I do believe that the team members are real people. What I have been trying to establish is whether those people are just "names" to make it look like a big team, family to spread the distribution of the premine or have actual functions that contribute to the coin. There is no issue with the being family - that is not necessarily a bad thing either. What is troubling is that there is no real information about them on how they are connected and what they are contributing to the coin.
They are family. We don't want to put our workers up because we are afraid that other people will recruit them. The family team are moderators and community maerketer as the title said. I am not sure what else to say about what they do because the title said everything. Like "Global Moderator" means they moderate our Discord, telegram, facebook, etc. Community liaison means she goes around and talk to people and business about Medic Coin. "Dental community Liason" means he talks about MedicCoin to other dental students.
A premine is a concern - especially one that results in 80% or more of the coins in circulation being the direct result of the premine. It effectively makes the coin like a ponzi or pyramid scheme. It means that the founders and early adaptors make their gain from convincing others to invest. Eventually the scheme peaks and people get left holding worthless crypto.
Honestly, we did not know premine is a concern since we saw so many ICO that had 100% premined and team/developers/products get about 30%. Actually, in this case the early investors barely got their money back. So the early adaptors did not do well.
However - if a premine is used to advance the coin - it is not necesarily a bad thing. But this should be done openly and transparently. Some coins use a "hive" for that purpose.
We do use the premine to list the coin on 6 exchanges and use to payout salary for making MedicWalk proof of sweat app, android wallet, iOS wallet, linux wallet, windows wallet, etc. We also use it to pay for marketing. We also use it to pay for our day and night work on bitcointalk, discord, telegram, twitter, sponsor events, etc. As you know, we use fiat to payout for most of the development because there is no volume to sell Medic Coin.
Unfortunately scams often run as sucessful projects in the beginning. It is near the end when investors are losing and the founders have already taken all their money that it is 100% evident that it is a scam. Signatum was one of those scams. I warned the people about the coin in September. In October their scamming dev "dissappeared" and by November the police was starting to be involved investigating hacking, scamming and fraud.
It is kinda hard for us to disappear in the USA. We are doctors and engineers so it is like ruin our careers /reputation over a coin.
I also understand that English doesn't appear to be your first language - so some of the misleading phrases used may have been accidental.
Yes, sometime we don't know how to put it. For example, we should put "microloan given inspired by MEDIC Coin" for personal donations. It is true, we wouldn't give out loans and make donations if it wasn't for MEDIC Coin. We did not donate to get tax receipt. We donate to make MEDIC Coin look good. The end results: people get benefits from donation and Medic Coin get credits. From now on we will put "donation is inspired by Medic Coin" to let people know that it wasn't Medic Coin that donate because Medic Coin is not a company.
It is really important that as a project leader you inform people of the good and the bad. Simply stating "don't invest what you can't afford to lose" is not enough. You have to make sure that the information that people use to invest is as accurately as possible - otherwise it can lead to all sorts of legal issues.
https://cryptovest.com/news/davor-coin-fell-apart-while-denying-until-the-last/We would love to make this more transparent. We are trying to do that. Like we said before we did not know that premine was a big deal because we stated that in our ANN thread.
1) Transparency - blockchain can be used to prove transactions and provide transparency.
Some may have good intentions and have a good heart but you cannot see that on a blockchain.
You can set up a wallet address and deposit x amount of coins for "app development" and publish how each payment is spent.
You can set up a wallet addess and deposit x amount of coins for "doctor subsidies".
You can set up a wallet addess and deposit x amount of coins for "folding@home rewards".
You can set up a wallet addess and deposit x amount of coins for "exchange listings".
You can publish the wallet addresses of the founders / team members and acknowledge their stake of the premine.
How are the team members retated to each other and what crypto / marketing skills or benefits to they bring to the team.
We will make announcement to allocate Medic to those. We are working on that with our masternode owners. We spent a lot of money on exchange listings and other stuffs already.
Currently 80-90% of the wealth or profits made from the coin are for the founders. Are they puting the profits in their pockets or are they using it all or part to build the coin. How much are they putting in their pockets.
We are using that to build products for the coin. We already have our MedicWalk in beta testing. We already have proof of folding working and paid out daily. The volume is so low. You can see that on all the exchanges the maximum number of MEDIC coin on sale is about 450,000 MEDIC and none of that is our. When there is no volume, we let the investors sell them. So basically right now we are working for free and hope we get payout later when more people adopt MEDIC.
If it hasn't been done - it may be worthwhile doing. List the richlist and what the addreses are for.
We have a richlist link in our explorer. If we want to hide something, we would have a link to the richlist.
People with majority holdings can manipulate the price of a coin. So it is important information. When a dev sells their stake in a coin it usually means they are leaving.
Yes, if we sell everything that would crash and everybody would lose money. The volume is very low.
2) Inaccurate claims. As an unregistered security and the laws being vague and changing it is really important to ensure that no deceptive claims are made (deceptive does not mean that it is intentional - it just means that the claim may fool people).
Deceptive claims can result in serious legal problems for coin founders later if the coin fails.
We used information on masternodes.pro and masternodes.online to post. We did not know that was inaccurate. They charged us money to list there and they told us that there calculations are very accurate. Can you point out the deceptive claims so we can correct them.
We planned to use about 80 million of the premined coins on MedicWalk, Foldingathome, etc.
4) Codebase. What coin or coins is Medic coin based on ? Who is the coin developer ? Is the coin developer a contractor or permanently part of the team. Which other coins has the coin developer written code for ?
MEDIC is a fork of Crave. The coin developers some are contractors and some are salary.
I hope to make this clearer. Thank you for your critics.
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3/28 til now is way more then 72 hours buddy. Until my issue is resolved Alan Booth is a thief and a liar. I have removed all of my clients funds out of your exchange. You cant be trusted and will not be used by me or my clients from here on. Was 10 bucks of XLC really worth that? So stupid...Consider it a tip for the peace of mind that i know you steal from people. I thought it was just a rumor until it happened to me.
3/28 til now is way more then 72 hours buddy. Until my issue is resolved Alan Booth is a thief and a liar. I have removed all of my clients funds out of your exchange. You cant be trusted and will not be used by me or my clients from here on. Was 10 bucks of XLC really worth that? So stupid...Consider it a tip for the peace of mind that i know you steal from people. I thought it was just a rumor until it happened to me.
peace.
Typical life cycle of a hyper inflationary coin.
Typical life cycle of a inflationary coin that is pumped and dumped.
