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Author Topic: [Donated $2k+ To Charity] Clean Water Coin: A Crypto Charity (Pure PoS)  (Read 182262 times)
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YouIsPeng
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April 01, 2014, 02:29:18 AM
 #821

The 13 btc PLC purchase after closing of the IPO doesn't look good ....Can the Dev show us the TX id of the deposit into escrow . This would show the time of the purchase and probably make the PLC investors feel better. I do believe this would be simple enough ....Since the big investor may not have purchased before the deadline.  I imagine you checked the time and didn't just take the investment at the other PLC purchasers expense..   In any event if this is not possible, or you screwed up and didn't check. I am glad to be part of this good example of what cryptos can do to better the world in which we live . Best Regards

e6958489bf24f2326451e89ce84a6d12c1d3ada58a426068f537a7adfae797d0

No PhattyBanks, that is the TX id FROM the supposed Escrow service.

I have checked the blockchain and the 13 BTC came from address 1KCRoV48QzxeXbshRoERhisVy2pD5pPitd at 00:11 on launch day (over 2 hours after the launch)

If this was an Escrow service address, the funds should have been sent to this address a couple of hours earlier from the investor, just before the launch as the devs claim.

The process would look like this:

1) Investor sends TX of 13 BTC to escrow service at (Launch Time minus 30-45 minutes) on March 31st as Devs claim
2) Escrow service confirms with both parties that transaction can proceed
3) Escrow service sends TX of 13 BTC to Clean Water PLC

However, 1KCRoV48QzxeXbshRoERhisVy2pD5pPitd has only ever been used for 2 transactions and the first one was on the 7th of March when address 1L7ncAj9DdQ6gFAykoxsTF8N5whjEvB9G1 sent it 48.36 BTC.

In other words, a wallet with 48.36 BTC made a DIRECT PAYMENT of 13 BTC to the PLC address WITHOUT THE USE OF ANY ESCROW SERVICE.

To make it simpler:

1) 'Anonymous Investor' (Devs) had 48.36 BTC sent to their wallet on 7th March
2) 'Anonymous Investor' (Devs) scammed everyone out of half their coins by sending themselves 13 BTC on 31st March.

If the Devs would like to comment how this could be possible if an Escrow service was in fact used I will be most interested to have it explained to me how funds that HAVEN'T MOVED SINCE MARCH 7TH can be sent DIRECTLY to the PLC without going through any third party address.

Or they could just STOP BULLSHITTING and send everyone the coins they are owed.

If they were smart, they could have moved the funds to another address half an hour before launch, then sent them to the PLC. This would have looked like an Escrow service had been used. Obviously they thought we were all too stupid to catch them out.

Everyone can check this here: https://blockchain.info/address/1KCRoV48QzxeXbshRoERhisVy2pD5pPitd

Blockchain doesn't lie.
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April 01, 2014, 03:05:42 AM
 #822

I'm not demanding the coins be sent, the investor probably would have dropped coins in either way and what's done is done.  Investor beware.  But I think the folks at CWC may have jeopardized the whole thing with this last minute behind the scenes deal.  The right thing to do would have been to tell the last minute "big money" to invest like everyone else, not give them special treatment that seriously effected the other EXTREMELY faithful investors who are playing by your rules.  It kind of makes you guys look like dicks, and that's not a super great image when you're trying to convince people you're in it for charity.  

The whole thing sounds fishy and ruins any sort of transparency and trust you might have had before now.  



This whole coin is about Charity and yet all these people complain about is their Investment and how much ROI they're making off it.

LOL

+100,000,000

ya'll are trippen like maniacs

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April 01, 2014, 03:13:16 AM
 #823

The 13 btc PLC purchase after closing of the IPO doesn't look good ....Can the Dev show us the TX id of the deposit into escrow . This would show the time of the purchase and probably make the PLC investors feel better. I do believe this would be simple enough ....Since the big investor may not have purchased before the deadline.  I imagine you checked the time and didn't just take the investment at the other PLC purchasers expense..   In any event if this is not possible, or you screwed up and didn't check. I am glad to be part of this good example of what cryptos can do to better the world in which we live . Best Regards

e6958489bf24f2326451e89ce84a6d12c1d3ada58a426068f537a7adfae797d0

No PhattyBanks, that is the TX id FROM the supposed Escrow service.

