The questions BITBAY REFUSES TO ANSWER[BAY]

[RiverBoatBTC]

1. Who ran the ICO?
2. How are the funds stored on BTER? Wallet, escrow account, something else?
3. What individual or group owns the ICO wallet/account? Who can release funds?
4. Who makes the determination that criteria have been met to allow distribution of funds from the ICO account?
5. When funds are released, which individuals receive those funds and how much does each individual receive?
6. Where is the documentation regarding how the funds are being spent to further the bitbay project?
7. If today's software release triggered a distribution of ICO funds, what new functions are available in the new wallet?  
8. What individual is accountable for the finances of the project and can we see ledgers?
9. If bitbay drops to zero value today, who gets to keep the ICO money?
10. I didn't see an accountant listed among the project members. Who is doing the accounting? Will there be an audit?

[BitBayShitBay]

Find this EXTREMELY alarming, I suggest EVERYONE go post these questions in the thread untill they answer them.

[a fool and his money ...]

did you morons buy another ipo? Sorry, no compassion for dumb people. 

interesting how you extraordinary smart people start to ask questions after your purchase and not before.

all ipo/ico/ito/presale is scam. You'll loose a lot before learning this.

[RiverBoatBTC]

I did not buy anything, but I am preventing this shit from going any further if I can help it.

the community stands Idle to many times and ALLOWS this type of behavior to happen.

[a fool and his money ...]

I did not buy anything, but I am preventing this shit from going any further if I can help it.

the community stands Idle to many times and ALLOWS this type of behavior to happen.

very true. I support helping people asking the correct questions.

but you make it too complicated

Ipo/ico/presale is always risk of selfbuy of the one who releases it and in 99,9% of cases there will be selfbuys and that's the free premine. IPO/ICO is big scam and should be banned from the board.
Releasing a coin this way is not clean business in crypto.

[RiverBoatBTC]

Looks like the smart contract feature does not even work... NO one and I repeat NO ONE at this time has got it work.

BUT THEY GOT THEY ESCROW FUNDS  

[shimlbit]

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« Sent to: shimlbit on: November 16, 2014, 04:27:09 PM »
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as is say it 1000 times..price dropping after trading begins..itds cuz of devs bought their own coin pump alittle than dump...

and it will fall and fall and fall...until 1sat in next weeks.....

haha u guys should spent all ur btc instead of donating it to "devs"

---------------------------------

i was 100% right! they deleted everything...but all flame me...and now they are crying and devs on bahamas!

[RiverBoatBTC]

well we all know david has ties in the bamahamas he was a Pirate there... Know another person who was a pirate that screwed the community?\


Pirate40

[MisO69]

I can understand people wanting to make money. But taking ICO risks on ANY altcoin with anonymous devs is just plain dumb.

And what the fuck is with this new shit IoT ?! Internet of Things! really, do you really believe that they will be putting a blockchain on everything out there? Cars, refrigerators, watches, phones, GPS units, on and on the list goes. Maybe the investors believe that others will be gullible and buy their shitcoins at a premium? NO! Then cry when things go sour. I have zero sympathy for these people.

[RiverBoatBTC]

I can understand people wanting to make money. But taking ICO risks on ANY altcoin with anonymous devs is just plain dumb.

And what the fuck is with this new shit IoT ?! Internet of Things! really, do you really believe that they will be putting a blockchain on everything out there? Cars, refrigerators, watches, phones, GPS units, on and on the list goes. Maybe the investors believe that others will be gullible and buy their shitcoins at a premium? NO! Then cry when things go sour. I have zero sympathy for these people.

You should read the moderated thread they have... Its like a jim jones camp for altocoin. The last page is getting better think people are waking up a little.

[RiverBoatBTC]

yes bitbayshitbay is mine besides that why would I use another account lol?

[RiverBoatBTC]

Looky looky

https://chainz.cryptoid.info/bay/#!rich

Dumped 90 mil Bitbay on the same day the escrow was released... hmmm

The richlist 1st wallet holds 360 mill coins at the moment.
There were 450 mills utill 2014-12-08 15:49:20   

That suspiciously looks like about the time bay started selling for sub-100 prices.

The ico i belive raised 1300 btcs   by  the times 550 million bays were sold.

1300 btcs = 541.66 mill bays * 240 satoshis
 
The remaining 460 million were supposed to be burnt .. but they werent ..

Exchange wallet. Your figures are totally incorrect as well. What's your point?

Nope its not an exchange wallet.and my figures are correct .
https://chainz.cryptoid.info/bay/#!rich
There was a withdrawal of 90 million coins on the 8th of December

What the hell is going on wasn't the ico completed at 300 sats why is this coin at 83 sats now? seems like the whole community is dumping!

Nope its just the bays that were not sold during the ipo that are being dumped now .

What the hell is going on wasn't the ico completed at 300 sats why is this coin at 83 sats now? seems like the whole community is dumping!

Nope its just the bays that were not sold during the ipo that are being dumped now .

Makes sense. What makes you think that the unsold bays were supposed to be destroyed? I couldn't find anything about that. It seems like any remaining bays would belong to the developers to do with as they thought proper.

Thought it sold out https://cryptocointalk.com/topic/21458-annbay-bitbay-decentralized-marketplacesmart-contractsiot-techico-on-bter/page-2

Looks like its old bobs addy, 36 addys own over 80% of bitbay can you say DUMP

[barabbas]

I have posted this already: 550 BTC were sold in the ICO. The rest, around 80% of the coins, are in Bobsurplus and ghe "chinese's" hands (minus the 20 million given to Zimbeck as part of his deal). They have been dumping since day one and will continue regardless of the pricr which will soon reach single satoshis. The only possible interest in keeping it going is if a thresold is required, for real, for BTER to release the final 33%. But even if it is, it will just be a formality. The coin is already technically dead and yhe dumpkng will contknue to the last satoshi.

Sorry fanboys but you were told in plenty time to avoid the blood bath. Now it is already way too late.

[RiverBoatBTC]

one of bobs group posted in bitbay admiting to it then deleted it, I wish I could have kept it.

[barabbas]

one of bobs group posted in bitbay admiting to it then deleted it, I wish I could have kept it.

Many people saw ot and can be reposted anywhere at any time. But it isnt needed at all since everyone knows it is a scam and a dead one at that. Zimbeck, by the way, is not doing any deleting. He doesnt even have that capability -nor he wants to have it-. He is just a hired coder. The mastermind is Bob.

[Nxtblg]

I'm certainly glad I avoided this one...

[RiverBoatBTC]

I have posted this already: 550 BTC were sold in the ICO. The rest, around 80% of the coins, are in Bobsurplus and ghe "chinese's" hands (minus the 20 million given to Zimbeck as part of his deal). They have been dumping since day one and will continue regardless of the pricr which will soon reach single satoshis. The only possible interest in keeping it going is if a thresold is required, for real, for BTER to release the final 33%. But even if it is, it will just be a formality. The coin is already technically dead and yhe dumpkng will contknue to the last satoshi.

Sorry fanboys but you were told in plenty time to avoid the blood bath. Now it is already way too late.

I am going to address this since you made a dickheaded comment, I do not trust what you say no more then I trust what david says period. You hold 0 credit with me and I fact check everything for myself, as EVERYONE should or you are "drinking the kool aid".  Thats how people make mistakes is by following what others say and not checking for themself, so yes you may have said it, but I did not read it nor will I read it. I will post what I FIND TO BE correct.