I see many of you have many questions, so we will wait for the Team to let us know exactly how to go forward as I wish to purchase some tokens on the first day of the ICO as that day is the biggest bonus day, so will set aside a few funds for this.
Every opportunity should be utilized! May be very good if we also invite others to join ICO iDice. Let's support ICO iDice for success. 
Topic: 🔥🔥🔥[HOT][ANN][ICO] iDice - World's First Mobile Blockchain Gambling App🔥🔥🔥 - page 2. (Read 97774 times)
June 10, 2017, 10:03:52 AM
June 10, 2017, 10:01:59 AM
Nice project, perhaps again this trend-based ICO gambling this year.
June 10, 2017, 09:55:01 AM
I joined signature campaign
June 10, 2017, 09:05:41 AM
Future is here come and join this best game changing opportunity.
June 10, 2017, 08:21:50 AM
Can the iDice team please make an official statement concerning the Scam accusations? I'm aware that ETHRoll source code was used. What I don't know is why. The statement about using ETHroll code because of "all dice game code are almost the same" isn't very convincing. And these are redflags that could harm the project. If not during the ICO, but in the long run. To succeed in the market You need a unique product.
Not only that but they used an old version of the code which doesn't have a lot of the good changes etheroll has made recently.
Is this true? I was looking forward to invest in this ICO.
I'm very interested in this project but I need this question answered as well
Hello everyone,
I'm Jordan, the Founder and CEO of iDice.
We are aware of the accusations that have been made against us. We referenced Etheroll's open source code and have added several additional functions on top of it: it is clear to see that although some parts may be similar, it is not an exact replica. The smart contract you are seeing right now is purely for our beta release. Our intentions in using Etheroll's old code was to protect our final product from malicious copycat attempts from potential competitors. If we really wanted to copy Etheroll's source code, we would have used their current code with all the improvements they have made. A lot of you are raising an issue of our outrageously high house edge. We set the house edge to 6.5% only to test our game beta, it was not meant to be an official launch. We are aware that a competitive house edge is around 1% and we did not falsely advertise the house edge of our beta in any way.
I personally guarantee that the official mobile and desktop versions of iDice will have a source code that is completely unique to our platform. The team is working around the clock to expedite the official release of iDice for desktop and mobile platforms (which will have a house edge of 1%).
We made a mistake, and I apologize for the inappropriate manner that we handled this situation. We truly did not intend to lie to potential investors. We are not a scam project; our goal is to revolutionize blockchain gambling through mobile devices.
Thank you for understanding,
-Jordan Wong
The highlighting is my own... so wait, you copied the code from a competing app to protect your own app from being copied? lmao
June 10, 2017, 03:16:02 AM
There are some gambling campaigns that require them to engage in gambling even if their coins are already in trading market
and some also use divident only limited pre-sale only, so the direction looks very confused.
We should invest and play so we feel the pleasure of this gambling.
and some also use divident only limited pre-sale only, so the direction looks very confused.
We should invest and play so we feel the pleasure of this gambling.
June 10, 2017, 02:58:28 AM
I'm not gambler, nor i like to throw my money, but this won't be stop to invest in something that can bring me good return, and everything related with gaming is good opportunity, especially on ETH platform and all this from a mobile..Very good!
Ahaha, like dont spend your money in gambling site but invest and get huge return from gambling site 
There is absolutely no reason, why the market value of this coin would ever significantly increase, because it takes ages to get your money back. There is no other value to this coin, than the dividends. Don't just assume the coin will gain value because "that's what cryptos do"!
This cannot be known, we will see how free trade will influence the price.. June 10, 2017, 02:52:29 AM
I don't see how this is mathematically profitable to the average investor.
For example, Primedice (according to dicesites.com) has 2,772 BTC wagered through it's site since the end of May. Extrapolated for a months time would be about ~12,000 BTC or approximately $34 million a month.
With a house edge of 1% you would have an expected profit value of $340,000 a month, which is a significant amount of money, if you own all of the tokens and get 100%.
