Bah, I think he it means the initial investors lose out on the ethereum based gains. They paid maybe $500 per 3000 chps (excluding bonuses) which are now implicitly $1000 for 3000 chps (because ethereum price has rose substantially). Coinpoker will adjust to the next stage to perhaps .5 eth for 3000 chps instead of 1 eth for 3000 chps.

Therefore devaluing the initial investors investment

I am terrible at deciphering this stuff and I'm not using perfectly accurate numbers, but from the complaints on the blog, it sees thats what they did.

I feel there is a management hole here. The software is commendable, the game flow is fast in relation.

I think at worst the increased ethereum price could be somehow factored in over time. As I understand, they just devalued everyone's investment, including free roll chips won....

https://medium.com/@CoinPoker/coinpo...s-53057d5dd27f

Chose a volatile currency and didn't think of this before? Did they expect ETH to stay the same forever? What makes this site better than Global or ACR or the traditional model? ETH has a competitor coming up that's using Java coding instead of the hard to learn ETH coding. Got a very bumpy road ahead. Just hope if anything goes wrong you all would actually get a refund.

QFT!!

Great points my man.

WTF man... is this the same guy that posted in the first 100 posts of this thread?

Did you land yourself a job by any chance?

All businesses should be willing to provide the names of ownership to the public. How would people feel if the owner was Ray Bitar for an example.

I think the thing to understand, is that, they are.. on the website. The team is listed right there on the front page.

Being so very, very early on in the project. While there may-well be a single person or persons, with a final say/more decision making authority.. perhaps that structure is still being decided upon fully.

In the modern-world, honestly with most start-up companies, this isn't at all uncommon!

I don't believe there is a bad reason, or even a PR related reason, that they aren't just naming some individual "owner".

I get it, we're poker players.. we try and analyze/make conclusions based on incomplete information, which is exactly the thought process I see in this thread.. having spent such a significant amount of time playing, following this project, and engaging in the chatrooms, my instincts are all positive.. based on the incomplete information I have at hand.

Furthermore; there is a lot of collective good reputation on that team to base some opinions on.

On a free market, this is legitimate. We can't simultaneously ask for free markets and regulation. Players are free to choose this site, or not. I made a relevant post in the decentralization of poker thread in nvg. Eventually the token for this poker casino will land on the exchanges and there will be a price established.

This price will outline the quality of the site, from the purview of the most prophetic oracle that exists: the market.

That price will tell the truth as an aggregation of all of the available information that the market players have available.

It is not a requirement that the owners and investors information is made transparent, nor is that a free market based request/sentiment. To require banks to be auditable is to imply regulation. Regulation is what taints the price signals. Only price signals clear of political noise can truly tell the players which sites are worthy and which aren't.

(no job, still independent )

If you invested in the pre-ico and are upset about the eth repricing, it's possible to get refunded your initial eth investment. Contact Tony G via telegram (he can be found in the coinpoker telegram group chat).

omg im on it.

In order to participate in the ICO, coinpoker requires you to send them your FIRST NAME, LASTNAME, E-MAIL ADDRESS and E-WALLET ADDRESS. See:
https://coinpoker.com/whitelist

Insisting that we provide our FIST NAME and LASTNAME to purchase CHP in the ICO completely goes against allowing us to remain anonymous. (i.e. Coinpoker can link our names to our private e-wallet address).

I understand that you may be asking for our names because you have a rule that an investor may not buy more than 1000ETH. But Coinpoker could police this via the E-MAIL field, without needing to know our FIRST NAMES and LASTNAMES.

I ask that Coinpoker remove the condition to provide our names from a pre-requisition to participate in the ICO. This directly contradicts the foundation of your site - being allowed to play poker anonymously.

Coinpoker, please comment and let us know if this requirement will be removed.

Also, I have a concern about the security of the site. I feel that Two-factor authentication login should be added immediately. Without this, poker players are at risk that their accounts are hacked and no poker player can keep any meaningful sum of money safely on the site.

Coinpoker - please tell us when two-factor authentication will be added? I feel that it should be done BEFORE your site opens for CHP deposits, as an urgent priority.

lolz. dont hold your breath.

They are either pretty dense in the PR / Customer service area.

Or

Are making so much money selling pixels, that they just dont really give a chit about poker or poker players.

Or

forgot their 2+2 password

Is all three an option?

Yesterday I've finished 5th in Monday 5000gtd tournament but my winnings r not transferred.This is very far from final product.

Ok. I'm monitoring both dialogues in this thread and the bitcoinforumtalk one. I'm going to make a suggestion. We can note:

Certainly there should be no devaluation of the CHPS, otherwise what is being offered?
Certainly players that spent the time testing the software and were promised CHPS if they won should be paid them.

