Topic: [ANN][Checkcoin] Explore the world using Checkcoin [PR PHASE] - page 23. (Read 237672 times)
January 15, 2015, 04:46:26 AM
First BitSend needs to answer the question posted. After that we will fry them if they don't provide legit answers.
January 15, 2015, 04:28:43 AM
Well I gotta say this is a little of bit of a surprise. I've been away for the past few days, when I left, CKC was trading above ICO price and now it's at 369 sat 
My CKC is now worth a fraction of my investment
I'm not fussed though, I still believe Bitsend is legit so I will continue to hold on to my coins and buy more when I can. The money I invest in CKC is money that I can afford to lose so if CKC hit 1 sat tomorrow, I'm not gonna be any worse 
The team needs more time, I got time. Let's see what happens.
@BitsendInc Do what you need to do guys. Stay strong
My CKC is now worth a fraction of my investment
I'm not fussed though, I still believe Bitsend is legit so I will continue to hold on to my coins and buy more when I can. The money I invest in CKC is money that I can afford to lose so if CKC hit 1 sat tomorrow, I'm not gonna be any worse The team needs more time, I got time. Let's see what happens.
@BitsendInc Do what you need to do guys. Stay strong
January 14, 2015, 08:49:15 PM
I hope they are planning to show what work has been done at least. I'd hate to think all the ICO paid for was a nice vacation for the dev team.
January 14, 2015, 03:50:50 PM
I know Bitsend has provided an updateon the future of Checkcoin, but if they want to keep their reputation intact, they will get Bittrex to host a buyback of the ICO for early investors who lost ALL of their investment at this point. It's very disappointing to see this happening to Checkcoin, but there is room for redemption and there is time to save the brand.
Bitsend, you must be more transparent now more than ever. If this doesn't go well, I don't think your company has much of a future in Bitcoin or crypto. Everyone has a bad taste in their mouth right now and it could have been avoided with better communication.
Stop crying, please. This is not the solution. They need more funds because the project has an high level of difficulty. I'll wait all the 2015 if necessary. Bitsend, you must be more transparent now more than ever. If this doesn't go well, I don't think your company has much of a future in Bitcoin or crypto. Everyone has a bad taste in their mouth right now and it could have been avoided with better communication.
The investors should have more Patience.
This is a forum. Do you know the definition of a forum? Are you the moderator? No? Then kindly STFU and let people have their say. I am entitled to voice my opinion here like everyone else. I am not trolling or spreading FUD. I am trying to discuss possible solutions rather than "whining about people crying" You don't like my crying? Ignore me. It's as simple as that.
January 14, 2015, 03:06:38 PM
Your stance and commitment speak in your favor. However the explanations given above are all but clear.
Let me suggest a few questions to help you shed light on the specifics :
- How did you fund the project until last week?
- Why did you sell BTC last week to fund the ongoing development? What has changed? Why last week?
- Why do you announce this 1 week later to CKC ICO investors?
- Did you sell all the BTC from the ICO or only a fraction of it?
- What is the degree of completion of the geo software?
- Why is it late in comparison to the original timeline?
- How much work/FTE is needed to complete the geo software?
- How much would it cost? What are the options?
- At what point in time can Bitsend fund the development of the geo software?
- What is your best estimate of geo software delivery? Or at least what are the scenarios?
- How would you provide a return to a potential investor? What would that person be investing in exactly?
Finally, why not asking for help within the CKC community first for development and funding?
Some tangible answers - even if controversial/disapproved - will help in the trust turmoil you're in.
Let me suggest a few questions to help you shed light on the specifics :
- How did you fund the project until last week?
- Why did you sell BTC last week to fund the ongoing development? What has changed? Why last week?
- Why do you announce this 1 week later to CKC ICO investors?
- Did you sell all the BTC from the ICO or only a fraction of it?
- What is the degree of completion of the geo software?
- Why is it late in comparison to the original timeline?
- How much work/FTE is needed to complete the geo software?
- How much would it cost? What are the options?
- At what point in time can Bitsend fund the development of the geo software?
- What is your best estimate of geo software delivery? Or at least what are the scenarios?
- How would you provide a return to a potential investor? What would that person be investing in exactly?
