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Author Topic: Bounty Payout Scam (Mark.Space) - Less than 5% of agreed tokens paid out  (Read 472 times)
Pistacia
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April 09, 2018, 08:36:18 AM
Last edit: April 14, 2018, 09:34:52 PM by Pistacia
Merited by pushups44 (3)
 #1

TLDR: MARK.SPACE ICO project promised 0.5% of "overall ICO pool" to Bounty Participants (15,000,000 tokens), change rules over night, pay out less than 5% of the agreed token amount (686,068.5).    


as the "mark.space bounty" campaign came to its end suddenly they changed the total amount and paid less than 5% of what was promised.

The facts are all there for us all to see in their own documents :


- The Bounty Thread states:
- We will distribute 0.5% of overall ICO pool

- The Whitepaper states 15 million tokens (0.5% of the overall ico pool): https://i.imgur.com/tBFRQPv.png


https://mark.space/files/wp/WP_en.pdf (see page 35)
backup so they can't simply change it: http://docdro.id/xxX7Hpb





- MARKSPACE! make sure that you fix this ASAP and make things right!

their Bounty Thread: https://bitcointalk.org/index.php?topic=2312131.0
their ANN Thread: https://bitcointalk.org/index.php?topic=2294605.0


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Lauda
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April 09, 2018, 08:40:19 AM
 #2

Welcome to human greed. Roll Eyes

So...  MARK.SPACE team pays out only 4.84% of what was promised. WTF?

When exactly did the pay this out, i.e. how much time has passed since people raised the problem of the inadequate payout?

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Pistacia
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April 10, 2018, 11:54:37 AM
Last edit: April 11, 2018, 08:30:59 PM by Pistacia
 #3

Welcome to human greed. Roll Eyes

So...  MARK.SPACE team pays out only 4.84% of what was promised. WTF?

When exactly did the pay this out, i.e. how much time has passed since people raised the problem of the inadequate payout?

MARK.SPACE administrators say that April 15 is the day they pay out. However, as we can all see, no reaction towards the facts or the accusations so far...

as much as I dislike to say this, I actually suppose they're going to actually try to pay out the 4.84% only and get away with it...  of course they cannot

perhaps all the ICO money got to their heads and makes them blind to the fact that this will significantly damage their projects reputation.

Pistacia
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April 11, 2018, 05:48:07 PM
Last edit: April 11, 2018, 06:27:28 PM by Pistacia
 #4

WOW.   they went ahead and did it.   They paid out less than 5% of what they promised.   That's not good

Proof (Bounty Campaign official sheet):
https://docs.google.com/spreadsheets/d/16bEHvJPrq18QMK-3JY8gjxrM21nU9MbAaEjkH2OMM6I/edit#gid=909454647




what was the agreement: 15,000,000 MRK   (see https://i.imgur.com/HnT1CWA.png?1 - directly from the whitepaper. 15M.)

what they arbitrarily say now  "total for distribution  686,068.5 MRK"


Only 4,57379% of the promised bounty was paid out

95,42621% missing.


Speechless - I'm genuinely curious, has there ever been a comparable bounty scam on Bitcointalk?
kerstman
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April 12, 2018, 09:48:35 PM
 #5

Not saying it's fair, but they did update the bounty post.

TOTAL TOKENS SOLD: 145305220,5 MRK

0,5% * 145305220,5 MRK = 726526 MRK ALLOCATED FOR OUR BOUNTY CAMPAIGN

15mil tokens is 10% of what they sold in ICO Smiley wouldn't have been fair for the ones paying money for the tokens.
Pistacia
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April 13, 2018, 04:50:22 AM
 #6

Not saying it's fair, but they did update the bounty post.

 thanks for repeating the crucial point.  the Mark.space scammers "updated" the rules just when all the bounty work had been done.

An absolute no-go.  arbitrarily changing the rules?   This has nothing to do with being fair or not - it's all about deceiving people intentionally.

Not trustworthy.

Should they not pay out the remaining amount, red trust on their account is inevitable
kerstman
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April 13, 2018, 06:30:27 AM
 #7

Not saying it's fair, but they did update the bounty post.

 thanks for repeating the crucial point.  the Mark.space scammers "updated" the rules just when all the bounty work had been done.

An absolute no-go.  arbitrarily changing the rules?   This has nothing to do with being fair or not - it's all about deceiving people intentionally.

