Topic: [ANN] Syscoin- FINAL 2.0 LAUNCHED! *ENCRYPTION, MARKETPLACE, BTC INTEGRATION* - page 165. (Read 582967 times)

Upsetting that all the btc used to buy the SYScoin is worthless (assuming the coin never recovers). On top of that the BTC if paid in full right away could have been cashed out before BTC started tanking. In the end it's still a good sum of money but they need to get it and sell it before bitcoin goes down. If it takes weeks / months who knows what the price will be by then. Yikes.

@Dano , you can call me crazy and paranoid, but it seems to me that original deal of partial payments wasnt made for investors interest, but Moolahs own... Damn, you guys must have adrenaline rush past 24h. You work honestly and fair, just to someone steal your hard work rewards. You guys have my full support in what you are doing!

It appears a large wallet has just shown up on the Syscoin blockchain, roughly equivalent to the amount of SYS purchased using 250btc of the team's escrow fund as buy support early on during the launch issues. Hopefully this will be turned over to the team shortly, if so we can avoid legal action entirely (provided the related BTC is disbursed as well).

http://blockexperts.com/sys/address/SfZrsfQHw9FiQzy6wk4Ni1miXZsCY3yjN5

Wow, it's a hard time. But i still bought some coins.

BUY 0.00000216 23044.09722222 0.04977524

I wish you all the best .

Edit: Coins can be stolen, but great ideas are here to stay forever.

Hi all,  $SYS lead developer here. As Dan has said, this has not been an easy time for any of us.  The Moolah debacle has cost us dearly - both in terms of negative association as well as in basic financial terms - I dedicated myself 100% to syscoin some time back because our ICO gave us the means to do that, and not receiving that funding now is putting me and my family in direct financial jeopardy.

Nonetheless, I remain as committed to Syscoin as ever, because I know that the technology within Syscoin is stronger than ever and NOW is the time to push harder than we ever have before. This team has more skills and potential than most, and I'll be damned if I see that get destroyed because of this situation.

Just my $0.02..

+1

I want to thank everyone for their support through this troublesome time. The latest news which brings into question the identity of "Alex Green" - who goes by @slex here on BCT and is the CEO of Moopay LTD- owner of Moolah.io and Minptal (currently) is very troubling. While the true facts of that situation are still being uncovered one thing is very clear- the Syscoin team needs the escrow funds that were being held by Moopay LTD and we need them in full.

We made this request known to Moopay LTD / Alex Green and his associates over 48hrs ago (with exact amounts, and addresses to send payment to) after they failed to meet their own deadline on 10/14 and pay the October disbursement of 250btc to the Syscoin team. There has been zero meaningful communication from anyone at Moolah / Moopay LTD since missing the disbursement deadline, which coincidentally is the date they published their "bankruptcy" blog post. The next day this changed and Alex posted they would not be going bankrupt. Alex has posted his public resignation and has been very active on reddit overnight as well but refuses to acknowledge the outstanding 750btc owed to the Syscoin team.

This is now a legal matter and we have solicited representation in the United Kingdom to file the appropriate documents. We are also communicating with police in the UK related to the matter as well. If you are having problems with SYS private keys obtained from the launch, this unfortunately is not something the team can assist with and is in the hands of Moolah/Alex.

The Syscoin team remains committed to developing Syscoin and being one of the hardest working teams in crypto regardless of the circumstances. We will have an official blog post up later tonight regarding this matter after speaking with our legal team.

This entire legal process can immediately be avoided by Moolah / Alex Green by disbursing the escrow fund in full, before we file paperwork with the local [UK] court system. Disbursement addresses for the BTC and the SYS have already been provided to them.

Amen brother. Nothing about the coin nor the strength of the team has changed. It's a perfect time to sweep up more cheap coins for when this all blows over.

Botched launch is pretty strong words, their launch problems where there but with 40% plus more coding and six months coding labor, calling it botched is strong. They had some issues but all were worked out.

After that launch and people with attention spans of 5 years on in cryptos panic selling, things by now have been smooth sailing if not for moolah and Ryan Gentle.

Ryan Gentle has been really the only thing that has hurt this coin, as development has not stopped, coin has more stuffing going for it than 99% of all cryptos.

This is purely a FUD issue with Moolah at this point, and once it's settled this people will be very shocked what's coming if they looked at the roadmap and even took the time to talk to developers in IRC. They have been most transparent, and honest and upfront that any coin developers I've seen.

Just owns a large portion of the funds for development, and the name association is a reality. Just protecting my investment as I have a suspicion I know where this goes...

So true, but after a botched launch and now this, I wonder if this coin is cursed!!!

It's bad to hear you want to move away from SYS in a situation the coin itself is not harmed, the development continues and a company fails that does not own any of the SYS development.

Once again, chosing moolah as escrow provider appears a very bad choice in the light of recent events.
But Moolah does not own the team or any development of it!

Likely story is Moolahs assets will be frozen/seized. This means SYScoin will NEVER see the escrowed funds. This is real talk, be prepared for some serious turbulence. I for one am moving my small SYS investment into something else for the time being. Sorry everyone.

Yes, he did change the terms to his liking cause he was looking for a reason to not pay IMO. I think he might have been hoping syscoin would fail and he could keep funds. Who really knows.

I'm not legal expert at all, but escrow funds are supposed to be isolated and separate, as untouchable to him. If he does not have them, or unable to return in full, I'd think this could would be criminal case as in stealing property that doesn't belong to him.

So if this guy wants to stay out of prison or have a shorten visit there, IMO his lawyer would tell him to return escrow funds to avoid grand theft.

Mintpal and Moolah INC that might be whole different situation, but if anything Syscoin has best chance of all of getting funds back I'd think.

Well i didnt expect that. My SYS are leaving the Mintpal building!  Withdrawal honoured. 

If I remember right it was Moolah that dictated the terms of payment.  Much to the communities dismay.

Somehow I don't think Syscoin intended the partnership to be conjugal with everyone involved in Syscoin to be the mark.

SYS Coin has been added to EmpoEX. Direct link can be found below:
https://empoex.com/#market-tab-SYS-BTC

Re-tweet and get more exposure:
https://twitter.com/EmpoExchange/status/522489951913803778

Regards,
EmpoEX Team

That point should be put before Jackson P, and the guys who sold Mintpal, and the staff at Moolah, before the SYS crew.

moolah is your partner and you tell us you have done enough investigation of this company at the very beginning, now you tell us it's a scammer, what the hell!!!

Yes!!!