UTRUST

[sockpuppet1911]

I saw a rumour in the chat that the utrust kyc is outsourced to debt collector called Intrum Justita? Can i dismiss this as a fud or do admins confirm it?

I'm afraid that's true, it's in the Terms & Conditions paper. Intrum is a Swiss credit management/debt collection company.


"The Participants warrant and represent to:

a. have read and understood these Terms before participating in an ICO;

b. be solely responsible for the proper functioning of its electronic devices as well as the internet connection, in particular during the identification process performed by Intrum Justitia AG."

Oh my... i should have read it more carefully... i owe Intrum Justitia tons of money, so there goes my invesment... I would have payed them back after making enough profit from crypto but seems like they got a hint that there's money to be made here.

[mrsaint]

Oh my... i should have read it more carefully... i owe Intrum Justitia tons of money, so there goes my invesment... I would have payed them back after making enough profit from crypto but seems like they got a hint that there's money to be made here.

Not much you could have done. The pdf with the terms went online one day after they had already uploaded their "kyc - agree to our terms" page that they required you to agree on before you could get to your dashboard...  

FWIW, I haven't agreed on their new terms (why should I since I didn't participate in the ico), so I am currently not able to get to the dashboard with my tokens from the pre-ico. Will wait and then contact them to see what they can do about it.

[Rigorous]

Why of all possible KYC methods UTRUST has chosen to outsource it to a debt collector and one that looks to have a questionable reputation at that?

[mrsaint]

Does anyone have a link to utrust's smart contract code? I couldn't find it on their website.

[Mystic90]

hmm... its crowsale now?? i dont think i can invest to utrust token.
The SegWit2x hard fork is expected to occur in mid-November of 2017
i still want to get segwit2x 1st

Do you really think you will get more money from segwit2x than from Utrust on long term? I dont think so and if i were you i would still invest a part of your bitcoins in Utrust.

To be honest it's not about get free coins with segwit2x, potentially one of the two chains can die or even both and BCH wins, we must wait what will happen after the fork. But if you're not in bitcoin (like me) who cares?

I am not sure why people thing the fork is great for free money. It hurts security of Bitcoin Network cause it takes away miners. And it hurts the name of Bitcoin. Core and Segwit2x team have been fighting about the real Bitcoin for a long time now

[Elkmar]

Dear Community,

 
We are very happy to announce that we have partnered up with one of the hottest exchanges on the market right now! 🔥 Shortly after the ICO, UTRUST tokens (UTK) will be traded on KuCoin! 🎉
 

I looked at the volumes on this exchange. This is 10 times less than, for example, on yobit. It is good that the token is added to the exchanges, but they are small and do not yet cause trust. Will adding to the exchange with large volumes and good reputation?

If Kucoin starts adding new good projects, then the volume will grow strongly. I advise you to buy kucoins.

I've found that KCS has risen 10x since September ， It's crazy

Its just natural that new exchanges are opening and if this one managed to rise 10x in two months, that really confirms that you have chosen the right exchange.

Maybe other decentralized exchanges will do the same.

[mrsaint]

Why of all possible KYC methods UTRUST has chosen to outsource it to a debt collector and one that looks to have a questionable reputation at that?

Their company in Switzerland, Zug, is a letterbox company, handled by a small local trust firm (eMBe Finanz GmbH). Perhaps the person running that company for them (Marc Brühwiler) is a friend with Intrum Justitia.

Marc Brühwiler can be found in the Swiss press, not exactly the best kind of press:

https://www.beobachter.ch/finanzen/vermogensverwaltung-kapitalfehler-inbegriffen

In short, it's about a scam financial firm. Lots of money got lost somewhere in Latinamerica. Firm was domciled in Panama. Only member of the board was Marc Brühwiler. He then moved on with another company with the slogan "the best for your money", again with Panama as domicile.

Btw, don't you find it strange that the only person of the board of utrust is someone who is not involved with the company?

[Rigorous]

Does anyone have a link to utrust's smart contract code? I couldn't find it on their website.

