[ANN] SMAC - Accounts have been suspended project closed

[penoze]

Buyback has been executed: http://puu.sh/iPXw7/0ddeeb18b1.png

how much you will buyback ??

click on the link and you see the buyback was ~1 btc
Not a lot this time...
The positive side is that 18K coins will be burned so we don't see them again on the market.. 

[1715248061]

1715248061

[1715248061]

1715248061

[1715248061]

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[rahmad2nd]

Buyback has been executed: http://puu.sh/iPXw7/0ddeeb18b1.png

how much you will buyback ??

click on the link and you see the buyback was ~1 btc
Not a lot this time...
The positive side is that 18K coins will be burned so we don't see them again on the market.. 

thank's for information...

[Soul_eater_123]

News was that buyback will be executed today, what other news you need. That's all for this week I think.

Are you right in the fucking head mate or do you just have a really short memory?  Maybe this will help:

- Current news on the marketplace which we were told was central to SMAC's success and was due to be ready weeks ago but has not been mentioned at all.
 
- Why the buybacks are shrinking each time instead of getting bigger (this month was supposed to be a higher percentage of revenue but is less than a quarter of last month's amount which was itself less than the previous month)?

- What is being done to promote the coin (considering they are supposed to be marketing experts)?

- What will be done to increase volume and prevent the constant threat of delisting?

- Why don't the team give regular updates anymore or answer questions as they did previously - (giving the distinct impression that they don't care)?

- What has become of the roadmap - (remember that? -  I have copied the pic below as a reminder)?

- Why the fuck any of us should continue to support this or believe that the team have any fucking clue what they are doing?




That's just for a start - help me out here - am I the only one who thinks answers to these things are reasonable? People like myself, Penn and Wurstglee have been avid supporters of this from the beginning but if the developer(s) don't even respect us enough to answer our basic questions then what are we expected to do?

[Kruemmelmonster]

seems like we are all REKT.

just executing buy back without any proof of not buying your own coins doesn't make it better. c'mon boxxa show us that you have some balls and stand up and give us a response.

[barabbas]

News was that buyback will be executed today, what other news you need. That's all for this week I think.

Are you right in the fucking head mate or do you just have a really short memory?  Maybe this will help:

- Current news on the marketplace which we were told was central to SMAC's success and was due to be ready weeks ago but has not been mentioned at all.
 
- Why the buybacks are shrinking each time instead of getting bigger (this month was supposed to be a higher percentage of revenue but is less than a quarter of last month's amount which was itself less than the previous month)?

- What is being done to promote the coin (considering they are supposed to be marketing experts)?

- What will be done to increase volume and prevent the constant threat of delisting?

- Why don't the team give regular updates anymore or answer questions as they did previously - (giving the distinct impression that they don't care)?

- What has become of the roadmap - (remember that? -  I have copied the pic below as a reminder)?

- Why the fuck any of us should continue to support this or believe that the team have any fucking clue what they are doing?




That's just for a start - help me out here - am I the only one who thinks answers to these things are reasonable? People like myself, Penn and Wurstglee have been avid supporters of this from the beginning but if the developer(s) don't even respect us enough to answer our basic questions then what are we expected to do?

This.

You guys were told with plenty time, I don't understand the "surprise"... When you have been adequately warned, and you insist on being taken, well...

[wurstgelee]

seems like we are all REKT.

just executing buy back without any proof of not buying your own coins doesn't make it better. c'mon boxxa show us that you have some balls and stand up and give us a response.

At least some of these coins were not theirs, I sold a few k I bought for half @ earlier dumps.

[SMAC-Media]

I am not quite sure why you all are freaking out we have done everything we have promised thus far we have not sold ANY OF OUR COINS and continue to execute the back buys every month AS PROMISED. The forum/marketplace is still under development as stated in the  last newsletter...

