Part 1 — introduction and questions from the Website
Q1: Ed, could you please introduce yourself and tell us more about Casino Betting Coin!
A1:
Hello again,
I’m Ed Brennan, President of Casino Betting Coin. I have over 25+ years combined experience spanning Internet, Software, Hardware, and Financial Services industries, supporting all operational functions at Fortune 500 companies including Merrill Lynch, Seagate, Adobe, Microsoft, and NexTag.
Q2: And what about Casino Betting Coin? Could you tell us how it started? And about its main concept
A2:
Sure, I’d love to.
Casino Betting Coin (CBC) is a crypto acquisition by Greentube, the interactive division of Novomatic.
Novomatic is one of the largest gaming technology companies in the world with more than 22,000 employees worldwide and a turnover of around 2.6 billion EUR in 2019.
To learn more about Novomatic and how mind-blowingly big it is, please visit: https://www.novomatic.com/en/explore-novomatic/about-novomatic
This is an industry GIANT going into crypto.
CBC represents industry adoption of crypto.
Very few crypto projects, even those in the Top 50, can claim to be backed by a multi-billion dollar enterprise that is among the leaders in its industry.
Q3: Thank you for the awesome intro u/EBrennanCBC! Are you ready to start the first part of our AMA?
A3:
Yes, I’m very excited to proceed.
Q4: Casino Betting Coin is quite an interesting project, and best of all, unlike many new DeFi projects, it really has quite a market. So, tell us about your expansion plans? What gaming companies are you planning to partner with? Tell us how the recent incorporation of CBC into GameTwist has influenced you. What other platforms are currently in the pipeline to incorporate CBC?
A4:
It’s true that one of the great things about casino tokens is that they have direct utility for use by a ready market.
After all, mankind has been known to engage in betting since the dawn of history.
Casino tokens having a ready market is especially true for Casino Betting Coin that is supported by one of the biggest companies in the industry, with all the casinos and platforms in its ecosystem.
There will be no lack of users.
Integration into the Novomatic ecosystem, starting with GameTwist.com, has been a game-changer for us.
We are now being approached by other casinos very keen to integrate CBC. We are picking the best options and moving forward.
We are also in discussions with another top-tier exchange regarding a listing and a potential investment in CBC.
We are building momentum, and truly believe CBC has a greater potential upside than Bitcoin right now.
Q5: As you are integrating with casinos which requirements for this they have? Do your users have to pass KYC for example?
A5:
CBC is open for everyone to hold and use subject only to the requirements or restrictions of each casino, which may differ by jurisdiction.
Q6: One million new users can now enjoy casino currency betting at Top Social Casino. What are the bonuses given to users who choose to shop with CBC? With MoonPay’s fiat to crypto on-ramp, even cryptocurrency newbies can enjoy the CBC bonus with a bank card? Which cards will initially be able to support CBC?
A6:
Yes, with MoonPay, players don’t need to know about crypto to buy CBC on GameTwist.com with any MasterCard or VISA bank card, or via bank transfer, and receive playing chips (on GameTwist, these are game credits called Twists).
People can now “use blockchain without knowing that they’re using blockchain” like this, which marks how mature the technology has become.
For those who do know crypto and hold CBC purchased from exchanges, an option is also available to send CBC manually for playing chips (i.e. Twists).
Buying CBC on GameTwist—either through a bank card gives players a 750% bonus to their received Twists. Check it out by going to GameTwist.com, logging in/registering an account, and going to Shop.
Q7: Can we withdraw CBC from Game Twist? Or we get just Twists there?
A7:
CBC is bought to play games on GameTwist, but you can’t withdraw. It’s a social casino focused on providing entertainment.
You’ll still need to pay to continue playing, for example how you would pay to play a non-casino game online. Except here, of course, we’re talking about games that you’ll find at a casino.
It’s not for hardcore gamblers, but there are also lots of people who enjoy just playing, and are paying for that entertainment. GameTwist has millions of active users.
CBC will also be integrated into more casinos of different kinds.
Q8: Got it! But you really have great insensitive to use CBC
A8:
Indeed, buying CBC on GameTwist gives gamers a 750% bonus in playing chips, i.e. Twists, received.
Q9: Ready for the next question or you want to add something?