Good question

Nothing in here. https://github.com/utrustdev

I cannot believe no one brought this lack of smart contract source code up in the past 330 pages. Including myself

[haxllega]

hmm... its crowsale now?? i dont think i can invest to utrust token.
The SegWit2x hard fork is expected to occur in mid-November of 2017
i still want to get segwit2x 1st

Do you really think you will get more money from segwit2x than from Utrust on long term? I dont think so and if i were you i would still invest a part of your bitcoins in Utrust.

To be honest it's not about get free coins with segwit2x, potentially one of the two chains can die or even both and BCH wins, we must wait what will happen after the fork. But if you're not in bitcoin (like me) who cares?

I am not sure why people thing the fork is great for free money. It hurts security of Bitcoin Network cause it takes away miners. And it hurts the name of Bitcoin. Core and Segwit2x team have been fighting about the real Bitcoin for a long time now

It also reduces the worth of bitcoin because it is split between the two bitcoin and segwit2x. This forks would only make sense if they improve bitcoin in a high amount.

[viljy]

Does anyone have a link to utrust's smart contract code? I couldn't find it on their website.

Good question

Nothing in here. https://github.com/utrustdev

I cannot believe no one brought this lack of smart contract source code up in the past 330 pages. Including myself

It is interesting then how the tokens were added to the exchanges if there is no smart contract ...

[Rigorous]

Does anyone have a link to utrust's smart contract code? I couldn't find it on their website.

Good question

Nothing in here. https://github.com/utrustdev

I cannot believe no one brought this lack of smart contract source code up in the past 330 pages. Including myself

It is interesting then how the tokens were added to the exchanges if there is no smart contract ...

That is the thing! The UTRUST tokens have not been distributed yet, let alone added to any exchanges.

How will I receive the UTRUST Token after I send my contribution?
It will be generated a unique address for you in your favorite crypto flavor, you will be using this address to deposit your investment. Any transaction using the given address will count as your contribution to the project.

After a period of 10 days following the ICO closure date, you will be able to add an ETH address to your investor profile in order to withdraw your UTRUST tokens.

If UTRUST is trading anywhere right now I bet they are IOUs, not the real tokens.

At present, we are unable to post a guaranteed list of all exchanges we will work with, as multiple contacts are in progress right now. UTRUST will appear on several exchanges within two weeks after the end of crowd sale. The exact amount of exchanges we are going to be listed on is yet to be defined.

[coinz101]

Does anyone have a link to utrust's smart contract code? I couldn't find it on their website.

Good question

Nothing in here. https://github.com/utrustdev

I cannot believe no one brought this lack of smart contract source code up in the past 330 pages. Including myself

It is interesting then how the tokens were added to the exchanges if there is no smart contract ...

they have it and they announced exchanges. they don't need to have it on github and opensourse it

[Voltaje]

Does anyone have a link to utrust's smart contract code? I couldn't find it on their website.

Good question

Nothing in here. https://github.com/utrustdev

I cannot believe no one brought this lack of smart contract source code up in the past 330 pages. Including myself

It is interesting then how the tokens were added to the exchanges if there is no smart contract ...

The answer is simple if there is an utrust pair being traded, it means that is fake, the smart contract hasn't been deployed yet, nor anybody has the tokens, so if someone started trading, then they were reckt, losing money XD.

[xaviervilla]

The thing is, UTRUST is always being 100% compliant. Other ICOs which I won't mention here already have problems with this. Some of them may run into legal issues in the future, others have problems being accepted by any major exchanges. UTRUST is not about the ICO (yet, it is a vital part!). We are establishing a legal framework that will set out the base for a bright future and years to come.

Our entire team believes firmly in what we are building now and these goals can only be achieved if you do it the right way from the ground up.

Yes, this indeed puts some hurdles into our way in regards to excluding some investors, but in the end we want to be here for the next generation ("Web 3.0") which, in our opinion, is build with blockchain technology! 👏

PayPal's original vision was to replace paper money.

