Topic: [PRE-ANN][STEM] Stemcoin | x15 | PoS | StemMarket | iOS & Android |ICO STARTED!! - page 2. (Read 27564 times)

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so are you going to change the PoW phase again now to be shorter period? told you that you need more marketing push for this ICO,

Due to lack of interest in the ICO. We will cancel and refund payments. We will distribute ICO (now just premine) coins through Twitter promotions to you guys. I will be posting tomorrow what our team came up with as to the promotion. 5% of ICO will be given to the developers as compensation to work on features. Sorry for all the confusion, I hope we can gain your trust. Mining will start within a few days. Our Twitter promotion will be announced tomorrow so you can get your share of Stemcoin! Thanks!

I posted this to basically inform that I had these same suspicions early on while still discussing the possibility of hosting this ICO. It was definitely odd in my book. But I decided to give him the benefit of the doubt. I came to the conclusion that if we took the necessary precautions and made sure the person or team behind this coin had a CoinsSource Trust Index or POD that it would speak wonders for the legitimacy of this coin. I have talked to the creator of this coin a lot. I do not believe he is trying to scam anyone, I think he might be an avid cryptocurrency enthusiast who just doesn't have the experience of pulling something like this off right away. I think he was a little jumpy in launching an ICO but we supported him for it because we are entirely new, and offers like this do not come to us everyday of the week like Bittrex. We wanted to focus on being professional and transparent as possible. I feel as an exchange thats all we can do, and there will always be apparent risks to the buyer of any ICO or investment in this nature. It is unfortunate that this incident has not worked out in favor of everyone. But I also feel that nobody would have got scammed in this incident if the ICO did raise enough funds. The creator has failed to do a CoinsSource Trust Index or POD so we would have not released the funds and returned on purchases to investors. He has also not done a couple other stipulations outlined in our ICO Policy. He seems to have a new vision and I wish him the best. The ICO will be cancelled and all funds returned promptly.


This is great advice as well and I thank you tremendously. We will be looking to update our policies as much as needed as our business continues to grow and this industry rapidly changes.

[10/12/2014 12:25:01 AM] degenorate: do you speak chinese?
[10/12/2014 12:26:17 AM] Branden - StemCoin: lol, that was one of our team members or our other promoter/announcer
[10/12/2014 12:26:24 AM] Branden - StemCoin: he is asian
[10/12/2014 12:26:48 AM] Branden - StemCoin: it was originally his account but now we share it to post and make announcements
[10/12/2014 12:27:54 AM] degenorate: lol i was wondering if you maybe bought the account
[10/12/2014 12:34:45 AM] Branden - StemCoin: nah, that’s my partner in the project
[10/12/2014 12:34:54 AM] Branden - StemCoin: he actually introduced me to bitcoin
[10/12/2014 12:38:46 AM] Branden - StemCoin: I would make the announcement now but I am checking with this dev to see if he can implement SMS sending
[10/12/2014 12:39:04 AM] Branden - StemCoin: Because if he can I am going to add it to the road map graphic
[10/12/2014 12:41:53 AM] degenorate: how did you get in contact or meet your dev?
[10/12/2014 12:42:00 AM] degenorate: is he your chinese partner?
[10/12/2014 12:43:47 AM] Branden - StemCoin: he is here in the US we meet locally and became friends
[10/12/2014 12:44:07 AM] Branden - StemCoin: He is from China and he visits several different countries nearby
[10/12/2014 12:46:27 AM] degenorate: he will be the one doing the sms?
[10/12/2014 12:48:26 AM] Branden - StemCoin: no, I found a dev who was a supporter of Pesa with me
[10/12/2014 12:49:00 AM] Branden - StemCoin: He was going to do SMS for Pesa but dev of peas dissappeared
[10/12/2014 12:49:13 AM] Branden - StemCoin: I am waiting for his response, he is offline

Im out !!

I'm waiting my translation payment

Bitcointalk accounts are bought and sold all the time.  Being a Sr. member or higher gives you some (many times unwarranted) credibility.  I'm guessing this chinese guy decided to make a few bucks selling his account to our would-be scammer here.

For once, the scammer is the one losing BTC in this one.  He is out the cost of the account, ICO hosting fees on vaultex, and any bounties paid so far.

I don't mind a little gamble either, but people need to look into things a little deeper.  This may be a new account I am using at the moment, but I am not new to the scene.  I can't believe this thing make it as far as it did, and no no one thought to check out this guys old posts and put the pieces together.  Basic things like that so many around here neglect to do, and then whine they lost BTC.

