Crypto Ocean ๐ Secret Tokens of the Deep Sea No. 2 ๐ฎ
Dear Steemit friends,
out there are many lesser known projects with small caps (market capitalization). I wanna dive with my submarine to look for such possible treasures. Last time i looked at Flixxo.
Today's pick is Trueflip
CLICK IMAGE
Trueflip claims to be the first decentralized lottery which started with a Powerball lottery after the ICO. I follow them since inception and my first post about Trueflip is now 7 months ago and i can say they delivered what they promised until now.. but first let's look at coinmarketcap.com
Rank 542, market cap is still very low with about $7 million and a circulation of a bit over 6 million TFL token.
Trueflip shows the same weakness compared to Bitcoin like many other Alcoins currently. The 2-month chart is spreading at the end and surprisingly the price per token of $1.07 today is near the ICO price and was sometimes even at 50% of the ICO prize.. you could say now WHAT?!.. honestly it was a pain for many investors, including me and then we had a spike up to $5 for a short time like so many other coins. But let's look at the last days..
TFL took a bit off from Bitcoin but is currently sliding sideways but nothing to be concerned. The token is very small cap at the moment and was often a playball of whale trading. The chart looked often like a cardiograph on Etherdelta which is for many people one of the worst exchanges ever ๐ i can feel your pain! Ok, but recently TFL launched at Kucoin, the first win in terms of exchange listings. Now look a bit deeper, what's really behind Trueflip and is it worth investing?
Quick Overview
TrueFlip Intro - video by Trueflip
Simple but effective games
Above you see the both main games which you can play on the website. First was Flip's Star a typical Powerball where you can choose 5 numbers out of 1 to 49 and a special number. Meanwhile a second game called Rapid to the Moon was added which is also a numbers game but with different rules.
But like in the well known centralized lotteries the draw for Jackpot is once a day and you have to wait if you play the Flip's Star. Rapid to the Moon draw is between each 10-30 minutes which makes it much faster and is for another target group. More games are planned (s. below)
The user interface for playing is easy to use (tried it by myself, done in a minute) and if you have your account funded with Bitcoin you can pay instantly your filled tickets which makes it quite easy and fast to play.
The first truly honest Lottery
Before you say there are thousands of such lotteries on the web.. Trueflip is a bit different. We are on the Bitcoin blockchain which means nobody can influence the draw than the blockchain itself. It's completely automatic, transparent, immutable and fraudproof. You can check the draw generation at Github.. There are other benefits with the blockchain approach.. players get also instant payouts of the winnings. No central authority can hold back your funds because it's completely automatic and instant.
CLICK IMAGE
Big Jackpot
Trueflip's 1. Jackpot is currently near 405 BTC (started with 400 BTC) now multiplied with the current price of $10,151.30 results in $4,109,855. That's quite nice for the first ever Blockchain lottery isn't it? With each sold ticket the Jackpot is increasing and attracts more players.
Investor Lottery - Master Flip
If you think of gambling you're far from truth or in other words Trueflip created a game especially for TFL token holders which has a near 100% winning chance (also if you want, you can play with the odds of winning and price money) means the odds are in favor of the investors which works a bit like a dividend but is still a game. For each of 100 TFL you get one ticket for the lottery. Every quarter a year the investor lottery takes places and if you wanna participate you park your ERC20 tokens via smart contract in your account in a certain timeframe.
In the past lottery (December 2017) the Jackpot was 35 BTC (contained also the forked money from BCC and BTG from collected ICO funds) which were evenly distributed among investors depending on which stake you had in TFL tokens. That's similar to airdrops of tokens in other projects and is a nice idea to motivate investors to hold their tokens. Next investor lotter should be in march. Each TFL holder can participate with at least 100 TFL.
Future plans and goals
Trueflip's next challenges is to get the big gaming licenses like the Malta and Curacao license. Big benefit from that is the use of USD for example which should be attract much more people. They are near that goal in Q1/Q2.
Flipcast #Q4 2017 - video by Trueflip
They had just started intensive marketing for the lottery and plan to implement more games in 2018 like Pirate Bay (Feb/Mar). After that they plan to release 1-2 games every quarter which should attract more and more players.
A not so clear economic move is the implementation of a so called FLiPCOiN or TFL token which you can also just holding as investor. It reminds of the more complex system in Steemit with different currencies but don't know currently how it will work but you can check the Flipcast video above at min 3:25 Proof of Fairness
Conclusion
What i like
- working product with daily ticket sales
- quarterly investor lottery connected to revenue from ticket sales
- clear roadmap and track record
- upcoming gaming licenses
- upcoming attractive games for players
- already listed at Kucoin
- Telegram group with over 1,000 participants
- chinese localization of website
- active blog on Steemit
Where could be caveats?
