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CryptoPennyCO

40 Billion Supply?

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They're going after a pretty large market in terms of users.  With that being said, keep in mind that CSC is actually played with by the user.  One user could potentially win 1 million CSC on a single "pull" playing an online slot machine. So the website themselves are going to have to keep a pretty large supply for potential winners.

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23 minutes ago, CryptoPennyCO said:

Hey guys, the 40 billion supply is monstrous. Would love to hear your thoughts on why we shouldn't be concerned about that. Thanks. :classic_smile:

In fact I had the opposite concern! 40 billion may be too little, if (when) CSC becomes a standard. :classic_biggrin:

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10 minutes ago, Fidgetspinner said:

In fact I had the opposite concern! 40 billion may be too little, if (when) CSC becomes a standard. :classic_biggrin:

I think once it becomes the standard it'll be fine, when chips are in the $.50-$1 value range (which I think is reasonable years down the road).  It's actually leading up to that point that I'm concerned about.  Wealthy individuals play $10 slot pulls all the time.  In this case, that's currently around a 25k CSC bet.  If someone were to win the jackpot, or even "big", you're talking about tens of millions of CSC in winnings.  I had a friend win $13k on a slot machine.  That's 32M CSC at current prices :classic_blink:

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Guest BlackJack
16 minutes ago, RonSwanson said:

I think once it becomes the standard it'll be fine, when chips are in the $.50-$1 value range (which I think is reasonable years down the road).  It's actually leading up to that point that I'm concerned about.  Wealthy individuals play $10 slot pulls all the time.  In this case, that's currently around a 25k CSC bet.  If someone were to win the jackpot, or even "big", you're talking about tens of millions of CSC in winnings.  I had a friend win $13k on a slot machine.  That's 32M CSC at current prices :classic_blink:

Yea the price will need to increase  to work on a large scale. 

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15 minutes ago, RonSwanson said:

I think once it becomes the standard it'll be fine, when chips are in the $.50-$1 value range (which I think is reasonable years down the road).  It's actually leading up to that point that I'm concerned about.  Wealthy individuals play $10 slot pulls all the time.  In this case, that's currently around a 25k CSC bet.  If someone were to win the jackpot, or even "big", you're talking about tens of millions of CSC in winnings.  I had a friend win $13k on a slot machine.  That's 32M CSC at current prices :classic_blink:

This is where my hope comes in. It should be in the interest of casinos that the price moves up towards the stable ($1) level soon after they have loaded up. 1) to maximize profits and 2) to simply allow players to use CSC as a 1:1 substitute for Fiat with single point KYC/AML.

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58 minutes ago, CryptoPennyCO said:

Hey guys, the 40 billion supply is monstrous. Would love to hear your thoughts on why we shouldn't be concerned about that. Thanks. :classic_smile:

welcome to the forum! like others have mentioned, the price will be driven up from the demand increasing as more players use it and more operators accept it and stock pile it. and regardless in the short term a high supply doesn't matter, and has been proven time and time again that if there is some buzz and hype around a coin the price can go parabolic even with a high supply.. trx, dbc, xrp.. etc

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The foundation is working on several identification and payment solutions for the landbased casinos.

 

US landbased (from what I’ve read) has to have on hand at least the amount of everything wagered

1 to 1 ratio

Casino must keep in reserve, not only every chip in play on the floor, but the total amount advertised on all slot machines and all the payments that the casino owes to previous winners."   

- Take from Discord Chat.

This is why 40 billion may not be enough let alone too much.

@DjemDiamond Credit.

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so wouldn't the price per coin to be $1 or more be in the best interest of the online casinos?

Edited by mycryptodream
strikethrough my post because of Fidgetspinner's comment above.

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Guest BlackJack
36 minutes ago, Lancsgent said:

The foundation is working on several identification and payment solutions for the landbased casinos.