However, $5000 investment of ETH (~19 ETH as of today) would only yield 3800 tokens assuming you got it at the best price. (200 tokens / 1 ETH first hour).
Lets assume all 5 million tokens are sold.
3800 tokens is only 0.076% of the total 5 million available tokens (about $6.5 million at first hour price).
So if it was as popular as Primedice, 0.076% [of $340,000] would only net you ~$258 a month.
That is a full 19 months before you even make back your original investment of $5000!
Don't forget this is all under the assumption that idice would even become as popular as Primedice (been around 4 years) and would also do so instantly.
For example, Primedice (according to dicesites.com) has 2,772 BTC wagered through it's site since the end of May. Extrapolated for a months time would be about ~12,000 BTC or approximately $34 million a month.
With a house edge of 1% you would have an expected profit value of $340,000 a month, which is a significant amount of money, if you own all of the tokens and get 100%.
However, $5000 investment of ETH (~19 ETH as of today) would only yield 3800 tokens assuming you got it at the best price. (200 tokens / 1 ETH first hour).
Lets assume all 5 million tokens are sold.
3800 tokens is only 0.076% of the total 5 million available tokens (about $6.5 million at first hour price).
So if it was as popular as Primedice, 0.076% [of $340,000] would only net you ~$258 a month.
That is a full 19 months before you even make back your original investment of $5000!
Don't forget this is all under the assumption that idice would even become as popular as Primedice (been around 4 years) and would also do so instantly.
Guy, let's take a look at this...
Mr.Joshua juggled with some numbers up here and made some fairly accurate assumptions. Now, he pointed out that, if he's assumptions are more or less correct, it will take 19 months for you to get your money back, if you invested at best price (first hour). This is obviously true, regardless of the amount. 19 months. IF they ever become as successful as Primedice.com - the biggest players in the market.
It's was pointed out (on page 5 of this thread) that Mr.Joshua does not take into consideration, that the coin itself has value and can be traded on exchanges. Now, what makes a coin valuable?
- Bitcoin: Has value because it's being used as digital currency for payments in real life
- Ether: Has value because it's the oil of the Ethereum network. You pay with Ether to use the network.
- iDice: Has value because it pays out dividends
One "iDice" will pay you ~0.067$ dividends per month. This one "iDice initially cost ~1.31$ during the ICO (taken the example from above).
The time to break even, who would've thought, is obviously exactly the same - more than 19 months.
There is absolutely no reason, why the market value of this coin would ever significantly increase, because it takes ages to get your money back. There is no other value to this coin, than the dividends. Don't just assume the coin will gain value because "that's what cryptos do"!
(Yes, an increase of revenue would be a reason, but we're talking in this example about numbers from Primedice who has been in the market for years and is the biggest player by far. We surely can assume that not all 5 million tokens will be sold, so the dividends will be higher per token, but we also have to assume that iDice will never wager $34 millions).
Fun fact: 1 Ether is currently gaining about 10$ a day. Do you really think that is a great trade here?
June 10, 2017, 02:07:59 AM
Don't see anything new with this project, as compare to other similar ones, except some nice graphics. Aim at some quick bucks?
June 10, 2017, 02:04:46 AM
I see many of you have many questions, so we will wait for the Team to let us know exactly how to go forward as I wish to purchase some tokens on the first day of the ICO as that day is the biggest bonus day, so will set aside a few funds for this.
June 10, 2017, 12:42:31 AM
Dev, I really enjoyed your project and business plan, probably the money will be returned if ICO is not hit, right? But will there still be iDice? Why did not you particularly fund the project?
Your money will definitely not be returned, my friend They work without escrow. Your Ether will be gone.I'm think escrow is handled by smart contracts. If min goal isn't reached the funds should be returned automatically
June 10, 2017, 12:10:32 AM
Dev, I really enjoyed your project and business plan, probably the money will be returned if ICO is not hit, right? But will there still be iDice? Why did not you particularly fund the project?