I have checked the blockchain and the 13 BTC came from address 1KCRoV48QzxeXbshRoERhisVy2pD5pPitd at 00:11 on launch day (over 2 hours after the launch)

If this was an Escrow service address, the funds should have been sent to this address a couple of hours earlier from the investor, just before the launch as the devs claim.

The process would look like this:

1) Investor sends TX of 13 BTC to escrow service at (Launch Time minus 30-45 minutes) on March 31st as Devs claim
2) Escrow service confirms with both parties that transaction can proceed
3) Escrow service sends TX of 13 BTC to Clean Water PLC

However, 1KCRoV48QzxeXbshRoERhisVy2pD5pPitd has only ever been used for 2 transactions and the first one was on the 7th of March when address 1L7ncAj9DdQ6gFAykoxsTF8N5whjEvB9G1 sent it 48.36 BTC.

In other words, a wallet with 48.36 BTC made a DIRECT PAYMENT of 13 BTC to the PLC address WITHOUT THE USE OF ANY ESCROW SERVICE.

To make it simpler:

1) 'Anonymous Investor' (Devs) had 48.36 BTC sent to their wallet on 7th March
2) 'Anonymous Investor' (Devs) scammed everyone out of half their coins by sending themselves 13 BTC on 31st March.

If the Devs would like to comment how this could be possible if an Escrow service was in fact used I will be most interested to have it explained to me how funds that HAVEN'T MOVED SINCE MARCH 7TH can be sent DIRECTLY to the PLC without going through any third party address.

Or they could just STOP BULLSHITTING and send everyone the coins they are owed.

If they were smart, they could have moved the funds to another address half an hour before launch, then sent them to the PLC. This would have looked like an Escrow service had been used. Obviously they thought we were all too stupid to catch them out.

Everyone can check this here: https://blockchain.info/address/1KCRoV48QzxeXbshRoERhisVy2pD5pPitd

Blockchain doesn't lie.


No point posting much until this giant wall of red text is addressed well enough to stop more large walls of red text from hijacking the thread. I hope everything is above board, the above post certainly raises some questions, such as what time zone is being shown in the blockchain info. https://blockchain.info/tx/e6958489bf24f2326451e89ce84a6d12c1d3ada58a426068f537a7adfae797d0

(2014-03-31 00:11:10) <------What time zone, and is that received/confirmed/or sent time?

If that's 10 minutes past launch, it makes sense that someone could have SENT the coins before deadline, but it didn't confirm until after deadline, in which case there would be no harm or no foul.

I have not seen a transaction history of an escrow transaction from a new wallet, so I wouldn't know what looked different than a normal wallet transaction, which any third party could use, kind of like a third party escrow agent.




The good news is that the Bittrex price is now at 0.00000649 BTC. Despite a possible IPOGATE, there is much promise for growth still.
CleanWaterCoin
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April 01, 2014, 03:32:40 AM
 #824

I don't know what to say other than we already explained exactly what happened:

Quote
Regarding the 13 btc, that came in from one investor about 30-45 min before launch. Since it was such a large sum they wanted an escrow and we obliged. To be honest, we were so busy prepping for the launch I didn't pay it much attention because I wasn't entirely sure they were serious. We had a good number of BTC come in up until a minute or two before 2 pm PST, which is when the PLC closed. We didn't accept anything after that time, but it did take me an hour our two after launch to finish listing all the info. I don't know how I can prove the 13 BTC came from a legitimate source without revealing the guy's identity, but I absolutely won't do that without his permission. I posted the TX ID and you can see we received that full amount so it's not a trick to retain coins--that would be counter-intuitive. We wouldn't spend all this time and effort to be transparent and then try to deceive users and keep coins.