Not trustworthy.

Should they not pay out the remaining amount, red trust on their account is inevitable

You're not logical anymore, you're just pissed off and no matter what anyone says,  you're set with your own ideas.
They changed the bounty rules, that THEY MADE INITIALLY. Who says they can't change their own rules? It was even during the bounty, you didn't discover this when they transferred you the tokens.
By the looks of it, it's just a mathematical mistake as the 15 mil stated on the whitepaper is 0.5% out of the total token pool, not even from the ICO pool. They're not making you rich man Smiley try again.

I do hope they don't pay out 15 mil tokens to bounty with 150 mil sold in ico otherwise investors would be more pissed off than you are.
Pistacia
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April 13, 2018, 07:02:24 AM
Last edit: April 13, 2018, 07:17:17 AM by Pistacia
 #8

Not saying it's fair, but they did update the bounty post.

 thanks for repeating the crucial point.  the Mark.space scammers "updated" the rules just when all the bounty work had been done.

An absolute no-go.  arbitrarily changing the rules?   This has nothing to do with being fair or not - it's all about deceiving people intentionally.

Not trustworthy.

Should they not pay out the remaining amount, red trust on their account is inevitable

You're not logical anymore, you're just pissed off and no matter what anyone says,  you're set with your own ideas.
They changed the bounty rules, that THEY MADE INITIALLY. Who says they can't change their own rules? It was even during the bounty, you didn't discover this when they transferred you the tokens.
By the looks of it, it's just a mathematical mistake as the 15 mil stated on the whitepaper is 0.5% out of the total token pool, not even from the ICO pool. They're not making you rich man Smiley try again.

I do hope they don't pay out 15 mil tokens to bounty with 150 mil sold in ico otherwise investors would be more pissed off than you are.

What you say now makes it even worse.

First off I'm not "pissed" - it's a matter of truth. This is not about emotions but hard facts.
Second, it's not my job or interest to determine what their reasoning behind this is, be it a calculation error/mathematical incompetence or just simply utter greed - whatever the reason may be, the fact is that people have been deceived - apparently intentionally - and less than 5% of what was agreed upon has been paid out. Unless this is fixed, they are liars, and scammers.

It is not acceptable by any means to state "0.5% of the overall ICO pool" / "15 million bounty fund" for the ENTIRETY of the campaign, just to change it to less than 5% of that when the payout approaches. And they are insanely brazen by not even communicating this sudden change.

Get your campaign right and cut the crap
Pistacia
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April 14, 2018, 09:32:13 PM
 #9

Not saying it's fair, but they did update the bounty post.

 thanks for repeating the crucial point.  the Mark.space scammers "updated" the rules just when all the bounty work had been done.

An absolute no-go.  arbitrarily changing the rules?   This has nothing to do with being fair or not - it's all about deceiving people intentionally.

Not trustworthy.

Should they not pay out the remaining amount, red trust on their account is inevitable

You're not logical anymore, you're just pissed off and no matter what anyone says,  you're set with your own ideas.
They changed the bounty rules, that THEY MADE INITIALLY. Who says they can't change their own rules? It was even during the bounty, you didn't discover this when they transferred you the tokens.
By the looks of it, it's just a mathematical mistake as the 15 mil stated on the whitepaper is 0.5% out of the total token pool, not even from the ICO pool. They're not making you rich man Smiley try again.

I do hope they don't pay out 15 mil tokens to bounty with 150 mil sold in ico otherwise investors would be more pissed off than you are.

Outside of the cryptocurrency space, arbitrarily changing rules is regarded as unethical and can even lead to lawsuit. It amazes me when people assume the cryptocurrency space is immune to the rules of other industries.

Yes!

It's a real shame - just look how quiet the mark.space administrators have become since they collected all the money and severely cut the bounty program. Not even an answer.  Zero care given.

The users shouldn't let them get away with this!


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April 14, 2018, 09:55:53 PM
 #10

Not saying it's fair, but they did update the bounty post.

TOTAL TOKENS SOLD: 145305220,5 MRK

0,5% * 145305220,5 MRK = 726526 MRK ALLOCATED FOR OUR BOUNTY CAMPAIGN

15mil tokens is 10% of what they sold in ICO Smiley wouldn't have been fair for the ones paying money for the tokens.

