BitDice is doing well (for the team), now bankroll alone should be worth over total amount collected in ICO, we can't check since it is not public anymore.
Only investors are at huge loss of 70% (bit dice claims they but tokens at 50% of ICO price) and market cap of CSNO is just above 2,800,000$ according to Etherscan (https://etherscan.io/token/0x29D75277aC7F0335b2165D0895E8725cbF658d73?a=0xc4bf32fed731ffde7d71874ea39c208833fdac3e) and how are things developing investors will pay server rent and legal expenses (over ~$500,000 spent investors money to not open bank account is crazy) until depleted.
Where is the accounting showing that Bitdice paid 500,000 USD to not open bank account?Only investors are at huge loss of 70% (bit dice claims they but tokens at 50% of ICO price) and market cap of CSNO is just above 2,800,000$ according to Etherscan (https://etherscan.io/token/0x29D75277aC7F0335b2165D0895E8725cbF658d73?a=0xc4bf32fed731ffde7d71874ea39c208833fdac3e) and how are things developing investors will pay server rent and legal expenses (over ~$500,000 spent investors money to not open bank account is crazy) until depleted.
A portion of the collected crypto currencies were sold for USD, so Bitdice must have a bank account?
They wrote that in official statement posted by Boxxob:
I am posting this answer on behalf of the management:
Due to business nature, it was hard to predict all the obstacles that had arisen. It's almost impossible to open a bank account for crypto-related companies in the EU, not to mention gambling as business activity. As an example, attempts to fix an agreement with Wirecard related to fiat payments processing took almost a year and finally ended in vain due to circumstances that were out of the team's control.
Moreover, at one point it has been decided to cease certain activities until the launch of the new website, which is currently under the final stage of development.
Due to business nature, it was hard to predict all the obstacles that had arisen. It's almost impossible to open a bank account for crypto-related companies in the EU, not to mention gambling as business activity. As an example, attempts to fix an agreement with Wirecard related to fiat payments processing took almost a year and finally ended in vain due to circumstances that were out of the team's control.
Moreover, at one point it has been decided to cease certain activities until the launch of the new website, which is currently under the final stage of development.
Amount spent strictly on legal matters according to reports is over $100k (reports can be found at https://medium.com/@BitDice/), I said $500k because of facilitated amounts they mention in reports
At top of that investors pay developers and team salaries of over 15,000$ per month to work on nothing and deliver nothing for three years.