Your money will definitely not be returned, my friend They work without escrow. Your Ether will be gone. June 10, 2017, 12:07:51 AM
Dev, I really enjoyed your project and business plan, probably the money will be returned if ICO is not hit, right? But will there still be iDice? Why did not you particularly fund the project?
June 09, 2017, 11:42:54 PM
Hi
So, the following statement would be true?
If you contribute in ...
... the first hour, you will get 200 tokens per ETH.
... the first 7 days, you will get 170 tokens per ETH.
... the last 7 days, you will get 130 tokens per ETH.
If this is true, then why do you talk about ratios? That is something completely different!
Thanks
So, the following statement would be true?
If you contribute in ...
... the first hour, you will get 200 tokens per ETH.
... the first 7 days, you will get 170 tokens per ETH.
... the last 7 days, you will get 130 tokens per ETH.
If this is true, then why do you talk about ratios? That is something completely different!
Thanks
Yes, that is correct.
June 09, 2017, 11:16:14 PM
Maybe I'm too skeptical, but the fact that you won't acknowledge the inquiries about your representation that the app will be available on Android and iOS platforms is very concerning to me. You say that it will, but can you please explain WHY you are able to make that representation? Don't they (Google Play and iOS) both ban gambling apps?
Thanks for the question!
I understand your concern. You are correct in that gambling apps are banned by Google Play and Itunes. You will be able to download our app directly through our site on your smartphone. We will not be releasing our app through Google Play/Itunes nor did we say that we would be. Our app will be able to run on IOS and Android platforms just like any other 3rd party app that you can download online. There will be a guide detailing how to install our app on your phone once it is released.
I hope this helps!
It does, thank you.
Another (possibly as dumb) question...I read in your white paper that there will no accounts, etc. How will a player be able to play casino type games realtime without an account? At some point players will have to transfer ETH to iDice and then play the games realtime off of that balance right? Wouldn't that be linked to an account? If not, how then would a user be linked to the ETH that he/she transferred?
That is a good question.
Normally, you would have to make an account such in the case of bitcoin dice games. With Ethereum, you can play from the safety of your wallet by simply sending ETH to the game/smart contract address. The smart contract will be able to compute the results of the game with random numbers generated from random.org. You will be able to generate a wallet to play from on the iDice app. After you send funds to the wallet, you will be able to start playing on the go!
Hope this helps!
Maybe I'm too skeptical, but the fact that you won't acknowledge the inquiries about your representation that the app will be available on Android and iOS platforms is very concerning to me. You say that it will, but can you please explain WHY you are able to make that representation? Don't they (Google Play and iOS) both ban gambling apps?
Thanks for the question!
I understand your concern. You are correct in that gambling apps are banned by Google Play and Itunes. You will be able to download our app directly through our site on your smartphone. We will not be releasing our app through Google Play/Itunes nor did we say that we would be. Our app will be able to run on IOS and Android platforms just like any other 3rd party app that you can download online. There will be a guide detailing how to install our app on your phone once it is released.
I hope this helps!
Can this be done without jailbreaking the iphone?
Thanks for the question!
You do not need to jailbreak or root your phone to install our app. For android phones it is relatively simple, but for IOS devices, you will be able to install our app through a process called sideloading. We will provide a guide in how to do so once the app is released.
Hope this clears things up for you
Hi there
I do have a couple of questions:
1. According to your white paper, you are distributing the tokens in three different ratios depending on what time the participant sent its Ether. Above the question was asked: "What will happen with unsold tokens?" and your answer was "Unsold tokens will be burned".
But - it's impossible to have unsold tokens the way you framed your ICO. Every token will be distributed according to the ratio. Can you please explain?
2. For clarification. What is the exact amount of tokens that will be distributed to the ICO participants?
Is it 4'500'000 due to the allocation of the development team or is it 5'000'000 with a total amount of 5'500'000 in circulation?
3. If I read the white paper correctly, you are raising an indefinite amount of money. You could end up with very few Ether up to millions of dollars worth of Ether (e.g. competitor vDice raised 1.8$ Million worth of Ether).
