Have you heard of the vSlice ICO, the world’s first profit sharing token that just raised over $1,000,000 in just 90 minutes?!
What is vSlice and why are people so eager to buy tokens? The main reason is of course PROFIT. People are excited about an opportunity to make a potentially large profit from trading vSlice tokens, as well as earning a monthly profit share in vDice.
Let’s take a step back…to how this all started.
Bitcoin is huge for gambling. Around 50-60% of ALL bitcoin transactions are gambling, and soon Ethereum will also have lots of gambling transactions. With Ethereum it is possible to make gambling truly decentralized, and vastly improve on popular gambling websites such as Satoshi Dice.
Classic SatoshiDICE for Bitcoin was Bitcoin’s Most Successful Blockchain Gambling Game. SatoshiDICE processed Millions of Bets and Sold for Over US$ 70,000,000 in 2013!
Jump back to the present day, and you can get an idea of why a lot of crypto junkies are excited about vSlice tokens. A profit share in SatoshiDICE would have made a lot of people wealthy while it was running, and then again when it was sold.
Enter vDice onto the scene.
VDice launched a few months ago, it is a clone of the classic SatoshiDICE game implemented as an Ethereum Smart Contract (Dapp), making it the World’s 1st LIVE, Fully Decentralized Gambling Platform. This is big.
What makes vDice on the Ethereum blockchain game different?
With VDice there are no accounts or 3rd parties. Instead, you play directly from your own (local), personal,
Ethereum wallet and send funds directly to a Smart Contract, on the Ethereum blockchain. The Smart Contract processes the bet and returns the win directly to your wallet. You only have to trust the Smart Contract. This is public, verified code, that lives on the very public Ethereum blockchain.
- There are no accounts needed.
- There is no third party involved, just you, and the contract.
- There is no internal database guarded by some anonymous site owners.
- There is no trust involved. You always control your funds!
- Bets are provably fair.
- You can play from anywhere.
How can you profit from vDice and what how does vSlice work?
Right now, for a limited time only, you can join in the VDice Crowdsale (ICO) and buy profit sharing tokens for VDice known as vSlice, using Ethereum.
This is how vSlice tokens work:
There will be a total market cap of 96,000,000 vSlice tokens which will ONLY be distributed during the 4 week ICO phase, after which time, there will be no more.
The first way you can profit from the ICO is to Trade the vSlice token on exchanges for its trading value.
During the 4 week ICO, the ETH price of the VSlice tokens will be as follows:
- Week 1 = 1 (ETH) : 130 (vSlice)
- Week 2 = 1 (ETH) : 120 (vSlice)
- Weeks 3 & 4 = 1 (ETH) : 100 (vSlice)
Speculators believe that like many other ICO’s, the tokens will trade on exchanges at 100% +, immediately after ICO. This is usually the case as people don’t invest their money in something and then sell it for less than they paid at the first opportunity they get.
Once the ICO is over and the token is on leading exchanges, you will be able to profit from price increases of the token on the exchanges when you sell your tokens for more than you paid in the ICO.
The second way you can profit from the ICO is simply to hold the vSlice tokens you purchased during the ICO.
As a token holder, you automatically accumulate profits from all vDice games (in ETH), each month. You will also, enjoy any increases in price of the token itself on exchanges. The vDice game has an industry standard 1.9% house edge on games.
The way the profits are distributed is as follows:
There are 96,000,000 total tokens, and if a token holder owns 100,000 for example tokens, they have around 0.1% ownership. If during the current payment period (every 25 days) there was an exact vDice profit balance of 10,000 ETH, then the token holder will receive 0.1% of the profits, which is 10 ETH.
How much profit will vDice make?
As a vSlice token owner the more profit vDice makes, the more profit you make, and the more the vSlice token will be worth. Right now though, nobody knows with absolute certainty how well vDice will do, and how much profit it will make.
What people do know, is how much its bitcoin predecessor SatoshiDICE made, and by using some of their metrics, we can make a conservative guess at how profitable vDice might be.
Using the SatoshiDICE statistics from their website, the average daily profit was 4.8579878145 BTC or approximately 252 ETH.
The median daily profit of SatoshiDICE was 2.683937735 BTC or approximately 140 ETH.
Under current Smart Contract system for vSlice token, 50% of the house wins go to investors through the Token system (The other 50% goes to investors in the conventional system of investing in the Smart Contracts, as house, directly). So, for a vSlice investor Median Investor Profit (Daily) ≈ 70 ETH. This represents 50% of the median.
We are using the median because it is considered to be a more reliable measure.
Now, assuming bankroll is 150,000 ETH, an investment of 100 ETH will hold a 0.067% share. Which means that the investor is making on average 0.0469 ETH daily. So, in 1 year, the investor is making 16.884 which would be a 16.88% ROI for the year.
(The formula to calculate ETH profit is: ETH PROFIT = (INVESTMENT_SIZE / BANKROLL_SIZE) * 70 ETH.)
So the future of online gambling is already here with vDice. Fully decentralized gambling is now possible, and just like with bitcoin, it is predicted to be a large portion of ETH transactions.
Ethereum smart contracts make it possible to vastly improve on popular and gambling systems, which is why investors are jumping at the chance to be part of vDice. Investors know how profitable SatochiDICE was, and they want to profit from this new and improved version.