Finally, why not asking for help within the CKC community first for development and funding?
Some tangible answers - even if controversial/disapproved - will help in the trust turmoil you're in.
These are good questions but some have been answered in the updates as well. I will help with a few and leave the rest for Bitsend.
- Here is the ICO transaction again that has been posted. Obviously this is the used funds:
https://blockchain.info/tx/8979b44feaf7ab5672aaa5b5d8f32c3515b10b564926c9af6bfeb1112d67d35c
https://blockchain.info/address/1GMFKbFfZN983c6ZRzxLVdXMyxBLWreHvW
- They needed to sell the Bitcoins to ensure continuation. As you can see the bitcoin price today they saved already around $100 per btc which amounts to over $10,000. If they hadn't sold them Checkcoin would be a whole lot more in trouble so I'd say they played it well. Ofcourse they could just hold until it recovers but it's still speculation. If that wasn't a good move then please explain what else they could have done.
- They will post a roadmap when it's ready.
Thanks BTCat. I think however investors now need to understand the specifics in detail.
For example: we see BTCs were moved, but have they then been sold? All of them? If the plan was always to convert them to FIAT, why not have done so at the time of ICO or hedge the funds? Not doing so is speculation indeed, and poor business practice. If the plan was to keep them, why sell them now when there is little need for them if there is no dev to pay? What are these funds used for now? ...etc.
January 14, 2015, 02:33:42 PM
Really sh*t behaviour from Bitsend.
They should have handled this so much better from the start. The silence when begged by investors for updates would have been acceptable, if they were actually working on something.
According to the roadmap there should have been a tangible product developed by now. This 'blame Bitcoin price' nonsense isn't going to wash. If they've been sitting on the ICO bitcoin all this time, without investing it into development then the massive question is why? What exactly did ICO investors invest in?
This is a classic example of how to screw up a coin, which could have been a huge success because there is a clear gap in the market.
I don't think it's a scam, but Bitsend are hugely inept and out of touch. Just like before they'll expect people to wait around with vague promises and no communication.
Arrogance and ignorance. A deadly combination.
TL
They should have handled this so much better from the start. The silence when begged by investors for updates would have been acceptable, if they were actually working on something.
According to the roadmap there should have been a tangible product developed by now. This 'blame Bitcoin price' nonsense isn't going to wash. If they've been sitting on the ICO bitcoin all this time, without investing it into development then the massive question is why? What exactly did ICO investors invest in?
This is a classic example of how to screw up a coin, which could have been a huge success because there is a clear gap in the market.
I don't think it's a scam, but Bitsend are hugely inept and out of touch. Just like before they'll expect people to wait around with vague promises and no communication.
Arrogance and ignorance. A deadly combination.
TL
These are my thoughts exactly. This could have been a major success, but development wise it was a total disaster. Where are they now? Nowhere! They just said "well we ain't gonna make it, we need more cash and devs" and whoosh they're out of this thread again. The community manager is quitting too. This is a cockup of epic proportions and it's a terrible shame, the coin itself was a fantastic idea. Sad to see such potential going to waste. They've got nobody to blame but themselves.
This was the first ICO I invested in because I believed in this project, with real devs and a real company. If even THEY can't make it, who can you trust? I ain't even mad over the money I lost, I am mad because this was all preventable.
January 14, 2015, 02:27:10 PM
I know Bitsend has provided an updateon the future of Checkcoin, but if they want to keep their reputation intact, they will get Bittrex to host a buyback of the ICO for early investors who lost ALL of their investment at this point. It's very disappointing to see this happening to Checkcoin, but there is room for redemption and there is time to save the brand.
Bitsend, you must be more transparent now more than ever. If this doesn't go well, I don't think your company has much of a future in Bitcoin or crypto. Everyone has a bad taste in their mouth right now and it could have been avoided with better communication.
Stop crying, please. This is not the solution. They need more funds because the project has an high level of difficulty. I'll wait all the 2015 if necessary. Bitsend, you must be more transparent now more than ever. If this doesn't go well, I don't think your company has much of a future in Bitcoin or crypto. Everyone has a bad taste in their mouth right now and it could have been avoided with better communication.
The investors should have more Patience.
