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When i was offered 10% of Bay by Steven, I thought they were buying it with their BTC. Only when the ICO started did I realize that wasnt the case.
My reluctance to expose it earlier (and by the way, I was the one to expose the entire scandal)... my reluctance was that they would do something like this. Anything that I discovered in the ICO phase would damage investors. So to be honest, I was trying to protect everyone involved including investors. I broke my silence because Bob was selling his Bay and provoking me with schill accounts.
...
So you believed they were going to buy that BAY with BTC
completely separate from the BTC received during the ICO? And you believed they were going to buy it
after the ICO was completed and unsold coins destroyed, from the open market?
See that's the problem I keep coming back to, because you continue to say that
I and other investors were being protected by you - but if Steven offered you BAY at any time prior to or during the ICO... then you were, in fact,
defrauding the investors. I don't mean you
wanted to defraud them, or that you
designed things to defraud them - simply that your actions (at a
minimum) are the very catalyst, which allowed the others to succeed in that fraud!
You keep saying that you were trying to protect the investors, but your decision created the only situation which virtually guaranteed that the investors would be the only ones that lost in the deal. Not Bob or Ryan, not Steven, not Lin, not you - just everyone else. I do not dispute that you were used. I do not dispute that you had good intentions going in. Unlike other notable critics, I do not dispute your abilities as a dev, nor the potential of both Halo itself and the BitBay
concept as outlined. In fact, that's exactly why I decided to throw a little BTC your way to support it - despite there being warning signs all over the place.
The problem however, is that you are
still partnered with Steven - and he had to know about
everything, or else he couldn't have offered you a single BAY in the first place! (He
could have offered you more BTC, and let you buy your own BAY when the markets opened... that would have been perfectly reasonable - and honest).
I do feel sorry for you - and I do hope for everyone's sake that you can make lemonade out of this unholy pile of crap... but I can only come up with two possibilities, even if I assume that you are 100% true to your word
now (which is
vastly different than your word
prior to, during, and even after the ICO):
Possibility 1: Steven is brilliant (but crooked) and was 100% aware of everything from the beginning... thus he knew you were being played - and was fine with that. Ironically, if he does indeed see BAY as a long term play and not simply a quick buck... then he might be the
perfect guy to run a coin on the business side. After all, he figured out the one way to get everything (including you) and even get rid of all of the other partners - while still keeping control of a majority of the proceeds!
Possibility 2: Steven is utterly retarded (but honest) and easily convinced into committing crimes by strangers, stabbing his friends in the back, and
destroying his own business' long-term prospects in the process. He's also completely clueless about markets, crypto currency, investing, sales, and everything else. If this is the case, he is the very
last person on the planet to which you should continue to tie yourself to, and the last person you want running the
business side of anything worth more than a cup of coffee - let alone thousands of BTC.
However, maybe there's a possibility that I'm missing... but I can't come up with one.
Oh and at least you're using a multisig wallet for what's left... hopefully that will prevent both you and Steven from making any weird deals with unknown people again. If only the investors could hold a third sig... maybe you should work on setting up a system where holders can vote for a community representative to hold a third sig.
If he had outlined everything before it had happened..they would kick him out of the team and as a result investors would lose money and thread would turn into fudstorm which is FAR worse than what is happening right now. Everyone would start complaining how they had faith in him and how he betrayed them regardless of him being truthful and honest.
I don't think you understand this but there WAS no way for him to save himself from the shitstorm. In your perspective one thing would be better than other thing but that's far from the truth. Yes, you would be happy but how about other investors? They would start whining about how they lost money. Bob & Gecko were threatening him and his family and asked him not to release any info. He has mentioned lot of times that he wanted to release info but they kept threatening him. It sounds more like he was stuck with something he didn't want to be part of.
You're right that he should've refused the offer of Free Bay but man gotta pay his bills.