Topic: [ANN] Syscoin - Business on the Blockchain - LAUNCHED! - page 192. (Read 490230 times)
Big drop in BTC, they cashed out the 250 TC?
Wow bitcoin talk I cant process such stupity with this kids
Please stop calling yourself investors a go play some
Xbox please
Please stop calling yourself investors a go play some
Xbox please
So people are aware, if the Syscoin developers do not deliver a working coin - we will be looking in to the process of investor refunds. It will be a pain in the ass, but it is within our capabilities.
We have requested an update from the Syscoin team, and made our disappointment very clear. A clear plan of action and timeline needs to be communicated.
In the interests of public transparency, 250 BTC was released purely for buy support (by request of the Syscoin team). It does not appear that this has been done however, and I am awaiting a response from Dan Wasyluk.
We will not be releasing any additional coins until all issues are resolved.
We have requested an update from the Syscoin team, and made our disappointment very clear. A clear plan of action and timeline needs to be communicated.
In the interests of public transparency, 250 BTC was released purely for buy support (by request of the Syscoin team). It does not appear that this has been done however, and I am awaiting a response from Dan Wasyluk.
We will not be releasing any additional coins until all issues are resolved.
Are you a representative of Moolah? If so, good on you and good for Moolah's reputation - I'd be more inclined to sign up for Moolah-backed/escrowed ICO's in the future if that's the case.
Best-case scenario of course for the devs to simply own up to what they did and fix this so we can get everything back on track. If not, even a refund at this stage would be a loss - it would represent a loss of time at the very least. Time that buyers could have spent on other opportunities. Let's all hope it doesnt come to that, but it's up to the devs. It's in their court.
I am the CEO and Founder, I have the final say on any matter relating to Moopay LTD. Slex just happens to be my nickname :-).
Indeed, on our end it would represent a loss of time, money and even more importantly - reputation.
If we do have to go down the process of refunds, we can automate for the most part by sending out a unique form link to associated email addresses. I would much prefer this be fixed however.
Will you take back the coins bought by us traders? After all it is us who bought most of the coins off the ICO holders who have now made a fat profit while we are screwed. A user suggested buying all the coins back with the funds below the ICO entry.
For coins that have been sold, this would be the likely plan.
Well I bought the ICO, and I should get precedent over traders who are bagholding...
Moolah, could you please confirm/deny that you will be providing 100% refund for people who bought this crap in the ICO stage?
This.They cannot. Best they can do at this point is 2/3 as they sent 250BTC to the team already as they claimed they needed it for buy support.
I hope the escrow has got IDs off the devs
We have enough information in general.
For what it is worth, I honestly believe that the SYS team will be fixing this. Our role in this partnership was essentially to be a safety net (and core service provider), and we are still here fulfilling that role.
We will not be making any hasty decisions, and will be given the team a chance to explain themselves, and communicate things clearly and concisely to the general public.
I am sleeping
Moolah, could you please confirm/deny that you will be providing 100% refund for people who bought this crap in the ICO stage?
This.They cannot. Best they can do at this point is 2/3 as they sent 250BTC to the team already as they claimed they needed it for buy support.
I hope the escrow has got IDs off the devs
If ANY impropriety has gone on then they will receive a visit from the FBI or some other agency that specializes in fraud. You would have to be a damn fool to attempt to get away with 250 Bitcoins worth of others money when a reputable party has all your ID. You ain't going any where.
Don't be naive. This is crypto, totally not regulated. Don't play the FBI card since it is silly. The coin failed, despite lots of devs effort. Those things happen in crypto. Trust is gone and there is nothing they can do about it now, however there are no bases for legal action. Altcoins are like gambling, we all lost on this one, devs are probably unhappy because the put lots of effort into this project, so I pity them since they might feel really bad now. Don't post any silly FBI threats, better concentrate on saving your money. Moolah spent some funds already, but the rest of the funds should be used on rebuying the coins. Period.
All of this could have been avoided if they had a competent project manager running the show. How??
They could have scheduled (in their FOUR months of preparation) a test launch on the testnet a week ago... Rented a truck load of hash to stress test the blockchain and worked the kinks out BEFORE launch date.
How anyone could have FOUR months of prep time and still screw the pooch shows the unprofessionalism that this dev team has brought to the table.
I fully understand issues happen and releases get pushed. But in software development a hard deadline is a hard deadline and you make sure all your ducks are lined up BEFORE the hard deadline.
They could have scheduled (in their FOUR months of preparation) a test launch on the testnet a week ago... Rented a truck load of hash to stress test the blockchain and worked the kinks out BEFORE launch date.
How anyone could have FOUR months of prep time and still screw the pooch shows the unprofessionalism that this dev team has brought to the table.
I fully understand issues happen and releases get pushed. But in software development a hard deadline is a hard deadline and you make sure all your ducks are lined up BEFORE the hard deadline.
Guys as I have said. Getting the team up and looking at the issues.
I think the better question to ask is. What have you been doing for the past few months aside from ripping 98% of the Litecoin code made by a real programmer.
