[SCAM] BLOCKNET: The Metcalf/Prom Alt-Coin Cartel Scam Exposed

[Piston Honda]

As much as I wanted blocknet and want it to succeed (if dummies could see past the FUD, as the potential IS THERE), all of these threads and BS reading is just making me sick of even thinking of investing.  I mean with spare btc maybe but it's just over the top back and forth, making it hard for anyone to be able to take things seriously.

[leewilson]

Last time  I checked CoinGateway had sold 1,820,142.00 tokens, but I will get updated #'s

I have copied their transaction history for BLOCK and put into Excel. Here's the stats as of 1 hour ago (without the 10%):

And without these transactions which were stuck at the start and processed manually too

http://wiki.blocknet.co/index.php/Addresses_of_Blocknet_Assets

I have also been through those wallet balances and compared them to the amount sold on coingateway:

Apex (APEX): AeBeaFvNbYPLKmUnZZyxoqSGzFL6uh9AUA
Balance: 325,608.09364232
Exchanged: 351,119.739
Difference: -25,511.64535768 APEX


BitSwift (SWIFT): bYMstRCJ7YCUqhm5A5Q9wvyNRYyL1RugSd
Balance: 191,963.70558638
Exchanged: 182,615.1011
Difference: +9,348.60448638 SWIFT


Fibre (FIBRE): FQ8KQJio7ncdMDKYDaBH4eV1bQaWP1ufAF
Balance: 26,262.23414526
Exchanged: 22,581.9797
Difference: +3,680.25444526 FIBRE


LibrexCoin (LXC): DSJZAgkYxsFoU7UdUtLxHVddg5NVvctCe7
Balance: 68,918.36344923
Exchanged: 48,484.9313
Difference: +20,433.43214923 LXC


StealthCoin (XST): SLcP3vckWKkZYdUuYw46b9vAXvWZ3xvsM9
Balance: 1,244,874.457323
Exchanged: 1,604,616
Difference: -359,741.542677 XST


UtilityCoin (UTIL): UaiwbBREPphtqNB832gVpLy4B5AFwwuBFX
Balance: 60,417.15863445
Exchanged: 55,974.39
Difference: +4,442.76863445 UTIL


XCurrency (XC): XXVTS3279gzC5kagTCrEe4x5R7urnm6h2b
Balance: 340,473.460578
Exchanged: 294,647.2546
Difference: +45,826.205978 XC

Sonic (SSD): (Still on exchange due to wallet sync issue)
Balance: ?
Exchanged: 960,198.4854


There's obviously been some staking on those wallets but some of those differences are quite large.

The balances in the wallet are what was sent from coingateway on day #1, so CoinGW has additional coins waiting to be sent.

Here we go.

Dan's Conscience: O shit.

[leewilson]

Denizens and miscreants, either batten down the hatches or jump for it.
The rats of the boat have already abandoned ship;
their sixth sense feeling the fire and a watery grave.
Yes, those are cannonballs whizzing over your bow.
The time is nigh.

*Cue up the hitler going full retard videos

[Marlo Stanfield]

As much as I wanted blocknet and want it to succeed (if dummies could see past the FUD, as the potential IS THERE), all of these threads and BS reading is just making me sick of even thinking of investing.  I mean with spare btc maybe but it's just over the top back and forth, making it hard for anyone to be able to take things seriously.

Ideas are nothing with out the right people behind them to implement them. Why anyone would trust their own money to an organization who's demonstrably unethical is beyond me.

I do understand though that people with illiquid alts like the ones in blocknet would love the chance to unload them for a chance at potentially having a more liquid way for them to convert them to BTC(the blocknet token). Not sure their plan will work out, but it might. People who hold those alts still should look out though. The amount of actual BTC they hold looks to be fraction of what they claimed they needed for development. This of course entails that they will likely be selling some of the alts they collected, which in these quantities could be devastating. I doubt many people will want to invest in them now simply because of the uncertainty surrounding that situation.