A9:
GameTwist is fun and everyone should try to at least check it out and play a few games. Of course, if you want to continue playing, you might want to purchase some CBC to use there.
Ready!
Q10: One of the coins which I was holding also was affected by the KuCoin hack. And I know how hard it is to normalize the situation if a project is rejected to do a swap. Could you tell us why you reject the idea of swap? What percentage of coins is still locked on KuCoin? As I see they’re practically locked because of the current withdrawal fee and withdrawal limit. Do you have plans to delist from KuCoin and what is your vision of this situation?
A10:
Others have also asked a similar question—why not mint new tokens to replace those locked or lost on KuCoin? This is not possible since CBC is a truly decentralized cryptocurrency, with no unli-mint function in the token smart contract. No new tokens can just be created.
As for doing a token swap, that’s also impossible because of several reasons. I’ll just talk about the biggest ones. A swap can only go ahead with the cooperation of many parties and will affect many stakeholders. This will be troublesome to:
1.) To the token holders and users:
CBC is a utility token and is already live at a social casino with millions of users. Imagine holding it for use at a social casino, and then finding out you can’t, because you need to first do a token swap that would cost you gas, all this because of something unrelated to you having acquired the token for actual use.
2.) To other exchanges where CBC is also listed:
They would not want to go along with a swap just because another exchange got hacked. If this were to be the practice, then tokens will need to swap for every hack, and every exchange would need to work on supporting all these swaps. That would be a very bad practice and is also not the current practice. Users of DEXes would be unduly affected too with permissionless listings and liquidity allowing them to buy the old tokens even with a swap underway.
3.) To the casinos and other platforms and services we are integrated into:
A swap would pervasively affect CBC integrations with, not just casinos, but payment providers, etc.
4.) To Greentube Novomatic, which is an established corporate entity operating mostly outside of crypto and that needs to follow corporate laws, rules, and regulations in different jurisdictions.This is a big company that can’t just swap a significant balance sheet asset for another. Imagine if it’s any other asset—let us say, gold. Greentube can’t just switch assets because of an issue with the gold depository, for example. The depository is responsible for resolving its own issues. That’s how it is professionally done in the real world, and CBC is a real world asset with real world active utility.
Just to name some.
Kucoin has acknowledged responsibility for the hack and the losses incurred because of it. We are waiting for Kucoin to finish resolving this like it has done, and rightfully so, for other tokens.
For more context, please refer to our statement on the KuCoin hack: https://casinobettingcoin.com/a-statement-from-casino-betting-coin-on-the-kucoin-hack/
Q11: Do you know how many tokens now are locked on KuCoin? I mean CBC tokens?
A11:
Around 7M, if I’m not mistaken.
Q12: Initially, you were known as CashBet Coin but later changed the name from CashBet Coin to Casino Betting Coin after being acquired by Greentube NOVOMATIC, one of the world’s largest gaming companies. Is this acquisition a complete takeover of the CashBet Coin or it is only a mutual partnership that is designed to promote business benefits between the two companies? How has this event helped to revolutionize the gaming scope of Casino Betting Coin? What market attractions have this brought to your platform and how has it increased the utility of $CBC as well as increased its usage or exposure?
A12:
Greentube Novomatic’s acquisition of CBC birthed Casino Betting Coin, which is a different brand and project from before the acquisition. The token remains the same and there has been no token swap (to, for example, maybe signify that it’s a different brand and projects) because Greentube respects the sanctity of decentralization so central to crypto.
Casino Betting Coin represents industry adoption of crypto.
From the time of the acquisition, Greentube has been busy integrating CBC into casinos and platforms in the Novomatic ecosystem, starting with GameTwist.com where CBC is already live for its millions of active users.
CBC will also be integrated into other casinos in the future, both from within the Novomatic ecosystem as well as others outside of that ecosystem.
CBC, as an open crypto utility token, allows for widespread use across different platforms and ecosystems.
Q13: How many new users did you get recently? Or, let’s say, did the CBC holder’s number increase after these changes?
A13:
We can’t share commercially sensitive data from GameTwist, but let’s just say we have enjoyed a large increase in interest and users for CBC. GameTwist attracts over one million active users per month, which gives you an idea of the scale.
