Can someone explain the trend of bitcoin casinos creating altcoins ? - page 4.

Bitcoinsummoner

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Quote from: BlockEye on July 14, 2017, 03:46:56 AM

Quote from: ralle14 on July 14, 2017, 02:27:33 AM

Quote from: NorrisK on July 13, 2017, 04:04:28 PM

I guess the main reason is to be able to pay rakeback or loss back or affiliate rewards without actually spending money.

It's pretty smart acutally, especially if they do a profit share based on how many of their tokens you hold.

They could still pay those even without tokens or altcoins by lowering the investors profit like what cg did to their investments.
Maybe dean doesn't want to hold the investor's bitcoin anymore so he won't have any problems incase something bad happens to him.

Token is the best to distribute easily the share of a casino, It can be also sold in the market that made the pull out of shares easily.Adaptation of Altcoin token by casino is very good and wise idea on easy profit sharing, Anyone can participate on investment even on small amount of money.

This is another way of any casino just to promote the ICO altcoins that can distribute easily..
That was another way i think that can push the value of the coin fast..
Look at almost post new thread and updates every day almost ICO and altcoins thread flood daily in altcoin section every minute there are new posted about altcoin and i think altcoin is more active than bitcoin these days and casino is one of their first target to start ICO trend..

Oilacris

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Quote from: iv4n on July 13, 2017, 03:49:17 PM

Do you think about DAO and BetKing? Many people are interested in this, or they just spamming to get tokens from bounties. My facebook page is full with people that advertise this two ICO`s, and many others of course.
BetKing was a good site, I even participated in their signature campaign a long time ago. Dean is honest guy, he had many chances to run away with big money, but he always return funds if something is not right. He is a guy worth to be followed, and as I saw that he is making a much better casino, with more games, I saw plans for poker and sports book, all that looks very nice.

He probably mean about that 2 sites since it's the only one who do make ICO as of now and do have its own token and I do agree on what you have said about dean. I'm once a player on the site and I know the transparency and credibility of the site the same on its owner and there's nothing wrong if they would create their own token as long it can be exchange to btc then it won't really be a big problem.

BlockEye

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Quote from: ralle14 on July 14, 2017, 02:27:33 AM

Quote from: NorrisK on July 13, 2017, 04:04:28 PM

I guess the main reason is to be able to pay rakeback or loss back or affiliate rewards without actually spending money.

It's pretty smart acutally, especially if they do a profit share based on how many of their tokens you hold.

They could still pay those even without tokens or altcoins by lowering the investors profit like what cg did to their investments.
Maybe dean doesn't want to hold the investor's bitcoin anymore so he won't have any problems incase something bad happens to him.

Token is the best to distribute easily the share of a casino, It can be also sold in the market that made the pull out of shares easily.Adaptation of Altcoin token by casino is very good and wise idea on easy profit sharing, Anyone can participate on investment even on small amount of money.

ralle14

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Quote from: NorrisK on July 13, 2017, 04:04:28 PM

I guess the main reason is to be able to pay rakeback or loss back or affiliate rewards without actually spending money.

It's pretty smart acutally, especially if they do a profit share based on how many of their tokens you hold.

They could still pay those even without tokens or altcoins by lowering the investors profit like what cg did to their investments.
Maybe dean doesn't want to hold the investor's bitcoin anymore so he won't have any problems incase something bad happens to him.

LuanX3

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Quote from: BitcoinSupremo on July 14, 2017, 01:17:15 AM

Quote from: erpbridge on July 13, 2017, 03:22:46 PM

Till date all the casinos which have wanted to raise money or have an invest feature used to do it by launching a casino accepting investments in bitcoins and charging a commission on bets.

But now I see casinos like creating an altcoin, accepting investments and issuing tokens to be traded on an exchange and keeping all the money raised upfront in the ICO.

Isn't that scammy ? Why can't they just accept bitcoins as regular investments ?

