Betfury.io | 2022 Review [BFG Price & Dividends]
100% Reliability !
2022 was another year of flawless operation for Betfury.io, the site was always online, no funds were stolen, dividends were paid out as they should, There was 100% uptime and I never had any issues with bets that I took on their Sportsbook and both Deposits and Withdrawals never caused any issue without the need for any KYC, There always was enough liquidity to buy or sell BFG, ...
This during a year like 2022 in crypto on its own is quite an achievement seeing how much fraud there was in this space. However, it's not because there was no issue this year that there won't be an issue in 2023 as it all remains high-risk investing in a very unregulated space. This does however give confidence for 2023 even though it remains a site where you need to deposit coins to wallets where you don't have the private key from which always requires caution.
BFG Price & MarketCap
BFG a year ago was at 0.025$ and today it's trading at roughly 0.012$ which means the token lost 52% of it's value and this not counting the dividends which is not all that bad in a bear market year where Bitcoin lost 65% of its value and where most altcoins easily did -90%.
Because there is actual revenue that gets distributed, the price can only fall that much to the point were the returns are too high for holders to sell.
Since BFG tokens are mined by players while there also were farming mechanics, there was a pretty big increase in total supply going from 2.18 Billion BFG to now 3.28 Billion BFG meaning there was a +50% inflation in coins. This mostly was the result of farming which quickly put a lot more BFG in circulation and also created a high dividend % which was always going to be unsustainable.
Right now 4.88B coins out of 5 Billion are mined meaning the inflation will stop in approximately 17-20 weeks from now and the big question remains how the fact that players will no longer get BFG tokens as a reward for playing will impact the volume and revenue.
BFG Dividend Payouts
Holding 10k BFG which would cost you 250$ at the start of the year while today it's only worth 120$ would have given the weekly dividends that added up to 94.07$ when each week you would have sold for Dollars!
There is however a clearly downward trend both because of the heavy inflation of coins which dividends are being divided between and also because the total dividend pool was unable to keep up assuming the overall betting activity declined a bit. This trend was already set in 2021 but this should stop at some point since the inflation right now is much less extreme and all coins will be mined at some point.
Personal Performance
One of the great things about coins that pay out dividends is that the time that you have been invested really matters as the dividends continue to come in each week. I started the year with 400k SBET and managed to increase this to 550k BFG because of the farming rewards and also as I used some of the profit to cost-average more. This got me to a total value of 4765$ earned passively during the year (in case I would have sold for dollars each week).
2023 Expectation & Plan
I don't expect any issues for BFG in 2023 in terms that things will stay operational and dividends will continue to be paid out. This doesn't mean however that it can't happen and it's all a risk that you need to be willing to take. The big question will be in what way the end of players getting BFG as an incentive to play will affect the activity on the site. I'm quite sure it will in one way or another but I also don't expect it to fully fall flat. Caution is advised and I will keep an eye on everything going forward. I do expect the slow but steady in price and dividends downtrend to continue but at the same time will be tempted to buy some more BFG in case the price reaches below 0.01$. If things look right, I might try to get my 550k BFG up to 1M staked cost-averaging more over time.Conclusion
Despite the steady downtrend, BFG and Betfury.io actually have survived the bear market pretty well so far with just a -14% value drop compared to the start of the year when including the received dividends. Similarly in a bull market, it's unlikely for a token like this to do better on the upside compared to the market as there is a lot less of a speculative aspect to it. Tomorrow I will look back at Sportbet.one and the SBET Dividends.Crypto & Blockchain-Based Bookies and Exchanges that I'm personally using as they allow anonymous betting with no KYC or personal restrictions...
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Posted Using LeoFinance Beta
Hello! I don't know Sportbet and I confess I didn't know it left dividends, I'll wait for your post tomorrow if it's convenient I'll start my adventure there too!
On Betfury I also own a small amount of BFG they are almost at 70000; I would like to increase and it would be nice to reach a million but reinvesting the dividends it is very slow. I'll see how the new year goes and if it's the case I'll make some purchases.
Do you know Starbets? I have 210,000 Tikens there which currently yield almost 2.50 dollars a day in dividends... the token is not listed and can only be undermined by playing for now, but in my opinion it could go well alongside Betfury at the beginning!
Thanks for the updates and sharing, I follow you!
It's rather unknown and the dividend part is also hidden unless you are logged in. It's also not like BFG where coins are mined and devs own 75% of what is in circulation as they rely on it for their revenue. I just put up the complete 2022 review on it.
I think I heard of starbets but skipped it as I'm more drawn to sites that also have sports betting incorporated. Needing to gamble in order to get tokens is also not really my thing and I kind of made an exception for BFG in that regard buying into them once they became tradable.
I'm still looking for more similar types of projects though where there are gamblers who lose money which gets distributed to token holders. If you know more, always feel free to pitch them to me and leave a referral link!
Starbets in my opinion as soon as they list the token it will be right for you.
I am accumulating tokens through the dividends created because I hope that when they list it it goes like for Betfury, in the early days the BFG had a very pumped value of 30 cents if I remember correctly, those who owned many BFGs were able to sell a part of them by collecting good pennies.
I see looking for the review on Sportbets, I prefer betting sites for direct use; those with gambling for dividends because where there is gambling there is always big income and succulent dividends eh eh!
Thanks for your suggestions! If I find something interesting I'll let you know ;-)