Re: [ANN] Bela — Powering the Belacam Social Media Economy

Disappointed that I held BelaCoin for over a year and a half and just found out I lose all of my 5900 belacoin because I did not catch the swap. What are my options? Thanks!

maybe not just me but also others. if you don't swap, what happens to belacoin coins? I still have belacoin tokens, I hope there is a swap loop.

Hello there,

Bela (The Ambia Fund) screwed the swap. There perhaps were over 1 million belacoins aka Legacy Bela which were not swapped in the way-too-short timeline they gave. Many BELA supporters lost money, because they never got information to be prepared of swapping in given time. Swapping is not anymore possible. It went so wrong, that it feels like a written plot. It just sounds like they planned this to happen. They must have known that not every Belacoin holder gets the information in time.

The founders and operators of BELA are young and inexperienced fellows who didn't consult experts or authorities how to proceed with this swap. They also didn't find out what are their legal responsibilities in the action. Or they knew and took a risk.
It's important to understand that management who doesn't take care of community members can't be trusted to take care of the core product either. There will be more mistakes and no-one can guarantee that there wouldn't be a new swap, and more members money to be lost. Even if the core idea is good, it's wisest to be extra careful with BELA. It already has lost member's money and haven't given any helping hand to those who need it.

Now, the best way to proceed with this topic is to group together and find legal help to start a full scale investigation of BELAs business operations, swap policy and fund handling.

Whoever lost the value of their coins, you are not alone. First we have to find out how many there are and how many coins were not swapped. Then we proceed with facts. Let's keep every new member educated about how things went. We won't forget.

How much time do you need to swap your coins and how would you prefer to be informed about swap?

...Changes like this must be done in the way that you can always swap your old coins to the new ones. Always means at least 1 year, preferably 5 years. And all forms of communication has to be used to inform about the swap - this means that when you start a co-operation with exchanges, then the agreements includes the responsibility of exchanges to inform the coin owners about swapping and other changes.

Now, BELA had no influence at all. Nothing. Pathetic, really - should take better care of the people who has believed in you.

At least 1 year? One big miner will mine the majority of bela and swap.

I see your point and you have a valid one. But if we concentrate for a moment to people whose coins are in exchanges, then there should be fallback plan for those investments. No miner can deposit their coins anymore to exchanges when it's together with trade is frozen. Those coins which are still in the exchange should be approved to be swapped much longer than 2 months, don't you agree? I don't see risk in a policy like this.