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I sadly missed this ICO when it was running.

I like reading through the thread though because these guys seem rather open with their scam/non scam considering their id's are well known?

Did this guy really take 1.2M promising the ico investors one project then just use those funds to develop another project entirely for himself?

Or will this new paykey project benefit the getgemz investors?

If the ICO funds were not used in anyway to fund this new project where are the funds? is this telegram rebrand all you get now a days for 1.2M in an ICO?

The thread seems a mishmash of opinions? Is there a clear story here with the full facts?

Who is this Daniel I've heard mentioned? surely if his id is known he wouldn't really care to screw over so many people whilst telling them all about his new project that is looking far more successful and apparently funded by the ico investors who will not stand to benefit at all? or will they?

Very interesting project so far.

If IPO = 1 then
MsgBox "Scam=Yes"
Else if IPO = 0 then
MsgBox "Scam=No"
end

Daniel started promoting GEMZ all over the place during the ICO. He was in the forum everyday and did interviews on Letstalkbitcoin. Now we don't hear a peep from him. That says a lot.

So what will the ICO investors do about this? I mean if his real ID is known and paykey actually does become something worthwhile.... lawyers like cases like these surely.

Interesting question.  Do these people just get away with it?

I usually gauge a scam based on developer info.  Who are they and do they actively communicate.

oh  no now the gemz thread seems to have been locked and polo are delisting it?

Seems another ICO scam bites the dust ... but will anyone be held accountable?

Who was heading up that brand of scam?

There was rumours that the getgemz app was getting huge mobile app downloads, it seems it was completely faked however.

This one only has 2k https://play.google.com/store/apps/details?id=org.getgemsmessenger.app

Seems like they gave no attempt to market the platform.

Yeah makes you wonder. I mean essentially the investors paid 1.6 million dollars for ....well ..not much.

Seems that funding was diverted off to his own private project. I'm hoping that becomes a large success so there is a big incentive for legal measures to be taken against them.

Another reason ALL ico funds should be held by escrows and released to them gradually as milestones are reached.

Escrow is definately needed, we need more people to vet the projects. I try my best, general rule I have now is that it is not to be trusted if it's not on my site.

Where is Daniel come from? If he comes from a developed country then you could easily file a lawsuit. Or class action lawsuit when more investors want to follow you. 1.2 million is much money, so there will be good chance to get money back.

I'm not 100% sure but I think israel. I just can't believe there is not more being said about that scam. It is up there with the biggest on this board so far.

I think its founders started the project with good intentions. But seeing GetGemz that it's going nowhere and no idea how to compete with other mobile apps effectively, I think they decided to go to another direction with what money they have left from the ICO. They are desperate.

Daniel has been for me the biggest asshole in crypto. I've lost a ton of money and time but more important I trusted the things that were susposed to make this a trustworthy project including traded third parties doing the ICO, registered as a company, names and address given.....but no, even legal projects can be absolute scammers at heart.....and do so legally....they are the worst cause they create trust and legally scam you and tell you it's raining while pissing down your leg....THe guy studied business law.....it should of rang an alarm bell.

Cookie for the day, good sir.

I love it here.


Never mind, you have to share with roach.

Correction: It has >2,000 reviews. The total installs are somewhere between 10,000 and 50,000. See the bottom of the page. :)

I'm pretty sure something could be done about him and his team of scammers. If they really believe it costs over a million dollars to produce that telegram rebranded app then that is ludicrous. They have obviously took the IPO funds and used  it for their other project.

I hope the get gems ipo investors and anyone else involved with get gemz will keep a close eye on the other projects and see if you can find lawyer somewhere to go after these turds. It currently looks like one of the worst scams on here and that is saying something.

Remember Tom from Koinify?

The guy who "vetted" Daniel and his team in Israel before the ICO?

Nice how he vigilantly protected the community's best interests, even after going out of business.

That final milestone had 1 out of 3 conditions met. Good enough, I guess...

GEMZ now down to 313 satoshis, if anyone cares. The coming delisting's whacked ~80% off its already-well-below-ICO price.

gemz is done, nice scam asshole dev, he abandoned the project months ago.

