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I have heard alot before about whale but i dont actually believe that however if crypto rise beyond reasonable doubt very soon then I shall conclude that truly crypto is being manipulated by group of cabres called whale because i do not see any reason that will make crypto to go up especially during this period when alot of bad news about crypto is flying around
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Hi everyone,
I am Yacine the French Ambassador at Dominium. I would like to share my thoughts with you on recent actions taken by management concerning Bounty and referral program.
I would like to start by saying that we made a miscalculation by launching such a large bounty program ( a bit too enthusiastic in my opinion) this was based on reaching an amount of funding between the initial soft cap and large cap 2.5 to 92.5 million Euros. Unfortunatly since then market conditions worsened a lot and we only raised around 650K Euros. Furthermore, we realised that some users were taking advantage of the system by using mutilipe accounts. Therefore we (management) had to cap bounty campaign rewards to save the company. It is better have 10 tokens worth 1 euro than 100 tokens worth 10 cent ( for example) for all of us.
Moving on to the referral program, I clearly disagreed with my boss on this decision but he explained to me why it was taken and I start to understand it although it cost me a lot of effort to get those referrals ( I did it through a blog in an honest way) and I lost 3000 DOM tokens.
The problem was that people were creating many accounts to get 25 tokens each time without even verifying E-mail or completing KYC ( so who tells the company these people are real) and if you do it 10 times by a 100 people it starts diluting the token value a lot.
We (the management) decided to introduce the rule that you needed to complete KYC and create an Ardor wallet in order to activate your tokens.
Of course this should have been mentioned at the beginning and not two weeks beforehand I apologise on behalf of the team on this.
I wanted to add a picture as a proof that I received 25 tokens for 3 out of the 130 referrals ( that created an Ardor wallet and obtained KYC) but my rank does not allow me as this is my first post on this forum.
Once again I apologise on behalf of the team but we needed to take some drastic actions in order to save our company and not make it a scam as some of you might think ! I also understand that we lost trust of some people in our community and we will do our best to regain this trust in the long term.
Feel free to share any further thoughts,
Kind regards,
Yacine
That highlighted text should not have come from you that happen to be member of the project. Dominium have always portray themselves as a big entity with a lot of staff that are professional in their area of expertise and if this is so then what do you mean you made miscalculation. Did somebody covered your eyes when you are making the calculation?. One thing that is very clear is that you deliberately allocated that amount for bounty so that you can attract large crowd of hunters knowing very well that you wont keep with your promise. I am very confident that you will also do the same if you had raised enough money for the project. It is not a bad thing if you allocate Small amount you are very confident that you will be able to pay hunters, there are many bounty campaign that do that and they always limit the numbers of participants so that hunters earn substantial amount of money. This would have safe the company from this problem. If you are having this issue with bounty hunters, How will investors trust you with their money? |
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All now is just a leap of faith. do your own analysis and choose any bounty that you think it pays well. As you can see everything now has turn to gambbling even some well known bounty managers now are getting red trust which means it is very difficult for bounty manager themselves to know campaign that will be successful. for me I have started following campaign that have ICO that are regulated and there is informations about their regulations on the internet. One of them is london block exchange (LBX). I think this is a good project so it will be good if you can join their signature campaign.
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They are sinking because the price of the tokens are tied with base altcoin which is ETH, NEO, EOS and ones the price of those base digital currency start falling then they will also go down. This is exactly what is happening now. Dont forget this token have ones also rise even above the ICO price before that was when the ETH price rise to around 600. I can remember vividly the AION that I participated in their Bounty. Despite the massive dump during the listing, the coin recovered and rise more than 3x of the ico price but today the coin has fallen less than 500% of initial price.
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Things are getting worse for digital currency I remember this time last year. there are alot of smile in peoples face with alot predicting bitcoin might reach 50k before the end of 2018, here we are things have fallen apart and all we hope things doesnt get worst before the eve of 2019. festive period is getting close and I am very sure people will wanna take their money to enjoy the holiday and probably will might witness another fall. Dont be surprise if bitcoin go below 2k. some people were calling it market correction but I am very sure bitcoin will pump again some day.
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As funny as it is this can actually be true but my concern is that since this has actually been reveal and its circulated round the social media then I dont think converting part of his money to crypto can actually save his money in case thing go back because the government can actually trace that and take the money from him and by the way this might even be an added problem for him in case he was being charge for trying to hide his asset by converting his money and saving it in an anonymous digital currency if actually its a crime for doing that.
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As the name suggest "Alternative coin" that is altcoin. it means bitcoin will always have dominium over other coin since no other digital coin is more accepted that bitcoin and even this can be seen in all exchange platforms that bitcoin is always paired with all other coin. Bitcoin is always having highest trading volume everyday. All these have made bitcoin more profitable than other coin. If the price of bitcoin decide to start falling again today then other altcoin price will also fall.
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I know this can be a bit difficult for you but the best option you have right now is for you to hodl your coin. Because if I advise you to get rid of the coin and later the coin moon again then you will feel bad that you should hodl your coin. Let us hope this sad crypto market end soon and we see another run of increase in price of crypto very soon. you may keep the username and password of account where your coin are safe and just take your mind off it for awhile. I have done that in the past and it really work for me.
