[ANN][1000 SYNC] Proof of Stake now run by BLOCKCHAIN DEVELOPMENT COMPANY

[Chronikka]

I feel SYNC and PURE might be from the same dev. Look at the wallet screenshots

I would stay away from PURE...it screams scam worse than this one does. Even if its not a scam, the whole VISA card thing is a big red flag...basically the dev is trying to act like an exchange of currency between PURE and USD. That breaks all sorts of laws. Charlie Shrem (among others) is facing prison for this. Either the dev is not aware of what he is doing or is perfectly aware and does not care...either way its best to stay away.

And its unlikely that one developer would steal a wallet from an obscure coin like Sync days after it was released. This is probably the same developer. Or at the very least somebody who has been heavily involved in Sync thus far.

What kind of laws are you referring to? I think dollars are free to exchange in the Eurozone, and especially if they are working together with a licensed bank which it appears to by the access to chipcards. This is Germany, remember, not Texas!

In order to exchange currency you need to register as a money transmitter. They plan to operate a website where this exchange takes place. In order for it to be legal, they need to register appropriately and they will be subject to a  number of regulations/taxes

http://fincen.gov/statutes_regs/guidance/html/FIN-2013-G001.html

The relevant part here is under "Administrators and Exchangers of Virtual Currency" in the document.

Where they are located does not matter if they conduct any business at all in the US. I don't know what other country's policies are but FINCEN will ruin your day here in the US. Also, VISA is an American company and subject to the same laws. If they get wind of this happening they will shut it down immediately. They could be on the hook for money laundering charges if something goes bad.

[YAdaminer]

Guys I would say that SYNC have the same developer as Pure which is not bad. I think he is behind CINNI and XLB too.
The bad thing is if we waiting for some fixes because he works on other coins development.
loljosh is the guy and you can check if you want. It seems that you can have your coin for not much BTC

https://bitcointalk.org/index.php?topic=466908.0

... and only MsCollec can confirm or deny that.

[Chronikka]

Guys I would say that SYNC have the same developer as Pure which is not bad. I think he is behind CINNI and XLB too.
The bad thing is if we waiting for some fixes because he works on other coins development.
loljosh is the guy and you can check if you want. It seems that you can have your coin for not much BTC

https://bitcointalk.org/index.php?topic=466908.0

... and only MsCollec can confirm or deny that.

I pointed this thread out awhile ago and I was ignored. Oh well. But its clear the developer has moved on to his next project

[do0d]

<snip>

I really don't believe there is a minimum .3 to stake.

I see people saying this repeatedly, but wasn't that meant that was a change in the yet to be released new wallet?

[YAdaminer]

Guys I would say that SYNC have the same developer as Pure which is not bad. I think he is behind CINNI and XLB too.
The bad thing is if we waiting for some fixes because he works on other coins development.
loljosh is the guy and you can check if you want. It seems that you can have your coin for not much BTC

https://bitcointalk.org/index.php?topic=466908.0

... and only MsCollec can confirm or deny that.

I pointed this thread out awhile ago and I was ignored. Oh well. But its clear the developer has moved on to his next project

Probably cause it's true.

[raskul]

Guys I would say that SYNC have the same developer as Pure which is not bad. I think he is behind CINNI and XLB too.
The bad thing is if we waiting for some fixes because he works on other coins development.
loljosh is the guy and you can check if you want. It seems that you can have your coin for not much BTC

https://bitcointalk.org/index.php?topic=466908.0

... and only MsCollec can confirm or deny that.

I pointed this thread out awhile ago and I was ignored. Oh well. But its clear the developer has moved on to his next project

i got your back mate. You weren't ignored, some intelligent folk realised the issue and responded to you about it.
and yes, you are right on the money (pardon the pun) Purecoin is the clearest money laundering scam I have ever seen. That visa thing will never transpire, and those who buy into it are getting scammed just as badly as worse than we have been here.

remember a while, one of the devs posted that MsCollec had asked them to make a 'test' coin?

not a bad criminal test for the real coin - but i'm afraid it's been found out. time to jump threads. Purecoin huh? see you there.

