Steem-bet scam or incompetence? Maybe even both!
Maybe some people are trying to find a new gambling dapp to play after the exit-scam of Magicdice and the nice and controlled stop of @moonsteem (while I do regret that they are pulling the plug, I have lots of respect how they are pulling the plug!).
Well this post is for these people, which I do want to warn for playing on @steem-bet! I really would advise to stay away from this gambling dapp! It is just not worth it and it looks like they are also planning an exit!
Well we all make a mistakes. And making a mistake isn't bad as long as you learn from it!
Well in my case the mistake was having too much trust in @steem-bet! I really believed in their project, although some people did raise the red flags from the beginning. No idea why I just ignored their advice! Was I blinded by being an early miner? Was it greed?
Well no idea!
First big red sign!
The first big red sign was thrown by @broncnutz. He confronted them that they changed the token mining rules when people where already mining!
I was foolish enough to step into the discussion as a moderator. This discussion had a positive result!
They did increased the already mined STP by the players before the change of rules!
They also increased and improve their communication!
The token sale
They also introduced a separate token for investors. 2 sale rounds have passed. And although all the promised they made, only one round was paid out!
Getting worse!
They did promise to start paying divs from the moment 30M tokens were mined. They did deliver on that point. But after that the project went from bad to worse!
After the initial pay-out of dividends, they should have started by paying out divs on a daily basis! But they failed to do this day after day!
So they do refuse to pay out the daily divs for the SBT holders and the weekly divs for the SPT holders! Week after week the do come up with the same excuse! The SPT holders are already asking for a refund but this will not happen!
This week the steem-bet platform was full of bugs. I was accepting bets, showing results but the winning didn't get paid out! They did blame the blockchain, which was obviously running fine. @epicdice and @kryptogamers were paying out their winning like normal!
It took days for them to notice that things were going horribly wrong. Even they didn't notice that their own betting bot did ran out of funds!
I do play once a day! To control how the site reacts. And I notice that winnings were paying out. So I did confront them on their discord channel, but they only reacted 2 days later! After a day of searching for the won bet, they found it and did pay out the winnings.
But when I did try to play a roll of the dice today, it even got worse! They just take the money and don't roll the dice!
I know that when software is involved bugs are possible. Nor problem with that! Take @epicdice for instance. Even when the smallest bug is discovered they do put the site in maintenance mode so that no more damage can be done. They also corrected the token distribution in a nice manner!
So enough is enough!
There are 2 possible reasons for the actions above!
- They are so incompetent that they don't know what they are doing, getting strangled up in some spaghetti code and decided to give up!
- It is just a regular scam!
Well I really have no idea which of the 2 above scenarios is the correct one! But I do assume that it is a combination of the two!
Now they are also starting a gaming platform on Binance chain! Probably that is why they did need investors. They did scam the SPT investors to fund their project on the binance chain! I have to admit that a. I was ignorant and b. they did a rather good scam with the white paper and so on!
So this is a warning for both platforms!
Don't play on nor @steem-bet (steem blockchain) or https://betx.fun .
Be warned and stay away from them!
If you do want to roll a dice try the more legit projects like:
@kryptogamers (Krpytogamers: https://kryptogamers.com/dice/?ref=fullcoverbetting)
@epicdice (EpicDice: https://epicdice.io/?ref=fullcoverbetting).
Both gambling dapps do distribute their tokens via steem-engine! Not that this is a guarantee that they are legit but at least you are holding your own tokens (which are worthless if they pull the plug)!
Another possibility is the rather new @cupz (https://cupz.io?referrer=fullcoverbetting). I did try out their games yesterday evening and was rather surprised. Also cupz decided to use steem-engine!
Would appreciate a lot of resteems of this post, so that it reaches as much as Steemians as possible!
Cheers,
Peter
I never like that project from the start. I did play magic-dice as it seemed like a good platform but switched to cryptogamers solely for the poker. I managed to win a few tokens from the daily rankings but not anymore as everybody has switched to the site. At least I sold them and have some profit guaranteed.
It's shit how these other sites have played everybody.
Indeed it is.
I still like Kryptogamers and also Epic Dice where it is still possible to get on the daily leaderboard!
I do regret that KG combined the leaderboard for the 3 different games.
Cupz also has a leaderboard. Fairly easy to get on there to get some free Cupz!
Cheers,
Peter
That's a shame, Peter. So many scams in crypto-land. You have to wonder if it is malice or incompetence.
In this case I do think that it is both. I do think that they started out as a legit project but got interefered by their incompetence, resulting into a scam to build it again on the Binance Chain!
Cheers,
Peter
Thanks for using eSteem!
Your post has been voted as a part of eSteem encouragement program. Keep up the good work! Install Android, iOS Mobile app or Windows, Mac, Linux Surfer app, if you haven't already!
Learn more: https://esteem.app
Join our discord: https://discord.gg/8eHupPq
It is not cool for you especially you love gambling on Steem. :)
Posted using Partiko Android
The worst thing is that with the combination of the exit scam of magicdice it give a bad impression on the legit gambling dapps!
Thanks!
Posted using Partiko iOS
Such a shame to the platform and I hope you contain well the loss, lesson learnt the hard way. But frankly, my weekly entertainment was to go through their discord channel and read through the wall of messages. I hope they don't close it down so soon LOL.
Indeed lots of drama 🙀
Nobody did put a gun against ny head to do the investment or to believe in them!
You win some you loose some!
Hope that @epicdice will take the place of Magicdice, I do mean based on volume!
Looks like a legit project!
Posted using Partiko iOS
I give up on them two week ago .... and exit from the discord to spare myself from their pity excuses. They are trying to manipulate from the very begging.
A wise decision! The discord channel has become my daily soap!
Posted using Partiko iOS
To listen to the audio version of this article click on the play image.
Brought to you by @tts. If you find it useful please consider upvoting this reply.
Well..another one?
I wasn't very active in discovering and trying out Dapps but it's kinda sad to see that many of them are running into problems or just being a problem themselves...but that's how every platform grow, eh?
Maybe it is. The problem is that these things making people question legit projects, like we did see in the ICO hype, 2 years ago!
Ever since early on when they were withdrawing huge amounts of steem they made to deepcrypto8, I was wary of them. Add in the SPT had a rather big minimum set to buy a certain amount, no small amounts. I was happy to get the SBT initial divs but weeks of saying daily divs are coming kept me away from the platform. Cupz is definitely a great platform as is epicdice amd the teams.
Posted using Partiko Android
They even don’t react in a post like this. Which does say enough I guess!
I am thinking about setting up a gambling dapp label to make a distinction between the gambling dapps. Like trusted, neutral and doggy!
Posted using Partiko iOS
Steem-Bet has been dodgy from the get go. I had hoped they changed their ways, but they keep failing us again and again. It's a mind-boggling way to run a business.
Posted using Partiko Android
You made indeed the decision!
I am taking about setting up a gambling dapp label. Like trusted, neutral and doggy!
But can’t do this alone!
We need to protect the legit dapps.
Posted using Partiko iOS
Just post about it every week. You may even get a few upvotes. People can comment on it if they know anything you don't. Maybe we could think of a tag like #fairbet or something to use and if a game uses it a d we disagree, on come the downvotes for tag abuse.
Posted using Partiko Android