January 14, 2015, 12:30:47 PM
January 14, 2015, 11:01:24 AM
Really sh*t behaviour from Bitsend.
They should have handled this so much better from the start. The silence when begged by investors for updates would have been acceptable, if they were actually working on something.
According to the roadmap there should have been a tangible product developed by now. This 'blame Bitcoin price' nonsense isn't going to wash. If they've been sitting on the ICO bitcoin all this time, without investing it into development then the massive question is why? What exactly did ICO investors invest in?
This is a classic example of how to screw up a coin, which could have been a huge success because there is a clear gap in the market.
I don't think it's a scam, but Bitsend are hugely inept and out of touch. Just like before they'll expect people to wait around with vague promises and no communication.
Arrogance and ignorance. A deadly combination.
TL
They should have handled this so much better from the start. The silence when begged by investors for updates would have been acceptable, if they were actually working on something.
According to the roadmap there should have been a tangible product developed by now. This 'blame Bitcoin price' nonsense isn't going to wash. If they've been sitting on the ICO bitcoin all this time, without investing it into development then the massive question is why? What exactly did ICO investors invest in?
This is a classic example of how to screw up a coin, which could have been a huge success because there is a clear gap in the market.
I don't think it's a scam, but Bitsend are hugely inept and out of touch. Just like before they'll expect people to wait around with vague promises and no communication.
Arrogance and ignorance. A deadly combination.
TL
January 14, 2015, 10:03:15 AM
January 14, 2015, 08:39:20 AM
We heard that before. They can post whatever they want but I am staying the heck away, and my guess is that I am not alone.
No one in crypto can afford these kinds of mistakes, there are hundreds of coins to choose from. This had something good going in theory, but as with any other shitcoin out there it turned out just to be vapor.
Truly and bitterly dissapointed.
January 14, 2015, 07:48:07 AM
better if sent email directly to
the bitsend.nl
because it seems they never appear on here again,..
just gone
the bitsend.nl
because it seems they never appear on here again,..
just gone
Mig you say this every day even if they do come around. They were online yesterday. What's the use?
January 14, 2015, 07:46:25 AM
Your stance and commitment speak in your favor. However the explanations given above are all but clear.
Let me suggest a few questions to help you shed light on the specifics :
- How did you fund the project until last week?
- Why did you sell BTC last week to fund the ongoing development? What has changed? Why last week?
- Why do you announce this 1 week later to CKC ICO investors?
- Did you sell all the BTC from the ICO or only a fraction of it?
- What is the degree of completion of the geo software?
- Why is it late in comparison to the original timeline?
- How much work/FTE is needed to complete the geo software?
- How much would it cost? What are the options?
- At what point in time can Bitsend fund the development of the geo software?
- What is your best estimate of geo software delivery? Or at least what are the scenarios?
- How would you provide a return to a potential investor? What would that person be investing in exactly?
Finally, why not asking for help within the CKC community first for development and funding?
Some tangible answers - even if controversial/disapproved - will help in the trust turmoil you're in.
Let me suggest a few questions to help you shed light on the specifics :
- How did you fund the project until last week?
- Why did you sell BTC last week to fund the ongoing development? What has changed? Why last week?
- Why do you announce this 1 week later to CKC ICO investors?
- Did you sell all the BTC from the ICO or only a fraction of it?
- What is the degree of completion of the geo software?
- Why is it late in comparison to the original timeline?
- How much work/FTE is needed to complete the geo software?
- How much would it cost? What are the options?
- At what point in time can Bitsend fund the development of the geo software?
- What is your best estimate of geo software delivery? Or at least what are the scenarios?
- How would you provide a return to a potential investor? What would that person be investing in exactly?
Finally, why not asking for help within the CKC community first for development and funding?
Some tangible answers - even if controversial/disapproved - will help in the trust turmoil you're in.
These are good questions but some have been answered in the updates as well. I will help with a few and leave the rest for Bitsend.
