Post
Topic
Board Scam Accusations
Re: BetKing.io broke ICO promise and dropped token value 99%
by
JollyGood
on 21/03/2019, 00:19:27 UTC
An excellent post which hits most of the key notes.

In most cases ICOs in general lead to dictatorships where site operators hold all the keys and all the information at the same time and they never allow any form of scrutiny. In most but not all cases it is because money, power and greed gets to their head. Had the owner/operator of betking been more transparent then maybe a lot of this could have been avoided because of the strength that scrutiny gives to investors and spectators alike.

What happened with the spectacular collapse in value of your BKB tokens is a stain on the lack of business acumen on part of the owner/operator of betking. That type of mismanagement in any walk of life would mean a resignation or a sacking with no chance of ever being allowed back in to the fold but here the opposite is happening.

Right now the biggest problem I see is what you highlighted earlier:

Total funds raised:
1,046.60623397 BTC
4,614.61055431 ETH
833.38469263 LTC
Total: $6,497,165.94
(archived)
So when I changed to this model I owned 70% of all BKB
(archived)

If $6.5 million was raised in the ICO and if 50% of all funds raised were to go to fund the bankroll and the owner/operator claims he used 600 BTC directly from the bankroll funds to buy up to 70% of tokens, then how much of the bankroll remains?

Where is the other 50% of the funds? It is hard to believe that $3.25 million has just been spent on what was stated earlier by the owner/operator:

You know absolutely nothing of what our costs were in the past year and a half. You don't know what was spent on marketing, promos, development (you say frugal, I had 6 devs working for me for a year, they don't work for free).