[ANN][Checkcoin] Explore the world using Checkcoin [PR PHASE]

[Cesare1985]

I know Bitsend has provided an updateon the future of Checkcoin, but if they want to keep their reputation intact, they will get Bittrex to host a buyback of the ICO for early investors who lost ALL of their investment at this point. It's very disappointing to see this happening to Checkcoin, but there is room for redemption and there is time to save the brand.

Bitsend, you must be more transparent now more than ever. If this doesn't go well, I don't think your company has much of a future in Bitcoin or crypto. Everyone has a bad taste in their mouth right now and it could have been avoided with better communication.

Stop crying, please. This is not the solution. They need more funds because the project has an high level of difficulty. I'll wait all the 2015 if necessary.
The investors should have more Patience.

[CTRLX]

Really sh*t behaviour from Bitsend.

They should have handled this so much better from the start. The silence when begged by investors for updates would have been acceptable, if they were actually working on something.

According to the roadmap there should have been a tangible product developed by now. This 'blame Bitcoin price' nonsense isn't going to wash. If they've been sitting on the ICO bitcoin all this time, without investing it into development then the massive question is why? What exactly did ICO investors invest in?

This is a classic example of how to screw up a coin, which could have been a huge success because there is a clear gap in the market.

I don't think it's a scam, but Bitsend are hugely inept and out of touch. Just like before they'll expect people to wait around with vague promises and no communication.

Arrogance and ignorance. A deadly combination.

TL

These are my thoughts exactly. This could have been a major success, but development wise it was a total disaster. Where are they now? Nowhere! They just said "well we ain't gonna make it, we need more cash and devs" and whoosh they're out of this thread again. The community manager is quitting too. This is a cockup of epic proportions and it's a terrible shame, the coin itself was a fantastic idea. Sad to see such potential going to waste. They've got nobody to blame but themselves.

This was the first ICO I invested in because I believed in this project, with real devs and a real company. If even  THEY can't make it, who can you trust? I ain't even mad over the money I lost, I am mad because this was all preventable.

[sorrros]

Your stance and commitment speak in your favor. However the explanations given above are all but clear.
Let me suggest a few questions to help you shed light on the specifics :

- How did you fund the project until last week?
- Why did you sell BTC last week to fund the ongoing development? What has changed? Why last week?
- Why do you announce this 1 week later to CKC ICO investors?
- Did you sell all the BTC from the ICO or only a fraction of it?
- What is the degree of completion of the geo software?
- Why is it late in comparison to the original timeline?
- How much work/FTE is needed to complete the geo software?
- How much would it cost? What are the options?
- At what point in time can Bitsend fund the development of the geo software?
- What is your best estimate of geo software delivery? Or at least what are the scenarios?
- How would you provide a return to a potential investor? What would that person be investing in exactly?

Finally, why not asking for help within the CKC community first for development and funding?

Some tangible answers - even if controversial/disapproved - will help in the trust turmoil you're in.

These are good questions but some have been answered in the updates as well. I will help with a few and leave the rest for Bitsend.

- Here is the ICO transaction again that has been posted. Obviously this is the used funds:
https://blockchain.info/tx/8979b44feaf7ab5672aaa5b5d8f32c3515b10b564926c9af6bfeb1112d67d35c
https://blockchain.info/address/1GMFKbFfZN983c6ZRzxLVdXMyxBLWreHvW
- They needed to sell the Bitcoins to ensure continuation. As you can see the bitcoin price today they saved already around $100 per btc which amounts to over $10,000. If they hadn't sold them Checkcoin would be a whole lot more in trouble so I'd say they played it well. Ofcourse they could just hold until it recovers but it's still speculation. If that wasn't a good move then please explain what else they could have done.
- They will post a roadmap when it's ready.  

Thanks BTCat. I think however investors now need to understand the specifics in detail.

For example: we see BTCs were moved, but have they then been sold? All of them? If the plan was always to convert them to FIAT, why not have done so at the time of ICO or hedge the funds? Not doing so is speculation indeed, and poor business practice. If the plan was to keep them, why sell them now when there is little need for them if there is no dev to pay? What are these funds used for now? ...etc.

[Cesare1985]

I know Bitsend has provided an updateon the future of Checkcoin, but if they want to keep their reputation intact, they will get Bittrex to host a buyback of the ICO for early investors who lost ALL of their investment at this point. It's very disappointing to see this happening to Checkcoin, but there is room for redemption and there is time to save the brand.

