I see the IPO is running full steam ahead so first congratulations are in order.
Keiretsu? Wow! I really have to say you know your finance stuff (or researched well). Most of crypto people would have been tongue tied answering the question with sensible arguments.
That said, first lets look at Keiretsu -- By definition it says different companies but by its working it is also about different promoters too. Here you are investing in your own assets that too borrowed from people. So it really isn't Keiretsu. Now you might say otherwise but one of the founding principles of Keiretsu is to lower risk for the companies too. In all of these assets there is one single biggest risk and that is YOU!!
JLH might be a "balanced fund" but now out of 9 assets it holds 4 of them have association with you - MgwLTC, MgwBTCD, Coinomat and NSC. On looking at trades I find it recently even held Nxtprivacy which was traded or transferred making it 50% (5 out of 10) in your own assets being held by jl777 (until yesterday):
https://nxtblocks.info/#section/txid/13869109530637325948https://nxtblocks.info/#section/txid/18177681832696022121Now the recipient account NXT-EVK5-KLZV-NHSZ-H4Z7R was first created on 5th and it doesn't show any bid order placements -- to buy NXTprivacy on an open market, so you have to wonder how it now owns 2.5% of the asset without any trades. Was it via some kind of trade/agreement? I don't know but makes you wonder for sure. The account received transactions from two NXT accounts:
https://nxtblocks.info/#section/accountId/NXT-ALP6-JWLS-K25S-DYTMBhttps://nxtblocks.info/#section/accountId/NXT-R8SQ-TUEM-DTHQ-7ATA3both of which again hold your assets (percentage wise)
I have just scratched the surface of your holdings and their transfer patterns. I am sure if I dig enough a pattern will emerge. To me it looks like an inter transfer to build up volume and price. This is possible because.............all transactions on NXT using 1 NXT as a fee instead of a percentage share (this is the achille's heel of NXT itself) , not really a big one if you can forge/get those back in the market, isnt?
Is there something fishy about your offering? Yes. Am I 100% sure about whats going on? No, cause I am not a full time auditor
So everyone buying this ICO (and saying "we have read the thread and understood") just be careful. JL777 has been kind enough to ask only 1 BTC if you doubt him, I would wager 0.01 BTC. But as I said in my original post, if you are being greedy, you will deserve what is coming.
All my accts are published
All my tx are on the blockchain
I do occasionally do market rate swaps to rebalance and focus a particular asset to a specific area
I dont have time to play games with the orderbook, so while you are more intelligent than most of the people accusing me of unethical behavior, the fact that you think mgwLTC is an asset of mine indicates you are not quite understanding of things
Now I have heard the many requests of people to better understand the assets. Since it sounds like you are already doing some analysis, do you want to work together so we can get some nice understandable documentation. I dont do GUI and I consider this sort of like a GUI, so I guess this is financial GUI.
If you are really interested in protecting people instead of just trying to smear my reputation, I expect an acceptance of this. We can do all the discussions of the internal transactions here, in the open. I have nothing to hide
James
Edited part of the quote.
Yes your accounts are published and yes they are on the blockchain. Problem is even with such an open book, it would require people to either not be really teary-eyed or be an excellent auditor to dig what is really happening.
MgwLTC is not your asset? Well honest mistake. If you think I am intelligent you certainly have to wonder how the mistake came about -- the answer is Nxt forum profile look up sucks, I can see your posts but not your opened threads. That makes it difficult to dig through all your assets you have issued. I assumed MgwLTC is similar to the BTC/BTCD offerings. So I do have understanding of things, its my digging which got hindered.
That said, I am certainly not out to smear or protect anyone. I don't have a horse in this race. If you remember, my initial question to you was "how come what you are doing is not a Ponzi", you said your asset formation is Keiretsu, along with me being lazy and what not, which it isnt. If you really are not doing anything wrong, answer these initial queries:
a. What is your holding pattern in each of the assets? This will clarify how much of your one asset is owned by another asset. ie answer the ponzi query clearly.
b. Even if you are consider these linked assets as Keiretsu, how do you mitigate the single point of risk - YOU. Not only from a scam point of view but also from unforeseen events too - say an IRL issues, many of us have those.
c. If your answer to above is "escrow", then who/what will be holding the "escrow". What are the terms? I have gone through the pdf and don't see the escrow terms.