Very sad to read about this that basically confirms is all a controlled scam. Shitcoins are not what they used to be where you could spot a scam miles away. If a "serious" project like GEMZ (with real developers, apps, etc) can fall like this almost no other ones are safe. So be careful to throw your hard earned money into whatever new idea or ICO is trending, we all know it's bullshit unless you are Ethereum or something (for now of course, I trust them because the exposure is really nothing compared to others but who knows down the road).

I mean the project can fail like it can be argued in this case, the problem is that there are some proof that it was abandoned for another (funded with what exactly?) and there were promises made for investors...

I started receiving personal attacks from David, the guy that's seemingly in charge of GG now.

Yesterday, he hinted that he had accessed my wallet data, saying that I had lied to everyone about the status of my coins.

And today I received the “can I call you by your real name” thinly-veiled dox threat.

They closed the BTT thread in favor of their General Discussion chatroom. Then they closed that for an invite-only QA format room.

Contain, contain, contain.

GetGems is looks good when you see this video at ICO/IPO phase.

vimeo.com/113243665 (http://vimeo.com/113243665)

What you see is too many gaps in between current out come and what they proposed at the videos and here.

It may not appropriate to say its SCAM but obviously, the out come is far beyond and we see unforeseen future only.

I believe if dev team want to do business with BANKS, lack of transparency is subject to terminating business with bank without a question.

So, I would like to encourage GG dev team become more open to us. They may receive strong challenges (not FUD) but should make up for.

I will be watching this thread cause no place to discuss about GG for a moment. ;)

closing their thread was the worst thing they could do. It just indicates they have no intentions of furthering their project of rebranding telegram for over 1 million dollars. They syphoned the funds to their new project and need to be held accountable. They don't realise this will certainly come back to haunt them in the future.

 

That's definitely seems to be the case, I'm sad to hear about all the BTC/USD that went and still goes into projects like this. Many start with good intentions but it seems that only a handful end up not being a "scam" or a controlled failure which is the same fate for investors.

Since them closing their thread though hoping it would kill off all interest and they could sneak away. It has spawned many new threads popping up and the entire scam getting greater coverage.

Finishing the milestones = mission complete.

They don't have to deliver anything more in the future.

They don't have to communicate with anyone.

They just need to put a lid on any bad press until they've secured funding for PayKey.

They've done that by herding the tiny group of remaining ICO holders into a low-key chatroom, where Daniel's "advisor" can discreetly manage their emotions.

The rest of us are branded as toxic FUD spreaders, who've just somehow predicted this mess many months earlier.

Facts uncovering deceit.

The bad press will follow them and PAYKEY around forever. People just need to be motivated to not let them get away with it.

anyone invited? and conversation started?

Last thing I saw posted in General Discussion was a copy/paste of the QA. So it's definitely happening.

In other news, June 3 arrived.

Looks like 2.1m gemz still on Polo. Not everyone got the message...

Is there any good news to gg and paykey that makes happy ICO Gems's holder? 8)

I've been bit away to watch to GetGems and would like to get some some updates.

Supporting multi-currency including fiat yet?

Any success of PayKey with THE BANKS?

Or David is just defending only without any updates AS USUAL???

Day by day, investors may forget about GetGems but I will not. As people said for may and long time, GetGems is far beyond what they promoted at ICO stage. But very much suspect of investors resource is routed to Paykey that the investors can not stand.

If it's untouched for long, that's an unforgivable degree that the investors should gather to officially claim to them.



 

All i remember hearing is shitloads of topics here on the mobile wallet.
Someone was hell bent on posting that it had the most users or something.

Whats to know ?
ICO = SCAM
..you just figure that out now people ?

Look !

You gave some guy a million dollars so he could spend it on what ever the fuck he wants.
And now you are complaining ? and still willing to forgive him ? hahahhahah  :D  :D  :D

WELCOME TO CRYPTO IDIOTS

maybe try and learn a lesson  ::)
Not like this hasn't been done before.. BlockNET ring a bell ?

So what Daniel or ...now... David the "Community Take over" guy has your money ? ROFL

ahhhh GREED  :D

You GO Investards get your ROI on !!!11111

GG IDIOTS ..you were PWNED

Be nice to see paykey take off big time then it all gets pulled from under him since he funded it with gemz money.

Total scammer. Hopefully those that got burned large will take a gamble on getting it all back with interest if paykey takes off at all.

