moonSTEEM is stopping its activities - NO EXIT-SCAM - PROPER CLOSING

in #moonsteem3 years ago

In the light of recent events (Magic-Dice exit-scam), the owners of moonSTEEM decided to stop the platform for a few reasons :

  1. We can see with Magic-Dice that a lot of people really thought that playing on a gambling site would give them profit for life. That's just unrealistic and why we chose a burning token system, an untradeable token and made it clear that the tokens were only a way to distribute profits if there were profits to distribute. But even in that situation, some people still think that their losses will be covered partly or fully by future dividends they'll get from token holding.
  2. That dividends model isn't sustainable (can't finish in any way except an exit-scam), but it's the trending model on all gambling apps currently. Looking at Steem, there's not a lot of users and even less "real gamblers". We thought about removing all "investability-related" features from our game (investing and token holding) but realized that in that case there would be no more players (as there are better games out there, and competition is hard with sites better established). Taking also in fact that MD with their exit-scam pretty much killed all gambling here on Steem for some time, at least in our opinion.
  3. People want more transparency, they want owners to reveal identity when all operators are currently in a grey legal area. Revealing identities would mean a lot of potential risks from governments / States and the potential profit to be made is just not worth those risks. So going official (creating a company and so on) is not an option either.

How will the closing work:

  1. After this announcement, the games will be stopped.
  2. Website will stay online, if people want to withdraw, etc...
  3. In the next day or two, as we did with the V1 closing, every positive balance on the website (either it's Playing, Investment or Dividends) will be automatically transfered to its owner (rounded to the superior Steemie = 0.001 STEEM).
  4. We will comment on this post when we stop the withdrawal feature to proceed to the "closing" transfers. After that, please be patient, it can take a few hours (up to 48) to make all the transfers.

Particular situations:

  • Investors : We will cover the current losses at the time we stop the games. As most of you will withdraw before the "closing" transfers, the system is made so you will take the losses when withdrawing. We will correct that when doing the "closing" transfers. Only losses taken post-announcement will be covered. If you wait for the closing transfers, you will get directly the amount on your Investment Balance, no matter what the current losses attached to it are.
  • Token Holders : We will use the dividends earned by the owners' initial investment (342 STEEM) and the fees taken on tips (14 STEEM) to make a "closing buy-back" of Tokens. You will get part of that amount depending on the amount of tokens you own compared to total tokens emitted.
  • Delegators : Please remove your delegation to moonSTEEM through this link

It was a great experience and thanks a lot for your support. This was just a side-project as both owners have jobs / activities, but with the MD situation, we now realize that the potential downsides, pressure, stress generated by this activity is not worth the little profits we get from it.


was a nice game

You're a waste of space. You've been flagged like the trash you are.

Gotta respect the honesty and integrity of you guys. Thanks for being a role model and also honorable business people.

You're a waste of space. You've been flagged like the trash you are.

Closing Transfers will now begin.
Withdrawals through the website have been stopped.
No estimate on how long it's gonna take, it can take anytime between 1 hour (if everything goes well) to a lot more if there are problems.

How will we proceed

  • Database will be left untouched so that you can come on the website and verify the amounts we sent to you via the Closing Transfer.
  • To verify the buy-back amount, please multiply the percentage of tokens you own (visible on the Account -> Tokens page) by 357.592 STEEM (the total amount dedicated to the buy-back)

Once the closing transfers are all done, we will announce it here. After that, we'll leave the website up for 48 hours so that everyone has time to verify what was sent to them. After this delay, the website will be definitely taken down.

Boosted for visibility

I have not been online much lately, but a minute ago i wanted to login to my favorite gambling game (yes you guys) and i got a sever error message. So i checked steem to find this message. To bad that you are stopping, but many kudos and respect for you and the moonsteem team for how you handled this closing in a proper way. This is something that many people can learn from (you know who you are) but because of your integrity i just found my lil investment and all of my funds back into my wallet. .... thanks

Please verify the amount transferred to you is correct (it should be). If not, please comment here, on on Discord

You can use this SteemConnect link to do so.

Thanks for your patience, and for all your kind comments !

I'm sad to see you guys go but impressed about how you've dealt with this matter.

