ANN - LEOcoin - Official announcement regarding LEOcoin from LEOcoin Foundation

[LEOcoin Foundation]

Over the next few days, I will post parts of the interview. Today part one.

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This interview will not be commented on, but comes as it is for your information only.

I would love to say thank you both for that lovely wall of text, but what information are you referring at? There ware no critical issues discussed or answered here, all info is old and does not reflect the real situation and who even wrote this questions?

It is clear to all now, that you do NOT answer any questions here regarding LEOcoin or LEO_anything but simply post what you are told to post.

I wanted to put few more questions to the list but since you are clearly avoiding the truth, it's pointless.


.: 17k registred users on LEOxChange : Over 190k merchants : Regulations? :.

As stated before: "The interview is an initiative from the LEOcoin Foundation." There will be more and also questions that have been asked here on the forum will be addressed.

[danandanderson]

Over the next few days, I will post parts of the interview. Today part one.

____

...
____


This interview will not be commented on, but comes as it is for your information only.

I would love to say thank you both for that lovely wall of text, but what information are you referring at? There ware no critical issues discussed or answered here, all info is old and does not reflect the real situation and who even wrote this questions?

It is clear to all now, that you do NOT answer any questions here regarding LEOcoin or LEO_anything but simply post what you are told to post.

I wanted to put few more questions to the list but since you are clearly avoiding the truth, it's pointless.


.: 17k registred users on LEOxChange : Over 190k merchants : Regulations? :.

Over 190.000 merchants and I am having trouble finding 1 !?!?

[Cryptotraider16]

Over the next few days, I will post parts of the interview. Today part one.

____

...
____


This interview will not be commented on, but comes as it is for your information only.

I would love to say thank you both for that lovely wall of text, but what information are you referring at? There ware no critical issues discussed or answered here, all info is old and does not reflect the real situation and who even wrote this questions?

It is clear to all now, that you do NOT answer any questions here regarding LEOcoin or LEO_anything but simply post what you are told to post.

I wanted to put few more questions to the list but since you are clearly avoiding the truth, it's pointless.


.: 17k registred users on LEOxChange : Over 190k merchants : Regulations? :.

Over 190.000 merchants and I am having trouble finding 1 !?!?

They never say 190.000 but 32.000!

[Peter78]

They never say 190.000 but 32.000!

In the interview, Dan even suggests that there are 200 000 merchants...

.... with our member base of currently almost 200,000 entrepreneurs and registered merchants all work together,...

Let's see if he will give correct figures later.....

[Cryptotraider16]

Leo have aprox 180.000 members! And there they build 32.000 merchants!

[LEOcoin Foundation]

They never say 190.000 but 32.000!

In the interview, Dan even suggests that there are 200 000 merchants...

.... with our member base of currently almost 200,000 entrepreneurs and registered merchants all work together,...

Let's see if he will give correct figures later.....

Sorry, Peter78, but your conclusion is a riddle to me.

The correct quote is "When we as a company with our member base of currently almost 200,000 entrepreneurs and registered merchants all work together"

I do not see Dan suggesting that there are almost 200.000 registered merchants, but rather stating that there are almost 200,000 entrepreneurs. The merchants - number not stated - come in addition to that. I have no access to the actual number of LEO members, but that will likely indeed be around 200,000. According to the LEO Marketplace website, there are over 32,000 merchants. If these figures are correct, this would mean that the combined total of LEO member and merchants would be around 230,000.

[LEOcoin Foundation]

@LEOcoin Foundation

Thank you for the first part of the interview !

One question:

What is it with the Hong Kong Leo Xchange?

Its launch was celebrated - but is their really a second, separate platform/company in Hong Kong ?

