41
|
Economy / Scam Accusations / Re: APOLLO CURRENCY & SAFEX ARE SCAM YOU HAVE BEEN WARNED!
|
on: September 04, 2021, 11:15:28 AM
|
22/08/20
Steve McCullah
I want to make sure this gets sent to the right people, so please feel free to spread this around.
We have been told that some of these pathetic, absolutely obsessed psychopaths are trying to contact Goverment’s to somehow prove we are a scam.
First of all, if we are working with a Goverment then wouldn’t that show, in and of itself, that we are not a scam!? Obviously if we were a scam with no products then why would we spend the immense time and resources to court one Goverment, much less many?
What this shows is that you know we are legit but you don’t want us to succeed because you are too fueled by anger. You would rather destroy the lives of thousands of people than for us to succeed because it goes against your idiotic, depraved narrative.
I want to make it known that if someone does this, we will be made aware immediately and given the information of that person. We have several million dollars and a legal team set side just for this type of thing. Why do you think so many media organizations have published public apologies?
My promise is that if when we find out someone is actively trying to sabotage us and defame our name, even once, we will lock onto you like a leach and sue you like there is no tomorrow. We will make it known to the world, we will call you out to everyone and we will never stop suing you, we will sue you until there is nothing left but ashes and we will assign a legal team to watch those ashes until there is any microscopic sign of life, as soon as there is we will sue the hell out of you again until you don’t have a dime to your name. We will do this without thinking because you are messing with multimillion dollar contracts and something that will affect millions of lives.
If someone wants a war we will sure as hell give them one.
We have already been give names and we have handed those to our legal teams, we are going to start calling these people out and dropping lawsuits. We will be calling employers, we will be bringing them into the situation.
Don’t pick a fight with a bull if you don’t want to deal with the consequences. We will never stop, not until they are on the streets. We just sent out subpoena’s to Telegram and Twitter. We will expose and destroy.
Do you remember the above Stevo? Nothing happened. Why do I wait? Why do WE wait, for we are many. I look forward to you walking the walk instead of talking the talk. My advice is to find a new legal team that moves faster since we are in 2021.
|
|
|
42
|
Economy / Scam Accusations / Re: APOLLO CURRENCY & SAFEX ARE SCAM YOU HAVE BEEN WARNED!
|
on: September 01, 2021, 05:26:52 AM
|
Liar Liar Liar Steve McCullah27 Aug 2021- Statement form the reserve Bank Of India" Today the Governor of the Reserve Bank of India, Shaktikanta Das, spoke to CNBC about its plans for a central bank digital currency (CBDC), saying it may be ready for digital rupee trials by the end of the year...However, the bank is keen to tread cautiously to ensure it’s not possible to clone the digital currency...But it seems that many typical CBDC decisions still have to be made, and some of them are needed for trials. That includes whether the central bank should issue the digital currency directly or do so via commercial banks". And most important:
"The central bank also has yet to choose whether or not to use blockchain or distributed ledger technology (DLT) or use a centralized system".After reading that, it look's like Apollo Fintech (Knox National Payment Platform) is NOT in the running according the the Central Bank of India. Wow Steve can you be any more dishonest? lol " Another motivator is concern about stablecoins and cryptocurrencies. Most stablecoins are denominated in U.S. dollars and the central bank is keen to retain a “public preference for the rupee”. Quote(s): https://www.ledgerinsights.com/india-central-bank-may-start-cbdc-trials-in-late-2021/Steve McCullah is a LIAR. This is a SCAM SCAM SCAM SCAM more info:https://www.cnbc.com/2021/08/27/india-central-bank-rbi-digital-rupee-trials-could-begin-by-december.html
|
|
|
44
|
Economy / Scam Accusations / Re: APOLLO CURRENCY & SAFEX ARE SCAM YOU HAVE BEEN WARNED!
