It takes years to build a reputation and seconds to break it - page 10.

harizen

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Quote from: Vaskiy on June 30, 2021, 06:46:52 PM

They notified users about the plans and later closed settling all the funds deposited on the platform.

Hopefully, that practice will be continuously done by those companies that will either; a) change or shift business b) experiencing a revenue loss or c) just totally want to shut down the operation.

An exit scam is still probably to happen to those who already built a reputation in the crypto-world but at least nowadays, it's not happening or should I say, it was minimized now, in most cases.

The bottom line, if we feel not comfortable on a certain site no matter how reputable it is, just don't leave our funds there for assurance.

STT

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MtGox was run as a fractional reserve basis after it lost some of its reserves. Cryptsy I know slightly better and if all accounts by ex staff were true, it was compromised by its own CEO manhandling security until someone took advantage, after that they probably ran fractional reserve which wont work as crypto is too volatile basically.

Quote

Anyway a company with good reputation may not do this since they already on the top of the list so they can keep making money ebery year and also their company will grow bigger.

I think thats the biggest clue how to avoid a problem setup, if its operating well theres more to be lost in not continuing the business then the idea of ruining the company in this way. If there is problems and also the site is unresponsive or not even adhereing to their own terms and conditions properly then its reasonable to suspect there is a problem and be cautious at this point. That'd certainly be fair enough but most complaints are related to losing bets or mistunderstanding how the bet was lost perhaps.

Vaskiy

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Quote from: agustina2 on June 30, 2021, 06:36:33 PM

Cryptsy, MtGox, Cryptopia, Bitpoint etc. - some of these claimed to be hacked which I doubt.

I also don't understand why after being established as a reputable company, scams or alleged hacks will happen then they will get away without giving the right compensation to their users.

Even with the most famous companies today, we should just remember that always play safe as we don't know what will happen next.

This has happened in the past. Now such incidents isn't happening around. In recent days more number of gambling service providers stopped the service and moved to other business. By the time they could've ended with an exit scam, but none did that. They notified users about the plans and later closed settling all the funds deposited on the platform. Right now things have changed a lot than the past when we talk of cryptospace and reputation.

agustina2

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Cryptsy, MtGox, Cryptopia, Bitpoint etc. - some of these claimed to be hacked which I doubt.

I also don't understand why after being established as a reputable company, scams or alleged hacks will happen then they will get away without giving the right compensation to their users.

Even with the most famous companies today, we should just remember that always play safe as we don't know what will happen next.

Dread Pirate Roberts

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Quote from: Mahanton on June 30, 2021, 05:34:47 PM

Dont know on how you do make out comparison about ponzis and gambling business on here.Only a fool who cant determine on whats a ponzi nowadays and honestly i dont see any connection with this because its too obvious since from the start and real business is something that could sustain itself on the long run and you can determine for yourself on whats ponzi and whats not.It is just a matter on how they would get their
players and make success on this industry considering that there are lots of competition out there which would really be a big challenge for new casinos or merchants out there.
Reputation should be built up and its a long due process.

Yes my bad. ponzi are wrong analogy, i just remember the case of a casino offering high odds for world cup matches and they were offering many bonuses and in the middle of the match the odds changed. its like they promoting to get many people for betting there because they had high odds than any other casino had, and when the match begin they changed it. or maybe they have no intention of cheating, but there is an error from their system. no one knows, if they want to continue to be a trusted casino they must be responsible.

Oceat

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Quote from: uneng on June 30, 2021, 12:53:19 PM

Quote from: Chato1977 on June 30, 2021, 06:50:04 AM

Reputation is nothing when we talk about money , even how long they build the reputation and name but there is an involving High amount means the money will be the main objective and the reputation may seems to be not existing .

You still need reputation to make money. Who is going to hire your services, spend at your business or even work for you if you don't have any reputation or a negative one?
I believe what happens nowadays is that many people get their reputations through dirty ways and since money is the most important thing in modern world, they actually buy their status instead of building it step by step from the bottom. Maybe that is what you mean.

Who says we need reputation to make money? We can make money without some reputation, this is just an ideology of someone who wants to gain status. And since we are all talking about online casino that suddenly turn their back because they saw a great opportunity to make money by destroying what they built.

A real business minded owner won't do that because that's what scammers do driven by their greed. I don't think scammers will last building a reputation first when all they see is an opportunity to make an easy money. Or let's just say they did build a reputation but I don't think they will last for a year or two before they start doing some shady stuff to their customers.

What do you mean by modern world? We're all living in the same planet. I think you meant to say is the third world country. Well, it's a common thing there a lot of people has a corrupted mindset.

chaser15

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Quote from: Dread Pirate Roberts on June 30, 2021, 02:17:02 PM

The similiarity about this is like ponzi. they paid people to get more people, I think it's the same with that system. what's more, if it's trusted by other people,

On the other hand, people doing some Ponzi don't really trust the Ponzi site but instead, they are just riding the risks since it's paying. There's no form of trust built here and people here already know that it will, later on, be a scam.