Bitsend, you must be more transparent now more than ever. If this doesn't go well, I don't think your company has much of a future in Bitcoin or crypto. Everyone has a bad taste in their mouth right now and it could have been avoided with better communication.

Stop crying, please. This is not the solution. They need more funds because the project has an high level of difficulty. I'll wait all the 2015 if necessary.
The investors should have more Patience.

This is a forum. Do you know the definition of a forum? Are you the moderator? No? Then kindly STFU and let people have their say. I am entitled to voice my opinion here like everyone else. I am not trolling or spreading FUD. I am trying to discuss possible solutions rather than "whining about people crying" You don't like my crying? Ignore me. It's as simple as that.

http://en.wikipedia.org/wiki/Forum  I'm sorry, I didn't know what forum means. Now you can share your opinions freely

[Karn]

I hope they are planning to show what work has been done at least. I'd hate to think all the ICO paid for was a nice vacation for the dev team. 

[ObscureBean]

Well I gotta say this is a little of bit of a surprise. I've been away for the past few days, when I left, CKC was trading above ICO price and now it's at 369 sat 
My CKC is now worth a fraction of my investment  I'm not fussed though, I still believe Bitsend is legit so I will continue to hold on to my coins and buy more when I can. The money I invest in CKC is money that I can afford to lose so if CKC hit 1 sat tomorrow, I'm not gonna be any worse 
The team needs more time, I got time. Let's see what happens.
@BitsendInc Do what you need to do guys. Stay strong 

[BitcoinForumator]

First BitSend needs to answer the question posted. After that we will fry them if they don't provide legit answers.

[Mig-23]

so,..no new news anymore,....

[Mig-23]

so quiet here,..
gone like the wind

[CTRLX]

so quiet here,..
gone like the wind

Yep, this coin is dead. In crypto mistakes like these will make investors leave permanently. It would be better if Bitsend just said they are cancelling the project.

[veertje]

Hello everybody,

Checkcoin update from Bitsend:
 
Our team is working hard to develop Checkcoin in all aspects and will continue to do so for the coming year. We believe in the ideas of combining GPS Geocaching with cryptocurrency and will continue to support the project as best we can.
 
Bitsend still stands for 100% in support of the project and we will continue to do the best we can for further development of Checkcoin and the GEO location software. For this, unfortunately we are going to need much more time than originally planned to overcome current difficulties and move to the next stage. We are sorry that we can not release the GEO location software as soon as we originally hoped for. We will very soon make a new roadmap with a plan of action spanning the timeframe of the next year. This will include more detailed information about what path to follow as well as a new expected release date.
 
We have committed a lot of time, energy and money to the Checkcoin marketing and development and we like to continue to work hard to make it a success. Checkcoin is still in it's stage of development and has a long future ahead to grow. Thanks everyone for your continued support.

The Bitsend team.

I think it is not that negativ at all. But I am just in since a few weeks, so maybe I am more positive then others.

[bearbear]

only responses from the community in here .. so they ran away with the IPO already ? Still waiting with factual responses to :

- How comes nothing show up in google on commercial services provided by bitsend other than Checkcoin related things ? You know for a high tech company being present on the web with some SEO may help
and why nothing earlier than june 2014 ?

- How comes that the single posted screenshot of their marvellous ATM machine and taken from outside  looks whiter than any colgate advertisement would be ashamed of ? why a single picture,? why nothing show up ong google with pictures of this atm on a public place ? also why nothing show up on google about the registered  adress  of the underlying company ?

- What did you sell in your IPO except a darkcoin copy paste with the name substituted into checkcoin ? apart from a nice flyer posted about everywhere ?

- You said: "Can't wait to show you what we have been working on" blabla but apparently but you could wait so much time. please explain.

-What is your dev strategy, any goals to outsource or insource  that ? do you have a real team? how many developpers?