|
on: August 23, 2021, 03:12:39 AM
|
WARNING INTO PREVIOUS CLAIMS: Apollo Mining ClaimsReview Google Maps with below coordinates: https://www.movable-type.co.uk/scripts/latlong-utm-mgrs.htmlCertificate claims EIGHTEEN COPPER claims, however it lists only FOUR. That doesn’t make sense. Zone 35K (Kwekwe District). UTM coordinates: Lat/Long MGRS Grid Reference35 S 0798905 7893304 19° 01′ 52.3100″ S, 029° 50′ 22.4282″ E 35K QU 98905 93304 35 S 0799202 7893175 19° 01′ 56.3458″ S, 029° 50′ 32.6476″ E 35K QU 99202 93175 35 S 0799105 7892697 19° 02′ 11.9296″ S, 029° 50′ 29.5976″ E 35K QU 99105 92697 35 S 0798744 7892827 19° 02′ 07.8950″ S, 029° 50′ 17.1906″ E 35K QU 98744 92827 This is Apollos first claim to real mines. The author of this paper confused the UTM coordinates and labelled them as eighteen claims LOL Hands up who bought into this scam? Not me. Now we have an update on the SO CALLED mining claims (https://www.gsxfintech.com under Geological Reports):GEOTECHNICAL MINERAL EXPLORATION OF KAROI COPPER QUEEN CLAIMS- Apollo Copper Technical Report 3.9.pdfThe 27 individual claims are reportedly found within the following Arc 1950 UTM grid coordinates; North West 35K 0786000 UTM 8118000 North East 35K 0802000 UTM 8118000 South East 35K 0802000 UTM 8108000 South West 35K 0786000 UTM 8108000 The following are the coordinates for the above locations ( https://www.movable-type.co.uk/scripts/latlong-utm-mgrs.html) Reported UTM coordinates (wrong): Lat/Long MGRS Grid Reference1. 35 S 0786000 8118000 17° 00′ 15.7298″ S, 029° 41′ 10.0279″ E 35K QB 86000 18000 2. 35 S 0802000 8118000 17° 00′ 08.3949″ S, 029° 50′ 10.5390″ E 35K RB 02000 18000 3. 35 S 0802000 8108000 no such entry/same as above no such entry 4. 35 S 0786000 8108000 17° 05′ 40.7922″ S, 029° 41′ 14.6774″ E 35K QB 86000 08000 The pdf is a report on the apparent 27 Copper Ore Claims are referencing mines from 021047 BA...021157 BA. The author quickly states these "claims are 27 Special Grant Applications, totaling over 10,000 acres". Either these are claims, or now Special Grant Applications?? - who now knows? This is just adding more confusion. This pdf paper continues to read as if these were mining claims. As you can see above, the author of this paper is confused between the UTM coordinates and the MGRS Grid Reference combining this data. From the various locations we can see the "mine" coordinates the author claims Apollo Fintech have. Each corresponding number 1-4 match the lat/long coordinates as the author reported them. What we notice is the corresponding mines are NOT located in the area where Apollo Fintech are claiming they are. 1. 2. 3. no such entry/same as above4. For map orientation the author suggests the claims are here: And a more detailed zoomed map for the Geological Report: ConclusionThe author of this Geological Report has made mistakes regarding the MGRS Grid Reference and UTM Coordinates combining these numbers and causing confusion. After an analysis of this report we can demonstrate the so called "mines" Apollo Fintech are claiming are in fact located elsewhere as seen in the diagrams. THIS IS A SCAM
|
|
|
47
|
Alternate cryptocurrencies / Announcements (Altcoins) / Re: Apollo Fintech's Gold Secured Currency [GSX] backed by Gold
|
on: June 14, 2021, 01:46:09 AM
|
NO ONE IS LISTENING TO YOU BECAUSE YOURE THE PHANTOM AND PAID BY NXT!!!!. SHUTUP. GO AWAY. LITERALLY ANNOYING AND SICK OF HEARING YOUR SH1T!!!!
GET A LIFE!!!!!!!! WE ALL KNOW YOURE BEING PAID BY THE NXT TEAM TO FUD!!!!!! GOOGLE IS GOOD!!!!!!!!!!!! YOU'VE BEEN DOING THIS FROM DAY 1!!!!!!! WE CAN ALL SEE WHAT YOURE DOING PHANTOM!!!
Remember. You called the top10 exchange a scam and that turned out to be false!!
About that. FUD or fact because the only proof I've been reading is what I post. Feel free to argue any point but back it up.
To further my point FUD is subjective in regards to this topic as it depends on what side of the fence you sit on. Is it with me who believes this is just a try hard project that has turned into a scam and web of lies, or is it on your side where you believe it is a legit project.
