Topic: BitBay | Decentralized Marketplace | Unmoderated Thread - page 40. (Read 52771 times)

Which I did not, but that besides the point, as you are pushing that 3000 BTC ICO very-very hard, but the important we are back to topic here even if were off-topic there :-)))

Who are the BitBay guys?

How the money will be spent?

3000 BTC is a huge price
No way market could support current ICO price. It will go down as soon as trading is available

seing how fast first coins were bought I am almost 100% sure dev bought his coins by himself and will be glad to dump em on you for any price since he got em for free

I assume you never invested in a real world business in your life. Have you heard about angel investment, which kind of what we do here by funding projects? Show me an angel investor that would give you a cent if you say, sorry, I don't tell you how I spend the money, I want to keep that info "pretty close to the vest". That investor just don't exists.

As you know very well, no one was asking from the BitBay team detailed expenditure schedule. The issue is, the BitBay team has not provided investors with even a very high level, let say 300BTC breakdown spending schedule, never mind 100 BTC, which would be very reasonable as 100 BTC is 40k today. Have you ever seen a business plan where the raised fund is $ 1.2 million and they would say sorry, talking about figures like 40k is too much detail for us? Of course not.

But of course, since you aren't interested who are these guys, why you would be interested in how the 3000 BTC will be spent.

Any new company that wants investors should have no reason to NOT answer questions that are being asked.

Comparing Bitbay to amazon or  ebay is ridiculous...those companies have billion dollars turnover..they don't need investors and if they did they wouldn't mind answering questions.

Very well done you called Ebay, good man. Did you called the BitBay team as well? What's their phone number? Who they are? Since you worried about Ebay expenditures I thought you would be worry about BitBay's identity in the first place.

Here is my $50,000

I'll just shut my mouth and close my eye...take my money please.

Since my posts are deleted on that official thread, and no point to post there for me :-)) here is a part of a posts from @digicidal user that indicates how people supposed to make money:

"The bottom line is this... even if this were a scam, and the BTC was simply used to pump the coin and then dump it... with that much BTC for manipulation... it's gonna be one hell of a pump... and you should be able to capitalize on it.  On the other hand, if the parties are driven by greed (which we can assume as aren't all of us?) and even if they were initially planning on running with the funds - wouldn't it make more sense to get 10K BTC rather than ~2500 BTC?  It's clear that the amount of work required to deliver at least the first phases of this project (wallet/contracts/marketplace) is relatively simple to do... it's also obvious that if there's this much demand without those things being in place - then demand will only increase (along with price) - when it rolls out! "

Really? So we are trying to build a new market and digital currency ecosystem, get average Joes into crypto, trying to make digital currencies popular or are we doing a P&D? Isn't a the altcoin market in a very bad shape because such P&D mentality is the standard? Are we talking about taking on Ebay, but the mater plan is to ride the P&D and left the many naive, wannabe rich investors with financial loss?

Based on what I heard from them about how they will take on Ebay, I think exactly that's what they will do :-)))

You are absolutely right, but how can we have a rational conversation about expenditures if the BitBay team refuse to discuss the expenditures? I am sorry to use these strong words, but scammers raise fund like that: give me your money but not telling who we are and what we do with the money, because we have a young chess master (David), you know him, he work for us, and that should be enough to take on Ebay, it doesn't matter who we are. Is that a joke? Haven't we heard many times such explanations from scammers who contracted good developers and pulled out a scam?

I hope it's for marketing and if it is then this coin can be amazing. BTC gets lot of investors because of marketing and altcoins lack in that factor and if that money gets used for marketing this coin has lot of value.

I'm trying to see what's the next step after ICO and I haven't heard anything regarding where would money go.

I have invested 2 BTC but would I invest further? Probably not until I hear regarding what would happen to the money right after ICO has ended.

Would they start marketing right away?

Would they wait for 6 months before they start marketing?

or more importantly would they drive Ferrari and buy a nice house in Florida with that money?  J/K

As an investors those are very legit questions.

I fully agree with @Crypto King and @unusualfacts30.

I respect very much David, that young clever man has created a wonderful solution. However, Dave is not running the show there, he is just the face of the operation, the money goes to someone else. The attitude of BitBay team that refuses to answer legit question that request transparency is completely unacceptable.

It is about our market. We built this market and we need to protect this market from scams. The scammers, ICO, IPO, ITO and other frauds had their good run, enough is enough. These scammers would press the last cent out from investors and finally the altcoin market disappears, and our current investment will be gone then. So it's not about that I don't like Dave as some said in that moderated thread, I just don't like the secrecy and lack of transparency of those who uses Dave in their ICO.

Well, depends...
Good marketing for a strong projects costs a lot more than that.

I see a lot of good projects out there in the wild (not crypto related), which are not going anywhere. They lack marketing.
Marketing is very expensive those days.

If they are raising those money for developing alone, then yes 3000 BTC is a lot of money for developing alone.

First I would like to say I'm invested in Bitbay because I liked the idea itself and David in the team gave me enough confidence to invest my BTC.

Now, I think OP is asking legit questions and we would like to know what would be next step after ICO. 3000 BTC = $1230062.99

that's lot of money.

You are right and i completely agree, but i dont think any of your questions will be answered. Its just another way to raise btc for someone to eventually run away with.

I see. So because I look jealous and frustrated then the legit and valid questions of

1) Who they are, who will get the 3000 BTC

2) How the 3000 BTC will be redistributed

are "useless".

I fully understand people invested already in BitBay, there is people hard earned cash involved already, however there are many of us who hasn't decided yet, and I thought it is useful to submit that questions. BitBay Team's attitude is: we are not telling you who we are and what we do with the money, and that sounds me not quite right.

I am sorry for disappointing you, but in a market where 95% of the coins is scam and causes financial losses to investors, we must ask these questions. 

You leak frustration...
You asked some legit questions at first, but you started to look like a jealous and frustrated person.

I hope this useless thread gets deleted asap

That was my latest post that was deleted by the BitBay team at the official thread.


That I dislike David is absurd. I said here from the beginning that David is a very knowledgeable professional and he answered here with civility and he was really professional. He seems a great guy. I have nothing but respect for that young man who create a wonderful technology. As you know very well, the discussion is about who is running the show here? That's why the Blackhand group was mentioned, not because anyone is questioning David's integrity. We understand David is not collectiong the money here, he is a developer, and we would just  like to know who is then the collector of the 3000 BTC?