@Peter78

The LEOcoin Foundation is not operating the LEOxChange or has access to their data, their client base, their funds or their IT platform. But with regard to your question I have enquired and can share the following information with the readers of this thread:

a) The LEOxChange is an integrated online platform. This basically means that it can be used and accessed from all over the world. However when it comes to taking deposits and funding accounts in crypto or fiat currencies, different local laws and regulation may be in force. For this reason the LEOxChange has applied for and has been granted the legitimate licences in order to operate an exchange in both London and Hong Kong.

b) In 2016 LEOxChange aspires to acquire similar licences for the USA. This will enable US-citizens to trade and invest LEOcoin in accordance with their own local customs, laws and requirements with regard to taxation, bank transfers and security.

With regard to b, I would like to add that the first steps have already been taken, but that the complexity of the US exchange regulations currently prevents LEOxChange management to be able to state a more accurate timely schedule for the completion of the process. More about the development of the US market will be addresses in the interview.

[Peter78]

1) Thank you very for the information on LeoXChange.

2)

The correct quote is "When we as a company with our member base of currently almost 200,000 entrepreneurs and registered merchants all work together"

I do not see Dan suggesting that there are almost 200.000 registered merchants, but rather stating that there are almost 200,000 entrepreneurs. The merchants - number not stated - come in addition to that.

Sorry, but as it is written now, everyone will think that there are 200 000 merchants!

Otherwise, there must be an additional  world like some/less etc in "200,000 entrepreneurs and some(!) registered merchants".

[LEOcoin Foundation]

1) Thank you very for the information on LeoXChange.

2)

Sorry, Peter78, but your conclusion is a riddle to me.

The correct quote is "When we as a company with our member base of currently almost 200,000 entrepreneurs and registered merchants all work together"

I do not see Dan suggesting that there are almost 200.000 registered merchants, but rather stating that there are almost 200,000 entrepreneurs. The merchants - number not stated - come in addition to that. I have no access to the actual number of LEO members, but that will likely indeed be around 200,000. According to the LEO Marketplace website, there are over 32,000 merchants. If these figures are correct, this would mean that the combined total of LEO member and merchants would be around 230,000.

Sorry, but as it is written now, everyone will think that there are 200 000 merchants!

Otherwise, there must be an additional  world like some/less etc in "200,000 entrepreneurs and some(!) registered merchants".

@Peter78,

as you see, I added the correct quote once more. This is handy, as it states the figures as they are public now.

Now to your conclusion: When I would assert (A) in the garden there are 5 dogs and cats. You suggest that everyone would think that A is stating that there are 5 cats. I do not see how this follows from that statement. Normally one would conclude that there is a total of 5 animals, viz. dogs and cats. In the interview, it does indeed look like that the total of both LEO members and LEO merchants would sum up to 200,000. In my comment, I have pointed at the probably currently adequate numbers.

Please understand, that I present the answers as they were given in the interview.

[Peter78]

@LEOcoin Foundatio

Thank you. Now, it is clear for everyone . :-)

[Peter78]

For this reason the LEOxChange has applied for and has been granted the legitimate licences in order to operate an exchange in both London and Hong Kong.

By the way: It would help A LOT to give more confidence in LeoXChange if there was correct "legal information" on the web site!

Currently, the web site does not even respect the minimum English/EU requirements for commercial web sites.

No company registration number! No EU VAT registration number !

And if LeoXchange has valid banking or similar licences, these MUST be also indicated with there corresponding numbers.

[LEOcoin Foundation]

For this reason the LEOxChange has applied for and has been granted the legitimate licences in order to operate an exchange in both London and Hong Kong.

By the way: It would help A LOT to give more confidence in LeoXChange if there was correct "legal information" on the web site!

Currently, the web site does not even respect the minimum English/EU requirements for commercial web sites.

No company registration number! No EU VAT registration number !

And if LeoXchange has valid banking or similar licences, these MUST be also indicated with there corresponding numbers.

@Peter78

Thank you. I have taken the liberty to forwarded your complaint to the LEOxChange. In case you have more questions for the LEOxChange, please feel free to write them directly: contact@LEOxChange.com

For now, we will await their reply.

