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Author Topic: [irregularities] Mass Network  (Read 73725 times)
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LupusLepke
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November 26, 2016, 09:21:46 PM
 #481

Why is there a 55% bonus for late buyers?  As an early buyer of ICO I feel scammed.
they are saying they will explain.
Where are they saying they will explain? I see no blog posts, no notifications, no twitter messages, no facebook message, no reply to a reddit post about this and no response from support. Where is that hot-line were we can expect an explanation?

I stand corrected. ^^
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November 26, 2016, 09:32:38 PM
 #482

Why is there a 55% bonus for late buyers?  As an early buyer of ICO I feel scammed.

they are saying they will explain.

I hope so. Otherwise this is just massive ignorance on mass network.  You don't screw over existing shareholders.  This is equivalent to massive dilution and unheard of.

This is what was meant. It's going to be on the website soon (pls accept our apologies we might have some delays during the weekend):

1) Let us express the apology for the confusion and explain the procedures.

2) If you are eligible for any of the previous bonuses, the amounts invested before upgrades according to the following +15% schedule:
(a) 25 August 2016 (00:00:00) - 15 September 2016 (11:59:59) PST  —  45% —> 60%
(b) 15 September 2016 (12:00:00) - 30 September 2016 (23:59:59) PST    25% — 40%
(c) 1 October 2016 (00:00:00) - 1 November 2016 (23:59:59) PST — 10% —> 25%

3) For those who have already invested, any new amount invested on or after 25 November 2016 (18:00:00) is eligible for the bonus of 65%, not 55%.

Still doesn't make sense to me.. (3) For those who have already invested during the bonus periods 25-08 / 01-11 get 65% on any additional investment regardless of previous commitment. NEW investors get no bonus?
  
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November 26, 2016, 09:40:29 PM
 #483

Why is there a 55% bonus for late buyers?  As an early buyer of ICO I feel scammed.

they are saying they will explain.

I hope so. Otherwise this is just massive ignorance on mass network.  You don't screw over existing shareholders.  This is equivalent to massive dilution and unheard of.

This is what was meant. It's going to be on the website soon (pls accept our apologies we might have some delays during the weekend):

1) Let us express the apology for the confusion and explain the procedures.

2) If you are eligible for any of the previous bonuses, the amounts invested before upgrades according to the following +15% schedule:
(a) 25 August 2016 (00:00:00) - 15 September 2016 (11:59:59) PST  —  45% —> 60%
(b) 15 September 2016 (12:00:00) - 30 September 2016 (23:59:59) PST    25% — 40%
(c) 1 October 2016 (00:00:00) - 1 November 2016 (23:59:59) PST — 10% —> 25%

3) For those who have already invested, any new amount invested on or after 25 November 2016 (18:00:00) is eligible for the bonus of 65%, not 55%.

Still doesn't make sense to me.. (3) For those who have already invested during the bonus periods 25-08 / 01-11 get 65% on any additional investment regardless of previous commitment. NEW investors get no bonus?
  

they get 55% not 65%
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November 26, 2016, 09:41:57 PM
 #484

Why is there a 55% bonus for late buyers?  As an early buyer of ICO I feel scammed.
they are saying they will explain.
Where are they saying they will explain? I see no blog posts, no notifications, no twitter messages, no facebook message, no reply to a reddit post about this and no response from support. Where is that hot-line were we can expect an explanation?

I stand corrected. ^^

it was supposed to be uploaded in the form of the wordpress blogpost but got f**d up due to the weekend. It will be on the main page on the next morning in SanFrancisco
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November 26, 2016, 09:52:05 PM
 #485

Why is there a 55% bonus for late buyers?  As an early buyer of ICO I feel scammed.

they are saying they will explain.

I hope so. Otherwise this is just massive ignorance on mass network.  You don't screw over existing shareholders.  This is equivalent to massive dilution and unheard of.

This is what was meant. It's going to be on the website soon (pls accept our apologies we might have some delays during the weekend):

1) Let us express the apology for the confusion and explain the procedures.