- competitors like Funfair take market share
- possible denial of licenses
- regulatory interventions from SEC or similar authorities
- communication is sometimes a bit bumpy (but they improved a lot last months)
If Trueflip stick to the plan.. and until now they delivered like promised, sometimes bit slow but in the end there were always results they can build further on their competitive advantage. In my point of view since ICO they built already a solid foundation for the small gambling empire which can grow to a much bigger platform now. If tickets grow above 10,000 per day it would even more interesting for investors who hold a stake in Trueflip. I'll watch them and i'm excited for 2018.
What do you think about Trueflip, more than a gamble?
๐ If you like the read please follow me, vote me up and resteem! ๐ Thank you !๐
see also my other posts
Exciting times ahead steemit friends!
rendered animation by author
Please click my referral link to Steemfollower
Thank you!
| GREAT | APPS |
|---|---|
 |  |
| Hear Great Music on DSound by @prc | Watch Great Videos on DTube by @heimindanger |
 |  |
| Personal Stats with SteemWorld by @steemchiller | Great Charts with SteemWhales by @heimindanger |
Don't forget to vote for up to 30 witnesses to maintain the greatest social platform STEEMIT!
unmarked pictures/animation from giphy.com, pixabay.com
What caught my attention That when you Go To Coinmarketcap & Check Website 1 & 2 ..
You Will Find That Website 2 is a Profile in steemit :
https://steemit.com/@trueflip/
They Already Have account in steemit :)
& keep sharing news about there Project ^^
The negative thing is Marketing , They Have :
Twitter : 3800 followers
telegram : 666 followers
i Think They Need To make a Good Marketing ,
without good marketing you can't Delivering your idea to the world
Thank you @onetin84 for sharing this kind of coins
I didn't know about it until i read your Post
i hope you do more Post like this about some other coins
we don't know anything about it :)
Thank you, of course they are on Steemit, i forgot to link them! I read several time their State of Trueflip on Steemit.
The official chat on Telegram has 1,057 users. That's far less than the hyped projects of course but i think the get more and more traction with upcoming licenses, much more games, rising Jackpot. It's still very early for them and i'm quite happy now that they don't fall into the hype which creates just price spikes and bad reputation.
yeah the price can go easly more higher because of the total supply
& There already in Kucoin :) , most of hyped projects lose more than good projects in The crises
what do you mean to give the symbol of the Ka'bah ? in your post title ? @onetin84
this can hurt the hearts of the Muslims.
I didn't know the the meaning for Muslims.. it was just a chest for me to paint the picture of treasures. I changed that because i know what conflicts some people may have and i'm fine with the diamond. If you look herewhere i took the the icon from. But it's interesting to learn about cultures. Thank you!
this is the holiest place of Muslims all over the world.
I really appreciate you have changed the symbol to be a diamond ..
I understand maybe you do not really understand about this symbol .. but for a Muslim .. anyone who has insulted his religion he is willing to die because of it, this is what causes Muslims to become terrorists ..
I understand maybe you do not know about this symbol.
thanks @onetin84
I'm aware of different cultures and religions. I respect that also if i'm not Muslim. Thank you!
true flip had a success on steemit too they did lot of work :)
@onetin84, Excellent review about Trueflip ICO and well explained. I've never heard before but I checked it from coinmarketcap. Yep..It will be best in future I believe. I'll check it out. Nice you decided to share community. It's very useful to me.
I think there are many interesting projects out there which get almost no attention because of the hype in the Top 50 of coinmarketcap where everybody starts his journey in crypto space.. it is a distorted picture if you think of companies which are working now for many years and have build infrastructures and real world products and the next fresh hyped coin get a billion dollar valuation.. in the Top 50. If i see something valuable i will share it. Thank you!
Resteemed by @resteembot! Good Luck!
Curious? Read @resteembot's introduction post
Check out the great posts I already resteemed.
ResteemBot's Maker is Looking for Work.
Well I do not have very good luck with lotteries !Well pretty nice token as it seems buddy !
Looks really nice concept.
And the stocks price worth a risk due to its low price.
So since december the jackpot hasn t been given?
That's just a static number, you can see my winnings in the screenshot, it's my small share. They didn't updated the site after payouts. The Jackpot should be 0.
your post is so informative for me. Thanks for sharing.
Thank you, nice if it helped you.
Hope you many more posts from I'll follow all your posts.
the stocks value worth a hazard because of its low cost.
So since december the bonanza hasn t been given
that's just a static number, you see at the right side what i got with my share. Current tokenholder fund ist 8.25 BTC.
After reading your blog @onetin84 I think trueflip really is so underrated. Trueflip is have some great ajenda and really it is worth investing and specially for the long term...... Thanks a lot brother you surely provide best known...... Keep it up bro
That's just my opinion too because if they get more attention worldwide the ticket sales could be easy in 5 or even 6 figures which they expressed also in their whitepaper. But as you mentioned they have to go forward for a months and years to reach all goals.