Topic: Rollbit Casino loosing value due to Licensing Ambiguity amongst users - page 2. (Read 674 times)

Issues on the mother utility would be a factor but so do the market itself. Most of the tokens yesterday or recently are in sudden red marks and that might be because of mnipulation, but ofcourse that would be another story for this topic. License indeed will give assurance to the players but keep in mind that there are platforms which are not licensed but still having a good reputation in this industry. FUDs simply work in a single snap for those who are new in this industry in general.
Insurances I guess won't work in gambling especially with crypto based gambling platforms. Regulation won't worm that simple given that these blockchains are not regulated in the first place. A site being licensed means regulation as well but limited to some aspects; perhaps withdrawals wherein not all kinds of transaction would be taxed such as with fiat based ones. License would only signify that the team won't run from its investors or players instanly 'coz they could be sued right after.

Actually licensing is for legalization of casinos, the license is not an insurance, since it's quite hard for licensers to control every single casino they give license to. So, I assume, there will be some different ways to bring legalization of online casinos. Maybe Curacao License Board will bring some new products, which would be not only license, but also strong control and/or insurance as well...

I don't think there was really much of a problem at all to begin with.  And as said, it was prolly just the Curacao Gaming Control Board finding something offered at Rollbit that's outside of the scope of the license, thus taking it a wee while to renew the license.  No one is getting scammed, no one is having their money being taken from them.  It's just a standard procedure but with a hiccup and a delay.  That's all.

And it's funny how the news from Coindesk made it all look like something really bad was going on.  These fkn journos are the worst.

I think it's just a matter of expired license and if it's resolved soon and the license issue is resolved, I'm sure the campaign won't be delayed or closed.

It's natural for their RLB token holders to sell all the tokens they hold on the grounds that they are afraid that if a problem occurs as has happened in the past with other companies and I also believe that if the Rollbit company immediately solves this problem, it will definitely get better soon.
it's just that right now it's possible that the Rollbit company is planning something that's best for the future of the casino's reputation.

I think that we all already knew that the problem would be solved and each one of us already had in our heads what should be the origin of the problem, looking at what they post on their twitter account you soon realize that the center of the problem was the NFT that they are issuing, and as I posted before, not even the curacao who are very soft on this issue of regulation would not allow giving a license to a casino and then that casino starts issuing tokens without first having consulted the license provider that in this In this case, it is the curator who should authorize the casino or give instructions on how to proceed in this scenario, which shows that the casino did not have a legal department before the license renewal

this means that @wiss19 is right in some of the things he wrote, most of the time greed blinds people, the business of issuing tokens and making the naive and greedy buy a lot and keep posting nonsense like "go to the moon" It's something that makes a lot of money for altcoin creators, we all know that, just see that not in altcoin creators who didn't make a lot of money with altcoins they created, if so, it's a very small number of altcoin creators. the only losers are the buyers who spend years doing hodl or talking about things like going to the moon and after many years the only thing that comes is altcoin going to the ground

and then sell at a lot of losses, this is a cycle that will not change anytime soon until governments intervene with laws to stop anyone creating tokens and distributing them without having a legal basis, a clear legally registered use, and punish the creator of the token and altcoin when the price of the altcoin or token is worth nothing, only with laws and that will stop a lot of things that have harmed investors in this market. the casino is reliable, I don't think anyone has any doubts about that, but this issue of casino currency is another dark subject

Between having a license with no reputation and no license but having a good reputation I choose the latter I'm sure the majority of gamblers will choose it too, Rollbit has been with us and still doing ok are we going to dump it because of the license when the majority of us here valued reputation than the license.
Rollbit announced that they will fix the issue and they are one casino that will fulfill their promise, so OP's title is not a fact and in the long run, they will eventually get their license renewal.

rollbit team is moving fast to tackle FUD everywhere about their casino even now their token value is getting better but keep in mind that anytime FUD will always attack casino sites so this will be an important lesson for rollbit team to keep their name safe i.e. with attention even a little thing about their site as an example about licensing and stuff, I'm sure they can handle this all well

There is a big difference between a random online gambling site and a reputable one, and the difference is quite evident. They were able to tackle this issue and resolve it, whereas if this was a random online casino, it would have led to their downfall, by the way, I had no idea Rollbit had their own token, the price action has been awful so far.


Currently, I can only see $0.01 through $0.06 dollars; this is a very poor performance, they need to implement more use cases or else there will be no point in having the token at all.

