Q&A Session with CoinPoker’s Head of Poker Operations (Part 2)

Q&A Session with CoinPoker’s Head of Poker Operations (Part 2)

After publishing the answers to your product-related CoinPoker questions last week, we will continue the Q&A session in this second set of answers. Paulius Mikaliunas, our Head of Poker Operations, will continue where he left off in Part 1, which you can have a look at here if you haven’t already.

Part 2 of the Q&A session will focus on the business side of things. Namely, the rewards programs that are in the works and current cryptofinance environment.

#1 Cryptocurrency Market Fluctuations

Concerns and questions rose regarding the ETH price drop, which has had a negative overall impact on the crypto market. The slump seen earlier this year continues on as the summer progresses, and while many hodlers and investors are ill at ease it is a natural, albeit extreme, part of the volatile world of cryptocurrency markets.

Note that around this time last year, ETH price experienced a similarly extreme drop albeit for different reasons. The market bounced back with a vengeance as the winter months approached, and in light of the popularity of ETH as the go-to platform for blockchain startups we are optimistic about the long term future of its market value.

Startups are likely not done cashing out on Ether, but longer term, continued demand to build and hold ICOs on the platform should cause the coin to rebound. Ethereum remains the most popular platform for startups to build blockchain-based applications, as it’s used by more than 90 percent of projects.”

Biswa Das, Fund Manager of BloomWater Capital

The harsh reality of the cryptosphere is that despite so many startups and ICOs popping up, close to 95% of them will fail (or already have) by the end of the year. Nevertheless, our team remains focused on the factors we can control and improve to combat this market-wide setback and steadily work towards our long-term vision.

#2 Rewards for Referrals and Affiliates

One of our top priorities right now is finalizing our affiliate back-end and dashboard. The affiliate program will offer progressive revenue share, and comes with a dashboard that allows affiliates to track income and spend from referrals, as well as access to media resources for CoinPoker promotions.

Our development team is perfecting and testing the backend interface, and from a software standpoint the service is just about ready to release. However, what remains to be determined and worked out is the best possible way to finance rewards as our team is still in the process of perfecting a method for revenue generation.

Because this is a delicate matter, and must reflect both our need for growth and the demand for cost-effective gameplay, we feel that this is a crucial decision that needs to be as faultless as possible before releasing to the public. We are excited to launch this as soon as possible, and thank you for your patience (we know many media partners and fans are eager to collect their rewards).

#3 Future Markets and Expansion

Alongside decisions related to internal revenue structures and games, we are in the process of exploring important markets with appropriate regulatory and legal environments. Because of the sensitive nature of online gaming and cryptocurrency payments, this is something that takes time and patience from both our community and team.

In addition to translating into bigger promotions, including satellites to renowned poker events and tours, we are also working towards making CHP a payment option on other gaming platforms and establishments. We feel that these projects will have a very positive impact on CHP value if conducted appropriately, which is why we are taking great care to explore the best possible opportunities and markets for growth.

#4 Roadmap Delays

One point that concerns community members is our current schedule of activities compared to the roadmap published in our whitepaper. While our team is doing their best to adhere to initial expectations, please bear in mind that these exact dates are intended as rough guidelines rather than strict deadlines.

Certain projects such as our decentralized RNG and affiliate programs are not stand-alone activities; meaning that in order to be done successfully many other factors need to be taken into consideration. While we continue to do our best to minimize these delays, and to keep our community informed about what’s in the works, giving exact timelines is not something we can do with 100% accuracy.

As we continue to strive towards our goals, we ask for your continued support and patience, and to trust that we are focusing on a quality end-product rather than rushed and premature outcomes.

#5 ETH to CHP Feature

The ETH to CHP feature was introduced a few months ago in the hopes of offering players an alternative method to depositing CHP directly. The key objective was to make payments more convenient, while also staying to true to our brand as a crypto poker platform.

That being said, we will not be introducing non-crypto financing options for player accounts. Moreover, the exact formula for this exchange service will not be disclosed to the public. Please note that the yield of CHP is marginally lower than market value, which can be regarded as a fee for the risk and work our team undergoes to make ETH deposits possible.

Our exchange rate can easily be viewed in-app by entering the amount of ETH you want to deposit, and players who prefer not to use this service are more than welcome to purchase and deposit CHP directly.

A Big Thank You to Our Community

Thank you all for your questions and interest in CoinPoker projects. We understand the frustration from players as some ambitious deadlines for unreleased projects passed during the summer, and we want to assure you that we are fully committed for long-term growth and will be executing all plans to the best of our abilities very soon.