Have you any ideas on what you're going to do with your script? I'd be interested in a copy of it to perhaps offer a continuation of your services through my own servers.

You guys rock and I'm glad to see this being handled in the most professional manner possible.

Best of luck to you in the future. :)

(If anyone is looking for a new place to play and invest check out beta. )

(Please don't view this as disrespect shilling of my site, goal is to offer a new safe place for your patrons to play and invest <3)

Hey @moonsteem its really sad to see you guys go :( But thanks for keeping it honest!

Just received my payout and its correct. Good luck to you guys in furure projects.

Bummer, it was fun, but I respect your doing this properly.

Posted using Partiko Android

All things have to close their doors some day. Look at iTunes. But like everyone else is saying, you guys did it in a great way.

Thanks! Moonsteem has really set the example since the start on how it all should be done. I loved the game and how the entire system was set up and hope more will take an example of this. Sad to see it's over, but also very understandable. Best of Luck !

Was fun experiment. Respect for brave, clear decision!

Shame to see you go, but thanks for keeping us informed and not exit scamming!

Posted using Partiko Android

Really sad :-(

Hey folk. Sorry to hear Moonsteem is shutting down.. :/

If you're looking for a new place to play and invest you're welcome to come check out and it's open beta. The site is still in beta but it is operational. It's a 1% house edge dice game with investing offering leverage up to 100x and betting odds payouts as high as x990000

Hope to see you there! (That includes you msowner1)

Talk to you all later!

theres a new moon in the sky

Hey guys, Much respect for you for shutting down the way you are.

Congratulations @moonsteem! You received a personal award!

Happy Birthday! - You are on the Steem blockchain for 1 year!

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Vote for @Steemitboard as a witness to get one more award and increased upvotes!

You guys have been thoroughly professional, cheers.

thanks for the fun. cheers.

Posted using Partiko Android

At least you were honorable. I even asked MGD why they didn't open an SE token and they said they were waiting for real value via SMTs.

We have an SE token as well, but this is clear evidence for why Ethereum-based tokens really can't be beat. Irrevocable smart contracts on the #2 blockchain in the world means that when you get a token you truly have it. This is one of the reasons we have not been all that into using soft-consensus over Ethereum's erc20 option.

So awesome Dapp and trustworthy

Posted using Partiko Android

was fun to lose some steem with your game :)

I didn't play. But good to see that there are some honest people around!
Good luck for your future projects.

Posted using Partiko Android

Thank you for the update.
I had a great time due to the super addicting nature of the game.(even though I came out with a loss.)
I hope you prosper in your next endeavor.

Good work that makes you reliable

Thanks for being so honest, this is a real example of how you should communicate and handle these things. I don't know who is behind this game, but you can be proud of what you did here. And you are right, after the scam, I became scared as well, although I left my investment on your site. Thanks again for being so fair.
All the best in your other endeavours.

Congratulations @moonsteem! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :

You received more than 20000 upvotes. Your next target is to reach 25000 upvotes.

You can view your badges on your Steem Board and compare to others on the Steem Ranking
If you no longer want to receive notifications, reply to this comment with the word STOP

Vote for @Steemitboard as a witness to get one more award and increased upvotes!

Mad respect, there are still some good people in this world. If you have any future projects count me in!

Glad to see youre being cool too abd youre shutting down.

Posted using Partiko Android

That is the best move when stopping activities. Thank u for the tokens and till next time again. Thanks to @otom who introduced this to me before.

Posted using Partiko Android

been enjoying your game months ago, to be honest and yes,I did remove my tiny delegation because I thought this might be the next magic dice my apologies. but your going out of steemit makes people sad.

Really sad to see you close down
Same as from many others here - respect for how you ran the project hope you might return one day

I really like moonsteem game. Really sad. Good luck guys in furure projects.

Thank you for the fun, and thank you for keeping things honest! Best wishes for the future!

Thanks for closing it professionally, would upvote your faucet more if you still had posts :p

flagged for being connected to @ngc through @moonsteem! lol
tell your mutual friend @ngc to take his bid bot @iflagtrash off me, I'm going after everyone he ever talked to! lol

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