We don't have 48 BTC, I wish we did. If that was the case we wouldn't have offered any Pre-Launch Coins because we wouldn't have needed any. It's a sad moment to have people drag your name through the mud and make false accusations because of greed. I'm sorry that someone investing caused you to receive less coins but that doesn't make us liars.

CleanWaterCoin.org | A Crypto Charity
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April 01, 2014, 03:32:54 AM
 #825



WATER.HASHING.AT


Lightning fast servers!

Only 1% fee - payments are sent every 5 minutes.

PPLNS - STRATUM - VARDIFF

You can register here anytime and here you can create your workers.

IRC: #hashing @ Freenode - http://help.hashing.at/ - support@hashing.at


YouIsPeng
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April 01, 2014, 03:44:15 AM
 #826

I'm sorry that someone investing caused you to receive less coins but that doesn't make us liars.

1) You said all investments must be made before launch.
2) You allowed an investment after launch.

If you want to keep your Mega-Investor anonymous, you could at least name the Escrow service that was used? That might at least give us something we can check..
BTCspoon
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April 01, 2014, 03:46:41 AM
 #827

I don't know what to say other than we already explained exactly what happened:

Quote
Regarding the 13 btc, that came in from one investor about 30-45 min before launch. Since it was such a large sum they wanted an escrow and we obliged. To be honest, we were so busy prepping for the launch I didn't pay it much attention because I wasn't entirely sure they were serious. We had a good number of BTC come in up until a minute or two before 2 pm PST, which is when the PLC closed. We didn't accept anything after that time, but it did take me an hour our two after launch to finish listing all the info. I don't know how I can prove the 13 BTC came from a legitimate source without revealing the guy's identity, but I absolutely won't do that without his permission. I posted the TX ID and you can see we received that full amount so it's not a trick to retain coins--that would be counter-intuitive. We wouldn't spend all this time and effort to be transparent and then try to deceive users and keep coins.

We don't have 48 BTC, I wish we did. If that was the case we wouldn't have offered any Pre-Launch Coins because we wouldn't have needed any. It's a sad moment to have people drag your name through the mud and make false accusations because of greed. I'm sorry that someone investing caused you to receive less coins but that doesn't make us liars.

So in other words, you are saying that the IPO is here to cover your personal need. Self charity, nice concept indeed, so much for the Nonprofit... .

Edit: BTW i archived the 43 pages in one PDF and forward it to charity water, curious to read what they think about it now. cheers.
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April 01, 2014, 04:07:55 AM
 #828

This is not the first altcoin to innovate sending percentages of block rewards or tx fees to a charity address. Charitycoin has been doing this for months.

https://bitcointalk.org/index.php?topic=448269.0

I have no affiliation with Charitycoin or CWC but at least Charitycoin is not mixed up in this pre-investment scandal.  Their launch was unprofessional but they seem to have their hearts in the right place and are transparent without controversy now.  While I agree that making profit is a good incentive for people to donate to charity, this coin seems to have focused on it too much and if this "NPO" is making a profit off charity... that speaks for itself.



kelvinliong
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April 01, 2014, 04:08:07 AM
 #829

I don't know what to say other than we already explained exactly what happened:

Quote
Regarding the 13 btc, that came in from one investor about 30-45 min before launch. Since it was such a large sum they wanted an escrow and we obliged. To be honest, we were so busy prepping for the launch I didn't pay it much attention because I wasn't entirely sure they were serious. We had a good number of BTC come in up until a minute or two before 2 pm PST, which is when the PLC closed. We didn't accept anything after that time, but it did take me an hour our two after launch to finish listing all the info. I don't know how I can prove the 13 BTC came from a legitimate source without revealing the guy's identity, but I absolutely won't do that without his permission. I posted the TX ID and you can see we received that full amount so it's not a trick to retain coins--that would be counter-intuitive. We wouldn't spend all this time and effort to be transparent and then try to deceive users and keep coins.

We don't have 48 BTC, I wish we did. If that was the case we wouldn't have offered any Pre-Launch Coins because we wouldn't have needed any. It's a sad moment to have people drag your name through the mud and make false accusations because of greed. I'm sorry that someone investing caused you to receive less coins but that doesn't make us liars.

