@'Rob'
you mentioned earlier that you are here to protect the investor.
could you offer some thoughts on the tax/legal implications of running a masternode are?
those are very important considerations for everyone to know
oh, idea!
Why dont we have a group skype video call? we can finally meet you and disuss these things openly?
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Masternodes - what are the tax/legal implications to the owner/investor?Be sure you read up on what this 'Masternode' scheme is. rememeber when you mine, spend, receive cryptos you are entering into situations with bigger legal/tax questions taken from: https://www.dashcentral.org/p/legal-201609Knowing support exists to fund these legal costs, we have proceeded to obtain formal quotes for portions of the work. The first set of question we would like to address consists of the following questions on masternode investing and liabilities: 1) Legal opinion on the treatment of masternode block rewards under the Internal Revenue Code a. Whether they are treated similarly to mining rewards, interest, or other tax treatment b. Tax treatment of the initial collateral “investment” 2) Liability of masternode owners for the transactions they facilitate a. Whether masternode owners may be responsible for criminal activities connected with transactions they facilitate ![Shocked](https://bitcointalk.org/Smileys/default/shocked.gif) b. If so, under what circumstances c. Whether participation in “mixing” services might give rise to criminal liability d. If so, under what circumstances 3) Liability of exchanges that support Dash transactions and guidelines on meeting existing compliance a. Whether an exchange might be held liable for criminal activity associated with PrivateSend transactions
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Finally, do not consider small crypto as an investment. If you are or are not truly a Christian (which is not for me, nor anyone short of God to judge) and need more information to invest, then don't consider this coin. It is not at the investment level regardless of faith. When a coin hits the levels DASH has, Masternodes may be part of business investment plans, but that is up to them to do their due diligence and ask questions. At this level, the bake sale level in my analogy, no one should be "investing". We can gather around a mutual hobby, crypto, and one that has charity at it's heart. If you don't wish to be a part of it, you are not forced to be. You sit back and allow the outright blasphemy that is the JesusCoin (the mote) to exist and attack this one (the splinter, if even that), but you have made your concerns and no one seems to share them.
So why exactly are masternodes being sold now then? what is the reason? Lets look at the dash website on masternodes http://dashmasternode.org/Masternodes primary function is to relay transactions across the DASH network. Additionally they carry out the anonymization of funds (PrivateSend) and enable double-spend-proof transactions through instant lockdowns (InstantSend). Another major feature is Decentralized Governance by Blockchain enabling Dash to fund budget proposals and finance its own development. In the future even more valuable services will be performed by the Masternode network. Now can you tell me that why a project that has no active users, worth less than 1/100th of a penny, and is so new would have a need for all these features? Let's be real. its like saying you need to install a super expensive security system to a playhouse. The fact is, its a product being sold by early miners (mostly Dev team in my estimation) to new comers to make BANK. Its the only way to quickly raise money and get a happy xmas for all. People have to ask themselves exactly what they will do with these 'interest generating biblepay masternodes'. What will you do with a biblepay coin in the future? What can it buy? what will it be worth? Is that the reason you want to invest in something that gives you kick back? If you want to help kids, Dash with donations can fit the bill easily Myself, just stick with a proven technology that has a need for a masternode. Or at least see how thing play out for at least 6 months before making a move. again not investment advice, then again the 'investment' word will never be uttered again on here by the team as it was in the past before i asked for accountability
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Just so people here can see im not bitching and whining for nothing. Pyramidal / ponzi schemes are EASY TO DO with alt coins this is from the dash developer site https://dashpay.atlassian.net/wiki/spaces/DOC/pages/102596628/Ponzi+Pyramid+Scheme+Scam+Warningmasternodes are ponzi scheme invention I strongly suggest everyone here read this page for their own financial wisdom. Spotting a pyramid schemeWatch out for the following warning signs of a pyramid scheme: To make money you will be required to sign up other people The scheme involves selling goods and services of little value, for example, goods that serve to promote the scheme such as information booklets There will be an upfront joining fee or large initial investmentYou’re asked to sell goods or services through franchisees or sub-distributors If something looks too good to be true it may be a scam. If you suspect something is a scam avoid it and report to to the appropriate authorities.
