TokenPay just gave the middle finger to its U.S. investors (!)

[srqrebel]

TokenPay has just announced that TPAY will no longer be offered for purchase by United States citizens or United States residents, will be cancelling existing purchases from U.S. citizens and residents, and will be offering refunds based on the price paid.  Which presumably means in Bitcoin.  Which has dropped substantially in fiat valuation since the ICO debuted.  They took Bitcoin from U.S. investors at $19,000 value, and are now refunding while it's at $14,000.

Talk about adding insult to injury.

These are the people who copied the Spectrecoin (XSPEC) wallet and then advertised themselves as the most secure crypto. (HELLO - they are using Spectrecoin's signature tech -
 of course it's secure!)  Thankfully XSPEC does not discriminate and is open to all. And for 1/4th the price!

[HippiePyro]

Wow that's a whole new kind of scam. They start taking there ico when Bitcoin was on it's way to $20k. Now they "refund" at $14k. If 10% of the investors were from America, that's roughly $6M they pocket, based on how much they claimed to have raised. I wonder if they will refund their awesome bonus's too. I've said it before and I'll say it again. TokenPay can't be trusted. It's a scam by inexperienced people taking advantage of newbs. They clearly didn't even do their due diligence in the fields of their project concept. I'm glad I stayed away from this project and went with proven technologies.

[japaninja]

Poor execution and planning from the TokenPay team. Just goes to show how unprofessional some of these start ups can be.

A simple google search of their technology platform and roadmap should have already showed them how a previous company called TenX already tried to do EXACTLY what they were doing (in fact even better) but failed because of government regulation. Are these even working professionals or kids coding in their mom's basement? Lol.

[sarfwr]

TokenPay, a company that is just starting out with a bit of a problem, is wise not to face American residents because of the possible policy risks.

[Shova]

Surely that was well planned. One way or other they were intended to dump US investors and gain with their newly implemented terms. If it was not the falling of bitcoin's price, they would have refunded the investors in USD value.

[cryptohunter]

seems its 13k now

oh well ico runners gotta make bank in this down turn haven;t they .... don't be selfish

[Valzador]

TokenPay has just announced that TPAY will no longer be offered for purchase by United States citizens or United States residents, will be cancelling existing purchases from U.S. citizens and residents, and will be offering refunds based on the price paid.  Which presumably means in Bitcoin.  Which has dropped substantially in fiat valuation since the ICO debuted.  They took Bitcoin from U.S. investors at $19,000 value, and are now refunding while it's at $14,000.

Talk about adding insult to injury.

These are the people who copied the Spectrecoin (XSPEC) wallet and then advertised themselves as the most secure crypto. (HELLO - they are using Spectrecoin's signature tech -
 of course it's secure!)  Thankfully XSPEC does not discriminate and is open to all. And for 1/4th the price!

I think it's been planned, they already know that playing with an american investor is a big mistake, a planned scam strategy. good game, tokenpay.

[zenhu]

ah surprising and shame on them for sure. but yeah they still make refund

[srqrebel]

I mean, I feel bad for the people who invested in this ICO thinking they were getting the best of both worlds - only to be jilted at the worst possible time.  Most of them had no idea that the technology was copied from a lesser known innovator in the crypto realm, which takes user anonymity very seriously and would never cater to old guard banking regs - and at a fraction of the price (as of yet).

[trainasauruswrecks]

Christ.  
So they:

1. Try to market tech as their own fork of Shadowcash when it clearly isn't a fork of Shadowcash.
2. They then sell coins for 6USD?! using this open source wallet that they claim is their invention.
3. They actually get investors who use btc to get the tokens.
4. They get the FIAT for BTC.
5. The price drops and they refund the BTC at a lower value.
6. And the investors get no Tokenpay tokens?

So Tokenpay got an interest free loan.  
The investors lost opportunities to invest in a more worthwhile coin or project.

Just me, but I'd be miffed.

[floyd1987]

TokenPay has just announced that TPAY will no longer be offered for purchase by United States citizens or United States residents, will be cancelling existing purchases from U.S. citizens and residents, and will be offering refunds based on the price paid.  Which presumably means in Bitcoin.  Which has dropped substantially in fiat valuation since the ICO debuted.  They took Bitcoin from U.S. investors at $19,000 value, and are now refunding while it's at $14,000.

Talk about adding insult to injury.

These are the people who copied the Spectrecoin (XSPEC) wallet and then advertised themselves as the most secure crypto. (HELLO - they are using Spectrecoin's signature tech -
 of course it's secure!)  Thankfully XSPEC does not discriminate and is open to all. And for 1/4th the price!

This would make me furious if I had fallen victim to this. Just reading about it makes me a little sick, and I saw this coming from miles away. Anyone who copy/pastes someone else's work and then passes it off as their own doesn't have the best character, which strongly suggests some future nefarious action(s) in the future. That reason alone was enough for me to avoid TPAY.

On top of that, since XSPEC's development team is focused on developing cutting edge privacy technology, instead of just swiping it from someone else who did the work, I value XSPEC more.

[Tone147]

TokenPay this ICO wallet I downloaded the version of Windows, but found that I couldn't sync the data, so I chose to give up the ICO because I didn't know how to solve the problem of the sync wallet.

[drpixou]

Is this for some law or new gubernamental stuff?

[srqrebel]

Is this for some law or new gubernamental stuff?

They did not specify.

[bitcoinbox]

Is it necessary to remember that investing in an ICO or in a blockchain related project is always extremely risky?
There is never any guarantee that you will get your investment back when things don't go according to plan.

[IlfarIldarovich]

It seems that large people are driven to 8-10 BTC to $. But already there should buy ,wait for a good moment to periscope

[limmousine]

This is a bad decision from tokenpay and there may be many investors who are disappointed at this decision. I was confused and regretted, why this is not announced before ico started.

[LupeKidman]

Wow, big news. Seems like it all was planned, right?

[sakokinak]

TokenPay has just announced that TPAY will no longer be offered for purchase by United States citizens or United States residents, will be cancelling existing purchases from U.S. citizens and residents, and will be offering refunds based on the price paid.  Which presumably means in Bitcoin.  Which has dropped substantially in fiat valuation since the ICO debuted.  They took Bitcoin from U.S. investors at $19,000 value, and are now refunding while it's at $14,000.

Talk about adding insult to injury.

These are the people who copied the Spectrecoin (XSPEC) wallet and then advertised themselves as the most secure crypto. (HELLO - they are using Spectrecoin's signature tech -
 of course it's secure!)  Thankfully XSPEC does not discriminate and is open to all. And for 1/4th the price!

I had been going to put some money on this platform. But now see that the things are not goes smoothly. So I think it is better to hold and operate my money in some other places. Thanks for information.

[yluna88]

People have been spamming about TokenPay in order to get referrals. Now it seems that the spammers' referral bonuses will be deducted too if they referred US participants...