People who put raw BTC in to blocknet have a very odd approach to investing:

1) invest BTC in a project that people have pointed out needs 500,000 BTC in volume on microfee transactions(not all transactions, just feature services like mixing) at a conservative estimate to create 100% profit.
2) invest now in that project and wait at least 8 months while it's developed.
3) wait for blocknet to gain enough user base to generate that amount of volume, perhaps millions of users considering the fees are only charged when doing coin to coin services(remember you can already buy coins on exchanges. if i want a VPN i can just buy one already with BTC or just by UTIL if it's actually worth it)
4)
5) ...profit?

Of course no one really thought this one through. As it's not necessary because the money is likely planned to be made on a pump and dump as is standard procedure for this group. Will there still be a pump after all this or just a dump at some point? Prometheus has the power here, if he can pull this one off and make a profit out of this shitshow I will be impressed. I'd assume though any rational actor would just move on to an easier target. At this point trying to pull this out of the gutter would be an ego play only, not money a play.

[PromBiach]

SDC going strong!!

who said "we can run it in to the ground in 48hrs"

lololol

[BTCwriter]

SDC going strong!!

who said "we can run it in to the ground in 48hrs"

lololol

You guys will pay with your money when the whales dump
one is already looking for a way out;
https://bitcointalk.org/index.php?topic=745352.msg9469077#msg9469077

[levinhostar]

I forgot to mention according to Dan he has been coding since 1980.
Another statement he made was that he has been coding for 35 years.

From what I can find Dan is 39yo-40yo, so you can do the math.

he was one year active on btt and talked only about hardware and mining. After night he transformed to the coding "god" but never actually saw anything useful from him. I would not invest.

[Zombier0]

Wow so whominvested right here

[Propulsion]

SDC going strong!!

who said "we can run it in to the ground in 48hrs"

lololol

You guys will pay with your money when the whales dump
one is already looking for a way out;
https://bitcointalk.org/index.php?topic=745352.msg9469077#msg9469077

Lol, he decided not to sell to me so I was forced to make a Bittrex account and buy on there. All in all a lot of new money just flowed into that project and I'm a minnow compared to some.

[meade16]

just wait Bob and his mod buddies will have this removed in preparation for their Pump..

Bob is a wanker 

[00Smurf]

As much as I wanted blocknet and want it to succeed (if dummies could see past the FUD, as the potential IS THERE), all of these threads and BS reading is just making me sick of even thinking of investing.  I mean with spare btc maybe but it's just over the top back and forth, making it hard for anyone to be able to take things seriously.

Ideas are nothing with out the right people behind them to implement them. Why anyone would trust their own money to an organization who's demonstrably unethical is beyond me.

I do understand though that people with illiquid alts like the ones in blocknet would love the chance to unload them for a chance at potentially having a more liquid way for them to convert them to BTC(the blocknet token). Not sure their plan will work out, but it might. People who hold those alts still should look out though. The amount of actual BTC they hold looks to be fraction of what they claimed they needed for development. This of course entails that they will likely be selling some of the alts they collected, which in these quantities could be devastating. I doubt many people will want to invest in them now simply because of the uncertainty surrounding that situation.

People who put raw BTC in to blocknet have a very odd approach to investing:

1) invest BTC in a project that people have pointed out needs 500,000 BTC in volume on microfee transactions(not all transactions, just feature services like mixing) at a conservative estimate to create 100% profit.
2) invest now in that project and wait at least 8 months while it's developed.
3) wait for blocknet to gain enough user base to generate that amount of volume, perhaps millions of users considering the fees are only charged when doing coin to coin services(remember you can already buy coins on exchanges. if i want a VPN i can just buy one already with BTC or just by UTIL if it's actually worth it)
4)
5) ...profit?

Of course no one really thought this one through. As it's not necessary because the money is likely planned to be made on a pump and dump as is standard procedure for this group. Will there still be a pump after all this or just a dump at some point? Prometheus has the power here, if he can pull this one off and make a profit out of this shitshow I will be impressed. I'd assume though any rational actor would just move on to an easier target. At this point trying to pull this out of the gutter would be an ego play only, not money a play.

good points in here.

