Quote from: lawsonvl on November 13, 2016, 02:30:09 AM

Quote from: cryptohunter on November 12, 2016, 08:25:42 AM

Quote from: lawsonvl on November 12, 2016, 02:36:19 AM

https://www.paykey.com/#/team

Daniel doubled the size of his company.

Looking thru social media, it looks like he went on a hiring spree this summer.

But kept it a secret until election day.

Coincidental timing, I'm sure...

interesting ...perhaps he will be reopening the getgemz thread and bringing this new team back to work on this project?

If not why not? where did he get the funds to hire this new team? getgemz ico funds?

PayKey CTO Markovich Offer explained the situation in chat last month:

Getgems' $800k was a reward for "completing" the milestones.

The money was not actually intended for GG's development/operating costs; it was simply a payment for work completed.

The ongoing costs of GG were to be met by revenue from the Attention Economy.

Since the reinterpretation of the AE (ad channel) has proven to be a complete failure, the project cannot pay for itself.

Thus, the project is on life-support.

....

We can summarize the scam quite easily now:

1. Present the funds as a reward.

2. After funding, redefine the conditions to make the reward vastly easier to collect.

3. Keep most of the reward as income, rather then spend it on the project.

4. Move company resources to a different project where the reward is ultimately spent.

Even if they squeeze out it legally (which hopefully they wont if paykey takes off and becomes large enough to entice some legal firm to take a shot at them using gg funds for their new project) it is possible here to hound them and give them enough bad press that you can cause some damage to their new project. Either way they should not be allowed to provide such a blatant rip off/modification of already existing software for 1.2 M dollars.

Also i notice many of the main shills for this coin have gone quiet. I would hope they are not complicit and dumped out before the end came. Makes you wonder why they are not more bothered by this since apparently they had most of their crypto portfolio tied up in this scam.