We're definitely onto something big. The need PayPal answers is monumental. Everyone in the world needs money – to get paid, to trade, to live. Paper money is an ancient technology and an inconvenient means of payment. You can run out of it. It wears out. It can get lost or stolen. In the twenty-first century, people need a form of money that's more convenient and secure, something that can be accessed from anywhere with a PDA or an Internet connection. Of course, what we're calling 'convenient' for American users will be revolutionary for the developing world. Many of these countries' governments play fast and loose with their currencies. They use inflation and sometimes wholesale currency devaluations, like we saw in Russia and several Southeast Asian countries last year [referring to the 1998 Russian and 1997 Asian financial crisis], to take wealth away from their citizens. Most of the ordinary people there never have an opportunity to open an offshore account or to get their hands on more than a few bills of a stable currency like U.S. dollars. Eventually PayPal will be able to change this. In the future, when we make our service available outside the U.S. and as Internet penetration continues to expand to all economic tiers of people, PayPal will give citizens worldwide more direct control over their currencies than they ever had before. It will be nearly impossible for corrupt governments to steal wealth from their people through their old means because if they try the people will switch to dollars or Pounds or Yen, in effect dumping the worthless local currency for something more secure.

https://en.wikipedia.org/wiki/Peter_Thiel#PayPal

Now PayPal has banking licenses necessary to process fiat. Both PayPal and their users are not allowed to touch cryptocurrencies.

According to the PayPal Acceptable Use Policy updated on July 1, 2015, using bitcoin to transfer or “top-up” Paypal is “illegal,” as it violates one of the terms of the official policy:

“You may not use the PayPal service for activities that relate to transactions that involve currency exchanges or check cashing businesses”

How can you ensure that the same will not happen to UTrust?

Damn. Paypal really is full of sht. If they said this, it would be really stupid. I think they have not heard the phrase "word of honor".
These guys do not deserve the trust given to them by people.

Now that you've mentioned it, i am starting to wonder already. This is pretty scary. Because if utrust does the same, it will really be bad for the crypto currencies. People will think utrust abandoned cryptos because they are not legitimate or just useless.

[mrsaint]

they have it and they announced exchanges. they don't need to have it on github and opensourse it

They don't need to do anything, as long as you trust them. But - no smart contract available, no sources on github, no technical paper, a letter-box company registered just a couple of days ago in Switzerland with the sole company director who is not listed in the white paper or anywhere else, arbitrary changes to the terms after a sale, and other IMHO red flags mentioned before.

[kraterion]

Does anyone have a link to utrust's smart contract code? I couldn't find it on their website.

Good question

Nothing in here. https://github.com/utrustdev

I cannot believe no one brought this lack of smart contract source code up in the past 330 pages. Including myself

It is interesting then how the tokens were added to the exchanges if there is no smart contract ...

they have it and they announced exchanges. they don't need to have it on github and opensourse it

People are talking about the token smart contract which isn't deployed yet. Investors gave their unique address on Utrust and after ICO they will receive UTK, I've seen many ICOs doing this when you can contribute with more currencies lastly Oxy and Corion

[xaviervilla]

Does anyone have a link to utrust's smart contract code? I couldn't find it on their website.

Good question

Nothing in here. https://github.com/utrustdev

I cannot believe no one brought this lack of smart contract source code up in the past 330 pages. Including myself

It is interesting then how the tokens were added to the exchanges if there is no smart contract ...

The answer is simple if there is an utrust pair being traded, it means that is fake, the smart contract hasn't been deployed yet, nor anybody has the tokens, so if someone started trading, then they were reckt, losing money XD.

Lol. Your right. If it so happens then it means scam.

But let's not jump into any conclusions yet. Let's wait for someone in the utrust team to explain this thoroughly to us.
To be honest, i really doubt that this ICO is a scam. After all the effort they have put into this project? Really won't add up if they are only trying to scam people.

[Rigorous]

Does anyone have a link to utrust's smart contract code? I couldn't find it on their website.

