Topic: ANN - LEOcoin - Official announcement regarding LEOcoin from LEOcoin Foundation - page 42. (Read 88341 times)

@LeoCoin Foundation.

Thank you for the clarification.


But finally, who operates the LeoXchange ?

@Peter78

A) Policy and responsibility

When I read the first line of the AML Policy statement on the LEOxChange website it says: "This policy is the Anti-Money Laundering (AML) Policy of LEOxChange". How you from this actually straightforward statement arrive to your - false - conclusion is again a riddle to me.

Answering questions is something entirely different and does not diminish the responsibility of the LEOxChange towards their own AML policy.


B) Data access

In an earlier post I stated that "The LEOcoin Foundation is not operating the LEOxChange or has access to their data, their client base, their funds or their IT platform." We can however see the data that is publically available, so your assertion that LEOcoin Foundation would not have access to any data of LEOxChange is obviously false. Please do not add things that we have not said.

On top of that, there also exist all kind of relationships between the LEOcoin Foundation and third parties, like the LEOxChange. In such instances information/data is shared but normally a secrecy agreement does apply with regard to what data may or may not be disclosed. This is not only common practise but also good practise, as it protects the interest of users, employee's, etc, with regard to privacy, AML and KYC regulation.

Yes like i said leocoin is going to the draw well  

I was being sarcastic... But you didnt get it like you never do here..
I have to smash your dreams, leocoin is run by a bunch of amateurs with no technical and real buissines skills, so even if they had good intencions with this coin, which they dont, they couldnt pull it off.

Yeah asap POS start then we can say Game changer start! 😎🍾💶💷💵

Maybe even 100£ after POS starts👍💶💵💰💴
I belive it just needs some positive good energy and all will be good.
I see bright future for leocoin, people only need to invest couple of 10.000£ and price will be 5£ and after those 32000 merchants all start it will be crazy.

Leocoin will easy hit 1£ buy i need 10£! 👍🏼

So the Leocoin Foundation is responsible for the Anti-Money-Laundering rules of LeoXchange.
Right ?

How , in that case, can the Leocoin Foundation do its job in these regards if - as you told as earlier - the Leocoin Foundation has no access to any data of LeoXchange.

@Peter78

Of course there are relationships, particularly with regard to legal rights, e.g. for the brandname 'LEOcoin', the logo etc. Nevertheless, the LEOxChange is a third party. Aside from that, thanks for pointing this out. The information needs to be updated, as the LEOcoin Foundation is no longer seated in Germany. However, the Anti-Money-Laundering measures, are still in force.

5% premine hahaha. Yes after 100 years it will come down to 5% but currently it is 20mio produced and 50 mio premine! That is reality! So it is a HUGE premine! In numbers more than 70% premine! And this premine will generate the biggest amount of coins when POS starts so the percentage will be even higher each year! And NO clear evidence that premine was given away... There were like 100 or 200 leocoin rewards for bringing merchants so maybe 5 mio leocoin was given as rewards all together. And if 10mio is with leocoin foundation there are still 35 mio coins with Dan and co. So dan and co have 50% of leocoins in their hands! And dan was also mining as i know so i guess he has arround 60% of all leocoins !
Nice money to be made if he can get fools to buy this coin !

@LEOcoin Foundation

I seem to remember that you told us that there is no relation between LeoCoin Foundation and the LeoXchange.
LeoXchange is a "third party".  Right ?


So why does the LeoXchange say the contrary ??

Thanks for great info! Hope in next part Dan will tellwhen LEOcoin start from POW to POS!👍🏼

Sorry, but are you joking ? That is an IMPORTANT figure to know for every investor.


Why not ? A good interviewer is a person who aks for details !

In addition, LeoCoin claims to be "transparent" !? So there should be no problem !!

LOL Peter78,

yeah, exact figures, like having the name and address of Satoshi Nakamoto or that "927 People Own Half Of All Bitcoins". I guess, Peter78, a "very small part" is as accurate as we will get. At least I was not inclined to ask for more private details.

@LeoCoin Foundation

Great Interview so far. Thank you.


It would help tremendously to build confidence if you could - please - ask to get the exact value of "very small part".

We are all business men and investors. And as such we are used to get exact figures....

Over the next few days, I will post parts of the interview. Today part two.

____

Sketches of LEOcoin
An Interview with LEOcoin co-creator Dan Andersson

LF: LEOcoin Foundation
DA: Dan Andersson


LF: On forums and other crypto world related websites LEOcoin is often regarded as a scam coin, connected with MLM pyramids. How do you deal with that?

DA: Many people do not understand the difference between a pyramid scheme and direct selling. The first is indeed a method to deliberately and systematically cheat innocent people; this kind of scam we obviously reject and therefor opt for transparency and compliance with local laws and due diligence. And I have written a blog on the Huffington Post designed to warn people about scam coins. As we see it, the direct selling industry simply represents a modern distribution strategy to build a worldwide network in a much faster way than would be possible with traditional methods. I am incredibly proud of our industry and have witnessed first-hand its power to fundamentally transform people’s lives.
We do however, understand that as a company which is involved in direct selling we always have to go a step further to gain confidence and have to work harder to earn trust, but this is essentially a good thing; direct selling itself is not the easiest job, yet swimming against the stream makes you stronger and more determined; both are such qualities that will clearly support to the long term success of LEOcoin too.


