Quote from: balvio on November 12, 2017, 09:54:13 AM

This post is a mix of truths and lies, allow me to make some necessary corrections, without upsetting anyone. My comments are purple, lies are red, the truths are green and the original is "no comments".

Greetings everyone. This update is to address an issue that has everyone asking questions. I do not need to bring to your attention anymore, that the value of XVP has been down for over two weeks now. I believe you're all already aware of the current price.
This update may have come a little late for which I implore you to accept our apology. The reason for the late response is because from the very moment we noticed the sharp fall in value of the coin, we have held several meetings and discussions to better understand the situation before coming out to address you. Therefore we feel this is the appropriate time to feed you the information you seek.
I will try to make it short and simple since I believe Balvio probably has a better explanation to offer those who want more.

THE SITUATION

1. A swap was held in March (15-25) following the collapse of Virtacoin (VTA), and the development of VirtacoinPlus (XVP) following a consensus by the community.

2. While the swap was ongoing, there was also vote on what should be done with the remaining XVP. The majority of the community agreed that remaining coins should be burnt to avoid a situation that could pose threat to the progress of XVP if dump should ever happen. On the other hand, those against burning believed remaining coins should be used for future development of XVP.

4. The problem however was that the bulk of the financial burden lied on one particular individual (Abledigital) who felt he does not have to spend for a coin that belongs to everyone as though it's his personal project. He was in charge of the swapping process and against all odds, secretly kept 2 million XVP with the view that should he continue to spend on XVP development without the community dealing with the financial responsibility, he'll use the 2 million XVP as an insurance to recover his funds in a situation where things go wrong.

According to him (Abledigital), he kept it a secret since he knew the community opposed the idea of keeping coins since majority want it to be burnt. If he did burn all coins and the community is unable to bear the financial burden of maintaining the coin, we may likely experience the VTA scenario and everyone would be a loser.

Partially untrue, there were offers to sustain the costs of the maintenance, but Emeka Okoli didn't liked it because he wanted to be in charge and control the coin.

3. At the end of the swap on March 25, about 1.5 million XVP was remaining excluding the 2 million XVP kept secretly.

Partially untrue, visit the graphics below. There were no statistics to testify your sayings.

4. Attempt to burn the remaining 1.5 million coins proved to be a challenge according to those in charge of the process with (Abledigital) of course, being the lead. Burnt address provided by the coin developer failed to work and other efforts were resulting in conflicting transactions. However, following an advice to uninstall the wallet with the coins in it and format the computer seemed to have been the solution. It was then announced that 1.5 million coins was burnt.

I have my doubts as long as no proofs were published.

5. Abledigital continued bearing the financial burden without complaining. Everyone was counting on what they considered as a personal sacrifice from Abledigital, unknowing to them, he has coins kept as insurance.

6. Some time later in October, there was a huge dump of XVP on bleutrade which sent price crashing down. It was observed and later discovered that the 1.5 million supposedly burnt coins reduced to 1.3, 1.2, 904k and on. The question of how comes rent the air with Abledigital left with the task of providing answers since he did the burning himself.

7. According to Abledigital, he has no idea what happened but posited that the developer could possibly have taken control of the coins. He said the developer was the one who handed over the premined to him and as a result, likely has a copy of the wallet file. Abledigital therefore requested that another swap be done to prevent the developer from doing more damage. However, considering the cost of doing another swap, members of the development team were not in support of the idea. For this reason, Abledigital Okoli who felt he has spent so much on maintaining the coin and developing services, decided to dump his 2 million (1.55m) coins in a bit to recover his funds before things get much worse. That was why the value went so low.

This is what is called a pure lie. I raised questions never answered: https://docs.google.com/document/d/16YW_6tH8kwNKOZx8jhXa5P8Vs3pPUgDh4psA8YGFqvs/edit?usp=sharing and I have posted proof that, at that time, the burned coins were not sold yet https://docs.google.com/document/d/1YIeBLrcsq7YP_ugjhhBcBDP4WWpKoFmKXwoIqLbNNR8/edit?usp=sharing. In ny opinion, from the start to the end, your statement is a big lie.

8. He did everything secretly until Balvio was able to discover that Abledigital was in possession of 2 million XVP. Abledigital then called a meeting and explained what actually happened and apologized for his action for secretly keeping 2 million coins, and dumping the coins in the market out of fear of not being able to recover the money he spent on XVP development.

I was not part of that meeting, so I don't know how many new lies he told.

9. The current issue at hand is that beside the 2 million coins issue, Balvio also keep insisting that the burnt coins were not stolen, but are also in the possession of the duo of Abledigital and one other member in the community, an allegation denied by both. Balvio's insistence has led to the stagnation of community activities, but some members blame the current challenge to lack of organization from the beginning, and dependent on one individual to bear the financial burden. They are with the opinion that what has happened has happened and people's investments are at stake. Therefore, the most important thing to do now is to work out a solution and move on since much of the coins has already been sold and are in circulation.

Take a look at the two captures, first is the wallet which hosts the burnt coins address and the second is one of Emeka Okoli's wallets. The total of the two wallets is 4.5 Million coins which means 50% of the premined. On October 18, which is a reference date, the coins were in two wallets:

just go to this link https://chainz.cryptoid.info/xvp/wallet.dws?1.htm and hit "History"

just go to this link https://chainz.cryptoid.info/xvp/wallet.dws?41.htm and hit "History"

Question for kids: who do you think is the owner of the first wallet?
Question for people who possess at least two neurons in their head: which damn stupid thief developer in this world keeps stolen coins in the same wallet he stole, knowing that it belongs to his client?

This is a brief explanation to what has been going on but if you are interested in a much bigger picture, Balvio may likely fit the bill by providing you with it. However, the fact remains that if we continue to dwell on the problem, we are left with the opinion of either accepting our loss and quitting, or coming together to fix the past. The only reason we will remain where we are due to this unfortunate situation, is to not see the possibility of coming out of it.

Well, I have a proposal to fix the past and move on: Emeka Okoli should return the 1.5 Million coins (suppossed to be burnt) back to the Community in a special Fund managed by some serious people in this community (3-5 honest individuals, Emeka Okoli could be part of it. But he cannot manage coins by himself because he has proved himself incapable).

I remember saying the low value should be seen as an opportunity to buy more. But now I feel I should apologize to anyone who took my advice in case you are not in agreement with the members who are seeking a solution instead of throwing in the towel.

Nobody is so much stupid to buy coins right now, knowing that 50% of the total premined were in one person's pocket - Emeka Okoli. He and VirtaLocal are now totally controlling the XVP coin, dumping and pumping they are making good profits starting October, 18.

Abledigital has apologized and assured everyone that there'll be a solution to the problem. More update will be available later when available.

A crypto-coin led by shit people is usually called "shitcoin".

Lastly, he won't continue to bear the burden anymore, but he will be willing to support the coin like every other member of the community.

Before he gives us his availability, he should prove he has a little HONOR.

THIS ANNOUNCEMENT IS BASED ON THE OUTCOME OF OUR LAST MEETING ON CURRENT ISSUES

Thanks for your time.

I got a message on chat that you've finished a great job. I must commend you for that. Frankly I won't say much because you already know my position from the beginning of the drama.

One thing you skipped from the announcement is the fact that I pointed you'll provide your version of the situation report when you're done. My joy is that everyone has a choice to make.

The information you provided will help people decide what they feel is best for them. But that does not mean everything you assert is true. People are usually right in their own eyes.

Lastly, I did not post the announcement at the request of anyone, but at the request of someone called Albretch. You should know the bearer of that name I believe.