[Peter78]

@LEOcoin Foundation

Talking about "legal requirements for web sites".......

I know, you will tell me that it is a "third-party".
But anyway, it is meant to be a major place to promote Leocoin:

http://leomarketplace.com/

I checked their "Terms and Conditions" at

http://leomarketplace.com/MerchantWebShop/termsandconditions.aspx

... Our company number is 07112363 and our VAT number is GB 989 026 181. We refer to ourselves as " LEO", "we", "us" or "our" in this document, and we refer to us and any other companies of the LEO group of companies, including our affiliates, parents and subsidiaries, as " LEO"....

Now if I check that number, I get a completly different company, registered in 2009 !!!

https://beta.companieshouse.gov.uk/company/07112363

[Cryptotraider16]

I am sure when POS start and leoxchange get licences for leocoin in usa and 1 big rich player invest 1-2milion $ big game changer we all wait then miracle and good energy start!
I am sure Dan have ready that players or he is the one too👍🏼😳

[danandanderson]

I am sure when POS start and leoxchange get licences for leocoin in usa and 1 big rich player invest 1-2milion $ big game changer we all wait then miracle and good energy start!
I am sure Dan have ready that players or he is the one too👍🏼😳

Hahaha
Dan is looking to take money and not invest, if he was to invest he allready would.
Leocoin and leo buissines is a pyramide made for stupid people, well maybe it is made for everybody but the way it is run only stupid people can belive in it.
So you think somebody with milions will invest in this? Why? To become a platinum member or whatever they call it haha
Stop with this sci-fi dreams. Leocoin is DEAD!

[wildduck]

Hahahahahah somebody to invest in leo that is funny story

[LEOcoin member]

If anyone is selling at 0.03 GBP or 0.001 BTC I am interested in buy them - I'm only looking for 100k+ please message me.

thanks,

[Cryptotraider16]

If anyone is selling at 0.03 GBP or 0.001 BTC I am interested in buy them - I'm only looking for 100k+ please message me.

thanks,

Man exchange is 0.06£ ... Later you will sale at 1£+ so your profit will be still huge!

[LEOcoin Foundation]

Over the next few days, I will post parts of the interview. Today part two.

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Sketches of LEOcoin
An Interview with LEOcoin co-creator Dan Andersson

LF: LEOcoin Foundation
DA: Dan Andersson


LF: On forums and other crypto world related websites LEOcoin is often regarded as a scam coin, connected with MLM pyramids. How do you deal with that?

DA: Many people do not understand the difference between a pyramid scheme and direct selling. The first is indeed a method to deliberately and systematically cheat innocent people; this kind of scam we obviously reject and therefor opt for transparency and compliance with local laws and due diligence. And I have written a blog on the Huffington Post designed to warn people about scam coins. As we see it, the direct selling industry simply represents a modern distribution strategy to build a worldwide network in a much faster way than would be possible with traditional methods. I am incredibly proud of our industry and have witnessed first-hand its power to fundamentally transform people’s lives.
We do however, understand that as a company which is involved in direct selling we always have to go a step further to gain confidence and have to work harder to earn trust, but this is essentially a good thing; direct selling itself is not the easiest job, yet swimming against the stream makes you stronger and more determined; both are such qualities that will clearly support to the long term success of LEOcoin too.


LF: LEOcoin has a premine of 50 million LEOcoins. Many people, like cryptominers, journalists and investors fear that LEO will dump all of them once the price goes up. Is this worry justified?

