In general we have to say that most ICO (Initial Coin Offerings) are scams and users should stay away from them. Most ICO's are just get rick quick schemes that will never produce a product. We're not saying this new FunFair casino ICO is any different but we are intrigued because Jez San, the founder of PKR, is behind the new venture. For those who don't know, PKR was a popular 3D online poker room about 5 to 10 years ago in the beginning of the online poker boom. The site ran into financial problems in recent times and recently shut it doors completely. Jez San's new FunFair Ethereum casino claims to be the "fastest Ethereum blockchain casino". In their press release they also claim the the games are fully auditable, provably fair, boast 3D graphics, have low fees and are easy to setup. There is a working sample on the FunFair.io website but we weren't able to play it because it required a plugin for Chrome that we didn't have. Our biggest reservation about this new Ethereum casino ICO is that they claim it runs completely off the Ethereum blockchain without the need for central servers. Anybody that has tried to use Ethereum over the past few weeks will know that it barely works due to the influx of ICO transactions. As a result, many exchanges have suspended Ethereum deposits and withdrawals. The size of the Ethereum blockchain has swelled by 5 gigabytes over the past couple of weeks alone so many fear that it simply can't scale at this rate. While the FunFair demo may work fine on the Ethereum the test net, we cannot see how it could possibly work on the main net give how many problems Ethereum has.
These ICO's are getting out of hand. I had an Uber driver last week ask me if I could help him with an ICO.
i feel sorry for this Jez San guy if he lost his company and all of this money but that doesn't excuse someone from fooling gullible investors.
I agree that most ICO's are scams but this tweet from Ben Davenport, who I admire, made me think we should give FunFair the benefit of the doubt...
Yesterday the Edgeless.io casino ICO funds were hacked to the tune of $5 million so I hope FunFair are storing their Ethereum on a hardware wallet and not parity.
Running casino softare from a blockchain makes no sense. People who want to "DECENTRALISE ALL THINGS" are idiots.
I have to agree with you here. Running casino games from a central has worked fine for the past twenty years so why move it to a blockchain. As long as gamblers can deposit and withdraw using bitcoin, bcash, ethereum or whatever crypto, who cares about decentralising the games.
the guy lost his life savings and life's work following the closure so i wish him well but i really don't think an ico is the way to go. if you have a great idea then you should be able to find backers.