Topic: ♦♦♦BITSTONE♦BST♦♦NEW DEVELOPMENT CURRENTLY UNDERWAY♦♦NO PREMINE♦♦ NO ICO♦♦♦ - page 4. (Read 15180 times)

Ok trolls, I can see from the pages of posts that you do not trust this coin or the developers.  Your points are noted on the thread and have not been deleted.  So at this point I would ask you to leave the thread so that the people that do think this is an investment we are interested in can stop reading all the BS you are posting. 

You are not going to mine or invest, so if your posting was meant to be of service to the community and warn us of the potential for a scam Thank You and we have now read your warnings so move to your next coin to destroy.  I have read all of your post up to this point and you are redundant and cluttering the thread.

You're being disrespectful and off topic. I'm asking questions. Don't like - don't read.

Delaware is likely:

http://www.coinbuzz.com/2015/05/22/toshidesk-the-social-altcoin-trading-platform/

so they should get to deletin your 20 or more stupid ass posts today?

Rich Territo // MasterTrader777
in your profile your location is stated DE. is that delaware, germany or derbys postal area in england?

Hey BitStoneDev please delete all these disrespectful off topic posts. Thank you.

You lost me here. I did not get any satisfactory answers at all. The only things that were stated directly contradict statements from earlier today, so which statement is to be believed?

The fact of the matter is that these VERY SAME gems were promised to be sold at less than their value before, and then the doctor decided to not go through with it and pulled the plug, even reneging on a simple promise to deliver a single 1 oz silver coin. Now he wants investors to trust him with millions of dollars. There is also the issue of the doctor being a known drug addict with some serious responsibility issues.

What makes you think that placing a sell order at 20% above market will increase the value? All those Round 2 investors will be dumping their coins, all those staking proceeds will be dumped, how is the "value per BST" going to increase?


... and it turns out you're going to dump the remaining 20% too, so much for the reserve.

Also missing from your plan is the part where the merchant is compensated for their merchandise, presumably in fiat? How? Or are you going to be the sole merchant?


No, it was page 17. The same page that you quoted above. The same page that mentions Rich Territo. Looks like you're the one not quite familiar with your own whitepaper.


So how about you post from your account and quit playing games?


I don't really understand most of this paragraph. Why would you offer ONE poster to come visit you instead of providing tangible verifiable proof to EVERY potential investor? So for example - do you have appraisals for all $1m worth of gems and will you share those? Or are you going to purchase the gems with the proceeds of the ICO?


Right here...


This is about POW. Your POW specs are contradictory all across this thread, the whitepaper, and the website. How many coins are going to be mined in the POW phase?

just a bunch of bummms with no life trying to troll with no purpose like the crypto cops. dam pigss, we will just have to wait until these idiots look stupid for saying the things they said.

I simply can't stand people who spend an enormous amount of time and typing to bring down projects before they even begin.  One person, in particular, not naming any names, (but you know who you are), is just getting ridiculous.  If you are not interested because things don't fit your utopian idea of a coin launch then please move the fuck on.  I certainly do not care about your ego.  Your like a fly on a beautiful picnic day ruining everyone's lunch.

I know at least MasterTrader77 is involved and that is good enough for me.  I know for a fact of his high integrity.  

There are some people, including myself that like the idea of this kind of project.  You have to have supporters to start any venture.  I for one am excited about this project.  We all are adults here, well most of us, and just constantly pissing on a tread is childish.  Don't you have better things to do?

Thanks for understanding.  

haha, you sure are getting back to being a bit trolly olly broooooooo. he has been giving you good answer and you still want to fuss fuss .




Oh wow, even more proof doc is in the business. Paycoin sucks, why would he continue a biz there and it not be with a good coin. looks like we have a hater here. what happens when people start getting gems? trolly olly some more broooooooo?

Here is the last time those very same gems, along with gold and silver were promised at less than their value and were never delivered: https://bitcointalksearch.org/topic/m.11122118
 From that post:


https://hashtalk.org/topic/36689/gold-silver-diamond-emerald-business-it-is-coming/3
Arxhive: https://archive.today/egnIg

I see no reason why selling products for less than you can purchase them will fail, that is the way it is always done- right?  

So , his last plan to make money selling things for less than he pays did not work out and he reneged on sending even a token 1 oz silver coin to Bitillionaire, but now everything is totally legit. Riiiiiight.  

Hello SuchMoon,

You said:

"If find it disrespectful that you're accusing me of not reading the whitepaper even though I repeatedly quoted parts of it. "

Excuse me if I have made you feel disrespected SuchMoon. I said: " If you will, please go ahead and read the whitepaper in full, and you will become aware of the current members of the BitStone Team."

