Coindirect. A game changer.


Looks like Coindirect will become one of a kind open source platform for online gambling where bitcoins will be sent directly from player to player eliminating the third party and solving such problems as high fees, transparency issues and deposit/withdrawal delays.

Cryptocurrency in gambling world.

The rise of cryptocurrency in online gambling world reduced the expenses of every online casino customer. In 2013 bitcoin revolutionized online gambling and solved many problems associated with this field of activity. It offered instant money transactions, low fees and anonymity. Since that time the part of bitcoin in online gambling was always growing and in the year 2016 the use of cryptocurrency in gambling was on it's highest point. Cryptocurrency became the choice for many online. However, it did not solve one of the oldest problems - transparency of the house and high fees. Up until today online casinos try to prove their transparency with a method called "Fairness Check", but often it does not work as casinos always have the power to hide crucial information from the player. In order to prevent this from happening all casinos need to undergo regular and thorough audits. This can take long time and leaves casinos dependent from the auditors and additional costs associated with this process increase gambling price.

One of the main reasons why all online casinos have deposit and withdrawal fees and extended withdrawal times is to do with FIAT currency. To move traditional currency from one account to another is expensive and takes time. It has to go through the third parties who take their share of each transaction just for transferring the money. In 2008 when bitcoin came to life it started changing many areas of our life and especially it changed the face of online payments. Bitcoin, with its instant, irreversible and low cost transactions became very attractive alternative to FIAT for many, including online gambling industry. Online gambling became accessible to wider circle of people as it became cheaper. As a result much more players could afford to gamble. At this point we think there is still one major issue which needs to be solved - decentralizing casino management of all deposits and withdrawals.

The idea


Today we want to take online gambling experience even further by moving casinos away from managing player's funds. The main idea is simple to understand on the example listed below:

Let us take a game of Texas Holdem poker:


  • The starting point would be that players do not need to make deposits at the first place - they just need to have bitcoins in their wallets.
  • Bitcoin balance is visible through a blockchain network and is impossible to alter so all other players can see it.
  • The blinds and the bets are monitored by Coindirect open source platform so players can bet only if they have enough funds - just like in a casino we used to.
  • When the game is finished and after evaluating hands respective coins from respective players go to the winner.
  • As soon as blockchain network nodes are able to acknowledge the transaction was successful players can start the next game.

At this point we want to highlight several advantages for the players:


  1. Complete transparency of the game.
  2. No risk of frozen funds by the casino.
  3. Instant transaction of the funds from/to players directly to their wallets.
  4. Very low fees.
  5. Complete absence of deposit/withdrawal process.

Sounds simple? It's not simple at all if you look deeper into technical part! And although we are passionate about the idea and eager to share all the tech information with the world at this point we are unable to do so - we don't want somebody to bring our ideas to life ahead of us.

Coindirect? Who are we?


Coindirect is a bunch of creative professionals dedicated to changing the face of online gambling once and for all. At this time we are running the crowdfunding campaign in order to raise funds to make our ideas come true. At Coindirect we believe that having the best product is the key to success. Our team is planning to revolutionize online gambling by providing full transparency and reducing the cost of gambling. That will be achieved by eliminating the third party from the scene.

Nico Ami Lee

Blockchain developer, founder of Coindirect. Nico loves to apply innovation to business, technology and social challenges. When he is not working on new develpments Nico likes to travel around the globe and bring new ideas to the office.

Viktor Bekturganov

Cryptocurrency investor, speaker, blockchain analyst and a valuable adviser on cryptocurrency investments. Viktor was born in Kazakhstan and after achieving his economics degree moved to Moscow and later to Berlin. In Berlin he started trading Bitcoin and became a known member of community.

Samuel Haidifi

Professional poker player and bitcoin enhusiast. At this time Samuel sees bitcoin technology as a powerful tool in changing the face of online gaming. Samuel's competence which are needed for the project are probability math and gambling theory.

Ronan Saeyong

IT security specialist with a computer science degree. Ronan has more than 10 years of experience in network engineering and network security and was working for different international companies. He sees blockchain technology as a powerful tool in increasing transparency in governmental operations as well as business processes.

... and a bunch of other guys who were too shy to write a sentence or two about themselves.

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What we plan?