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Seems safe enough to me.
For institutional investors, they might add a bit, but I can't see them really going hard on a crypto position.
i think most of the whales are from this pool
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one angle that is not often heard is what happens when governments put up their own crypto and mandate general population usage.
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probably gov issued crypto. they have the fiat to back it up ![Tongue](https://bitcointalk.org/Smileys/default/tongue.gif)
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Does the team have experience in this sphere?
Yes, lead dev has founded a successful cryptocurrency project and maintains it with 5 devs currently. From 1 guy to 5 now. wow. mining millions and millions of coins to dump on everyone. called it Wow, talk about out of context. He said he has a previous CC project that has 5 devs. BBP has 1. Tall about the accuser of the brethren... He's desperately trying to find some mud to hurl but so far he hasn't really found any. I think he's doing a good job of demonstrating how little there is wrong with this coin. And Rob has shown the wisdom of Solomon by not feeding the troll. practices the 5th amendment while restricting others 1st amendment right of discourse and debate
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Does the team have experience in this sphere?
Yes, lead dev has founded a successful cryptocurrency project and maintains it with 5 devs currently. From 1 guy to 5 now. wow. mining millions and millions of coins to dump on everyone. called it Wow, talk about out of context. He said he has a previous CC project that has 5 devs. BBP has 1. Tall about the accuser of the brethren... this just supports my hypothesis. current theory 1. Dev has considerable hashpower and partners prior to starting the project from past projects 2. Dev forks a coin, and gives it a novelty twist 3. Dev 'premines' coin prior to release. that is to say beta tests it internally to make sure his hashpower is ready to go at it. the other 5 devs can do the same. doesnt matter the point is to get AS MANY COINS AS POSSIBLE so there is a huge volume to sell later. (mine, pump , dump) 4. Dev markets coin as a 'currency for tribulation saints' and configures coin so it portions out some to a donation fund. 5. Dev creates investor demand by inventing 'sanctuary' mechanism. Sets the price very high so that early adopters cant mine it for themselves but have to buy it from others (aka him and his buddies who have the large hashpower). 6. Dev releases 'sanctuary' and people spend their hard earned money ($1200) (fiat/btc) for worthless, unfunctional biblepay tokens. It makes no matter if those are kept in deposit. You just have to sell imaginary units for real money 7. the people who buy these tokens (investors, but they cant call them that) now hope that the next group of people will buy it from them Its a classic pyramidal ponzi scheme. People who buy into this need to be aware that people at the bottom layer profit first and most. THEY DONT ABSORB MOST RISK. The rest are the poor suckers that hope to sell it to the next stream of people
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togoshigekata ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) i can confirmed,that togoshige helped me via PM ... thx togo pls to carve into stoneDash (governance model) + Vertcoin (asic resistance) + Charity (a good cause) + Religion (morals) dash with a donation feature is all thats needed lol
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Sir, I am computer savvy but not an asset to crypto coding. I have a strong background in communication. I look to help people, and that is why I continue to speak to you. It is one of my gifts and it is my gift to this coin. I would rather shoulder the burden of difficult users and allow the Dev to do his work coding. I believe in this coin, so I do what I can to help it, but I didn't know the Dev prior to this coin.
Please re-read your Bible, see that doing good in the name of Jesus is Biblical. See that the Bible has numerous examples of unnamed persons doing good in God's name. But also of Jesus reaching out to difficult and outcast people, so that is why I continue to try and help you.
If you are anywhere near Illinois, you're welcome to come visit my house, see my computers and determine if I'm a shell account for the Dev or not.