Great casinos which accepts investments are still accepting them in bitcoin. I am talking about Cryptogames , this is one of the oldest standing casinos here in the forum and they still continue to accept investments in bitcoin, minimum 0.01 bitcoin to invest if I remember it correctly. They just need to add a few more games as they have very few games compared with other casinos.

Not even sure why you brought up cryptogames here. The OP is not questioning every casino that accept investments, not all of them create their own coins. He is wondering why new casinos (and probably some old ones) are creating altcoins for their casinos and consider it as their investment method to the casinos bank roll.

BitcoinSupremo

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Quote from: erpbridge on July 13, 2017, 03:22:46 PM

Till date all the casinos which have wanted to raise money or have an invest feature used to do it by launching a casino accepting investments in bitcoins and charging a commission on bets.

But now I see casinos like creating an altcoin, accepting investments and issuing tokens to be traded on an exchange and keeping all the money raised upfront in the ICO.

Isn't that scammy ? Why can't they just accept bitcoins as regular investments ?

Great casinos which accepts investments are still accepting them in bitcoin. I am talking about Cryptogames , this is one of the oldest standing casinos here in the forum and they still continue to accept investments in bitcoin, minimum 0.01 bitcoin to invest if I remember it correctly. They just need to add a few more games as they have very few games compared with other casinos.

LuanX3

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Quote from: erpbridge on July 13, 2017, 03:22:46 PM

Till date all the casinos which have wanted to raise money or have an invest feature used to do it by launching a casino accepting investments in bitcoins and charging a commission on bets.

But now I see casinos like creating an altcoin, accepting investments and issuing tokens to be traded on an exchange and keeping all the money raised upfront in the ICO.

Isn't that scammy ? Why can't they just accept bitcoins as regular investments ?

I guess, well there are a lot of shitty coins anyway. They are adding more to it. The coins don't really convert to parts of the casino, like how stocks work on corporation. So I don't know why they are offering coins as a way to raise funds. The coins don't mean anything but coins that we trade on the exchanges. It will not be equivalent to any assets of the casino.

erpbridge

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Quote from: iv4n on July 13, 2017, 03:49:17 PM

Do you think about DAO and BetKing? Many people are interested in this, or they just spamming to get tokens from bounties. My facebook page is full with people that advertise this two ICO`s, and many others of course.
BetKing was a good site, I even participated in their signature campaign a long time ago. Dean is honest guy, he had many chances to run away with big money, but he always return funds if something is not right. He is a guy worth to be followed, and as I saw that he is making a much better casino, with more games, I saw plans for poker and sports book, all that looks very nice.

Yes these are examples I am talking about. Yeah plans and all look good but why not just accept investments the usual way ?

Quote from: NorrisK on July 13, 2017, 04:04:28 PM

It's pretty smart acutally, especially if they do a profit share based on how many of their tokens you hold.

I am not too sure about that. When they offered investments, they had a pretty huge amount invested. Now its much smaller so far in the presale. Still doesn't answer my question.

NorrisK

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I guess the main reason is to be able to pay rakeback or loss back or affiliate rewards without actually spending money.

It's pretty smart acutally, especially if they do a profit share based on how many of their tokens you hold.

iv4n

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Do you think about DAO and BetKing? Many people are interested in this, or they just spamming to get tokens from bounties. My facebook page is full with people that advertise this two ICO`s, and many others of course.
BetKing was a good site, I even participated in their signature campaign a long time ago. Dean is honest guy, he had many chances to run away with big money, but he always return funds if something is not right. He is a guy worth to be followed, and as I saw that he is making a much better casino, with more games, I saw plans for poker and sports book, all that looks very nice.

erpbridge

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Till date all the casinos which have wanted to raise money or have an invest feature used to do it by launching a casino accepting investments in bitcoins and charging a commission on bets.

But now I see casinos like creating an altcoin, accepting investments and issuing tokens to be traded on an exchange and keeping all the money raised upfront in the ICO.

Isn't that scammy ? Why can't they just accept bitcoins as regular investments ?

Topic: Can someone explain the trend of bitcoin casinos creating altcoins ? - page 4. (Read 1403 times)