[irregularities] Mass Network

[LupusLepke]

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.

[DaddyH]

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.

[marechoux]

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 !

[robelneo]

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..

[jimbobway]

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.

[OlegS]

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?

[Alohaboy?!]

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

[LupusLepke]

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!

[fortunecrypto]

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.

[marechoux]

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...

[LupusLepke]

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.
 

[drays]

  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..   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

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  

@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

[aioc]

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.

[HomoHenning]

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

[jimbobway]

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).

[drays]

they never said that they will not change bonus structure.
Bonus is just bonus and they can give bonus to anyone they want.

No, they cannot. It is a violation of announced terms, and if those bonuses are given from ICO fund, it is an act of stealing funds from initial investors in favour of new investors. No serious business in real world can do that without legal implications. If they are giving those bonuses out of their pockets - they have the right. But they don't have the rights to brake agreement (Terms) and give bonuses out of their investors pockets.

Someone could probably think I am writing this just to protect my own investment. Thats not the case, not at all. As the very early investor I have enough bonus, and I actually wanted to invest more now, with zero bonus. But after readin this scam-like announcement, I just hold off. This 55% bonus, instead of attracting people, should rather scare them off.

[DaddyH]

Just as we can't ask for our BTC back, Mass are bound not to change the deposit/bonus structure while the ICO period is in flight. There is probably some small print which legally makes this 'ok'. However morally and in terms of investor transparency - it is reprehensible.

I made my investment in September - if I could get my money back now I would. Something is seriously amiss here. Anyone who things these changes are acceptable are probably late investors (with lots to gain) or someone involved with this poor decision making.

What a way to start a project guys.

[peterzz]

That is not fair to the early investor.
The early investor get plus 55% bonus is fair!!

[shirkan]

If mass disrespects shareholders now guess what they will do later.

geez, you are not a shareholder. This is an App Token!!

[massnetwork]

Please pay attention to all the details https://blog.mass.network/final-bonus/

If you are eligible for any of the previous bonuses, the amounts invested before upgrade according to the following “+15% rule”:
The 45% bonus (applied from 25th of August to 15th of September) becomes 60%.
The 25% bonus (applied from 15th to 30th of September) becomes 40%.
The 10% bonus (applied from 1st of October to 1st of November) becomes 25%.
For those who have already invested, this final bonus is bigger too: any new amount invested on or after 25th of November is eligible for the bonus of 65%, not 55%.