[ANN] "BitBaY" Commission Bonds thread!

[milly6]

I was under the impression that bitbay was Cassie's project....?

[1714906128]

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[1714906128]

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[cassieheart]

First off i want to tell Bitbays investors that I am sorry you are having to deal with all of this.

I have gave Justin enough time to recant his posts.

I gave justin7674 many options and opportunities, I simply did not want him selling anymore shares for his personal gain.

Bitbay will still be launched without him I was hoping not to air this dirty laundry in public only to investors in pvt. It is very unprofessional.

The code he has is cheap off the shelf turn Key script not worth 100,000+ dollars in shares he wants to sell for himself.

I tried to tell him that the shares where for Bitbays Development not him to spend as he wishes.

I also told him partners would be paid their percentages in the LLC with salary passed through the company not in a Lump some from sold shares.

He would not have any of this. the bottom line is he wanted to sell as many shares as he could for his personal gain.

He sold Shares behind closed doors without me knowing, he told lie after lie doing anything and everything he could to get more money.

I foresaw this coming a few days ago all the pieces to the puzzle came together.

The only thing i am guilty of is trying to protect investors, Bitbay and my name.



Option's that where given to Justin7674.


#1 Continued Partnership and Development with the 5,000+ in shares he had already acquired and used for personal gain not Bitbay.
     Also giving back the money Bitbay did not need to investors. With me taking full control of finances.

#2 Part ways taking taking the code with him and naming his auction site something else using the money he had already acquired.
    Also taking the investor shares he already had with him If they agreed to do so.
    Bitbay would keep the other half for new development, Servers and operational costs.

#3 Partways and Payback the money he had spent for personal gains to Investors and or Bitbay.
    Bitbay would keep the other half for new development, Servers and operational costs.
    Not for personal gain of partners.


 Please read the skype conversation from Justin and I from today it should cover everything else.
  
https://docs.google.com/file/d/0B4DKR2Y9etJQUmtIaTRZQ25uWlk/edit

 
I am going to be scheduling a G+ meeting for all Investors.

 Bitbay will be release soon Bigger and better as we have acquired a new Developer.
 The Remaining funds will be Documented and used for Development and Operational costs Not personal Gain.

 Thank you for your time, patience and understanding.



~CassieHeart

  

[cassieheart]

It is you are correct

I was under the impression that bitbay was Cassie's project....?

[howardb]

Well whoever is right/wrong, you are arguing over value before you have created any!

I can tell you now there is a well established issue with using names similar to an established name in the same or similar line of business. eBay will have you in court before you can blink if you try and get this project going with that name! I know, i looked at identical project 3 years ago!

[JohnDorien]

Now what is it here? I got some shares, do I own these shares for both projects now? Or one, then who's?

dammit solve your issues in private when you got investors onboard!

[cassieheart]

I would have liked to do all this in private but it didn't work out that way. I sincerely apologize for that and yes your shares are still valid.
It looks like as per Justin7674 Bitauction OP he will be transferring all the share he inquired to his new auction site.
and that looks Like it includes your shares.

Now what is it here? I got some shares, do I own these shares for both projects now? Or one, then who's?

dammit solve your issues in private when you got investors onboard!

[daemonfox]

Two things...

1. It is unacceptable to delay important documentation... BitBay may be lost to you because of this and there is almost nothing you can do about it unless you can show some form of document being post dated prior to the other parties applications being sent in.

2. It is ENTIRLY unacceptable to give the PROGRAMMER access and charge of the ENTIRE cash base for a startup. If you wanted to keep your idea and be in charge... you have the responsibility of reigning in the participants by overseeing funding and payments. Allotting shares to a participant also REQUIRES a NDA stating they are unable to solicit money for said shares until a certain milestone is reached.

Huge F ups... and there is nothing that can be done to fix them.

[vesperwillow]

2 times the Cubits coin failed, it's still not being traded anywhere, and now this. This was actually the best idea I've seen in awhile. I guess it's a good thing I couldn't buy in with many shares at the original offering when I tried, but it is still unfortunate. I knew something didn't seem right.