Q14: I read that users can qualify for “redemption benefits” if they meet certain requirements and the gaming operator offers these benefits. Can you explain more specifically what are the redemption benefits and what do they entail? Are these benefits some kind of advantages for selected players? And what would be the requirements to be able to get redemption benefits?
A14:
We are building out a couple of fantastic loyalty programs with casino operators which will return considerable benefits to those who hold CBC. For now, those who choose to make purchases with CBC at GameTwist.com can qualify for bonuses of up to 750%.
Beyond that, we can’t yet give you the details of future loyalty programs and reward schemes, but we are working hard to ensure CBC users receive the very best bonuses.
Q15: Where can we read more about this program? Do you have some articles about it?
A15:
For details on the Gametwist promotion, please visit: https://www.gametwist.com/en/promotions/16/
We will be sharing details on future promotions in due course.
Q16: Are people able to buy CBC on GameTwist.com via bank card from any country? Or are there some restrictions? like, some country can't do that?
A16:
There are some restrictions imposed by our fiat on-ramp in adherence to internationally accepted legal standards, but most of the world qualifies.
Q17: Thanks! A lot of info Can we go to the 6th and last question from part 1?
A17:
Sure, just sharing our Telegram group link here again for people to join and check us out: https://t.me/casinobettingcoin
Q18: Most crypto projects publish a roadmap to identify priority development goals. I did not find your roadmap, so I want to ask if everything turned out as planned at the start of the project and what will happen next?
A18:
CBC is all about real adoption and being integrated into more and more casinos for use by more and more players. The utility is very direct and development is geared only onto that one focus. There is no building out experimental technology for untested use cases.
Having said that, our 3 priorities for 2021 are the following:
-
Proliferation of the use of CBC through the Novomatic ecosystem and beyond
-
Layer 2 solutions to improve gas fees and speed
-
Active thought leadership and awareness of our unique position within crypto & gaming
Q19: Do you already know which Layer 2 solution will use? We like secrets here, in Satoshi Club
A19:
We are looking at several scalability solutions and are keeping an eye out for options.
Part 2 — live questions from the Telegram community
Q1: Do you plan to collaborate with gaming platforms other than GameTwist?
A1:
Absolutely. We are in advanced discussions with a number of other casinos to integrate CBC. Gametwist.com is just the start!
Q2: Is the $ CBC supply limited? Do you have a mechanism that ensures inflation does not occur?
A2:
There are approximately 150M issued tokens (circulating) of a total of about 400M. The total is a hard cap and included as part of the token’s smart contract design.
Q3 How can I buy CBC tokens?
A3:
We are always looking to improve access and add more trading platforms. Currently, you can find CBC on:
Uniswap
https://info.uniswap.org/token/0x26db5439f651caf491a87d48799da81f191bdb6b,
Bittrex
USDT: https://bittrex.com/Market/Index?MarketName=USDT-CBC
BTC: https://global.bittrex.com/Market/Index?MarketName=BTC-CBC
ETH: https://global.bittrex.com/Market/Index?MarketName=ETH-CBC
HitBTC
USDT: https://hitbtc.com/CBC-to-USD
BTC: https://hitbtc.com/CBC-to-BTC
Q4 Currently, your token is on the erc20 network which has problems with gas causing high rates, so what plans do you have to solve this? Do you have plans to migrate to another Blockchain network?
A4:
Gas can be an issue at times. We are currently exploring a number of second-layer options which will increase the speed and efficiency at which we can transact CBC.
Q5: How do you like the satoshi community so far?
A5:
I’m having a blast chatting with the Satoshi Club community. It is great to see many of you joining us over in the Casino Betting Coin channel as well. I hope many of you take a closer look at CBC after this AMA, as I truly believe this coin is one of the highest potential, low-cap gems out there.
Q6: We know Greentube Novomatic is one of the leaders in the digital gaming industry, and with this acquisition it will expand into crypto. Will this also be followed by changes to the betting system at Greentube? We know that crypto betting now depends on blockchain technology. What significant changes are expected from this acquisition?
A6:
Greentube Novomatic is our biggest holder, and one of the biggest casino companies in the world, so we are excited to explore ways we can innovate in this sector. The gaming and gambling industry is moving quickly, and we are well placed to capitalize on this. More and more casino play is moving online, and we feel that CBC really does add something to this area.
