PinkApp.io is a SCAM

[whoeier]

The amount of funds they want to collect is just insane.I worked in the adult scene in my youth and was dealing with big players and you can trust me noone would ever spend $5.000.000 for such a service.Even not close to that.And they want to raise a total of $55.000.000 .Asking myself where people think will come the benefit ?
Adultfriendfinder which was #1 worldwide has been sold to hustler for $500.000.000 at glory days with all its customers and i know that they pushed their sales extremly hard by loosing profit to sell it at that price.Today they wouldn't even get 1/3.

So pink is demanding $5.000.000 for an app and plattform which barly will cost $200.000 .
Great deal isn't it ?

And hiding themself from public just shows they have no clue about that business.They could just open a company in Netherland,Germany,Switzerland or Spain and it would be 100% legal

I read and reread every thread and what came into my head was: Wow these ICOs are turning many scammers into millionaires.


as @Thule said, Why did not you open a company in a country where it was legal and so you would show your face?

And you're asking for a lot of money without showing your face.

Please explain me more about your extrajurisdictional company? How this can be legal?
If you can really make it legal, this could be one very promising project.

Legality is defined on a specific jurisdiction. It's legal to sell Kinder Eggs in some places, but not in the U.S. Sex work, and all the surrounding work (advertising, accounting, payment handling) is not fully legal in any specific existing jurisdiction. And even if it were, even if Pink could be fully licensed in Australia for instance, it would still be offering illegal services in the U.S. The U.S. could then apply legal pressure on Australia to extradite us or otherwise cause problems. Or the next time we're travelling, they could grab us, even illegally. In short, it is not a good tactic to rely on the legal protection of a particular country.

To work around this, we do not operate in any particular jurisdiction. We are extrajurisdictional. Easier said than done! To get it done, we use tight opsec to ensure anonymity of our core team and server platforms. More details here: https://medium.com/@PinkApp/pink-app-trading-latency-for-anonymity-and-other-techniques-815ee21c6da4

By having a very small core team, we can operate outside of existing jurisdiction, and thus they cannot enforce their laws on us. Think of it as a pocket of cyberspace allowing cypherpunk libertarian values. As far as it being legal, that depends on who you ask. The US Government will not agree: We are offering shares that are not regulated by the SEC, but the US says we must register with the SEC. So it's an impasse. They insist it applies, we insist it does not. Unless they defeat our security systems then physically grab us they cannot do much about it. And even if they do physically grab us, we are setting up contingency plans to allow investors to select a successor team to control the platform and run it. Same contingency plan if we were to all suffer a heart attack or other disaster.

This is not our first rodeo, and our design as linked above has received very positive feedback. Once we are funded, we will seek a third party security audit, to assure people, even more, that our opsec remains onpoint.

being something that involves investor money, you should do things that do not violate the law

If you check the ann-thread I've played the same game, asked them why not get in a country where sex-working/support to sell is allowed ( Like the Netherlands ), their response was simple "what if the USA seizes the servers ( possible, but hard to do so by law) etc. etc. ).

Brad left no room open for it, this dedication in staying hidden, was the reason I directly moved out of investing.

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[earnmoneyonl]

interesting thread, although there wasn't a doubt for me not to put any money in sex-related projects. too shady for me.

[bradpink]

The amount of funds they want to collect is just insane.I worked in the adult scene in my youth and was dealing with big players and you can trust me noone would ever spend $5.000.000 for such a service.Even not close to that.And they want to raise a total of $55.000.000 .Asking myself where people think will come the benefit ?
Adultfriendfinder which was #1 worldwide has been sold to hustler for $500.000.000 at glory days with all its customers and i know that they pushed their sales extremly hard by loosing profit to sell it at that price.Today they wouldn't even get 1/3.

So pink is demanding $5.000.000 for an app and plattform which barly will cost $200.000 .
Great deal isn't it ?

And hiding themself from public just shows they have no clue about that business.They could just open a company in Netherland,Germany,Switzerland or Spain and it would be 100% legal

This is a common analysis by technical-oriented people whom are not thinking of the business implications.

No one would spend $5.000.000? How much do Ashley Madison billboards cost? Anyone that thinks you're going to spend $200K and have a viable business is not correct. Why not use your logic on Uber! They already have the software built. Maintaining it with 50 people for half a million each is only $25M a year. Servers will not cost more than that. Hence: Why is their burn rate higher than $50M?

At PinkDate consider: If we were to offer $500 sign-up incentives to escorts to join and promise to check PinkDate once a day for 2 months and we signed up 500, that's $250K right there. Look at our whitepaper. Escort and client incentives make up the bulk of our costs. At the beginning we must spend heavy to grow fast and spend to keep clients and providers happy, even if they are in the wrong. This is not cheap.

Do note that we reduced our ICO to $20 MM because we do not at this time need $50 MM. $20 MM is enough to handle a large drop in crypto and other setbacks yet still allow big growth.

With jurisdiction I explained it before but again:

0. Most sex-legal countries have regulations we would not meet. The very premise is void. Proof: The big sex and dating companies would already be doing exactly what PinkDate is suggesting...the idea is not novel...but yet they do not. Why?

To continue... assume there is a country that does not care about our business. That we are the first to have this idea.

1. US ignores law. Look at The Pirate Bay or Mega-Upload. Violation of local law and rights is not an obstacle.
2. US can make up things, accuse us of human trafficking, for example. They could take FBI tactics and plant people to claim trafficking and attempt extradition or legal attack with that cover. They have clever people working for them that will do what they can to bend us into non-compliance.
3. US can choose their time and place. They can charge us, get extradition requests, wait until one day we step foot into a US-friendly jurisdiction...
4. Privacy is damaged. We will have to respect search requests by the local authority, and that authority will allow foreign countries to get search requests. See Protonmail legal incident list for more info.
5. The laws may change. Sex work is in a fluid state legally-speaking. It would not be surprising to see a country change legislation in a way that might impact us.
6. It adds a lot to operating costs because at some point we will end up fighting it in court. Even if we win this is distracting for business.
7. Legal playing-field unfairly benefits well-funded competition.

The smartest thing is a layered defense: Utilize those jurisdictions that help us, but utilize Tor and privacy tech as well! For instance: We have some servers in friendly countries.

[tirailleur]

OMG, 3 months passed and here yo are again. For the god sake, you've made new roadmap and new ico. It's just ridiculous, go away.

[NickRey]

I was brought on as Interim CEO, to help with the business model, step up marketing and work on formal incorporation in a jurisdiction that is friendly to PinkDate's business

By now, with the interaction in the slack channel and telegram, people aren't wondering PinkDate is a s c a m , but wondering if they should invest.
Can't give you an opinion on that.
All ICOs are risky. But so far, many have made a lot of money for their investors.
PinkDate might be the risky investment that makes the 50X returns like XRP. Can't say.
But for sure, we are working too hard to be a scam. It would have been much easier to spend 99% of time on marketing a scam, than to do what we are doing. Then again, if I was scamming you, that is what you'd expect me to say, right?

Look at our update white paper, join the slack channel. Ask tough questions, than you can see what you think.

Also, our President is visible and has gone to Crypto events in the UK, Florida, Netherlands, San Fran and today, Mexico at the www.Anarchapulco.com event.  Epic.

Twitter  @GoPinkDate   and @SarahPinkDate.

So, now it's back to work....
Nick

So, nobody will react on this?

[tirailleur]

changing name of scam, changing domain name, changing fake accounts on bitcointalk. Thats it?