It's nice to see they did listen and reward investors a little more.
Just a few questions.
1. How can anyone know the profits the site will generate hence if the investors are getting the % they are supposed to get?
2. What can stop the owners selling out if it gets big for millions and the new owners just giving the finger to the investors? Ie no more rev share?
3. If we don't know who any of you guys are what stops you guys just saying you're not going to pay out to investors either after it's up and making a fortune?
4. Are there any things that can be done to ensure these things don't happen or is it just going to have to be an act of faith on the investors part?
I like the site and love the concept...shame the entire thing can not be decentralised somehow.
1. We will be publishing an open ledger showing the total number of bets made each week (split into categories of games), as well as the houses profits. We agree, it is important for our profit margins to be accountable and easily verifiable especially in the case of auditing.
2. The fact we are a registered company holds us accountable to our investors. This situation has been discussed and if it did happen we would use a % (what is currently being paid to GBT holders) of those funds to buy back GBT on the market at the highest value we can pay, however it is rather absurd to be thinking about such things so early on in the venture.
3. The company having legal accountability.
4. See above. We will be publishing more information in the future and we hope to strive towards a very transparent environment, however due to the nature of our operations in its current state we cannot reveal the identities of the developers/managers.
Thanks for your positive feed back, we really appreciate the great questions you're asking!
To add on to this... Steam Silver. I just realized there's no information on if that's paid out as well to investors. Is SS part of these payments? If so, is it paid out as SS or as BTC?
Great question, profits the house makes that come from SS-betting will also be paid to investors in the form of BTC.