The reason I have said please go ahead and read it in FULL, is because you keep quoting something from THE FIRST PAGE! I have asked many times that you please look it over in FULL because towards the end of the the whitepaer, the is a TEAM OVERVIEW section!

This TEAM OVERVIEW SECTION Reads:

Keith Harville M.D. – Founder
Keith Harville, MD is an OB/GYN, who recently moved to Nashville, TN after practicing for 10yrs in Arkansas. He’s been avidly involved as a Gem and precious metal collector. Dr. Harville is deeply involved in financial technology and is dedicated to bringing the crypto currency BitStone to the forefront of the Diamond and Gemstone trade. 

www.Bitstones.org
www.twitter.com/Bitstone_Devs

Van McMinn- Gemstone Advisor & GIA Graduate
Van McMinn is an independent jewelry appraiser, serving clients in the Middle Tennessee area since 1999. As a GIA trained Gemologist with over thirty years of experience in the retail jewelry business, Van offers impartial for fine jewelry, gemstones, and watches.

www.vanmcminn.com

Lou Britton – Precious Metals Advisor & Refiner
Lou Britton founded Auris Noble, LLC to provide expert handling and management of precious metals, scrap, and bullion. Serving a diverse array of industries as a full service refiner of every precious metal. Mr. Britton’s experience will provide advisory council towards market price and liquidity of BitStone assets. 

www.aurisnoble.com

Rich Territo- Founder of ToshiDesk & Lead Developer of Bitstone & Mastertradercoin
Rich Territo Crypto Enthusiast/Developer changing the way people view Crypto by developing the essential tools needed to strengthen the marketplace.

www.Twitter.com/MTRDevelopes


The above content I hope will address your concerns.


"Which page is that from? And while we're at it - can you confirm that Rich Territo is MasterTrader777? Are you MasterTrader777 currently posting as BitStoneDev? Are you Dr. Harville currently posting as BitStoneDev? Could you please just sign your posts or better yet - post from your real account so that we would know who is who and put an end to this ambiguity?"

The Page you are currently referencing is the first page.

Yes, I can confirm Rich Territo is MasterTrader777 - many other sources can prove this as well.

I have answered your question about MasterTrader777 posting as BitStoneDev already. Please check the last post I wrote to you. Let me save you time, yes this is MasterTrader777 answering all of your questions as of earlier today. Dr. Harville has also made his first post today using this account. Excuse me for that not being clear. Now it is.

"How would that help? Even assuming that you could somehow convince that you have $1m worth of stones - what am I supposed to do with that information? Post here and tell everyone "trust me"? That's ludicrous. It's YOUR job to convince investors. Anyone reading this thread so far should be terrified at the vague and confrontational excuses you're providing."

We believe this would help in a number of ways. First off, it help ease your concerns. That is whats important, and I feel I have been here looking at this screen all day..trying to give you the best answers to your questions with great detail and priority. We started out rough, and it may still be rough...but I'm not going anywhere, and neither is our team. You don't have to do anything, but come sit down, and meet with us...and ease your concerns. If you wanted to do a favor and post your report-maybe a picture or two, we feel that would do the COMMUNITY some good, because I have heard from a birdie that you have somewhat of a following. We are not asking you to come back here and ask people to trust you because you're right, that is quite ludicrous! People have their own judgement abilities and will do their own research before making an investment in the BitStone Project. Invest wisely with whatever tickles your fancy. Not asking you to even invest, I'm just doing my part as a member of this team...and in doing so not only convince you, but the others reading this thread that we are true with what we say.

You say anyone reading this thread so far should be terrified of vague and confrontational excuses. Let me tell you that all I have been doing all day...is reply to the communities questions, with great detail and thought in each answer.

I don't think I have missed one beat at all. Please tell me what questions I have not answered, so I can get those answered for you immediately. Sorry if I missed one out of the many, but that was not my intent...and will be here for a few more mins to address any concerns that were overlooked.


You say: "It is stated in your own whitepaper that for each 1 BTC invested you will ship $170 worth of gems. That sounds like a 50-100% markup. Since you're not explaining how the reserve works I can only assume that the remaining 0.5-0.25 BTC would go into the reserve but the expense structure of the "organization" is not specified either. Is it going to use the ICO sale proceeds to fund itself and to what extent?

You're asking for $1m or even up to $6m (following your own valuation of $5 per coin) of investments with nearly zero details of how that money is going to be used.

You have not addressed the obvious math flaws yet (10% vs 100k vs 90k for example). "


Yes the whitepaper states that for each 1 BTC invested in PHASE 2, the investor of the 1 BTC will be rewarded with an emerald valued at $170 USD. Plain in simple, we will send you an emerald right to your front door, or whichever address you choose.

