Re: [FLAGGED] [scam] BetKing.io broke ICO promise and dropped token value 99%
If the creditor fails to honor any repayment or repurchase obligations, as a holder of a debt obligation, you have a cause of action against the creditor.
You know as well as I do that I can't pursue legal action against some anonymous guy on the internet for $700. All I have to fight scammers is this platform (Bitcointalk).Quote
A holder of a debt obligation can be made whole by the creditor honoring their repayment or repurchase obligations. A holder of a debt obligation can also choose to settle their claims by accepting less than the total amount owed in exchange for a quick resolution and/or certainty they will receive a recovery. If you sell your debt obligation you are selling the right to receive a repayment (and to sell your debt obligation via repurchase) to the buyer, who can choose to settle if he so chooses.
It's not as if I had much of a choice: BKB's only value was based on Dean's buyback promise, and after he cancelled that, he decided BKB would become worthless. He also came up with several different stories:On November 30, 2018, I received a "Latest news" email from BetKing:
If you disagree, you're free to withdraw Support for the Flags and Oppose them instead.
Besides:
Latest BKB/Bankroll Refunds: $10,000
15% of the sites monthly profit goes to refunding bankroll losses and buying back BKB.
If you had BKB tokens or bankroll losses you can view your latest refund stats at https://betking.io/refundsNote that this can't be verified at all, and coming from a confirmed liar and scammer, I don't believe a word he says.
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Future of BKB and BetKing
BetKing will be moving away from gambling and rebranding to become a Bitcoin bank, exchange and payment processor.
We have already began work on this and we will launch in q1 of 2019. See https://bitsafe.io for more details and a working demo of the app.
Once the new site is live BKB will be converted to BTSC (BitSafe Coin) automatically using the exchange rate of both tokens at the time.
BetKing will be moving away from gambling and rebranding to become a Bitcoin bank, exchange and payment processor.
We have already began work on this and we will launch in q1 of 2019. See https://bitsafe.io for more details and a working demo of the app.
Once the new site is live BKB will be converted to BTSC (BitSafe Coin) automatically using the exchange rate of both tokens at the time.
On January 28, 2019, I received another email from BetKing:
Either way, BKB would have been "converted" one way or another, so I did the only sensible thing left: take my losses. But that doesn't mean Dean made me whole.Quote
Existing BKB holders will be able to convert BKB for the new token.
If you disagree, you're free to withdraw Support for the Flags and Oppose them instead.
A key part of the type of flag you opened is that there needs to be a way in which you can be made whole, and have the flag rescinded. Presumably, you want to receive the 99% of your initial investment that you lost.
Dean is free to contact me to work something out. I'm not unreasonable Quote
If this happens, what happens to the buyer of your BKB?
As I pointed out earlier, the "buyer" is Dean himself. He's also the one who decided BKB token holders had no other choice than to sell them, or he'd make them completely worthless.Besides:
At the ICO, Dean said the BKB tokens wouldn't be sold again.
This is an important part of contract law, and should be considered prior to supporting a flag involving a contract violation.
I'm not sure why you're trying to find a loophole for scammer Dean. The fact that he broke so many of his previous promises and now created his Fifth Bitcointalk account to post this:Latest BKB/Bankroll Refunds: $10,000
15% of the sites monthly profit goes to refunding bankroll losses and buying back BKB.
If you had BKB tokens or bankroll losses you can view your latest refund stats at https://betking.io/refunds