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ICO Analysis: Decent.bet

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The concept of Decent.bet’s crowdsale is not overly complicated, so we won’t give an overly complicated explanation. In essence, they are selling 250,000,000 tokens which can later be exchanged for “house credits” on an exchange they will build. These house credits are locked for three months by the house which uses them, as the platform can be used by other casinos as well, and at the end of that period the user redeems the credits that were locked, plus profits, which they can then sell for DBET tokens, which can be traded for Ether and such.

Thus, if you’re betting on these tokens, you’re betting on their utility being potentially very lucrative. This would drive demand for the tokens. According to the whitepaper, 70% of the tokens generated will be the ones sold to the public. 30% in relation to the amount sold will be generated and distributed among the team. This is a bit higher than we like to see.

Also, the tokens distributed during the duration of the crowdsale will represent 70% of the total supply of coins. The remaining 30% will be minted at theend of the crowdsale and would be allocated as follows: 18% time-locked founder’s share –withdrawable after 1year. This incentivizes the Decent.bet team to develop the platform and remain motivated to grow token value at a steady rate. 10% held by thecontract that can only be used to establish the house. This initial deposit into the house will be accounted as a contribution by the founders entitling the founders to the resulting DBET house credits profit. 2% used for bounties –Bitcointalk signature campaigns, Social media campaigns, Blog posts, translations and more.

Full Casino

Decent.bet will be offering a full casino and a lottery, all provably-fair, decentralized, and blockchain-based. This will be a positive offering in the world of Bitcoin gambling, of course. Further, they will offer the ability for others to easily operate their own casinos based on the platform without necessarily directly crediting the Decent.bet team for the work. Which is fine – that’s the idea. If other teams with better marketing want to launch their own full casinos on the platform, that is fine with the Decent.bet team, because it still helps the platform and the token value grow.

 

Provably-fair gambling is really only just getting started. As cryptocurrencies have become more and more mainstream, more and more people will become interested in them who also are interested in traditional gambling. When you realize that the house is unable to cheat through the miracle of cryptography, and that you can gamble 24 hours a day, a lot of people flock to it. Gambling websites are some of the most popular Bitcoin destinations at present. At any given time, sites like PrimeDice or Stake have thousands of people on them.

The point is that, properly done, blockchain gambling can be an extremely profitable endeavor for the operator, and anyone who invests in them. That’s why we have to carefully consider the offering here.

Unfortunately, this author and analyst does not feel that we have enough to really evaluate. The author is not an advisor, he just analyzes what the ICOs offer and issues a rating based on his long experience as a cryptocurrency enthusiast and investor. The numerical rating on this ICO is going to be low at this point because:

1) we don’t know enough about the people who are operating the ICO, and therefore we have no reason not to believe they’ll simply exit scam.

2) there is a barrier to liquidity and exit, and also 3-month lock-ups for profit are significantly long in the cryptocurrency world. When pitted against every other ICO offering which could yield high returns, we have to rank this one lower.

Is there a chance they’re simply going to run off with the Ether raised? Of course there is! We don’t know an awful lot about the team to begin with. We have to be wary on these grounds, and deduct points based on such a rubric as: there have been other successful ICOs where the people behind it were unknown, but they’re few. We have to caution against anything anonymous, because there are so many options which are not. You could take the same money you might invest in this project and put it in something that Vitalik Buterin touches (OmiseGo, for instance), and probably make a profit. So why recommend things that we can’t be sure of?

Sure, we like the sound of this project.

Great In Theory

The advent of good gambling platforms, like DAO.Casino or even potentially this one, means a lot of money can be made by those who are savvy enough to invest in the right plays. We wish we could truly say this would be a safe one to dump some coinage into, but we can’t, at this point, fully recommend it. Perhaps a cautious, small amount of investment would be appropriate, once they release the details of what they want to charge for the tokens at the outset.

One thing that will have to happen for this to be a profitable endeavor for the token buyer is that exchanges will have to list the DBET ERC20 token right away. This would provide everyone a cushion to get out if they so choose. Without this, the thing is really dead in the water, because the actual liquidity of the token may be wildly different than people expect if they lock their tokens up in casinos before they’re actually able to know what the tokens are worth.

However, the idea that people might get involved just for the prospect of getting more tokens is absurd. In the end, if you’re investing, you want to be able to cash out to something that is good as gold, like Ether or Bitcoin, not more of an unknown token that you purchased solely to invest with.