Could you elaborate on how much money your planning to spend on the different phases?
Thanks and best wishes
I do have a couple of questions:
1. According to your white paper, you are distributing the tokens in three different ratios depending on what time the participant sent its Ether. Above the question was asked: "What will happen with unsold tokens?" and your answer was "Unsold tokens will be burned".
But - it's impossible to have unsold tokens the way you framed your ICO. Every token will be distributed according to the ratio. Can you please explain?
2. For clarification. What is the exact amount of tokens that will be distributed to the ICO participants?
Is it 4'500'000 due to the allocation of the development team or is it 5'000'000 with a total amount of 5'500'000 in circulation?
3. If I read the white paper correctly, you are raising an indefinite amount of money. You could end up with very few Ether up to millions of dollars worth of Ether (e.g. competitor vDice raised 1.8$ Million worth of Ether).
Could you elaborate on how much money your planning to spend on the different phases?
Thanks and best wishes
Thanks for expressing interest! These are some great questions and I'd love to clear things up for you!
1. If there is no ETH contribution to convert to iDice tokens, those tokens will remain unsold. Everything will be handled automatically by the smart contract; there is a specific burn function on the smart contract that automatically burns tokens that have not received an ETH contribution. The smart contract also automatically handles the conversion rates of the tokens to ETH. There is no human involvement in the token conversion process, it is all done by code.
2. There is a limited supply of 5 million tokens. 500,000 of them will be allocated to development team, thus 4,500,000 will be distributed to the ICO participants.
3. We really wish we could raise an indefinite amount of money!
Unfortunately, we have a limited supply of 5 million tokens, so raising an indefinite amount of money is impossible. Even at the lowest conversion ratio, the maximum amount of money we can raise is 5million/130=38,461.5 ETH. You can find our how we plan to spend our money on our Use of Funds section on our whitepaper (https://crowdsale.idice.io/idice-whitepaper.pdf) This projection is based on our estimate of raising 1,000,000 USD. ...
Hi
Thanks for answering some of my question. Although something is clearly not right here! Please answer!
My first question:
I raised the concern that you are "raising an indefinite amount of money" which is clearly the case, the way your whitepaper is framed! You are talking about "ratios" and "proportionality" regarding the token distribution! The way you answered my question, your whitepaper should say:
"First hour: 1 ETH = 200 tokens" and not 200:1 ETH
"First 7 days: 1 ETH = 170 tokens" and not 170:1 ETH
"Last 7 days: 1 ETH = 130 tokens" and not 130:1 ETH
Tokens that are distributed "proportionally to the ETH contribution" and "in ratios" are something completely different than tokens that are being distributed equally.
What is the case here??
My second question:
You answered number two of my questions saying "500,000 of them will be allocated to development team, thus 4,500,000 will be distributed to the ICO participants."
You went on to answer the my third question talking about 5,000,000 tokens again, rather than the above stated 4,500,000. You contradicted yourself within 3 sentences.
Please clarify!
Thanks
Hi there!
Let me clarify:
That calculation is to show that we cannot raise an indefinite amount of funds even if we sold the tokens allocated to the development team. I apologize for the confusion.
500,000 tokens will be allocated to the development team, thus 4,500,000 will be available to the crowdsale. I used the 5,000,000 tokens as an example of if we sold everything and did not allocate any tokens to the development team. If we account for the 500,000 tokens allocated to the dev team, we have 4,500,000 tokens that are available during the crowdsale. Using this number we calculate that the maximum amount of ETH we can raise with the lowest conversion ratio is ~34615.4 ETH (4,500,000/130)
The whitepaper lists the conversion ratio from ETH to tokens, hence, 200:1ETH, 170:1ETH etc. We did not say that the tokens will be distributed equally. The number of tokens you can convert with 1 ETH depends on when you contribute during the crowdsale. Once the 4.5m tokens are sold, the crowdsale will end.
I hope this clears things up for you!
Hi
So, the following statement would be true?
