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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: Market Still in Deadlock

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The choppy, directionless period in the cryptocurrency segment continues, with no meaningful change in the technical setups of the major coins. While the broader trends are still clearly bearish and sellers remain in control of the market, we saw another minor bullish shift in the past 24 hours, with modest gains across the board.

Most of the top coins are trading in the range of the Monday session, which saw the spike triggered by the turmoil in Tether. Stellar is the apparent positive outlier of the past few days, while Dash, Litecoin, and Ethereum have been the weakest so far this week.

DASH/USD, 4-Hour Chart Analysis

On a positive note, all of the majors remain above last week’s levels, and especially Bitcoin’s continued stability is encouraging for crypto-bulls here, even as our trend model paints a negative picture of the segment.


BTC/USD, 4-Hour Chart Analysis

Bitcoin avoided a test of the $6275 level despite moving below its recent very narrow trading range yesterday, with still no meaningful bearish or bullish momentum present in the coin’s market. BTC continues to trade below the $6500 level, and its volatility is very low, even after the move below the previously dominant broad triangle consolidation pattern.

Further resistance levels are still ahead near $6750 and $7000, while support levels below $6275 are found near $600, $5850 and between $5000 and $5100.

Altcoins Little Changed as Ethereum Still Glued to $200

XRP/USD, 4-Hour Chart Analysis

The weekend has been very quiet for altcoins so far, with even the recently active Ripple settling down near the $0.46 level. XRP is around the midpoint of Monday’ s range but the lack of follow-through after the breakout from the triangle consolidation pattern is a negative sign, and the coin remains on a short-term sell signal in our trend model. Strong resistance is still ahead at $0.51, $0.54, $0.57, while support is found near $0.42, $0.375, and $0.35.

ETH/USD, 4-Hour Chart Analysis

Ethereum continues to hover around the $200 price level still being in bearish short- and long-term patterns and the relative weakness of the second largest coin remains a huge concern for the whole segment.

With no evidence of meaningful capital inflows to the market, the outlook is neutral at best, and traders and investors should wait for at least a short-term trend change before entering new positions. Strong support is found near $180, $170, and $160, while resistance is ahead near $235 and $260.

EOS/USD, 4-Hour Chart Analysis

EOS is also among the relatively weaker coins, and the coin is stuick in a broad Trading range around the $5.35 level since August. Volatility in the coin’s market has been progressively declining, but the vicinity of the bear market low suggests that the long-term downtrend is still intact, especially given the segment-wide trends.

A test of the lows is still more likely than a bullish break-out, with strong support found near $4.50 and key resistance ahead near $6 and $6.5.

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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4.6 stars on average, based on 380 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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Altcoins

Cardano Price Analysis: ADA/USDT is Eyeing a Big Move Out of Current Technical Setup

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  • Positive update from IOHK audit of Icarus by Kudelski Security.
  • ADA/USDT is moving within a pennant pattern formation, subject to breakout.

Solid Icarus Audit reported by IOHK

IOHK recently announced in their forum that an audit was conducted by Kudelski Security, which is an independent and third-party security audit firm. The audit conducted demonstrated that the Icarus project implementation for Cardano looks all good and set to go, without any major problems. However, a few changes may need to be executed. IOHK developed the Icarus code as a reference implementation, for Cardano light portfolio.

The important of “independent audits, like this one was stressed by IOHK. Stating “they are critical for identifying security issues in the Icarus wallet, that may not have been identified by internal audits”.

Furthermore, IOHK has elucidated Icarus as an open source code base serving as a reference for the creation of safer and easier mobile wallets for Cardano. They said, “this guarantees our customers and clients the safest portfolio we can offer.”  Given the benefit of an external audit, the developers can resolve any problems identified during its product launch audit.

Positive Updates from Cardano Founder

Cardano’s founder, Charles Hoskinson, was recently commenting on Cardano’s future. He said “We have so many amazing things coming out.”

Mr Hoskinson further added that one of their scientists has flown in from Switzerland. They will be doing a video, which will be the first time they have ever talked about their sharding design that we have for Cardano. Further commenting on other updates, including videos about Shelley and the Rust project.

Technical Review – Daily Chart

ADA/USDT daily chart

ADA/USDT is moving within a triangular pattern or a pennant formation, as seen via the daily time frame. It is narrowing, moving closer to a breakout. Ranging ahead of another drop to the deep south. Although, fundamental developments coming out from the Cardano foundation, remain very much upbeat currently.

