Hey guys,

It's been a long weekend and I've been in touch with the top 10 investors discussing how we plan to proceed going forward. There's been a lot of speculation as to what's going on, but namely one thing I really dislike seeing is how people are constantly asking "where are the devs?" when there is usually only a day or two between my posts in these crucial times. I understand, it's frustrating what's going on but even more so because of what's going on, I don't have the time to sit on BitcoinTalk frivolously replying to every person.

This weekend, I reached out to the top 10 investors of the LIR ICO to determine how we would proceed going forward. I have not been able to contact Phoenix since friday, and he was the only team member not present at all during our interaction with the top investors. Of the top 10 investors, there was one who we received no reply from on Friday, so we're not sure what his stance is on the matter. The 9 I did manage to contact, we discussed the current events and the team and I agreed that they deserved the chance to opt out given all that was going on. From 9 present, 7/9 chose that they would prefer if their BTC was refunded at ICO value as they were unsure of the project's future given the circumstances. Today we will be starting the refund process with these seven investors. This will take some time to investigate each account and determine what value they pair for their LIR. For record so the community is aware, we will also be investigating the origin of the LIR sent to us by our top 10 investors, this is not a chance for them to take advantage of the markets crippled state to simply buy LIR at well under ICO price and then resell it to us at ICO price.

Given 7/10 of the top investors will no longer be present, we have come to agreeance with them that it is fair to shift 7% of the 10% dedicated to top 10 investors only to the open dividend public meaning this cap will change from 18% to 25%, and the remaining 3% will be split among the remaining 3 investors of the top 10. With the remaining  On top of the LIR returned by top investors being refunded, we have negotiated a deal with top investors who have chose to remain for a total of 10,000,000 LIR.

After we have received all of the LIR, we will then be placing 17,000,000 LIR in escrow and keeping 3,000,000 LIR for a hot wallet bankroll. Effectively, this means ~60% of LIR will be taken out of circulation. At the conclusion of this tournament, we will be enabling gambling via LIR. If at some point it is required that funds be transfered to fill our hot wallet, we will request this from the escrow. During the duration of this transition to LIR gambling, as profit itself is LIR, the original allocated amount towards the buy back will be added to the dividends (+11.5%) meaning there will be 36.5% in public dividends.

At this time, it's hard to give more news since the team and I will now need to refactor our goals and planned expenditures as we will be refunding a large portion of the BTC. It is also unclear at this time why Phoenix has not been on. Of course, many will speculate the worst but after knowing him for a year, I feel I owe it to him to give him a few days incase something came up in his personal life as not too long ago something did in mine. For clarification since I'm sure this question will come up, Phoenix was incharge of the marketing budget and as such was holding the BTC dedicated towards that.

Unfortunatley, we cannot support the price/market due to our limited budget. The market price does not dictate the success of a project as we are going to continue working and building new content. For those who are complaining that the price is low, show support in the books as it is the community of traders around this project who will have to be the ones to influence the price. All we can currently offer is our support through updates and development.

Thanks, and I'll be in touch with more news such as the updated roadmap and the development of new games as soon as there is some.

Why would they give money of course it is their business.  They loan it so they have money to pay to their staff and for the utilities.  It is also another way of paying their depositors their interest.  And that is some peoples money and they have no right to just give them away.  It is a hard earned money by people who works really hard.

I have bought a good number of LIR at the price of more than 1900, now I am waiting for the price to increase once again, can I know that when will a pump start in LIR, as with lower price the demand is also decreased, just remember when the price was increasing continuously the demand was much higher now with lower price there are less, I am seeing in the Yobit Chat that whenever a coin start to pump everyone start to shout that buy that coin it is pumping and a speedy buying starts at there.

I also wish that LIR pump higher. Dev should have to do something, they have to take the start, they have to accelerate the sales of LIR on Yobit.

Great to see the design . Its really cool and I love the cursor . Chat is working pretty well Although I have problems in clicking the members online tab and options tab . Where can I see the tournament details ? Can anyone provide me any link?

Hold ur pockets. Tha launch is coming soon. Dont loose ur coins guys!

Its been a few weeks but its not like its been delayed. We are just eager. 

The price always rebounds after bad events, it is mainly a traders market, you gotta be in it to win it  

I am gonna say higher, past the $600 mark.

It was a messy day for everyone in crypto today. Most markets fell including ours but I know they will all be back up soon.

For my vote id like to cast my vote for #5. When I saw that name I knew right away it should be the winner. soon we will see if the others agree with me.

I have a question for you now.

Do you know if the next tournament will start by this weekend or is it going to be next week
?

Hey guys, what a hectic day! Glad its almost over and we all hope for a good resolution regarding the Bitfinex situation. On to business now.

The best name contest voting is about to begin. It was so tough to narrow down the list to just 5 names that we had to add a 6th.  The names are as follows,

1. DiceyMcDeeezNutz
2. The Power of Rolls
3. JustLetItRide
4. ShooterXD
5. c4$hm0n3y
6. namelessname

Please vote on who you feel has the best name and feel free to let us know why. You can vote by simply voicing your opinion in the thread. Please finalize your vote by saying VOTE: 1 for the #1 name on the list and BOLD it. Of course, we welcome discussion on the topic as people may be split between voting.

Voting will be closed in 7 days on August 9th.

We are very close to being ready for the next tournament so please be patient as there is much excitement to come! We can tell you now that there will be a prize pool of over 125,000 LIR up for grabs and we hope to have even more people take part this time around. Last time we were lucky to have over 250 unique users take part. Our goal with this next round of beta testing will be to have over 500 unique users as well as ensure the stability and functionality of our new site.

what tournament?

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IS this a good coin for investment for 3-6 months?

Are they planning on adding this coin to anymore exchanges besides Yo Bit?

I have some LIR in my wallet now and consider to hold it for a moment in the hope that the price will be increased significantly soon. I do believe that LIR price will hit 5000 sat in the near future.

all of the altcoins fall under the pump and dump scheme and it is not only limited to onecoin. and this is not for recently as you say in your first post, this has always been this way right from the start. bitcoin have also been affected by this but because bitcoin is also used as a currency and it is more than just a coin and also has a bigger community that part is faded away over time.

Most beautiful way to wake up in the morning?
Waking up to lir at 2k satoshi.