Topic: Freebitco.in - FUN Token Investment Experiment (Read 4906 times)

What would be nice is for the OP to update and tell us how the experiment went for him, if he still has those FUN tokens, or if he removed them, if he had any problems removing them.

He invested 0.14611140 BTC to purchase the tokens in July 2022. As for face value of the tokens, their price has been reduced to 1/3 but the problem I see is not that. The problem is that the price of bitcoin has multiplied by 4.5 at this point. So if he still has the FUN tokens today, the experiment has been disastrous in terms of the profitability of the tokens themselves and in terms of the opportunity cost of simply having HODLed those 0.14611140 BTC .

Converted to fiat, when he bought the tokens they cost him about $3K, which as of today are worth about $1K and had he simply HODLed as of today he would have $13.5K.

This is a general issue and not peculiar to you alone, all users of freebitco are currently not getting their deserved free spin even though they have the required and even much more Fun tokens on their account, this is one of issues that currently plagues this casino plus some other issues as well.

And the unfortunate thing is that is there is really nothing we can do except just sit and wait, there are no team members to contact to find out what is going on, and there are no customers supports to also talk to concerning the issue.

So, two options you have, either to just be patient and wait and hope the issue gets resolved, or withdraw your fun tokens out of the casino for now and keep it some where more safe and secure since the purpose of it being on freebitco is no longer being accomplished.

freebico.in is no giving me any free spins even if i have the required FUN Token why is it like that?

Their long time operation without getting to much into trouble and majority of their gamblers are satisfied with their casino performance that's why a lot of people can vouch that they are one of the best casino so far. But their current issue stain their reputation that's why there's lot of people is now doubting about their current status and if they can still provide the same good service just like what they are performing before.

But we can't really ignore those issues happened since somehow this indicate that there is a huge issues happening and might this will be the end of their operation that's why its better for people to secure their asset for a while for safety purposes.

I don't remember any casino token being effective in the short term. In fact, for a token to be effective in the short term, it must be hype and volatile, which is not typical for any casino token. I'm inclined that the essence of casino tokens comes down to the fact that users who bought them can only expect some sort of benefits directly on the casino platform rather than profit.

Yes ofcourse, freebitco.in has had a great reputation and I guess that's the only reason why many of us here vouch for the site.
But the recent incidents have cracked the trust factor a little. I have myself known the site for over 8 years now.
There are many early members here who have been with freebitco.in way longer.
On the other hand, we can't simply ignore the mishaps on the site just because it has been operating since a long time.

As much as I understand your point of view clearly, it is dangerous to attach emotions or sentiment to online services most especially  ones you don't know their founders like person to person, you love freebtico and this is very much understandable, because I too love freebitco, in fact, I think a share exactly the same testimony as you, because when I got to know about bitcoin in 2016, I had no money to buy even though bitcoin was still relatively cheap at the time, In my quest to find a way to get bitcoin, I discovered freebitco and this site was the place I got my very first sets of Satoshi for free, those free Satoshis I earned from this site was my beginning foundation in crypto, it was through those Satoshis I got to learn and know most of the things I know about bitcoin and cryptocurrency at large today, and for this reason, I always have loved freebitco.

But then, previous experiences have thought me to never attach emotion when judging any online platform, for that could make one ignore some really important red flags, which could lead that person to being a victim of scam.

As long as you do not know the freebitco team, and neither are you part of the team, it's impossible to tell whether they will resolve issues or not, so to be safe, always be careful and do not invest carelessly.

This is my first faucet and this is where I got to know about betting in a roll that was 8 or more years ago I left the site and just came back I have mixed luck on this platform many of us started here because of being an OG or original,  the signature campaign was stopped but I'm sure it will be back it's hard to build a reputation in this business and they've been enjoying their reputation for so many years.
Based on their platform its just a matter of time before they get bac to normal operation.

I am one of the fans of this site, in fact, since 2016, I first got to know Bitcoin and got my first results from there, and even now I have the FUN token and invested a little there because of my trust in Freebitco, so that's why I continue play there because every problem will always be solved by Freebitco.

They are doing this to resolve the issue and from what they shared so far, it seems issue is technical with backlog in email and I guess it relates to their email service provider.

It's early to say that they will recover their reputation after this accident but let's hope so.