In any case, to refute your comments because I can:
You are listening to me, that's why you felt angry enough to post what you did. I am not a/the "Phantom" you speak of, but this person does sound wise.
You are correct, I have been doing this since day one, but you are wrong I am not paid by NXT. Why would the NXT project pay me when it was about 75% of their code that was stolen? They already won the court case. LOL
If you don't wish to read about "FUD"(that's your interpretation) then DON"T come here and read it, just simply tell yourself "no" and exercise self-control and don't come on Bitcointalk.
However I do encourage you or anyone else to post facts (not what you think) and offer proof if you wish to refute any of my previous posts. That does not mean a copy and paste from Apollo, but rather some material evidence backing up Apollo's claims or disproving mine.
|
|
|
50
|
Alternate cryptocurrencies / Announcements (Altcoins) / Re: Apollo Fintech's Gold Secured Currency [GSX] backed by Gold
|
on: June 03, 2021, 10:33:25 AM
|
The Worst Kind of Crypto Youtubers: RUN GUYSNow that I am able to post in this subreddit, I want to bring a YouTube channel to your attention that I have despised for over half a year now. Some of you veterans may have heard about them, their name is RUN GUYS. To make it short, RUN GUYS is yet another crpyto YouTube channel that banks on peoples desire to get rich quick. They prey on new and naïve members of the cryptocurrency community to get as many clicks as they possibly can. This is the truth about a lot of crypto Youtubers and it's honestly one of the worst aspects of our community. So what have they done? RUN GUYS and a list of other terrible YouTube channels have been shilling con artist Steve McCullah's new sh*t coin GSX. Some of you may remember Steve McCullah from the Apollo Currency scam a few years ago. It seems he has once again rebranded his garbage and re-released it to the world of bag chasing noobs except this time under the name of Apollo Fintech. Besides the fact that we can confirm none of what they claim on their website, their crypto currency isn't even listed on any exchanges. We all hear about the mainstream pump and dump schemes like safemoon and dogecoin, but there is a whole other world of scams and the people endorsing them have hundreds of thousands of followers. TL;DR Be aware noobies, a lot of big crypto youtubers are terrible and will lie to you to make money. https://www.reddit.com/r/CryptoCurrency/comments/mwjv9f/the_worst_kind_of_crypto_youtubers_run_guys/NB: This was posted before GSX was listed on Bitmart Who are the Run Guys?Just in case the picture is blurry: And here are the following tweets from ApolloFintech: and Draw your own conclusions from this.
|
|
|
51
|
Economy / Scam Accusations / Re: APOLLO CURRENCY & SAFEX ARE SCAM YOU HAVE BEEN WARNED!
|
on: June 03, 2021, 10:32:48 AM
|
The Worst Kind of Crypto Youtubers: RUN GUYSNow that I am able to post in this subreddit, I want to bring a YouTube channel to your attention that I have despised for over half a year now. Some of you veterans may have heard about them, their name is RUN GUYS. To make it short, RUN GUYS is yet another crpyto YouTube channel that banks on peoples desire to get rich quick. They prey on new and naïve members of the cryptocurrency community to get as many clicks as they possibly can. This is the truth about a lot of crypto Youtubers and it's honestly one of the worst aspects of our community. So what have they done? RUN GUYS and a list of other terrible YouTube channels have been shilling con artist Steve McCullah's new sh*t coin GSX. Some of you may remember Steve McCullah from the Apollo Currency scam a few years ago. It seems he has once again rebranded his garbage and re-released it to the world of bag chasing noobs except this time under the name of Apollo Fintech. Besides the fact that we can confirm none of what they claim on their website, their crypto currency isn't even listed on any exchanges. We all hear about the mainstream pump and dump schemes like safemoon and dogecoin, but there is a whole other world of scams and the people endorsing them have hundreds of thousands of followers. TL;DR Be aware noobies, a lot of big crypto youtubers are terrible and will lie to you to make money. https://www.reddit.com/r/CryptoCurrency/comments/mwjv9f/the_worst_kind_of_crypto_youtubers_run_guys/NB: This was posted before GSX was listed on Bitmart Who are the Run Guys?Just in case the picture is blurry: And here are the following tweets from ApolloFintech: and Draw your own conclusions from this.
