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

in #moonsteem5 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.

Sort:  

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.

ANNOUNCEMENT
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

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

DELEGATORS WHO STILL NEED TO REMOVE THEIR DELEGATION
You can use this SteemConnect link to do so.
@anteilboerse
@flyingbolt
@invisusmundi
@kgakakillerg
@kggymlife
@khaleelkazi
@miketr
@zelenicic

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 steem-roller.com 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 steem-roller.com 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

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