So in other words, you are saying that the IPO is here to cover your personal need. Self charity, nice concept indeed, so much for the Nonprofit... .

Edit: BTW i archived the 43 pages in one PDF and forward it to charity water, curious to read what they think about it now. cheers.
The dev means that they need money for the charity. He never talk about personal usage.
Are you drunk?

Let's color the MOON: YENui1eF9LuVpZiTdp8Vf4G77cgnnkDDTD
CleanWaterCoin
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April 01, 2014, 04:08:54 AM
 #830

I don't know what to say other than we already explained exactly what happened:

Quote
Regarding the 13 btc, that came in from one investor about 30-45 min before launch. Since it was such a large sum they wanted an escrow and we obliged. To be honest, we were so busy prepping for the launch I didn't pay it much attention because I wasn't entirely sure they were serious. We had a good number of BTC come in up until a minute or two before 2 pm PST, which is when the PLC closed. We didn't accept anything after that time, but it did take me an hour our two after launch to finish listing all the info. I don't know how I can prove the 13 BTC came from a legitimate source without revealing the guy's identity, but I absolutely won't do that without his permission. I posted the TX ID and you can see we received that full amount so it's not a trick to retain coins--that would be counter-intuitive. We wouldn't spend all this time and effort to be transparent and then try to deceive users and keep coins.

We don't have 48 BTC, I wish we did. If that was the case we wouldn't have offered any Pre-Launch Coins because we wouldn't have needed any. It's a sad moment to have people drag your name through the mud and make false accusations because of greed. I'm sorry that someone investing caused you to receive less coins but that doesn't make us liars.

So in other words, you are saying that the IPO is here to cover your personal need. Self charity, nice concept indeed, so much for the non profit...

Who said that? Your arguments are so asinine.

This is from the OP:

Quote
Clean Water Coin is a major endeavor and although each of us on the development team has a “day job” we cannot fund this project entirely ourselves. If we could we would. Wherever possible we’ve relied on the skillsets of our team to put in work and reduce the costs, however, there are still hard costs and fees that we could not offset. That is where the PLC comes in. 100% of the BTC invested goes towards the Clean Water Coin Initiative. From development and server fees to marketing and outreach programs. We are not using the IPO as a source of income--that’s what our day jobs are for. So by investing in the PLC you are not only getting Clean Water Coins, but you’re supporting the organization and helping to build a charitable community.

I feel like Frodo right now and the PLC is the ring. I wish it had never come to me.





CleanWaterCoin.org | A Crypto Charity
scrototeabaggins
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April 01, 2014, 04:14:29 AM
 #831

I don't know what to say other than we already explained exactly what happened:

Quote
Regarding the 13 btc, that came in from one investor about 30-45 min before launch. Since it was such a large sum they wanted an escrow and we obliged. To be honest, we were so busy prepping for the launch I didn't pay it much attention because I wasn't entirely sure they were serious. We had a good number of BTC come in up until a minute or two before 2 pm PST, which is when the PLC closed. We didn't accept anything after that time, but it did take me an hour our two after launch to finish listing all the info. I don't know how I can prove the 13 BTC came from a legitimate source without revealing the guy's identity, but I absolutely won't do that without his permission. I posted the TX ID and you can see we received that full amount so it's not a trick to retain coins--that would be counter-intuitive. We wouldn't spend all this time and effort to be transparent and then try to deceive users and keep coins.

We don't have 48 BTC, I wish we did. If that was the case we wouldn't have offered any Pre-Launch Coins because we wouldn't have needed any. It's a sad moment to have people drag your name through the mud and make false accusations because of greed. I'm sorry that someone investing caused you to receive less coins but that doesn't make us liars.

So in other words, you are saying that the IPO is here to cover your personal need. Self charity, nice concept indeed, so much for the non profit...

Who said that? Your arguments are so asinine.

