Hi Devs,
I'm an old investor. I'm considering coming back in as the price is ridiculously low considering you're delivering something as ambitious as Ethereum. I'm about to buy a few BTC's worth but, before I do, would it be possible to get the cliff notes on what's coming up/what's happened?
Also, I'm very sorry to hear about the Moolah events and FUD - you guy's are a citadel of a team!
Hi there and welcome back! Here are the cliff notes, I'm waiting for a reply form legal counsel on what more we can publish at which point there will be more docs to share with all. The cliff notes:
- Syscoin working without issues, we were about to get our 10/14 payment as agreed from Moopay LTD escrow
- Moopay LTD (Moolah) randomly declares bankruptcy while still holding 750BTC of Syscoin escrow funds- the Syscoin team immediately initiates legal action via Selachii LLP solicitors located in the United Kingdom, where Moolah is registered.
- More and more news about the Moolah situation continues to come out, employees have come out with statements as well
- The Syscoin team remains committed to developing Syscoin- there is too much potential here to squander. We have several ideas about how this could work, but all of them depend highly on what goes on with the legal case. We are committed to really pushing forward blockchain tech, and Syscoin investors and holders will be coming with us. I expect the price to be in a lull for a bit as we work through this legal case.
Syscoin is the first party to take action aginst Moopay LTD.- Syscoin 0.1.5 RC4 released last night, removes the last technical dependency on any Moolah technical infrastructure (DNS Seed)
- We remain committed to the Syscoin
vision, but we also respect how much this issue with Moolah impacts all of crypto. It is our highest priority to catch the person responsible for the stolen bitcoins. We are going to pursue parallel development on Syscoin while we deal with the legal and we're scaling back our spending to focus our funds on the legal battle.
There is a lot I cannot say because of legal. And we are open to an investor interested in and securing a large amount of Syscoin to ensure market growth or working with a group of investors to help further leverage Syscoin's blockchain technology enhancements to grow its value. These larger investors could have input and insight into Syscoin feature development and even serve to help network Syscoin with the right people. Just an idea, our team certainly has the skills and with the price so low, its a good time to get into crypto2.0 on the cheap.
We're still here doing our best, but we also want to catch the guy that did this to us, Syscoin investors, and the crypto community at large. As I've mentioned before Syscoin ain't stopping.
Thanks for the response!
While it may take some time I have no doubt you will recover those bitcoins. The Moolah article on coindesk brought me back to the syscoin thread so you're certainly in the spotlight. If Ethereum succeeds it will put a lot of attention on blockchain 2.0 tech, which I'm sure you guy's can coat tail with the right PR.
I think syscoin is a great buy right now, I'm back in!
