Casinobit - LIVE ROULETTE - [INVEST] - BEST CASINO OF 2013 - page 12.

filharvey

hero member

Activity: 866

Merit: 1001

Quote from: CasinoBit on September 26, 2013, 09:50:13 AM

Quote from: FloridaBear on September 26, 2013, 08:52:59 AM

Quote from: CasinoBit on September 26, 2013, 08:30:25 AM

Looks like we are going to default on all investments where (originally invested)-(withdrawn)<0 that are still within the system.

Another Bitcoin casino is going to get all the players and repay their debt.

What is left of Casinobit is being sold to new owners (which is essentially the domain name), they will repay the remaining investors.

A list of debt will be processed and put publicly.

I am not an investor, but I don't understand your statement regarding defaults. Do you mean (originally invested)-(withdrawn)>0 (i.e. all outstanding investments)?

I think the most equitable way to do it would be to try to repay investors with (invested)-(withdrawn) and ignore any profits, since they were never right. Or at least pass that list on to the new owners--I think that may be what you are trying to say. Of course, some investers who withdrew more than their original investment (because of profits) made out really well at the expense of other investors.

To clarify, there have been investors that already withdrew, 2, 3, 5 times the original amount invested by them yet still hold debt, their debt is discarded and will not be repaid.

The new owners will use the same domain but will completely wipe all the records of accounts, all the website and all the content and start all over again. Sorry for the bumpy ride guys.

I will also make sure the new owners will not start collecting investments until the debt is repaid.

So I'm assuming that I will not get anything back as which I have still on the site, as I got back a lot more than I put in. So What if I just start betting with this money and I then win? Will I get my winnings then?

Phil

icecube

full member

Activity: 140

Merit: 100

Quote from: CasinoBit on September 26, 2013, 09:50:13 AM

Quote from: FloridaBear on September 26, 2013, 08:52:59 AM

Quote from: CasinoBit on September 26, 2013, 08:30:25 AM

Looks like we are going to default on all investments where (originally invested)-(withdrawn)<0 that are still within the system.

Another Bitcoin casino is going to get all the players and repay their debt.

What is left of Casinobit is being sold to new owners (which is essentially the domain name), they will repay the remaining investors.

A list of debt will be processed and put publicly.

I am not an investor, but I don't understand your statement regarding defaults. Do you mean (originally invested)-(withdrawn)>0 (i.e. all outstanding investments)?

I think the most equitable way to do it would be to try to repay investors with (invested)-(withdrawn) and ignore any profits, since they were never right. Or at least pass that list on to the new owners--I think that may be what you are trying to say. Of course, some investers who withdrew more than their original investment (because of profits) made out really well at the expense of other investors.

To clarify, there have been investors that already withdrew, 2, 3, 5 times the original amount invested by them yet still hold debt, their debt is discarded and will not be repaid.

The new owners will use the same domain but will completely wipe all the records of accounts, all the website and all the content and start all over again. Sorry for the bumpy ride guys.

I will also make sure the new owners will not start collecting investments until the debt is repaid.

Will the bettors be paid?

CasinoBit

sr. member

Activity: 364

Merit: 250

Quote from: FloridaBear on September 26, 2013, 08:52:59 AM

Quote from: CasinoBit on September 26, 2013, 08:30:25 AM

Looks like we are going to default on all investments where (originally invested)-(withdrawn)<0 that are still within the system.

Another Bitcoin casino is going to get all the players and repay their debt.

What is left of Casinobit is being sold to new owners (which is essentially the domain name), they will repay the remaining investors.

A list of debt will be processed and put publicly.

I am not an investor, but I don't understand your statement regarding defaults. Do you mean (originally invested)-(withdrawn)>0 (i.e. all outstanding investments)?

I think the most equitable way to do it would be to try to repay investors with (invested)-(withdrawn) and ignore any profits, since they were never right. Or at least pass that list on to the new owners--I think that may be what you are trying to say. Of course, some investers who withdrew more than their original investment (because of profits) made out really well at the expense of other investors.

To clarify, there have been investors that already withdrew, 2, 3, 5 times the original amount invested by them yet still hold debt, their debt is discarded and will not be repaid.

The new owners will use the same domain but will completely wipe all the records of accounts, all the website and all the content and start all over again. Sorry for the bumpy ride guys.