Good question

Nothing in here. https://github.com/utrustdev

I cannot believe no one brought this lack of smart contract source code up in the past 330 pages. Including myself

It is interesting then how the tokens were added to the exchanges if there is no smart contract ...

The answer is simple if there is an utrust pair being traded, it means that is fake, the smart contract hasn't been deployed yet, nor anybody has the tokens, so if someone started trading, then they were reckt, losing money XD.

Lol. Your right. If it so happens then it means scam.

But let's not jump into any conclusions yet. Let's wait for someone in the utrust team to explain this thoroughly to us.
To be honest, i really doubt that this ICO is a scam. After all the effort they have put into this project? Really won't add up if they are only trying to scam people.

True. The smart contract not being published is at odds with the "we advocate full transparency" on their website, but if they wanted to scam they would not do it by keeping the tokens for themselves. The tokens only have value if the product is successful. The way to scam is to not develop the product after getting the funds, and we have seen what happened in the US when someone tried that. https://news.bitcoin.com/sec-charges-real-estate-and-diamond-ico-with-fraud/

[Jay2408]

Does anyone have a link to utrust's smart contract code? I couldn't find it on their website.

Good question

Nothing in here. https://github.com/utrustdev

I cannot believe no one brought this lack of smart contract source code up in the past 330 pages. Including myself

It is interesting then how the tokens were added to the exchanges if there is no smart contract ...

The answer is simple if there is an utrust pair being traded, it means that is fake, the smart contract hasn't been deployed yet, nor anybody has the tokens, so if someone started trading, then they were reckt, losing money XD.

Lol. Your right. If it so happens then it means scam.

But let's not jump into any conclusions yet. Let's wait for someone in the utrust team to explain this thoroughly to us.
To be honest, i really doubt that this ICO is a scam. After all the effort they have put into this project? Really won't add up if they are only trying to scam people.

I don't believe either that this is a scam. But of course, devs need to clarify the things that have come up now.

[Kakumei]

Does anyone have a link to utrust's smart contract code? I couldn't find it on their website.

Good question

Nothing in here. https://github.com/utrustdev

I cannot believe no one brought this lack of smart contract source code up in the past 330 pages. Including myself

It is interesting then how the tokens were added to the exchanges if there is no smart contract ...

The answer is simple if there is an utrust pair being traded, it means that is fake, the smart contract hasn't been deployed yet, nor anybody has the tokens, so if someone started trading, then they were reckt, losing money XD.

Lol. Your right. If it so happens then it means scam.

But let's not jump into any conclusions yet. Let's wait for someone in the utrust team to explain this thoroughly to us.
To be honest, i really doubt that this ICO is a scam. After all the effort they have put into this project? Really won't add up if they are only trying to scam people.

Hi guys,

not sure how some people here misunderstood our message yesterday, but we announced that UTRUST will be traded, not that it is currently traded. UTRUST is not on any exchange, but it will be shortly after. Please don't misinterpret the very statements we release to keep you all in the loop of the partnerships we forge for you! 👌🏻

Does anyone have a link to utrust's smart contract code? I couldn't find it on their website.

Good question

Nothing in here. https://github.com/utrustdev

I cannot believe no one brought this lack of smart contract source code up in the past 330 pages. Including myself

It is interesting then how the tokens were added to the exchanges if there is no smart contract ...

they have it and they announced exchanges. they don't need to have it on github and opensourse it

People are talking about the token smart contract which isn't deployed yet. Investors gave their unique address on Utrust and after ICO they will receive UTK, I've seen many ICOs doing this when you can contribute with more currencies lastly Oxy and Corion

We are not an open source company and never intended to be one. We are also not listed on GitHub (not sure who's profile that is, but it isn't ours). We are also not using a smart contract to collect funds because that isn't possible when you also want to accept Bitcoin (which we do). Smart contracts are only used in projects that only accept Ethereum as a contribution and automatically send tokens back. For several reasons (Bitcoin, KYC, ...) that is impossible to achieve right now.

Hope this helps!