Thanks for the feedback, we'll see about changing that (in regards to the 72hrs or more)

So now we are buying or hacking longterm crypto users accounts and saying its from a friend? (hope im wrong-but this crypto world doesnt surprise me one bit no more)

Although it does draw attention at first.. like my good friend above stated. (most) people will look twice and still be cautious!!

they wont be throwing btc at a coin without some proof of somesort.

some might who dont mind a little gamble.. and thats what keeps the (scam) ICO/IPO/ITO coins popping up.

I think scammers nowadays are underestimating the average BCT user.

There have been SOOOO many scams in the past 6 months that nearly all users on BCT have heightened awareness and know what to look for when it comes to detecting scams. The days were crypto investors would throw BTC's on a whim after seeing JUST a screenshot of a 'wallet' are long done.

With that said, I too have lost confidence in this coin. I can believe that the account may be shared..whatever benefit of the doubt. But what doesnt add up whatsoever is the fact that a team member who supposedly speaks & writes Chinese could not spend all of the 5 minutes to do the Chinese translation.

See, it's things like these that put up red flags. Do not underestimate the crypto community.

There is a reason that this ICO is not being escrowed  on Bittrex (No offense to VaultEx). But for VaultEx owners, I understand this is your first ICO escrow. I must admit, its not looking good. You guys aren't at fault, but when shit hits the fan later, I hope you guys will do the right thing...

Yes, I read you ICO policy. I noticed that you guys release funds 24hrs after end of ICO. That is a scammer's wet dream. 72hrs or more would be preferable.


Especially when the dev starts talking like this...you know something is up.

$1 per stemcoin? Really? Who's going to pump this...you?? Don't make any guarantees you cant keep.

This doesn't add up... good catch man.

Being a new exchange, coins looking to host an ico with us is well.. scarce.
We decided to take what we could, this being an agreement while stemcoin was still just mainly a concept and some words.

We trust CoinsSource and CryptoAsian for multiple reasons.
For CryptoAsian, this is because he is a respected part of the community (mainly around POD)
For coinssource, we've personally chatted with them, and trust them.

Again, if stemcoin fails to provide POD before the ico is over, we will refund all purchases, and destroy the coins.

Why wouldn't verifying this guys identity YOURSELF be a condition BEFORE the ICO even begins?  Why trust CoinsSource and CryptoAsian?  Why chose an obvious scam as the first ICO your exchange hosts?

Oh and there is plenty of sarcasm "flying" around in this thread but no rumors.  Simply logic, reason, and common sense.

In midst of all the sarcasm and rumors flying around this thread, I just want to remind everyone of vaultex's ico policy: https://www.vaultex.io/icopolicy
And the fact that we are in no way associated with the stemcoin developers

Yes, that makes sense.  Asking your friend to type what amounts to a few hundred words on a keyboard to help further the success of a project he is deeply involved in and actively working on is a hell of a burden.  He would have missed out on so much work coding in those 5 minutes.

But oh wait, you are getting verified by CoinsSource.  Awesome.  My mind is at ease knowing you will be paying a group of anonymous self-appointed crypto police to give you a thumbs up.

I'm sorry I ever doubted you.  After I buy the remaining 104.64 BTC of Stemcoin on vaultex, can I still donate more to the development fund?  I don't feel like 40,000$ is enough for all this hard work you are doing.

This is my part/job on the project, I did not want or feel the need to make him translate when he has other tasks on the project. I am sorry if this seems fishy to you. We will be CoinsSource verified very soon. I hope we can gain your trust.

If your friend is chinese and intimately involved in the project and has access to this account, why did you have to pay fox19891989 a translation bounty?  I mean, is your friend so busy on developing Stemcoin he couldn't spend 5 minutes to do it?

This is all fishy to me.  Pass.  Try harder next time.

Could be nice to have a countdown on op for the end of ICO

Hi guys, this account I am using is our co-project leader's account. He has been involved in crypto for awhile as you can see. He is asian this is why you see the Chinese in past posts. I am the one operating the thread through his account, which we agreed would be best to use, because this will show our reputation and commitment to the project. Therefore we decided to use his account. He is in charge of and more involved in coordinating the team and developers, while I am more of the promoter/marketer and announcer. Let me know if you have any questions. Thanks.

Would like answer too