[dadon]

I am not quite sure why you all are freaking out we have done everything we have promised thus far we have not sold ANY OF OUR COINS and continue to execute the back buys every month AS PROMISED. The forum/marketplace is still under development as stated in the  last newsletter...

Im still holding and not freaking out, continue on, patience pays.

[Soul_eater_123]

I am not quite sure why you all are freaking out we have done everything we have promised thus far we have not sold ANY OF OUR COINS and continue to execute the back buys every month AS PROMISED. The forum/marketplace is still under development as stated in the  last newsletter...

I'm pissed off at the lack of communication or direct answers to the majority of mine and others' previous questions e.g. about the shrinking buybacks/lack of volume/poor promotion etc.  The fact that you are now acting like this is surprising is in itself rather worrying particularly as these questions and concerns have been voiced multiple times without being properly addressed.

I see now that you are referring to the marketplace and forum as the same thing so it is not surprising that people are confused.  Even when the market is finished (assuming it gets finished) what will be done to increase volume?

The simple fact remains for a coin based on marketing there has been a remarkable absence, inability or perhaps unwillingness to market SMAC itself.  Few know it exists and many of those that do have lost faith in the team to the point of selling at significant loss.

BTW I have not sold any coins either but the recent dumping proves my point about investor confidence.  Most people will silently dump rather than posting on here particularly if they see that the devs don't seem to care.  Given previous experience of what that means in the alt scene most people will assume the worst and attempt to recover whatever BTC they can rather than lose it all.

[Soul_eater_123]

In addition to answering my questions listed above here are some suggestions for getting this back on track:

1) Regular communication and updates.
2) More transparency on the revenues for buybacks, with proof of purchasing and evidence of burned coins - for example with the burn wallet being held by a trusted third party such as Bittrex who can give independent confirmation.
3) 100% of the revenues to be used for buybacks until (at the very least) SMAC has sustained volume of over 0.2 BTC per day and is above the ICO price.
4) Some realistic dates for the market being ready.
5) More details on exactly how the Social Media Advertising component is being run to allow some community brainstorming on ways to make it more effective.
6) Some realistic plans on increasing long term volume for SMAC including use cases/utility - this can involve community discussion/suggestions if the dev team are out of ideas.

[Penn.3D]

In addition to answering my questions listed above here are some suggestions for getting this back on track:

1) Regular communication and updates.
2) More transparency on the revenues for buybacks, with proof of purchasing and evidence of burned coins - for example with the burn wallet being held by a trusted third party such as Bittrex who can give independent confirmation.
3) 100% of the revenues to be used for buybacks until (at the very least) SMAC has sustained volume of over 0.2 BTC per day and is above the ICO price.
4) Some realistic dates for the market being ready.
5) More details on exactly how the Social Media Advertising component is being run to allow some community brainstorming on ways to make it more effective.
6) Some realistic plans on increasing long term volume for SMAC including use cases/utility - this can involve community discussion/suggestions if the dev team are out of ideas.

Looks like #1 ain't gonna happen (here we go again with the silent treatment that we have all come to expect   )

Lesson to all.....don't invest more than 1 or 2 btc in ICO's because you risk losing a LOT of money!

Actually that was advice to myself  

I am equal parts   and   at the moment

[Nartj]

In addition to answering my questions listed above here are some suggestions for getting this back on track:

1) Regular communication and updates.
2) More transparency on the revenues for buybacks, with proof of purchasing and evidence of burned coins - for example with the burn wallet being held by a trusted third party such as Bittrex who can give independent confirmation.
3) 100% of the revenues to be used for buybacks until (at the very least) SMAC has sustained volume of over 0.2 BTC per day and is above the ICO price.
4) Some realistic dates for the market being ready.
5) More details on exactly how the Social Media Advertising component is being run to allow some community brainstorming on ways to make it more effective.
6) Some realistic plans on increasing long term volume for SMAC including use cases/utility - this can involve community discussion/suggestions if the dev team are out of ideas.

