Where is all the money leaving PPT to? Maybe HVN..hmmm

Your crude way of replying won't stop me from expressing my opinion. Obviously, your knowledge is shallow. I'm still determined by my opinion. they made the wrong decision. just check PPt rank,trade volume and price on coinmarketcap these are clear signs of the veracity of my opinion.

regarding They've opened a public bounty program in order to stress test the security of the platform. can you tell us how many of ppt holder,users are experts in the field huh

I don't get all this moon talk and limbo nonsense.

I have a good slice of ppt in my portfolio in the hope to earn some passive income to support my family. And maybe build a trust-fund for my kids.
It would also be smart to add other types of passive income tokens like Spectre-AI and Debitum.

If you want some 1000x gains you'd be better of buying a CMC top 250~400 place coin/token. High risk/High reward.

Let's just wait for the platform to mature and see if it could hit 200 dollars by this summer. And maybe earn some passive income.
Be a little greedy, but don't be a delusional idiot expecting to become an instant billionaire. It's off-putting to new investors.

Hi,

I guess this  PPT SCAM has finally come to an end. Not my words ,but got this from the Reddit pages. It blew my mind ,but DYOR.


WAS PPT CEO CONVICTED OF FRAUD IN 2008? - DYOR

After all the FUD that has been circulating regarding PPT, I decided to conduct my own investigation. I set out below the results of this investigation.

I have nothing against PPT, i thought it was an amazing idea and I hope the platform and the idea is big enough to live on beyond this scandal. However the criminals running it need to be exposed before investors loose their money completely.

I have provided all the relevant links so you can DYOR.

With the help of my accountant to navigate through Companies House to Research Steve Nico Williams business interests past and present as per his Linkedin profile, a few tips from a detective friend and several other concerned investors we uncovered the following:

Steve and David Williams were born Stephen and Samuel Adeyemi on 15 September 1979 and later changed their names to Darren Williams (Steve) and David Williams.

Darren Williams is the CEO of Populous World according to Companies House documents. https://beta.companieshouse.gov.uk/company/10458726/filing-history

He and David have had a variety of other Companies, all of which have failed to submit Company accounts for reporting procedures and these Companies have been struck off.

Together with his Brother David and as per his linkedin profile, outlining that he is a publisher of Tramp Magazine, they appear to have dealings with Knight Capital Limited / Zloader – David Williams is the Director. This appears to be some sort of Equity Investment Company. However the website will lead you nowhere as all the links lead back to the home page. http://www.knightcapital.co.uk/#

Ok, lets go back to Populous World. On 23rd January 2018, they were given a First Gazette notice for compulsory strike-off. https://beta.companieshouse.gov.uk/company/10458726/filing-history

Here is what my accountant emailed me after a few minutes of research: Ok basically a compulsory strike off is not good news and is in line with Directors walking away from Companies leaving it with a mass of debt.
Looks like David and Darren Williams are the boys behind this.I spent literally 5 mins on the Companies House Register and find they have connections with Upward Capital OC 415936 a partnership,Olympus Research ,Bellaface ,Zloadr, Populous Data Analytical and if I had the time could probably find a lot more..All Companies except Zloadr have been struck off with no accounts ever submitted but Zloadr is strange and could be where they sort away their funds as it has a capital base of £317K on the last accounts but mostly made up on intangibles assets whatever they are with just 17K cash . Knight Capital Ltd has just become a Director of Zloadr !!

Anyway overall they are not operating as responsible directors should and there appears to be a deal of camouflage behind what they are upto.

So why, when a Beta platform was due to be released that week, did this strike off threat occur? Ask yourselves this? His accountant, if he had one, would have been on top of all Company filings and would never allow this to happen.

That concludes some of Darren Williams aka Steve nico Williams recent work history and provides some history into the successful businesses he has run in the past.