[leewilson]

Does trading start as soon as the bittrex wall is removed?  Or is it a couple more days before the market (besides Poloniex) opens up?

So far we have completed all the requirements set forth for the ITO to be a success.

I beg to differ.

I still do not see the board confirmed that is controlling funds.
Nor the actual multisig wallet created...the site for the wallet was just re-referenced.
These were suppose to be formed the end of the ito.
From what I gather all funds whether they be btc, block , or any and all of the alt coins accepted appear to be in full control of Dan Metcalf.

[leewilson]

Has anyone looked into the neutral third party auditor, coingateway.net, that will be one of the proposed main gatekeepers of blocknet funds?

From what I can find, the company seems to be owned by one individual age 19 (as of last month)
Bangladeshi national living in Glascow, Scotland, UK
using an address that is virtual office
by the name of Nasim Akther.
https://www.opencompany.co.uk/company/SC463480/coincle-limited

[WayForward]

Pretty elaborate fud campaign guys.  You started dumping your XC and then pried out all this pre mine dumping crap and smear campaigns.  Made it easier to buy up the cheap xc huh keep the thread booming until you have accumulated enough.

Good one.

Yea but its the truth, I just have to sit back and skim over the fudder posts in here and I know where you all have your money, lets just name a few coins NOT under the same scrutiny...which has more weight in the scam categories - 50% insta mined Dark, SDC, Supernet

None of these coins have copped it has hard as XC and Block have.  Gutted jaded investors are worse then scorned women, you really are.

You really leave your allegiances for those to read into it. This is why crypto will never work in the real world.  We got Mr OP here who is arguing semantics and has no proof and the rest of you frothing at the mouth hoping to increase your bags because the hoard are only attacking coins they dont have an interest in, that IS a threat to their coins (when the Muppet argues about stupid things like not addressing things he never asked you will always be in a losing argument with fools like that - so you haven't proved or disproved a thing other than you like the sound of your own voice - right or wrong)

Nothing in this thread has swayed me at all, when I look at your fav coins - there you all are trying to big note it, yet in turn in here to fud another.  

No one has solid proof as far as I am concerned with what has been said in this thread.


Pretty fucking obvious.

[l8orre]

As much as I wanted blocknet and want it to succeed (if dummies could see past the FUD, as the potential IS THERE), all of these threads and BS reading is just making me sick of even thinking of investing.  I mean with spare btc maybe but it's just over the top back and forth, making it hard for anyone to be able to take things seriously.

Ideas are nothing with out the right people behind them to implement them. Why anyone would trust their own money to an organization who's demonstrably unethical is beyond me.

I do understand though that people with illiquid alts like the ones in blocknet would love the chance to unload them for a chance at potentially having a more liquid way for them to convert them to BTC(the blocknet token). Not sure their plan will work out, but it might. People who hold those alts still should look out though. The amount of actual BTC they hold looks to be fraction of what they claimed they needed for development. This of course entails that they will likely be selling some of the alts they collected, which in these quantities could be devastating. I doubt many people will want to invest in them now simply because of the uncertainty surrounding that situation.

People who put raw BTC in to blocknet have a very odd approach to investing:

1) invest BTC in a project that people have pointed out needs 500,000 BTC in volume on microfee transactions(not all transactions, just feature services like mixing) at a conservative estimate to create 100% profit.
2) invest now in that project and wait at least 8 months while it's developed.
3) wait for blocknet to gain enough user base to generate that amount of volume, perhaps millions of users considering the fees are only charged when doing coin to coin services(remember you can already buy coins on exchanges. if i want a VPN i can just buy one already with BTC or just by UTIL if it's actually worth it)
4)
5) ...profit?

Of course no one really thought this one through. As it's not necessary because the money is likely planned to be made on a pump and dump as is standard procedure for this group. Will there still be a pump after all this or just a dump at some point? Prometheus has the power here, if he can pull this one off and make a profit out of this shitshow I will be impressed. I'd assume though any rational actor would just move on to an easier target. At this point trying to pull this out of the gutter would be an ego play only, not money a play.

