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Author Topic: Why I left HyperFund - Grab Popcorn - Greedy Dev - Screenshots Inside  (Read 3239 times)
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tokyoghetto
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May 31, 2014, 06:35:42 AM
 #1

So as many of you know by now, I am no longer managing the Hyper Fund.

I am a man of integrity so I will do the community the service and let everyone know what happened with the fund.

Background


As you guys know, Hypercoin ninja-launched on May 25th 2014. the concept looked interesting, as I am a fan of MMOs.

I decided to rent some hashing power ASAP, as the mining period was short and I didn't want to miss out on grabbing some coins. The OP mentioned that there was a 2.5 percent premine for development of the coin. I had no problem with this because I assumed the premine was 2.5% of the total PoW coins to be mined, which was around 3 million. The means the premine should have been 75k Hyper. When I fired up the client, a quick getinfo command revealed that there was over 1.5 million coins in existence.



It turns out that the Hyperfuture gave himself a 33% premine. Something that he "failed" to mention. Since I had already spent hard-earned BTC on renting miners
I decided to help out the community by volunteering my services. The coin came under fire for having such a huge premine. I offered to take a portion of the coins and run the fund. This way the dev isn't holding a ton of the premine, in case this turns out to be a scam (more on that later).

Hyperfuture mentioned my involvement in the coin which probably made people feel more confident in the coin. You see, Hyperfuture has no rep or credibilty. But I do, so he basically used me to give his premine legitimacy.



The following are the PMs we sent back and forth, from the first negotiations to him basically deciding to keep all the fund to himself.





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tokyoghetto
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May 31, 2014, 06:38:09 AM
 #2

First Contact



Response



First Proposal






tokyoghetto
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May 31, 2014, 06:40:21 AM
 #3

He replys...decides on Option B



Negotiating Fee


tokyoghetto
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May 31, 2014, 06:42:33 AM
 #4

negotiating conditions....he wants a copy of the wallet.dat for the fund (DAFUQ!)



My response



tokyoghetto
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May 31, 2014, 06:44:36 AM
 #5

Now because I said NO to him having a copy of the wallet (for obvious reasons) he shrinks the fund down.



My response. I am willing to compromise since I still want this shit to work. Mind you at this point we aren't even trading on an exchange yet.

tokyoghetto
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May 31, 2014, 06:46:24 AM
 #6

He fucking agrees.....WORD IS BOND...or is it??



Me getting all excited...giving him ideas and shit.

tokyoghetto
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May 31, 2014, 06:49:20 AM
 #7

He likes my ideas....at this point we are on sharex trading around 2000 satoshi.



NOW THIS THIS TODAY. WE LIST ON BITREX AND  TRADE OVER 10K SATOSHI, GREED KICKS IN, HE CHANGES HIS FUCKING MIND.



My response

tokyoghetto
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May 31, 2014, 06:51:04 AM
 #8

His response...sleep deprived or just greedy?



I question his motives...most likely greed, as is 1.5 million premine isn't enough.

tokyoghetto
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May 31, 2014, 06:52:54 AM
 #9

The final dagger to the back....he tells me that I didn't believe in the project.



At least he sent me the 10k...which I quickly dumped on Bitrex.

tokyoghetto
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May 31, 2014, 07:00:44 AM
 #10

He compared collegestudent getting paid 0.5 BTC for doing an IPO versus my running the fund.

- Its not my fault he didn't negotiate hard enough
- I can run an IPO (basically selling coins on an exchange) in 10 mins
- I was under contract to run the fund for at least three months
- He wanted to pay me 20k Hyper ( basically 2 BTC) for three months of running a fund....sorry that is TOO LOW.


its still not late. I can still run the fund. Let the community decide. Otherwise why would anyone trust you? Imagine someone did put in hard work on the MMO and you don't pay, or pay cheap. you basically premined yourself over 50k USD. For doing what exactly? Paying loljosh to start a coin for you.

For now I am not involved with Hyperfund. Buyer beware, this one might turn out to be a scam after all.
Jamesco
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May 31, 2014, 07:24:49 AM
 #11

I knew something was up, especially with the way things were happening(lets be honest this coin smelt fishy from the  start). In all honestly I was surprised to see you initially chose a coin/put you name on a coin like this. I figured either you knew something about the coin that we all didn't, or they were giving you an offer you couldn't refuse. Seems like it was the latter. Even then I commend your honesty and openness by sharing this info, definitely adds more integrity back to your name well at least in my books anyway.