Ok, so lets move onto the article from the City News report dated January 2007 that was posted on Reddit a few days ago. We spoke with the journalist and they confirmed that the article was genuine, but he was hazy about the details as over 10 years ago.

So lets dig a little deeper. The News Report mentioned Reading Crown Court! An email was sent to Reading Crown Court, which was then forwarded to Oxford Crown Court due to the case being moved (maybe due to the severity of the case) and Certificate of Conviction was emailed back to us stating that Darren Stephen Williams, born on 15 Sept 1979 was sentenced to 42 months in prison on 4 March 2008 for Fraud.

An extract from the sentencing certificate is below, however for purposes to expel any further FUD on this matter and to enable you to DYOR I have left details of who to contact at the court directly so you can get your own certificate emailed directly to you. I might add here that the severity of this fraud was such that it took over a year to come to trial.

---------- Forwarded message ---------- From: "Oxford Crown, Enquiries" enquiries@oxford.crowncourt.gsi.gov.uk Date: 8 Feb 2018 10:19 Subject: RE: Case of Stephen Adeyemi and Samuel Adeyemi

Dear Sir Your Email was sent on to Oxford as this case was transferred from Reading Crown Court to Oxford. I enclose the certificate of conviction.

Officer of the court Crown Administration HMCTS | Oxford Crown Court | St Aldates | Oxford | OX1 1TL Phone: 01865 264200 GoldFax: 01264 785113 Email: enquiries@oxford.crowncourt.gsi.gov.uk Web: www.gov.uk/hmcts

In the Crown Court at Oxford Certificate of Conviction.
No: T20070131

This is to certify that Darren Stephen WILLIAMS dob: 15-Sep-1979 at the Crown Court at Oxford was convicted on 04-Mar-2008

Upon indictment of:

1/1 – Attempting to obtain a money transfer by deception

1/2 - Attempting to obtain a money transfer by deception

1/3 – Obtaining a money transfer by deception

1/4 - Attempting to obtain a money transfer by deception

1/5 - Obtaining a money transfer by deception

1/6 - Attempting to obtain a money transfer by deception

1/7- Obtaining a money transfer by deception

1/8- Attempting to obtain a money transfer by deception

1/9– Attempting to obtain a money transfer by deception

And was sentenced at the Crown Court at Oxford on 04-Apr-2008 and 30-Jan-2009 to

1/1 – 42 months imprisonment, Confiscation order for a nominal amount £1.00 or in default to serve 7 days imprisonment consecutive to any term the defendant is serving

1/2 - Count to remain on file

1/3 - 42 months imprisonment concurrent

1/4 - 42 months imprisonment concurrent

1/5 - Count to remain on file 1/6 - 42 months imprisonment concurrent

1/7 - 42 months imprisonment concurrent

1/8 - 42 months imprisonment concurrent

1/9 - 42 months imprisonment concurrent

TOTAL SENTENCE 42 months imprisonment

No recovery of defence costs order made.

This certificate of conviction is subject to any appeal against conviction of which notice, or notice of application for leave to appeal, has been or may be given, under the Criminal Appeal Act 1968.

Officer of the Crown Court: Date: 8th February 2018

Hi,

Not my words ,but got this from the PPT Reddit pages. This guy reads my mind.




People who are invested in PPT are acting like the people who invested in Bitconnect loans. They all WANT TO BELIEVE and are quick to dismiss any negative allegations. Do your research and you will quickly find that there is no office, and no core team. The team members on the website are all freelancers, or 20 year olds with no experience, or Nigerians that either have no experience or are 20 year olds. These kids would be happy that they have a job and are getting paid some coin. In other words, they might not even know that theyre working for a scam. The CEO has no successful business experience, and is not public with his words nor presence. All messages in Slack are not permanent and the chat history disappears with every new line of chat. This is the only place that the CEO says anything.

Don't take everything said on Slack as truth. There are people who are paid to continue to convince others that PPT is a great investment and that retirement is around the corner. There are paid shills in all corners of the cryptocurrency space so beware!

