Quote from: BetKing.io on July 24, 2017, 01:05:04 PM

Quote from: DD47 on July 24, 2017, 01:01:10 PM

Quote from: Nalien on July 12, 2017, 02:40:33 PM

Quote from: BetKing.io on June 20, 2017, 09:27:29 AM

Quote from: LoyceV on June 20, 2017, 09:03:37 AM

Quote from: BetKing.io on June 19, 2017, 09:30:55 PM

The buy back price offered by BetKing will be based on the current total bankroll profit.So for example if the price of the token at the end of the crowdsale was $0.014 and the bankroll profit was $1,000,000 then the buy back price would be $0.024 (1,000,000/100,000,000 + 0.014).

Every quarter BetKing will offer to buy back up to 10% of a holders tokens at the current buy back price.

This means at least 90% of the bankroll profit stays within the site each quarter, raising the value of remaining tokens.
Will the tokens that are bought back by BetKing be re-sold again at some point, or are they off the market forever? If they aren't re-sold, the bankroll can only go up from bankroll profit.

They won't be re-sold no.

Will you burn or sit on them? If you burn them, will you provide proof of burn? Will the token be listed on exchanges?

Quote from: betking.io

I will hold them.

I am looking to be listed on exchanges but there's a few more things that need completed before I can make the applications.
Hopefully that will be taken care of by the time the main sale starts.

Hi Dean,

I'm very interested in your re-launch/ico. Could you please go into more detail on the mathematics on future buybacks, after the first one?
How will the buyback price be determined on subsequent quarters - for instance, if the first quarter Betking buys back 5% of the 10% offered, or 5,000,000 BKB - will the next quarter divide the profit by 95,000,000 outstanding BKB? Or will it always be divided by 100,000,000?

Basically, what happens to the re-purchased shares? And how will that affect future profits for the investors?

If Betking is buying back with bankroll profits, will the investors that hold their tokens benefit from doing so?

Thanks,
Dave

Quote from: DD47 on July 17, 2017, 03:25:40 PM

Quote from: dooglus on July 17, 2017, 03:17:18 PM

Quote from: DD47 on July 17, 2017, 03:06:25 PM

if the first quarter Betking buys back 5% of the 10% offered, or 5,000,000 BKB - with then next quarter divide the profit by 95,000,000 outstanding BKB? Or will it always be divided by 100,000,000?

Basically, what happens to the re-purchased shares? And how will that affect future profits for the investors?

Surely: when shares are purchased they stop being owned by the seller, and start being owned by the buyer. If Dean buys 5 million shares from investors, Dean will have 5 million more shares than he had before, and so will get an extra 5% of the profit. Investors will get 5% less of the profit, but individual investors who don't sell won't be affected by those who do.

Thank you for trying to answer, but I think you're missing my point.
If the buyback is being purchased from the bankroll profits that all investors share in, but the shares are only going to Dean/Betking - then I see an issue, especially if future profits are still divided by the full 100,000,000 shares.

While the bankroll will be reduced by 5% in this case, all those shares that are bought back are going to Betking and not the remaining investors.

Maybe I'm not understanding, or I'm missing something - hence the reason I'm asking.

Thanks,
Dave

Quote from: BetKing Support on July 17, 2017, 03:30:40 PM

I'll forward this question for Dean to answer when he has a chance!

Hi Dean,

Wondering if you were forwarded these questions by BetKing Support and if you could address them. I highlighted my messages in bold for ease of reading.

Thanks,
Dave

Hi
I saw the question yeah but I thought dooglus answered it.

The buy back price will always be profit divided by 100,000,000 as there will always be that many tokens.
No tokens will be burned. Eventually I will hold all tokens at some time in the future, depeding on when holders want to sell.

Hope that clears that up

Thanks

Then it seems that you have quite a racket going.

Betking will be taking the cumulative investors' profit to buyback tokens, reducing the bankroll, then Betking alone will be accumulating profits on those tokens to infinity with no benefit to remaining token holders.

Eventually, Betking will have purchased the majority of tokens back with investors' money (Bankroll profits) - in essence diluting remaining token holders since Betking retains the re-purchased tokens and earns all future profits on those tokens. Sounds like it's good to be Dean / Betking.

If I'm misunderstanding, please let me know.