Q7: Could you really explain to us fully what will be the role of CBC in IGamming games? Is it the only betting currency or is it the one that will give VIP access to more games?
A7:
We see more utility for CBC as a supporting token in the gaming industry, rather than a wagering currency. We won’t rule anything out, but we can bring real value for users when holding CBC qualifies them for big bonuses. We find that people generally prefer to wager cryptocurrencies such as Bitcoin, or standard fiat currencies. We want to ensure the whole experience is boosted for CBC holders.
Q8: What are the uses that CBC has on its platform and why would it be greater than BTC?
A8:
This question goes straight to the CBC token utility and economics, which should be explained in detail.
CBC is a crypto acquisition by Greentube Novomatic. Novomatic is one of the biggest (multi-billion dollar) casino companies in the world, so while other crypto are tokens waiting for users, that’s not a problem for CBC.
CBC is already being used on GameTwist.com, a leading social casino with more than a million monthly active users. It will also be integrated in more casinos in the future.
CBC tokens used in Novomatic-affiliated casinos go to Novomatic and don’t return back to the marketplace, effectively burning them. This decreases supply, while more adoption by more players in more casinos increases demand. This tokenomics is intended to increase the value of the token over time through actual utility.
As to why we think CBC is better than BTC for the casino crypto use case, I’ve written about that where I gave 15 reasons why: https://www.linkedin.com/pulse/why-cbc-better-than-bitcoin-btc-edward-w-brennan/?trackingId=0l1df4VW1daRqOZQJBOb2A%3D%3D
Q9: In a casino, the house always wins…So how can I be the house? How many CBC should I own to be a house? And how can I apply this word? “Own a Piece of the Action” Can you explain it a little further?
A9:
The house always wins in the long run. A quick walk down the strip in Las Vegas will show you that. By owning CBC, you get to have a stake within a project which is creating innovative new use cases across the casino industry. Holding CBC is the easiest way to become the house!
Q10: What is the minimum amount of CBC I need to purchase to play in GameTwist.?
A10:
You’ll be given some “chips” (Twists) to play for a while, and then you can buy CBC to continue playing.
To qualify for the 750% CBC bonus at GameTwist right now, you need to purchase a Twists package worth more than 24.99 euros.
Q11: How long do I have to lock my CBC tokens inside the system to get NFT or token rewards?
A11:
NFTs are a really interesting area. We think there may be some great applications of them into the gaming sector. It is certainly something on our radar.
Q12: What are the differences from other casino projects and what new techs are you bringing to defi world?
A12:
Unlike other crypto casino coins, CBC is backed by one of the world’s leading gambling companies and is already being used at one of the world’s biggest social casinos. We also have grand plans for future expansion that will bring even more utility to the CBC token. Most other platforms are struggling to find players, but that’s not a problem for us.
We see huge potential at the intersection of casino and DeFi. Most traditional casinos do not have a foot in the crypto world. That’s what makes Greentube Novomatic such a progressive partner. This is a huge, traditional casino giant which has understood how crypto is going to revolutionize our industry. We are working alongside them to make this revolution a reality.
Q13: Casino betting coin platform to shine and grow, needs to obtain the attention of the users, more players means more adoption/ profits, so can we know what is your plan to incentivize the use of your platform?
A13:
We have been building a strong community over the past few weeks, while also expanding our marketing efforts. As we go live with additional use cases, we will tap into the marketing machines of our partners to ensure CBC is put in front of a large, global audience.
Q14: Smart contracts are known to be susceptible to errors, bugs, or hacks. So how is the CBC security system composed? In addition, has an audit report been made by sources external to your project?
A14:
Yes, multiple audits were performed, Oyente Solgraph Mythril and Mainan tests were completed. Two audits were done by an outside auditing team including two prominent blockchain developers supported by co-founders of Ethereum and ConsenSys.
Q15: Are CBC use cases limited to betting games only, and are they not useful in other types of games?
A15:
Although our focus is on betting and casino, we don’t limit ourselves to this. We see some interesting opportunities across related sectors. Esports is one we are looking closely at, as well as the broader gaming ecosystem.
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