[CAUTION] BTCDragon Asset



  • It's with a heavy heart that I have to write this, it's purely factual and information only. I'm flagging this as a concern for investors.

    BTCDragon that Asset:

    What's not adding up? Well I took some time and performed a deep dive financially on this asset to determine capital raised, expenses, expected earning and I have uncovered some very disturbing information. All of my claims are documented below, I attempted to work this out offline with @Bitdv but my last set of questions were not answered directly and I was provided what I would consider a "non-answer" in an attempt to dodge the original questions.

    The initial roll out of the BTCDragon asset on the surface seemed very logical, maybe more like a crowd fund than an asset sale but there was/is a software platform that is utilized to generate revenue as the initial backing. The total collected from the initial release added up to about 28BTC or $30,000USD. This should have been more than enough to provide capital for server expenses, SSL certificates and fund development for a significant amount of time.

    As time went on we saw dividends being paid out on a weekly basis as investors hoped, actually very good returns. One former member of the community questioned the payouts and was provided some screen shots from the operator but it may be true that the information provided was simply incomplete in terms of what was being asked for. Not being a money pot operator I don't know if the request could have been fulfilled as requested. However lets examine what I do have.
    Information about the Casinos Lifetime earnings.

    0_1488299595777_upload-94811158-feee-4a6e-9d5e-6b8cac738596

    On the surface this looks great, 354m bits wagered and a profit margin that exceeds the expectation currently at 1.71%, that gives us an estimated income of 6,054,260 bits which converts to 6BTC. This should buy a ton of Burst to payout investors, on the surface it looks peachy. Here's where it gets dicey.... READ CAREFULLY
    As you can see there are two individuals listed as "Owners" as disclosed FlashRevolution is the coder and LordzS is the owner (Bitdv).

    0_1488299627680_upload-66fe4191-babe-4168-9c26-baf30cb62514

    According to play history Bitdv's account accounts for 225m of the 354m wagered. That's 63.5% of all wagers are made by the casino operator. I understand testing is required but not to this is not logical unless he has a compulsive gambling problem. I guess no one ever asked the question, "Does the operator have a gambling issue?" We can see he lost 3.8 BTC to his own site.

    0_1488299656210_upload-e5f3e25e-6a17-46f5-a6c6-1e2d0e25bd02

    Traffic flow is my last concern, here you can see a screen shot showing one hour of bets placed by all users on the site utilizing BTC (today's primary currency). As you can see there were a total of 15 bets made in the past hour and the average bet size is sub 50 bits.

    0_1488299724014_upload-f8d4929f-c21a-4ee4-b86d-4f34c4095ccd

    So where do all these MEGA HUGE numbers come from? Look at this, it's the operator himself with large bets typically in the thousands of bits each.

    0_1488299753043_upload-0c51ca56-9b1f-486a-b2d2-1887011c06ca As we can see from his personal play history he is down 3BTC at his own casino. Any operator knows you shouldn't play on your own games after all you're trying to make money for yourself and your investors.
    Time Lines are starting to fall apart:
    As many can see I often post on assets that I have involvement with either by helping or owning. In this case both were true for me, I owned thousands of shares and I was helping by submitting bug reports to the team to help make the casino more user friendly.

    @Bitdv posted a thread about the future of the casino which I thought I went pretty gently on until he said he was going to release the last 490K shares generating another 50BTC in capital. If you need additional capital for other crypto currencies raise it with that community, don't ask the Burst family to fund other currencies. The statement from Bitdv has been changed to "Shares will be released as long as there is demand.", I say stabilize the platform generate income from what is in hand.

    This appears to me is as an exit plan, sell off 490K shares (there will be demand, the question is at what price) , collect 50BTC bringing the total to 80BTC. Give some to my coder for his time and then only the future knows. I hold shares and I will continue to until this is proven one way or the other but without a change in direction I have my speculations.

    Here is some past ventures that Bitdv has been a part of.

    0_1488299791562_upload-53abb200-b307-4ff6-a0a6-efbd8d7ad5fa

    http://www.moneymakergroup.com/Rev-Ads-Network-Revadsn-t442299.html
    131 Pages of Information on a project that shutdown despite have "excellent earning."