LF: LEOcoin has a premine of 50 million LEOcoins. Many people, like cryptominers, journalists and investors fear that LEO will dump all of them once the price goes up. Is this worry justified?

DA: No, not at all. Actually, a 5% premine is not that much and we had several good reasons for it.
Firstly, from the start we have been keen on establishing a foundation to support LEOcoin and we wanted to reserve a considerable amount for that. This summer we have donated 10 million LEOcoins to the LEOcoin Foundation. As a social enterprise, registered as a Community Interest Company, the LEOcoin Foundation is not allowed to make a profit and must invest its resources in pursuing its objectives. It is barred from activities that would undermine those objectives to support and expand understanding and interest in digital currencies.
Secondly, we, in this case LEO Ltd., used most of the remaining LEOcoins to promote the LEOcoin and let our members benefit from future developments; both for use as a payment mechanism and for capital building. The overwhelming majority of LEOcoin are in member wallets and with the mining community, not with LEO Ltd. or LEO employees.
The amount of LEOcoins still owned by LEO Ltd only forms a very small part of the total supply. We will of course always support LEOcoin. We will never ‘dump’ any LEOcoins or disturb the price – which is set by the market supply and demand mechanism. I should mention, here, that the UK direct selling regulations that we subscribe to prohibit us from participating in professional currency trading activities. The core business of LEO is education and skills development. We want to unleash human potential through delivering knowledge and give everyone who wants it, the means to become an entrepreneur. LEOcoin perfectly fits in this mission.


LF: Some miners complain that so many LEOcoins were allegedly sold to members and that the mining world was not informed from the start and thus missed the good mining opportunities that arise at the start of a new coin.

DA: Let me first make clear that LEO Ltd. has not sold any LEOcoins for cash to anyone. We did however use LEOcoin as an extra reward for our members and enabled our members to trade LEOcoin amongst themselves. This is part of introducing new audiences to digital currency.
Also quite a few miners got involved from the early stages, but greed and financial gain overrides sharing news with your potential competitors, so yes, it took a couple of weeks before the first mining pools did arise and even longer before it was generally known in the mining community.
Aside from that, we took great care that LEOcoin could be publically mined from the start, just like many other digital currencies. We never made any restrictions or demands in this regard, as we do understand that in order for LEOcoin to be accepted by the crypto world and beyond, you cannot work with a closed system. And up to today, we encourage people to keep on mining and staking.


LF: That sounds reasonable, after all, cryptominers are entrepreneurs too.

DA: Certainly they are and we do understand that they occasionally had to sell some LEOcoins to recover their electricity costs. Many LEO members are involved with mining too, just as LEO corporate, so we know how it works. Also for this reason we opened the LEOxChange so we would create liquidity and LEOcoin could be traded 24/7.
Unfortunately ‘bot mining’ took on unhealthy proportions last year and for that reason LEOcoin will likely switch from a combined POW/POS system to a solely POS mining mechanism.


LF: Well Dan, I am glad you mention the POS option. Most cryptominers will not be overly thrilled in this regard. We have already shared the information from Mr. Ramzan’s Bali presentation with regard to the advantages that POS has to offer, but perhaps you wish to add something to this.

DA: Gladly. In general, we understand that for the crypto mining community, the possibility to mine a digital currency is the core property for their business model. However, the successful mining of LEOcoin is still possible.
Just use the POS mechanism. Normally, miners would purchase new hardware and then use their hashing power to find LEOcoins or other digital currencies. If someone wishes to get more LEOcoins by POS mining, one could simply purchase LEOcoins and then use your wallet to mine/stake more LEOcoin.
The rewards – measured in LEOcoin – will likely be better as with the current mixed POW/POS mechanism, because the botnet hashes will be gone. It will also dramatically reduce your energy costs as an extra advantage. So instead investing in hardware, you finance – as a matter of speaking - a virtual POS mining machine with negligible operational costs and no depreciation. At the same time, your stack can be scaled up or down 24/7 with the use of the POS mining mechanism and the LEOxChange. This makes risk and money management extremely easy.

____


This interview will not be commented on, but comes as it is for your information only.

Man exchange is 0.06£ ... Later you will sale at 1£+ so your profit will be still huge!

If anyone is selling at 0.03 GBP or 0.001 BTC I am interested in buy them - I'm only looking for 100k+ please message me.

thanks,

Hahahahahah somebody to invest in leo that is funny story

Hahaha
Dan is looking to take money and not invest, if he was to invest he allready would.
Leocoin and leo buissines is a pyramide made for stupid people, well maybe it is made for everybody but the way it is run only stupid people can belive in it.
So you think somebody with milions will invest in this? Why? To become a platinum member or whatever they call it haha
Stop with this sci-fi dreams. Leocoin is DEAD!