I will also make sure the new owners will not start collecting investments until the debt is repaid.

pedrog

legendary

Activity: 2786

Merit: 1031

Quote from: FloridaBear on September 26, 2013, 08:52:59 AM

Quote from: CasinoBit on September 26, 2013, 08:30:25 AM

Looks like we are going to default on all investments where (originally invested)-(withdrawn)<0 that are still within the system.

Another Bitcoin casino is going to get all the players and repay their debt.

What is left of Casinobit is being sold to new owners (which is essentially the domain name), they will repay the remaining investors.

A list of debt will be processed and put publicly.

I am not an investor, but I don't understand your statement regarding defaults. Do you mean (originally invested)-(withdrawn)>0 (i.e. all outstanding investments)?

I think the most equitable way to do it would be to try to repay investors with (invested)-(withdrawn) and ignore any profits, since they were never right. Or at least pass that list on to the new owners--I think that may be what you are trying to say. Of course, some investers who withdrew more than their original investment (because of profits) made out really well at the expense of other investors.

As I understand, he his going to default on who already got profit, e.g. invested 5 coins, withdraw 10, 5 - 10 = -5, less than 0.

Quote from: ?? on ??

Quote from: 01BTC10 on September 26, 2013, 08:55:19 AM

This is sad for those who took the biggest risk early on but pretty nice for those who are still down.

Not the ultimate option but honestly a pretty decent one. I know you were one of the early guys but you went positive with withdrawls.

Just making everyone whole is pretty decent imo.

Agree.

And I'd like he could elaborate a little more, it seems every debt is going to be paid...

01BTC10

vip

Activity: 756

Merit: 503

This is sad for those who took the biggest risk early on but pretty nice for those who are still down.

FloridaBear

full member

Activity: 260

Merit: 100

Quote from: CasinoBit on September 26, 2013, 08:30:25 AM

Looks like we are going to default on all investments where (originally invested)-(withdrawn)<0 that are still within the system.

Another Bitcoin casino is going to get all the players and repay their debt.

What is left of Casinobit is being sold to new owners (which is essentially the domain name), they will repay the remaining investors.

A list of debt will be processed and put publicly.

I am not an investor, but I don't understand your statement regarding defaults. Do you mean (originally invested)-(withdrawn)>0 (i.e. all outstanding investments)?

I think the most equitable way to do it would be to try to repay investors with (invested)-(withdrawn) and ignore any profits, since they were never right. Or at least pass that list on to the new owners--I think that may be what you are trying to say. Of course, some investers who withdrew more than their original investment (because of profits) made out really well at the expense of other investors.

pedrog

legendary

Activity: 2786

Merit: 1031

I'm really sorry to hear that.

Quote from: CasinoBit on September 26, 2013, 08:30:25 AM

What is left of Casinobit is being sold to new owners (which is essentially the domain name), they will repay the remaining investors.

Can you elaborate a little more on that?

CasinoBit

sr. member

Activity: 364

Merit: 250

Looks like we are going to default on all investments where (originally invested)-(withdrawn)<0 that are still within the system.

Another Bitcoin casino is going to get all the players and repay their debt.

What is left of Casinobit is being sold to new owners (which is essentially the domain name), they will repay the remaining investors.

A list of debt will be processed and put publicly.

01BTC10

vip

Activity: 756

Merit: 503

Quote from: 001sonkit on September 26, 2013, 05:45:03 AM

Seems you guy are missing all those weekly reply of "I am not running away yet"

Deadline is over and website don't take any new account, so no more hope. Arkspace even said that some other casinos are interested about getting the players but don't care about investors.

001sonkit

hero member

Activity: 784

Merit: 1000

Casper - A failed entrepenuer who looks like Zhou

Seems you guy are missing all those weekly reply of "I am not running away yet"

DobZombie

hero member

Activity: 896

Merit: 532

Former curator of The Bitcoin Museum

Quote from: CasinoBit on September 16, 2013, 11:16:56 AM

In the nearest 7 days the chat should be launched as well as everyone repaid so this will certainly be interesting.

The profit fees will be set to 10%, this is the notice in advance, the current way investments work has been great for testing with constant withdrawals/deposits but the auto reinvestment system will be on soon.

Got my money yet?

o.0

FloridaBear

full member

Activity: 260

Merit: 100

Quote from: ?? on ??