|
|
|
52
|
Economy / Scam Accusations / Re: APOLLO CURRENCY & SAFEX ARE SCAM YOU HAVE BEEN WARNED!
|
on: June 03, 2021, 10:29:10 AM
|
I guess anyone can fall for a scam, most gold-backed projects are fraudulent . I suppose thats the nature in the crypto world now...You have some uneducated (in financial terms) wanna-be people who have no idea with business, don't know their country of residence laws involving securities and tax, voicing their opinion publicly like they know their shit. LOL
Best Quote to sum up todays crypto space: <after due diligence of course>
$500 Client
"I just feel as though with this investment I am about to make in you, that we should understand how our lives are about to change and I need the results and you need to bring them. I am entrusting you with our livelihood and lives".
$50000 Client
"Money sent, thanks"
-Lawrence King?
My quote:
$500 Client
"When lambo"?
$50000 Client
"Money sent"
Why the quote? Unrealistic expectations come from ignorant people.
|
|
|
53
|
Alternate cryptocurrencies / Announcements (Altcoins) / Re: Apollo Fintech's Gold Secured Currency [GSX] backed by Gold
|
on: June 03, 2021, 10:27:45 AM
|
surprisingly, there are traders for this coin. or maybe it is because of the team behind this coin? most gold-backed projects ended up as a scam. so won't be surprised if this one falls into this category. only a matter of time before they totally abandon this project. hopefully people are smart enough not to be lured by gold-backed projects, because in reality, they dont have anything to do with gold. very few that ive seen here that they do have gold assets. I guess anyone can fall for a scam. I completely agree, most gold-backed projects are fraudulent . I suppose thats the nature in the crypto world now...You have some uneducated (in financial terms) wanna-be people who have no idea with business, don't know their country of residence laws involving securities and tax, voicing their opinion publicly like they know their shit. LOL Best Quote to sum up todays crypto space: <after due diligence of course>$500 Client"I just feel as though with this investment I am about to make in you, that we should understand how our lives are about to change and I need the results and you need to bring them. I am entrusting you with our livelihood and lives". $50000 Client"Money sent, thanks" -Lawrence King? My quote:$500 Client"When lambo"? $50000 Client"Money sent" Why the quote? Unrealistic expectations come from ignorant people.
|
|
|
54
|
Alternate cryptocurrencies / Announcements (Altcoins) / Re: Apollo Fintech's Gold Secured Currency [GSX] backed by Gold
|
on: June 02, 2021, 11:07:41 AM
|
The Fake country UAS is suspiciously run by Apollo Fintech and RelativesSteve McCullah does it again by not declaring all details, creating conflict of interest. Hands up if you know the people behind the fake country that Steve has magically prepared to scam people? The Apollo Fintech team (and family) have been covertly station in pseudo-positions of power within UAS in an attempt to give legitimacy to this scam project. Apollo currency APL and GSX are both scams. UAS is not a country but a ruse to trick people. Congresman- Wessel SevensterInterim Labor Secretary- Chad TieckeSecretary Of Housing- Stephanie MoraIn the following picture we can see Wessel Sevenster, Anthony Mokhele (Chairman/Apollo Africa CEO), Willie Boshoff (Director of Operations Apollo Africa) with the Hon. Thesele Maseribane (Minister of Communications, Science and Technology Country Lesotho - no relationship with Apollo). The photo was taken when Apollo met with officials of Lesotho in an attempt to legitimise this scam. Chad TieckeThe following screenshot shows Chad Tiecke working for Apollo Fintech. Very easy character to find on the web. He is into real estate as well. The following are his credentials: Muscatine, Iowa Field Administrative Services Manager Construction Skills: Team Building, Customer Service, Inventory Management, Leadership, Training, Sales, Microsoft Office, Microsoft Excel, PowerPoint, Strategic Planning, Coaching, Outlook, Microsoft Word, Forklift Operator, Marketing, Time Management, Logistics Education: St. Ambrose University 2013 – 2015 Master of Business Administration (MBA), Business Administration and Management, General Iowa Wesleyan College 2009 – 2011 Bachelors of Science, Human Resource Management Iowa Wesleyan College 2009 – 2011 Bachelors of Science, Business Administration Muscatine Community College 2005 – 2009 Associates of Arts, Business Management Focus Experience: Zachry Industrial, Inc. October 2013 – Present Schumacher LC, Durant Warehouse March 2012 – November 2013 The HON Company September 2011 – March 2012 HON Geneva & HON Oak Steel June 2010 – August 2010 Central Region Distribution August 2007 – October 2009 Allsteel August 2005 – August 2007 Related: https://muscatinejournal.com/news/local/muscatine-a-gift-that-keeps-on-giving/article_59695fbc-5498-5ed5-a33d-c2e43b710d4c.htmlhttps://www.ruhlhomes.com/agents/chadtiecke/Stephanie MoraAJ MoraThis man is a fail DJ turned E-Commerce Accounts Manager for Apollo. Why am I showing you his picture under Stephanie Mora? Because they are brother and sister. Info is easy to find on Stephanie. SummaryThere is lot’s of info on the web for Wessel Sevenster, Anthony Mokhele, Willie Boshoff and Stephanie Mora. Just google them. Apollo Fintech staff apparently run the pseudo-country UAS. LOL. A scammer running a scam country that prints scam money to scam you. Special thanks for the info:
|
|
|
55
|
Economy / Scam Accusations / Re: APOLLO CURRENCY & SAFEX ARE SCAM YOU HAVE BEEN WARNED!
