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Topic: ♦♦♦BITSTONE♦BST♦♦NEW DEVELOPMENT CURRENTLY UNDERWAY♦♦NO PREMINE♦♦ NO ICO♦♦♦ - page 5. (Read 15180 times)

legendary
Activity: 1414
Merit: 1013
DMD info: https://diamond-info.github.io/
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.

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.

+5
You are absolutely right.
 Now this market is very small the open and honest coins.
Almost all new coins are trying to follow the path premine.
The more people talk about this issue, the more to be respect for crypto currency.
Why turn this market to the zoo where a handful of puppeteers a milking unsuspecting users..
sr. member
Activity: 434
Merit: 259
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.

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.

+1

Scott-
sr. member
Activity: 406
Merit: 260
The Scamcoats are coming!
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.

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.
legendary
Activity: 910
Merit: 1009
unlicensed & unregulated escrow services might lead to criminal and civil sanctions at least in CA

edit: so do you have a license number or company name we can search for to validate this escrow to be trustable & real and not some random dude who is actually part of the dev team
member
Activity: 98
Merit: 10
twitter.com/BitStone_Devs
member
Activity: 98
Merit: 10
twitter.com/BitStone_Devs
I have another very simple and direct question: Is the HashTalk member "ColdCoiner" involved in any way with this coin? Yes/No.

Edit to add: While I am thinking about it, is Carsen Klock involved in any way with this coin? Yes or No.

Protip: Tell the truth because this WILL eventually come out if you lie.

"Is the HashTalk member "ColdCoiner" involved in any way with this coin?"

The answer is No.

"While I am thinking about it, is Carsen Klock involved in any way with this coin? Yes or No."

The answer is No.

"Tell the truth because this WILL eventually come out if you lie."

The truth has been told Paul, no reason to lie about who is involved with this project.

-BitStoneDev

Excuse the delay in being able to answer you guys, there is a 6 min delay in between post.
legendary
Activity: 3654
Merit: 8909
https://bpip.org
Dr. Keith Harville

[...]

-BitStoneDev

Still referring to Dr. Harville in third person and still refusing to identify yourself? Why?

As for your whitepaper and transparency - you should have someone proof read it. There are contradictions, e.g. it states that 10% of total supply will be reserved for POW (129k coins) but elsewhere (including your website) it was stated that POW is 90k. Speaking of the website, take off those Lorem ipsums, it's an embarrassment.

So please stop referring to your whitepaper as a source for answers because it can't be trusted. Just state the answers right here in the thread in full coherent sentences and if you want to fix the whitepaper - that's up to you.

You can start with this:

Quote
Reserve
The BitStone Organization has structured a liquidity reserve plan in effort to
continually replenish the gemstone marketplace as BST are liquidated at
authorized merchants. To ensure a healthy and revolving ecosystem within
the Bitstone network, certain measures will be taken to assist the BitStone
Organization with liquidity and inventory controls. This will organically
increase the value of BST as inventory is sold, and allow 20% of the BST
exchanged remain in a liquid reserve. Example: If 1000 BST is exchanged
for a $5000 (1.5 CT) Diamond, the reserve will play the part of floating the
liquidated BST back into marketplace at a 20% higher price than spot.

Doesn't make any sense whatsoever. Just state exactly how the reserve is going to be formed, used, and audited instead of this fluff-speak.

Also take out the statement about escrow since you don't have one. That's called lying.
member
Activity: 98
Merit: 10
twitter.com/BitStone_Devs
what happens to the remaining coins if all 200k aren't sold?

The number I am seeing is 1,200,000 being premined, not 200,000. This is 93% of the stated total coin limit of 1,290,000 coins.

OVRGRO,

Thanks for your question.

We do have a backup plan in place will go over this below.

In the event all of the coins don't sell in Phase 1 or Phase 2, they will be moved immediately to Wallet 3 and be hosted in conjunction with the Bittrex Sale.

Wallet 3 will hold 700K BST originally and be available for audit at any time, as previously mentioned. 

I'd like to run out and example of how this scenario could potentially pan out.

If The Public Invitational only accounts for the sale of 85K BST -- that would leave a remaining 115K BST unsold out of the 200K offered in The Public Invitational. (Phase 1)

Those 115K BST that were unsold would than be added to Wallet 3 and be hosted with the other 700K BST , making it a total of 815K BST for sale during Bittrex offering.

