Gambling token profile – Bitcoin Rush/Monster Byte (MBI)

Bitcoin Rush is the main customer-facing website while Monster Byte is the name of the parent company. We use Bitcoin Rush to refer to both.

Details

Product
Bitcoin casino and sportsbook.

Country
Panama.

Technology
Waves platform. This is the only ICO in this list that does not use the ethereum ERC20/ERC223 token protocol.

ICO dates
3 July 2017 – 4 August 2017

Amount raised
$1 million in bitcoin, dash, ether, litecoin and waves.

Token distribution
40 million Monster Byte tokens created.
25% sold to investors.
20% used to pay previous shareholders (details below).
55% retained by fund-raiser.

Market cap – ICO amount raised per token sold * total number of tokens
$4 million

Market cap – first listed Apr 2017
$1.3 million

Market cap – Feb 2019
$548,395

RIO since ICO (not including dividends)
Total: -86%
Per year: -73%

RIO since first listed (not including dividends)
Total: -58%
Per year: -43%

Links

Token use

Monster Byte token holders are promised a quarterly percentage of the sites’ profit, like a dividend. Monster Byte tokens are not used on the platform in any way.

Project summary

Bitcoin Rush has a long-established history in bitcoin gambling since 2013 (previously known as casinobitco.in). They also operate the bitcoin gambling sites Bit777 and Peerbet. All of their sites are low quality with poor user experience.

Bitcoin Rush, while known as casinobitco.in, first sold shares in itself via Havelock Investments.

Investors via Havelock investments have been promised a commensurate number of Monster Byte tokens.

Original and ICO investors appear to have lost money due to poor performance but do not appear to have been ripped off (unless profit has been under reported).

A working product, but not a good one

Often ICO have new and innovative ideas but fail to create a working product. Bitcoin Rush offer a different problem. They have created a working product but have no new and innovative ideas.

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