Finally, do not consider small crypto as an investment. If you are or are not truly a Christian (which is not for me, nor anyone short of God to judge) and need more information to invest, then don't consider this coin. It is not at the investment level regardless of faith. When a coin hits the levels DASH has, Masternodes may be part of business investment plans, but that is up to them to do their due diligence and ask questions. At this level, the bake sale level in my analogy, no one should be "investing". We can gather around a mutual hobby, crypto, and one that has charity at it's heart. If you don't wish to be a part of it, you are not forced to be. You sit back and allow the outright blasphemy that is the JesusCoin (the mote) to exist and attack this one (the splinter, if even that), but you have made your concerns and no one seems to share them.
just post up an investment page and stop wheezling around with paragraphs of excuses and disclaimers lol
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i care not what other cryptos are getting away with from non-existent regulations. that seems to be counter argument always. its the wrong standard to go by. you put the Bible in the project (literally in its hash), you better establish an order of accountability above the rest. forum posts peppered with teases and non specifics are like some underground party people are looking to get into. i get it - the more elusive the scheme the more allure and perceived value it tries to conjure
im not sure your math adds up. and i dont know how you can know much Dev (plus partners) have mined ahead of people or currently. Its impossible to know. Obviously Dev isnt stupid and has designed an investment scheme that requires 1.5 million coins (it was 500k, then 1.1 mil, then time to get that xmas bonus so 1.5 mil). The only way to provide people coins to buy those coins is to have them for sale across multiple accounts/miners. Its really not that difficult to see through.
Now you may say, how can "poor o' solo Dev" be able to pull that off, it would cost so much money. The fact is that anyone a year or two ago cognizant of bitcoin could have easily horded a lot and now have LOTS of money to use. In other words USD has deflated drastically and now BTC is king. So a $20 BTC coin can buy $7k of resources. You only need 6 months for the final 'master node' pump/dump scheme. So perhaps a $40 investment in BTC can yield you the mining hash (and thats probably exagerated)
the other tip off is how experienced the Dev is. He obviously appears to have worked with crypto and possible did another coin venture prior to this. So its a hash/rehash.
Keep in mind that these are questions that go through my mind. a simple document with a real person behind it would aliveiate worries of a flyby night operation using the Bible/orphans as its cover. also make masternodes more accesible to the public and not the pyramid investment that is being proposed
To the point of masternodes being a deposit account. what does that matter? the point is to sell the tokens for btc! of course you can keep the tokens! print them out and stuff them in your mattress. its just play money. the game is to print tokens out of then air (via mining) and sell the hot potato to the next person with real money. and give them confidence the token will be worth something 10-100x in the future.
Ok, while I am getting the impression nothing short of your way or the highway will satisfy you, I will address your concerns one last time because I've seen other users in other forums start with the adversarial attitude you seem to be exuding and become good users. Your argument about other cryptos is heard. But I wonder if you are the same person calling the health inspector for a church potluck or bake sale? At the point we are at, this coin is too small to do any of the regulatory diligence you request or suggest. As far as accountability, you have seen the orphan reports? There is a clear path that shows we are supporting well over one hundred orphans. So I would hope that you would see that and recognize that the biggest cachet of the coin is being done correctly and is verifiable. I don't see much more due diligence being necessary. As far as my math, as of writing this, the TOTAL coin cap is $165,000 (according to coinmarketcap.com). Mining was open from day one, there was no premine. So any advantage the Dev had was not one that was exclusive to him. There was an announcement that mining would go live at a certain time, and low and behold, it did and block one came into being. As far as the MN cost, that has been debated for months, and the Dev has said a variety of numbers trying to find a reasonable stake to launch one. While it is conceivable the Dev has multiple accounts that are mining, I cannot fathom a world he has 90% of the coin given the lack of a premine or Dev reward. I can account for roughly 10M coins between people I know are not the Dev and I don't know that many users. Your Bitcoin argument seems to ring of the straw man logical fallacy. Sure, he may have been the Bitcoin Pizza guy, or Satoshi Nakamoto himself, but in terms of this venture, this coin, he is essentially the lead Dev. It doesn't matter what his other resources may or may not be, he still only has 24 hours in a day. Quite frankly there are much easier ways to pump-and-dump than to start a new coin with zero premine. In the end, I don't understand your vitriol towards this coin. You've not posted one single thing to the obvious target, JesusCoin, nor 666Coin. If you fear this is a pump-and-dump coin, then that is your right. But the things you ask for, and I note only you ask for, are not remotely industry standard. If you do not understand how masternodes work, then ask that question. Or better yet, there are a series of videos that DASH put out that explain it very well. Find them on YouTube. Good luck to you in your crypto adventures, but please either settle down and relax here, or find another coin to play with. Why are you speaking for 'Rob'? Why doesn't he speak to address these important issues. You always jump in to do the PR damage control. So you are either in on the scheme or 'Rob' himself. When people have to hide themselves behind double accounts, proxy domain names, that is a major red flagFurthermore, the 'orphan feature' is a marketing gimmic to be the raison d'être for inventing the coin. But its completely unnecessary as its just sending monies from one account to another. Easily programmable in any coin. We dont need a highway to be satisfied. Just throw up an investment page about the masternodes on the biblepay.org. And reveal who the team members are. Anything less is unbiblical.Again, we cant expect 'Rob' to answer or even do this because it would implicate him. So surrogate accounts such as yours are need to provide a shield Christians need ALL information to make their investment decisions.