This is from the OP:

Quote
Clean Water Coin is a major endeavor and although each of us on the development team has a “day job” we cannot fund this project entirely ourselves. If we could we would. Wherever possible we’ve relied on the skillsets of our team to put in work and reduce the costs, however, there are still hard costs and fees that we could not offset. That is where the PLC comes in. 100% of the BTC invested goes towards the Clean Water Coin Initiative. From development and server fees to marketing and outreach programs. We are not using the IPO as a source of income--that’s what our day jobs are for. So by investing in the PLC you are not only getting Clean Water Coins, but you’re supporting the organization and helping to build a charitable community.

I feel like Frodo right now and the PLC is the ring. I wish it had never come to me.






https://www.youtube.com/watch?v=pjAAC13al9s
jeffminer
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April 01, 2014, 04:14:55 AM
 #832

so what if an IPO payment was made slightly after the launch

if you invested why aren't you trying to protect your investment now by not trashing the thread?  why contact the founders privately and try to resolve - what invester publically tries to trash their own investment?

also the team behind water obviously need funding to get the project off the ground, suggesting they are trying to make a quick buck is a bit much at this stage i think

this seems like a great project in the making, give them a break

cheers
BTCspoon
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April 01, 2014, 04:25:38 AM
 #833

so what if an IPO payment was made slightly after the launch

if you invested why aren't you trying to protect your investment now by not trashing the thread?  why contact the founders privately and try to resolve - what invester publically tries to trash their own investment?

also the team behind water obviously need funding to get the project off the ground, suggesting they are trying to make a quick buck is a bit much at this stage i think

this seems like a great project in the making, give them a break

cheers

Can't help myself, using charitable causes to cover shady moves put me in rage mode. Money involved or not.
Don't get me wrong, i really wish too see more crypto project involving charity, but they must be 100% transparent.

If you are unable to do that, go create another city, animal, "slidebelt", or whatever coin, that doesn't involve Charity.
Ammon
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April 01, 2014, 04:33:25 AM
 #834


Official Update: Signed NPO Registration Document

Some have been asking or questioning the legitimacy of Clean Water Coin,
so we scanned the filing/registration document signed by the Secretary of State recognizing
and approving our Non-Profit Organization in the State of California.




You can also verify the registration of CWC by searching "Clean Water Coin" & selecting the corporations field here: http://kepler.sos.ca.gov/

how much more transparent can you get than that???

big red letters for you wackos <3

jeffminer
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April 01, 2014, 04:33:45 AM
 #835

so what if an IPO payment was made slightly after the launch

if you invested why aren't you trying to protect your investment now by not trashing the thread?  why contact the founders privately and try to resolve - what invester publically tries to trash their own investment?

also the team behind water obviously need funding to get the project off the ground, suggesting they are trying to make a quick buck is a bit much at this stage i think

this seems like a great project in the making, give them a break

cheers

Can't help myself, using charitable causes to cover shady moves put me in rage mode. Money involved or not.
Don't get me wrong, i really wish too see more crypto project involving charity, but they must be 100% transparent.

agree. think the best thing now is get to get the coin off the ground.  it's in the interest of the founders to deliver on the charitable aspects as this returns value on their investment in the long run

I don't see a conflict here like some people have suggested, because the more value of the coin, the more charity it can do, and if it doesn't deliver on charity the price will drop so the incentives are built in.  
WALKEN-COIN
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April 01, 2014, 04:34:54 AM
 #836

I don't know what to say other than we already explained exactly what happened:

Quote
Regarding the 13 btc, that came in from one investor about 30-45 min before launch. Since it was such a large sum they wanted an escrow and we obliged. To be honest, we were so busy prepping for the launch I didn't pay it much attention because I wasn't entirely sure they were serious. We had a good number of BTC come in up until a minute or two before 2 pm PST, which is when the PLC closed. We didn't accept anything after that time, but it did take me an hour our two after launch to finish listing all the info. I don't know how I can prove the 13 BTC came from a legitimate source without revealing the guy's identity, but I absolutely won't do that without his permission. I posted the TX ID and you can see we received that full amount so it's not a trick to retain coins--that would be counter-intuitive. We wouldn't spend all this time and effort to be transparent and then try to deceive users and keep coins.