 

US landbased (from what I’ve read) has to have on hand at least the amount of everything wagered

1 to 1 ratio

Casino must keep in reserve, not only every chip in play on the floor, but the total amount advertised on all slot machines and all the payments that the casino owes to previous winners."   

- Take from Discord Chat.

@honeybyte Credit.

 

Quote

This is why 40 billion may not be enough let alone too much.

 

Just fix it for you. 👍

It was take from Discord, I believe it was honeybyte that said it, within a conversation with @oso

Edited by BlackJack

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1 hour ago, Fidgetspinner said:

This is where my hope comes in. It should be in the interest of casinos that the price moves up towards the stable ($1) level soon after they have loaded up. 1) to maximize profits and 2) to simply allow players to use CSC as a 1:1 substitute for Fiat with single point KYC/AML.

Only to the extent of significant payouts on a pay to play basis.  If its a gaming site where users are matched against each other (Texas Hold Em, etc.), the only thing at risk is the stack the gamers bring to the table.  The website won't need to stockpile anything, because they're just providing the medium in which players gamble. So to that extent, they don't really care what the value of the token itself is. That's how I see it anyway...

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49 minutes ago, Lancsgent said:

Casino must keep in reserve, not only every chip in play on the floor, but the total amount advertised on all slot machines and all the payments that the casino owes to previous winners."   

- Take from Discord Chat.

I learned this from Ocean's 11 lol

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6 hours ago, 50centCSC said:

welcome to the forum! like others have mentioned, the price will be driven up from the demand increasing as more players use it and more operators accept it and stock pile it. and regardless in the short term a high supply doesn't matter, and has been proven time and time again that if there is some buzz and hype around a coin the price can go parabolic even with a high supply.. trx, dbc, xrp.. etc

Exactly this.  XLM is another one.  Over a 104 Bill and broke $1 on hype alone.  I don't know of any team in crypto that's as anti-hype as CSC.  They have confidence in their tech, their product/use case and their ability to deliver.  

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4 minutes ago, Alcar said:

Exactly this.  XLM is another one.  Over a 104 Bill and broke $1 on hype alone.  I don't know of any team in crypto that's as anti-hype as CSC.  They have confidence in their tech, their product/use case and their ability to deliver.  

I believe once their product is out and they have a few on board.. they will ramp up their marketing efforts and it will be popping bottles time

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3 minutes ago, 50centCSC said:

I believe once their product is out and they have a few on board.. they will ramp up their marketing efforts and it will be popping bottles time

50centCSC is in fact my price for freedom.

Lets see if we can can get there in the next 12 months...

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1 hour ago, Lancsgent said:

50centCSC is in fact my price for freedom.

Lets see if we can can get there in the next 12 months...

cheers to 50 cents!! i have a feeling things are gonna start heating up a bit in the next few months 

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7 hours ago, Alcar said:

I don't know of any team in crypto that's as anti-hype as CSC

So true. This is the perfect approach, especially when working with regulators. Even the presentation is no hype, just crystal clear facts.

I'm sure everyone has seen their presentation, but here's the link anyway:
https://casinocoin.org/doc/CasinoCoin_Presentation_en.pdf

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I think what has been said before already answers the question. So let mne just sum it up: 40bln reflects the estimated the thruput of the industry. Keep in mind there will be bankrolls, long-term bets with escrows, up to 1k CRNs holding 1mln each etc. 40bn is a reasonable supply.

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2 hours ago, Daniel Keller said:

"Perhaps more interestingly, by 2022, the report revealed that online gambling bets could top as much as $1 trillion, with the number of online gamblers rising by around 100% to 684 million. This is a reflection of new markets coming on stream, as well as improved market penetration from established operators across their core markets." Love this data! Thanks for the share, Daniel. :clapping:

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Guest BlackJack

It's connected to market size. 

If CSC had 21,000,000 like BTC. 

Look how mad the price swings its stupid. Good for trading but nothing else.

The more coins the less volatile. 

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