+1
I am the CEO and Founder, I have the final say on any matter relating to Moopay LTD. Slex just happens to be my nickname :-).
Indeed, on our end it would represent a loss of time, money and even more importantly - reputation.
If we do have to go down the process of refunds, we can automate for the most part by sending out a unique form link to associated email addresses. I would much prefer this be fixed however.
I can only speak for myself, but there's no loss of reputation for Moolah if it successfully compels the devs to deliver what they promised and provide a convincing plan for going forward (including a reorganisation of their team) and retains the escrow until they do or gives back a refund if the devs don't/can't deliver. In fact, Moolah's reputation is enhanced under either scenario, as far as I'm concerned.
Guys as I have said. Getting the team up and looking at the issues.
I think the better question to ask is. What have you been doing for the past few months aside from ripping 98% of the Litecoin code made by a real programmer.
sssshhht. Don't disturb. The dev is sleeping.
Wonder if he stayed at a Holiday Inn Express last night?
Wow. Talk about literally going to sleep at the wheel. You pocket 250 BTC off Moolah as an advance payment for price support then invest none of that in price support... No wonder you guys were asleep... Use the BTC for blow and hookers?
Got to love bitcointalk..
My rig is avaible,go mine some syscoin https://www.miningrigrentals.com/rigs/7657 actually 28mhs I advertize it as 27mhs.
Guys as I have said. Getting the team up and looking at the issues.
I think the better question to ask is. What have you been doing for the past few months aside from ripping 98% of the Litecoin code made by a real programmer.
sssshhht. Don't disturb. The dev is sleeping.
If you are here for the PRICE GAIN, then you are wrong.
This is a coin that has actual features, not your usual pump&dump copycoin.
This is a coin that has actual features, not your usual pump&dump copycoin.
Features like:
Stuck on blocks for several hours
0 confirmations for hours eventhough blocks are being found
awesome work devs!!
Moolah, could you please confirm/deny that you will be providing 100% refund for people who bought this crap in the ICO stage?
This.They cannot. Best they can do at this point is 2/3 as they sent 250BTC to the team already as they claimed they needed it for buy support.
I hope the escrow has got IDs off the devs
If ANY impropriety has gone on then they will receive a visit from the FBI or some other agency that specializes in fraud. You would have to be a damn fool to attempt to get away with 250 Bitcoins worth of others money when a reputable party has all your ID. You ain't going any where.
All of this could have been avoided with a short delay to get everything in order...can't believe it was rushed out the door like this, after 4+ months of work...
So people are aware, if the Syscoin developers do not deliver a working coin - we will be looking in to the process of investor refunds. It will be a pain in the ass, but it is within our capabilities.
We have requested an update from the Syscoin team, and made our disappointment very clear. A clear plan of action and timeline needs to be communicated.
In the interests of public transparency, 250 BTC was released purely for buy support (by request of the Syscoin team). It does not appear that this has been done however, and I am awaiting a response from Dan Wasyluk.
We will not be releasing any additional coins until all issues are resolved.
We have requested an update from the Syscoin team, and made our disappointment very clear. A clear plan of action and timeline needs to be communicated.
In the interests of public transparency, 250 BTC was released purely for buy support (by request of the Syscoin team). It does not appear that this has been done however, and I am awaiting a response from Dan Wasyluk.
We will not be releasing any additional coins until all issues are resolved.
Are you a representative of Moolah? If so, good on you and good for Moolah's reputation - I'd be more inclined to sign up for Moolah-backed/escrowed ICO's in the future if that's the case.
Best-case scenario of course for the devs to simply own up to what they did and fix this so we can get everything back on track. If not, even a refund at this stage would be a loss - it would represent a loss of time at the very least. Time that buyers could have spent on other opportunities. Let's all hope it doesnt come to that, but it's up to the devs. It's in their court.
I am the CEO and Founder, I have the final say on any matter relating to Moopay LTD. Slex just happens to be my nickname :-).
Indeed, on our end it would represent a loss of time, money and even more importantly - reputation.
If we do have to go down the process of refunds, we can automate for the most part by sending out a unique form link to associated email addresses. I would much prefer this be fixed however.
on top of what has happened with this release the fact that there has been no buy support when this was stated from the beginning should be grounds enough to refund money to investors. you can't blame people selling out now as the price falls below stage 1 and 2 ico prices to protect what capital they have left.
Please understand that from our side, we cannot rush in to any decision (in either direction). We will be actively monitoring and reviewing the situation today, and have requested clarification.
if nothing else good comes out of today i commend you for stepping out and hearing ppl out. i haven't dealt much with moolah before but will be taking a closer look at what you guys do as i like how you operate.
Guys as I have said. Getting the team up and looking at the issues.
Sweer.Price is going up.
Yep, let him do his job - assess the situation, resolve the issues, reassure investors. The coin will recover. Cloak went down 75% before it went on to hit 320,000 Satoshi. Shit happens. Glad to see one of the devs is here and answering the call.
and give us a fair solution.
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