I'm pretty sure I was one of the biggest losers in getgems, I owned about 1% of the coins. It was my whole crypto investment. But before you go telling everyone they are an idiot remember it looked nothing like the usual scam. He wasn't anonymous, he registered as a limited company, he was one of first to use the company that was susposed do to do fair launches i.e. koinify. There was no reason to think it was a con....and it wasn't actually a con it was a guy promising something and not delivering anything like his promises. I think the idea is great, messaging and sending crypto. Thing is I think Daniel thought it was great too but as things developed he got the sniff of bigger bank money and took the core of Getgems i.e. Sending money with the blockchain and decided the getgems project was going no where. Do I know if he intentionally did this and had it in mind at the start, I'm not sure. He quite possibly did or it was something that came up in the journey. Either way he is an asshole who stole money from me and if there is ever any legal way to strangle this guy economically I will. I personally think paykey is bullshit anyway. The guy will get what's coming to him soon enough I'm sure.

Well that's the issue here, startups don't always succeed, is actually the other way around, most are destined to fail. Most investors are aware of this but this is different, I didn't follow much of how it all unravel but from what I read there was no actual explanation or words from the "team". It seems like a controlled, quiet demolition and exit strategy. Especially the Paykey stuff.

If GetGems would release how they expend the whole ICO investment and call it a day, I don't think anybody could complain, it just didn't work. But that's far from the current situation.

It's not a start-up and these are not business's and you are not trading penny stocks.
So quit talking like you are.. THAT is why i call you idiots.
You all shoe horn some other concept into Crypto even if it is not applicable..
So you can MAKE MONEY OFF IT.
Like you just said..

Reality time Kidiots.
I have told you a million times a persons ID verified means absolutely fuck all.
Need proof ? See mark or Paul .. or BlockNET like i just said ..again and again.. and again.

I will tell each and every one of you dumb fucks here if i get a guarantee of 1 million in Bitcoin
i will gladly Fed-Ex my picture ID to your house give you all my finger prints and a photo of my asshole.
if that is all it takes to WIN THE LOTTERY ..then guess the fuck what morons ?
There is a billion people on earth lined up ready to take the cash !
From Altcorn suckers  :D

ICO = SCAM

Fuckin' deal with it.

You can't raise the exception flag because it's an unfair method of distribution etc.
It's simply WRONG !
The fact that there is *possible* exceptions to the rule you all try and claim does not invalidate the assertion.
Sorry.. but it don't.

This is not the US stock exchange and you are not trading "Penny Stocks" in a regulated market.

And guy.. of course the project changed from it's start.. THEY ALL DO !
Look at how many coins are ICO'd or launched mined as a shell of a project then it's all modded later.
I warned you all for years about common sense..
In other words the cliche'd method of launching a dummy hollow project with lofty goals.
What happens is no one cares and they are historically ignored.
Dark Coin comes to mind.. no one gave two shits about it's launch until way later..
AFTER the early guys were mining the fuck out of it etc.
Guys have been doing that in Crypto for years.. it's an OLD technique !

Ethereum ring a bell ?
90% of the ETH blow hard's around here had no idea AND STILL don't know it came out in 2014.
They only know because i alone am the only guy who brings it up.
And what did we see on the SCAM topic i created on ETH in 2014 ?
..scroll up ;)
On page 1 comment #3 we seen user reports that someone rich with LOTS of money was buying massive huge amounts of coins.. in blocks of 100 BTC worth at a time on and on and on and on..
This obviously freaked people out and they avoided it for 2 years !
..no problem
All you have to do is sit on them and wait until a new crop of IDIOTS show up here dumber and more greedy than the last generation.. and they will gladly buy into them at ANY PRICE in the hopes of turning a small greedy corrupt profit.. while they play naive about it all.
With ETH ..you all made them rich !
Look at the market history on it at Coinmarketcap.. it only starts at AUG 2015 were it sat at 8 bucks a coin for a year with no trade activity.. anyone notice ?
NOPE ..i am the first person to ever say that .. ever.
Because you are fucking idiots.. and really to be blunt you don't care.
You are naive on purpose and only bitch & moan when you lose money on your "Investment"

I don't see any of you doing your homework before hand and saying yeah this is scammy and here is why and yeah i could make a killing but i will avid this.
Nope.. you are greedy little vultures.

cash out ..play dumb ..cry FUD for bucks $$$
When it's proven a scam then wander around looking for sympathy..
Well sorry you are not going to get any from me.