We don't have 48 BTC, I wish we did. If that was the case we wouldn't have offered any Pre-Launch Coins because we wouldn't have needed any. It's a sad moment to have people drag your name through the mud and make false accusations because of greed. I'm sorry that someone investing caused you to receive less coins but that doesn't make us liars.

So in other words, you are saying that the IPO is here to cover your personal need. Self charity, nice concept indeed, so much for the non profit...

Who said that? Your arguments are so asinine.

This is from the OP:

Quote
Clean Water Coin is a major endeavor and although each of us on the development team has a “day job” we cannot fund this project entirely ourselves. If we could we would. Wherever possible we’ve relied on the skillsets of our team to put in work and reduce the costs, however, there are still hard costs and fees that we could not offset. That is where the PLC comes in. 100% of the BTC invested goes towards the Clean Water Coin Initiative. From development and server fees to marketing and outreach programs. We are not using the IPO as a source of income--that’s what our day jobs are for. So by investing in the PLC you are not only getting Clean Water Coins, but you’re supporting the organization and helping to build a charitable community.

I feel like Frodo right now and the PLC is the ring. I wish it had never come to me.







Basically, someone watched how much was being invested at launch, decided to put a percentage of his or her stash in CWC. All of the BTC made from the coins will go towards keeping the project going, which makes perfect sense. That is how this non-profit works. Once you have the coin up and running, the charity donation come from the volume of sales.

Non-profits will be required to keep detailed public records of all financial transactions. The app for non-profit status puts them under the eye of regulators (who may or may not be effective in policing non-profit start-ups dealing with currency swaps). Buying a portion of the PLC makes no sense, since they (the devs) have all the BTC from the PLC "sales", but lost half their pre-mined coins to people at bargain basement prices compared to what they could have got just from doing what they already said they were going to do, then selling all 10MIL when they were at the peak of the media attention and community fervor. There is no reason for them to have bought 13 BTC of their own coins, at least no reason that makes it worthwhile.

If this coin performs half as well as some others that didn't have the image potential this coin has, I will have made a good investment choice, regardless of my heavily BTC-laden friend who got in under the line.

Moving forward!


CleanWaterCoin
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April 01, 2014, 04:44:32 AM
 #837

I don't know what to say other than we already explained exactly what happened:

Quote
Regarding the 13 btc, that came in from one investor about 30-45 min before launch. Since it was such a large sum they wanted an escrow and we obliged. To be honest, we were so busy prepping for the launch I didn't pay it much attention because I wasn't entirely sure they were serious. We had a good number of BTC come in up until a minute or two before 2 pm PST, which is when the PLC closed. We didn't accept anything after that time, but it did take me an hour our two after launch to finish listing all the info. I don't know how I can prove the 13 BTC came from a legitimate source without revealing the guy's identity, but I absolutely won't do that without his permission. I posted the TX ID and you can see we received that full amount so it's not a trick to retain coins--that would be counter-intuitive. We wouldn't spend all this time and effort to be transparent and then try to deceive users and keep coins.

We don't have 48 BTC, I wish we did. If that was the case we wouldn't have offered any Pre-Launch Coins because we wouldn't have needed any. It's a sad moment to have people drag your name through the mud and make false accusations because of greed. I'm sorry that someone investing caused you to receive less coins but that doesn't make us liars.

So in other words, you are saying that the IPO is here to cover your personal need. Self charity, nice concept indeed, so much for the non profit...

Who said that? Your arguments are so asinine.

This is from the OP:

Quote
Clean Water Coin is a major endeavor and although each of us on the development team has a “day job” we cannot fund this project entirely ourselves. If we could we would. Wherever possible we’ve relied on the skillsets of our team to put in work and reduce the costs, however, there are still hard costs and fees that we could not offset. That is where the PLC comes in. 100% of the BTC invested goes towards the Clean Water Coin Initiative. From development and server fees to marketing and outreach programs. We are not using the IPO as a source of income--that’s what our day jobs are for. So by investing in the PLC you are not only getting Clean Water Coins, but you’re supporting the organization and helping to build a charitable community.