In a legit site, there will be no trust issues since they are running for years. Unfortunately, some still ended up as a scam and that's the reality even after getting the people's trust and building it will take years.

Mahanton

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Quote from: tippytoes on June 30, 2021, 04:27:55 PM

Quote from: goinmerry on June 30, 2021, 04:14:36 PM

Quote from: Dread Pirate Roberts on June 30, 2021, 02:17:02 PM

The similiarity about this is like ponzi. they paid people to get more people, I think it's the same with that system. what's more, if it's trusted by other people, maybe other people will believe like him too.

It can't be applied or compared to a Ponzi site where being reputable is far from happening. The experience is not the same.

Here in the topic, we are talking about platforms that are running for several years then eventually will turn into scams. These sites almost can't be considered as bad sites as they remain true to their customers for several years. The reputation is already built and now trusted by anyone.

Then suddenly, !@#$%. The rest is history.

Yes, ponzi is somewhat different here. Because ponzi scheme, you can already spot it even at the beginning. Whereas, for a casino to build business throughout the years, it is not about paying other people to promote their platform. Because it is hard to fake their services if it is already going for years. Now, if suddenly someone alleges them of being scammer, we need to verify if that person is saying the truth or just ruining the reputation of the casino. We can tell if he is just falsely accusing the casino by the proofs he will give to the public.

Dont know on how you do make out comparison about ponzis and gambling business on here.Only a fool who cant determine on whats a ponzi nowadays and honestly i dont see any connection with this because its too obvious since from the start and real business is something that could sustain itself on the long run and you can determine for yourself on whats ponzi and whats not.It is just a matter on how they would get their
players and make success on this industry considering that there are lots of competition out there which would really be a big challenge for new casinos or merchants out there.
Reputation should be built up and its a long due process.

tippytoes

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Quote from: goinmerry on June 30, 2021, 04:14:36 PM

Quote from: Dread Pirate Roberts on June 30, 2021, 02:17:02 PM

The similiarity about this is like ponzi. they paid people to get more people, I think it's the same with that system. what's more, if it's trusted by other people, maybe other people will believe like him too.

It can't be applied or compared to a Ponzi site where being reputable is far from happening. The experience is not the same.

Here in the topic, we are talking about platforms that are running for several years then eventually will turn into scams. These sites almost can't be considered as bad sites as they remain true to their customers for several years. The reputation is already built and now trusted by anyone.

Then suddenly, !@#$%. The rest is history.

Yes, ponzi is somewhat different here. Because ponzi scheme, you can already spot it even at the beginning. Whereas, for a casino to build business throughout the years, it is not about paying other people to promote their platform. Because it is hard to fake their services if it is already going for years. Now, if suddenly someone alleges them of being scammer, we need to verify if that person is saying the truth or just ruining the reputation of the casino. We can tell if he is just falsely accusing the casino by the proofs he will give to the public.

goinmerry

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Quote from: Dread Pirate Roberts on June 30, 2021, 02:17:02 PM

The similiarity about this is like ponzi. they paid people to get more people, I think it's the same with that system. what's more, if it's trusted by other people, maybe other people will believe like him too.

It can't be applied or compared to a Ponzi site where being reputable is far from happening. The experience is not the same.

Here in the topic, we are talking about platforms that are running for several years then eventually will turn into scams. These sites almost can't be considered as bad sites as they remain true to their customers for several years. The reputation is already built and now trusted by anyone.

Then suddenly, !@#$%. The rest is history.

Dread Pirate Roberts

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Quote from: Woodie on June 25, 2021, 03:26:35 AM

But my question is why would they risk all they have invested to a few players by scamming them? I for one know the forum will side with the player that have been allegedly being scammed in most cases but how do casino's/bookies protect themselves if not terms and conditions?

The similiarity about this is like ponzi. they paid people to get more people, I think it's the same with that system. what's more, if it's trusted by other people, maybe other people will believe like him too. but when people feels get scammed and that issue spread everywhere I think more people will lose and not believe anymore unless they clarify what happened.

BITCOIN4X

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Snakes have to crawl and hide in bushes just to pounce on their prey. It seems these tropes can also emulate what those who masquerade as honest and reputable platform do, while in the end they run away most of the customer's money. I think on the forum we've seen a few case of what you're discussing, but the T&Cs are a protective shield for platform that in other cases can't be blamed.

Site terms and condition sometime also become things that are ignored by gamblers such as using a VPN or other thing that are considered violation. Some of the big wins that violate TC have been discussed earlier. At this point, I think the site will win even if the gambler can't accept it.

paxmao

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Quote from: Woodie on June 25, 2021, 03:26:35 AM

For a business to build a reputation, it takes a lot of money and time to be invested to achieve this through marketing, brand awareness and all other activities.

But my question is why would they risk all they have invested to a few players by scamming them? I for one know the forum will side with the player that have been allegedly being scammed in most cases but how do casino's/bookies protect themselves if not terms and conditions?

If people buy reviews to paint a picture of a good standing business, what would stop the competition from buying people to tarnish a competitors reputation to have an advantage in the business?