    User corey55 said:
    " I have not posted in here in a while but I found the last update so comical, I could not resist. So lets see if I have this all correct. All the programs launched so far have now stalled even though they were suppose to be unlike anything the industry have ever seen -- not my words, just read back in history. Oh, and they WERE NOT PONZIS. Now you are being told to wait 3 to 6 months for the next new shinny object that the industry has never seen. But don't worry, no one is running with your money. It's being kept safe for you in a steel vault."
    " There is no great mystery dansu as to why the programs that came from down under ended up like they did. They were simply ponzis just like 99% of what's promoted on the forum and every ponzi has a very limited shelf life. The Admins tried to use intimidation tactics to get people to believe otherwise but the truth is obvious for those who choose to see it."

    income4me said:
    " It is difficult to keep the faith when even the admins are promoting other programs."

    markjacks said:
    " Can this be confirmed to be a scam already? I just hope that it's not."
    0_1488299821744_upload-2d12dca8-c708-4528-811a-b972e6f19d4a http://website.informer.com/email/RTS199@YAHOO.COM.AU
    Other projects that you can check out on your own where @bitdv had direct involvement:

    0_1488299853431_upload-50b2d74c-128d-4bb1-8317-184bc2873ad6

    btcpool.exchange is a defunct project.
    mdbaglobal.com no longer exists
    cryptkingdom.com no longer exists

    As you can see the typical outcome leaves investors with a bad taste in their mouth wondering, "Where did my money go?"

    A STRONG WORD OF CAUTION

    Sorry to be the provider of information but I need to look out for my own assets. If people have questions about where I got information or how I performed calculation please ask here as I want the entire community to see the questions and answers. I will not take private PMs on this issue.

    -IceBurst



  • that was a good read. and logically completely makes sense.

    its very worrying.

    also with the recent scare where he transfered all the burst to poloniex for safe keeping due to a possible theft makes me feel uneasy. it just seems like to much is happening in the darkness and no one has shined a torch there yet.

    i noticed this morning another 2 million burst went to polo.
    2/28/2017 08:20:59 Ordinary Payment  2'000'000 BURST-RZ9Z-GHED-8F8R-BVHY5
    originally we had an issue with the safety of the funds due to a possible "compromise" and personally i wouldn't of stood around to fix that said issue that was brought to light a good few weeks ago



  • quick panic sell cheap



  • Like I stated before put a freeze on any new assets asking for shareholders to purchase and build upon the few good ones we have left



  • @IceBurst

    Thanks for the heads up and time spent to do the evaluation.
    Blows my mind what people are pulling in for assets.



  • @IceBurst Well I hope there turns out to be a good explanation, we will wait and see what @Bitdv has to say.

    On the gambling. If you take out the "In House" bets how do the numbers look?

    On the previous I am probably blind but can you sell out the links to @Bitdv and what went wrong?

    Rich



  • @RichBC said in [CAUTION] BTCDragon Asset:

    @IceBurst Well I hope there turns out to be a good explanation, we will wait and see what @Bitdv has to say.

    On the gambling. If you take out the "In House" bets how do the numbers look?

    On the previous I am probably blind but can you sell out the links to @Bitdv and what went wrong?

    Rich

    So I was able to find a good thread on the one previous venture that I did link, there are a 131 pages of discussion, most of my comments that I quoted come from the last two pages. I would suggest checking bitcointalk.org and searching for some key terms. A quick search for "btcpool.exchange" returns an announcement thread that shows a showdown and relaunch. In terms of what I have invested for time it's probably about 6 hours or so to compile all my data, I don't want to sound like I don't care but I do have other issues that require my attention so I'm limiting my further investigation(s) and will let others pick up where I left off.

    By removing his numbers from the casino it does affect two major components 1) Total wagered drops by 65% 2) The profitability drops by 64% reducing it to 2.16 BTC of profit. What would be an interesting number is, "Someone find the total of all Dividends paid", divide that by the average price of Burst, lets call it 80ish over the last 30 days and see what that number is.

    -IceBurst



  • @IceBurst OK but I think as you have done the research you owe us a bit more. You have caused a massive sell off and this was the glowing endorsement you gave only 3 Days ago.

    @IceBurst said in ⚡ 🎲 🐉 BTCDragon Casino The Goals and Future!! 🐉 🎲 ⚡:

    Let me start off with; I think this project has been an incredible success and you and Flash are doing a great job.

    Here's my recommendations. For the 30K assets distributions I believe all of your listed possible benefactors are possible and worthy. I would tuck 10K away for site enhancement which could be an idea, a break/fix, a vulnerability or something else, dole them out slowly as needed. Option two covers such a good wide base you just have to figure out which ones are worthy and give each a little. I would hold some of the donation assets back as well because oyu never know when the next great cause will come along.

    I love your idea about having an account that slowly buys back it does two things at once that people don't realize 1) It increases the dividend for the remaining shares 2) Allows investors to get out when they want by being liquid AND take a profit! It's a complete win for everyone and also helps create a long term solution of closing out the asset because you are slowly collecting back over time, granted a VERY long time.