It has been quite apparent from the syscoin, another IPO I bought into, that the escrow in crypto space is corrupt. slex has been changing terms for that escrow as and when he likes. worst part, his contention was wallet and blockchain, even in non-working form was enough for him to hold the coins.
That "suspicious" 2.5% of NXTprivacy was my donation to the BTCD community. We had a fund raiser to help pay for some bounties and I offered to match the value of the donations with some of my personal NXTprivacy. With the BTCD price going up about 3x from the time I made this offer last month, I decided to just send in the entire 25000 NXTprivacy I had allocated for this donation, before the BTCD price increase would prevent me from being able to match with the 25000 NXTprivacy.
I know I am just so evil
James
P.S. If you look at any NXT acct with more than 100K NXT in it, my guess is that they probably have at least one, if not many of my assets. For some reason, the fact that they have gained over 125 million NXT in the last 4 months has made them popular.
This post makes me wonder if you are actually two person
(no smearing meant).
Read my initial post - "
Was it via some kind of trade/agreement? I don't know but makes you wonder for sure" So no I dint say you were evil but yes it was surprising for an BTCD outsider. Wouldn't you agree?
As for the donation, you donated it out of the JHL asset (from what I can see on the blockchain) and not your personal account. So how come it is your personal NXTprivacy assets? Or have I missed some documentation where assets held by your own assets like JHL are your personal stash? Similar thing has happened with SuperNet, isnt it? You have allocated the 10% BBR held by sharkfund0 to this asset, maybe within your rights as a fund manager. then you could do something similar next time too, couldnt you? Open another asset called SuperDuperNet and allocate 5-10% of Supernet to it..see where I am coming from?
If we were to talk about playing with the orderbook, please explain me this. Instadex (again another of your asset) was stuck at 40 NXT for quite a long time. You came up with the first draft of Supernet where you disclosed about the increasing ownership in Instadex. A market changing information, it actually broke the range and now is at a high of 57 NXT. Would you say this was correct in your part? Specially when yourself talk about "jl777 effect" and then pump your own asset, knowingly/unknowingly?
Anyways, I think I have posted enough proofs for people to look into. Its up to them to decide what they want to do. If giving you 10k BTC is their prerogative, so be it.
The mgwCOIN assets are issued by the MGW asset. They represent the COIN held in multisig deposit accts. so I did indirectly issue the mgwLTC asset, but this asset is 100% backed by LTC. That was my point. you keep saying my assets are vapor, and list mgw assets, which indicated you are not understanding as the mgw assets are 100% backed by the corresponding crypto
Please do not just make up something and present it like a fact.
txids 13869109530637325948 and 18177681832696022121 are for 500 and 24500 NXTprivacy assets from my personal acct NXT-DE2F-W76R-GL25-HMFPR into the BTCD donation acct NXT-DE2F-W76R-GL25-HMFPR
So you falsely accuse me of taking assets from the JLH account all the while pretending you are being factual.
I have not taken any BBR out of sharkfund0, that would be wrong. There has to be marketrate swaps to move assets between two different accts. I have been careful to always follow this. Please find a single case where I have taken anything from one assets holding to any other that was not done at marketrate. And please do not just state you stole this from this fund, without any proofs.
the plan is to put sharkfund0 assets that I own personally into SuperNET acct. since the BBR is in the sharkfund0 holdings if the sharkfund0 goes into the SuperNET, then the BBR is effectively inside SuperNET.
I have disclosed that I did not have so much InstantDEX (7%) and that this would not be able to match the other core assets. I saw that there was a meaningful amount of InstantDEX on the orderbooks and as I was consolidating the assets (I disclosed this also) I was able to increase my personal holdings of InstantDEX so it will most likely be able to be balanced with the other core assets. I did all this BEFORE any funds were raised and I am not doing any market actions during the offering.