Looks like #1 ain't gonna happen (here we go again with the silent treatment that we have all come to expect   )

Lesson to all.....don't invest more than 1 or 2 btc in ICO's because you risk losing a LOT of money!

Actually that was advice to myself  

I am equal parts   and   at the moment

Hi guys, I'm back!

So... it seems like smac went south?

SMAC = SCAM

HAHAHAHAHAHAHAHA!

[Soul_eater_123]

Looks like #1 ain't gonna happen (here we go again with the silent treatment that we have all come to expect   )

Lesson to all.....don't invest more than 1 or 2 btc in ICO's because you risk losing a LOT of money!

Actually that was advice to myself  

I am equal parts   and   at the moment

Looks like we've all learnt a lesson here.  It's almost comical that the dev came on to ask why everyone was freaking out - whilst answering none of the previous questions or concerns.  Well let's hope others have learnt from this too and will not invest in anything that these jokers do again.

[SimkoMiner]

When is the next buyback?

[Soul_eater_123]

When is the next buyback?

Don't bother waiting for the devs to answer - they don't give a fuck.  If it happens should be the last day of the month i.e. 31st July but don't bet on it - the last one was delayed for no obvious reason.  Given the downward creep I wouldn't expect more than 0.2BTC even if it does happen so it's pretty much irrelevant anyway.

[rahmad2nd]

so buyback just 1 BTC ??

[Soul_eater_123]

so buyback just 1 BTC ??

No it was actually 0.93 BTC.

[wurstgelee]

Until now it was "only" ignoring (reasonable) questions.

Now those questions get also deleted from the thread?

Great work....

[Penn.3D]

the game plan for the devs at this stage is probably just to let the coin get delisted. they win, you all lose.

facing reality, they probably dumped coins on to do the last "buy back". dump 5 btc, buy back 0.93 btc? that's convincing. they didn't burn the buy back.

but hey you can always reach the devs on twitter or email, right?

I still believe that the devs had good intentions, but in the end I'm pretty sure the issue was that they just couldn't figure out a way to get volume to SMAC.

That being the case, I wish they could have just communicated that and maybe we all could have brainstormed together about how to get volume to this coin. Instead they chose to essentially disappear and ignore all questions on the forum and all PMs. Now look where that got them.

Wtf was I thinking when I invested around 10 btc in this??

Shame on ME!!!

[Soul_eater_123]

I still believe that the devs had good intentions, but in the end I'm pretty sure the issue was that they just couldn't figure out a way to get volume to SMAC.

That being the case, I wish they could have just communicated that and maybe we all could have brainstormed together about how to get volume to this coin. Instead they chose to essentially disappear and ignore all questions on the forum and all PMs. Now look where that got them.

Wtf was I thinking when I invested around 10 btc in this crap??

Shame on ME!!!

I think you're right but the spineless way they have behaved is just as bad as perpetrating a scam. 

There were many of us here who were willing to work with the devs to come up with ideas and find ways to take this forward - you were one of the most active people on here.  Unfortunately they were initially too arrogant to admit there was a problem and then after a while they just chose to go off and ignore us as if the problem would just go away. 

We invested in this in good faith - I can accept a coin failing if the devs have tried all they can to succeed.  It is much harder to accept failure on the basis of the developers neglect, aloofness and general unwillingness to communicate.  They have essentially run their own ship aground when this could easily have been turned around with community help. 

Clearly they view those of us who supported this with utter contempt.  The fact that they don't even have the balls to come on here and admit their failure makes my blood boil and is proof of this.  They haven't mad a single attempt to reassure people or stem the tide of fear and uncertainty here.

If they had any kind of decency they would use the ICO funds to put up a buy wall at the ICO price so that all the people that they betrayed can at least get some of their BTC back.

Their reputations are trash now and I sincerely hope people take this as a lesson to never invest in anything that these people do again.  Is there a BCT thread with a list of untrustworthy developers? If not there should be and they should be on there.