trustdice.win Offering Unrealistic Returns on Staking their Token (TXT)

mak013

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Quote from: Russlenat on August 02, 2024, 08:50:07 AM

Quote from: mak013 on August 02, 2024, 07:52:10 AM

But in the real world usual situation is that team sell their tokens and as the result the token cost nothing.

This is a pure scam. Selling their large number of tokens, which would result in a decline in the price and eventually cause panic among investors, is something that can't be done if the owners believe in the future of the project. That's the risk, though, as we can't deny it happens with some projects. However, considering the reputation of TrustDice, which has been in the forum for a while now, I think they won't do that. But I agree with what you posted: manage the risk.

This is situation that we must think about. I always say that we can`t think that someone willn`t cheat us because he is well-known. It is true for real world and for cryptocurrencies it is much more serious.
Probably i can invest but like a HYIP - with fast withdraw deposit, but i need at least 5% daily for it, better 10%. After it it would be interesting for me to invest in well-known cryptocurrency casino.

iv4n

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Quote from: davis196 on August 01, 2024, 02:42:48 AM

They might be legit today, but they could exit scam tomorrow, leaving the gamblers with a bunch of worthless shit-tokens.

TrustDice is a very old casino and one of the first crypto casinos with their own in-house token. I used to play there for a while years ago, and I have a couple thousand tokens from that. That amount is too small for anything, I can't remember why I stopped playing there, but they are still here and I doubt they will close their doors and run away. I guess any service could become a scam pretty quickly, there are no guarantees, but I doubt that this casino will do that... they didn't show any signs they are doing bad. They have some stupid requirements, but looks like they have their community and doing pretty fine all this time, they would have disappeared long ago if it's the opposite.

Russlenat

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Quote from: mak013 on August 02, 2024, 07:52:10 AM

But in the real world usual situation is that team sell their tokens and as the result the token cost nothing.

This is a pure scam. Selling their large number of tokens, which would result in a decline in the price and eventually cause panic among investors, is something that can't be done if the owners believe in the future of the project. That's the risk, though, as we can't deny it happens with some projects. However, considering the reputation of TrustDice, which has been in the forum for a while now, I think they won't do that. But I agree with what you posted: manage the risk.

mak013

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Quote from: Mr.right85 on August 01, 2024, 08:38:22 PM

Quote from: Charles-Tim on August 01, 2024, 09:02:36 AM

Even if this token will not collapse, it could be like the high yield return scam. I have seen a token that offers 10% daily reward before, but if you mistakenly invest in it, the price of the token the following day would have reduced more than the 10% daily profit that you will earn. At last, the investors are losing. I think this token would become something like that. The reward is too much and it would be avoided. What we should be concerned about is not about if the token can collapse, but about how it is a scam.

It’s an interesting aspect to these tokens, they are issued rather then being mined and as such, the level of control over it is next to none. Given that they are not some highly prioritized tokens, only available on a couple of DEX and local sites to the token, you are able to use and trade it as it applies. The lack of priority on the token as to major exchanges simply means, a low dilution cap and as such, little changes can result in drastic results to its valuation.

It is standard situation for tokens. You don`t mine it and the team can allocate it how they want. The same time, here we see that trustdice wants to use it to promote casino and to attract some additional money. In the ideal world, they will burn some tokens time by time and decrease the total amount of it. The price will grow up and you can get profit even without 2% daily. But in the real world usual situation is that team sell their tokens and as the result the token cost nothing.
You can risk, bull run is still awaiting, but you have to calculate risks.

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Quote from: Charles-Tim on August 01, 2024, 09:02:36 AM

Quote from: davis196 on August 01, 2024, 02:42:48 AM

Is there any risk, that this TXT token would collapse in the future?

Even if this token will not collapse, it could be like the high yield return scam. I have seen a token that offers 10% daily reward before, but if you mistakenly invest in it, the price of the token the following day would have reduced more than the 10% daily profit that you will earn. At last, the investors are losing. I think this token would become something like that. The reward is too much and it would be avoided. What we should be concerned about is not about if the token can collapse, but about how it is a scam.

It’s an interesting aspect to these tokens, they are issued rather then being mined and as such, the level of control over it is next to none. Given that they are not some highly prioritized tokens, only available on a couple of DEX and local sites to the token, you are able to use and trade it as it applies. The lack of priority on the token as to major exchanges simply means, a low dilution cap and as such, little changes can result in drastic results to its valuation.

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Quote from: memehunter on July 31, 2024, 09:00:06 AM

You are right; there is too much risk. One more thing to consider is that you might have to wager 5 times your investment before cashing out if it's your first deposit. If you have already fulfilled the first deposit wagering requirements, you might still need to wager 2 to 3 times, which is also a concern since Trust Dice is not clear in their policy regarding deposit wagering.

I know they have the 5x wager requirement listed in their terms of service but what do you mean by another 2-3 times? does this mean overall, wager requirement becomes 7x-8x? if so and it's a personal experience, I'm interested in hearing more. You may wanna start another thread with supporting evidence attached.

Quote from: CryptSafe on July 31, 2024, 09:20:36 AM

Quote from: coin-investor on July 26, 2024, 11:59:28 AM

Quote from: Potato Chips on July 25, 2024, 07:06:56 PM

Quote from: coin-investor on July 25, 2024, 11:30:23 AM

Possibly the the support must have made a mistake in explaining to OP how the system works through the returns explanations. I see the rate too high for a return on staking. Most casinos I have researched on have not really put up such percentage as a reward on stake for just a day. Although OP has a proof and point here to hold onto based on the live conversation with the support but however, having a look at the term's and conditions of service would be of good importance to OP if OP looks into it. That would guide OP better in drawing conclusions wether to go ahead in investing or not.

