
legendary
Activity: 2366
Merit: 1048
To add new games takes maximal few months if you have the money to pay the developers.

It is also not like you have to develop new games from the scratch. Most games already exist and can be easily added.

In case of Bitdice it is clear that the administration intentionally did not use the collected investment funds for the promised purpose and investors can demand the full amont of its investment back!


I never thought Alex is the kind of guy that gets people to develop for him. And if it is like I think being a lonely dev must be hard and slow work, I would hate having to let others see code of the site.
hero member
Activity: 1344
Merit: 507
To add new games takes maximal few months if you have the money to pay the developers.

It is also not like you have to develop new games from the scratch. Most games already exist and can be easily added.

In case of Bitdice it is clear that the administration intentionally did not use the collected investment funds for the promised purpose and investors can demand the full amont of its investment back!

legendary
Activity: 2366
Merit: 1048
What I do not understand, if the invested USD 10 million are still there why did the CSNO tokens lose USD 8 million?

If the invested USD 10 million are still there, then the value of the CSNO tokens should be USD 10 million, because the value of the CSNO tokens is at least the remaining sum of the invested amount.
IF that's an actual question then... He didn't put the 10 million as buy wall for the token obviously.
I don't really understand why any crypto believer would hold fiat anyhow, could of keept part in crypto.
I'm not saying im fully satisfied with how the situation looks but I don't think anyone got scammed/iscompromised/promiseswontbekeept

It's been proven thru the years that development isn't a easy thing.
hero member
Activity: 1344
Merit: 507
What I do not understand, if the invested USD 10 million are still there why did the CSNO tokens lose USD 8 million?

If the invested USD 10 million are still there, then the value of the CSNO tokens should be USD 10 million, because the CSNO tokens represent the value of the invested amount + casino profits - casino losses.
legendary
Activity: 2366
Merit: 1048
I'm quoting you "deliver in 2017/2018 (2 years ago)"
The small update to the site coincides with the promise.
The slott games been added quite often and there is a huge amount of them now.
There are new games.
and currencies
and minor updates
and a going on bigger update

While I didn't follow the ICO I did spend a bunch of time in the chat.
You are the only user that come and generates FUD for some unknown reason.

On a side note, that new rating looks great, next time inform yourself before following a false flag or let me know when you investigated enough.
Might leave it since I see that persistence might be paid by competency.

You cannot lie to me because I seen how the site updated thru the years, If I'm something that thing is a gambler.

I see you keep editing your post, the update isn't irrelevant it was the only thing you had against the site excluding the funding which is still there.
Not like you got many ways to promote a casino. These bumps, someone might thank you for them.


when people doesn't want to hear you can do anything and they will keep repeating the lies till they believe them themselves
one can only sell a product that one believes in.

Please read Whitepaper and ICO infographic.
Those 10 slot games they added in 2018 are drop in the sea.
If I didn't miss count I just count 160 slot machine games.

excluding slots which i don't pay much attention to now there are sports betting too.
On a side note bit aces is quite great.

Cool. Do you enjoy playing their Live Dealer games?
I like bit aces and satoshis secret, anyhow from previous irl experiences I try to stay away from slotts.

How about BitDice own Baccart game that they promised to add in Q3-2018 or Bitdice Video Poker or Plinko all promised to be delivered 2 years ago?

https://imgur.com/a/32Lf8cK
countless video poker

no plinko, I has my plinko site tho and I doubt anyone can make a better one.

might of missed the "own" part but not certain since the no commission one.
legendary
Activity: 2198
Merit: 1014
Bitdice is scam scam scammmmmmmmmmmmmmmmmmmmmmmmmm
I'm quoting you "deliver in 2017/2018 (2 years ago)"
The small update to the site coincides with the promise.
The slott games been added quite often and there is a huge amount of them now.
There are new games.
and currencies
and minor updates
and a going on bigger update

While I didn't follow the ICO I did spend a bunch of time in the chat.
You are the only user that come and generates FUD for some unknown reason.

On a side note, that new rating looks great, next time inform yourself before following a false flag or let me know when you investigated enough.
Might leave it since I see that persistence might be paid by competency.

You cannot lie to me because I seen how the site updated thru the years, If I'm something that thing is a gambler.

I see you keep editing your post, the update isn't irrelevant it was the only thing you had against the site excluding the funding which is still there.
Not like you got many ways to promote a casino. These bumps, someone might thank you for them.


when people doesn't want to hear you can do anything and they will keep repeating the lies till they believe them themselves
one can only sell a product that one believes in.