So please dig up all these "proofs" of unethical behavior. I am confident I will refute every single one of your "proofs" as I hold myself to a higher ethical standard.
I presume you are declining my offer to do any real work, so this makes it clear you attempt was to smear my honor.
Thank you for revealing yourself so clearly to everyone.
My offer stands for you to help document all the transactions I have done. I predict you will either not return, or come up with some excuse, or more likely post more "proofs" about all my unethical shenanigans that dont exist.
James
Hmm...not return/make excuses. So first you say its Keiretsu, I demolish that. Then you accuse me of "not understanding your grand plans". I say ok, answer three questions. Again you avoid answering questions and make up some BS story. Let me take your own post apart:
"Please do not just make up something and present it like a fact.
txids 13869109530637325948 and 18177681832696022121 are for 500 and 24500 NXTprivacy assets from my personal acct
NXT-DE2F-W76R-GL25-HMFPR into the BTCD donation acct NXT-EVK5-KLZV-NHSZ-H4Z7RSo you falsely accuse me of taking assets from the JLH account all the while pretending you are being factual."
The JLH issuing account is - NXT-DE2F-W76R-GL25-HMFPR, which I guess was the JLH account. But now you say its your personal account. As you say I am "making" things up, so:
1. Why use a personal account as the issuing account? I have checked your other assets InstaDex and sharkfund0, these werent done from this account?
2. If this is your personal account, pray where you are holding jl777's coins/assets? The account name? Can you state the facts for me please?
BBR and the sharkfund0 -- "Boolberry’s market cap stands at around $400,000 and a 10 percent share – already obtained by sharkfund0, most of which will be going into the SuperNET core – would cost only 80 BTC." -- from your pdf. Now how can one read this, tell me? Two ways:
1. You are investing coins from sharkfund0 into supernet, market rate or not, doesn't matter. Effectively propping Supernet with watever btc (4k BTC, was it?) sharkfund0 has. A market news of Supernet raising say 7k BTC (doesn't matter if it contains 4k BTC from sharkfund0, is a market moving news, isnt?)
2. You are investing a percentage of the sharkfund0 into supernet (keeping in with the risk mitigation and all). Say 40% of sharkfund0 --- that wud amount to only effective 4% of BBR being invested. Wouldn't it?
Now as you clarified (or provided proof
) that you will be investing your personal sharkfund0. Fair enough. How much do you hold? And how much of BBR wud it represent? Not 10% for sure.
I have a theory for Mgw but lets not talk about it as it will piss you off more.
That all said, you say I declined your offer to do any real work. I already asked you some questions. Let me repeat them again:
a. What is your holding pattern in each of the assets? This will clarify how much of your one asset is owned by another asset. ie answer the ponzi query clearly. --> Or do you want me to dig up info which you should be having already?
b. Even if you are consider these linked assets as Keiretsu, how do you mitigate the single point of risk - YOU. Not only from a scam point of view but also from unforeseen events too - say an IRL issues, many of us have those. --> This is more out of concern for you and people both. But fuck it, why have a contingency plan when you are the great jl777 --- no one should question you.
c. If your answer to above is "escrow", then who/what will be holding the "escrow". What are the terms? I have gone through the pdf and don't see the escrow terms.
It has been quite apparent from the syscoin, another IPO I bought into, that the escrow in crypto space is corrupt. slex has been changing terms for that escrow as and when he likes. worst part, his contention was wallet and blockchain, even in non-working form was enough for him to hold the coins. --> If I remember correctly you were still looking for escrow options. Things weren't finalised before the IPO kicked off. Now can we get some clarity?
That said, stop beating around the bush about your stellar reputation and ask for things which you know cant be done by a single guy -- audit all your asset transactions. Answer the above queries and we can be done with it. If you want to scream "SMEAR! SMEAR!" then be my guest. I wont be doing this back and forth for an IPO, I am not going to buy.