First things first. We plan to raise money with help of our crowdfunding campaign for the development of the open source platform for online gambling. After successful crowdfunding campaign is over we will concentrate on product development and deployment of the new platform to online gambling taking their market share. We estimate that the development process, legal procedures and other business operations could take up to 6-7 months. After all development works, licensing and preparations are made Coindirect will start aggressive mass scale marketing of the platform in order to attract people from traditional online casinos. We believe that advantages of our platform will be very attractive to online gambling society. Such advantages include:

  • Complete transparency
  • Very low gambling fees
  • Full control of funds
  • Instant transactions
  • Direct money transfers from player to player

We want to see our platform up and running online in January 2018


Crowdfunding campaign


The crowdfunding campaign will be organized around the shares distributed between all who are willing to take part in the life of the project. Participants willing to support Coindirect transparent online casino layer can do so by sending bitcoins to the designated address. As we are trying to collect funds for the upcoming project all investors have to understand the fact that funds will be kept in Coindirect account until the crowdfunding campaign is over. After the crowdfunding campaign is finished we want to start fulfilling our plans and continue to work hard on the project. However, before we start we want to give the opportunity for those investors who changed their mind and are willing to receive their investments back. Starting 1 of September 2017 and ending 5 of September 2017 Coindirect will issue all the chargebacks (if any) to their respective shareholders. It is important to understand, that if Coindirect will fail to sell 60% of all shares it will be impossible to start the work on a project. In case this happens, Coindirect will return all the funds to investors. Although we try to foresee every possible outcome, even a failure, we deeply believe in success.

All the gathered bitcoins will be converted into USD immediately after deposit using the Bitcoin Average exchange rate. This is done in order to secure the funds from bitcoin fluctuations. Despite bitcoin price is constantly growing we do not want to gamble with our investor's funds and therefore everything will be kept in USD since it is less prone to unpredicted fluctuations.


Crowdfunding campaign summary:
  • Total amount of shares: 6500
  • Price for one share: 100 USD
  • Maximum goal of sold shares: 6500
  • Minimum goal of sold shares: 3900
  • Date of crowdfunding campaign start: 1 of April 2017 00:00 GMT
  • Date of crowdfunding campaign end: 31 of August 2017 00:00 GMT

Usage of Crowdfunding campaign funds:
  • Operations: 54% Development, project management and salaries.
  • Legal: 10% Registration costs, lawyers which deal with cryptocurrency cases.
  • Marketing: 27% Expenses attracting new customers from traditional online casinos.
  • Online traffic: 4% Online traffic generation expenses.
  • Unpredicted expenses: 5% Safety margin funds.

All the shares are digital assets bearing value by themselves based on their underlying assets, properties and/or the associated rights. Coindirect shares represent ownership rights to dividends of Coindirect online casino platform. Bitcoin based shares rely on a well based blockchain infrastructure and benefiting from several advantages like security and predictability, high liquidity and complete transparency.

Profits

Fast and easy way to help our project and make a quick buck for yourself is to help us attract more people to the project. As we want things to happen as quickly as possible we will add 10% from every investment made by people you have attracted to your account balance in order to keep you motivated. These funds can be invested or withdrawn immediately. All you need to do is to make sure everybody is using the ref. link which will be provided to you.

Once the platform goes online there will be a great chance to secure a stable monthly income. Every bitcoin transaction between players will include 0.5% fee which will be automatically transferred to Coindirect account. These bitcoins will be divided in to 2 parts - 65% and 35%. We plan to use 60% for further development, maintenance and marketing, 5% will go as management fees. 35% part will be shared every month between all the shareholders according to the amount of shares they own.

The global online gambling market was worth around $45 billion in 2016 and market research analysts at Technavio expect the global online gambling market to grow at a CAGR of more than 9% by 2020. With growing popularity of blockchain technology in online gambling it is just a matter of time when the majority of online casinos will switch to bitcoin. It appears that bitcoin is becoming more and more popular form of payment in online gaming already.

Let us do the maths and calculate the possible profit from 1 Coindirect share for 100% of the global online gambling market with 2016 data:

45 B$ * 0.005 = 225 000 000$
225 000 000$ * 0.35 = 78 750 000$
78 750 000$ / 6500 = 12 115$ per year

We can see that 1 Coindirect share which is now worth 100$ (80$ during the first weeks) could potentially generate almost 12 115$ per year. That would be the case if the whole online gambling market would use Coindirect platform. Unfortunately it is not our case yet.

We expect to take:
5% of the market by the end of 2018
8% by the end of 2019
12% by the end of 2020
18% by the end of 2021
21% of the market by the end of 2022

Let us convert these numbers into US Dollars:
By the end of 2018 1 share could bring 606$ per year
By the end of 2019 1 share could bring 969$ per year
By the end of 2020 1 share could bring 1454$ per year
By the end of 2021 1 share could bring 2181$ per year
By the end of 2022 1 share could bring 2544$ per year

* Estimate is made using 2016 data.

For those who will be willing to leave Coindirect in the future there will be a possibility to sell their shares directly to Coindirect or to the third party.






We think it is crucial to share the progress with everybody taking part in the project and as a result of this every person connected to Coindirect will receive regular weekly updates and important milestone updates as well. At Coindirect we want to make all the information about the project as accessible as possible so make sure you enter your contact information responsibly.