They made claims like 120 BTC for tax payment , 50 BTC for shill allocation etc lol you can read more about their ridiculous claims here https://excc.co/project-update/ So, if the goal is to encourage adoption of decentralized alts/encourage better business practice in this space, then we should make it a point to confront/eradicate this dubious characters from the space.
Am sure someone will be quick to defend their terrible practice with a far worse practice like it makes the first one better. Or they will blame it on the fact the space is new and ppl are still trying figuring it out. By the way, its not hard to track a biz finance/spending on a platform utilizing blockchain.
So, i have nothing against the EXCC community but as a long term investor that care about the long term health of this project, i suggest that we insist on the admin releasing the financials for the project before moving forward. Since most of the money is blown, and a lot is dependent on the investors (like marketing etc) moving forward, then it only right that we make sure the current admins deserve to reap the benefit of those hard work/should be trusted with millions of fund in their care.
Quite frankly, the whole idea of decentralized/blockchain space was built on improving better business practice (i.e transparency) and encouraging adoption of DE alts to current central options. So, there is no reason to deny this or try to claim that since so and so company is also practicing bad practice and restricting info with the mass, that it should be accepted from this team. Accountability is key, cos they are trying to run an exchange which entails investors trusting them with the safety of their funds
Also, an account kept yelling about companies needing to make profit on discord, so i might as well address it immediately. Well, companies need to make financial profit, after they have performed the duties of a company and earned the profit over time. They shouldn't take a significant chunk of investor's money that was given to create something and put it their pocket under the guise of needing to make profit. If that is not the case, then show us the financials, cos we funded the entire project.
So, for those stating that its in the past and we should move on, should realize that those who are responsible for that past is still in charge and will reap the benefit of all that work. Also, they will be in control of millions of fund. So, if they refuse to release the financials or it shows that they grossly mismanaged funds and pocketed huge chunks of money for personal use, then we should seriously worry above having such characters in care of people's fund.
So, either we get some transparency from the admin and win some trust back, or i will keep this info in the forefront for the foreseeable future.
Again i have nothing against the EXCC community, i just need to make sure the individuals in charge, deserve to be there. Its best to push out dubious character from the beginning, that how you stop a quadrigaCX/coinsmarket from occurring.
Well, before you take any of the text seriously, you should go through these threads:
https://bitcointalksearch.org/topic/islapdonkey-scammer-blackmailer-and-extortionist-2779634 (Islapdonkey scammer, blackmailer and extortionist)
and
https://bitcointalksearch.org/topic/islapdonkey-blackmail-2571714 (Islapdonkey Blackmail)
Here's some feedback that this user has received:
Islapdonkey 2017-10-31 0.00000000 Take everything this guy says with a grain of salt. Continuous serial spammer in the forum, a tumor to bitcoin itself
Such drama.. Wink
Same reply from other thread
Quite sad, that you resulted to this, cos all it takes is just a little research. Just a little research will show that i have been exposing scammers on this forum for awhile and in attempt to discredit my account on this forum, this scam group starting creating threads with malicious info with my acct name attached to it. The admin of the site was made aware and post their research, all related accounts were flagged.
The ist link is from convery who dumped on his droxne investors and tried to repeat the same act with the same coin. My dealing with the guy is well documented on this thread with extensive proof to support my statement (https://bitcointalksearch.org/topic/m.24810549) even if you took the time to read the thread you posted, you will see the proof.
The second link is from a scam group that i have busted at least 20 of their scam attempt, even the account that posted the comment has multiple negative score related to there dealing with me in the past. All one need to do is do a minor research to easily discredit this post but it seem like every time i make a negative comment about a project, some genius tends to default on this, without realizing that it makes them look stupid to anyone who takes the time to read thru the thread. To see a detailed list of their scam attempts that i have busted, with extensive proof, you can visit this thread https://bitcointalksearch.org/topic/m.24385320
Also, am not even sure why you posted those thread, my guess is to discredit the guy talking negatively about your investment, without taking into account that am also heavily invested in the same project and my attempt is in the long term best interest of the project. You have a team that was given 650 btc (that's 2.5 million with this depreciated value) and they release an exchange that is subpar compared to what they promised and looks like it could easily be made with 50-100k. To make matters worse they gave some ridiculous claims for blowing the remaining funds. The same team, wants investors to trust them with the security of their fund.
All am asking for is accountability with the ICO fund, to make sure this team deserve to be entrusted with investors fund, and you try to use bullshit to make me out as the bad guy. Oh well, apart from the fact that all those post have been proven false by admins on this forum, the team already stated that they blew the entire fund, so you can't use the scammers favorite excuse that am doing all this to blackmail the team.
So, i will repeat this again for the vultures that only care about themselves, but this is bigger than me and you. This guys are trying to run an exchange which entails convincing people to entrust them with the care of huge amount of money, and till they can prove that they didn't grossly mismanage the funds that were already given to them, they don't deserve more funds entrusted to them.
And don't try to explain away their bad behavior with far worse behavior like it makes it better or claim that this is a new space, so its hard to take account of fund in a blockchain platform. Everyone is trying to make a profit, but some things are bigger than your selfish yearn. By identifying and eliminating dubious practices in the space, we prevent another coinmarket, quadrigacx etc.