[Kenta]

I feel SYNC and PURE might be from the same dev. Look at the wallet screenshots

I would stay away from PURE...it screams scam worse than this one does. Even if its not a scam, the whole VISA card thing is a big red flag...basically the dev is trying to act like an exchange of currency between PURE and USD. That breaks all sorts of laws. Charlie Shrem (among others) is facing prison for this. Either the dev is not aware of what he is doing or is perfectly aware and does not care...either way its best to stay away.

And its unlikely that one developer would steal a wallet from an obscure coin like Sync days after it was released. This is probably the same developer. Or at the very least somebody who has been heavily involved in Sync thus far.

What kind of laws are you referring to? I think dollars are free to exchange in the Eurozone, and especially if they are working together with a licensed bank which it appears to by the access to chipcards. This is Germany, remember, not Texas!

In order to exchange currency you need to register as a money transmitter. They plan to operate a website where this exchange takes place. In order for it to be legal, they need to register appropriately and they will be subject to a  number of regulations/taxes

http://fincen.gov/statutes_regs/guidance/html/FIN-2013-G001.html

The relevant part here is under "Administrators and Exchangers of Virtual Currency" in the document.

Where they are located does not matter if they conduct any business at all in the US. I don't know what other country's policies are but FINCEN will ruin your day here in the US. Also, VISA is an American company and subject to the same laws. If they get wind of this happening they will shut it down immediately. They could be on the hook for money laundering charges if something goes bad.

I know you Americans like to apply your laws on Europe, but the world isn't yours just yet. Visa is just a service making agreed currencies available for banks and it's the banks themselves that do the transaction in whatever currency. This "exchange" has nothing to do with Visa and I'm sure this coin provider has an agreement with a bank performing that last bit of the transaction.
Finland has a Bitcoin ATM, did you know that?

And don't forget that your states recently declared Bitcoin a "commodity". There's nothing more suspicious about paying dollars for Pure than paying dollars for rice...  

This might be a long and boring case for the courthouses, but this is more or less the arguments I would use to defend against your lawyer

But thanks for the warning anyways, I'll be ready to sell in case it all goes pear-shaped

[raskul]

I feel SYNC and PURE might be from the same dev. Look at the wallet screenshots

I would stay away from PURE...it screams scam worse than this one does. Even if its not a scam, the whole VISA card thing is a big red flag...basically the dev is trying to act like an exchange of currency between PURE and USD. That breaks all sorts of laws. Charlie Shrem (among others) is facing prison for this. Either the dev is not aware of what he is doing or is perfectly aware and does not care...either way its best to stay away.

And its unlikely that one developer would steal a wallet from an obscure coin like Sync days after it was released. This is probably the same developer. Or at the very least somebody who has been heavily involved in Sync thus far.

What kind of laws are you referring to? I think dollars are free to exchange in the Eurozone, and especially if they are working together with a licensed bank which it appears to by the access to chipcards. This is Germany, remember, not Texas!

In order to exchange currency you need to register as a money transmitter. They plan to operate a website where this exchange takes place. In order for it to be legal, they need to register appropriately and they will be subject to a  number of regulations/taxes

http://fincen.gov/statutes_regs/guidance/html/FIN-2013-G001.html

The relevant part here is under "Administrators and Exchangers of Virtual Currency" in the document.

Where they are located does not matter if they conduct any business at all in the US. I don't know what other country's policies are but FINCEN will ruin your day here in the US. Also, VISA is an American company and subject to the same laws. If they get wind of this happening they will shut it down immediately. They could be on the hook for money laundering charges if something goes bad.

I know you Americans like to apply your laws on Europe, but the world isn't yours just yet. Visa is just a service making agreed currencies available for banks and it's the banks themselves that do the transaction in whatever currency. This "exchange" has nothing to do with Visa and I'm sure this coin provider has an agreement with a bank performing that last bit of the transaction.
Finland has a Bitcoin ATM, did you know that?

And don't forget that your states recently declared Bitcoin a "commodity". There's nothing more suspicious about paying dollars for Pure than paying dollars for rice...  