Please interesting responses include facts, things such as "stop spread stfo , you need faith or leave" are just useless. The money they take is real , and the likelihood for things being wrong is usually higher than expected in here. Due diligence applies.

looks like some of the photoshopped pictures disappeared from the flyer and thread.
Also in between I found out some additionnal funny things : two companies sharing the same vat : https://www.google.com/search?q=NL8231.81.352.B01&rct=j

It is so easy nowadays to create a company  in a few clicks and make 100 BTC

[Mig-23]

only responses from the community in here .. so they ran away with the IPO already ? Still waiting with factual responses to :

- How comes nothing show up in google on commercial services provided by bitsend other than Checkcoin related things ? You know for a high tech company being present on the web with some SEO may help
and why nothing earlier than june 2014 ?

- How comes that the single posted screenshot of their marvellous ATM machine and taken from outside  looks whiter than any colgate advertisement would be ashamed of ? why a single picture,? why nothing show up ong google with pictures of this atm on a public place ? also why nothing show up on google about the registered  adress  of the underlying company ?

- What did you sell in your IPO except a darkcoin copy paste with the name substituted into checkcoin ? apart from a nice flyer posted about everywhere ?

- You said: "Can't wait to show you what we have been working on" blabla but apparently but you could wait so much time. please explain.

-What is your dev strategy, any goals to outsource or insource  that ? do you have a real team? how many developpers?


Please interesting responses include facts, things such as "stop spread stfo , you need faith or leave" are just useless. The money they take is real , and the likelihood for things being wrong is usually higher than expected in here. Due diligence applies.

looks like some of the photoshopped pictures disappeared from the flyer and thread.
Also in between I found out some additionnal funny things : two companies sharing the same vat : https://www.google.com/search?q=NL8231.81.352.B01&rct=j

It is so easy nowadays to create a company  in a few clicks and make 100 BTC

i dont know what you mean,..

one thing,..dont be fud on here

[veertje]

I found quote below about vliegles.nl (https://bitcointalk.org/index.php?topic=715563.msg8101906#msg8101906):

Before I invest I need some things answered.

2. What is your relation to Vliegles.nl?

One of our employees built the vliegles.nl website.

So bearbear, just look up, before spreading only negativ. I think Bitsend is dedicated to make this project work as they said also by themselves in the last message.

[Mig-23]

@veertje

you re on dutch too

why not try to contact them or disscus about it

[veertje]

@veertje

you re on dutch too

why not try to contact them or disscus about it

I am just new here in this thread since a few weeks. I'll wait some time to see how communication goes here. It was good in the past as I can see, so hope that will go on after emotions have settled here.
@bitsendinc: Bitsend ATM is also interesting for Guldencoin (NLG). Maybe contact the team of NLG?

[crypto4jan]

@veertje

you re on dutch too

why not try to contact them or disscus about it

I am just new here in this thread since a few weeks. I'll wait some time to see how communication goes here. It was good in the past as I can see, so hope that will go on after emotions have settled here.
@bitsendinc: Bitsend ATM is also interesting for Guldencoin (NLG). Maybe contact the team of NLG?

TEAM NLG can contact BitSend to.

I think communication is ok and it takes maybe some more time to develop GEO-wallet features but the idea is unique and application is endless you can imagine. I accupulate some CKC during the past days and when price was lower I would accumulate even more! With the current BTC rate I think CheckCon is strongly undervalued!
Just my 2 CKC
@GEO_Jan

[CTRLX]

Sub $10k market cap. RIP holders
Are you watching Bitsend? This is what people think of your "transparency"

[Majormax]

Sub $10k market cap. RIP holders
Are you watching Bitsend? This is what people think of your "transparency"

No need to reply yet, Bitsend. Last update was only 1 week ago !

I am happy with a post every 2 weeks or so.

Come on nervous bagholders, lets see some big sales at low prices : there is very little cheap supply atm.

[Majormax]

@veertje

you re on dutch too

why not try to contact them or disscus about it

I am just new here in this thread since a few weeks. I'll wait some time to see how communication goes here. It was good in the past as I can see, so hope that will go on after emotions have settled here.
@bitsendinc: Bitsend ATM is also interesting for Guldencoin (NLG). Maybe contact the team of NLG?

TEAM NLG can contact BitSend to.

I think communication is ok and it takes maybe some more time to develop GEO-wallet features but the idea is unique and application is endless you can imagine. I accupulate some CKC during the past days and when price was lower I would accumulate even more! With the current BTC rate I think CheckCon is strongly undervalued!
Just my 2 CKC
@GEO_Jan

Agreed. There will probably not be too much for sale at these low levels.