Honestly, I don't think it was an explanation error as it doesn't look like the support actually understand how it works lol hence they just went with the calculator results. As previously stated, 2% daily would be impossible with the total amount of rewards being distributed. The calculator needs to be tweaked.

mak013

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Quote from: memehunter on July 31, 2024, 09:00:06 AM

Quote from: mak013 on July 31, 2024, 07:04:46 AM

Maximum allowed in calculation - 2.000.000.000 TXT. If it is real - maximum you ca invest is $2000(as their calculator think)
In the payout history the total amount is 3.600.000.000 TXT - $3.600 invested all the investors summary.
I don`t sure that there is such token on UNISWAP which they recommend to control the price of the token.
So decide yourself, but as for me - too much risks.

You are right; there is too much risk. One more thing to consider is that you might have to wager 5 times your investment before cashing out if it's your first deposit. If you have already fulfilled the first deposit wagering requirements, you might still need to wager 2 to 3 times, which is also a concern since Trust Dice is not clear in their policy regarding deposit wagering.

I don`t think that they will repeat wagering requirements, but it doesn`t matter for me. I don`t interest in it casino and we only thing it could interested me - get profit from investment. But as i see i can`t get serious profit, but have serious risk just at start.

Charles-Tim

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Quote from: davis196 on August 01, 2024, 02:42:48 AM

Is there any risk, that this TXT token would collapse in the future?

Even if this token will not collapse, it could be like the high yield return scam. I have seen a token that offers 10% daily reward before, but if you mistakenly invest in it, the price of the token the following day would have reduced more than the 10% daily profit that you will earn. At last, the investors are losing. I think this token would become something like that. The reward is too much and it would be avoided. What we should be concerned about is not about if the token can collapse, but about how it is a scam.

davis196

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Quote

They are offering 2% daily returns (no time limit) and you can unstake and cash out any time. Is it too good to be true? I seek advice from reputed and knowledgeable members of this forum.

I've never used trustdice and I don't know whether their TXT token has a stable price.
You could get 2% per day for staking a worthless token but that wouldn't make any sense, because the token would be pretty much worthless, when you want to sell it for fiat or BTC. Is there any risk, that this TXT token would collapse in the future? I think that such risk exists for any token, that is being issued by centralized crypto companies. They claim that the token is backed by cryptocurrencies like BTC, ETH or stablecoins, but how much do you trust such claims? At the end of the day, all crypto casinos are centralized crypto companies.
They might be legit today, but they could exit scam tomorrow, leaving the gamblers with a bunch of worthless shit-tokens.

Wiwo

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Quote from: junder on July 31, 2024, 09:23:04 AM

Quote from: Cantsay on July 24, 2024, 09:13:05 AM

I don’t have much knowledge about this staking of TXT for. Period of time to earn some dividends but I feel it would have been better if you had asked this question in their Ann thread.

I tried shuffling through ninjastic to try to see if I’d see any conversation that was held that’s related to this in their Ann thread but none of them were clear to me.

Concerning the issue of it being too good to be true, I’d still trust them more than other sites offering the same thing because they do have a means to generate the funds (through gambling) and also you’ll have to wager some amount to be able to get the TXT in the first place and then stake it.

I have an account at Trustdice casino and have played a few times but it's been a while. What I know about Staking TXT is not very interesting, I only get TXT from the number of coins I have played and the staked TXT is not much. For more I reopened the Trustdice account and the percentage is small every day. In my opinion if OP are hesitant about the promised profits, it is better to try with the minimum amount, because the get rich quick scheme is just a title. You need to understand that investing in casino tokens so far has not given 100% profitable feedback.

I believe this whole thing is simple and verifiable because trust dice have a representative and the ops can reach them easily, but if the information on the amount of percentage pay is from a support team or on the terms of service of trustee then that is what it is, the next question should be what are the conditions attached before qn investors who staked on that platform get that amount in deposits?

Those are the things we should look at in other to prevent future controversy because sometimes there are rules aside from just getting the needed coins to stake to get rewarded in the amount mentioned.

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Quote from: memehunter on July 31, 2024, 09:00:06 AM

Quote from: mak013 on July 31, 2024, 07:04:46 AM

Maximum allowed in calculation - 2.000.000.000 TXT. If it is real - maximum you ca invest is $2000(as their calculator think)
In the payout history the total amount is 3.600.000.000 TXT - $3.600 invested all the investors summary.
I don`t sure that there is such token on UNISWAP which they recommend to control the price of the token.
So decide yourself, but as for me - too much risks.

You are right; there is too much risk. One more thing to consider is that you might have to wager 5 times your investment before cashing out if it's your first deposit. If you have already fulfilled the first deposit wagering requirements, you might still need to wager 2 to 3 times, which is also a concern since Trust Dice is not clear in their policy regarding deposit wagering.

Have you seen anyone that was asked to wager theirs 2 to 3 times after completing the first deposits wagering requirement? I think they are pretty clear on that term there - I haven’t seen anyone come to the forum to complain that they were asked to still wager any other time after they successfully wagered their first deposit.

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Quote from: junder on July 31, 2024, 09:23:04 AM

I have an account at Trustdice casino and have played a few times but it's been a while. What I know about Staking TXT is not very interesting, I only get TXT from the number of coins I have played and the staked TXT is not much. For more I reopened the Trustdice account and

You are pertaining to the locked TXT tokens which you can unlock slowly as rakeback on your games so the more you play the greater rewards you will get while the topic in discussion here is the Stake feature.

Quote

the percentage is small every day. In my opinion if OP are hesitant about the promised profits, it is better to try with the minimum amount, because the get rich quick scheme is just a title. You need to understand that investing in casino tokens so far has not given 100% profitable feedback.