DA: No, not at all. Actually, a 5% premine is not that much and we had several good reasons for it.
Firstly, from the start we have been keen on establishing a foundation to support LEOcoin and we wanted to reserve a considerable amount for that. This summer we have donated 10 million LEOcoins to the LEOcoin Foundation. As a social enterprise, registered as a Community Interest Company, the LEOcoin Foundation is not allowed to make a profit and must invest its resources in pursuing its objectives. It is barred from activities that would undermine those objectives to support and expand understanding and interest in digital currencies.
Secondly, we, in this case LEO Ltd., used most of the remaining LEOcoins to promote the LEOcoin and let our members benefit from future developments; both for use as a payment mechanism and for capital building. The overwhelming majority of LEOcoin are in member wallets and with the mining community, not with LEO Ltd. or LEO employees.
The amount of LEOcoins still owned by LEO Ltd only forms a very small part of the total supply. We will of course always support LEOcoin. We will never ‘dump’ any LEOcoins or disturb the price – which is set by the market supply and demand mechanism. I should mention, here, that the UK direct selling regulations that we subscribe to prohibit us from participating in professional currency trading activities. The core business of LEO is education and skills development. We want to unleash human potential through delivering knowledge and give everyone who wants it, the means to become an entrepreneur. LEOcoin perfectly fits in this mission.


LF: Some miners complain that so many LEOcoins were allegedly sold to members and that the mining world was not informed from the start and thus missed the good mining opportunities that arise at the start of a new coin.

DA: Let me first make clear that LEO Ltd. has not sold any LEOcoins for cash to anyone. We did however use LEOcoin as an extra reward for our members and enabled our members to trade LEOcoin amongst themselves. This is part of introducing new audiences to digital currency.
Also quite a few miners got involved from the early stages, but greed and financial gain overrides sharing news with your potential competitors, so yes, it took a couple of weeks before the first mining pools did arise and even longer before it was generally known in the mining community.
Aside from that, we took great care that LEOcoin could be publically mined from the start, just like many other digital currencies. We never made any restrictions or demands in this regard, as we do understand that in order for LEOcoin to be accepted by the crypto world and beyond, you cannot work with a closed system. And up to today, we encourage people to keep on mining and staking.


LF: That sounds reasonable, after all, cryptominers are entrepreneurs too.

DA: Certainly they are and we do understand that they occasionally had to sell some LEOcoins to recover their electricity costs. Many LEO members are involved with mining too, just as LEO corporate, so we know how it works. Also for this reason we opened the LEOxChange so we would create liquidity and LEOcoin could be traded 24/7.
Unfortunately ‘bot mining’ took on unhealthy proportions last year and for that reason LEOcoin will likely switch from a combined POW/POS system to a solely POS mining mechanism.


LF: Well Dan, I am glad you mention the POS option. Most cryptominers will not be overly thrilled in this regard. We have already shared the information from Mr. Ramzan’s Bali presentation with regard to the advantages that POS has to offer, but perhaps you wish to add something to this.

DA: Gladly. In general, we understand that for the crypto mining community, the possibility to mine a digital currency is the core property for their business model. However, the successful mining of LEOcoin is still possible.
Just use the POS mechanism. Normally, miners would purchase new hardware and then use their hashing power to find LEOcoins or other digital currencies. If someone wishes to get more LEOcoins by POS mining, one could simply purchase LEOcoins and then use your wallet to mine/stake more LEOcoin.
The rewards – measured in LEOcoin – will likely be better as with the current mixed POW/POS mechanism, because the botnet hashes will be gone. It will also dramatically reduce your energy costs as an extra advantage. So instead investing in hardware, you finance – as a matter of speaking - a virtual POS mining machine with negligible operational costs and no depreciation. At the same time, your stack can be scaled up or down 24/7 with the use of the POS mining mechanism and the LEOxChange. This makes risk and money management extremely easy.

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This interview will not be commented on, but comes as it is for your information only.

[Peter78]

@LeoCoin Foundation

Great Interview so far. Thank you.

The amount of LEOcoins still owned by LEO Ltd only forms a very small part of the total supply.

It would help tremendously to build confidence if you could - please - ask to get the exact value of "very small part".

We are all business men and investors. And as such we are used to get exact figures....