We aren't "marking" anything up SuchMoon. We are simply giving back to the community at setting a standard for public offerings in the crypto community by awarding the emerald to the investor as a - Thanks for your support GIFT. It will be (1) Emerald shipped to your address. Us verifying your address is yet another way we can prevent against fraudulent investments. We have this brainstormed and game-planed way more than you are insinuating, and will follow through with each and every proposal stated in this thread, mark my words.

We have gotten into the Liquidity Plan quite a bit on the Thread and the Whitepaper, but I spend some time breaking it down even further. No problem what so ever SuchMoon

The Liquidity Plan Breakdown:

The BitStone Organization will administer and have possession of sufficient liquid assets to discharge current liabilities, in the event a short-term liquidity crunch or unexpected event will not lead to potentially disastrous consequences.

What this entails is that for every product sold within the BitStone store using BST will help strengthen the liquidity reserve. If we administer the sale of a 1ct Diamond - and the price for this stone is (for example purposes) $10,000. We will go ahead and calculate the current market price per BST. Lets say (for example purposes) each BST is valued at $2.00 when the market opens. The buyer would be responsible for providing a adequate amount of BST valued in the amount of $10,000. So simple math on this would be $10,000 (DIAMOND PRICE)   /   $2.00 ( BST VALUE) = 5,000 BST. The amount of BST required to purchase a $10,000 diamond with BST at the value of $2.00 equates to 5,000 BST. That 5,000 BST would be then transferred from the buyer to the seller, and when we confirm payment on the blockchian, the customer would then be free to go. Before they go, we would ask them if they were comfortable taking a picture with us, and posting it on social media. Marketing 101 there, no need to get into there. Next, we would take 20% of the BST Exchanged in that transaction (1000 BST) and transfer those 1000BST to the Liquid Reserve. The other 80% of the BST transacted (4000 BST) would be moved to the BST exchange wallet. We would place these (4000 BST) back on the market 20% higher than the spot price they were exchanged for, organically increasing the value per BST over a period of time.

The Reserve Fund that received that 20% of the BST (1000BST) from this sale, would then act as a digital safe. As inventory is and needs to be replenished, we would dip in and liquidate the BST needed to purchase new the new inventory and fill back up our display cases.

I can go into more detail if you need to but I will end it there for now.

Happily been at this computer screen all day, but now I think its fair that I get a small break from the actions.

-BitStoneDev

So you are saying that ALL coins will go into your wallets and then you sell them to people. Earlier today the story was that coins would never belong to the devs. Those are completely contradictory statements. As far as the supposed value of some bindles of green stones I do not agree, regardless of how many fancy certificates you can print up produce. The main thing I know about the gem trade is that it is all subjective, and there is no real set values for anything, unlike gold and silver. Just a couple months ago the good doctor also swore he was going to sell gold, silver, those very same gems (they were not valued at $1,000,000 then  ) AND that same picasso (copy of my drawings   ) for less than they were worth and then HE DID NOT DO IT. Why should someone believe him(you? Who am I talking to?)  now? Why should they believe anything he says after making false claims?  Also, the entire model of how the "reserve" magically produces more money than goes into it is complete BS as well. I probably missed some points, but I think this post is a good start at pointing out the obvious flaws in what you are trying to sell us.

Previous claim by the Doctor about selling that picasso: https://bitcointalksearch.org/topic/m.11185366

Hello
I'm still a novice in the world of crypto currency, but what I read here is very interesting and useful. I think that any beginner should carefully review all the material before you buy something.
 I realized that all coins with premine are highly risky investment. But I am curious why bitstone have not the website?
 Authors bitstone expect that to take a decision on the development of this project or the disappearance with the money investors? just curious.

"Making block 1 have 1,200,000 (93% of the entire total) available for YOU ONLY to mine and put in your wallet and then allowing everyone else to mine the other 7% is NOT a Fair Launch. Face it, it isn't and never will be. Saying it is a "Fair Launch" is a direct insult to anyone with a lick of common sense. "

Things are a little different when the coin set for launch isn't just some flash in the pan pump and dump with no overhead or assets backing its release.

The manor in which we are using this 1.2M is NOT to fill our pockets Paul. If you can step back and think about the situation with a clear head, or plan is to distribute 100% of the coins to the community and offer incentives on top of it.

Lets face it, you are continuing to state that we are structuring the distribution to hoard coins and not release them to the public, and that's so far from the truth...its not even funny.

ALL COINS will be sold from the 1.2M minded on Block 1, and the other 90K or so will be offered to SHA 256 Miners. We think its pretty ground breaking that miners with those old asics will have the opportunity to turn those miners back on...mine some BST rewards, and then be able to go apply those BST to the purchase of Diamonds, Gems, Rubies, Artwork, Etc.

