Bitcoin Forum

What happened:
I was a participant of LiveTree - ADEPT bounty campaign. I sent about 700 post in 22 weeks according the rules. Weekly campaign rates are below:


I’ve earned $22,050 at the end of campaign. They sent me 36425,4287 SED tokens that is equal
$4.200. (1 ETH = 6,071 SED, 1 ETH = $700)

Scammer Profile Link:
Campaign manager: Sylon, https://bitcointalk.org/index.php?action=profile;u=112240
CEO of Livetree: Ashley.Livetree, https://bitcointalk.org/index.php?action=profile;u=1203211

Reference Link: https://bitcointalk.org/index.php?topic=2322644.0

Amount Scammed: $22,050 (overall $1,085,840)

Payment Method: Personal effort

Proof of payment:
Line 57 on https://docs.google.com/spreadsheets/d/1aggPcVvuYU1jJ9P4BSFf7czri2RqWqc1Q7VegnnENHA/edit#gid=2080230004

Additional Notes:
Livetree is in the film industry. Their job is Right Management. I think, they can not manage any rights. There are 289 participants in the campaign. They have distributed $208,800 instead of $1,085,840. The campaign manager is ignore all participants’s questions.

https://bitcointalk.org/index.php?topic=2322644.msg36329264#msg36329264
https://bitcointalk.org/index.php?topic=2322644.msg36395106#msg36395106
https://bitcointalk.org/index.php?topic=2322644.msg36703894#msg36703894

I’ve talked Ash and Lennard from Livetree. They didn’t offer any solution. And they have banned me from Telegram Channel.

And I just wonder, did Sylon get exact amount on the contract signed between Livertree and him. If he didn’t get, I am going to remove red trust from his profile.

Buy-back guarantee violation:
The buy-back price guaranteed at 1000 SED = 1ETH from day 1.
Right now buy-back price is 6071 SED = 1ETH



https://i.imgur.com/lcyT0jK.jpg?3

Only SED’s price is changed. It is not related to the campaign rates.
Campaign rules are clear, and the rates are based on USD. And the rates have not changed during the campaign. Please check this:

http://archive.is/e8Onz

Also, buy-back guarantee has not changed during the campaign. BTW, what is "guarantee” means? Please check this:

http://archive.is/e8Onz

Dear Livetree.Adept,

Which part of the opening post didn’t you get? I accept your new ratios. This is your decision. I don't care about it and there is no problem for me. I said, you haven't sent me correct reward. Also you haven’t sent others promised reward. And you or Sylon scammed us.

Let me calculate my bounty rewards for you step by step.

1.I’ve earned $22,050 at the end of the campaign. Please check the spreadsheet.

2. $22,050 = 32.42 ETH.

3. If you want to use pre-sale ratio for bounty distribution, 32.42 ETH = 393.722 SED.

4. If you want to use main-sale ratio for bounty distribution,  32.42 ETH = 196.861SED.

Is there any mistake above?

Just tell me, why did you send me 36,425.4287 SED

I've checked the ratio numbers. Actually, you may not be a scammer. I think, your team didn't take the math class ever.

If during the pre-sale ratio is "1 SED = 0.0000165”, 1 eth is not equal 12,142 SED. You can buy 60,710 SED via 1 ETH. So you have to pay for me 1.968.218 SED.

What a shame...

Fairly obvious it's a copy error in the CS doc, thanks for pointing that out. Fixed. Here you go:

Livetree.Adept, care explaining clearly why BTCHakan only gained 36k SED, and how that is equal to $22050 USD? You seem to be pretty obviously in the wrong here, so I'm not sure what I'm missing. Even using ETH's ATH price of $1400, he would be owed 95k SED. I fail to see how 36k SED is at all close to what was promised.

I have similar situation, and I got even less tokens, I took part in this long campaign from the beginning..
I just had no time to focus on this..
There is still small chance that the LiveTree will organize Buy-Back and at least participants will get few bucks)
Some other projects vanish completely, and they at least try to do or imitate the activities
But probably you are right to make this post, so other will know that it's better not to work with these people in future

It has come to a point that something lingers on every mind, how are the admin of this in project are going to buy back those coins. We don't know exactly their purpose and intensions of deciding to buy this back, are they having plans of putting this to other biggest exchange or making the sed token value price dump prior being listed to the trading site. You're certain there will be a possibility that it will be vanish completely, and if people will not realize their strategy I think this token will come to an end as dead coin. Hopefully it won't because this project has a great potential to gain its price.

22050$ / 700(ethereum price) = 31.5 ETH *6071 = 191236 tokens SED BTCHakan should get such amount

I also participated in the Livetree campaign and earned 13325 stakes ($) which were converted to 22012 tokens.
Now, in their calculations, all for some reason use the current rate (1 ETH=~700$) forgetting that the same rate of ETH rose to ~1500$ and dropped to ~380$. Bitcoin is the same. Based on your logic, then you need to evaluate each purchase of tokens by investors based on the current rate of what is fundamentally wrong.
Everyone forgets that one of the main conditions for the payment of bounty awards was: "Note': Bounty is only available after the min. raise has been met which is approx. $1.5 m".
From official information: "The total raise was 1127.52868 ETH and 60.05277671 BTC."
Consider the current rate (based on your logic):
1128ETH*713$=804264$
60 BTC*8511$=510660$
510660+804264=1314500$ rounding
That is, the condition for the payment of 1.5 M is not achieved!!!
Team Livetree went to meet the participants of the bounty and paid tokens (even if not as much as we wanted); the team does not abandon the BB.

Although I do not like the rate of repurchase but I understand that it can not be lower than the price paid by investors for their tokens.
But if there are improvements for the participants of the bounty I'm IN!
IMHO

Even though the rate per 1 SED is changed retrospectively but bounty amount offered in terms of dollars and not in terms of no of SED tokens

This means Dollar value is fixed and no of SED tokens is Variable element.