This might be a long and boring case for the courthouses, but this is more or less the arguments I would use to defend against your lawyer

But thanks for the warning anyways, I'll be ready to sell in case it all goes pear-shaped

i've informed VISA directly. As long as purecoin have prior written affirmations from the trademark holder, they'll be OK.

Kenta, this isn't about us vs them, this is how the entire crypto-world is viewed by outside eyes. The last thing bitcoin needs (remember bitcoin?) is a bunch of criminals continually trying to scam people to invest in their get-rich quick schemes.

[cryptomines]

So, what did we get from the dev today? One useless comment?

Off topic, I'm curious what visa has to say about pure coin.

[raskul]

so, are we all in sync? we might as well do something with this now the dev team have moved on to their money laundering scam

[Kenta]

So, what did we get from the dev today? One useless comment?

Off topic, I'm curious what visa has to say about pure coin.

If Visa would have anything against this business at all, even though it's a commodity, which I doubt, it might be more beneficial for them to do business with Eurocard. Then they would also automatically be accepted by the Mastercard network.

[Chronikka]

I feel SYNC and PURE might be from the same dev. Look at the wallet screenshots

I would stay away from PURE...it screams scam worse than this one does. Even if its not a scam, the whole VISA card thing is a big red flag...basically the dev is trying to act like an exchange of currency between PURE and USD. That breaks all sorts of laws. Charlie Shrem (among others) is facing prison for this. Either the dev is not aware of what he is doing or is perfectly aware and does not care...either way its best to stay away.

And its unlikely that one developer would steal a wallet from an obscure coin like Sync days after it was released. This is probably the same developer. Or at the very least somebody who has been heavily involved in Sync thus far.

What kind of laws are you referring to? I think dollars are free to exchange in the Eurozone, and especially if they are working together with a licensed bank which it appears to by the access to chipcards. This is Germany, remember, not Texas!

In order to exchange currency you need to register as a money transmitter. They plan to operate a website where this exchange takes place. In order for it to be legal, they need to register appropriately and they will be subject to a  number of regulations/taxes

http://fincen.gov/statutes_regs/guidance/html/FIN-2013-G001.html

The relevant part here is under "Administrators and Exchangers of Virtual Currency" in the document.

Where they are located does not matter if they conduct any business at all in the US. I don't know what other country's policies are but FINCEN will ruin your day here in the US. Also, VISA is an American company and subject to the same laws. If they get wind of this happening they will shut it down immediately. They could be on the hook for money laundering charges if something goes bad.

I know you Americans like to apply your laws on Europe, but the world isn't yours just yet. Visa is just a service making agreed currencies available for banks and it's the banks themselves that do the transaction in whatever currency. This "exchange" has nothing to do with Visa and I'm sure this coin provider has an agreement with a bank performing that last bit of the transaction.
Finland has a Bitcoin ATM, did you know that?

And don't forget that your states recently declared Bitcoin a "commodity". There's nothing more suspicious about paying dollars for Pure than paying dollars for rice...  

This might be a long and boring case for the courthouses, but this is more or less the arguments I would use to defend against your lawyer

But thanks for the warning anyways, I'll be ready to sell in case it all goes pear-shaped

I don't think you understand. Every country has laws just like this. This is how they prevent money laundering. I can only quote the laws in the US because those are the only ones I know.

But as a user of PURE you would have very little to worry about. They don't care about users of the currency, instead they will go after whoever operates the website. Which is why I say it may be a scam. They probably know very well about the laws they are breaking, and are hoping to get as many suckers paying in as possible before they close shop.

[raskul]

I feel SYNC and PURE might be from the same dev. Look at the wallet screenshots

I would stay away from PURE...it screams scam worse than this one does. Even if its not a scam, the whole VISA card thing is a big red flag...basically the dev is trying to act like an exchange of currency between PURE and USD. That breaks all sorts of laws. Charlie Shrem (among others) is facing prison for this. Either the dev is not aware of what he is doing or is perfectly aware and does not care...either way its best to stay away.

