Let’s talk about the concept of risk and where we’re headed with our platform.
Risk; It's what keeps life interesting. If the future was known ahead of time, what fun would that be? The idea of uncertainties of what is yet to come lies at the crux of all that makes being mortal so enjoyable for the brief period of time that we exist. This concept is at the heart of every gambling product that has ever existed.
The ability to be able to quickly reap incredible rewards in short time frames is what makes gambling so addictive and entertaining. The thrill of the known and the chance of being that lucky person who makes it big. This form of gambling transcends borders, language and culture as well as reinvents finance in means that have never been seen before. Profit and ideals have been forming a weird mashup across teams that have collaborated from different parts of the world to establish a new order of currency. That currency is Bitcoin.
What was once a hackers currency known for only its uses in the darknet is now creating massive discussions in enterprise board rooms and government parliaments. Revolutionary code sculpted for the people delivered with the least cost and accessible to those with those most basic of technology - that is Bitcoin. The reason Bitcoin has become so successful is because of its utility, simplicity of use and its decentralization aspect. Gambling and Bitcoin intersect in a fashion that is rarely seen in other industries.
Betting often requires high frequency of money and prize pools require quick transactions around the globe. A simple betting system with a global user base can almost be seen as global stock settling house except this time the winnings are accessible to the individuals around the globe. Such a system should possess the highest level of integrity enforced by code (Smart Contracts) and absolute transparency made accessible through an open ledger with the ease of scalability to handle millions of transactions within a day's time frame (Blockchain Technology). This system we are developing, a system of betting and gambling will be one of the largest experiments in the fintech sector constantly providing data for analysts to see behavioral patterns and the nature of real time settlements. As technology such as smart contracts and Dapps become the defacto standard one can’t help but wonder what space remains to be innovated with them.
One of the possibilities remains for the whales to insure some of the tinier bets. Instead of a larger users needing to gamble 10,000 times themselves they could buy the rights to 10,000 bets and wager on the house to win instead. While this might sounds a little strange or impossible, this is exactly the kind of thinking that went behind mortgage backed security. However, in our case the event will be publicly visible to anyone using the platform and the insurer would have access to his funds in a matter of minutes from settlement.
What's being built here is not solely a betting platform but a scalable transaction system that offers real time settlement to individuals around the world. What could be build on top it is boundless in opportunities.
Shogdite will be following up tomorrow to elaborate on some of our ideas on the platform, however for now I will do my best to answer some questions.
@TalesfromtheCrib: Unfortunately we cannot give you a refund due to the nature of our sale. We previously stated to only send in Bitcoin that you would be putting on the books. For example, it is unfair for you to be refunded. What if you had deposited 30 BTC and put them on the books causing others to shift their orders higher and then asked for a refund? Please understand why we cannot process this request.
@BigBadBull: The bonuses officially were marked to start at 14/6/2016 0:00 GMT, so 240 hours after this time. You’ll have to work that out for yourself in your own local timezone.
@menace.bit: Our primary focus as per our roadmap focuses on dice based games. We’ll be opening up to other casino type games later on in the future.
@qiman: You may partake as you’re two different people. Also, please send us the Mandarin translation through a PM.
@qiwoman2: Hey, get well soon and take care! When you’re ready, please contact as and we will work with you on the facebook at your own convenience
@coinmenace: 33.5 million coins, the price for LIR/BTC will be determined based on how people place orders in the book. Therefore, you will decide for yourself how much you end up paying for them. Just ensure your order stays within the black.
Today was a crazy day, there was a lot of spam in the thread and a lot of disrespect being thrown around both ways. People from both sides of the argument for and against the project overstepped their bounds in terms of arguing and bickering with one another. Please refrain from childish acts like posting in big red letters or bickering in our thread. Shogdite accidently made this an unmoderated thread. We could as many coins probably would request this thread be locked and moved to a moderated thread, however we would like to avoid that if possible so please keep all discussions in the future civil and mannerly. Also, please do not make any accusations without a basis for your claim, doing so only aggravates others and is not useful to the conversation.
A big thank you to our 100+ investors, supporters and followers. We appreciate the support and love that you’ve shown towards us in our first crypto venture. We will continue to serve you diligently in the future.
Thanks, and see you all tomorrow.
