What is Truegame? it’s online gambling on the blockchain which includes lotteries and I gaming which is seems to be very popular these days. Gambling is worth 44 billion and they reckon it’s going to grow to 81 billion by 2022. So, gambling is a huge industry. Gambling is legal in over 80 countries; the big slice of the marketplace is actually Europe. I thought it would be more Asian Middle East but Europe makes up a huge chunk of people that are into online gaming. If we talk about the sources of revenue, we can say that sports betting makes about a huge part of this. Some of the key problems is that there’s no transparency about what jackpots pay now? is it correct? you can’t see them. Also, you can’t check if casino have funds to be able to pay you out. Obviously, they have systems that gets 3% of the total turnover. So, you know the house always wins but you can’t check if they have the funds or what they’re doing. It seems to be a lot of mistrust in gambling. this really comes back from I think early days where things like Vegas run by the Mafia but now you have the blockchain. Also, security issues as well, if something centralized it’s easy to hack, if it’s decentralized it makes it obviously a lot harder. So, what is the solution? Well these guys are trying to give integrity to the prize draws so you can go on the blockchain, you can check and make sure it’s not being tampered with because obviously that’s the whole premise of the blockchain. Also, to ensure that is fair and the winnings are distributed via the blockchain as well. Obviously, there’ll be paid out instantly, fully integrated platform to house all of the games the lotteries and everything under one roof.
What do they offer? they have different things like prize draws which seem to be seen more of these days, it wasn’t so big maybe four or five years ago but it’s time to see a lot of these come up. Lotteries have been around for years, everybody loves lottery and the one big thing is scratch cards, especially a lot of old people buy scratch cards, it’s a huge market and this may be a different way for people to access scratch cards because it’s online and digital. It’s measured on the blockchain but it saves me for going to the shop. Sports betting we know it’s the biggest area, there are a few out there doing it but again there’s not a huge amount in this area. World Cup coming up this year and that’s going to be absolutely huge those people will be betting on it. I think it’s over a billion is gamble just on the World Cup. So, benefits of holding the token you will get 10% of the residual income off the token. 75% will go back out as jackpots and prize pools, you’ll also have the token holders that will get 10% which is pretty decent and the 15% will go back to Truegame operating transaction expenses on the rest of it. They also have a token buyback policy where they will buy back the tokens and therefore reducing supply but also creating liquidity on their platform.
These guys have got some key indicators for project growth. I think the first thing is that they’re not raising massive amounts of cash, they have a product. When we compare them against their competitors, one of the things that funfair doesn’t pay is commissions but it’s more the fluidity of the token and also the fact that there’s some big backers with that project. But if we have a look down they don’t have the mobile app that’s something that they could bring out if we look across the board generally their competitors don’t have as many features as they do. In terms of their actual platform and roadmap there’s a whole bunch of new games come in so that’s where live platform already. A whole bunch of games are going to be release, there’s a lot of different integrations happening in slot releases then obviously going to integrate a lot of the popular cryptocurrencies. Litecoin, dash and others. by May they’ll be on the Apple Store as well. That was one of the key features they talked about that they had over the competition was this mobile application. By August they’ll have things like the poker rooms open which I’m looking forward to seeing that release. I’ve had a look through the advisors, there is a wealth of experience. You’ve got Mate from bitcoin.com. Andrew Clarke is very much been in the industry, very much the marketing side of things. These guys have a solid work history, their advisory board is incredibly strong.
These guys are based in Costa Rica, they seem like they’re all from Russia however they’ve registered to company in Costa Rica. There’s a couple of reasons for that, the first one is that you don’t need an online gambling license to operate in Costa Rica which is obviously a good start and also the taxes are incredibly low there as well. That was just something to point out because I don’t think everybody knows that information. One of the key things is they don’t expect operational income up until quarter four of 2018. There is a little bit of a way if you hold in the tokens and you’re hoping to get some residual income. Token symbol will be TGAME. It’s going to be on the ethereum network. They’ve also designed the platform so they can actually switch out to Cardano or whatever platform they want to as well. Total supply is 300 million, it’s fairly low and the ICO supply will be 210 million. They accept various payments ethereum, bitcoin and litecoin. Their soft cap is 2 million which they’re already raised and their hard cap is 9 million. So, they’re not after a massive amount of money and I liked to see that because a lot of projects recently go for 50 million, 25 million and they don’t really need it. They’re promising that they’re going to be listed on exchanges within two weeks which would be fantastic. Any unsold tokens will get burnt.
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Source: Website Presentation
Hello Everyone!
My name is Shebin John and I am an Ambassador to Midex Project.
As I spent a considerable amount of time in Telegram and other social media to catch up with my work and help the projects I support, I saw same questions being repeated each and every time in Midex’s Telegram Channel after the ICO has been finished.
So, I thought to create a Post which includes the most Frequently Asked Questions about Midex after the ICO has been finished.
Below are some of the FAQ’s about Midex. If your question was answered, feel free to give it a thumbs up! And if you have a new question, please comment, so that we may add that answer in here.
When will the Token be exchange listed?
Ans: Further details about the same will be officially announced soon. (This answer will be updated once we get an official announcement)When will the Token be available to withdraw to our ETH Address?
Ans: The token will be available to withdraw soon through your dashboard.Which exchanges it will be listed first?
Ans: Initially it will be listed in our own Midex Exchange, exact date will be announced soon. After that we will also try to list in other major exchanges. No names or dates until we get a confirmation from exchanges.How can we withdraw the Tokens from website?
Ans: Just Login to dashboard and click “Transfer”.
Or
Use this link, after you have logged in to your dashboard:
Once there, there is an option to enter your ETH Address to withdraw. More detail with step by step process will be announced soon.When will the Token burn going to happen?
Ans: An official announcement will be made soon, after which this answer will be updated.What was the total amount of Token’s sold in ICO?
Ans: A total 20,072,505 MDX token was sold in ICO.When will Midex exchange be ready to trade?
Ans: We expect it to be ready by end of this month. An official announcement will be made soon, after which this answer will be updated.When will the bounty distribution take place?
Ans: An official announcement will be made soon, after which this answer will be updated.
These are some of the frequently asked questions in the Group. This will be updated with more questions as time passes.
As said before, if your question is not answered here, please let us know in the comments.
was originally published in on Medium, where people are continuing the conversation by highlighting and responding to this story.
There is a tendency to move large mining centers in the Scandinavian countries. Sweden and Norway attract miners with affordable hydropower tariffs and low ambient temperatures, which reduces the cost of cooling equipment. Before that, crypto-generating capacities of European companies were located mainly in Iceland, where the cost of electricity is $0.08 per kW, which is not as attractive as in Sweden ($0.065) and Norway ($0.071). Scandinavian energy suppliers believe that they are ready to provide miners with the necessary electricity in full.
At the moment, a large company from Canada HIVE Blockchain Technologies, specializing in the extraction of Ethereum, has already placed its equipment in Sweden. Representatives of the company reported that plans for the current year to increase capacity, bringing consumption from the current 17,4 MW by autumn to 26,8 MW. In Norway, the us company Bitfury is already working, which announced plans to purchase 350 GW from the local generating company Helgeland Kraft. The Chinese manufacturer of mining equipment Bitmain, which recently opened a representative office in Switzerland, is also studying the possibility of placing capacities in Norway or Sweden.