I see people discuss about $FUN token and some denial that Freebitco.in did not actually acquire the FUN token project. I read news about this acquisition years ago and recent days, people shared that link again. So the denial is so strange, and can not explain in my opinion.

Let's wait the Freebitco.in team to resolve technical issue, back log in their email and user withdrawal request first. Then when they announce more details, we will know more about what's happen with $FUN token and that assumed acquired project by Freebitco.in.

Ideally they are better for short term and not for long term since we could able to see that almost all of them fell short when they exist for long time and what commonly we see is they are struggling to get a big pumps that's why for me deciding to invest on casino tokens especially if they are already age is bit off for me. FUN token is really not an exception here since we know how they fell short and the recent issue happened on freebitco.in will surely give huge effect for peoples decision not to buy that token.

I don't know if they can recover for getting back the trust of people but for other thinking about that this is opportunity for them to buy since their casino is already there and fixing their troubles then maybe they should think twice since that doesn't mean their token will start to pump so be vigilant or have critical thinking on some situations that might happen again.

I also think that investing in casino tokens is a very bad idea. Almost all casino tokens I know have shown negative price performance in the long term. And FUN is not an exception to this list, as you know. Most likely casinos are not profitable to pump their tokens for many reasons known only to them.

Sometimes I also think the same that's why sometimes I don't have any good feeling to hold it especially if market situation on all alts became worst since its like we might start to get stress especially if we are not sure if we can go back to its old price or even can surpass it just like what mostly happen to bitcoin.

For what happen on freebitco.in guess I will pass out to acquire their token since for me its really risky to have that especially that they are facing a lot of issue. Although there's a good changes happening since we see a lot of people starting to post about their withdrawals are now fine but still It doesn't change my view that its good to acquire FUN token again. Since I still didn't find it good to have for now, but let see what will happen in future if there's something big changes will happen to freebitco.in.

All casinos tokens are pretty much bad options if you are trying to make money in the long-term since they rarely return significant returns over time due to various reasons which is why they are usually bad investment choices.

Personally, I don't care about FUN token. Am simply happy to see Freebitco resolve their recent major issue frankly speaking.

Some kind of integration would be nice, but what platform would it be with? I doubt that any other popular crypto casinos would want to mess with the FUN token since it's already integrated into their competitor's platform (freebitcoin).
Maybe more efficient burning could significantly impact the FUN token price, but I don't think the developers of the FUN token have made any progress in this direction.

Yeah I also doubt that it will happen since after all there's no changes happen even if the freebitco.in still running good. So the same as before if they don't add something to make it useful or valuable the price will continue to act the same so we can't expect anything huge for it. Although maybe the trust of people may start to go back on them but for sure this is only for playing on their casino and there's no other related to any growth will happen.

But its really good sign to see that there are people confirming about the withdrawal on the site is working since maybe it erase out some doubts of people that they might turn into a scam. freebitco.in already have a name in the industry so I really doubt they would ruin this just like that.

Although things are starting to take a good turn on freebitco.in but it still doesn't mean anything good for the FUN token.
Even if everything at freebitco.in is back to normal, it still not an enough reason for FUN token price to pump hard.
We would need something good enough like a development of the protocol or an integration with a gaming platform or something.
Otherwise it would be really difficult to see FUN token climbing up again. It would just become just another dead altcoin.

Yep. I cant say I'm optimistic about FUN's long-term prospects at this point. The price keeps sliding lower and lower.  Most casino coins are kinda like that unfortunately - the developers don't add more utility or try to boost demand.  A token needs more going for it than just gambling to keep growing.


edit:
At least, some good news! Users in the main thread are reporting that withdrawals from the site are working again.

When they mentioned they would be focusing more on GameFi, I expected something more substantial than some meaningless partnerships where they give some tokens to players in a third party game through lootboxes. It might give them a bit of exposure but it does nothing to increase the utility or value of the token. The WOF rewards are decent compared to the faucet, but it is still not enough to make up for the losses from holding the token.

Some of us already warned about this in this thread.


Yes, even more so. The Fun token had a spike in price when freebitco.in adopted it. Previously it had only had the initial spike that many shitcoins have. If the one thing that gave it backing goes to shit, imagine where the token will go.