Certainly your all in hole card %'s should be expected to be correct otherwise why would players believe your RNG was programmed to be secure?

And there is zero customer support or rapport with the players, which is by far the easiest aspect to deliver (and OBVIOUSLY the most important aspect).

My recommendation, given I have followed all of the emerging projects and have a great interest in the success of this new age of poker, is that this thread locked until a reasonable coinpoker rep addresses these issues in a reasonable communicative manner.

Each of the points I have listed are in themselves alarming. To put them all together especially the devaluation of the CHPS, is indefensible. I couldn't recommend this as an investment. I have no reason to believe they won't abandon the project and the investors and take the profits that were made (especially from the ethereum gains).

I'm recommending to any mod or admin from 2p2, with any credibility I might have, that there is a likelihood this site will damage your reputation. Obviously not in a huge way, but deciding if this is a good thing or a bad thing for this forum's business, they MUST show something better than this. I am COMPLETELY not comfortable with it.

It's is a crying shame because the software is very slick and appealing.

Also I nudged Isabelle mercier (nicely) on twitter for help on clarification, as she had answered me once before, and she ignored me, which makes me suspect she is second guessing staking her reputation on the project.

edit: also this is what I was talking about in regard to Josem's security role. He already told me has nothing to do with anything else. But this is a problem because the players can be cheated and ripped off and the way the division of duties is set all parties whether developers, Josem as head of "gaming/player" based security, and the owners can each wash their hands of it and claim "plausible deniability".

This changes everything.

I want to make a 2nd post because i want this point to stand out. Again, perhaps I have this wrong, but there is no one here to clarify.

Investors bought in at 1 eth per 3000 CHPS. The eth price was around 300 usd at the time and is now 1200. Coinpoker said they are going to adjust how much the new CHPS cost based on this increase in eth price.

If coinpoker decides newly released chips will be sold at 300 today, then it substainly rips off the investors that already bought in. It also rips off any players that were lead to believe that they were playing to win CHPS at the rate they were initially sold at.

It is a crime.

Imagine you invest 10,000usd in eth and those eth were now implicitly worth 30,000 usd.

Your CHPS are now worth 66% less than if you didn't invest, meaning you are unlikely to even recoup your loss.

Meanwhile the people running the project just made a management decision that siphoned 66% of the investors expected gain into their own pockets.

And if this project fails? You keep that money? WTF is going on here?

edit: the CHPS are supposed to be finite, but if you are already adjusting the value of them then why would players believe that in the future you won't (effectively) fork the project and increase the supply.

Also what if a player can't pass your validation, do they lose the months worth of CHPS they accrued? How can I know I will even qualify for verification? Seems like players will get to the end of the month just to find out their chips are worthless to them because they cannot claim them.

The last post from the rep was 6 days ago and this project has received 6 million dollars in investments which has risen to 18 million as I understand. They are in the MIDDLE of their initial coin offering. It is ridiculous to not have daily support at this time.

Nooseknot you are now calling a spade a spade. I get that you are very excited about this project and other crypto currency projects but there comes a time when you have to gauge things by what they are (facts) and not how you'd like them to be. (hope) Good on you for doing so.

For myself I saw this product as a likely pump and dump after the rep didn't answer my question on who the owners were. Others need more convincing.

I saw this project as an interest free loan that's now worth $18M... lol the least they could do is refund the $6M and make it not seem like a scam.
I'm sure they sold the ETH and just waiting for it to drop so they could rebuy and refund.

Or they can give free chips to pre ICO investors to equal denomination.

Ok I was just in the telegram chat. The support there is also non-existent, but oddly enough Tony G came in. And i am quite certain it was him. The staff and players there said he is available there the other day. It was quick and he seemed like Tony G (as if he was on a yacht partying). He said the players that didn't get paid would, and said things like "if you want your money back its all good" and "its crypto tech".

Coinpoker released an update:

I understand the ICO better. The presale with done in EUROS, and so the differing eth price is not a claim the presale sale participants have a claim to. The "decision" is simply about matching the new ethereum price to the old peg, they simply can't decide it until the closer to the date because it can still change.

Provided they really do attempt to match the intended over then its not a problem, and they cannot be judged on it now. This is how I understand. I admit I am terrible with this.

If it was in Euro then that decision makes some sense i guess.

Was positively surprised about the update email as well.

Yes bad communication. You reminded me of the most important part. I PLEADED hard with Tony 3 times to get proper support for 2p2 and he specifically said he would take to people about it.

Here is some info another player gave me to post:

It's interesting that they claim Tony G has no ownership stake yet he's the one refunding people.

We are all sorted now.Winnings r transferred. It is fair to mention.

https://medium.com/@CoinPoker/an-ope...s-97497bb1212f

Thats better

I'm gonna pretend they said it would be a proper payout split as well.