If you contribute in ...
... the first hour, you will get 200 tokens per ETH.
... the first 7 days, you will get 170 tokens per ETH.
... the last 7 days, you will get 130 tokens per ETH.
If this is true, then why do you talk about ratios? That is something completely different!
Thanks
June 09, 2017, 10:53:35 PM
Maybe I'm too skeptical, but the fact that you won't acknowledge the inquiries about your representation that the app will be available on Android and iOS platforms is very concerning to me. You say that it will, but can you please explain WHY you are able to make that representation? Don't they (Google Play and iOS) both ban gambling apps?
Thanks for the question!
I understand your concern. You are correct in that gambling apps are banned by Google Play and Itunes. You will be able to download our app directly through our site on your smartphone. We will not be releasing our app through Google Play/Itunes nor did we say that we would be. Our app will be able to run on IOS and Android platforms just like any other 3rd party app that you can download online. There will be a guide detailing how to install our app on your phone once it is released.
I hope this helps!
It does, thank you.
Another (possibly as dumb) question...I read in your white paper that there will no accounts, etc. How will a player be able to play casino type games realtime without an account? At some point players will have to transfer ETH to iDice and then play the games realtime off of that balance right? Wouldn't that be linked to an account? If not, how then would a user be linked to the ETH that he/she transferred?
That is a good question.
Normally, you would have to make an account such in the case of bitcoin dice games. With Ethereum, you can play from the safety of your wallet by simply sending ETH to the game/smart contract address. The smart contract will be able to compute the results of the game with random numbers generated from random.org. You will be able to generate a wallet to play from on the iDice app. After you send funds to the wallet, you will be able to start playing on the go!
Hope this helps!
Maybe I'm too skeptical, but the fact that you won't acknowledge the inquiries about your representation that the app will be available on Android and iOS platforms is very concerning to me. You say that it will, but can you please explain WHY you are able to make that representation? Don't they (Google Play and iOS) both ban gambling apps?
Thanks for the question!
I understand your concern. You are correct in that gambling apps are banned by Google Play and Itunes. You will be able to download our app directly through our site on your smartphone. We will not be releasing our app through Google Play/Itunes nor did we say that we would be. Our app will be able to run on IOS and Android platforms just like any other 3rd party app that you can download online. There will be a guide detailing how to install our app on your phone once it is released.
I hope this helps!
Can this be done without jailbreaking the iphone?
Thanks for the question!
You do not need to jailbreak or root your phone to install our app. For android phones it is relatively simple, but for IOS devices, you will be able to install our app through a process called sideloading. We will provide a guide in how to do so once the app is released.
Hope this clears things up for you
Hi there
I do have a couple of questions:
1. According to your white paper, you are distributing the tokens in three different ratios depending on what time the participant sent its Ether. Above the question was asked: "What will happen with unsold tokens?" and your answer was "Unsold tokens will be burned".
But - it's impossible to have unsold tokens the way you framed your ICO. Every token will be distributed according to the ratio. Can you please explain?
2. For clarification. What is the exact amount of tokens that will be distributed to the ICO participants?
Is it 4'500'000 due to the allocation of the development team or is it 5'000'000 with a total amount of 5'500'000 in circulation?
3. If I read the white paper correctly, you are raising an indefinite amount of money. You could end up with very few Ether up to millions of dollars worth of Ether (e.g. competitor vDice raised 1.8$ Million worth of Ether).
Could you elaborate on how much money your planning to spend on the different phases?
Thanks and best wishes
I do have a couple of questions:
1. According to your white paper, you are distributing the tokens in three different ratios depending on what time the participant sent its Ether. Above the question was asked: "What will happen with unsold tokens?" and your answer was "Unsold tokens will be burned".
But - it's impossible to have unsold tokens the way you framed your ICO. Every token will be distributed according to the ratio. Can you please explain?
2. For clarification. What is the exact amount of tokens that will be distributed to the ICO participants?
Is it 4'500'000 due to the allocation of the development team or is it 5'000'000 with a total amount of 5'500'000 in circulation?