[CheekyChappy]

See these posts:

https://bitcointalk.org/index.php?topic=403076.msg4371647#msg4371647

https://bitcointalk.org/index.php?topic=403076.msg4378402#msg4378402

Two things...

1. It is unacceptable to delay important documentation... BitBay may be lost to you because of this and there is almost nothing you can do about it unless you can show some form of document being post dated prior to the other parties applications being sent in.

2. It is ENTIRLY unacceptable to give the PROGRAMMER access and charge of the ENTIRE cash base for a startup. If you wanted to keep your idea and be in charge... you have the responsibility of reigning in the participants by overseeing funding and payments. Allotting shares to a participant also REQUIRES a NDA stating they are unable to solicit money for said shares until a certain milestone is reached.

Huge F ups... and there is nothing that can be done to fix them.

If the project owner has given full access to cash to a coder then that is a big mistake.... negligent even but quite possibly an honest error, however, the signs look ominous for the investors with regards to getting their funds back as long as someone other than the project owner is in charge.

[Cenron]

See these posts:

https://bitcointalk.org/index.php?topic=403076.msg4371647#msg4371647

https://bitcointalk.org/index.php?topic=403076.msg4378402#msg4378402

Two things...

1. It is unacceptable to delay important documentation... BitBay may be lost to you because of this and there is almost nothing you can do about it unless you can show some form of document being post dated prior to the other parties applications being sent in.

2. It is ENTIRLY unacceptable to give the PROGRAMMER access and charge of the ENTIRE cash base for a startup. If you wanted to keep your idea and be in charge... you have the responsibility of reigning in the participants by overseeing funding and payments. Allotting shares to a participant also REQUIRES a NDA stating they are unable to solicit money for said shares until a certain milestone is reached.

Huge F ups... and there is nothing that can be done to fix them.

If the project owner has given full access to cash to a coder then that is a big mistake.... negligent even but quite possibly an honest error, however, the signs look ominous for the investors with regards to getting their funds back as long as someone other than the project owner is in charge.

From the sounds of this was suppose to be more of a partnership, then an employer, employee relationship. When your a 50/50 partner with someone it is hard to tell them "Well your my partner and have the same rights as me, but i am not giving to access to anything". Her mistake was trusting the wrong person to quick, and trying to gather capital before any real project was put in place.

[CheekyChappy]

From the sounds of this was suppose to be more of a partnership, then an employer, employee relationship. When your a 50/50 partner with someone it is hard to tell them "Well your my partner and have the same rights as me, but i am not giving to access to anything". Her mistake was trusting the wrong person to quick, and trying to gather capital before any real project was put in place.

Let us say it was a 50/50 partnership, it makes no difference now since your only objective is to get your money back. This is what Justin said on the other thread to Daemon:

@justin,

You have a responsibility to allow us to revoke our shares for a full refund, or at least transference of the invested BTC back to Cassie.

Since you did not disclose that these were YOUR allotted shares that we were buying, every one of your early round investors were lied to. We bought shares of "Bitbay" not "coding enhancements by justin" and as such, you need to allow people that request a way to exit without loss.

Consideration on this is very important moving forward if you intend to maintain developing in this community. You basically absconded with investor's funds and forced us into your business model. That is theft, and should anyone decide to take you to court, you would be found guilty.

I would suggest you allow each member on the OP assets list choose what they want to do. Otherwise, you have a very big problem looming overhead.

Also, what is this about you are 17... you do realize if you are not a legal adult... you cannot sign anything legally binding without your guardian also signing, unless you are emancipated. If this is true, your parents are now responsible for all the funds you collected and spent, and they can be liable for reimbursement.

Very troubling to say the least...

10 shares .25 BTC 1DAemoNXFNQxeDQAeRdEg245WvYsCfdgE9

You do not even have to respond if you choose to straight refund me. I will delete my posts from this thread should you do the right thing.

If you believe the site belongs to cassie then ask her for the refund. If you will excuse me I am working on BitAuctions. I will still release as planned. All share holders on the list are locked in.

If you investors do not do something to get your money back ASAP, there will be no money left because he will spend it all!