I think you are answering the question. A reputation is something very valuable - many companies have that into their balance sheet as "goodwill" or "intangible capital" and some companies worth are only their reputation such as Law firms, advisors, etc.. What could drive a company to burn its reputation in a short time? I guess that massive profits. This happened with the auditors of Enron for example. They choose to ignore the shit that was obviously floating around and when Enron busted, they nearly dissapeared.

uneng

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Quote from: Chato1977 on June 30, 2021, 06:50:04 AM

Reputation is nothing when we talk about money , even how long they build the reputation and name but there is an involving High amount means the money will be the main objective and the reputation may seems to be not existing .

You still need reputation to make money. Who is going to hire your services, spend at your business or even work for you if you don't have any reputation or a negative one?
I believe what happens nowadays is that many people get their reputations through dirty ways and since money is the most important thing in modern world, they actually buy their status instead of building it step by step from the bottom. Maybe that is what you mean.

carlfebz2

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Quote from: acquafredda on June 30, 2021, 10:11:44 AM

Brand reputation is one of the most critical aspects of a marketing strategy and yet it is constantly underestimated. Everyone focuses on launching a successful brand identity and then forgets about it, convinced that it will always stay that way.
But keeping a high brand reputation is a constant effort, from the quality of each products or services, to customers' experience before, during and after buying from a company, to comments on social media or industry forums, to responses to any unexpected slips.
All this can ruin or build a great reputation.

Its just one of the things that should be maintained on and not just really good when the company was just starting up.They do really need some consistency when it comes to the service given into the public.

Reputation cant really be directly when you had just launched and giving out your best as a business owner to retain as much as efficient as possible and in case if there would be some problems like reputation
degradation or false claims then better get yourself prepared on that one.

Competition is high and you would really be expecting those kind of things which would possibly ruin up your reputation even if you arent doing the thing.

acquafredda

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Brand reputation is one of the most critical aspects of a marketing strategy and yet it is constantly underestimated. Everyone focuses on launching a successful brand identity and then forgets about it, convinced that it will always stay that way.
But keeping a high brand reputation is a constant effort, from the quality of each products or services, to customers' experience before, during and after buying from a company, to comments on social media or industry forums, to responses to any unexpected slips.
All this can ruin or build a great reputation.

owengtam09

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It needs to take years before building a reputation and break it in a second, not just only applied in gambling but it applies to most in our lives. Even here in the campaign, we need to build their trust for a long time but we can break it in just a second.

If a gambling site wants to stay the trust of its clients (gamblers), then they need to help it out once their gambler is having a problem with their site or any transaction involved in their site.

Alisha-k

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Most times competition is what makes some reputable gambling sites maintain their standards but in an environment where there is no competition it more likely that such companies decide how the run their business without minding how their customers feels. Although online casinos is increasing daily and we hope to see lots of improvements as time goes on.

AicecreaME

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Quote from: molsewid on June 30, 2021, 07:16:45 AM

Quote from: michellee on June 30, 2021, 06:30:36 AM

The fake reviews will not have a chance to trick or slander the casino because the casino will try to defend and proves that they are not guilty. Even they will try to investigate it to find which people want to get them down.

The reputations can go away with one mistake and everything that they build from a long time ago can ruin. That is why the casino will not trying to make a mistake and they see a problem, and they will help their customer to solve the problem.

You're absolutely right about it mate, building a good reputation for a gambling business really takes years and if they managed to earn a good reputation they will certainly do anything to protect it even fake reviews will not justify the a gambling business once they have a good reputation standing. For sure once it has an anomaly that would going to drag down the name of the institution every representatives of the gambling business would really going to find out the solution to the problem and would not let their gamblers or players feel the problem too.

A single negative news or review won't ruin a good reputation of a gambling site, because many of its supporters would react about it depending that the rumors are not true and the gambling site would prove it that they're clean, simple as that.

A mere accusation without any solid proof will never be accepted as a fact to crumble down a certain business, it takes a lot of legal process before coming to a conclusion whether they are guilty or not. Long running online casinos would never scam or do anything foul play to ruin their reputation, in my opinion.

molsewid

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Quote from: michellee on June 30, 2021, 06:30:36 AM

The fake reviews will not have a chance to trick or slander the casino because the casino will try to defend and proves that they are not guilty. Even they will try to investigate it to find which people want to get them down.

The reputations can go away with one mistake and everything that they build from a long time ago can ruin. That is why the casino will not trying to make a mistake and they see a problem, and they will help their customer to solve the problem.

You're absolutely right about it mate, building a good reputation for a gambling business really takes years and if they managed to earn a good reputation they will certainly do anything to protect it even fake reviews will not justify the a gambling business once they have a good reputation standing. For sure once it has an anomaly that would going to drag down the name of the institution every representatives of the gambling business would really going to find out the solution to the problem and would not let their gamblers or players feel the problem too.

Topic: It takes years to build a reputation and seconds to break it - page 10. (Read 3391 times)