In a twisted way i applaud the scammers for pwn'ing your ass's
You deserve it because you guys never learn.

You are all STILL here and you are just gong to do it again  ::)

You can't just say all ICO's are a scam....its a retarded view not worth responding to why its wrong.

Getgems because they were a registered company I still say there is potential for litigation. If any company promised a product and didnt deliver then I'm sure the law wouldn't be too friendly. Problem is Daniel was a law graduate and I think had the whole thing sewn up from the start with all the small print saying tokens gave you no rights etc.  What annoys me is they didnt deliver the main thing ie the attention economy, they just opened a friken messenger group. sigh

My point is they should never of released the funds to Getgems because they didnt achieve the milestone of making the AE platform. Only a friekn idiot would let them get away with saying a messnegr group is an AE platform. So by law i think they should give back that milestone equally to all those who invested. Anyone know a lawyer?

The only hope is if paykey takes off then there will be sharks circling around waiting to take a bite.

http://m.imgur.com/a/NJnmv

http://m.imgur.com/a/06oV6

PayKey's banking partners should learn where Daniel stole his money from.

They might think twice about doing business with him.

Await the success of paykey them put the thumbscrews on. Or contact him now and say a bunch of investors are thinking to have a talk to his banking partners.

Yup i agree this should be looked into.. anyone have the contact info ?

PS:
I never seen a legit ICO ever.
And i have given a huge pile of reasons why they are ALL scammy.
The fact you all NEED to make money does not make them legit.

Don't even bother crying decentralization then carrying on defending a 100% premined scam coin concept.
That would make you fucking hypocritical idiots.

This is not Kickstarter with their own set of rules.

This is not the Stock Market where you are trading stocks either.
Who in Crypto did time for insider trading ? no one ..ever.

Your cloned and slightly modded GPL open source code on a centralized gov controlled server called Github is not a company using an ICO for company funds either.

If you defend ICO's then you are scammy.
It makes you full of shit and a greedy silly little hypocrite.

Often I hear Daniel graduated from law firm that he should well prepared.

Does't matter in business world.

He must see his credibility straight forward that typical business runs based on "trust" and if he want to deal with THE BANKS, lack of transparency is meaning of termination of business with THE BANKS. Oh yes, particularly for THE BANKS. THE BANKS got to be respect to local regulations such as FISC in Japan. When THE BANKS recognize the registered company of GG has lack of transparency, moreover, most likely a SCAM, THE BANKS will silently withdraw business with Daniel.

Even Daniel (or David) shut down the GG OP, they can not escape. It will be even an evidence that Daniel and his company are very closed and smelly corporation which not suite to THE BANKS's reputation.

I am not crying that GG crypto become worthless coin. However, I can not just stand that such Daniel-like  business is still free in this crypt market although this community is contributing to cutting edge technologies - big potential to our further social society.

In short, if Daniel and his troopers keep silence to escape, we better act to Daniels's business partner/customer of THE BANKS what we concerns which will be same concern to THE BANKS.

We do not have tell them a lot. Just little facts are enough.

Or, may be somebody has already done - paykey.com site is no updates for long already, I have not.  8)



   

Actually, the site has just had an update: they removed Senior Advisor David R Allen from the staff page.

This is the same guy whose primary role in Getgems was to manipulate investors into thinking that everything was going great with the company. And after the coin went bust, continued to spread misinformation for months to stop people from learning the truth.

David R Allen hadn't been seen in Getgems channels for several months... until a user today spotted him trolling under a different account.

He's allegedly now using the name/photo of the dog that can be seen in his personal youtube account.

https://www.youtube.com/user/DramaGoof
 
Some artwork to mark the occasion ;)

http://imgur.com/a/cb0UC

Good to see some people are on this.

These guys were crazy to try to scam 1.2m when their real ids are known. They are basically tainted forever. I hope some who got stung bad will never let it drop. 

Like so many scams, GG likely started with honest intentions.

But once $1.2mil hit Daniel Peled's pocket, he quickly redefined his commitments to massively downgrade the product he had promised.