Perhaps the token would be better if it could be directly invested, instead of exchanged for house tokens. That part is just another barrier to the realization of profit, it would seem, although the purpose appears to be to allow various houses to offer credits for sale to investors. These house credits are later returned with a profit – they are used to stake the house bets. Then, the investors are of course free to gamble in the houses they invest in, as well, which is an interesting prospect, because the odds of actually losing money are lessened when you get a piece of even your losses. So that’s an interesting aspect, but again, everything hinges on there being some exchange where you can trade with others for Ether once you have increased your holding of these tokens, or established it in the first place, for that matter.

The Verdict

We have to say that if you were to invest in this, the wise move would be to invest very little or post-ICO, once the token is on an exchange other than the one that allows you to trade for house credits.

Risk

The inherent risk here, for which we deduct 3 points off the top, is that the thing does not attract enough people to make any money, so investing in anything that buys you an investment in it is ultimately a waste.

Growth Potential

If the marketing team and the rest are able to generate enough attraction, and enough growth happens around it, then the tokens will be valuable for staking various casinos. As such, given what we’ve seen with the DAO.Casino token:

 

Thus we can say that the amount you should invest really depends on the cost of the tokens, but we definitely want to be fair, so we lend 6 points for the potential that a variety of casinos to invest in presents.

Disposition

As such, we come up with a numerical disposition of 3 for this ICO. We would urge caution in any investment here. Details on the ICO are forthcoming at their website.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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5 stars on average, based on 2 rated postsP. H. Madore has covered the cryptocurrency beat over the course of hundreds of articles for Hacked's sister site, CryptoCoinsNews, as well as some of her competitors. He is a major contributing developer to the Woodcoin project, and has made technical contributions on a number of other cryptocurrency projects. In spare time, he recently began a more personalized, weekly newsletter at http://ico.phm.link




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Analysis

Crypto Update: Bitcoin Touched $4000 as Broad Rally Continues

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Yesterday’s break-out to new short-term highs continued today in the cryptocurrency segment, with Bitcoin’s push towards the $4000 making headlines in the segment. The most valuable coin surged past the $3850 level, dragging most of the majors higher, but Ethereum and most of yesterday’s leaders lagged behind BTC during today’s session.

That said, the short-term trend remains positive in case of the majority of the coins, and even though some of the top currencies are overbought, the counter-trend move could continue. In light of the increased activity, trading volumes, and volatility in the market, the majors might be in for a more sustained bullish, move, and as now only Ripple is showing clear signs of relative weakness, despite today’s rally, the leadership of the short-term move looks healthy.

While the long-term picture is still clearly negative in the segment, until the newly established short-term uptrends remain intact, traders could still play the move, sticking to strict risk management rules and relatively small position sizes.

BTC/USD, 4-Hour Chart Analysis

While Bitcoin left behind the initial resistance level near $3850, and quickly rallied up to the strong longer-term zone between $4000 and $4050, it might need to consolidate before another push higher. BTC is slightly overbought from a short-term perspective, and given the significance of the resistance, traders could exit a part of their positions here.

The $4000-$4050 zone stopped the year-end rally (outside of a brief, failed break-out), and a move above it could open up the road towards the $4250 and the crucial $4450 levels. Below $3850, further support is found near $3600 and just above $3450, and our trend model remains on a short-term buy signal and long-term sell signal.

ETH/USD, 4-Hour Chart Analysis

Ethereum continues to trade near the $145 resistance level following yesterday’s surge, and bulls are still eyeing a test of the next major resistance zone near $160, which marked the top of the previous counter-trend move in the coin.

While the coin is still overbought form a short-term perspective, given the momentum if its recent move, the rally could continue after a brief consolidation period. The newly-established uptrend is intact in ETH, and traders could enter new positions should the overbought readings got cleared, with support levels found near $130 and $112.

XRP/USDT, 4-Hour Chart Analysis

Although Ripple continues to be relatively weak compared its major peers, today it spiked to a new 5-week high, riding the market-wide trend and testing a strong declining trendline in the process. The coin triggered a short-term buy signal in our trend model by topping its January swing high, but given its relative weakness, traders should focus on the more bullish coins during the current counter-trend move.