That’s right, that 2% interest rate is just theoretical or potential interest rate but that doesn’t mean it’s the actual interest because it depends on the percentage of shares staked TXT token to the pool.

junder

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Quote from: Cantsay on July 24, 2024, 09:13:05 AM

I don’t have much knowledge about this staking of TXT for. Period of time to earn some dividends but I feel it would have been better if you had asked this question in their Ann thread.

I tried shuffling through ninjastic to try to see if I’d see any conversation that was held that’s related to this in their Ann thread but none of them were clear to me.

Concerning the issue of it being too good to be true, I’d still trust them more than other sites offering the same thing because they do have a means to generate the funds (through gambling) and also you’ll have to wager some amount to be able to get the TXT in the first place and then stake it.

I have an account at Trustdice casino and have played a few times but it's been a while. What I know about Staking TXT is not very interesting, I only get TXT from the number of coins I have played and the staked TXT is not much. For more I reopened the Trustdice account and the percentage is small every day. In my opinion if OP are hesitant about the promised profits, it is better to try with the minimum amount, because the get rich quick scheme is just a title. You need to understand that investing in casino tokens so far has not given 100% profitable feedback.

CryptSafe

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Quote from: coin-investor on July 26, 2024, 11:59:28 AM

Quote from: Potato Chips on July 25, 2024, 07:06:56 PM

Quote from: coin-investor on July 25, 2024, 11:30:23 AM

But if you check the conversion, it says $100 worth of TXT will make $2 worth of TXT profit. Correct me if I'm wrong about my conversion, supports use the symbol $, so 100 million of TXT is worth $100, and you make $2 of TXT OR 2 million TXT.
It's a very profitable plan if you invest $500 worth of TXT

[image]

The argument was that the calculator isn't close to accurate.

This was the rewards distributed yesterday. With these amounts, I don't think anyone is getting 2 bucks per 100 bucks daily.

But honestly, I'd be too anxious to touch this one if the 2% daily is true lol as I've only seen such numbers from scummy folks.

So, we can say that the support made an error in his explanation because the support was specific in using the symbol $ on staking and profit; I agree that a 2% daily profit is what we often see reported in the scam section because it's not sustainable.

I think it better for Trustdice support to come down here and offer an explanation, on a positive note we came to know this TXT of Trustdice, we who do not play on Trustdice are now aware of the existence of this token, so we have BFG, Hunny, Fun token and this TXT token that are backed by casino platform.

Possibly the the support must have made a mistake in explaining to OP how the system works through the returns explanations. I see the rate too high for a return on staking. Most casinos I have researched on have not really put up such percentage as a reward on stake for just a day. Although OP has a proof and point here to hold onto based on the live conversation with the support but however, having a look at the term's and conditions of service would be of good importance to OP if OP looks into it. That would guide OP better in drawing conclusions wether to go ahead in investing or not.

memehunter

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Quote from: mak013 on July 31, 2024, 07:04:46 AM

Maximum allowed in calculation - 2.000.000.000 TXT. If it is real - maximum you ca invest is $2000(as their calculator think)
In the payout history the total amount is 3.600.000.000 TXT - $3.600 invested all the investors summary.
I don`t sure that there is such token on UNISWAP which they recommend to control the price of the token.
So decide yourself, but as for me - too much risks.

You are right; there is too much risk. One more thing to consider is that you might have to wager 5 times your investment before cashing out if it's your first deposit. If you have already fulfilled the first deposit wagering requirements, you might still need to wager 2 to 3 times, which is also a concern since Trust Dice is not clear in their policy regarding deposit wagering.

mak013

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Quote from: memehunter on July 26, 2024, 07:12:27 PM

So, I was right in my hunch that it is indeed too good to be true, considering:

1. The token price might crash.
2. They can revoke or decrease payouts at any time.
3. While the platform in question running away with our money (or claiming to be hacked) is less probable (considering their reputation), I would say it's still a possibility.
4. Payouts can decrease if the site is not getting profits from the dice game.

This is exactly why I posted this in this amazing forum to get some insight on this 'get-rich' investment scheme. Now, it would be great if TrustDice could jump in here and clarify things as already suggested by other members. Until then, I am not going to invest anything and will advise others to do the same.

I can add something else that i researched.
Maximum allowed in calculation - 2.000.000.000 TXT. If it is real - maximum you ca invest is $2000(as their calculator think)
In the payout history the total amount is 3.600.000.000 TXT - $3.600 invested all the investors summary.
I don`t sure that there is such token on UNISWAP which they recommend to control the price of the token.
So decide yourself, but as for me - too much risks.

JiiBs

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Quote from: memehunter on July 24, 2024, 08:06:16 AM

They are offering 2% daily returns (no time limit) and you can unstake and cash out any time. Is it too good to be true? I seek advice from reputed and knowledgeable members of this forum.
Below is the proof;

When it’s too good to be true like you’ve already acknowledged, you leave it be. This is what is well known by any security concerned crypto investor. Don’t go hunting what’s too good to be true and end up loosing everything. If it’s got value, it wouldn’t be so easily given away.

You might want to move this thread to the reputation board though, I think it’s the best place to be.

AmoreJaz

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Quote from: memehunter on July 26, 2024, 07:12:27 PM

So, I was right in my hunch that it is indeed too good to be true, considering:
1. The token price might crash.
2. They can revoke or decrease payouts at any time.
3. While the platform in question running away with our money (or claiming to be hacked) is less probable (considering their reputation), I would say it's still a possibility.
4. Payouts can decrease if the site is not getting profits from the dice game.

This is exactly why I posted this in this amazing forum to get some insight on this 'get-rich' investment scheme. Now, it would be great if TrustDice could jump in here and clarify things as already suggested by other members. Until then, I am not going to invest anything and will advise others to do the same.