2) If you are eligible for any of the previous bonuses, the amounts invested before upgrades according to the following +15% schedule:
(a) 25 August 2016 (00:00:00) - 15 September 2016 (11:59:59) PST  —  45% —> 60%
(b) 15 September 2016 (12:00:00) - 30 September 2016 (23:59:59) PST    25% — 40%
(c) 1 October 2016 (00:00:00) - 1 November 2016 (23:59:59) PST — 10% —> 25%

3) For those who have already invested, any new amount invested on or after 25 November 2016 (18:00:00) is eligible for the bonus of 65%, not 55%.

Still doesn't make sense to me.. (3) For those who have already invested during the bonus periods 25-08 / 01-11 get 65% on any additional investment regardless of previous commitment. NEW investors get no bonus?
  

they get 55% not 65%

So investors from period (a) go from 45% -> 5% (b) from 25% to -15% (c) from 10% to -30% compared to the new base at +55% for new investment? Only earliest investors trump it by that 5% and earlier investors who make additional investment.. 9%? Please feel free to correct me if I am wrong.. which I hope I am.
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November 27, 2016, 12:57:26 AM
 #486


So investors from period (a) go from 45% -> 5% (b) from 25% to -15% (c) from 10% to -30% compared to the new base at +55% for new investment? Only earliest investors trump it by that 5% and earlier investors who make additional investment.. 9%? Please feel free to correct me if I am wrong.. which I hope I am.


If this is the case this is crazy, crazy, crazy dilution and eviserating  early shareholders.  Whoever thought of this did not think this through.  This is common knowledge in the Wall Street world.  You don't do this.  This is scam levels.

Remember when Mark Zuckerberg diluted Facebook shares and he betrayed his friend who wanted to kill him?
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November 27, 2016, 02:14:43 AM
 #487

If this is true (late investors are now rewarded better than folks who've had their btc invested for months) then I'm dumping this as soon as i get my coins. I don't believe successful ventures pull such desperate stunts.

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November 27, 2016, 02:58:02 AM
 #488

This is really crazy, and not professional.

That really look like they just want more money and don't care at all...I will not send a satoshi anymore to this...

Be carefull massnetwork, you are going to create an army of people against you and your project !
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November 27, 2016, 02:58:33 AM
 #489

If this is true (late investors are now rewarded better than folks who've had their btc invested for months) then I'm dumping this as soon as i get my coins. I don't believe successful ventures pull such desperate stunts.

A lot of confusion here,let us wait for the dev to explain all of these,this project takes almost 7 months to take off,I agree that the distribution of bonus is not fair to all investors,but I'm sure dev has a clear explanation for this,Mass Network in my opinion has a good project in crypto currency industry and we don't want dev to mess up just with this distribution issue..

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jimbobway
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November 27, 2016, 03:39:48 AM
 #490

The only solution I can see is if the bonus coins are taken from the devs or from the 30% that are continually distributed.

I'm starting to want my bitcoins back.
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November 27, 2016, 05:37:37 AM
 #491

3) For those who have already invested, any new amount invested on or after 25 November 2016 (18:00:00) is eligible for the bonus of 65%, not 55%.

Scam. This can backfire!
Mass they need? What for?
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November 27, 2016, 11:51:44 AM
 #492

The only solution I can see is if the bonus coins are taken from the devs or from the 30% that are continually distributed.


Yes this would ensure that there is no dilution for the early investors. The very early investors got involved with a bigger risk compared to others. I hope they will find a way to don´t mess the whole thing up.
It´s not really a bonus if everyone gets one either

Bitdegree██  ██  █
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November 27, 2016, 12:07:12 PM
 #493

The only solution I can see is if the bonus coins are taken from the devs or from the 30% that are continually distributed.
Yes this would ensure that there is no dilution for the early investors. The very early investors got involved with a bigger risk compared to others. I hope they will find a way to don´t mess the whole thing up.
It´s not really a bonus if everyone gets one either

It doesn't matter where it comes from. when you start giving 55% to new investors you push early investors into the negative. Bonuses would pretty much be erased with (b) and (c) even having to pay extra to participate early.. which is simply rediculous, who ever came up with this bright plan should be fired on the spot.

I've asked but so far no reply : So investors from period (a) go from 45% -> 5% (b) from 25% to -15% (c) from 10% to -30% compared to the new base at +55% for new investment? Only earliest investors trump it by that 5% and earlier investors who make additional investment.. 9%? Please feel free to correct me if I am wrong.. which I hope I am.

