Topic: Blocknet admits to buy into their own ito - censored content inside (Read 3655 times)

You obviously would never succeed:

I think you are looking for a deeper level of logic that doesn't exist in this situation.

I get that, but why offer people an unfinished product due to lack of funding, that they promise to finish? Technically speaking, it sounds like they're selling them something with zero value, as the product is unfinished and unusable, under the impression that it will be finished when they can pay for development.

If they can pay for the development already, then why are we selling people something that is not a finished product, and not even in a usable state, giving the impression that the only reason the product isn't finished is because they don't have enough money, and then saying that they need your money so they can put money aside to buy their own token?

I'm just not seeing it, it's not adding up.

I mean, what's stopping them from buying the entire $300000 minimum of the ITO in the first place, so they don't have to refund people, to secure all extra money of an unsuspecting buyer which might have been $300000 anyways?

Im just looking for a transparent ledger is all.

Regardless of the actual cost of development, I'd expect the ledger to show the spending for that as well, because even if it costs only a few thousand to finish the software, they can put the difference toward further improving the product, maybe even propose a 'bonus' for getting it done on time and exceeding expectations?

It looks like we're skipping right to the 'bonus' and cutting out everything inbetween, but I don't have a transparent ledger to verify that.

Why else host an ITO?

What if something happens, and it becomes impossible to finish this? Wouldn't they have wanted to protect people in case something catastrophic happens and it doesn't get done, especially if they already have the funding to do it themselves?

If they can already make the cheese, then why am I still being milked?

You monsters!!   

Same here. I even bought it with money they paid me with! For shame!

don't you see: the more they buy into their own ico the better for them because: impression of more demand and more coins for them since they get the spent bitcoins back in the end - it's their ico after all. Does the penny drop?
Ipo/ico in crypto easiest (and undetectable if you're not fully dumb) large scale opportunity to scam with next to no risk of getting caught in the entire human history.
People who send their coins to such presales must be retarded tbh.

Developing something costs Pizza and rent for a flat. You don't need 300k for developement. Are they actually hiring Stephen Hawking or what? For 300k dev fund you could let a team of professors and astronauts work it out. 

So if the team has enough money to buy into their own ICO, then why do they need the ICO in the first place? Isn't the biggest part here, raising enough BTC to pay for the development of the software in the first place?

I thought they were pinching pennies here. Is there any open documentation relating to how much money they spent buying into their own ICO?

I mean, they set a minimum of what? $300000 in BTC value? If they had all this money to buy their own ICO, surely they could have lowered this needed 300000 to further development on their project!

Where's the open ledger showing their funds?

That's a direct contridiction to his above statement.

He "paid himself back" for his time on the mobile development?  And then used the funds to buy BlockNET.

It's all just wordplay.   He used XC premine to buy BlockNET because XC owed him.  But stressed the XC premine was not directly used to buy BlockNet.

Those statements can't exist together and be truthful from what I can see.  Please elaborate on what he's actually saying (in your opinion)

Yo don't leave out the bit where he outlines what the premine paid for. Doesn't fit your agenda eh?

"He also shared with me that some of the premine was used to pay him to pay back some of the money he personally invested into XC's mobile app development. Some of that XC paid to him was then sold to buy his own stake in BlockNet, but he stressed that the XC premine was not directly used to buy BlockNet's ITO and has been used exclusively for development of XC and its related projects (including bounties, multi-pools, an ATM and the mobile app)."

We were also told months ago that all expenses would be transparently documented and they were not.  We were told there would be a list of expenses to come out soon - it has not.

Dan, Synchist & Teka all say it's no one's business how much they get paid which pretty much means they get to dip into the pot when & how much they want without ANY accountability.  In this case it was to buy their own blocknet tokens and get their XC back.


So in summary.  Dan sets his own salary and pays himself sometimes and doesn't others - no one knows.  And right before the blocknet he awards himself XC from the dev fund for back payment and invests it into the new blocknet where he will own both the XC tokens he paid himself and the blocknet tokens.

http://cointelegraph.com/news/112830/the-alt-cracks-1030-xc-spends-its-premine-nxtty-is-released-shaq-talks-quark-more

last thing I read about this was that the pre mine was spent by september and the funds went towards paying synechist and tekka and others. dunno if any proof of this has been posted yet.

be interesting if you can find where dan said that?

It's actually much worse than admitted in the OP.

In an article I read (but can't find) Dan admits to the interviewer using the XC premine that got moved to "Pay himself back" and he "Purchased blocknet tokens with it"

So essentially what you have is a developer using money from the premine to pay himself and buying into another security in which he owns both the XC he buys with and the blocknet tokens after purchase and the XC was taken from the community premine fund.

I mean ... how many holes do the XC hodlers have?  Not sure but Dan plans on finding out...

Don't sue us, bro!


(lel)


Ok, calm down everyone. Don't sue anyone for just 5 minutes. Can you do it? Sueing is banned for the next 5 minutes you little wieners.

Pretty interesting how all this crap is jammed down your throat. People roaming the forum trying to silence other peoples voices is a serious concern not only for me. Why don't you take your crap and just gtfo with your "sue-everyone" and your fucked-up shitcoin-cluster? Just gtfo fascist pigs! Stick your ito up the ass. You are done here. Fascists and beggars to the system not welcome! I think they have no idea what kind of people hang out here.
Go ahead, sue all the altcoinscene and try to sell your crapcoin then. Threatening people with violence in private messages what we have heard. You are not the bullies here. Your shitcoincluster is likely done with image-wise. You did great work in public relations, congrats.

Yes of course sorry. Please don't sue me.

shhhhhhhh go back to the dark thread..they need just 850 BTC they already have them they will smash soon the tech in your face as XC did with Rev 2

It's unbelievable that people would pay for vaporware at a valuation of 2500 BTC. Only idiots would defend it.

^ What he said. Xbridge code will be released shortly as proof of concept.

Sue my dick you troll fudding wanker. Yeah that's right, sue my dick.

It is not closed source

we are trying for months