|
on: June 02, 2021, 11:06:41 AM
|
The Fake country UAS is suspiciously run by Apollo Fintech and RelativesSteve McCullah does it again by not declaring all details, creating conflict of interest. Hands up if you know the people behind the fake country that Steve has magically prepared to scam people? The Apollo Fintech team (and family) have been covertly station in pseudo-positions of power within UAS in an attempt to give legitimacy to this scam project. Apollo currency APL and GSX are both scams. UAS is not a country but a ruse to trick people. Congresman- Wessel SevensterInterim Labor Secretary- Chad TieckeSecretary Of Housing- Stephanie MoraIn the following picture we can see Wessel Sevenster, Anthony Mokhele (Chairman/Apollo Africa CEO), Willie Boshoff (Director of Operations Apollo Africa) with the Hon. Thesele Maseribane (Minister of Communications, Science and Technology Country Lesotho - no relationship with Apollo). The photo was taken when Apollo met with officials of Lesotho in an attempt to legitimise this scam. Chad TieckeThe following screenshot shows Chad Tiecke working for Apollo Fintech. Very easy character to find on the web. He is into real estate as well. The following are his credentials: Muscatine, Iowa Field Administrative Services Manager Construction Skills: Team Building, Customer Service, Inventory Management, Leadership, Training, Sales, Microsoft Office, Microsoft Excel, PowerPoint, Strategic Planning, Coaching, Outlook, Microsoft Word, Forklift Operator, Marketing, Time Management, Logistics Education: St. Ambrose University 2013 – 2015 Master of Business Administration (MBA), Business Administration and Management, General Iowa Wesleyan College 2009 – 2011 Bachelors of Science, Human Resource Management Iowa Wesleyan College 2009 – 2011 Bachelors of Science, Business Administration Muscatine Community College 2005 – 2009 Associates of Arts, Business Management Focus Experience: Zachry Industrial, Inc. October 2013 – Present Schumacher LC, Durant Warehouse March 2012 – November 2013 The HON Company September 2011 – March 2012 HON Geneva & HON Oak Steel June 2010 – August 2010 Central Region Distribution August 2007 – October 2009 Allsteel August 2005 – August 2007 Related: https://muscatinejournal.com/news/local/muscatine-a-gift-that-keeps-on-giving/article_59695fbc-5498-5ed5-a33d-c2e43b710d4c.htmlhttps://www.ruhlhomes.com/agents/chadtiecke/Stephanie MoraAJ MoraThis man is a fail DJ turned E-Commerce Accounts Manager for Apollo. Why am I showing you his picture under Stephanie Mora? Because they are brother and sister. Info is easy to find on Stephanie. SummaryThere is lot’s of info on the web for Wessel Sevenster, Anthony Mokhele, Willie Boshoff and Stephanie Mora. Just google them. Apollo Fintech staff apparently run the pseudo-country UAS. LOL. A scammer running a scam country that prints scam money to scam you. Special thanks for the info:
|
|
|
56
|
Economy / Scam Accusations / Re: APOLLO CURRENCY & SAFEX ARE SCAM YOU HAVE BEEN WARNED!