We are trying to see the end result reason is to why you have such a problem with what has been mentioned above? Is it that you wish to mine more BST than the 7% or so offered?

We simply just cant offer more than what we are offering to miners at the present time for a number of reasons. The main reason is that we have real inventory backing these coins, and we have a good feeling the SHA256 farms are going to be all over this when POW Phase starts. You simply can't expect us to just giveaway everything do you.

Are the incentives we offered not good enough to invest a few bucks? The fact that we are giving away a diamond valued at over $2000 USD to one lucky investor which will be appraised and delivered before Phase 2 Starts not commendable?

Is the emerald we are giving away at the value of $170 (delivered to your door) not worth and investment of 1 BTC?

Lets take a look here... 1 BTC ($250) - 1 EMERALD ($170) = $130 Cost avg on your investment - on top of the BST you will receive after funding rounds come to an end.  You could sell the emerald for $170 or better and then sell your BTC back on the market, or come meet us at the BitStone store and exchange it at market value towards the purchase of ANYTHING in the BitStone Store.

Please tell us how we can do what we are doing better, and more fitting for you...without giving away too much inventory for free.

Paul you also mentioned:

"Also: Please explain why it is better to buy these coins and then purchase "gems" with these coins instead of just buying gems. The only reason I can see for this coin is to put other people's money in your pockets, using he lure of a promised value that simply makes no mathematical or economic sense at all."

You can go buy gems all day long Paul, its a free market and there is plenty of options out there for you. I will ask you, is there any option to use a crypto besides BTC to purchase these sort of good?

We wont sit here and say buying our gems would be better than buying another jewelers gems, but we will say we will try to beat the prices of our competitors.

That means buying BST and exchanging them for gems at our store will be lighter on your pocket, compared to taking your US dollar and going to Tiffany & Co and buying gems.

The point of using BST is to provide a cheaper alternative to buying precious diamonds and gems while introducing new people to crypto and giving them a reason to try it.

Bringing new money into the Crypto Scene is what Crypto needs...I will leave it at that my friend.



I will agree with you when you say the "ALTCOIN" market is very small.

The fact that the altcoin market is broadening everyday is the reason why Dr.K is putting up the big bucks to get involved.

You can't honestly sit there and think that the minimal crowdfunding we are looking to raise is absurd, when Dr. K is investing his time, MONEY, and faith into this project. Not to mention he is being FULLY transparent with who he is (name), his address, his phone number, his medical license #, etc.

Please show me a better looking looking project laid out such ours, and I will openly look at the one you propose and go look for pointers.



Thanks for your support, you are one of the few that actually get money, and what we are trying to achieve here. It won't be easy, but we are determined to make a big footprint in this space. We have the resources we needed to fulfill our obligations at hand, and time will show everyone with doubts that we are here to stay. We will fight to accomplish the task at hand, and wont let ANY naysayers get in the way of that.

Thanks again for your support, and look forward to having you come by the BitStone store so he can help add to the collection of yours.

-BitStoneDev

You seem to be contradicting Mr. Doctor here. He said coins are going to be sold below market value and he said I'm making an "accusation" when I mentioned hefty markup. He also claims this:


So you're saying the whole thing is about him selling those gems to the BitStone ICO investors?

If find it disrespectful that you're accusing me of not reading the whitepaper even though I repeatedly quoted parts of it. For example this as it pertains to the structure of your team:

How would that help? Even assuming that you could somehow convince that you have $1m worth of stones - what am I supposed to do with that information? Post here and tell everyone "trust me"? That's ludicrous. It's YOUR job to convince investors. Anyone reading this thread so far should be terrified at the vague and confrontational excuses you're providing.


It is stated in your own whitepaper that for each 1 BTC invested you will ship $170 worth of gems. That sounds like a 50-100% markup. Since you're not explaining how the reserve works I can only assume that the remaining 0.5-0.25 BTC would go into the reserve but the expense structure of the "organization" is not specified either. Is it going to use the ICO sale proceeds to fund itself and to what extent?

You're asking for $1m or even up to $6m (following your own valuation of $5 per coin) of investments with nearly zero details of how that money is going to be used.

You have not addressed the obvious math flaws yet (10% vs 100k vs 90k for example).

I already knew a developer who tried to implement the idea of selling gems with name emerald. The case ended badly.

It's abundantly clear the detractors do not understand that the inventory of loose gems has to be paid for somehow. You can't expect the doctor to shell out 6 figures and not want to be compensated, somehow.
Also, the standard markup for gemstones and jewelry is 25% through 90% in the industry.
It is clear that the valuation of the gemstones is retail, not wholesale. So, it is clear that if someone uses BST to buy a gemstone, a certain percentage can be liquidated to buy back replacement inventory. With the markup, the retail value of the inventory will end up being more.