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Title: Dan admits to buying BlockNET tokens with XC premine. Post by: UnicornFarts on November 01, 2014, 09:10:01 PM Quote We spoke to Dan Metcalf on Skype about the situation. He was quick to point out that XC has been funded mostly with his own money and confirmed that a general summary of how the funds were spent will be forthcoming. 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. Quote 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, 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 P.S. Due to trolling (postings tons of white space, etc) from XC people this is self moderated. Feel free to call me the spawn of satan & I won't censor you. Make it difficult to sift thru information by spamming and I will. Also I apologize for ANOTHER XC/Blocknet thread. I just felt this needed it's own thread with a proper title. In light of exchanges thinking about undoing the blocknet we need to get this all out in the open, dealt with so people can get their money back and move on. I'm trying to get that done sooner rather than later. Title: Re: Dan admits to buying BlockNET tokens with premine. Post by: BitcoiNaked on November 01, 2014, 09:11:39 PM Competitors don't like blocknet, ok we got it, btw nice quark promotion there on the link i like it
Title: Re: Dan admits to buying BlockNET tokens with premine. Post by: UnicornFarts on November 01, 2014, 09:13:50 PM Competitors don't like blocknet, ok we got it Great you ask. I would LOVE to see competition to the SuperNET (which I think is stupid hubaloo over basically exchanges built into wallets) that wasn't an ICO. I hold a few vertcoins, a few boolberries/moneros (cuz I like cryptonote) and a bitcoin or two. That's the sum total of my holdings. I'm not motivated by being threatened. And the other people on here for the most part aren't either. They are tired of your snake oiled salesmen raping noobs. If XC had wanted to open source before trying to raise a million dollars I would have had less of a problem. The closed sourced shit you've got doesn't even work right on Mac/Linux (even though you've sold tor sticks). Title: Re: Dan admits to buying BlockNET tokens with premine. Post by: BanditryAndLoot on November 01, 2014, 09:15:12 PM Cross post ..
Quote We spoke to Dan Metcalf on Skype about the situation. He was quick to point out that XC has been funded mostly with his own money and confirmed that a general summary of how the funds were spent will be forthcoming. 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. Quote 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, 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 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? Title: Re: Dan admits to buying BlockNET tokens with premine. Post by: UnicornFarts on November 01, 2014, 09:16:38 PM Quote Where's the open ledger showing their funds? There's not one. Title: [NEWS] Blocknet-Gate Scandal - The Summary (moderated) Post by: Spoetnik on November 01, 2014, 09:28:02 PM Quote Where's the open ledger showing their funds? There's not one. Thanks for the info interesting for sure ! i already added your topic link to my summary page of all Blocknet-gate scandal topics.. [NEWS] Blocknet-Gate Scandal - The Summary (moderated) (https://bitcointalk.org/index.php?topic=842782.msg9400854#msg9400854) i just need to add that new info in there somewhere too and i am also adding that there is NO ledger. things just keep getting worse and worse for them LOL Don't fall for the Blocknet "ponzi-platform" scam guys and demand a refund ASAP before it's too late ! |