Topic: ■|ANN|▌XVP |▌• VirtacoinPLUS • X11 • POW|POS • Stake Interest 7% • - page 37. (Read 148593 times)

This was the discussion when the financial issue was raised. Read it again and tell us how it ended.
https://www.reddit.com/r/VirtaCoinFoundation/comments/63t39m/it_is_not_fair/

I am one of the ones that offered to help defer some of the costs of the servers to the tune of $50.00 a month. There were more of us than me willing to do this. Our money was  never excepted into the program. WHY?

I copy this from above. There were offers to sustain the costs of the maintenance, but Emeka Okoli didn't like it because he wanted to be in charge and control the coin. If I'm reading everything right, I now know why. With all of these coins he would have no problem setting his agenda. [ His way ]. NO VOTING!

I do remember him crying that he could not do it alone financially.  WHY?

I do believe if he had of told all of us the truth in the first place, that he could not see Virtacoinplus plus going forward without some kind of Backup fund, we may have voted to keep the burn't coins for that purpose. That is in a special fund to be voted as to where it would be spent .

Like the investment fund that I donated 15000 Virtacoinplus too. I got them back. Thank You Balvio.

My mother and Fathers saying. You will get along in life nicely if you never LIE CHEAT OR STEAL. You will be able to make deals with just the shaking of hands. No paper work necessary. To me that is a special feeling worth way more than money. But then I am from the old school.

To-Day we all have to be on guard for crooks. Example The Politics of the United States of America.
IF HE HAS OVER 4 MILLION COINS, WHAT DO WE DO.
If Abledigital has coins left I suggest that he Come clean be truthfull tell us the amount and if sufficient put [ALL of them] in an investment fund that is controlled by a community voted by the community. If there is some serious coin there, there may be a way forward. If not I feel we are done.

All comments and other ideas welcome.

Thank You

Rosds D Taylor

Please send me PM with Your DOTCOIN wallet address that i could refund Your DOT, because it was old request to community in 2017.03.26. It is not valid any more.

P.S. now to list on Cryptopia it needs 5 000 000 DOT ( 5 million Dotcoins)

Ok I get it. I thought it was a new move. Thank you for the memory. There's a lot to learn from the past.

the point is that originally, i don't believe that bigger exchanges is the way for-world, if not that my believe by now all this bigger exchanges should have xvp listed in them by now.

No, please dont try to donate, because it is old request and not valid anymore...

Sorry he is not the father of XVP. That is the mistake that led us into this mess. We need to know that it is a community effort not an individual one. What you are doing is exactly how we should be functioning instead of depending on one person. He is already aware of Cryptopia and hopefully, he will also contribute.

As for the donation for listing, I will try to  make my donation.

The Sludge hammer Shot !!  When they'll be hit through the hammer, most wake up to reality  Just be patient...

I have feeling that he could do something like this and he did. They even didn't try for our c-cex exchange. Anyway, it is good for us as he dumps early stage.

Do You remember my request on 2017 May 26

Then we needed 2 000 000 DOT (dotcoins) to list XVP on Cryptopia.

If we look back to that day 2017 May 26:

1 DOT = $0.001136 ( 2 000 000 DOT = $2272)
History on coinmarketcap: https://coinmarketcap.com/currencies/dotcoin/historical-data/?start=20170526&end=20170526

1 XVP = $0.072573 (To list to Cryptopia we needed $2272 = 31306 XVP)
History on coinmarketcap: https://coinmarketcap.com/currencies/virtacoinplus/historical-data/?start=20170526&end=20170526

And now we find that our XVP father @Abledigital always had 2 000 000 XVP.... When from the beggining we could be listed on Cryptopia and other paid bigger Exchanges if he had thinking not about himself but about XVP future..... It is very sad...

Greetings everyone. This update is to address an issue that has everyone asking questions. I do not need to bring to your attention anymore, that the value of XVP has been down for over two weeks now.  I believe you're all already aware of the current price.

This update may have come a little late for which I implore you to accept our apology. The reason for the late response is because from the very moment we noticed the sharp fall in value of the coin, we have held several meetings and discussions to better understand the situation before coming out to address you. Therefore we feel this is the appropriate time to feed you the information you seek.

I will try to make it short and simple since I believe Balvio probably has a better explanation to offer those who want more.

THE SITUATION

1. A swap was held in March (15-25) following the collapse of Virtacoin (VTA), and the development of VirtacoinPlus (XVP) following a consensus by the community.

2. While the swap was ongoing, there was also vote on what should be done with the remaining XVP. The majority of the community agreed that remaining coins should be burnt to avoid a situation that could pose threat to the progress of XVP if dump should ever happen. On the other hand, those against burning believed remaining coins should be used for future development of XVP.

4. The problem however was that the bulk of the financial burden lied on one particular individual (Abledigital) who felt he does not have to spend for a coin that belongs to everyone as though it's his personal project. He was in charge of the swapping process and against all odds, secretly kept 2  million XVP with the view that should he continue to spend on XVP development without the community dealing with the financial responsibility, he'll use the 2 million XVP as an insurance to recover his funds in a situation where things go wrong.