I would be very surprised if this turns out to be a successful project. But I highly doubt it. If this invoice trading platform is such a great idea, a proper team with real business experience will likely come up and take the spotlight. My research tells me that this is the job of a conman. Do your own research into the legitimacy of the company and team before starting to FOMO about the intricacies of how a real Populous platform will make you money. (remember how people analysed and researched into how Bitconnect will make money. it turns out that the people were shady and the operation, a scam.)

Did you hear that as the beta release was delayed once again, people were told that it would come out in just "a few hours" again and again and again. Until it became a joke on telegram and slack. This would be a great scenario for the CEO to cash out and sell his stack bit by bit at inflated prices. All the while, we now know that there was no intention of a Beta release by 31st Jan the entire time. Just lies and deceit. Now, investors are told that the beta will release within a month. How many times do you have to be fooled to realise that the CEO is a dishonest man. Think with your head screwed straight, without greed clouding your thoughts, like the investors of bitconnect then, the truth will leak into your mind also.

Authorities and journalists have been contacted to expose this scam. This could end up being another infamous crypto scam that will affect about 10k people who are holding a serious about of PPT in hope of something that won't ever happen.

Does anyone else here find this info worrisome?  The names and birthdays clearly match the folks behind ppt.

citywire.co.uk/new-model-adviser/news/police-charge-two-in-id-fraud-probe-ftse-directors-fell-victim/a279825

https://beta.companieshouse.gov.uk/company/09409466/officers

Allright, so I'm new to this stuff (bear with me!)

I am looking at various blockchain invoice finance platforms out there and I found Hive and Populous.

Can someone explain to me how what they do is different from guys like MarketInvoice?

When there is a transfer of ownership of the invoice (i.e. a "sale" of the invoice), then by definition the transaction must be factoring, not invoice discounting. Invoice discounting is a type of loan/financing that does not involve a transfer of title. The only exception in the world is the UK, where invoice discounting/financing is basically the same thing as factoring. Here is a quote from Wikipedia https://en.wikipedia.org/wiki/Factoring_(finance)#Reserve_account:

Factoring is the sale of receivables, whereas invoice discounting is a borrowing that involves the use of the accounts receivable assets as collateral for the loan. However, in some other markets, such as the UK, invoice discounting is considered to be a form of factoring, involving the "assignment of receivables", that is included in official factoring statistics. It is therefore also not considered to be borrowing in the UK. In the UK the arrangement is usually confidential in that the debtor is not notified of the assignment of the receivable and the seller of the receivable collects the debt on behalf of the factor.

Now if you tell me that Populous is going to focus only on the UK market, which represents less than 4% of global GDP, then the transaction steps they've outlined make sense. In the rest of the world, which encompasses more than 90% of the global opportunity, the transaction as described by Populous will not work. In the USA for instance, non-notification factoring represents only 12% of the total pie, and is only available to larger companies under long term contracts and based on a pool of receivables (never one-off transactions). In addition, the due diligence that invoice sellers are put through under non-notification/confidential factoring is akin to bank lending; it's thorough and complex, thereby expensive to do.

The way that Populous imagines these transactions is completely ridiculous, and provides no protection for the invoice buyers. You mentioned that under the Populous model, the sellers will pledge corporate assets while company directors are to give personal guarantees... do you really think that Populous will pay the costs involved in international litigation to recover against sellers based outside of the UK? I doubt they will do that even inside the UK, as enforcement of these types of pledges is very expensive from a legal standpoint, and wouldn't work for any facility of less than $150,000-200,000. Again, for these transactions to work, the buyer of the invoices needs to take control of the repayment from the ultimate customer. Under Populous' current model, there isn't even a notification mechanism for the invoice buyer to be informed when the invoices have been cashed out... how then is the buyer supposed to know whether non-repayment is caused by debtor default (so that credit insurance can be invoked) or by the seller's non-compliance (so that legal action can be taken against the pledges) It makes zero sense.