This allowed him to transfer the bulk of his money, time and resources to PayKey.

By forming at least 3 companies (DMA, Getgems, PayKey), dragging things out over years, and tasking David R Allen to spread misinformation while he conveniently goes AWOL, Daniel has essentially gotten away with this scam.

One can only hope that PayKey's banking partners are aware that it was funded with stolen money.

Agreed about the initial intentions.. which is why ICO's should not be used.
get it ?

They wont care... banks don't care until things go public. However, if this scandal was well covered in a few crytpo mags after paykey or any of this scammers other shit takes off big time. Then you will find he could become a pariah. This is the best you can hope for. Unless some lawyer smells blood and goes after him. Good though to see this is not being forgotten and this scammer is not totally out of the woods as yet. Great to see him and his kind brought to justice. Getgmz should still go down as a sizable scam in crypto that shouldn't be forgotten.

https://www.paykey.com/#/team

Daniel doubled the size of his company.

Looking thru social media, it looks like he went on a hiring spree this summer.

But kept it a secret until election day.

Coincidental timing, I'm sure...

hahahaha, good rule Alex. I met the guy about a year ago what he told me is that they are "pivoting" into paykey so i think the entity that controls, or received the coins, is still connected to the original supporters. But it kinda sucks that he went dark like that. I find it ironic though that anonymity is so prized until shit goes down and then everyone wants to know who you are. There are a core group of guys that are now putting out some really good ICO rating briefs that are really helpful, and it seems like there is a standard model being organically formulated. I for one would like to see vesting, and some sort of "social contract" with the investors so there is more incentive to see a project through or be transparent with the reporting. I think people are ok when things don't work out. They just wanna be kepp in the loop and not dodged.

interesting ...perhaps he will be reopening the getgemz thread and bringing this new team back to work on this project?

If not why not?  where did he get the funds to hire this new team? getgemz ico funds?

PayKey CTO Markovich Offer explained the situation in chat last month:

Getgems' $800k was a reward for "completing" the milestones.

The money was not actually intended for GG's development/operating costs; it was simply a payment for work completed.

The ongoing costs of GG were to be met by revenue from the Attention Economy.

Since the reinterpretation of the AE (ad channel) has proven to be a complete failure, the project cannot pay for itself.

Thus, the project is on life-support.

....

We can summarize the scam quite easily now:

1. Present the funds as a reward.

2. After funding, redefine the conditions to make the reward vastly easier to collect.

3. Keep most of the reward as income, rather then spend it on the project.

4. Move company resources to a different project where the reward is ultimately spent.

 

Even if they squeeze out it legally (which hopefully they wont if paykey takes off and becomes large enough to entice some legal firm to take a shot at them using gg funds for their new project) it is possible here to hound them and give them enough bad press that you can cause some damage to their new project. Either way they should not be allowed to provide such a blatant rip off/modification of already existing software for 1.2 M dollars.

Also i notice many of the main shills for this coin have gone quiet. I would hope they are not complicit and dumped out before the end came. Makes you wonder why they are not more bothered by this since apparently they had most of their crypto portfolio tied up in this scam.

I'll gladly send anyone my real ID info if they send me 1.2 million dollars.
That is definitely enough money to move somewhere and start a new life.
Feel free to send Bitcoins to:
1QBFfxcpBSvzvtTFwu2uRV71Y3ENSV5oG4

The scam is like a giant filter, working its way through a bellcurve of intelligence.

Out of 1250 ICO buyers, the smart and rational got out early; the naive and deluded held until the end.

I suspect most of the diehard loyalists were real investors. (I've also chatted with many of them in the app.)

They defended the scam mostly by attacking its critics. That's all they could do, since the app was clearly terrible.

Most scam victims feel shame, not anger, and that's exactly what scammers count on to make their escape.  

It doesn't surprise me then that perhaps only 1-2 loyalists have reversed their support publicly, and none after the coin delisting.

Adding to this, Daniel tasked David R Allen to spread misinformation in the wake of GG's demise.

That is, David's sole job was to manipulate the folks at the very bottom end of this bellcurve. Not a particularly challenging job...

Although that is more than likely very true. This thread and others like it should be kept alive so that we do not forget these scammers and hopefully at some point in the future all obvious scammers like Daniel will be brought to justice.