The long-term setup remains negative, and from a broader perspective, odds still favor the test of the key long-term $0.28 and $0.26 levels, with further support levels found near $0.32 and $0.30, and with short-term targets being ahead near $0.3550, and $$0.3750.

EOS Continues to Lead but Litecoin Struggles to Gain Ground

LTC/USD, 4-Hour Chart Analysis

LTC continues to trade slightly above last week’s highs but compared to the leaders of the current leg of the rally it remained relatively weak today. With that and the still negative long-term setup in mind, traders should exit a part of their positions here, even as the short-term uptrend is intact and a push towards the next major resistance level near $51 is still possible. Our trend model is still on a buy signal, as a failed break-out is not yet confirmed, with support levels still found near $44, $38, and $34.50.

EOS/USD, 4-Hour Chart Analysis

EOS remained relatively strong today, spiking above the $3.80 level after leaving behind the $3.50 resistance. Now, the coin is clearly overbought from a short-term perspective, and that led to a downgrade in our trend model as a pullback is now likely.

The short-term trend remains bullish despite the correction risks, and should the coin clear the overbought momentum readings traders could reenter their position following strict risk management rules. Support is now found near $3.50, $3, and $2,80 while strong resistance is ahead near $4.50 and $5.

Featured image from Shutterstock

Disclaimer:  The analyst owns cryptocurrencies. He holds investment positions in the coins, but doesn’t engage in short-term or day-trading, nor does he hold short positions on any of the coins.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.7 stars on average, based on 466 rated postsTrader and financial analyst, with 10 years of experience in the field. An expert in technical analysis and risk management, but also an avid practitioner of value investment and passive strategies, with a passion towards anything that is connected to the market.




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XRP Price Analysis: Explosive Breakout from Pennant Confirmed; SBI Holdings CEO Bullish on XRP

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  • XRP/USD is enjoying three consecutive sessions of gains, having jumped around 17%.
  • SBI Holdings CEO believes XRP market capitalization will be higher than bitcoin’s.

Ripple’s XRP price has been enjoying a decent move to the north over the past few sessions, as life flows back into the bulls. XRP/USD is currently running at a third consecutive session in the green, having gained around 17% within this period. The explosion of buying pressure came after the price managed to escape a bullish pennant pattern.

XRP/USD: Price Recap

XRP/USD had initially been cooling since the big bull run at the back end of 2018. The price rallied on 24th December up to a high of around $0.4670, before quickly losing upside momentum. It was then forced to trade within the confinements of a descending wedge pattern. XRP lost over 30% in value before it was able to break out from the wedge.

On 8th February a chunky push higher from the bulls was observed, resulting in a breach of the upper acting trend line. XRP/USD jumped around 10% on this day but then eased south to retest the trend line for a few sessions. During the cooling period, price action has formed a pennant structure which saw an eventual big breakout to the upside, as described earlier.

SBI Holdings CEO Bullish on XRP

The SBI Holdings CEO, Yoshitaka Kitao, was recently speaking on XRP and said this year is a significant one for the so-called banker’s cryptocurrency. He believes that the market capitalization of XRP is likely to dwarf bitcoin’s at some point in the future. Kitao has firm belief in the future sucess of XRP and can see it being adopted on a global scale. He was quoted saying:

“Because XRP is already beginning to become international, xRapid will be used for fund transfers in 2019. By increasing the so-called XRP’s plastic use, we anticipate that the XRP market capitalization will easily exceed the market capitalization of bitcoin.”

SBI has many joint ventures set up with Ripple across the blockchain industry; it’s therefore not too surprising to see such comments. The organization will also be launching its very own cryptocurrency exchange called VCTRADE, scheduled for March. Deposits and withdrawals for bitcoin, XRP, and Ethereum (ETH) are already available on the platform.

Technical Review – XRP/USD

XRP/USD daily chart.

Given current upside, eyes must now be on the next likely barriers of resistance for the bulls. A supply area noted from $0.3450 up to $0.3600 is the next target; XRP has not traded comfortably above this region since 10th January. A break above this zone should put the bulls in an excellent position to retest the $0.4000 area. On several occasions, this price territory has caused issues for the bulls in their attempts to push further north. In terms of support, this is seen back down at the psychological $0.3000 mark. If that fails to hold, then there is a demand which runs from $0.3000 down to $0.2500.