- Here is the ICO transaction again that has been posted. Obviously this is the used funds:
https://blockchain.info/tx/8979b44feaf7ab5672aaa5b5d8f32c3515b10b564926c9af6bfeb1112d67d35c
https://blockchain.info/address/1GMFKbFfZN983c6ZRzxLVdXMyxBLWreHvW
- They needed to sell the Bitcoins to ensure continuation. As you can see the bitcoin price today they saved already around $100 per btc which amounts to over $10,000. If they hadn't sold them Checkcoin would be a whole lot more in trouble so I'd say they played it well. Ofcourse they could just hold until it recovers but it's still speculation. If that wasn't a good move then please explain what else they could have done.
- They will post a roadmap when it's ready.
January 14, 2015, 07:35:43 AM
better if send email directly to
the bitsend.nl
because it seems they never appear on here again,..
just gone
the bitsend.nl
because it seems they never appear on here again,..
just gone
January 14, 2015, 07:15:07 AM
Hello everybody,
Checkcoin update from Bitsend:
Our team is working hard to develop Checkcoin in all aspects and will continue to do so for the coming year. We believe in the ideas of combining GPS Geocaching with cryptocurrency and will continue to support the project as best we can.
The Checkcoin team wants to be transparant to the community and share the current status of the project. As we never had in mind to make loads of money on this project but rather to get this fun an innovative project under our belt, we put up a pretty low budget for a project like this as any project developer will agree to. In addition, todays Bitcoin price hasn't helped us, all the funds for development were held in Bitcoin to keep it transparant for the community but last week we had to make the difficult decision to sell them 30-40% under the price at the time of the ICO, to ensure further development of the project. If Bitcoin keeps on dropping we would risk having not much funds left to reach our goals. We have to find ways to make sure development does not stop because of having less funds available. Bitsend is willing to finance the project by adding funds from it's own but we will only be able to do so on a longer term. The latest meetings with potential investors were without results but we remain open for meetings with interested people and companies, Checkcoin has a lot to offer and will continue to grow in all aspects as a cryptocurrency. It also means that we from Bitsend have to find other candidates to continue the development process within our new budget. At this moment we can not start the closed beta because the software is not finished. We have several offers from developers but the costs would be too high for our budget to accept them, we will and are actively meeting with new developers to continue the process as soon as we can.
Bitsend still stands for 100% in support of the project and we will continue to do the best we can for further development of Checkcoin and the GEO location software. For this, unfortunately we are going to need much more time than originally planned to overcome current difficulties and move to the next stage. We are sorry that we can not release the GEO location software as soon as we originally hoped for. We will very soon make a new roadmap with a plan of action spanning the timeframe of the next year. This will include more detailed information about what path to follow as well as a new expected release date.
We have committed a lot of time, energy and money to the Checkcoin marketing and development and we like to continue to work hard to make it a success. Checkcoin is still in it's stage of development and has a long future ahead to grow. Thanks everyone for your continued support.
The Bitsend team.
Checkcoin update from Bitsend:
Our team is working hard to develop Checkcoin in all aspects and will continue to do so for the coming year. We believe in the ideas of combining GPS Geocaching with cryptocurrency and will continue to support the project as best we can.
The Checkcoin team wants to be transparant to the community and share the current status of the project. As we never had in mind to make loads of money on this project but rather to get this fun an innovative project under our belt, we put up a pretty low budget for a project like this as any project developer will agree to. In addition, todays Bitcoin price hasn't helped us, all the funds for development were held in Bitcoin to keep it transparant for the community but last week we had to make the difficult decision to sell them 30-40% under the price at the time of the ICO, to ensure further development of the project. If Bitcoin keeps on dropping we would risk having not much funds left to reach our goals. We have to find ways to make sure development does not stop because of having less funds available. Bitsend is willing to finance the project by adding funds from it's own but we will only be able to do so on a longer term. The latest meetings with potential investors were without results but we remain open for meetings with interested people and companies, Checkcoin has a lot to offer and will continue to grow in all aspects as a cryptocurrency. It also means that we from Bitsend have to find other candidates to continue the development process within our new budget. At this moment we can not start the closed beta because the software is not finished. We have several offers from developers but the costs would be too high for our budget to accept them, we will and are actively meeting with new developers to continue the process as soon as we can.
Bitsend still stands for 100% in support of the project and we will continue to do the best we can for further development of Checkcoin and the GEO location software. For this, unfortunately we are going to need much more time than originally planned to overcome current difficulties and move to the next stage. We are sorry that we can not release the GEO location software as soon as we originally hoped for. We will very soon make a new roadmap with a plan of action spanning the timeframe of the next year. This will include more detailed information about what path to follow as well as a new expected release date.