3. If I read the white paper correctly, you are raising an indefinite amount of money. You could end up with very few Ether up to millions of dollars worth of Ether (e.g. competitor vDice raised 1.8$ Million worth of Ether).
Could you elaborate on how much money your planning to spend on the different phases?
Thanks and best wishes
Thanks for expressing interest! These are some great questions and I'd love to clear things up for you!
1. If there is no ETH contribution to convert to iDice tokens, those tokens will remain unsold. Everything will be handled automatically by the smart contract; there is a specific burn function on the smart contract that automatically burns tokens that have not received an ETH contribution. The smart contract also automatically handles the conversion rates of the tokens to ETH. There is no human involvement in the token conversion process, it is all done by code.
2. There is a limited supply of 5 million tokens. 500,000 of them will be allocated to development team, thus 4,500,000 will be distributed to the ICO participants.
3. We really wish we could raise an indefinite amount of money!
Unfortunately, we have a limited supply of 5 million tokens, so raising an indefinite amount of money is impossible. Even at the lowest conversion ratio, the maximum amount of money we can raise is 5million/130=38,461.5 ETH. You can find our how we plan to spend our money on our Use of Funds section on our whitepaper (https://crowdsale.idice.io/idice-whitepaper.pdf) This projection is based on our estimate of raising 1,000,000 USD. ...
Hi
Thanks for answering some of my question. Although something is clearly not right here! Please answer!
My first question:
I raised the concern that you are "raising an indefinite amount of money" which is clearly the case, the way your whitepaper is framed! You are talking about "ratios" and "proportionality" regarding the token distribution! The way you answered my question, your whitepaper should say:
"First hour: 1 ETH = 200 tokens" and not 200:1 ETH
"First 7 days: 1 ETH = 170 tokens" and not 170:1 ETH
"Last 7 days: 1 ETH = 130 tokens" and not 130:1 ETH
Tokens that are distributed "proportionally to the ETH contribution" and "in ratios" are something completely different than tokens that are being distributed equally.
What is the case here??
My second question:
You answered number two of my questions saying "500,000 of them will be allocated to development team, thus 4,500,000 will be distributed to the ICO participants."
You went on to answer the my third question talking about 5,000,000 tokens again, rather than the above stated 4,500,000. You contradicted yourself within 3 sentences.
Please clarify!
Thanks
Hi there!
Let me clarify:
That calculation is to show that we cannot raise an indefinite amount of funds even if we sold the tokens allocated to the development team. I apologize for the confusion.
500,000 tokens will be allocated to the development team, thus 4,500,000 will be available to the crowdsale. I used the 5,000,000 tokens as an example of if we sold everything and did not allocate any tokens to the development team. If we account for the 500,000 tokens allocated to the dev team, we have 4,500,000 tokens that are available during the crowdsale. Using this number we calculate that the maximum amount of ETH we can raise with the lowest conversion ratio is ~34615.4 ETH (4,500,000/130)
The whitepaper lists the conversion ratio from ETH to tokens, hence, 200:1ETH, 170:1ETH etc. We did not say that the tokens will be distributed equally. The number of tokens you can convert with 1 ETH depends on when you contribute during the crowdsale. Once the 4.5m tokens are sold, the crowdsale will end.
I hope this clears things up for you!
June 09, 2017, 10:46:50 PM
Hi there
I do have a couple of questions:
1. According to your white paper, you are distributing the tokens in three different ratios depending on what time the participant sent its Ether. Above the question was asked: "What will happen with unsold tokens?" and your answer was "Unsold tokens will be burned".
But - it's impossible to have unsold tokens the way you framed your ICO. Every token will be distributed according to the ratio. Can you please explain?
2. For clarification. What is the exact amount of tokens that will be distributed to the ICO participants?
Is it 4'500'000 due to the allocation of the development team or is it 5'000'000 with a total amount of 5'500'000 in circulation?
3. If I read the white paper correctly, you are raising an indefinite amount of money. You could end up with very few Ether up to millions of dollars worth of Ether (e.g. competitor vDice raised 1.8$ Million worth of Ether).
Could you elaborate on how much money your planning to spend on the different phases?
Thanks and best wishes
I do have a couple of questions:
1. According to your white paper, you are distributing the tokens in three different ratios depending on what time the participant sent its Ether. Above the question was asked: "What will happen with unsold tokens?" and your answer was "Unsold tokens will be burned".
But - it's impossible to have unsold tokens the way you framed your ICO. Every token will be distributed according to the ratio. Can you please explain?
2. For clarification. What is the exact amount of tokens that will be distributed to the ICO participants?
Is it 4'500'000 due to the allocation of the development team or is it 5'000'000 with a total amount of 5'500'000 in circulation?
3. If I read the white paper correctly, you are raising an indefinite amount of money. You could end up with very few Ether up to millions of dollars worth of Ether (e.g. competitor vDice raised 1.8$ Million worth of Ether).
Could you elaborate on how much money your planning to spend on the different phases?
Thanks and best wishes
Thanks for expressing interest! These are some great questions and I'd love to clear things up for you!
1. If there is no ETH contribution to convert to iDice tokens, those tokens will remain unsold. Everything will be handled automatically by the smart contract; there is a specific burn function on the smart contract that automatically burns tokens that have not received an ETH contribution. The smart contract also automatically handles the conversion rates of the tokens to ETH. There is no human involvement in the token conversion process, it is all done by code.
2. There is a limited supply of 5 million tokens. 500,000 of them will be allocated to development team, thus 4,500,000 will be distributed to the ICO participants.
3. We really wish we could raise an indefinite amount of money!
Unfortunately, we have a limited supply of 5 million tokens, so raising an indefinite amount of money is impossible. Even at the lowest conversion ratio, the maximum amount of money we can raise is 5million/130=38,461.5 ETH. You can find our how we plan to spend our money on our Use of Funds section on our whitepaper (https://crowdsale.idice.io/idice-whitepaper.pdf) This projection is based on our estimate of raising 1,000,000 USD. ...
Hi
Thanks for answering some of my question. Although something is clearly not right here! Please answer!
My first question:
I raised the concern that you are "raising an indefinite amount of money" which is clearly the case, the way your whitepaper is framed! You are talking about "ratios" and "proportionality" regarding the token distribution! The way you answered my question, your whitepaper should say:
"First hour: 1 ETH = 200 tokens" and not 200:1 ETH
"First 7 days: 1 ETH = 170 tokens" and not 170:1 ETH
"Last 7 days: 1 ETH = 130 tokens" and not 130:1 ETH
Tokens that are distributed "proportionally to the ETH contribution" and "in ratios" are something completely different than tokens that are being distributed equally.
What is the case here??
My second question:
You answered number two of my questions saying "500,000 of them will be allocated to development team, thus 4,500,000 will be distributed to the ICO participants."
You went on to answer the my third question talking about 5,000,000 tokens again, rather than the above stated 4,500,000. You contradicted yourself within 3 sentences.
Please clarify!
Thanks
He's got a point. How could you not know the exact amount you could raise? If 10% of the tokens are reserved for the founders, why are you including them in that calculation?
June 09, 2017, 10:27:04 PM
Hi there
I do have a couple of questions:
1. According to your white paper, you are distributing the tokens in three different ratios depending on what time the participant sent its Ether. Above the question was asked: "What will happen with unsold tokens?" and your answer was "Unsold tokens will be burned".
But - it's impossible to have unsold tokens the way you framed your ICO. Every token will be distributed according to the ratio. Can you please explain?
2. For clarification. What is the exact amount of tokens that will be distributed to the ICO participants?
Is it 4'500'000 due to the allocation of the development team or is it 5'000'000 with a total amount of 5'500'000 in circulation?
3. If I read the white paper correctly, you are raising an indefinite amount of money. You could end up with very few Ether up to millions of dollars worth of Ether (e.g. competitor vDice raised 1.8$ Million worth of Ether).