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I do not understand why many people already acting as if the project will be a great bargain. This is pratical examples those ICO i have earlier reviewed in one of my post about knowing a good ICO. To me I do not think this is a really good one in the sense that there is no way an investment can be risk free. This is a business for God sake and unforseen circumstances may happen and if somebody is telling that a business is risk free I think I have to think twice. I have heard that countless number of time during my days in HYIP.
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where did you see the analysis that gave 99% failure to ICO. This is not correct unless you can prove that despite the fact that ICO this day are struggling to even make the softcap,there are still some of them that have struggle to continuing with the project development and while some of them that cant proceed to develop are giving back few investors that contribute for the ICO. Although there are still some Scam ICO that are majorly intend to scam people but despite the fact that we have some bad on, we cant conclude that 99% until we see proof
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I think it is good idea and this can actually enlighten people more about the digital currency that the technology serve as the bedrock. learning and teaching blockchain technology will make people more familiar with the development just like other programming that are being developed. I can see very soon the technology will be much more popular and people will start flourishing from it as a blockchain developer. its unfortunate that not alot of people know about blockchain but crypto are much more discussed.
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more acceptance less fud and more positive news which in turn means rise in price. the government always want to have dominion over anything which have influence on the economy of the country and this is the reason why governments might not want to accept crypto except they have control over its usability. However you may want to believe me that the reason while there has been negative news about the crypto is partly due to the generally acceptability of the coin. infact 80% of people that write negative news about crypto doesnt even know how it works
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Did you hear the part "could" which can be next week, next month, next year or never. If you know the way bank work, you would realize that they cannot just wake up then decide what they want to do with customers deposits. Except they finance another company to carry such activities with no relationship with the bank and enough provision to cover for the possibility of it failing, they cannot pull it off. Every cents in the bank is accounted for and monitored from the Central Banks, deposits commissions, fraud units etc. The point is, its not that its impossible but the allowance to use deposits of customer to engage in crypto currency and be open about it, has to come from the way top which we all know its not something that is easy to come by. Its a good proposition and I hope to see it happen anytime soon. Its true that banks have to report everything to central banks but that does not mean that banking sector cannot enter crypto market, if you are aware the biggest bank in Saudi has adopted ripple. Banks basically invest in different sectors like real estate, stock market etc other than providing loans to consumers which generates income for them. Investing in crypto may be the other choice for banks, its possible that banking institutions may start investing in crypto sooner or later. I doubt if banks will want to enter crypto trading except it is being regulated globally and even if its regulated, the problem of volatility which I believe might have become a bit stable is one major reason why banks will not want to enter crypto trading. in country such as Nigeria where many banks are closed down by central bank due to instability, banks in this country will not want to try it because of fear of losing money due to high volatiliy. the underlying technology which is the blockchain is what I believe many banks will still tap from as time goes on |
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To me, I think its very unprofessional for any bounty manager to also be participating in bounty campaign. Its hungry managers that do that
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But this is very funny. Even though there are a lot of adencies like FBI looking for Satoshi,I do not think its actually good for the guy to varnish like that. His existence might as well bring more good news also new features to the existing bitcoin. Someone appearing on one small forum and typing a meaningless word to me doesnt seems like satoshi. Mr satoshi seems to be a very intelligent person so even if he intend to come back online again I believe He would come to big forum like this to narrate what has actually happened that made him to disappear for a long time.
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re-branding will not help in this case, we actually need time, I mean BTC needs time, in time, people will understand it better and those bad publicities will disappear.
the best strategy is to face the reality and defend the false negative news which has been talked about crypto. they say crypto can be use for money laundering yet statistics still show that the most money laundering have always been through the financial institutions which are being control by bank. they also says it promote scam due to unregulated ICO for project startup but I believe that this will just be for a while. many investors are becoming wise now and are only investing in project which are duely regulated and government approved e.g LBX |
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I dont think rebranding is the way foreward. Remeber when we talk of rebranding it means changing Name, name, term, symbol, design, or combination but the generation functions in term of use is still the same. In fact as you are rebranding then there are possibility that more negative news will pop up because the same set of people that have been bashing bitcoin will still shade it and make the public look at rebranding as an art of trying to hide from defending the negative things that have been speak of bitcoin it self.
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Yes money laundering started with banks but you would agree with me that Bitcoin or rather the era of Cryptocurrency took it to an alarming level due to the anonymous structure of blockchain.
People that stole huge amount of money are always not to patient in getting their money to another country by exchange it to crypto. For instance in Africa where cases of public fund looting is very common, for all the detected and reported cases, how many time have you heard that they conceal the money by changing it to crypto. All of them are always through banks and some other financial institution where they are being convey to another country. When you hear anything related to anonymity in crypto, the first thing that will come to your mind is ability to access things that you do not have access to before and this is exactly reason why so much people believe that crypto can be use for money laundering despite the fact that there has been little reported case compare to money laundering through banks. |
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