The above-mentioned items are common when it comes to staking of any token or coin. As the price of your coin holding depends on the market price, you are just left to wish that they will increase over time. Hence, the decision to stake their token is on your hands. And whatever the repercussion will be, you will shoulder its aftermath. This is not only true to casino tokens, it is the same as with other regular tokens or coins offering staking rewards. The mentioned risks are always there, and it is for you to gauge whether it is worth your time and resources to invest in a staking project.

Odusko

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Quote from: _act_ on July 25, 2024, 04:50:11 AM

Quote from: Coin_trader on July 24, 2024, 09:02:21 AM

Quote from: memehunter on July 24, 2024, 08:06:16 AM

They are offering 2% daily returns (no time limit) and you can unstake and cash out any time. Is it too good to be true? I seek advice from reputed and knowledgeable members of this forum.

Do you get the reward? I don’t see a problem here if they pay user based on the percentage they declared. It’s their business and probably your reward is on TXT tokens too which they have tons of supply.

The highest reward that I have seen before which I went for and that I am still doing is my bank 20% APY earning. The money will be in my bank account and the earning would be credited daily. When I first saw this at the beginning of this year, I even doubted it. Yet that is 0.0547% daily profit. If a profit is as high as 2% daily, I do not know how that site is, I can not invest. When I first saw this thread, what I thought was that maybe the OP is accessing a fake Trustdice site.

We should not get carried away all the time because of what the figures in returns are as regards to staking of any coin and in any platforms, although Trustdics is a well known casino so the possibility of being able to pay investors such rewards is high and I won't doubts that possibility, but then there is a need to read all the entire terms and conditions and what are required to make such total daily 2% earnings, most comments have pointed to a single direction which is the discussions around the possibility of Trustdics being able to pay such rewards as promised, but not many have taken the time to State what the term and condition that an investor must meet up with before he she can earn such amount in rewards on staked coins.

memehunter

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So, I was right in my hunch that it is indeed too good to be true, considering:

1. The token price might crash.
2. They can revoke or decrease payouts at any time.
3. While the platform in question running away with our money (or claiming to be hacked) is less probable (considering their reputation), I would say it's still a possibility.
4. Payouts can decrease if the site is not getting profits from the dice game.

This is exactly why I posted this in this amazing forum to get some insight on this 'get-rich' investment scheme. Now, it would be great if TrustDice could jump in here and clarify things as already suggested by other members. Until then, I am not going to invest anything and will advise others to do the same.

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Quote from: Potato Chips on July 26, 2024, 06:20:32 PM

Quote from: coin-investor on July 26, 2024, 11:59:28 AM

So, we can say that the support made an error in his explanation because the support was specific in using the symbol $ on staking and profit; I agree that a 2% daily profit is what we often see reported in the scam section because it's not sustainable.

Yeah, I'd say so as well. I had my fair share of encountering support agents who don't know the platform fully well so this could be another case of that -- they're probably outsource folks. Though I guess we can cut this one some slack because of the calculator.

Quote

Some support agents, although a few don't know much about the project. In some cases, the support agent deliberately gives unclear information to lure people to bet or participate in what they do not actually understand.
Besides, I don't think that anyone could hold the support agent responsible for misinformation when the ToS and FAQs are available.

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Quote from: Coin_trader on July 25, 2024, 09:13:19 AM

Quote from: _act_ on July 25, 2024, 04:50:11 AM

The highest reward that I have seen before which I went for and that I am still doing is my bank 20% APY earning. The money will be in my bank account and the earning would be credited daily. When I first saw this at the beginning of this year, I even doubted it. Yet that is 0.0547% daily profit. If a profit is as high as 2% daily, I do not know how that site is, I can not invest. When I first saw this thread, what I thought was that maybe the OP is accessing a fake Trustdice site.

I really doubt that casino can keep up paying 2% daily on investment. I will be depositing now for investment if this is true but I have speculation that this all just a misunderstanding. Even the support reply on his question is just a rough estimate on the maximum profit he can get and not the actual profit.

I think that the 2% per day interest is the original profit sharing that decreases depending on the number of staked tokens on the pool. They probably sharing on the pool that rewards 2% profit if only 1 person stake.

I participate to a lot of 2% investment scheme before and all of falls down its because its not sustainable. That's the reason there's some confusion on my side regarding on how trustdice could able to sustain this since its like for this kind of offer they are running a ponzi schemes with this. But hopefully every just confuse about the offer and also the support answer to this questions been asked by people.

So it will be good if they clarify so that lots of people here would get a clear answer coming from them. But also that's what I know from staking which reward decrease over the time so let see if lots of people would confirm and give more valuable answer thru what they experience if they try this offer.

Perfectbaby

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2 percent daily returns seems too real to be true though I don't know if they have token or not but to me i don't trust on anyone even representative can do what is cultured for. Most times it good to contact a reliable personnel.

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Quote from: coin-investor on July 26, 2024, 11:59:28 AM

So, we can say that the support made an error in his explanation because the support was specific in using the symbol $ on staking and profit; I agree that a 2% daily profit is what we often see reported in the scam section because it's not sustainable.

Yeah, I'd say so as well. I had my fair share of encountering support agents who don't know the platform fully well so this could be another case of that -- they're probably outsource folks. Though I guess we can cut this one some slack because of the calculator.

Quote

I think it better for Trustdice support to come down here and offer an explanation,

That would be the best case scenario indeed. Lemme try to get their attention as they seem active-ish, hopefully they chime in this thread!

coin-investor

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Quote from: Potato Chips on July 25, 2024, 07:06:56 PM

Quote from: coin-investor on July 25, 2024, 11:30:23 AM

But if you check the conversion, it says $100 worth of TXT will make $2 worth of TXT profit. Correct me if I'm wrong about my conversion, supports use the symbol $, so 100 million of TXT is worth $100, and you make $2 of TXT OR 2 million TXT.
It's a very profitable plan if you invest $500 worth of TXT

[image]

The argument was that the calculator isn't close to accurate.

This was the rewards distributed yesterday. With these amounts, I don't think anyone is getting 2 bucks per 100 bucks daily.

But honestly, I'd be too anxious to touch this one if the 2% daily is true lol as I've only seen such numbers from scummy folks.

So, we can say that the support made an error in his explanation because the support was specific in using the symbol $ on staking and profit; I agree that a 2% daily profit is what we often see reported in the scam section because it's not sustainable.

I think it better for Trustdice support to come down here and offer an explanation, on a positive note we came to know this TXT of Trustdice, we who do not play on Trustdice are now aware of the existence of this token, so we have BFG, Hunny, Fun token and this TXT token that are backed by casino platform.

Potato Chips

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Quote from: coin-investor on July 25, 2024, 11:30:23 AM

But if you check the conversion, it says $100 worth of TXT will make $2 worth of TXT profit. Correct me if I'm wrong about my conversion, supports use the symbol $, so 100 million of TXT is worth $100, and you make $2 of TXT OR 2 million TXT.
It's a very profitable plan if you invest $500 worth of TXT

[image]

The argument was that the calculator isn't close to accurate.

This was the rewards distributed yesterday. With these amounts, I don't think anyone is getting 2 bucks per 100 bucks daily.

But honestly, I'd be too anxious to touch this one if the 2% daily is true lol as I've only seen such numbers from scummy folks.

coin-investor

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Quote from: FinneysTrueVision on July 25, 2024, 01:47:42 AM

The numbers don’t really add up. The calculator says you will earn 2% but if you scroll down on https://trustdice.win/txt/payout it shows that the total rewards to stakers is less than $100 and there are over 3.6 billion tokens staked.

The confusion might be because the profit calculator assumes that 1 million TXT tokens is worth $1 when in reality it is $24 according to the exchange rate on Uniswap. If you earn $0.02 for 1 million tokens worth $24, you are only earning 0.08% daily.

But if you check the conversion, it says $100 worth of TXT will make $2 worth of TXT profit. Correct me if I'm wrong about my conversion, supports use the symbol $, so 100 million of TXT is worth $100, and you make $2 of TXT OR 2 million TXT.
It's a very profitable plan if you invest $500 worth of TXT

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Quote from: FinneysTrueVision on July 25, 2024, 01:47:42 AM

The confusion might be because the profit calculator assumes that 1 million TXT tokens is worth $1 when in reality it is $24 according to the exchange rate on Uniswap. If you earn $0.02 for 1 million tokens worth $24, you are only earning 0.08% daily.

Or it is no confusion at all, but a way to market the staking to be offering 2% daily rewards. If this is a deliberate act to make the project more attractive, then I would advice anyone not to go for it.

0.08% is a more reasonable reward and much more sustainable for the company but not as attractive as 2% daily.

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Quote from: _act_ on July 25, 2024, 04:50:11 AM

Quote from: Coin_trader on July 24, 2024, 09:02:21 AM

Quote from: memehunter on July 24, 2024, 08:06:16 AM

They are offering 2% daily returns (no time limit) and you can unstake and cash out any time. Is it too good to be true? I seek advice from reputed and knowledgeable members of this forum.

Do you get the reward? I don’t see a problem here if they pay user based on the percentage they declared. It’s their business and probably your reward is on TXT tokens too which they have tons of supply.

The highest reward that I have seen before which I went for and that I am still doing is my bank 20% APY earning. The money will be in my bank account and the earning would be credited daily. When I first saw this at the beginning of this year, I even doubted it. Yet that is 0.0547% daily profit. If a profit is as high as 2% daily, I do not know how that site is, I can not invest. When I first saw this thread, what I thought was that maybe the OP is accessing a fake Trustdice site.

I really doubt that casino can keep up paying 2% daily on investment. I will be depositing now for investment if this is true but I have speculation that this all just a misunderstanding. Even the support reply on his question is just a rough estimate on the maximum profit he can get and not the actual profit.

I think that the 2% per day interest is the original profit sharing that decreases depending on the number of staked tokens on the pool. They probably sharing on the pool that rewards 2% profit if only 1 person stake.

_act_

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Quote from: Coin_trader on July 24, 2024, 09:02:21 AM

Quote from: memehunter on July 24, 2024, 08:06:16 AM

They are offering 2% daily returns (no time limit) and you can unstake and cash out any time. Is it too good to be true? I seek advice from reputed and knowledgeable members of this forum.

Do you get the reward? I don’t see a problem here if they pay user based on the percentage they declared. It’s their business and probably your reward is on TXT tokens too which they have tons of supply.

The highest reward that I have seen before which I went for and that I am still doing is my bank 20% APY earning. The money will be in my bank account and the earning would be credited daily. When I first saw this at the beginning of this year, I even doubted it. Yet that is 0.0547% daily profit. If a profit is as high as 2% daily, I do not know how that site is, I can not invest. When I first saw this thread, what I thought was that maybe the OP is accessing a fake Trustdice site.

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The numbers don’t really add up. The calculator says you will earn 2% but if you scroll down on https://trustdice.win/txt/payout it shows that the total rewards to stakers is less than $100 and there are over 3.6 billion tokens staked.

The confusion might be because the profit calculator assumes that 1 million TXT tokens is worth $1 when in reality it is $24 according to the exchange rate on Uniswap. If you earn $0.02 for 1 million tokens worth $24, you are only earning 0.08% daily.

aioc

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Quote from: seoincorporation on July 24, 2024, 10:57:31 PM

The risk here is the market value of TXT, if we spend $100 and get $2 daily that can change if the token value drops 50% then we will be with $50 making $1/day. I'm not sure how the variable that market is, i tried to search for the token in coinmarket cap, but couldn't fund anything about it, i think isn't listed there.

It's not yet listed; you can only buy and sell it on Uniswap. Here is information about this token and where you can buy and sell it. Only gamblers who play on Trustdice are aware of this token, but it's a good opportunity for additional profit. 2% daily from a stable company is a good profit.
https://trustdice.win/blog/how-to-buy-and-sell-txt-on-uniswap

Quote

And the thing about staking is, while more coins are mined then the reward is lower. maybe today is 2% but with time that percentage will drop. I'm not sure, but it is worth reading more about the topic, because 10% 5 days sound too good to be real.

If done by an unknown company, it is a high-risk investment, but it is Trustdice, and it is on their native token, and they have a good reputation here and a good standing in the industry. I will check it later, but with this profit percentage, it's a big attraction for players to try out Trustdice.

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Quote from: OgNasty on July 24, 2024, 03:10:24 PM

Obviously this isn’t sustainable. If anyone could make 2% per day in profits, they wouldn’t need any sort of business or customers. They’d just get insanely rich and move on with their lives. Whenever you see yield promises you have to ask where the yield comes from and if it isn’t sustainable, your investment is the yield.

Probably that will decrease when more and more people are joining the program.
The computation is merely based on the 50% profit on a daily basis as per stated in the rules.

Quote from: https://trustdice.win/txt/faq

How many rewards can I receive every day?
It depends on the amount of TXT you staked. The more TXT you staked, the more rewards you will get.

The staking pool consists of 50% of Dice game profits.

At 09:00 UTC every day, a certain percentage (1% EOS, 1% BTC, 1% ETH, 1% USDT) of the staking pool will be paid to the TXT holders based on the amount of TXT they staked. You can also calculate your potential rewards on the “Stake” tab of the TXT page.

So more like the amount your stake is gonna be converted to the percentage of share IMO. At the early stage, it could be profitable, but factor such us drop of TXT value might affect your profitability since it's not yet listed in more liquid exchange like Binance.

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Am not that familiar to what is TXT staking but since trustdice is still one of the gambling site that has representative and active signature here I believe that they are in a good percent to be trusted(but also remember that even best casino sometimes have their scam exit from a long time of operation, not saying if they are one of them but consider everything before depositing and trying this offer)

but also if this is a consistent percentage to take on ? or depending in the value and the movement of TXT?

seoincorporation

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The risk here is the market value of TXT, if we spend $100 and get $2 daily that can change if the token value drops 50% then we will be with $50 making $1/day. I'm not sure how the variable that market is, i tried to search for the token in coinmarket cap, but couldn't fund anything about it, i think isn't listed there.

And the thing about staking is, while more coins are mined then the reward is lower. maybe today is 2% but with time that percentage will drop. I'm not sure, but it is worth reading more about the topic, because 10% 5 days sound too good to be real.

Odusko

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Obviously this is just a format t get the attention of investors and if you want to know better, you can go on to read the FAQ of the staking and how the system make their pay out at the end of the month and how much rewards each staked receive and what the conditions are to getting that outcome, most times we need not to take captions and headlines title serious without reading the entire body of the context.
We should not be desperate or seen as desperate in our approach to thing's as regards to investment and the potential rewards in profits, because scammers can only get to you according to you dept of desperation and greed, so if there is none of that, one will not have any issues.

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Quote from: robelneo on July 24, 2024, 05:49:45 PM

They have been doing this since last year, and Trustdice is still up. They managed to hold on to their reputation and still make a profit until now; I'm sure they will not offer that kind of return if they cannot sustain it. They are doing this to attract many players to play so they can claim their native token, TXT, and stake it.

It may look unrealistic, but not for a casino platform with a good standing in the gambling industry; I see it as a gesture of generosity to their community.

True, as I read the FAQ and the discussion, it seems the reward is dependent on the profit on a certain game (dice) and distributed to the stakers. I do think this kind of approach will be sustainable in the long run since it is based on the possible profit of dice.

The support staff probably gave a shortcut explanation which I think is somehow misleading and gives @OP confusion, the reason why this thread was created.

Quote from: Ojima-ojo on July 24, 2024, 05:22:53 PM

Sometimes those support agents are confused and can promise what is not, all you need to do is to take extra step to read through the terms of service on Trustdics because that is the only way you can determine what is uptainable in such a service or promotion, although the potential rewards of 2% is unbelievable but I know when you read through the terms and conditions you will understand all that it takes to achieve that potential rewards.

I also think that the one @OP had chatted with is confused since the information that the support agent told @OP is different from what is written on the FAQ. My initial reaction when I read their conversation was the casino can't sustain such reward but reading the faq and finding out that it was just a potential reward and not a fix reward as the agent stated changed my thought.

robelneo

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They have been doing this since last year, and Trustdice is still up. They managed to hold on to their reputation and still make a profit until now; I'm sure they will not offer that kind of return if they cannot sustain it. They are doing this to attract many players to play so they can claim their native token, TXT, and stake it.

It may look unrealistic, but not for a casino platform with a good standing in the gambling industry; I see it as a gesture of generosity to their community.

Ojima-ojo

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Sometimes those support agents are confused and can promise what is not, all you need to do is to take extra step to read through the terms of service on Trustdics because that is the only way you can determine what is uptainable in such a service or promotion, although the potential rewards of 2% is unbelievable but I know when you read through the terms and conditions you will understand all that it takes to achieve that potential rewards.

Trustdice have a good reputation here on this forum so I am sure getting information from them as regards the TXT staking and rewards calculation, ops can contact them also on their ANN thread here in the gambling board.

xGennady

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I will tell you why it sound to good to be true. You will really get 2% daily BUT in their Website they say 1 million TXT is 1$ and you will get 2% daily but in other currency so for example if you stake 1$ TXT then you will get 0.02$ worth of other currency daily but the problem is to get 1 million TXT (1$) because if you want buy 1 million TXT then it cost you 45$ in uniswap so in reality you pay 45$ but they say its 1$ and then you will get 2%(0.02$) from the 1$ daily but you have pay 45$ for this "1$"

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Quote from: un_rank on July 24, 2024, 04:37:44 PM

My first instinct will be to do more research. Find out what markets TXT is tradable, how staked coins are held and how easily can they be swapped for BTC or ETH, what is the total supply and last month chart of the token?

Answering all of these questions cannot provide convincing answers about how the platform can pay fixed returns, regardless of the investment amount. It is logical that no investment can achieve fixed returns. This means that if this feature is actually real, then anyone can become wealthy simply by depositing the token and receiving daily benefits.
I don't question the platform's reputation but some offers seem too good to be true. There may not be sufficient proof that this cannot actually be true, but compared to previous experiences, the end is always disastrous. My advice is not to follow any offer, no matter how tempting, without obtaining sufficient guarantees. In this case, the only guarantor is the reputation of the platform.

This may be the way trustdice has found to compete with the rest of the casino tokens that have become a trend. There are successful tokens, and I hope that the wave does not turn into a bubble waiting to burst.

un_rank

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My first instinct will be to do more research. Find out what markets TXT is tradable, how staked coins are held and how easily can they be swapped for BTC or ETH, what is the total supply and last month chart of the token?

It is possible to get 2% of your staked capital but still be below break even after a month if the token dips in the market.

- Jay -

ryzaadit

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It's basically from the portion profit from the casino revenue.

These mostly just potential rewards, this reward could be changed or decreased depending on the total token it's being staked or the revenue they're getting. As you can see, they mentioned "potential reward" meaning it's not fixed just potential reward in the current day.

Still can be change, and no wonder why the percentage it's kinda high (mostly not many people yet to stake, or still not many people know them yet). Like usually, more people coming early for the investing, the higher is the risk but while you came late (usually the % sharing profit revenue it's gonna to be low, because so many people already stake token or investing).

Based on their calculation potential reward, yes it's sitting on 2.07% but can these decrease ? yes......

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Quote from: Eternad on July 24, 2024, 12:55:15 PM

Quote from: Obari on July 24, 2024, 12:15:24 PM

Take the opportunity and since it’s a gambling token, the casino will do everything to attract more people to it and I guess 2% reward for staking isn’t a bad one and at some point, they’re trying to get more people to stake and it might reduce if they get more people to stake than expected.

2% is an insane offer since it’s on daily basis. You will not find anything close to this coming from a legit service since even Exchange only offer 2% annually not in daily basis.

I believe the catch on their reward is the potential wagering requirements on the rewards before you can withdraw it. Also the terms mention that the rewards will come from the pool which means it varies depending on the number of stake TXT. Normally, It will decrease when there’s a lot of stakers on the pool. It based on the dice profit and it will calculate rewards based on the weight of your staked TXT to the pool size. So that 2% is just a rough estimate.

We all know that, 2% seems extremely impossible but thanks to your explanation and atleast I thought you were a legal practitioner because you really took out time to explain everything and I’m not sure if a representative would even give this detailed explanation 😝
Above all, what actually caught my attention was the fact that, it said it that the 2% was a potential winning and it could either increase or decrease and you already made it clear with your explanation that, the 2% is almost impossible to claim

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Obviously this isn’t sustainable. If anyone could make 2% per day in profits, they wouldn’t need any sort of business or customers. They’d just get insanely rich and move on with their lives. Whenever you see yield promises you have to ask where the yield comes from and if it isn’t sustainable, your investment is the yield.

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If you visit the TrustDice website and read the FAQs, you will have a clue of what is happening. This is a game of the early commers receive the huge benefit. Read the answer to the question of how many TXT is released daily.

Quote

The release of TXT follows a half-life decay pattern. Each period will be 250 days. We will release half of the total supply of TXT in the first 250 days. The number of TXT to be released in the following half-life period will be halved, and so on.

This means that at the end of 250 days, the reward of stake would reduce. So, going in early, staking high and having 200days stake could be a good thing to do.

Also the question of How much TXT can be received daily when staked

Quote

It depends on the amount of TXT you staked. The more TXT you staked, the more rewards you will get.

The staking pool consists of 10% of Dice game profits.

At 09:00 UTC every day, a certain percentage (1% EOS, 1% BTC, 1% ETH, 1% USDT) of the staking pool will be paid to the TXT holders based on the amount of TXT they staked. You can also calculate your potential rewards on the “Stake” tab of the TXT page.

This shows that the 2% is the highest one can receive but you need to stake much higher to get this, otherwise it is 1% which is still very nice.

xLays

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That offer is really attractive, but at the same time it is really too good to be true. I think it's better to post this in their announcement thread here on Bitcointalk for a better answer. From reading some replies, it seems like they are just recommending common things to do without having experienced this matter themselves. For sure, there is some users in the announcement thread have tried this. Good thing you ask 1st before trying this feature by trustdice.win

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Quote from: Obari on July 24, 2024, 12:15:24 PM

Take the opportunity and since it’s a gambling token, the casino will do everything to attract more people to it and I guess 2% reward for staking isn’t a bad one and at some point, they’re trying to get more people to stake and it might reduce if they get more people to stake than expected.

2% is an insane offer since it’s on daily basis. You will not find anything close to this coming from a legit service since even Exchange only offer 2% annually not in daily basis.

I believe the catch on their reward is the potential wagering requirements on the rewards before you can withdraw it. Also the terms mention that the rewards will come from the pool which means it varies depending on the number of stake TXT. Normally, It will decrease when there’s a lot of stakers on the pool. It based on the dice profit and it will calculate rewards based on the weight of your staked TXT to the pool size. So that 2% is just a rough estimate.

Obari

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Quote from: Solosanz on July 24, 2024, 09:08:56 AM

Here's the calculation.

Quote from: https://trustdice.win/txt/faq

It depends on the amount of TXT you staked. The more TXT you staked, the more rewards you will get.

The staking pool consists of 10% of Dice game profits.

At 09:00 UTC every day, a certain percentage (1% EOS, 1% BTC, 1% ETH, 1% USDT) of the staking pool will be paid to the TXT holders based on the amount of TXT they staked. You can also calculate your potential rewards on the “Stake” tab of the TXT page.

Remember, the customer support said "potential reward" which mean could be less than 2%.

Yeah
Potential winnings which simply means that, it might be lower or even higher as the case might be but no need to doubt since the reward was coming from them directly and to the best of my knowledge, they already have a very long lasting campaign over here with active representatives if I’m not mistaken and just as a previous user already suggested that, for better response, you should channel this question to their main an thread and I’m just you’ll get the response you actually desire.

Take the opportunity and since it’s a gambling token, the casino will do everything to attract more people to it and I guess 2% reward for staking isn’t a bad one and at some point, they’re trying to get more people to stake and it might reduce if they get more people to stake than expected.

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Quote from: bitbollo on July 24, 2024, 10:23:30 AM

First I don't know if this is a reputable site so I will made a check. Then I will verify how it works their token and their staking system.
Where new coins come from? How they can offer a fixed returns?
There is a "creepy" details... since they are talking about USD and not TOKENS... because if they can offer 2% daily of their token ok... just an inflationary coin maybe with some strange vesting period. If they are offering 2% daily in USD Roll Eyes

....

Trustdice is the casino always subject for criticism due to their x5 wagering requirements on first deposit but they are always responsible on dealing with concerns here in the forum. They are one of the casino that has long running signature campaign until now.

They are trusted considering their long activity without any major issue against their service. Also the rewards are in their tokens(TXT). The OP just use the $ as reference for the amount but Staking and rewards is in the tokens which you guessed right.

bitbollo

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First I don't know if this is a reputable site so I will made a check. Then I will verify how it works their token and their staking system.
Where new coins come from? How they can offer a fixed returns?
There is a "creepy" details... since they are talking about USD and not TOKENS... because if they can offer 2% daily of their token ok... just an inflationary coin maybe with some strange vesting period. If they are offering 2% daily in USD Roll Eyes

....

Nrcewker

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Quote from: Solosanz on July 24, 2024, 09:08:56 AM

Remember, the customer support said "potential reward" which mean could be less than 2%.

Yes, many of the people are ignoring this important point. The reward is not fixed at 2% per day; rather, it’s up to 2%. At least this is what can be meant from the phrase. Practically, if it was 2% per day, then they might go bankrupt by providing the users with these high returns. It will take exactly 50 days to double your money. Sounds very fishy. But yes, as we know, Trustdice has been operating for a long time and has a good reputation; hence, I don’t think they have a plan to scam anyone.

Cantsay

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I don’t have much knowledge about this staking of TXT for. Period of time to earn some dividends but I feel it would have been better if you had asked this question in their Ann thread.

I tried shuffling through ninjastic to try to see if I’d see any conversation that was held that’s related to this in their Ann thread but none of them were clear to me.

Concerning the issue of it being too good to be true, I’d still trust them more than other sites offering the same thing because they do have a means to generate the funds (through gambling) and also you’ll have to wager some amount to be able to get the TXT in the first place and then stake it.

Solosanz

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Here's the calculation.

Quote from: https://trustdice.win/txt/faq

It depends on the amount of TXT you staked. The more TXT you staked, the more rewards you will get.

The staking pool consists of 10% of Dice game profits.

At 09:00 UTC every day, a certain percentage (1% EOS, 1% BTC, 1% ETH, 1% USDT) of the staking pool will be paid to the TXT holders based on the amount of TXT they staked. You can also calculate your potential rewards on the “Stake” tab of the TXT page.

I only read the FAQ, but there's no mentioned what if they're in loss, all they talk is about profit. You should ask whether they charge fees or not whether you withdraw your staked coins.

It looks sketchy, but they have a long term campaign in this forum, so if they scams you, their reputation are at risk.

Remember, the customer support said "potential reward" which mean could be less than 2%.

Coin_trader

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Quote from: memehunter on July 24, 2024, 08:06:16 AM

They are offering 2% daily returns (no time limit) and you can unstake and cash out any time. Is it too good to be true? I seek advice from reputed and knowledgeable members of this forum.

Do you get the reward? I don’t see a problem here if they pay user based on the percentage they declared. It’s their business and probably your reward is on TXT tokens too which they have tons of supply.

I doubt this offer will be long term so just take advantage on it while they re offering this kind of huge reward. Casino usually do this to promote their own token then later on change the reward once many user already staking.

I don’t check the offer personally but there’s nothing wrong if they are paying since they have source of income from the casino unlike typical ponzi/hyip that only rely to other user deposits.

freedomgo

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I am not so familiar with this but you can read the FAQ to get the full details.

https://trustdice.win/txt/faq

Everything that is written in the FAQ are more reliable, and even if it's too good to be true but if they guarantee it, then it's up to you if you'll trust them. This casino had build a reputation in the forum, so I don't think they will think of scamming.

-----

I read some of the FAQ, I think it's not so simple that you'll just receive 2% daily of your TXT stake.

memehunter

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They are offering 2% daily returns (no time limit) and you can unstake and cash out any time. Is it too good to be true? I seek advice from reputed and knowledgeable members of this forum.
Below is the proof;

Topic: trustdice.win Offering Unrealistic Returns on Staking their Token (TXT) (Read 601 times)