The token is running on the Solana blockchain, and that's not so good judging from a few problems that solana faced since 2022, random shut down, FTX massive sell off, also they need a better CEX listing, Rollbit was never a decentralized gambling platform, I don't know what they decide to stay on DEX only.

sometimes things like this needs to happen so they can prove the legitimacy and their capacity in solving problems in many ways and this also add respect to the team and management as the problem process are coming.
Rollbit is a serious business and I believe that they are one of the most trusted and most competent in this business and in this way I will keep using the site and play with the money i can afford to risk and lose.

They have already solved the issue but for me also it was not a problem as the team has responded to the matter in thread while giving assurance to the community they will renew it shortly.After few changes in NFT they have acquired back the licence which is good on the part so community has gain trust on them.

yes maybe because RLB token is only available on solana network and Dex exchange, maybe if on CEX market of course they will be more known again, so far RLB price is showing positive trend considering the clarification from Rollbit team about license issue to prevent and face all FUD who try trying to bring down those who take advantage of the moment to seek advantage of this problem.

Rollbit has been successfully renewed their license, as you can check it yourself by visiting the side and scroll into the bottom page. Rollbit Coin price was increase after Rollbit announce this tweet, so I don't think we should need to worry about Rollbit reputation, they're big and have a lot improvements so far especially by following the current trend.

For me license problem isn't a big deal, it's different if the case about lawsuit by SEC.

Honestly, I don't think the down tendency, as you called it is peculiar to this Rollbit's token, aside the fact they are having the licensing problem as stated, one major problem casinos tokens have in general is that they lack utilities, that is significant usecase, most times, I personally see no reason why casinos should even have a token in the first place, aside speculations, which is really not a usecase..
Check out
BFG
FUN etc they are all down, and it's normal because those casinos don't have any problem at the moment, RLB is down, and it seems to be making headline simply because the casino is going through some issues, assuming not for this issue, we all would have considered this down moment a normal thing too.

Yeah, I am also expecting a pump once the issues are resolved, but I honestly do not think the pump will last for the long term, since like I said before, casino tokens are speculative tokens, they have no real usecase to sustain its price and keep it relatively high when it pump, so thing here is buy it when it's low, and sell it immediately it pump, I never would hold casino tokens for long term, except am holding it waiting for bull season.

Rollbit still has a good reputation despite the issue. Yes, they have been providing good services with their features for a long time and I'm sure that they will polish everything soon but we can't blame the users who are panicking because of its license matter. However, I believe that they won't let their casino's reputation ruin because of this. Knowing Rollbit, it has good management and a team behind it so they will surely fix this.

They will surely address this concern, Rollbit is still one of the best crypto gambling site and I don’t know if this is an attack from its competitor but I hope Rollbit to survive on this. There’s a lot of other good site that don’t have a license but still manage to operate well, If Rollbit chooses this way maybe this is for the benefit of everybody.

^ It is so sad to know this issue about them but I hope that it will be settled soon.
Rollbit has been here for years and I don't have a doubt it will make a shady activity (not because I am promoting them). The campaign was still there are they were willing to pay for each participant which means they want to continue their business here.
Whatever the reason, the Rollbit reputation was still there and that is only the license, the most important are they still a reputable casino.

I just checked the price of the token and I must say that I agree with you that any serious casino like this one should not have much problem to get this issue solved, I also must admit that the price is not behaving as good as it should, specially for those who may seek for a long term investment. The time for selling was several weeks ago and it looks like it going through a down tendency.

Hopefully, when the regulation issues get settled it could translate to a boost for the price and long term stability/ a solid bottom from their investors can grow from.

First, let me state that I didn't actually know that rollbit had their own token just like BetFury and freebitco, this is actually my first time of getting to know this even though I've known Rollbit for over a year now.

And speaking on the issue, what I have to say is that, Rollbit is a big casino, and I trust that they will find a lasting solution to the licensing issue, I don't think it's something the community need to worry much about, and this is even evident in the RLB token, as checking on coinmarketcap now shows that the token have recovered very well in its price, compared to what it was worth some few days back.

Not all the time and honestly it is really just that a normal approach into those people who dont have an idea on how license  do works.Of course if a certain business or platform is really that having that kind of set up
on which it is really that possible for those KYC but we know that they arent implemented on the time that you do register.They would be only asking it out if ever there would be some verifications or something that needs to be solved or find about.The good thing on dealing with these regulated places is that on the time that they do ran away, then there's still chance for its owners to be caught or traced up.
Unlike into those places who arent that no having license then they could really cover up their tracks and gone forever.

some gamblers don't like license because license means they need to submit kyc to the casino in case of any issues or when the casino asks them to. right now, rollbit already make a name in this industry, so i don't think gamblers will go away just because of the license issues. if the casino itself is still the same, and not screwing their players, why would players go away? some of the established casinos in the forum don't have license and yet, they still have their loyal patrons on their site.