At least ask both parties how much of your funds each of them actually had before/after the split and how much they have now. Best way out of this is for all investors to get their investment returned, failing that the investment should be returned to Cassie and she should be allowed the opportunity to take your project forward or refund you all.

[transit]

Ok, as an early investor I took a risk with this.

I saw http://www.bitbay.sx/, good design, good name, good idea.

I bought 50 shares. At the beginning it was going to be only 100-150 shares to be sold.

Now what? Over 200 shares sold and this.

The site Justin shows is a POS.

I still think this is a good project if taken seriously.

[CheekyChappy]

Ok, as an early investor I took a risk with this.

I saw http://www.bitbay.sx/, good design, good name, good idea.

I bought 50 shares. At the beginning it was going to be only 100-150 shares to be sold.

Now what? Over 200 shares sold and this.

The site Justin shows is a POS.

I still think this is a good project if taken seriously.

EDIT: I see... sorry for the edit, this site is for Cassie.

BTW, how much did you pay per share?

[vesperwillow]

Bigger question is, what else has been compromised? Cubits v3? Scifi coin exchange? What next? Who's taking the lead on BitBay? Sounds like Cassie was the manager/idea person, but her workforce has taken the work and the money.

Further tinfoil speculation: It was all a ruse to begin with to get coins, and everyone played their parts?

[daemonfox]

Bigger question is, what else has been compromised? Cubits v3? Scifi coin exchange? What next? Who's taking the lead on BitBay? Sounds like Cassie was the manager/idea person, but her workforce has taken the work and the money.

Further tinfoil speculation: It was all a ruse to begin with to get coins, and everyone played their parts?

You can put your tinfoil hat away... what has been aired publicly thus far is the truth... justin (the coder) had direct access to the wallet and repeatedly took the coins to his own wallet as they came in.

FYI, Cassie has been gracious enough to share screen shots with me that help show her side of things, and I now have the entire TX extract from the wallet justin took all the funds from... including every unique address in said wallet before justin cleaned it out completely.

I will be putting together a post tracking every one of these transactions and linking them to blockchain.info so it will be easy to see and publicly known where every piece of the stolen BTCs went.

Just to rehash the above... the wallet clearly shows all BTC being removed shortly after it came in, and Cassie has shown me what wallets she has and their tx details... she only has BTC from the last few investors... everything else from before the last few was taken by justin.

[vesperwillow]

Keep the updates coming.

Aside from the btc, what's the status of who owns the code/rights to bitbay, the idea, etc?

[CheekyChappy]

Sounds like Cassie was the manager/idea person, but her workforce has taken the work and the money.

I think that happens to be the general consensus here.

Could someone please give an indication of how much BTC was invested in the BitBay project and how much was left with each party after Justin left?

Thanks

[daemonfox]

Sounds like Cassie was the manager/idea person, but her workforce has taken the work and the money.

I think that happens to be the general consensus here.

Could someone please give an indication of how much BTC was invested in the BitBay project and how much was left with each party after Justin left?

Thanks

I will reveal this info tonight once Cassie and I have had a chance to go over what I want to post. Cassie has already confirmed what BTC sh has in a previous post... you can see the last 4 PGP signed messages. Those are the only coins she has right now and she is being responsible with them.

Thanks for your patience.

Keep the updates coming.

Aside from the btc, what's the status of who owns the code/rights to bitbay, the idea, etc?

As far as BitBay goes... justin's attempt to steal the name will not work... he is a minor... and his applications will be denied for whatever he tried to register. BitBay is Cassie's idea, the code justin left with was nothing more than edits made to a sub $50 PHP site that was purchased. Safe to bet all he did was implement the BTC related changes as it looks the same as the off the shelf product. Cassie has already started with a new dev with a much nicer layout, but it will take time since this is basically pushing the reset button.

[vesperwillow]

Any personal details on this justin fellow? name, address?

[CheekyChappy]

Any personal details on this justin fellow? name, address?

I think he will see the light of day and refund all investors that no longer want to be (or never wanted to be) part of his project over the Cassie project.