I feel like Frodo right now and the PLC is the ring. I wish it had never come to me.







Basically, someone watched how much was being invested at launch, decided to put a percentage of his or her stash in CWC. All of the BTC made from the coins will go towards keeping the project going, which makes perfect sense. That is how this non-profit works. Once you have the coin up and running, the charity donation come from the volume of sales.

Non-profits will be required to keep detailed public records of all financial transactions. The app for non-profit status puts them under the eye of regulators (who may or may not be effective in policing non-profit start-ups dealing with currency swaps). Buying a portion of the PLC makes no sense, since they (the devs) have all the BTC from the PLC "sales", but lost half their pre-mined coins to people at bargain basement prices compared to what they could have got just from doing what they already said they were going to do, then selling all 10MIL when they were at the peak of the media attention and community fervor. There is no reason for them to have bought 13 BTC of their own coins, at least no reason that makes it worthwhile.

If this coin performs half as well as some others that didn't have the image potential this coin has, I will have made a good investment choice, regardless of my heavily BTC-laden friend who got in under the line.

Moving forward!




This exactly. Why would we try and put in 13 btc at the last moment? I'm sorry but it is so illogical and idiotic. Time to move on, we've wasted enough effort arguing with people who only want to cause chaos.

CleanWaterCoin.org | A Crypto Charity
DigitalDrops
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April 01, 2014, 04:45:57 AM
 #838

This is not the first altcoin to innovate sending percentages of block rewards or tx fees to a charity address. Charitycoin has been doing this for months.

https://bitcointalk.org/index.php?topic=448269.0

I have no affiliation with Charitycoin or CWC but at least Charitycoin is not mixed up in this pre-investment scandal.  Their launch was unprofessional but they seem to have their hearts in the right place and are transparent without controversy now.  While I agree that making profit is a good incentive for people to donate to charity, this coin seems to have focused on it too much and if this "NPO" is making a profit off charity... that speaks for itself.



Just out of pure clarification here, no other altcoin has done what we are doing with our coin. Charitycoin takes 10% of each block payout -- whereas we take a 0.1% transaction fee of the coin movement and donate that into the Charity Wallet.

Here is what is stated on our website & OP to save you some time Wink

Quote
We’ve built a unique function into the coin network so that everyone who mines or even uses Clean Water Coin will be helping save lives around the world. Every transaction will donate 0.1% of that transaction to the Charity Wallet, here’s an example: I’ve mined 1,000 Clean Water Coins and I request a manual payout from my pool. As a result of this transaction 1 coin will be donated to the Charity Wallet and the remaining 999 is sent to my wallet.

CleanWaterCoin.org  | A Crypto Charity
stratoos
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April 01, 2014, 04:51:07 AM
 #839

I don't know what to say other than we already explained exactly what happened:

Quote
Regarding the 13 btc, that came in from one investor about 30-45 min before launch. Since it was such a large sum they wanted an escrow and we obliged. To be honest, we were so busy prepping for the launch I didn't pay it much attention because I wasn't entirely sure they were serious. We had a good number of BTC come in up until a minute or two before 2 pm PST, which is when the PLC closed. We didn't accept anything after that time, but it did take me an hour our two after launch to finish listing all the info. I don't know how I can prove the 13 BTC came from a legitimate source without revealing the guy's identity, but I absolutely won't do that without his permission. I posted the TX ID and you can see we received that full amount so it's not a trick to retain coins--that would be counter-intuitive. We wouldn't spend all this time and effort to be transparent and then try to deceive users and keep coins.

We don't have 48 BTC, I wish we did. If that was the case we wouldn't have offered any Pre-Launch Coins because we wouldn't have needed any. It's a sad moment to have people drag your name through the mud and make false accusations because of greed. I'm sorry that someone investing caused you to receive less coins but that doesn't make us liars.

