https://medium.com/@GetGems/getgems-and-beyond-d178117f520

This is the only important information in that sad excuse they call an "update”.


Congrats to Daniel and the team for dodging that question for so long.

It’s easy to speak the truth when there’s no one left to hear it.

Daniel is playing the careful game of disassociating from GG whilst trying to avoid any public backlash from doing so.

This means engaging investors on the forum, but only privately. (The majority of ICO buyers were never active on Telegram/GG and likely never used the app.)

GG is a huge liability to his reputation. Even if GG wasn’t a failed project, or a scam, just being associated with crypto is bad enough when trying to sell software to the banks.

If he reaches any success with PayKey (doubtful), the spotlight will soon find GG, and he will immediately leave the project, if he hasn’t already by that time.

In spirit, of course, he left GG about a year and a half ago, and hasn’t talked about it publicly since.

I thought it was weird that Daniel removed his name off of the iOS getgems app, and not the Android version.

But now, after 3+ months of no updates to the Apple App Store, it appears that they've abandoned the platform.

This would make sense if the lead iOS developer (Alon) is solely working on PayKey.

https://play.google.com/store/apps/details?id=org.paykey.innobank

Getgems by Decentralized Mobile Applications LTD

https://itunes.apple.com/app/id942306232

Here's what it used to say:

https://web.archive.org/web/20160415165104/https://itunes.apple.com/app/id942306232

I guess it's time to erase his name off of this shipwreck.

Hypocritical much?

The idea that Daniel has unlocked all the money, but left some of it in Tom's possession, and after 18-months of pure silence Tom will become receptive to the community's concerns...

... it's the same wishful thinking you had when you were shilling GG as recently as mid-February.

They don't need to satisfy the milestone conditions to unlock the funds. They only need to satisfy whatever agreement they had with the multisig partners.

How do you think these partners are compensated?

Likely from the very funds that they have been hired to safeguard.

There is zero chance of that money being returned to investors.

Not trying to hate but...

After all this time, you still haven't grasped the very basics of the crowdsale/milestone concepts that were presented in 2014.

Yes, all the money is in Daniel's hands.

Tom from Koinify was hired for that explicit purpose.

Last thing I saw posted in General Discussion was a copy/paste of the QA. So it's definitely happening.

In other news, June 3 arrived.

Looks like 2.1m gemz still on Polo. Not everyone got the message...

PayKey is fundamentally a bad idea.

You’re not going to convince mainstream users to swap out their default keyboards. Especially when it has nothing to do with typing.

But even if you could, so what?

So you can transfer fiat to another member of your bank without leaving your preferred instant messenger?

Being platform agnostic has little value. Mainstream users just don’t give a shit.

They'll use whatever FB/Apple/Beiber tells them to use, especially if it's already shoved in their face.

PK is a hack to circumvent the big players. It offers nothing but that hack. Which is a major problem.

Finishing the milestones = mission complete.

They don't have to deliver anything more in the future.

They don't have to communicate with anyone.

They just need to put a lid on any bad press until they've secured funding for PayKey.

They've done that by herding the tiny group of remaining ICO holders into a low-key chatroom, where Daniel's "advisor" can discreetly manage their emotions.

The rest of us are branded as toxic FUD spreaders, who've just somehow predicted this mess many months earlier.

Well, I put it to the test for my final airdrop withdrawal to Polo.

Going on 4 hours now without it showing...

Try sending Gemz on-chain. They never got it working right.

The only GG features that are solid are the ones inherent to Telegram.

Everything else is buggy, half-finished, or useless.

If you belong to the company's Telegram channels, you would've noticed that a single person runs the show now.

This person (DavidRAllen) made an odd admission in chat recently that he isn’t a paid employee. Another person in chat asked him to elaborate, and he deflected the question.

David was introduced in the March 2016 newsletter, despite being with the company since 2014. He is referred to as a "friend" of Daniel’s with no job title given.

He's also missing from GG's staff profiles (2014-2015, archive.org). But does appears on PK’s website...

Perhaps Daniel tasked an outside "advisor" to represent the company to avoid any self-incriminating statements an actual employee might make if they responded to the community.

Whatever the case, it appears impossible to find out who works for the company, as they deleted most of GG's website after PK’s debut.

Does GG have complete or partial overlap with PayKey, or is PK an entirely separate entity? Even diehard supporters say they want clarification.

Daniel definitely lurks in the channels. He sometimes accidentally hits buttons on his keyboard. The longer he stays silent, the more it becomes obvious he has something to hide.

At least before the delisting announcement, he could claim that everything was going as planned, and go back to ignoring everyone.

But now he must explain how he’ll build an economy that runs on a token that’s virtually worthless.

It’s as if the coin was created without the crowdsale ever happening.

The final milestone has 3 conditions, and only one of them was met.  

Where is the content analysis feature for targeting advertisements?

Where is the unsolicited paid private messaging service?

The best answer I could get from David was that they are still coming.

So how does the company have all of the money right now?

Because the milestones were purely symbolic. We knew that the day they tossed everything out for Telegram.

On the spreadsheet, Gems should be called Getgems, and their website is Getgems.org

Their token is called Gemz, and the ICO price at launch was close to 5800 sat, and increased thereafter until the end of the ICO period.

On May 23, 2016, Poloniex announced they were delisting Gemz on June 3rd.

Hope that helps.

In the best possible light, the company took a massive gamble.

They delayed and detoured GG's development believing that their coin would survive the wait.

Poloniex gave them 1.5 years to get something going before the delisting. Even some positive buzz during that stretch would have probably saved the coin.

They risked GG's future to pursue PayKey, and they lost. The coin that is. They still have a messaging client with a base of users and PK. Two things that will not repay investors their money. Because the coin is dead.

They have only described that loss as a "disappointment". 

No apology. No admission of their direct role in producing that outcome. Just a tough reality, for coinholders.

I started receiving personal attacks from David, the guy that's seemingly in charge of GG now.

Yesterday, he hinted that he had accessed my wallet data, saying that I had lied to everyone about the status of my coins.

And today I received the “can I call you by your real name” thinly-veiled dox threat.

They closed the BTT thread in favor of their General Discussion chatroom. Then they closed that for an invite-only QA format room.

Contain, contain, contain.

Remember Tom from Koinify?

The guy who "vetted" Daniel and his team in Israel before the ICO?

Nice how he vigilantly protected the community's best interests, even after going out of business.

That final milestone had 1 out of 3 conditions met. Good enough, I guess...

The coin is dead.

But it's a load off their shoulders for 5 minutes of bad news.

They can now accept BTC/fiat for a traditional revenue stream.

The app came out quickly because they switched to Telegram instead of developing their own app.

This was one of many "surprise" events that have steadily eroded the coin's value.

Most of the conversation here isn't even about the app (GG).

That dream died in 2015.

Even if PayKey was a GG "asset", and we were entitled to any of its profits, I would have still vehemently opposed its development.

I didn't fund this project to build a fiat payment app for banks.

Daniel could have at least asked the community for feedback. Instead he claims he needed to keep PK secret due to patent laws.

As if abandoning the roadmap to pursue a stealth project using the ICO money is somehow warranted in that circumstance.


When do we start voting, Daniel?