Re: www.gamebet.gg Launches GameBet Coin (GBT) eSports -- SALE OVER!!!
Something that needs to be addressed by the developers urgently. It's was asked at the beginning what are the legal protections that this profit share has for the investors?
There are pages of legal talk on the site clearly explaining the status of the gold and silver tokens on the site but no mention of GBT.
My concern is this and everyone who wants to hold this token long term that at any point in the future the developers could change the conditions even getting rid of the profit share scheme. The developers were very evasive of this question when asked and I think it's time it was addressed. It's simple, they add some legal protection for those who bought into the company or they don't. If they don't then actually you aren't protected or are future holders of the token....in fact they can be rendered worthless. This should of been addressed at ICO so now we are at Mercy of developers to legally put in place what they actually promised by word.
Balls in developers court now....
There are pages of legal talk on the site clearly explaining the status of the gold and silver tokens on the site but no mention of GBT.
My concern is this and everyone who wants to hold this token long term that at any point in the future the developers could change the conditions even getting rid of the profit share scheme. The developers were very evasive of this question when asked and I think it's time it was addressed. It's simple, they add some legal protection for those who bought into the company or they don't. If they don't then actually you aren't protected or are future holders of the token....in fact they can be rendered worthless. This should of been addressed at ICO so now we are at Mercy of developers to legally put in place what they actually promised by word.
Balls in developers court now....
Since when is the there any legal protection for anything and anyone in virtual currencies? It is the wild west where you are lucky to wake up the next day. You put money into something and hope for the best as long as you never put in more than what you can afford to lose. It is just that some coins are clear losers and other ones show more potential.
Thats not correct. Gamebet is a registered company selling tokens as profit share. People need to know they don't legally own anything. Plus YES we can be protected legally...If the developers choose not to then its a choice. All Im asking for is to have legal backing to what I've been sold...its basic customer protection and anyone who argues against that has strange alter motives IMO. Your point about Crypto is misplaced. The whole point of Crypto is you absolutely own the coin and no business or counterparty can make your coin void....thats the whole point. I'm not suggesting we have some right to make money I'm saying IF i'm sold something by a legitimate registered company I want to ACTUALLY own it not as an act of kindness....Like I said the site has a whole page protecting their interests...lets see them protect ours also as a sign of trust and commitment.
Gamebet as we have been told has employed lawyers so adding our protection is a formality.
https://www.gamebet.gg/#Home/Tos
Dannyman -
I am looking in to adding language to the ToS to include the GBT and what it means for the owners of the token; or creating a separate statement.
I need to put together some more details, but we will have something available on the site by Wednesday of this week.
Please PM me if you have any other questions.
Thank you. Plus I would also ask a brief summary on the thread to the meaning of the additions in laymans terms just so everyone understands clearly what it means for them. Please no legal loop holes hidden in legal jargon.
*I'm also curious about what is the boundary of 'profits' I mean is the profits int he company ALL profits or only profits from betting? What is money is made from advertising? or what happens is an investor hands the company 10million seed money? Would we really 'Own' 10% of the company in these kind of senarios?