Over the past 8 days, the price has been grinding higher, after receiving support at the lower trend line of the above-mentioned pattern. In terms of resistance to the upside, this can be seen at 0.08310000. The upper tracking trend line. Further north, a supply zone is running from 0.09000000-0.09500000. ADA/USDT  last traded here on 23rd September. Finally, support is tracking at 0.071800000, lower part of the pennant, also within a demand area. Another strong buying territory is observed from 0.06500000-0.06000000.

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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4.5 stars on average, based on 33 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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Crypto Update: Top 10 Worst Performers Make Bottom Picking List

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Yesterday, October 18, 2018, Cryptoglobe published, a list of the 10 worst performing cryptocurrency investments of 2018. These altcoins suffered heavy losses of between 97% – 99%. With tremendous devaluation, it may lead you to think that altcoins or cryptos are dead. After all, other assets such as stocks or commodities may likely never come back to life after losing all but one percent of their value.

But this is crypto where coins nosedive one day and skyrocket the next. Cryptoglobe can show you a picture of tragedy, but us; we see opportunity. In this two-part article, we reveal how the top 10 worst performing cryptocurrency investments can make a good bottom picking list.

Zclassic (ZCL/BTC)

% Down from All-time High:

99%

Current Status:

Zclassic/Bitcoin (ZCL/BTC) is currently finding footing at its historic support level of 0.0005. In the last four weeks, the pair has been range trading between 0.0005 and 0.000074.

Bottom Picking Candidate?

An altcoin that’s down 99% is a great bottom picking candidate. Aside from the possibility of a technical bounce, you can expect whales and expert bottom fishers to accumulate positions at this level. So, you can either trade the range or accumulate with the best of them.

Weekly chart of ZCL/BTC

Game Credits (GAME/BTC)

% Down from All-time High:

98%

Current Status:

GAME/BTC is attempting to carve a bottom at the parabolic support of 0.000025. Over the last four weeks, the pair has been trading between 0.000025 and 0.0000346.

Bottom Picking Candidate?

Yes, GAME/BTC has the potential to generate a strong rally in the coming weeks. Volume spikes on September 23 and October 4 hint that someone is accumulating at these levels. More importantly, the market is flashing oversold readings on the weekly RSI. GAME/BTC has the essential ingredients of a powerful bounce.

Weekly chart of GAME/BTC

Bitcoin Diamond (BCD/BTC)

% Down from All-time High:

97%

Current Status:

BCD/BTC is currently trading inside a huge falling wedge on the daily chart. It is still bearish as it continues to generate lower highs and lower lows.

Bottom Picking Candidate?

No, BCD/BTC is not a great bottom picking candidate. However, the pair looks ripe for a breakout. The usual catalysts are present: flashing extreme oversold readings, nearing the apex of the wedge, and trading at all-time lows. Look for volume spikes as a sign of a breakout.

Daily chart of BCD/BTC

Ethos (BQX/BTC)

% Down from All-time High:

97%

Current Status:

BQX/BTC has been carving a bottom at 0.000045 for over a month now. Those who were able to buy at this level are lucky because BQX/BTC is looking ripe for a rally.

Bottom Picking Candidate?

Yes, if you can still manage to get as close to 0.000045 as possible. The volume surges in the last few days suggest that the pair is in the final stages of base building. On October 14, BQX/BTC printed volume that’s over 250% of its daily average.

Daily chart of BQX/BTC

SALT (SALT/BTC)

% Down from All-time High:

97%

Current Status:

SALT/BTC may already be in an uptrend but it seems that only a few people are looking. The 4-hour chart shows that the pair is currently generating a bullish higher low after pulling back from its first higher high in months. SALT/BTC looks bullish in our book.

Bottom Picking Candidate?

Yes, this pullback gives you an opportunity to buy the higher low. We expect SALT/BTC to trade near the support of the ascending channel as it consolidates.

4H chart of SALT/BTC

Bottom Line

In trading and investing, the worst performing cryptocurrency investments and other assets often provide the maximum financial opportunity. We’re seeing that in the first half of the list. We have a feeling that we’ll see more or less the same in the second half of the list. Stay tuned.

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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3.7 stars on average, based on 252 rated postsKiril is a financial professional with 4+ years of experience in financial writing, analysis and product ownership. He has passed all three CFA exams on first attempt and has a bachelor's degree with a specialty in finance. Kiril’s current focus is on cryptocurrencies and ETFs, as he does his own crypto research and is the subject matter expert at ETFdb.com. He also has his personal website, InvestorAcademy.org where he teaches people about the basics of investing. His ultimate goal is to help people with limited knowledge of finance and investments to create investment portfolios easily, and in line with their unique circumstances.




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