    You have made excellent decisions along the way and I expect this to continue. However lets talk about the 490,000 proposed shares to put on the market, more importantly why do you need an additional $50,000USD. BTCDragon to roll strong.

    -IceBurst



  • @RichBC said in [CAUTION] BTCDragon Asset:

    @IceBurst OK but I think as you have done the research you owe us a bit more. You have caused a massive sell off and this was the glowing endorsement you gave only 3 Days ago.

    @IceBurst said in ⚡ 🎲 🐉 BTCDragon Casino The Goals and Future!! 🐉 🎲 ⚡:

    Let me start off with; I think this project has been an incredible success and you and Flash are doing a great job.

    Here's my recommendations. For the 30K assets distributions I believe all of your listed possible benefactors are possible and worthy. I would tuck 10K away for site enhancement which could be an idea, a break/fix, a vulnerability or something else, dole them out slowly as needed. Option two covers such a good wide base you just have to figure out which ones are worthy and give each a little. I would hold some of the donation assets back as well because oyu never know when the next great cause will come along.

    I love your idea about having an account that slowly buys back it does two things at once that people don't realize 1) It increases the dividend for the remaining shares 2) Allows investors to get out when they want by being liquid AND take a profit! It's a complete win for everyone and also helps create a long term solution of closing out the asset because you are slowly collecting back over time, granted a VERY long time.

    You have made excellent decisions along the way and I expect this to continue. However lets talk about the 490,000 proposed shares to put on the market, more importantly why do you need an additional $50,000USD. BTCDragon to roll strong.

    -IceBurst

    Good quote, you see I was concerned about the sell off of 1/2m additional assets, it didn't make sense. That's what led me to start my investigation. @Bitdv did change his release plan from all to as interest in the community exists.

    Don't get me wrong, I loved this asset at the start, I have personally a 17% RoI which for under 2 months is great. If you believe I intentionally crashed the market on this asset you have two options to exercise. 1) I made them cheap so you can pick them up and 2) Watch my burst address, watch to see if I accumulate the asset, if I do I would say I have/had constructed one of the most devious plans that stretched out since the inception of the asset. However this would jeopardize my name in the community and I would be no better than MUD if this was true.

    I believe in the next 48 hours @Bitdv will address my statements and satisfy investors OR lots of people will be out lots of Burst as the investigation continues by other community members and more "holes are found". I guess the short story is were at the breaking point, this is a scam or it has a logical explanation that I over looked.

    If you have a direct question that I didn't answer please ask it and I'll do the best I can to answer it.

    -IceBurst



  • @IceBurst Only the same questions, and of course I will take a hard look myself, but you are in the groove.

    If you take out the "In house gambling" how do the numbers look, taking account of this being a new Casino?

    I cannot from what you have posted on the previous ventures see the direct link to @Bitdv ?

    Thanks



  • @RichBC said in [CAUTION] BTCDragon Asset:

    @IceBurst Only the same questions, and of course I will take a hard look myself, but you are in the groove.

    If you take out the "In house gambling" how do the numbers look, taking account of this being a new Casino?

    I cannot from what you have posted on the previous ventures see the direct link to @Bitdv ?

    Thanks

    I answered this but I went back and edited it so it appears maybe I dropped it but to answer your questions the profitability of the Casino changes from 6.05BTC to 2.17BTC a rather significant drop.



  • @IceBurst Yes but is that profit still reasonable for where the casino is in it's life? I will do the maths myself, but silly to not hear what you think?



  • @RichBC - I don't want to provide any I think type data, my entire article is based upon facts. We could speculate either way and people will, that's what they do. I would hope @Bitdv will write a response that will satisfy investors. I have provided all factual data that I currently have.

    -IceBurst



  • I am in shock now and hope the Asset Owner tomorrow will come and post here to passify investors. Thanks to this thread I am about to lose over 1 million Burst in asset value..I am stuffed again.. I seem to work hard just to lose every time. It's at times like this I just want to give up.



  • @haitch was @Bitdv verified? I am not planning to panic before he will give his explanation.But it is disturbing.



  • @Ip85 scrolled throu yes looks like he was verified


  • admin

    @Ip85 Yes, he's verified, so I'm hoping this is a misunderstanding.



  • @qibucks dont give up. let me be your inspiration on that one. lol



  • I am still alive, i guess I can't give up, but had to sell because I can't afford to risk total loss.



  • @Ip85 I'm with you on this one too! I won't sell or buy this Asset until we hear from @Bitdv himself soon!!!


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