Disclaimer: The author owns Bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.6 stars on average, based on 124 rated postsKen has over 8 years exposure to the financial markets. During a large part of his career, he worked as an analyst, covering a variety of asset classes; forex, fixed income, commodities, equities and cryptocurrencies. Ken has gone on to become a regular contributor across several large news and analysis outlets.




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3 Things You Need to Know About the Market Today: New High in Gold, Dow 26,000?, Euro Weakness

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1, Gold Jumps to 9-Month High, $1360 in Sight

Gold Futures, 4-Hour Chart Analysis

We have been following the resurrection of gold in the past few months, and since fundamentals just got better for the precious metal, the current technical strength is great news for long-term investors. Today, gold quietly reached a new 9-month high, despite the still ongoing risk rally and the relative strength of the US Dollar.

The metal topped the $1330 level, and with the next major resistance level being found near $1360, a quick surge to the vicinity is in the cards in the coming days. We continue to advise holding gold for the long run, and for now, the short-term technicals also remain bullish. Should the risk rally finally roll over, the uptrend could even accelerate, with longer-term targets being found near $1400 and $1550.

2, US Stocks Drift Lower After Long Weekend as Trade Talks Resume

Dow 30 Futures, 4-Hour Chart Analysis

US stocks are having a quiet start for the day, with the major indices drifting slightly lower following the long weekend. The US economic calendar is empty today, and all eyes will be on the trade talks with China which are set to resume today in Washington in the wake of the unexpected extension of last week’s round of negotiations in Beijing.

The Dow, which approached the 26,000 level last week during the Friday surge to new 9-week highs, is lower today, in-line with the market-wide trends. The mega-cap index could get a lift in early trading thanks to the better-than-expected quarterly report by Walmart (WMT). The firm’s holiday-quarter sales topped estimates, despite the reports regarding the widening growth-gap between online and brick-and-mortar stores, and in light of the positive guidance by the company, the pre-market surge in the stock is no surprise.

With the week’s main economic releases coming in the second half of the period, today we could be in for another choppy session on Wall Street. That said, the momentum of the recovery-rally continues to be suspicious, and especially given the weakness in the Nasdaq, investors should pay close attention to the Volatility Index (VIX), market internals and other under-the-hood indicators for signs of negative divergences.

3, Euro Under Pressure Again, Despite Sentiment Beat

EUR/USD, 4-Hour Chart Analysis

While the Dollar’s break-out to new multi-year highs still didn’t happen last week, technicals continue to agree that the long-term uptrend in the reserve currency will continue. The Euro, on the other hand, is still showing signs of broad weaknes, drifing lower against the Dollar and the Pound today, despite the better-than-expected German Zew Economic Sentiment report.

The indicator is still deep in negative territory, and together with the recent weakness in the Eurozone PMIs and industrial production, recessionary fears seem to be legit in Europe.

We will have a new batch of PMIs coming out tomorrow, and together with the Fed minutes a huge day could be ahead for forex markets and especially for the EUR/USD pair. The 1.12 level could be tested in the case of another negative surprise in the PMIs, while the Fed minutes will be under scrutiny even more than usual following the sharp dovish shift by the Central Bank.

ChartBook

Major Stock Indices

S&P 500 Futures, 4-Hour Chart Analysis

Nasdaq 100 Futures, 4-Hour Chart Analysis

VIX (US Volatility Index), 4-Hour Chart Analysis

DAX 30 Index CFD, 4-Hour Chart Analysis

FTSE 100 Index CFD, 4-Hour Chart Analysis

EuroStoxx50 Index CFD, 4-Hour Chart Analysis

Nikkei 225 Futures, 4-Hour Chart Analysis

Shanghai Composite Index CFD, 4-Hour Chart Analysis

EEM (Emerging Markets ETF), 4-Hour Chart Analysis

Forex

USD/JPY, 4-Hour Chart Analysis

GBP/USD, 4-Hour Chart Analysis

EUR/GBP, 4-Hour Chart Analysis

AUD/USD, 4-Hour Chart Analysis

Commodities

WTI Crude Oil, 4-Hour Chart Analysis

Copper Futures, 4-Hour Chart Analysis

Featured image from Shutterstock

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.7 stars on average, based on 466 rated postsTrader and financial analyst, with 10 years of experience in the field. An expert in technical analysis and risk management, but also an avid practitioner of value investment and passive strategies, with a passion towards anything that is connected to the market.




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