Memorized. Thanks for the well formulated argumentation!

[leewilson]

TL;DR

The US Federal Government among others appear to own any and all development and coins held and which have been held by Dan Metcalf since January 28, 2014 according to public records.
----------------------

Does a US Federal and State Tax Liens Threaten the Ownership of Blocknet and all its holdings?
I believe so and I am sure the Feds believe so as well. They tend to sieze all first and ask questions later. Just ask SR 1 & 2.
If all coins were seized, which I would believe bank accts have already been seized.

The lien clearly states:

As provided by section 6321, 6322, and 6323 if the Internal Revenue Service Code, we are giving a notice that taxes (including interest and penalties) have been assessed against the following-named taxpayer. We have made a demand for payment of this liability, but it remains unpaid. Therefore, there is a lien in favor of the United States on all property and rights to property belonging to this taxpayer for the amount of taxes, and additional penalties, interest, and costs that may accrue.


*I redacted out his spouse's name and address of the rental home it was sent to.

One might argue that the lien amount is not as much as the total value of the coins held currently.
True, but as history has shown they tend to seize everything until it is heard in court.
If that happens then by the time the court case was heard the coins value would have dropped to nil imo.
This also does not include the liens held by the state regarding state income taxes and property taxes along with other creditors.
And I am sure they are going to love the $20,000+ paid to coders on elance.com

This type of activity seems to be a constant issue in this individuals history for around 10 years at least.
Consistently not paying federal, state and property taxes.
The state seems to have seized his home before the feds could get to it.
If he does not believe in paying taxes (16th amendment, sovereign man) more power to him, but
when you know you have a federal tax lien and other liens issued against you knowing that they claim anything and everything until it is paid and you choose to take innocent peoples money and risk it all is revolting.

No paid services were used to glean this information. It took less than 10-15 minutes to find this info. And this was after seeing a 2nd dui arrest (which he was found not guilty for) through a simple google search. I have no idea about the first dui arrest or any other criminal arrests. The fact that he has gone public with his identity around 5 months ago, at which time all of this info was readily available.

And no one, out of all the pages within the threads of both xc and block, all the different coin communities involved with block, all the coin reviews and exchanges, saw this?
Regarding CoinsSource POD (proof of dung?), I saw where they were questioned about researching Dan after they made a comment regarding Dan being an reputable business owner. They said they stood by their comment. Reputable and having a reputation are two different things. The first business I see of his was shut down due to court order according to records. The latest business seems to have multiple family members as signatories. I'm not here to speculate why.

I guess I should start contracting out my services. To paraphrase Dan, "I need to feed my family".

I see no releases of the liens generated by the IRS and state on record. I can provide a much more detailed report with all pertinent documents, but I am not being paid to do so. I have no reason to lie. I was not invested in any of the coins in the network.  I ran across the original prom chatlog and took an interest.  Simple as that.  This complete post is my opinion from reviewing the instruments found of record.

Will the exchanges lock accounts now? Are they required to by law? Or will their legal teams advise them to do so as a precaution?

[rugrats]

Will the exchanges lock accounts now? Are they required to by law? Or will their legal teams advise them to do so as a precaution?

Not unless they receive a written court order, and then, only if they are under the jurisdiction of United States' laws.

[sidhujag]

The idiots doing supernet and blocknet are dumb. They could have been known for something great insteAd they let greed get the best of them . rip nxt

[r1aan]

This is a new low for FUDDING.

[leewilson]

Will the exchanges lock accounts now? Are they required to by law? Or will their legal teams advise them to do so as a precaution?

Not unless they receive a written court order, and then, only if they are under the jurisdiction of United States' laws.

To my knowledge, both Bittrex and Poloniex are.
They consider jurisdiction to be anywhere a US citizen stands or where he keeps his money especially in regard to possible tax evasion.
Just ask Swiss banks that gave up all of the private ownership info of US citizens and companies who had bank accts with them.