Quote from: Rampion on September 24, 2013, 12:16:19 PM

To the ones giving the scammer "the benefit of the doubt" just because it hurts too much to accept you lost your coins

Speaking only for myself, I didn't invest (the site seemed badly done and thus I feared bugs) and as such did not lose. I still give him the benefit of the doubt in the sense that I don't think he ponzied intentionally. However his refusal to stop the website and to explain what was actually going on make him a scammer regardless.

Unfortunately, this is the truth. If you know there are issues with payouts to players and are also aware that those who deposit BTC will not always be able to withdraw and STILL do not shut the website, you are a scammer. I repeatedly asked why the website was still accepting bets if players were not always getting paid (and no support when they didn't), with no response at all.

At this point, the only way to salvage this site IMO is to sell it to new ownership. I think it will be impossible to regain trust at this point unless that happens.

Rampion

legendary

Activity: 1148

Merit: 1018

I've been saying this for the last 30 days: the coins are gone for good, stop deluding yourself. What else do you need to know?

- the "investment feature" worked as a PONZI SCHEME. Early investors were able to double and triple their investments as other people invested their money
- as soon as the ponzi was uncovered by forum members, withdrawals were suddenly taken down due to "technical problems"
- while withdrawals didn't work (many weeks), deposits worked fine (oooohhh...). OP kept scamming more people.
- OP didn't give a single explanation about WHY his casino was suddenly working as a Ponzi scheme; he did not give a single explanation about WHY withdrawals were/are not working. He did not give a single explanation about HOW he was going to recoup the coins "late investors" and bettors were missing.

To the ones giving the scammer "the benefit of the doubt" just because it hurts too much to accept you lost your coins: you are advertising this site with your blind hope, a site which is an obvious scam which has been scamming more and more coins since the withdrawals stopped.

We were robbed, man up and move on.

hobbymd

sr. member

Activity: 259

Merit: 250

Quote from: aksplace on September 24, 2013, 12:52:20 AM

Quote from: hobbymd on September 24, 2013, 12:11:47 AM

Quote from: aksplace on September 23, 2013, 10:31:47 PM

Actually to be fair to the man he is indeed cooperating on getting the real players paid back with a competitors casino. In all honesty your odds of getting your investment back anytime soon is less than 10%. but pretty confident the players have a decent chance on getting what is actually owed to them in a timely manner. Don't quote me just have to see!

uhmm does that mean you know more than what you said there?! I mean how do you know he is making such a deal?! do you want to shed more light on this matter? and btw what do you mean by " real players " Huh

I guess late is better than never as long as it's done in timely manner Wink

. To bitcasino's defence, obviously the man hasn't runaway and it seems he is actively trying to make something happen I wish only he would have shared more information about it.

Originally I was in contact with just one but it slightly has now became two. Keep in mind this all started for me apx 3 weeks ago or so? I honestly wanted to get involved right when I first read about it because I have helped in a similar situation prior (plus I figured it would earn me brownie points as a new forum contributor). He wasn't having any of it and got extremely defensive when I reached out to him. Once he let down his guard I think he realized it was maybe on the only options he had for the players and investors best interest. Anyhow as your aware a majority of the funds are in the investment section of this casino site. Casinos don't really see an investor as a valuable component like you or I might but they do like them day to day active casino players.

With that being said one is interested primarily in just players but would have to be somewhat verifiable which it should be based on minimal criteria like IP, withdrawal address, emails etc. As I said don't quote me because they could pull the plug if they don't like what they see. I'm clearly rooting for the players and investors to get something for the troubles they have had even if its a decent sized free play with a rollover attached to it prior to cashing out.

Thanks for sharing more info Cool

I believe the dude is not a scammer nor he is trying to runaway after all he shared his identity and etc with the feed provider.