Very curious what the explanation for this is going to be and where it went wrong in translation. And besides that it's crazy that no-one jumps in from the mass.network to put an end to this speculation!

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November 27, 2016, 02:26:00 PM
 #494

The only solution I can see is if the bonus coins are taken from the devs or from the 30% that are continually distributed.


Yes this would ensure that there is no dilution for the early investors. The very early investors got involved with a bigger risk compared to others. I hope they will find a way to don´t mess the whole thing up.
It´s not really a bonus if everyone gets one either

Sounds logical,crypto currency investment is like a domino effect,it's the early investors who should be the one rewarded the most,since they are the one who takes not only the risk but they are the one that first shown to people that it is ok to invest here.



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November 27, 2016, 02:54:15 PM
 #495

The only solution I can see is if the bonus coins are taken from the devs or from the 30% that are continually distributed.

I'm starting to want my bitcoins back.

Actually that does not really solve the problem as early investors would still be less rewarded than new ones...
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November 27, 2016, 02:54:47 PM
 #496

If this is true (late investors are now rewarded better than folks who've had their btc invested for months) then I'm dumping this as soon as i get my coins. I don't believe successful ventures pull such desperate stunts.

It would not even be a stunt.. It would be pure theft (if true) of yet to be (if ever) released mass-assets. I can not find any logic behind this move. And seeing the YoBit clann in full force on this thread makes me feel even more weary about this investment.
 
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November 27, 2016, 03:10:07 PM
 #497

 Huh Ridiculous.. This move is just ridiculous, and is illegal as well, as it is a violation of initial Terms... Late investor bonus + change of terms at the very end - this is a clear scam pattern. It reminds me of very big notorious Russian scam called HashProfit - they also were introducing big bonuses just before closing down..  Angry Is this indeed a scam?
I have never thought I would write those words about this project - the only project I ever recommended in my signature...

I am shocked Undecided

I just hope the project owners will come here, ask for apologies, tell this was just weekend effect (friday evening), and they were drunk.

I still carry this project in my sig, but am seriously thinking about removing it  Angry

@massnerwork: take the time to contact one of your project advisors, and ask them whether this change of terms is considered legal anywhere in real world! Them come here and explain us.

I am waiting for explanations and apologies from devs

... this space is not for rent ...
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November 27, 2016, 04:01:11 PM
 #498

It's been 25 days that I'm promoting Mass Network in my signature link although I'm still a little bit concern about the flaw,but the dev needs a good answer,so they can regain investors trust again I'm hoping that the answer is good and the explanation is clear.

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November 27, 2016, 06:56:26 PM
 #499

Huh Ridiculous.. This move is just ridiculous, and is illegal as well... Late investor bonus + change of terms at the very end - this is a clear scam pattern. Is this indeed a scam?  I have never thought I could write this about this project - the only project I ever recommended in my sig...

I am waiting for explanations and apologies from devs
this is not a scam. they never said that they will not change bonus structure.
Bonus is just bonus and they can give bonus to anyone they want. there are also other successful icos which changed the bonus during ico e.g. decent
the problem was that they just rised not enough btc and had to move up the bonus for late investors. this was a very smart move and for the best for all


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jimbobway
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November 27, 2016, 07:46:42 PM
 #500

this is not a scam. they never said that they will not change bonus structure.
Bonus is just bonus and they can give bonus to anyone they want. there are also other successful icos which changed the bonus during ico e.g. decent
the problem was that they just rised not enough btc and had to move up the bonus for late investors. this was a very smart move and for the best for all

The problem here is that it is not really a bonus.  There is a finite supply of mass coins.  If they give a bonus that means they essentially take coins from early investors and redistribute it to late investors.  It is a redistribution of wealth.

If they had said beforehand that there was a set amount of coins for "advertising" to be used to promote mass, then yes, I would be okay them using those advertising coins for bonuses.  They need to clarify where those bonus coins come from.  Remember, 70% of the coins is initial offering and 30% to the devs if I remember correctly.  So, nothing was said about any other allocation of coins, (so this is scam-like).
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