|
on: May 30, 2021, 06:48:39 AM
|
Proof Of Reserve - Proof of AuditApollo Fintech claim GSX and APL (coins) are backed by gold and various off the blockchain assets. I hope I’m not the first to ask if there is Proof of Reserve and what independent 3rd party is auditing this? IntroductionApollo Fintech has structured GSX to be backed by off chain assets. In fact we find “The most common form of stablecoin is backed by collateral held “off-chain” (i.e. not on the blockchain)…Stablecoins backed by off-chain collateral operate like a form of e-money, which leverage blockchain technology as a means of payment and store of value…The primary differences between stablecoins is the degree in which a centralized identity retains control over money supply (i.e. who controls issuance and redemption), and the basis of trust in the stablecoin itself (i.e. the underlying assets and technology)”… https://www.dentons.com/en/insights/articles/2020/december/1/the-stablecoin-cryptocurrency-systemWhat would be missing is proof of reserve and more importantly an audit to confirm correct business practices over a period of time. There is no proof demonstrating any asset is backing GSX (or APL). Proof of Reserve Introduction - Nic Carter Proof of Reserves is the idea that custodial businesses holding cryptocurrency should create public facing attestations as to their reserves, matched up with a proof of user balances (liabilities). The equation is simple (in theory): Proof of Reserves + Proof of Liability = Proof of SolvencyThe idea is to prove to the general public, and in particular your depositors, that your cryptocurrency held on deposit matches up with user balances. Of course, in practice, this isn’t quite so simple. Proving that you control some funds on chain is trivial, but you could always borrow those funds on a short term basis. https://niccarter.info/proof-of-reserves/Jason Tyra (Proof Of Reserve is Not an Audit) explains “An audit is a wholistic series of procedures designed to ensure that management’s assertions about the business and its status as a going concern are not improper or obviously flawed”. Jason makes a few assertions on what proof of reserve does NOT include, placing emphasis on correct audit protocols. 1.“Proof of reserves does not consider the completeness or accuracy of customer records. Instead, customers must check for themselves whether they were included in the procedure”. 2.”Proof of reserves does not check the state of reserves before or after the date of the procedure. This means that reserves could have been bolstered just for the procedure, even though they are normally much lower than what is claimed”. 3. “Proof of reserves examines no other assets or liabilities besides bitcoins on hand and deposit records. This means that the exchange could be technically or actually insolvent at the time the analysis was conducted and no one outside the organization would know”. 4. “Proof of reserves does not consider whether the accounting system and security procedures are sufficient and appropriate to prevent theft, embezzlement, or other forms of malfeasance”. 5. “Proof of reserves does not contemplate whether the business is in compliance with applicable laws or whether the management team is qualified and fit for service. This means that the exchange could have 100% reserves and still fail due to regulatory action, taking customer funds down with it”. 6. “…one person carried out the analysis is also problematic. Auditors are required to be independent in word and deed and technically qualified to perform the work”. https://www.tyracpa.com/proof-reserves-audit/SummaryNow I have ask the question: Is there Proof of Reserve and what independent 3rd party is auditing this for Apollo Fintech? I hope everyone did their research asking for this before buying. There is no proof any asset is backing GSX/APL and no independent audit to confirm Proof of Solvency. How do you feel now, at a LOSS?