Me personally, I was one of the late investors who got screwed by the early investors Grin

, so I started to gamble with my paper bitcoins and got very lucky as a player but the end result was the same couldn't withdraw either my investment nor my winnings .

aksplace

sr. member

Activity: 602

Merit: 260

Quote from: hobbymd on September 24, 2013, 12:11:47 AM

Quote from: aksplace on September 23, 2013, 10:31:47 PM

Actually to be fair to the man he is indeed cooperating on getting the real players paid back with a competitors casino. In all honesty your odds of getting your investment back anytime soon is less than 10%. but pretty confident the players have a decent chance on getting what is actually owed to them in a timely manner. Don't quote me just have to see!

uhmm does that mean you know more than what you said there?! I mean how do you know he is making such a deal?! do you want to shed more light on this matter? and btw what do you mean by " real players " Huh

I guess late is better than never as long as it's done in timely manner Wink

. To bitcasino's defence, obviously the man hasn't runaway and it seems he is actively trying to make something happen I wish only he would have shared more information about it.

Originally I was in contact with just one but it slightly has now became two. Keep in mind this all started for me apx 3 weeks ago or so? I honestly wanted to get involved right when I first read about it because I have helped in a similar situation prior (plus I figured it would earn me brownie points as a new forum contributor). He wasn't having any of it and got extremely defensive when I reached out to him. Once he let down his guard I think he realized it was maybe on the only options he had for the players and investors best interest. Anyhow as your aware a majority of the funds are in the investment section of this casino site. Casinos don't really see an investor as a valuable component like you or I might but they do like them day to day active casino players.

With that being said one is interested primarily in just players but would have to be somewhat verifiable which it should be based on minimal criteria like IP, withdrawal address, emails etc. As I said don't quote me because they could pull the plug if they don't like what they see. I'm clearly rooting for the players and investors to get something for the troubles they have had even if its a decent sized free play with a rollover attached to it prior to cashing out.

hobbymd

sr. member

Activity: 259

Merit: 250

Quote from: aksplace on September 23, 2013, 10:31:47 PM

Actually to be fair to the man he is indeed cooperating on getting the real players paid back with a competitors casino. In all honesty your odds of getting your investment back anytime soon is less than 10%. but pretty confident the players have a decent chance on getting what is actually owed to them in a timely manner. Don't quote me just have to see!

uhmm does that mean you know more than what you said there?! I mean how do you know he is making such a deal?! do you want to shed more light on this matter? and btw what do you mean by " real players " Huh

I guess late is better than never as long as it's done in timely manner Wink

. To bitcasino's defence, obviously the man hasn't runaway and it seems he is actively trying to make something happen I wish only he would have shared more information about it.

aksplace

sr. member

Activity: 602

Merit: 260

Actually to be fair to the man he is indeed cooperating on getting the real players paid back with a competitors casino. In all honesty your odds of getting your investment back anytime soon is less than 10%. but pretty confident the players have a decent chance on getting what is actually owed to them in a timely manner. Don't quote me just have to see!

fat%

member

Activity: 62

Merit: 10

Quote from: CasinoBit on September 16, 2013, 11:16:56 AM

_{[some 7 days bullshit]}

pedrog

legendary

Activity: 2786

Merit: 1031

Quote from: fat% on September 23, 2013, 05:42:42 PM

Quote from: pedrog on September 23, 2013, 04:14:51 PM

Quote from: 01BTC10 on September 23, 2013, 02:54:01 PM

Quote from: fat% on September 23, 2013, 02:10:45 PM

Quote from: CasinoBit on September 16, 2013, 11:16:56 AM

In the nearest 7 days the chat should be launched as well as everyone repaid so this will certainly be interesting.

The profit fees will be set to 10%, this is the notice in advance, the current way investments work has been great for testing with constant withdrawals/deposits but the auto reinvestment system will be on soon.

7 days you know Roll Eyes

7 standard Josh™ days™

Let's count working days only.

LOL

Indeed I was.

fat%

member

Activity: 62

Merit: 10

Quote from: pedrog on September 23, 2013, 04:14:51 PM

Quote from: 01BTC10 on September 23, 2013, 02:54:01 PM

Quote from: fat% on September 23, 2013, 02:10:45 PM

Quote from: CasinoBit on September 16, 2013, 11:16:56 AM

In the nearest 7 days the chat should be launched as well as everyone repaid so this will certainly be interesting.

The profit fees will be set to 10%, this is the notice in advance, the current way investments work has been great for testing with constant withdrawals/deposits but the auto reinvestment system will be on soon.

7 days you know Roll Eyes

7 standard Josh™ days™

Let's count working days only.

Topic: Casinobit - LIVE ROULETTE - [INVEST] - BEST CASINO OF 2013 - page 12. (Read 82377 times)