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Does the team have experience in this sphere?
Yes, lead dev has founded a successful cryptocurrency project and maintains it with 5 devs currently. From 1 guy to 5 now. wow. mining millions and millions of coins to dump on everyone. called it Just currious, but what it throwing up your red flags on this project? I outlined my thoughts on characteristics of a pump and dump hereTo summarize - 'Rob' is an anonymous figure. No name, address, etc - The coin was designed with very high circulation and is concentrated into a few hands (how does a new project get so much interest if not for pumping and dumping) - 'Rob' gets nervous when this is questioned and attacks people who questions it or asks people to look the other way - 'Rob' refuses to put out an investment sheet on the website on the 'maternode' scheme. He prefers to solicit interest in this forum so information is scattered And lastly, there is no need for this project. It can be implemented with any other cryptocurrency with a donation button to charity. The only way to make money in this scheme is to mint your own coin that others have to buy. Since the other coins (.ie. Dash) are impossible to mine now, it cant be profitted from.Public scrutiny especially in a christian project is mandatory. 'Rob' may have good intentions but yes red flags abound. I suggest everyone to challenge 'Rob' on who he is, and demand a publicly published investment page on the biblepay.org website. Let's hope he is working on one
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Thank you Ferohers! Lets remember our roots. And I'm sorry to hear about the Christian oppression in your part of the world. Let's think about that, all of us who live in our glass houses in the US, if you want to serve Christ and KNOW him, you need to be comfortable living outside and helping your Christian brothers and sisters. Prepare for the Tribulation and thank God every day while we still have the internet. [/quote] preach it. google it up so you can learn the talk. then preach it. "godnodes" "judas priest" . 'Rob' has a history of blasphamous references in this project. Playing up to the real christian brothers is so very sad 'Rob' know them by their fruit
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when you dont have an answer to an inquiry , attack the questioner. ad hominem
We still need from you some kind of investor information page. if you legally dont want to be accountable to a 'prospectus' thats fine.
but post something up publically.
You are after all standing to raise at least over $150,000. maybe much much more.
I'm not sure if there is an outside "investor" but if there already is one, then what good is a prospectus or investor information page. Put another way, if you start a business and you and I know each other, and you say, "hey west, I'm needing some help with this business and finances", at that point I ask the questions I need to feel good with the investment and it's done. No other document needed. I don't know of any overt moves to reach investors at this point. Granted, if the coin were to break down walls like Bitcoin, then yeah, investors would start to notice us. But again, have you ever seen a investor information page for BTC, XRP, ETH or any other big coin? You know, the ones that make up 90% of the $200B dollar crypto world? Why you would expect a project that is in it's fourth month and valued at less than two block rewards of BTC makes me wonder why you are so adamant? As far as standing to raise $150,000, I question if you understand the principle of masternodes? The masternode "cost" should be looked at more like a security deposit. You retain ownership of the cost, it is just frozen while you run the masternode. But you can release it and do whatever you want with it at any time. If you understood this, it's not meant to demean you, just I cannot understand where the high dollar figure comes from given the number you cite is within $25,000 of the total valuation of the minted coins. With no premine, no Dev reward, the only perk the Dev got was to get in on the ground floor so to speak when basic hardware gave very good returns for a week or two. Yes, a coin based on a religious text does make the bar a bit higher. But to date, the Dev has been very responsive on most issues and has brought the coin from nothing to where it is. So, two final points: One: As far as Biblepay, or any cryptocurrency, as a investment (from the classically understood definition), don't risk more than you can afford to lose. And ultimately consider it highly speculative. Two: If you cannot be satisfied with the answers you have gotten, understand there's basically one person running the show right now. So after your point has been made accept the answers even if you don't agree, or don't accept them and move on to one of the thousand other coins. i care not what other cryptos are getting away with from non-existent regulations. that seems to be counter