And its unlikely that one developer would steal a wallet from an obscure coin like Sync days after it was released. This is probably the same developer. Or at the very least somebody who has been heavily involved in Sync thus far.

What kind of laws are you referring to? I think dollars are free to exchange in the Eurozone, and especially if they are working together with a licensed bank which it appears to by the access to chipcards. This is Germany, remember, not Texas!

In order to exchange currency you need to register as a money transmitter. They plan to operate a website where this exchange takes place. In order for it to be legal, they need to register appropriately and they will be subject to a  number of regulations/taxes

http://fincen.gov/statutes_regs/guidance/html/FIN-2013-G001.html

The relevant part here is under "Administrators and Exchangers of Virtual Currency" in the document.

Where they are located does not matter if they conduct any business at all in the US. I don't know what other country's policies are but FINCEN will ruin your day here in the US. Also, VISA is an American company and subject to the same laws. If they get wind of this happening they will shut it down immediately. They could be on the hook for money laundering charges if something goes bad.

I know you Americans like to apply your laws on Europe, but the world isn't yours just yet. Visa is just a service making agreed currencies available for banks and it's the banks themselves that do the transaction in whatever currency. This "exchange" has nothing to do with Visa and I'm sure this coin provider has an agreement with a bank performing that last bit of the transaction.
Finland has a Bitcoin ATM, did you know that?

And don't forget that your states recently declared Bitcoin a "commodity". There's nothing more suspicious about paying dollars for Pure than paying dollars for rice...  

This might be a long and boring case for the courthouses, but this is more or less the arguments I would use to defend against your lawyer

But thanks for the warning anyways, I'll be ready to sell in case it all goes pear-shaped

I don't think you understand. Every country has laws just like this. This is how they prevent money laundering. I can only quote the laws in the US because those are the only ones I know.

But as a user of PURE you would have very little to worry about. They don't care about users of the currency, instead they will go after whoever operates the website. Which is why I say it may be a scam. They probably know very well about the laws they are breaking, and are hoping to get as many suckers paying in as possible before they close shop.

looks like the biggest hashrate has gone off on the wrong fork anyhoo, so users aren't gonna get jack-shit.

[raskul]

just to let you all know, i've taken down my node for SYNC.
I don't wish to be associated with this coin, or any of it's development team.

best wishes to you all.

[Kenta]

I feel SYNC and PURE might be from the same dev. Look at the wallet screenshots

I would stay away from PURE...it screams scam worse than this one does. Even if its not a scam, the whole VISA card thing is a big red flag...basically the dev is trying to act like an exchange of currency between PURE and USD. That breaks all sorts of laws. Charlie Shrem (among others) is facing prison for this. Either the dev is not aware of what he is doing or is perfectly aware and does not care...either way its best to stay away.

And its unlikely that one developer would steal a wallet from an obscure coin like Sync days after it was released. This is probably the same developer. Or at the very least somebody who has been heavily involved in Sync thus far.

What kind of laws are you referring to? I think dollars are free to exchange in the Eurozone, and especially if they are working together with a licensed bank which it appears to by the access to chipcards. This is Germany, remember, not Texas!

In order to exchange currency you need to register as a money transmitter. They plan to operate a website where this exchange takes place. In order for it to be legal, they need to register appropriately and they will be subject to a  number of regulations/taxes

http://fincen.gov/statutes_regs/guidance/html/FIN-2013-G001.html

The relevant part here is under "Administrators and Exchangers of Virtual Currency" in the document.

Where they are located does not matter if they conduct any business at all in the US. I don't know what other country's policies are but FINCEN will ruin your day here in the US. Also, VISA is an American company and subject to the same laws. If they get wind of this happening they will shut it down immediately. They could be on the hook for money laundering charges if something goes bad.

I know you Americans like to apply your laws on Europe, but the world isn't yours just yet. Visa is just a service making agreed currencies available for banks and it's the banks themselves that do the transaction in whatever currency. This "exchange" has nothing to do with Visa and I'm sure this coin provider has an agreement with a bank performing that last bit of the transaction.
Finland has a Bitcoin ATM, did you know that?