The same scenario will apply to the Phase 2 offering.

If Phase 2 only accounts for the sale of 200K BST -- that would leave a remaining 100K BST unsold out of the 300K offered in this phase.

Those 100K unsold coins would then be moved to Wallet 3, and sold on Bittrex in full with the others proportionate to the rest of BTC invested.

With the scenario panning out exactly as described above, we would be looking at 700K BST + 115K BST (Phase 1 UNSOLD) + 100K BST (Phase 2 UNSOLD) totaling 915K BST to be sold during Phase 3 on Bittrex Exchange.

This is our PLAN B/PLAN C simplified in the fairest way possible.

Please let us know if you have any further questions.

-BitStoneDev
member
Activity: 97
Merit: 12
Money is nothing. Crypto currency is the future
I have another very simple and direct question: Is the HashTalk member "ColdCoiner" involved in any way with this coin? Yes/No.

Edit to add: While I am thinking about it, is Carsen Klock involved in any way with this coin? Yes or No.

Protip: Tell the truth because this WILL eventually come out if you lie.
I decided to ask someone such Carsen Klock and found very interesting information in this topic https://bitcointalksearch.org/topic/m.11060611
sr. member
Activity: 406
Merit: 260
The Scamcoats are coming!
Saying that there are no coins in the first 100 blocks when there are actually 93% of the total coins in those blocks (first block?) is NOT a typo. It is intentional deception. Then continuing on from there and claiming to have a "Fair Launch" only deepens the obvious intentional deception. Putting 1,200,000/1,290,000 of the coins in your pocket right off the bat is NOT a "Fair Launch".  It is the opposite of fair.

Edit to add: So you are saying that you have no intentions of even trying to verify that there are actually investors, and also have no intentions of even trying to prove that you and the rest of the "team" are not giving yourselves massive amounts of coins.
member
Activity: 98
Merit: 10
twitter.com/BitStone_Devs
So now the story is that you just "forgot" that Block 0 is actually 1,200,000 out of 1,290,000 total coins instead of the zero coins you stated, and that these 93% of the total coins go directly into the coin developers wallets, and that you accidentally said that this 1,200,000 coins don't go into your wallet when in reality they actually do.  Is this correct?

How is it verified that you are not simply creating smurf accounts and giving yourselves however many coins you want to, thereby screwing all of the people who actually pay for them and also deceiving them into thinking there is a massive amount of investors? This is a large part of how Josh Paycoined you Paycoiners with Paycoin, by the way.

"So now the story is that you just "forgot" that Block 0 is actually 1,200,000 out of 1,290,000 total coins instead of the zero coins you stated, and that these 93% of the total coins go directly into the coin developers wallets, and that you accidentally said that this 1,200,000 coins don't go into your wallet when in reality they actually do.  Is this correct?"

Hello Paul,

Not really so much of a story at hand here. Looks like we are trying to make a bigger deal then is needed for the typo. For you to say anyone "forgot"anything is a bit far fetched Paul. There are multiple sources that dictate the use of the 1.2M BitStone, and the fact that it says "BLOCK 1 - 1,200,000 BitStone" throws your theory of us "forgetting" about anything out the window. It is clearly stated with great detail everywhere you look, and we went above and beyond to show the community that an investment with us will be fruitful. What other coin development team has taken things to this level of giving back every step of the way? The answer to that question is none, and we can understand that is why you're raising the concerns you are...but time is of the essence here, and we ask that you give us that time to prove we mean business. 

"How is it verified that you are not simply creating smurf accounts and giving yourselves however many coins you want to, thereby screwing all of the people who actually pay for them and also deceiving them into thinking there is a massive amount of investors? This is a large part of how Josh Paycoined you Paycoiners with Paycoin, by the way."

The question you are asking above is one that has gone unanswered for the entire life of crypto currency crowdfunding. The only way that it is possible to achieve a morsel of success in doing what you asked above is to be as transparent as possible Paul. That means not only does the development team need to be transparent, but so does the investor themselves. There has to be investment rules in place that are catered to preventing such fraud like activity( fake accounts, shill account buying, etc ). One of the most important rules that's structured into this measure of preventing fraud like activity is : NO INVESTMENTS from NEWBIE accounts will be accepted. We will make sure that each investment received in Phase 1 and 2, is from a BitcoinTalk user that has sufficient history and is 100% comfortable with giving us a few sources of identifying contact information which will assist the BitStone team in determining weather or not the investment received is true and legitimate. Now with the Bittrex offering, we don't think there is anyway we can prevent others from whale buying, bot buying, waiting until the last min to buy, etc.