So in other words, you are saying that the IPO is here to cover your personal need. Self charity, nice concept indeed, so much for the non profit...

Who said that? Your arguments are so asinine.

This is from the OP:

Quote
Clean Water Coin is a major endeavor and although each of us on the development team has a “day job” we cannot fund this project entirely ourselves. If we could we would. Wherever possible we’ve relied on the skillsets of our team to put in work and reduce the costs, however, there are still hard costs and fees that we could not offset. That is where the PLC comes in. 100% of the BTC invested goes towards the Clean Water Coin Initiative. From development and server fees to marketing and outreach programs. We are not using the IPO as a source of income--that’s what our day jobs are for. So by investing in the PLC you are not only getting Clean Water Coins, but you’re supporting the organization and helping to build a charitable community.

I feel like Frodo right now and the PLC is the ring. I wish it had never come to me.







Basically, someone watched how much was being invested at launch, decided to put a percentage of his or her stash in CWC. All of the BTC made from the coins will go towards keeping the project going, which makes perfect sense. That is how this non-profit works. Once you have the coin up and running, the charity donation come from the volume of sales.

Non-profits will be required to keep detailed public records of all financial transactions. The app for non-profit status puts them under the eye of regulators (who may or may not be effective in policing non-profit start-ups dealing with currency swaps). Buying a portion of the PLC makes no sense, since they (the devs) have all the BTC from the PLC "sales", but lost half their pre-mined coins to people at bargain basement prices compared to what they could have got just from doing what they already said they were going to do, then selling all 10MIL when they were at the peak of the media attention and community fervor. There is no reason for them to have bought 13 BTC of their own coins, at least no reason that makes it worthwhile.

If this coin performs half as well as some others that didn't have the image potential this coin has, I will have made a good investment choice, regardless of my heavily BTC-laden friend who got in under the line.

Moving forward!




This exactly. Why would we try and put in 13 btc at the last moment? I'm sorry but it is so illogical and idiotic. Time to move on, we've wasted enough effort arguing with people who only want to cause chaos.

I have invested too a little BTC and I was a bit angry when saw somebody invested 13 BTC and my Water stake got halved, I said these must be the devs, but after I realised, oh they could invest in the own project buy making a lot of small 0.1 BTC or 1 BTC investments and nobody would be angry, so I don't think they were it. But it could be good for the coin, this big whale must be very curious about this project, and he will keep their coins for a long time I guess and won't bump it.

I see a very high potential in Water, still when I own only a very small part of it.
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April 01, 2014, 05:16:04 AM
 #840

so what if an IPO payment was made slightly after the launch

if you invested why aren't you trying to protect your investment now by not trashing the thread?  why contact the founders privately and try to resolve - what invester publically tries to trash their own investment?

also the team behind water obviously need funding to get the project off the ground, suggesting they are trying to make a quick buck is a bit much at this stage i think

this seems like a great project in the making, give them a break

cheers

Can't help myself, using charitable causes to cover shady moves put me in rage mode. Money involved or not.
Don't get me wrong, i really wish too see more crypto project involving charity, but they must be 100% transparent.

If you are unable to do that, go create another city, animal, "slidebelt", or whatever coin, that doesn't involve Charity.

I usually don't post on these threads Im more of a lurker. I just could not stand by another second. you are the biggest turd/troll/crybaby I have seen on this forum. All you do is go into every single altcoin thread that you personally dont like and trash talk the devs with Bullshit statements. The dev has already answered your dumb questions multiple times, you seem to have trouble reading. Either wear some glasses or just stay of the internet.

People like you irritate me to no end. Always with the bashing and lies, for what? Some alter agenda? Get a life man. Any one with half a brain can see your just a shit talker, you do it in every alt coin thread I have been in.

The dev has addressed your concerns, and even posted pics of the effing paperwork......I know the BS involved in a 501 and if he was a scammer there would be much easier ways of doing it. Go look at this guys post history proves hes a lame ass troll.

BC Address: BJ1C2xWrRHCcZu51hCd78MYen3qScdVZxh
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