It would be a great shame for people to forget and move on fully allowing these people to get away with it entirely.

Any new information that comes to light as to what he is doing now with the ICO funds should be added here for others to read about.

I wonder if there is any advancement with paykey?

Any update on this?

Too bad GetGems didn't work out. The concept had elements that remain valid and interesting. I'm certain it wasn't intended as a scam. However, once it began to fail, there was a troubling lack of transparency and very possibly a major conflict of interest.

Intended as a scam or otherwise there is clear precedence for legal action. Throughout the initial  development of Paykey Daniel Pelegrín issued statements saying that Paykey was developed by GetGems. Perhaps I am jumping the gun and GetGems adopters will be rewarded on launch of Paykey. Paykey is still under development after all.

Isreal devs are always scammers, getgems, 1.2M usd, AMP synereo, scammed 5M usd. Investors are noobs.

seems one of the getgemz group is back with

coindash ICO ....

The truth is these guys knew exactly what they were doing. They made every legal point work for them. That's why they made some huge worded disclaimer about what tokens are.....and the big thing they aren't is any claim on the company. Token are a very narrow product, they knew that.

The lesson to learn of if you ever hear of a token sale....run a mile, a token doesn't mean you own anything and can move on and make your token obsolete anytime they want. That's why this Israeli guy is doing another token sale on his trading platform sale. If successful you know he will charge people or get banks seed money etc. Token holders will be frozen out.

Also don't trust coins that seek seed capital, it looks great, free money right? But it always comes at the price of handing over something to them. Ripple is bullshit, go make money trading it, but it's not crypto, it's banks using crypto to do the same shit they always do, screw everyone.

If I was king I would hang them....but I'm not.

This is why I respect XEM... Huge free distribution and some additional distribution that didn't cost much. The team continued to work on it despite languishing prices for a long time and plenty of people had time to get in low so you can't really call it a premined scam.

It's as good as ripe but not centrally controlled with huge supply lockups.

Never been a huge fan of NEM, I got a stake and sold it like an idiot doh! I never liked the equality ideas that bordered on communism from the first developer that eventually got caught scamming and was kicked out.

BUT As long as a coin has a hard cap, and is decentralised and is not controlled by any one entity then I dont have a problem with it. Compared to ETH and Ripple it ticks my boxes.

No way. if the one is Daniel, Getgems holders will not accept the ICO. And again some of the team members photos are with sun glasses on.  8)

another BTC collect and "dash" away ICO?

guess our
GetGems ICO money is used for this scam ICO as for their fuel, drives me nuts.

Well what is going on with Paykey now? 

Daniel, in reading, please update<g>.

They are behind KIK upcoming token as advisors, just in case you guys would want to know what they are up to.

https://kin.kik.com/

Our Lead Advisors:
CoinTree
Uriel Peled
Co-Founder and CEO

https://cointree.capital/

Daniel Peled (CRO)
Head of CoinTree's investment Committee. Co-Founder and CEO at PayKey, an Israeli Fintech startup with investors such as MasterCard and Santander InnoVentures. Veteran member of the Israeli Bitcoin community and the first person in Israel to ICO a blockchain company. Holds Masters in law and Bachelors in economics, Captain in the IDF EOD unit.

Daniel addded his profile "Captain in the IDF EOD unit". In Islael IT society, everybody relating to army units. I know plenty of them. I may ask some of them to spank his bamp!!

Scammer is escaping to there well penciled.

I held Gemz once a very long time ago and I even made some profit but I've always followed their threads after accusations and concerns started to arise. I honestly don't understand how it came to that situation and I'm not even sure if the project is active because there was no official statement as far as I know, I do know there is no active market.

Can any of you guys (early investors, holders, etc) know what's the current status of the project? The site and app are still online.

very interesting indeed.... scammers and crypto ..once they get a taste for it they find it hard to leave.

I just did few google and found paykey obtained some bank customers. what a surprise IBM is listing as a solution of Paykey.

Daniel is not mentioning GetGems in his profile. He knows this is pain in the neck in his carrier. We will not tolerate.

Case against Peled the alleged Getgems scammer https://twitter.com/tocryptopia/status/989431321796657152