If the rate per 1 SED is changed retrospectively then bounty workers also need to receive their bounty with the same rate as what offered to investors.

For example If a bounty worker is need to receive reward for his work is 4000$ worth of SED tokens then as per the previous rates like 1000 SED = 1 ETH, the bounty worker has to receive 4000 or more as per ETH rates in force.

If the rates has been changed retrospectively like 1 ETH = 6071 SED means, in the above example the bounty worker is eligible to receive more than 24000 SED.

But in our case Live tree distributed SED tokens to us with old rates and they need to distribute the remaining tokens to us with new rates.

This should be done because they mentioned the change is with retrospective effect.

I don’t believe they have contributed $1314500.

Please check the news:

LONDON, March 22, 2018 /PRNewswire/ --
LiveTree, the world's first blockchain-powered, end-to-end production and distribution platform for TV and film - has raised over $11m and counting from their token sale.
Source: https://www.prnewswire.com/news-releases/livetrees-ico-raises-over-11m-in-token-sale-so-far-677632883.html

Please check the ice status captured from livetree.com

20 days to ice end: https://imgur.com/1xYHnTV
19 days to ice end: https://imgur.com/lCKvRDZ
5 days to ice end:  https://imgur.com/yGe27Av

If really $1314500 contributed, they have lied to us for all the ico process.

https://i.imgur.com/1xYHnTV.jpg?1

I participated in LiveTree signature campaign for 21 weeks and earned $ 20090.
As a result, received only 33 187.61 SED. Full disappointment after such recalculation for a halfyear work.

Open bounty-topic and read:
"You will receive 1.75% of all SED tokens, based on your number of stakes."
You in their arguments rely on the fact that LiveTree have already received funds from the declared investors (3+10M $) but according to the statement of the LiveTree is not so. You can count on the award only from the total number of tokens (and it is better from the sold tokens). That is, only from the funds that are visible on the wallets (ETH+BTC).
A screenshot of the progress status is a "little trick" to attract other investors.

I repeat that I am neutral on this issue.

so you are saying that they have not received yet that 3+10M $ from the investors?

Please read this https://bitcointalk.org/index.php?topic=2322644.msg36320102#msg36320102 (https://bitcointalk.org/index.php?topic=2322644.msg36320102#msg36320102)
We have yet to receive any funds from the underwriters. We are still in talks and are working diligently to progress the matter and seek alternatives, if necessary.

"Hard cap of the ico is 20m $ and bounty budget is %1.75 so it means 350k worth of tokens in case of hard cap.

%40 allocated to signature 140k worth.

And i just checked sylon gave more than 1.2m $ worth sed tokens to signature participants."



I posted this on bounty thread and sylon never make an explantion for this.

So 1.75% of the all tokens and not some amount of hardcap($). Where your assumptions and mathematics?

Yes. I am also very disappointed with what the Livetree did. I've been working for five months, but not paid. They are looking for an excuse not to pay for my work.
They also remove the stakes to eliminate evidence of the results I have done. It's a less ethical way to me.
And what they have paid is also not in accordance with what is promised. The Livetree team does a lot of scams.

well, but why they will not pay when they will receive that funds?

Rewards based on USD does not make sense until they escrow enough tokens to bounty managers.
Their standart argument is we couldn't raise enough money to give rewards due bearish market.
What a shame.

If you cannot calculate bounty pool size and total rewards so why you are trying to manage a million dollars company?
You cannot manage a million dollar company with that math knowledge. Go to primary school back and study more.

Bounty hunters don't fall into USD rewards and fixed reward pools unless they escrow enough tokens.
They are both scammers and forum moderators do not take action against them. (This is the biggest question here)

Check Dictionary "Scam" and you will see exact description shows that livetree and sylon are both responsible for this situation.
They are both scammers until they pay what they promise.

My friend participated in the bounty campaign for two months but quit in the middle of it.
He noticed the Livetree ICO didn't go well, and their promise couldn't be kept.
Obviously he is right.

So what do you think will there be any exchange?
I think even if it will, so many angry people will dump the tokens at low price, so price might be very low...

well, i think that people will prefer to have what they think is right and face the risk of a dump, than the opposite..

I agree with this, but I was asking if somebody believes the exchange (bounty buy back) will happen?
I think it won't happen as if the LiveTree team would want to do it - why not to do it already?
There are lots of ways to do it

mmmm i think that they don't have the possibility right now...

But even before the end of ICO they announced some big partnerships
If all the money were spent for lambos, then yes they might not have possibility))
But at the least they sent some tokens... it could have been worse, they could disappear completely

Do you know some of these big partnerships? "big" means..."big". I'm curios right now..
Anyway I don't think that they want to scam us in that way! I'm pretty sure they are still working hard in the project.

Thanks for your advise. I think, the team didn't take the math class ever.

I just learn that there's scam accusation with Livetree like I see this as a potential one yet they did this. It seems even a good one now can scam their participants in the sake of money. And another bad image again for Sylon huh yet too sad for hearing this tho.

Same has happened also to my friend it's not with Sylon but with Hua_hui or Hui_hui, the award for Jr. Member is $50 per week worth of token,the campaign was four weeks =$200 after completing it, but after the token distribution and the token was registered on a certain exchange the value only of his token was $. 000159104 and since then the value never move... Even with the crashed I thought at least $30-$50 was supposed to be the value....

You can check these "big" partnerships in the ANN thread if they didn't delete links
I don't know if they are working - I hope so, if somebody knows more - you can share the links here

I can't seem to find now on their webpage about the Bounties-Buyback. I guess we all got USED by this project. Glad i only participated only for a week.