We appreciate the ongoing support, as well as the constructive criticism received from both new and longtime players. We hope to bring more big news in the coming weeks as we continue to strive towards our long-term goals.

14 thoughts on “Q&A Session with CoinPoker’s Head of Poker Operations (Part 2)

  1. “Moreover, the exact formula for this exchange service [ETH to CHP Feature] will not be disclosed to the public.”

    I’ll never use this service (for obvious reasons!) but still want you to succeed, so here’s my advice: if you really want to be seen as a legit business don’t use these shady tactics. It sends out the wrong message.

    1. Hi Jay,

      We appreciate the feedback and are working on a way to make the ETH to CHP feature conditions more transparent for our users. Again, thanks for the input and interest 🙂

  2. Я с надеждой долгое время наблюдаю за развитием CoinPoker!
    Ваш проект по моему, при такой политике и слабой командой. не сможет конкурировать с другими. Для всеобщего признания и любви игроков к CoinPoker Вам необходимо создать индивидуальную фишку в политике привлечения новых игроков. Люди в мире покера должны знать, что только у Вас реальный децентрализованный ГСЧ и спутники(ОТБОР) на знаменитые покерные мероприятия и туры на круизных короблях по морям и разным странам! Постоянно(хотябы 1 раз в неделю) надо проводить FREEROLLS на тур! Игроки к Вам с большим желанием в любое время вернутся!!!

    1. Полностью согласен.Так делают все значительные(в мире покера)компании.Я бы точно играл в такие турниры.И если повезёт,сидел бы за столом в футболке с эмблемой CoinPoker.Как реклама данному руму,и благодарность за возможность участвовать в таких мероприятиях.
      P.S.Мне нравится играть именно здесь.Будет возможность выезда за границу-сделаю этот рум основным для игры.))

  3. I with hope watch long time development of CoinPoker!
    Your project in my opinion, at such policy and weak team. won’t be able to compete with others. For universal recognition and love of players to CoinPoker you need to create an individual counter in policy of involvement of new players. People in the world of poker have to know that only you have a real decentralized GSCh and satellites (SELECTION) on the well-known poker actions and tours by the cruise ships by the seas and the different countries! Constantly (hotyaba once a week) it is necessary to carry out FREEROLLS on a tour! Players with great desire will return to you at any time!!!

  4. Hi Alex,

    We currently don’t have plans for a browser version of CoinPoker, but it is definitely something worth considering in the future 🙂

  5. IT was so obvious from day 1 , if you are not taking commission , there is no possible way you could indefinately keep giving out free CHP s , in tournaments without the price crashing , but i guess you new that. NO doubt the heirachy of coinpoker sold there CHP s when they were still 20 cents , well done , and for all the slow learners who bought at ICO price , well at least coinpoker hasnt been delisted from exchanges YET . and you can get o.oo9 for them lol .

  6. Totally agree. So do all the significant (in the poker world) companies. I would definitely play in such tournaments. And if I were lucky, I would sit at the table in a T-shirt with the CoinPoker emblem. Like the advertisement to this room, and thanks for the opportunity to participate in such events.
    PS I like to play here. There will be the possibility of going abroad, I will make this room the main one for the game.))

    1. Hi Zmey3112,

      Thanks for the great feedback! We wish you the best of luck in current and upcoming CoinPoker satellites 😉

  7. Hi Alexander,

    Thank you for your feedback, and we’re glad to hear that you enjoy the platform. Regarding your question about changing user/table names could you please be more specific? Do you mean changing your usernames in-app or something else? 🙂

  8. The result of their coin is the fact the people running the site dont play online poker. They might have a little bit but until a online poker site is run by someone that actually grinds online poker daily it wont run properly. I have grinded online for 20 years and i do it for a living. I know what needs to be done to bring traffic on the site. And they ignored all of my requests just like all the other online poker sites that went of business. They think they know better then me and are hard headed about it. And they are seeing the results of ignoring what i say. I am not running your site but you need to find a online poker play that grinds EVERY DAY ONLINE for a living to make the decision for the poker site or it will never work. Its that simple. Then it will run properly and people come to the site. Those are the only people that know what needs to be done for a online poker site to run the right way. You have a terrible team right now and thats coin gonna be 0 if you don’t make some changes soon. Having a beauty model as your ambassador is good reason why you need new team.

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