Could you elaborate on how much money your planning to spend on the different phases?
Thanks and best wishes
I do have a couple of questions:
1. According to your white paper, you are distributing the tokens in three different ratios depending on what time the participant sent its Ether. Above the question was asked: "What will happen with unsold tokens?" and your answer was "Unsold tokens will be burned".
But - it's impossible to have unsold tokens the way you framed your ICO. Every token will be distributed according to the ratio. Can you please explain?
2. For clarification. What is the exact amount of tokens that will be distributed to the ICO participants?
Is it 4'500'000 due to the allocation of the development team or is it 5'000'000 with a total amount of 5'500'000 in circulation?
3. If I read the white paper correctly, you are raising an indefinite amount of money. You could end up with very few Ether up to millions of dollars worth of Ether (e.g. competitor vDice raised 1.8$ Million worth of Ether).
Could you elaborate on how much money your planning to spend on the different phases?
Thanks and best wishes
Thanks for expressing interest! These are some great questions and I'd love to clear things up for you!
1. If there is no ETH contribution to convert to iDice tokens, those tokens will remain unsold. Everything will be handled automatically by the smart contract; there is a specific burn function on the smart contract that automatically burns tokens that have not received an ETH contribution. The smart contract also automatically handles the conversion rates of the tokens to ETH. There is no human involvement in the token conversion process, it is all done by code.
2. There is a limited supply of 5 million tokens. 500,000 of them will be allocated to development team, thus 4,500,000 will be distributed to the ICO participants.
3. We really wish we could raise an indefinite amount of money!
Unfortunately, we have a limited supply of 5 million tokens, so raising an indefinite amount of money is impossible. Even at the lowest conversion ratio, the maximum amount of money we can raise is 5million/130=38,461.5 ETH. You can find our how we plan to spend our money on our Use of Funds section on our whitepaper (https://crowdsale.idice.io/idice-whitepaper.pdf) This projection is based on our estimate of raising 1,000,000 USD. ...
Hi
Thanks for answering some of my question. Although something is clearly not right here! Please answer!
My first question:
I raised the concern that you are "raising an indefinite amount of money" which is clearly the case, the way your whitepaper is framed! You are talking about "ratios" and "proportionality" regarding the token distribution! The way you answered my question, your whitepaper should say:
"First hour: 1 ETH = 200 tokens" and not 200:1 ETH
"First 7 days: 1 ETH = 170 tokens" and not 170:1 ETH
"Last 7 days: 1 ETH = 130 tokens" and not 130:1 ETH
Tokens that are distributed "proportionally to the ETH contribution" and "in ratios" are something completely different than tokens that are being distributed equally.
What is the case here??
My second question:
You answered number two of my questions saying "500,000 of them will be allocated to development team, thus 4,500,000 will be distributed to the ICO participants."
You went on to answer the my third question talking about 5,000,000 tokens again, rather than the above stated 4,500,000. You contradicted yourself within 3 sentences.
Please clarify!
Thanks
June 09, 2017, 09:17:33 PM
Maybe I'm too skeptical, but the fact that you won't acknowledge the inquiries about your representation that the app will be available on Android and iOS platforms is very concerning to me. You say that it will, but can you please explain WHY you are able to make that representation? Don't they (Google Play and iOS) both ban gambling apps?
Thanks for the question!
I understand your concern. You are correct in that gambling apps are banned by Google Play and Itunes. You will be able to download our app directly through our site on your smartphone. We will not be releasing our app through Google Play/Itunes nor did we say that we would be. Our app will be able to run on IOS and Android platforms just like any other 3rd party app that you can download online. There will be a guide detailing how to install our app on your phone once it is released.
I hope this helps!
Can this be done without jailbreaking the iphone?
June 09, 2017, 08:48:41 PM
I want to ask Crowdsale what to do, Who is Escrow in iDice Project ?
i think iDice use smart contract eth,so don't worry about escrow Jump to: