Re: [ANN] BetKing.io ICO - Bitcoin Gambling website - 481.29 BTC raised so far
I don't think I've seen you refer to the 2k in BTC's bankroll as a loan from DN to BK, but I don't see what else it could be. It doesn't belong to BK. It belongs to DN, who sold 30% of the company in exchange for 2k BTC. Is it a loan? Is it interest-free?
IMO It belongs to BK, doesn't belong to DN. It is a loan from investors to BK, with a right on profits.
Sorry Dean, but I still don't think this is clear. Originally you said that profits from the dice game would be paid as dividends to shareholders:
but now you're saying that profits from the dice game will be added to the bankroll (ie. your 2k BTC):
Are you saying that the public's 30% share of the profits are paid out and your 70% share of the profits stay in the bankroll? Or how can I understand both statements at the same time?
It's hard to decide whether to invest with such confusing and apparently conflicting statements from you.
We will pay dividends as a share of the total profit (revenue-expenses) generated by BetKing in Bitcoin every 3 months.
but now you're saying that profits from the dice game will be added to the bankroll (ie. your 2k BTC):
Any profit/loss on dice game gets added/subtracted from bankroll.
Are you saying that the public's 30% share of the profits are paid out and your 70% share of the profits stay in the bankroll? Or how can I understand both statements at the same time?
It's hard to decide whether to invest with such confusing and apparently conflicting statements from you.
OK so what I mean by this is:
Assume the ICO meets the target of 2000 Bitcoin raised as investment.
The business would have 2000 Bitcoin capital. There are no other funds from me, other investors or any type of private bankroll option.
At first the main product would still be dice.
I would set the max payout on dice 20 Bitcoin (this could change) as if there were a 2000 Bitcoin dice bankroll with 1% kelly as the risk setting.
If someone lost 1 Bitcoin playing dice we would have 2001 Bitcoin in the company.
If someone won 1 Bitcoin playing dice we would have 1999 Bitcoin in the company.
I guess the confusion is that I have said bankroll, capital and investment when we should be thinking of it as capital right?
Expenses come out of this capital too.
So lets have two examples to see what dividends would be after three months under different circumstances. Note these numbers are only for example
and are under assumption we add no new games/products in first 3 months to keep it easier to understand.
-snip-
Yeah, most of it cleared.
What happens to profit from other games? You keep it
No. As mentioned in OP. Profit from all other games/products works the same way. Examples have just been given in dice so far since that's what currently exists on the site.