Guys! BETA is out! Please go to beta.populous.co. You can sign up there. I can confirm it! When you sign up there is an option of investors and borrowers. You can sign up now!!!! 

Just waiting for their official tweet for populous to skyrocket!

Again, you can't just pull the definition of "factoring" and say Populous won't work because it doesn't fit the description. It's intentionally different. I understand your point about how the seller will receive cash from both sides, but I don't think it's accounts that they control. I don't know the mechanics for certain, but there are a couple of simple solutions that make sense so that's how I expect it to work out. It's not that hard of an issue to deal with so I'm not particularly worried that Populous is just going to leave open the risk that the Seller takes money from both sides and disappears.

If it were indeed, as you say, a sale of the invoice at a discounted price, then why is the process described as follows on Populous's website (https://populous.co/about-platform.html):

-Deposits must be exchanged to Pokens.
-Invoice buyer transfers Pokens to invoice seller.
-Invoice seller transfers Pokens to invoice buyer on repayment of invoice.
-Withdrawal of funds in government currencies, Bitcoin or Ethereum.

It is pretty clear from the above that the invoice seller is the one who is ultimately repaid by the customer, which is the very antithesis of an invoice sale or factoring transaction. You can clearly see in the process above that the invoice seller gets paid twice, once by the invoice buyer (in Pokens) and once by the ultimate customer (in fiat). The reason real factoring transactions don't work like this is that they are structured in such a way as to avoid the moral hazard of seller non-compliance. In real factoring, when an invoice is sold, ownership of the invoice is transferred to the buyer, so that the buyer recovers directly from the customer. That is the very essence of factoring/invoice discounting.

This same process is explained in further detail on page 16-17 of the Feb 2017 Whitepaper https://web.archive.org/web/20170606070843/http://populous.co/populous_whitepaper.pdf:

If the auction is successful:
1.6.9. The beneficiary of the auction receives the funds from the investor group, which has won the auction.
1.6.10. The investors from the other investor groups are refunded their bids.
1.6.11. When the borrower cashes the invoice, which he has auctioned, he sends the money to the platform.
1.6.12. When the funds are received, the investors from the investor group, which has won the auction, receive their winnings. Each investor receives dividends propor-tional to his bidding contributions.

You can see clearly above that invoice "seller" is paid funds once by the investor group (paragraph 1.6.9.) and then a second time by the customer when the invoice is cashed out (paragraph 1.6.11.). From a functional perspective, this cannot be a "sale" of the invoice, because in such case the "seller" cannot be repaid directly by the customer, the right of repayment having been transferred to the buyer. Now, when you take away the right of direct repayment from the invoice "buyer", then this becomes nothing more than a simple loan, or an "IOU". There is no collateralization or other defensive mechanism protecting the invoice "buyer" from the seller's eventual non-compliance. In fact, there isn't even a way for the invoice "buyer" to know whether the invoice has been repaid/cashed out.

You should really be asking yourself whether it's a good idea to invest in a team that can't even properly explain how a factoring transaction works... perhaps this is because they have absolutely no experience in this field.

I answered it dude..... Can you read?  I said "There are some serious bulls behind PPT. And these are BIG bulls with a lot of money.  Majority of the holders know the value of what they are holding, it is priceless.  No price is worthy of my PPT. I wouldn't even sell it to you if you were offering me $1000 each."


PPT has a verry strong group of holders. Someone ells has mentioned that above too.  Is that enough of an answer for you?    That interactive simulation of the Beta was very good in my opinion.  Looks very clean.

Yeh i understand, but why?

wallet init --force

Try click on the "Terminal" tab and type wallet init --force

Shut down wallet, then delete the wallet folder from the computer, reopen wallet, create new wallet.

Use your seed..

I had word from an insider yesterday. Populous won’t be launching 31st there is a bug they can’t solve yet. They have known about this bug for at least a little bit