Hi everyone, My name is Jay Berg, I was on the CashBet team for the past month, but no longer have an affiliation.
(If anyone, by chance, has bought coins based on me being on the team, can get a refund, if desired) As always, investors should have just the raw facts, and should decide for themselves- This ICO is for CashBet Coin (CBC), which is a fully premined erc20 token. This coin has no independent entity or value. The value of CBC is totally dependent on the centralized CashBet company to follow through on promises. The good news is that CashBet company is legit and is not a scam.
- As an investor, you can look at it like a stock in the company, only w/o the voting rights. The more revenue the company has, the more CBC will be burned.
- At launch, the token will have the utility of being used to join a "VIP program". This would make the token useful for those investors who wish to play real-money slot machines on their cell phones.
- As with all ICOs, there is a real risk of direct loss of coins (eth, btc) from a social hack. ICOs should be providing audits of proper private-key security.
- CashBet is a user of the Ethereum blockchain and erc20 standard. They are utilizing blockchain to raise money, instead of using traditional VC funding.
- They are following all laws, and require all US investors to be accredited and all investors go through KYC, even though CBC is a utility token and not a security.
edit - Full disclosure: I am supposed to receive some CBC, somewhere between 1000 and 10,000 coins total.