According to him (Abledigital), he kept it a secret since he knew the community opposed the idea of keeping coins since majority want it to be burnt. If he did burn all coins and the community is unable to bear the financial burden of maintaining the coin, we may likely experience the VTA scenario and everyone would be a loser.

3. At the end of the swap on March 25, about 1.5 million XVP was remaining excluding the 2 million XVP kept secretly.

4. Attempt to burn the remaining 1.5 million coins proved to be a challenge according to those in charge of the process with (Abledigital) of course, being the lead. Burnt address provided by the coin developer failed to work and other efforts were resulting in conflicting transactions. However, following an advice to uninstall the wallet with the coins in it and format the computer seemed to have been the solution. It was then announced that 1.5 million coins was burnt.

5. Abledigital continued bearing the financial burden without complaining. Everyone was counting on what they considered as a personal sacrifice from Abledigital, unknowing to them, he has coins kept as insurance.

6. Some time later in October, there was a huge dump of XVP on bleutrade which sent price crashing down. It was observed and later discovered that the 1.5 million supposedly burnt coins reduced to 1.3, 1.2, 904k and on. The question of how comes rent the air with Abledigital left with the task of providing answers since he did the burning himself.

7. According to Abledigital, he has no idea what happened but posited that the developer could possibly have taken control of the coins. He said the developer was the one who handed over the premined to him and as a result, likely has a copy of the wallet file. Abledigital therefore requested that another swap be done to prevent the developer from doing more damage. However, considering the cost of doing another swap, members of the development team were not in support of the idea. For this reason, Abledigital Okoli who felt he has spent so much on maintaining the coin and developing services, decided to dump his 2 million (1.55m) coins in a bit to recover his funds before things get much worse. That was why the value went so low.

8. He did everything secretly until Balvio was able to discover that Abledigital was in possession of 2 million XVP. Abledigital then called a meeting and explained what actually happened and apologized for his action for secretly keeping 2 million coins, and dumping the coins in the market out of fear of not being able to recover the money he spent on XVP development.

9. The current issue at hand is that beside the 2 million coins issue, Balvio also keep insisting that the burnt coins were not stolen, but are also in the possession of the duo of Abledigital and one other member in the community, an allegation denied by both. Balvio's insistence has led to the stagnation of community activities, but some members blame the current challenge to lack of organization from the beginning, and dependent on one individual to bear the financial burden. They are with the opinion that what has happened has happened and people's investments are at stake. Therefore, the most important thing to do now is to work out a solution and move on since much of the coins has already been sold and are in circulation.

This is a brief explanation to what has been going on but if you are interested in a much bigger picture, Balvio may likely fit the bill by providing you with it. However, the fact remains that if we continue to dwell on the problem, we are left with the opinion of either accepting our loss and quitting, or coming together to fix the past. The only reason we will remain where we are due to this unfortunate situation, is to not see the possibility of coming out of it.

I remember saying the low value should be seen as an opportunity to buy more. But now I feel I should apologize to anyone who took my advice in case you are not in agreement with the members who are seeking a solution instead of throwing in the towel.

Abledigital has apologized and assured everyone that there'll be a solution to the problem. More update will be available later when available.

Lastly, he won't continue to bear the burden anymore, but he will be willing to support the coin like every other member of the community.


THIS ANNOUNCEMENT IS BASED ON THE OUTCOME OF OUR LAST MEETING ON CURRENT ISSUES

Thanks for your time.

i will begin staking my coin tonight, lets see if the lending is working 

Hello, m8es. Investigating things about this project, can you please give me a short description about the state of developing, plans and what is happening now?

Thank You. Refund received.(1003.21 xvp). Transaction ID: 845c8a2a5364e43ac8aa8ff43405e6144a48f56cfad011cc60f2ac0e120a94bb

Your desktop wallet is staking as long as there is a certain amount deposited in it (the bigger the amount, the bigger the stake rewards). You will receive your staking rewards for the time your wallet was closed, when you'll open it.

Visiting this ANN https://bitcointalksearch.org/topic/m.21788706, you'll see that TIF initiative is aborted. I'm not going to tell you the reasons why it gave up (right now), I'll do it when the time comes.
You are one of the investors who didn't follow our instructions specified in the ANN, so it was impossible to me to refund your TIF investment.
Please, send me a PM (or email) with your xvp address and I'll refund your TIF investment right away. Thx

If you close your wallet and reopen 3 days later you should get the coins that you did not stake for those 3 days. That's how other pos coins wrk and since pos are just clones of a clone I  don't see why this coin would be any different.

If You close Your wallet, it will not stake.

hi
does if i close my wallet for 1 week, my staking reward will be the same than if i let the wallet always open or not?
i mean the amount, by example instead get 3*0.1xvp, does i will receive 0.3xvp?