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Showing 4 of 4 results by beocca
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Re: [Crypto-Games.net] BCH/BCC limited claim, deadline passed.
by
beocca
on 16/08/2017, 05:58:42 UTC
Yet, crypto-games handled the unexpected situation favoring its users.

Not sharing the forked coin risked having many investors pull out their bankroll ahead of the fork - it was a smart business move, not altruistic.

The poor business decision is to rigidly enforce this policy on a profitable customer that will now move on to another site.



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Re: [Crypto-Games.net] Investors beware - BCC is not being paid out
by
beocca
on 15/08/2017, 20:36:13 UTC
A little disclaimer: The following is my own view and experience, opinions voiced are mine, and mine only.

Noted.

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This fork meant mainly one thing for CG; a huge investment of time and work.

...

All of those tasks were done by CG free of charge...

Totally get that - I'm not suggesting they work for free. A ~10% (+/-)  transaction fee would be very reasonable.

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I'd also expect from someone who stores funds on a site and is aware of a situation like this fork to take the initiative and inform themselves about how the situation is handled.
Checking the blog or asking a moderator in chat (or maybe even contacting support) takes a few minutes, and avoids running into situations like this.

This is an investment. I don't check it daily or weekly. I check it once a month at most. It's been a year without any problems. Having to spend time checking on it every few days would quickly make any profit earned on it a pretty expensive investment of time.

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I don't have exact numbers as I was not involved with the distribution, but as far as I know, over 95% of the investors claimed their BCC/BCH (we're talking about a group of ~500 people).

That's ~$20,000 USD of investor money left on the table. It seems like CG is being compensated quite well with this fork. (EDIT: See Lutpin's comment below - 95% of investors not BCC)

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The first email was sent July 25th, when the blogpost "Update: BIP91 and BCC" was published (I know that because I got the email myself, as I'm also an investor).
It referenced this post that includes the information that
"Users will have 12 days after the fork to set their BCC addresses and receive their coins. After that, we will stop accepting new BCC addresses and you will lose your claim due to failing to meet the deadline."

Yes, the email included a link at the bottom asking people to read their blog post. However, writing an email specifically saying at the top that all investors will be paid their BCC and then only mentioning an immediate deadline in a link comes across as disingenuous.

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A second email was sent a few days after the fork (only to those users that did not claim their BCC until then) reminding everyone of the deadline.

This is the one that ended up in my junk box. Not blaming CG for that, don't know why it happened. Regardless, this was the first actual email with a deadline in it and it only gave people 5 days.



I'm not suggesting CG is malicious or a scam - it's not. It's legitimate, I've dealt with them for a year without an issue before this.  However with this policy in place, my warning to investors still stands. If you invest with CG, you are expected to read every email, blog post, social media, etc. within a few days or risk losing funds like I have. The end result is I've been hit with a ~7% penalty for not reading a blog post and not responding to an email within 5 days.
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Re: [Crypto-Games.net] Investors beware - BCC is not being paid out
by
beocca
on 15/08/2017, 07:53:24 UTC
From reading this thread, I believe Lutpin is one of the developers. I'd like to hear from you on your policy.
I'm not. My role around CG is purely consulting, thus I don't have any direct influence on decisionmaking.
I've currently not got the time or means to write a full explanation of the other side of the coin,
but I'll get back to you in a few hour with some insight on why and how certain measures were taken.

Very well, my apologies for naming you then - I've only scanned the thread and did not know the extent of your involvement. Thank you for looking into this.

For now, please, stay calm. Nobody has any malicious intentions,
and I'm sure we can find a solution suitable for both parties.

You'll have to excuse me for being upset - the email response above that I received from support today did not seem very open to compromise.
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Re: [Crypto-Games.net] Investors beware - BCC is not being paid out
by
beocca
on 15/08/2017, 07:26:14 UTC
Unfortunately after a year of enjoying both playing and investing on Crypto-Games, I have had an incredibly distasteful experience - let this be a warning for all investors out there.

Crypto-Games has set an arbitrary 12-day window to claim the Bitcoin Cash (BCC) associated with their investor's BTC investments. Having only read their blog post about it today, I wrote a polite email, apologizing for missing their deadline and asking for my BCC to be paid out. Their response:

"sorry but distribution is over, everyone had 3 weeks time to set it up and we sent two emails about it."

With regards to their two emails, the first email promised to pay investors their BCC and made no reference to any immediate deadline. To quote:

"Bitcoincash (BCC) is the name of a hard-fork off bitcoin's chain planned to happen on August 1st. We've previously promised to allow investors access to all resulting chains, and we will stick with that promise. CryptoGames is not going to list or support BCC, but we are going to pay out BCC to investors and players" (emphasis mine).

The only email they sent with a direct reference to the deadline was on August 8th, giving investors five days to set up a BCC wallet. And unfortunately in my case, this email was in my junk folder.

Regardless, not reading your blog posts or emails for a few days is not an excuse to steal investors' funds.

From reading this thread, I believe Lutpin is one of the developers. I'd like to hear from you on your policy.

1. Why do you think unclaimed BCC belongs to you after 12 days (and does not belong to your investors)?
2. On Aug 1st, Crypto-Games bankroll was approx. 1315 BTC. How much of this BCC are you keeping and how much was paid out to investors?

I'm hoping you are considering a change of policy and I will happily rescind the above if that is the case. You are a profitable and successful digital casino - there is no reason to treat people who have supported you unfairly. Retaining and refusing to release investors' funds directly assaults the goodwill you've built to date as a thus far legitimate and transparent casino.