argument always. its the wrong standard to go by. you put the Bible in the project (literally in its hash), you better establish an order of accountability above the rest. forum posts peppered with teases and non specifics are like some underground party people are looking to get into. i get it - the more elusive the scheme the more allure and perceived value it tries to conjure im not sure your math adds up. and i dont know how you can know much Dev (plus partners) have mined ahead of people or currently. Its impossible to know. Obviously Dev isnt stupid and has designed an investment scheme that requires 1.5 million coins (it was 500k, then 1.1 mil, then time to get that xmas bonus so 1.5 mil). The only way to provide people coins to buy those coins is to have them for sale across multiple accounts/miners. Its really not that difficult to see through. Now you may say, how can "poor o' solo Dev" be able to pull that off, it would cost so much money. The fact is that anyone a year or two ago cognizant of bitcoin could have easily horded a lot and now have LOTS of money to use. In other words USD has deflated drastically and now BTC is king. So a $20 BTC coin can buy $7k of resources. You only need 6 months for the final 'master node' pump/dump scheme. So perhaps a $40 investment in BTC can yield you the mining hash (and thats probably exagerated) the other tip off is how experienced the Dev is. He obviously appears to have worked with crypto and possible did another coin venture prior to this. So its a hash/rehash. Keep in mind that these are questions that go through my mind. a simple document with a real person behind it would aliveiate worries of a flyby night operation using the Bible/orphans as its cover. also make masternodes more accesible to the public and not the pyramid investment that is being proposed To the point of masternodes being a deposit account. what does that matter? the point is to sell the tokens for btc! of course you can keep the tokens! print them out and stuff them in your mattress. its just play money. the game is to print tokens out of then air (via mining) and sell the hot potato to the next person with real money. and give them confidence the token will be worth something 10-100x in the future.
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Further more Rob
Unlike so many, we do not peddle the word of God for profit. On the contrary, in Christ we speak before God with sincerity, as those sent from God.
We are still checking the biblepay.org homepage for an update on that investor informational package
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There is a really neat feature here on SMF called "ignore". I clicked Ignore underneath Coinpimps name. Just click it and you will never see one of pimps posts again!
I clicked it. Go ahead coinpimp, spam as much as you want now.
Youtube, twitter, facebook, wordpress, so many places to educate the Christian on how to discern cryptocurrencies. Cant hide the Truth You are the light of the world. A city on a hill cannot be hidden. 15 Neither do people light a lamp and put it under a basket. Instead, they set it on a lampstand, and it gives light to everyone in the house. 16In the same way, let your light shine before men, that they may see your good deeds and glorify your Father in heaven
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And what is the problem this coin wil solve placing it on blockchain.
None. If donating to orphans is the 'killer feature' of biblepay, you can recreate it with a branded Dash wallet. Because under the hood that is what powers biblepay. No need to even create your own coin, code base, master nodes, miner network or anything. Just use the same Dash blockchain, the same dash token, and add a send to orphan fund button in the software. No need for a special 'biblepay' currency. not limited to 1 exchange. and a user base of 900+ miners who dont really use the token but just mine it to sell it. And you keep using Dash currency that is worth $300 not 0.00009. No specialized stores to buy amazon affiliate goods. Traded dash for btc at any major exchange and do what you want. and Dash continues its development with a huge developer base so the code base is more advanced and maintained and open to scrutiny When you pay someone the software asks you if you want to donate a percentage to the charity of the month. Then it takes your balance, splits a payment to the intended address and the orphan address. Its exactly the same way it works today when you are in a grocery store and it asks you if you want to donate to the 'children's' fund before giving you your final tally. Thats literally all it takes to implement a feature that donates to an orphan fund.
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Rob,
Looking at the horrible JC coin, why didnt you decide to just make this an ERC-20 coin? Backed my ethereum would have made the liquidty/exchange side of things smoother
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