Regards
HYPERfuture
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May 31, 2014, 07:32:18 AM
 #12

He compared collegestudent getting paid 0.5 BTC for doing an IPO versus my running the fund.

- Its not my fault he didn't negotiate hard enough
- I can run an IPO (basically selling coins on an exchange) in 10 mins
- I was under contract to run the fund for at least three months
- He wanted to pay me 20k Hyper ( basically 2 BTC) for three months of running a fund....sorry that is TOO LOW.


its still not late. I can still run the fund. Let the community decide. Otherwise why would anyone trust you? Imagine someone did put in hard work on the MMO and you don't pay, or pay cheap. you basically premined yourself over 50k USD. For doing what exactly? Paying loljosh to start a coin for you.

For now I am not involved with Hyperfund. Buyer beware, this one might turn out to be a scam after all.

I've already been paying people for their contributions  Roll Eyes

HYPER Gaming Currency -> https://bitcointalk.org/index.php?topic=624651 GP RPG Currency -> https://bitcointalk.org/index.php?topic=1053441 https://cryptogalaxies.com -> Blockchain Based Space Strategy MMO. Crypto Galaxies on Bitcointalk -> https://bitcointalk.org/index.php?topic=1374470
tylerderden
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May 31, 2014, 08:03:48 AM
 #13

He compared collegestudent getting paid 0.5 BTC for doing an IPO versus my running the fund.

- Its not my fault he didn't negotiate hard enough
- I can run an IPO (basically selling coins on an exchange) in 10 mins
- I was under contract to run the fund for at least three months
- He wanted to pay me 20k Hyper ( basically 2 BTC) for three months of running a fund....sorry that is TOO LOW.


its still not late. I can still run the fund. Let the community decide. Otherwise why would anyone trust you? Imagine someone did put in hard work on the MMO and you don't pay, or pay cheap. you basically premined yourself over 50k USD. For doing what exactly? Paying loljosh to start a coin for you.

For now I am not involved with Hyperfund. Buyer beware, this one might turn out to be a scam after all.

I've already been paying people for their contributions  Roll Eyes

that don't mean shit bro, your screwing this guy here now and everybody knows it. Tokyoghetto i feel for you man it's hard put your name out there and trust people won't fuck it up. thing is they ALWAYS do. this reminds me of moolah backing Panda and wolong screwing everybody and killing the coin. one greedy decision ruins it for everybody. It seems to me like the few honest people among us need to get together and make something good. I wish somebody would because the constant scams are ruining the whole goddamn scene.

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tokyoghetto
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May 31, 2014, 12:30:53 PM
 #14

Thanks man. Hyperfuture is not to be trusted.

This how the market reacted once they found out I was no longer the fund manager.



This is how its trading 7 hours later



tokyoghetto
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May 31, 2014, 12:55:52 PM
 #15

I wanted to be under contract to run the fund for 1 year. He wanted only 3 months. Then for whatever reason, he felt that my fee was too high, but only after we listed on Bittrex and the price went above 10k satoshi.

This is coming from someone who gave himself 1.5 million Hyper coins out of thin air. He didn't have to mine for them, or buy them on the open exchange. I feel bad for the people who got in based on my involvement with the coin. For this I am truly sorry.
tokyoghetto
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May 31, 2014, 01:29:11 PM
 #16

All the Hypercoin bagholders are turning into kool-aid drinkers. Its pretty sad they really believe their dev will deliver.
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May 31, 2014, 01:51:30 PM
 #17

EDIT: Not sure if OP's story is all it seems to be anymore.
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May 31, 2014, 02:05:16 PM
 #18

sorry tokyo but the coin can survive without you

VRC      VKAE3VC3iPf2FFJsrzirzk4SX6mSrzSUka                  XPM          AeX9teC4y9YMRNVb7726i8u3RTCcMksFG3
BTC       15P73FANUu5rgNcCr4kYVUNiD3tdmgqEuP             HYPER       HL2iRAWRThvAR9kt5NDdEPBhin57tD98hB
tokyoghetto
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May 31, 2014, 02:12:40 PM
 #19

sorry tokyo but the coin can survive without you

I really don't care what happens with Hyper.
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June 01, 2014, 03:00:57 AM
 #20

Just finished reading about the whole thing.

Though I'm no fan of anything related to a premine, the dumbest thing the dev could do is to give you control over the fund (no offense).
You we're looking for a good pay-day, I respect that. But until you have actual proof of devs dumping, this whole thread is just for show.

Good luck.


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