|
|
|
57
|
Alternate cryptocurrencies / Announcements (Altcoins) / Re: Apollo Fintech's Gold Secured Currency [GSX] backed by Gold
|
on: May 30, 2021, 06:48:07 AM
|
Proof Of Reserve - Proof of AuditApollo Fintech claim GSX and APL (coins) are backed by gold and various off the blockchain assets. I hope I’m not the first to ask if there is Proof of Reserve and what independent 3rd party is auditing this? IntroductionApollo Fintech has structured GSX to be backed by off chain assets. In fact we find “The most common form of stablecoin is backed by collateral held “off-chain” (i.e. not on the blockchain)…Stablecoins backed by off-chain collateral operate like a form of e-money, which leverage blockchain technology as a means of payment and store of value…The primary differences between stablecoins is the degree in which a centralized identity retains control over money supply (i.e. who controls issuance and redemption), and the basis of trust in the stablecoin itself (i.e. the underlying assets and technology)”… https://www.dentons.com/en/insights/articles/2020/december/1/the-stablecoin-cryptocurrency-systemWhat would be missing is proof of reserve and more importantly an audit to confirm correct business practices over a period of time. There is no proof demonstrating any asset is backing GSX (or APL). Proof of Reserve Introduction - Nic Carter Proof of Reserves is the idea that custodial businesses holding cryptocurrency should create public facing attestations as to their reserves, matched up with a proof of user balances (liabilities). The equation is simple (in theory): Proof of Reserves + Proof of Liability = Proof of SolvencyThe idea is to prove to the general public, and in particular your depositors, that your cryptocurrency held on deposit matches up with user balances. Of course, in practice, this isn’t quite so simple. Proving that you control some funds on chain is trivial, but you could always borrow those funds on a short term basis. https://niccarter.info/proof-of-reserves/Jason Tyra (Proof Of Reserve is Not an Audit) explains “An audit is a wholistic series of procedures designed to ensure that management’s assertions about the business and its status as a going concern are not improper or obviously flawed”. Jason makes a few assertions on what proof of reserve does NOT include, placing emphasis on correct audit protocols. 1.“Proof of reserves does not consider the completeness or accuracy of customer records. Instead, customers must check for themselves whether they were included in the procedure”. 2.”Proof of reserves does not check the state of reserves before or after the date of the procedure. This means that reserves could have been bolstered just for the procedure, even though they are normally much lower than what is claimed”. 3. “Proof of reserves examines no other assets or liabilities besides bitcoins on hand and deposit records. This means that the exchange could be technically or actually insolvent at the time the analysis was conducted and no one outside the organization would know”. 4. “Proof of reserves does not consider whether the accounting system and security procedures are sufficient and appropriate to prevent theft, embezzlement, or other forms of malfeasance”. 5. “Proof of reserves does not contemplate whether the business is in compliance with applicable laws or whether the management team is qualified and fit for service. This means that the exchange could have 100% reserves and still fail due to regulatory action, taking customer funds down with it”. 6. “…one person carried out the analysis is also problematic. Auditors are required to be independent in word and deed and technically qualified to perform the work”. https://www.tyracpa.com/proof-reserves-audit/SummaryNow I have ask the question: Is there Proof of Reserve and what independent 3rd party is auditing this for Apollo Fintech? I hope everyone did their research asking for this before buying. There is no proof any asset is backing GSX/APL and no independent audit to confirm Proof of Solvency. How do you feel now, at a LOSS?
|
|
|
58
|
Economy / Scam Accusations / Re: APOLLO CURRENCY & SAFEX ARE SCAM YOU HAVE BEEN WARNED!
|
on: May 29, 2021, 10:25:11 PM
|
Steve McCullah being CAUGHT AGAIN AS A LIAR Apollo Fintech claims GSX returns of 200%-500% in 2021! Isn't that illegal for you to offer your investment advice with your own company Steve? Not to mention only scams promote these returns. People bought GSX after reading your shit. And here is Steve being a LIAR and denying this on YouTube. https://youtu.be/pGNvmOjfa3U?t=495What can I say Apollonaughts.....You invested with the liar Steve. The next step for the SCAMMER STEVE is to create another project to take your money...like a NFT...something in DeFi, anything that is the flavour of the month. This is what a ponzi scheme does...you have been warned.
|
|
|
59
|
Alternate cryptocurrencies / Announcements (Altcoins) / Re: Apollo Fintech's Gold Secured Currency [GSX] backed by Gold
|
on: May 29, 2021, 10:24:19 PM
|
Steve McCullah being CAUGHT AGAIN AS A LIAR Apollo Fintech claims GSX returns of 200%-500% in 2021! Isn't that illegal for you to offer your investment advice with your own company Steve? Not to mention only scams promote these returns. People bought GSX after reading your shit. And here is Steve being a LIAR and denying this on YouTube. https://youtu.be/pGNvmOjfa3U?t=495What can I say Apollonaughts.....You invested with the liar Steve. The next step for the SCAMMER STEVE is to create another project to take your money...like a NFT...something in DeFi, anything that is the flavour of the month. This is what a ponzi scheme does...you have been warned.
|
|
|
|