Please read Whitepaper and ICO infographic.
Those 10 slot games they added in 2018 are drop in the sea.
If I didn't miss count I just count 160 slot machine games.

excluding slots which i don't pay much attention to now there are sports betting too.
On a side note bit aces is quite great.

Cool. Do you enjoy playing their Live Dealer games?
I like bit aces and satoshis secret, anyhow from previous irl experiences I try to stay away from slotts.

How about BitDice own Baccart game that they promised to add in Q3-2018 or Bitdice Video Poker or Plinko all promised to be delivered 2 years ago?
legendary
Activity: 2366
Merit: 1048
I'm quoting you "deliver in 2017/2018 (2 years ago)"
The small update to the site coincides with the promise.
The slott games been added quite often and there is a huge amount of them now.
There are new games.
and currencies
and minor updates
and a going on bigger update

While I didn't follow the ICO I did spend a bunch of time in the chat.
You are the only user that come and generates FUD for some unknown reason.

On a side note, that new rating looks great, next time inform yourself before following a false flag or let me know when you investigated enough.
Might leave it since I see that persistence might be paid by competency.

You cannot lie to me because I seen how the site updated thru the years, If I'm something that thing is a gambler.

I see you keep editing your post, the update isn't irrelevant it was the only thing you had against the site excluding the funding which is still there.
Not like you got many ways to promote a casino. These bumps, someone might thank you for them.


when people doesn't want to hear you can do anything and they will keep repeating the lies till they believe them themselves
one can only sell a product that one believes in.

Please read Whitepaper and ICO infographic.
Those 10 slot games they added in 2018 are drop in the sea.
If I didn't miss count I just count 160 slot machine games.

excluding slots which i don't pay much attention to now there are sports betting too.
On a side note bit aces is quite great.

Cool. Do you enjoy playing their Live Dealer games?
I like bit aces and satoshis secret, anyhow from previous irl experiences I try to stay away from slotts.
legendary
Activity: 2198
Merit: 1014
Bitdice is scam scam scammmmmmmmmmmmmmmmmmmmmmmmmm
I'm quoting you "deliver in 2017/2018 (2 years ago)"
The small update to the site coincides with the promise.
The slott games been added quite often and there is a huge amount of them now.
There are new games.
and currencies
and minor updates
and a going on bigger update

While I didn't follow the ICO I did spend a bunch of time in the chat.
You are the only user that come and generates FUD for some unknown reason.

On a side note, that new rating looks great, next time inform yourself before following a false flag or let me know when you investigated enough.
Might leave it since I see that persistence might be paid by competency.

You cannot lie to me because I seen how the site updated thru the years, If I'm something that thing is a gambler.

I see you keep editing your post, the update isn't irrelevant it was the only thing you had against the site excluding the funding which is still there.
Not like you got many ways to promote a casino. These bumps, someone might thank you for them.


when people doesn't want to hear you can do anything and they will keep repeating the lies till they believe them themselves
one can only sell a product that one believes in.

Please read Whitepaper and ICO infographic.
Those 10 slot games they added in 2018 are drop in the sea.
If I didn't miss count I just count 160 slot machine games.

excluding slots which i don't pay much attention to now there are sports betting too.
On a side note bit aces is quite great.

Cool. Do you enjoy playing their Live Dealer games?
legendary
Activity: 2366
Merit: 1048
I'm quoting you "deliver in 2017/2018 (2 years ago)"
The small update to the site coincides with the promise.
The slott games been added quite often and there is a huge amount of them now.
There are new games.
and currencies
and minor updates
and a going on bigger update

While I didn't follow the ICO I did spend a bunch of time in the chat.
You are the only user that come and generates FUD for some unknown reason.

On a side note, that new rating looks great, next time inform yourself before following a false flag or let me know when you investigated enough.
Might leave it since I see that persistence might be paid by competency.

You cannot lie to me because I seen how the site updated thru the years, If I'm something that thing is a gambler.

I see you keep editing your post, the update isn't irrelevant it was the only thing you had against the site excluding the funding which is still there.
Not like you got many ways to promote a casino. These bumps, someone might thank you for them.


when people doesn't want to hear you can do anything and they will keep repeating the lies till they believe them themselves
one can only sell a product that one believes in.

Please read Whitepaper and ICO infographic.
Those 10 slot games they added in 2018 are drop in the sea.
If I didn't miss count I just count 160 slot machine games. How many should there be/been before?

excluding slots which i don't pay much attention to now there are sports betting too.
On a side note bit aces is quite great.
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