Bounty hunters do not receive the tokens for free -- they work for it. Also, in this sector filled with fraud, keeping one's word is extremely valuable. Bounties are done because they are essential to marketing.

Yeah..they do Smiley tbh, i had a look at the bounty links, shares and everything. Funny how people with 1-2 followers, 1-2 likes took part of this, but let's say this is not subject of our discussion.
Funny also how you say bounty hunters "work" for this when the project did not sold all their tokens. Not saying this is at fault but it's part of it.

So you're expecting bounty hunters to get rich off 15mil tokens while the project suffers?
It was adjusted DURING the bounty (people could have bailed off) when it was clear that not all tokens will be sold, and again my opinion is that it's fair.
It the project would have sold ALL ico tokens, why not give 15 mil to bounty, or actually 5% of the ICO pool, which is again not 15mil.

You people are stuck on an idea and call this project a scam because of it. I would get a life instead if i were you.

@Pistacia man, you were hoping for 1mil tokens, right?
Btw...you need to find another title for your topic. They did pay %5 of the tokens sold. You're misleading people into thinking this is actually a scam
Lauda
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April 15, 2018, 07:26:12 AM
Last edit: April 15, 2018, 02:04:08 PM by Lauda
Merited by pushups44 (2)
 #11

It the project would have sold ALL ico tokens, why not give 15 mil to bounty, or actually 5% of the ICO pool, which is again not 15mil.
-snip-
The whitepaper clearly stated '15 million tokens (0.5% of the overall ico pool)', regardless of how many got sold. If the project failed to sell as much as they had hoped for, that is their own problem. They have committed fraud by arbitrarily, extremely[1] changing the amount distributed.

[1] I find small changes on the go acceptable[2], as people can just quit in the middle of the process. However, optimally the changes that get announced should only apply for the upcoming (not past) weeks of the campaign.

It seems suspicious that someone with just 5 posts has come in so invested in this topic.
This forum is infested with sockpuppets, don't take their words very seriously.

[2] Things move extremely fast in crypto, although I can already predict people complaining about any changes. Lack of understanding begets nothing.

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tendy263
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April 15, 2018, 12:32:17 PM
 #12

They scammed us
enjoyingthesunonmybalcony
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April 16, 2018, 01:57:19 PM
 #13

a project of such large size would surely want to put things right rather than ignoring scam accusations. Because negative trust ratings have very bad implications on Bitcointalk, effectively damaging the project's reputation over the long-term. In the crypto world transparency is a must. Cutting bounty rewards like that is unprofessional.

I'd would expect them to fix it by paying the correct amount ASAP to restore trust
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April 16, 2018, 04:26:18 PM
 #14

They aren't the only ones to do this. Bezop also done this to their bounty hunters so it is a common scam. Shame this happens which is why people are moving to bountyhive and other similar companies to avoid ICO scammers who refuse to pay
https://bitcointalk.org/index.php?topic=3043384.0

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ZhuldyzKaladinova
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April 21, 2018, 07:02:14 AM
 #15

The strangest part about this is that those guys don't even reply.  If you care about your project you certainly reply, it's just the way it goes. If you care about your community you definitely don't ignore this. I can not help but feel that what they created "MARK.SPACE" for is to collect ICO funds for their own enrichment. It surely seems that way. The project itself is only secondary, at best.
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April 22, 2018, 12:08:21 PM
 #16

Thank you for raising this issue. I also participated in their bounty campaign but after the end of the campaign they paid less than what they promised. Participants asked this question to the bounty manager, he did not take responsibility and no one was able to find justice for him. With this article you have helped investors recognize their dishonesty
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May 07, 2018, 09:59:05 AM
 #17

Have the devs replied yet ?
Pistacia
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May 07, 2018, 02:19:54 PM
 #18

Have the devs replied yet ?

No, no reply at all. Meanwhile the MRK token is trading 30% below the ICO price.
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May 07, 2018, 02:37:34 PM
 #19

Have the devs replied yet ?

No, no reply at all. Meanwhile the MRK token is trading 30% below the ICO price.
Yes the price is really tanking
Pistacia
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May 07, 2018, 02:39:24 PM
 #20

Have the devs replied yet ?

No, no reply at all. Meanwhile the MRK token is trading 30% below the ICO price.
Yes the price is really tanking

MARK.SPACE is prime example of a project that was designed solely to enrich its founders with BTC+ETH.  Zero care given about the investors/supporters.

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