We have committed a lot of time, energy and money to the Checkcoin marketing and development and we like to continue to work hard to make it a success. Checkcoin is still in it's stage of development and has a long future ahead to grow. Thanks everyone for your continued support.
The Bitsend team.
Your stance and commitment speak in your favor. However the explanations given above are all but clear.
Let me suggest a few questions to help you shed light on the specifics :
- How did you fund the project until last week?
- Why did you sell BTC last week to fund the ongoing development? What has changed? Why last week?
- Why do you announce this 1 week later to CKC ICO investors?
- Did you sell all the BTC from the ICO or only a fraction of it?
- What is the degree of completion of the geo software?
- Why is it late in comparison to the original timeline?
- How much work/FTE is needed to complete the geo software?
- How much would it cost? What are the options?
- At what point in time can Bitsend fund the development of the geo software?
- What is your best estimate of geo software delivery? Or at least what are the scenarios?
- How would you provide a return to a potential investor? What would that person be investing in exactly?
Finally, why not asking for help within the CKC community first for development and funding?
Some tangible answers - even if controversial/disapproved - will help in the trust turmoil you're in.
January 14, 2015, 06:38:56 AM
so sad 
the company but like amateur,..
the company but like amateur,..
January 14, 2015, 06:12:24 AM
Waxo and others,
I've already send Bitsend a message that I will not continue my role after coming thursday, I will sideline this project and see where it goes. I don't think it's as bad as you express, I believe Bitsend are actually good guys and they may be able to deliver on a longerterm. It's to everyone himself to decide if it's a good or bad project.
As for the pool post, not everyone thinks like you, Checkcoin has a lot of miners too and they may like to know. Development will probably continue like normal and miners keep on mining, it takes what it takes. It's my job to inform.
Sometimes people just forget the intentions of the project and think it is an easy job to deliver. If it were an easy-to-create product then it would have been made long ago.
http://www.cryptoarticles.com/crypto-news/checkcoin-could-become-the-foursquare-of-digital-currency
I've already send Bitsend a message that I will not continue my role after coming thursday, I will sideline this project and see where it goes. I don't think it's as bad as you express, I believe Bitsend are actually good guys and they may be able to deliver on a longerterm. It's to everyone himself to decide if it's a good or bad project.
As for the pool post, not everyone thinks like you, Checkcoin has a lot of miners too and they may like to know. Development will probably continue like normal and miners keep on mining, it takes what it takes. It's my job to inform.
Sometimes people just forget the intentions of the project and think it is an easy job to deliver. If it were an easy-to-create product then it would have been made long ago.
http://www.cryptoarticles.com/crypto-news/checkcoin-could-become-the-foursquare-of-digital-currency
January 14, 2015, 05:28:59 AM
For people that are interested:
New FREE 0% CheckCoin CKC mining pool is now available from @iSpacePools - http://ispace.co.uk
https://twitter.com/iSpacePools/status/555011245250977792
New FREE 0% CheckCoin CKC mining pool is now available from @iSpacePools - http://ispace.co.uk
https://twitter.com/iSpacePools/status/555011245250977792
are you fucking kidding US
BTCat, better for your reputation to stay away from Bitsend, the facts are here , they screwed us , telling bullshit and they did nothing , just blablabla , so FUCK them , i was the first supporter of this project , i am not here for FUD but just telling the truth.
FUCK ICO SCAM , NEVER BUY ICO COIN .
January 14, 2015, 05:02:02 AM
For people that are interested:
New FREE 0% CheckCoin CKC mining pool is now available from @iSpacePools - http://ispace.co.uk
https://twitter.com/iSpacePools/status/555011245250977792
New FREE 0% CheckCoin CKC mining pool is now available from @iSpacePools - http://ispace.co.uk
https://twitter.com/iSpacePools/status/555011245250977792
January 14, 2015, 01:11:46 AM
where the responsibility of bitsend,..? confused
this is not good for their business in future,..
they destroyed the trust
this is not good for their business in future,..
they destroyed the trust
Jump to: