Photo by Cynthia Magana on Unsplash

The End of the Road

GambleCoin (GMCN)
Oct 1, 2019 · 3 min read

It is with great sadness that we draft this announcement. The time has come to cease continued development of the Gamblecoin platform.

It has been half a year since we took control of Gamblecoin, attempting to drag it from the point of failure, breathe new life and create something great. However as we evaluate our progress towards our short term goals, those goals communicated via our roadmap as well as private goals among the team, and knowing the long term plans, we have finally accepted that those long term visions are not obtainable.

The headwinds leftover from the previous Gamblecoin leadership are just too much to overcome. We have been unable to rekindle the excitement that Gamblecoin possessed during it’s initial hyping. The industry has changed, the market has changed, and those old community members have long since moved on.

We banded together with a grand vision, and no real way to raise capital without significantly more personal investment. As we evaluate the operational costs of keeping the coin progressing, the upcoming cost of development, licensing, and partnerships with both online and brick and mortar casinos; these costs become astronomical.

As we come to the close of Q3, and we evaluate our progress, we realize that not only have we fallen far behind our goals, but on a marketing and community standpoint; we have slipped backwards. Every positive sign in the market has been beaten back down by an impenetrable sell wall, one that we now realize will never lift enough for the project to be desirable by any outside investor.

With continued expenses, increased demands on our daytime careers, and the growing need to shift the remaining work-life balance to all work, no life… The time has come.

As the great Kenny Loggins sang; “You have to know when to hold ‘em…”. Well, Kenny, it’s come time to “Fold ‘em”.


Going forward:

  • We will keep the discord server running for the foreseeable future.
  • The Gamblecoin-info.com webserver will remain until the remaining time that has been paid already ends.
  • The gamblecoin-info.com and gamblecoin-casino.com domains will continue to be hosted in CaveSpectre’s DNS server, but the domain registrations will not be renewed.
  • The coin explorer server has corrupted and will not likely be rebuilt.
  • The team funds will remain untouched; currently just north of 401k coins; worth about $32 at time of writing this.
  • We will work towards integrating the current state of the gamblecoin codebase into the mainline github code, tag it, and put up a final release and attempt to keep the chain alive long enough to transition to the final codebase.

To note; we have used all our own funds to date, and have never drawn on the recovered remains of the original pre-mine coins. We have not taken any pay for our work. Those team funds remain, and are available should any legitimate team chose to step up and take the reins on Gamblecoin. We will be available to support a transition should there be anyone interested.

Short of that; we want to thank each and every one of our supporters and gamblecoin community members that helped us along the way, and believed in us as we attempted to make our collective vision a reality. Unfortunately the team is just too small to compete.

Peace,

  • CaveSpectre, MBush, & Bitk0ynr

GambleCoin (GMCN)

Written by

A cryptocurrency to provide in wallet gambling and a platform where you can place bets on casino games or sports games.

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