And don't forget that your states recently declared Bitcoin a "commodity". There's nothing more suspicious about paying dollars for Pure than paying dollars for rice...  

This might be a long and boring case for the courthouses, but this is more or less the arguments I would use to defend against your lawyer

But thanks for the warning anyways, I'll be ready to sell in case it all goes pear-shaped

I don't think you understand. Every country has laws just like this. This is how they prevent money laundering. I can only quote the laws in the US because those are the only ones I know.

But as a user of PURE you would have very little to worry about. They don't care about users of the currency, instead they will go after whoever operates the website. Which is why I say it may be a scam. They probably know very well about the laws they are breaking, and are hoping to get as many suckers paying in as possible before they close shop.

But if it's not a currency..

http://techcrunch.com/2014/03/25/irs-rules-bitcoin-is-property-not-currency/

[CodyF86]

I still think it's funny so many people are complaining when from the very beginning...in the OP it even says the max coin age maturity is 30 days...

I'd be more interested in people complaining that their coins haven't staked after having them for 30 days... oh that's right...has this thing even been out for 30 days yet? lol

The people whose coins have staked are just on the lucky side of the curve.

I'm still along for the ride! =)

p.s. The whole 0.3 thing after that screenshot doesn't seem to be the case...even if you staked on the 30th day instead of the 1st, you're still going to make the same amount...in terms of coins from staking.

"moneysupply" : 1004.11804085

4.11804085 coins have been created from staking so far.

[rfcdejong]

I still think it's funny so many people are complaining when from the very beginning...in the OP it even says the max coin age maturity is 30 days...

I'd be more interested in people complaining that their coins haven't staked after having them for 30 days... oh that's right...has this thing even been out for 30 days yet? lol

The people whose coins have staked are just on the lucky side of the curve.

I'm still along for the ride! =)

p.s. The whole 0.3 thing after that screenshot doesn't seem to be the case...even if you staked on the 30th day instead of the 1st, you're still going to make the same amount...in terms of coins from staking.

"moneysupply" : 1004.11804085

4.11804085 coins have been created from staking so far.

of which i mined around 0.12

[rfcdejong]

Disclosure: I've been picking up additional SYNC.  These are fire sale prices, no pump & dump, just my opinion.
I haven't added the additional coin to my balance on one wallet to show the less than .3 stake.  

I didn't like the start of this coin, but that was on me because the pool I choose wasn't mining for the first 15 minutes.  Win some, lose some...

I don't know about 10BTC, but I could see 1.5 to 2 BTC in the next few months...  

"A world where anything is possible. Where we go from there is a choice I leave to you..."

I have been setting up buy orders as well, slowly being filled... got nearly 2 SYNC and i won't sell it until it hits at least 2 BTC each
So i'm almost in the #100 http://explorer.synclub.net/toprich

[Chronikka]

But if it's not a currency..

http://techcrunch.com/2014/03/25/irs-rules-bitcoin-is-property-not-currency/

That only applies when filing your taxes.

"The term "money transmission services" means "the acceptance of currency, funds, or other value that substitutes for currency from one person and the transmission of currency, funds, or other value that substitutes for currency to another location or person by any means."

http://fincen.gov/statutes_regs/guidance/html/FIN-2013-G001.html

Basically it means transmitting money doesn't have to occur within a traditional currency. The medium just has to hold some value.

[Kenta]

But if it's not a currency..

http://techcrunch.com/2014/03/25/irs-rules-bitcoin-is-property-not-currency/

That only applies when filing your taxes.

"The term "money transmission services" means "the acceptance of currency, funds, or other value that substitutes for currency from one person and the transmission of currency, funds, or other value that substitutes for currency to another location or person by any means."

http://fincen.gov/statutes_regs/guidance/html/FIN-2013-G001.html

Basically it means transmitting money doesn't have to occur within a traditional currency. The medium just has to hold some value.

America is ahead of Europe when it comes to making such rules and I'm sure it will take a long time for the EU ministers to agree on this. Bitcoin is currently not classified as e-money or a foreign currency in Germany, they call it "private money", which can be taxed, but trading is not yet regulated as it is in America.