We understand there have been a few mishaps that have taken place in the crypto community, and completely see why the questions and concerns are surfacing from some people here in this thread.

We would like to invite any and everyone to come visit us here in Brentwood/Nashville, TN area.

How about we do this? The first 3 people to pay Dr. Keith Harville a visit and have lunch with him to go over the business plan will receive a free emerald, and a major discount on their first purchase inside the BitStone Store. The reason we propose this, is so respected people from the BitcoinTalk/Crypto community can come see what we have to offer and get a first hand look at the goods. With that being said, at the end of this meet and greet we will have hoped to earn your trust and respect. The only thing we would ask you folks to do is post a picture with doc and write a little blog here on this thread about your experience.

Let us know your thoughts on this.

-BitStoneDev
newbie
Activity: 50
Merit: 0
Wow, another mysterious coin  Shocked I can see that over the past few months has increased the number of people who want to repeat the path paycoin. Only a few people make good money on it by selling your peremine 12 - $ 15. The remaining customers were left with bare ass.
 I do not think that you will be able to attract the money of people who have been burned in this market. But it is possible that a pair of hamsters maybe does get into your network  Grin
legendary
Activity: 1414
Merit: 1013
DMD info: https://diamond-info.github.io/
http://coincreator.net  just 0.6 Bitcoins and you can create your own coin with 99% premine and promise the people that it will support the Pope himself or the president of the United States  Cheesy

No coin creator on this one, sorry to disappoint you.  Have you seen very many coincreator.net coins with our wallet? Me neither.  
I see you promote Diamond in your signature, funny thing is the Head of the Diamond Coin Foundation contacted me a couple of months ago about setting up a shop for Diamond coin... Nice guy and very dedicated.  Please do not post FUD on our thread

Unfortunately I will now have to delele your post since you modified it to include insults, but the original post is quoted in this post and will remain.

I do not understand why it was to remove my post.
It was enough just to say that you did not communicate with the service http://coincreator.net/ and  you have hired  own developers that would want a big jackpot.
But why it was necessary to create a premine - 93% is a lot.
Even a scandalous paycoin a took  less.
sr. member
Activity: 406
Merit: 260
The Scamcoats are coming!
I have another very simple and direct question: Is the HashTalk member "ColdCoiner" involved in any way with this coin? Yes/No.

Edit to add: While I am thinking about it, is Carsen Klock involved in any way with this coin? Yes or No.

Protip: Tell the truth because this WILL eventually come out if you lie.
sr. member
Activity: 242
Merit: 250
Diamond good coin
I see here are afraid of the truth otherwise why delete messages that reveal the  eye for the users on this coin?
https://archive.is/oB8iS
sr. member
Activity: 478
Merit: 250
what happens to the remaining coins if all 200k aren't sold?

The number I am seeing is 1,200,000 being premined, not 200,000. This is 93% of the stated total coin limit of 1,290,000 coins.

yes... i'm also clearly seeing round 1 is 200,000 coins, coincidentally i may be asking about that.
legendary
Activity: 3654
Merit: 8909
https://bpip.org
sr. member
Activity: 406
Merit: 260
The Scamcoats are coming!
what happens to the remaining coins if all 200k aren't sold?

The number I am seeing is 1,200,000 being premined, not 200,000. This is 93% of the stated total coin limit of 1,290,000 coins.
sr. member
Activity: 478
Merit: 250
what happens to the remaining coins if all 200k aren't sold?
sr. member
Activity: 406
Merit: 260
The Scamcoats are coming!
So now the story is that you just "forgot" that Block 0 is actually 1,200,000 out of 1,290,000 total coins instead of the zero coins you stated, and that these 93% of the total coins go directly into the coin developers wallets, and that you accidentally said that this 1,200,000 coins don't go into your wallet when in reality they actually do.  Is this correct?



How is it verified that you are not simply creating smurf accounts and giving yourselves however many coins you want to, thereby screwing all of the people who actually pay for them and also deceiving them into thinking there is a massive amount of investors? This is a large part of how Josh Paycoined you Paycoiners with Paycoin, by the way.
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