I'm concerned. I'm going to sell my coins. If all this coins do to promise profit is mining and trading other coins then there is no future in qbk. I'm sorry, but this is too much of a gamble for me.
What if they have a bad day or week or month of trading, then there will be no profits for the investors but I bet the core team will still get paid.
This is a ponzi scheme. It's using future traders to buy into this coin. It's like what this crook Bernie Madoff did...
Good bye group. Nice knowing you and good luck to the rest of you.
Even if all the QBK holders sold their coins, we would still have assets left but you are most welcome to go and invest in another coin of your choice, we hold no one with a ball and chain. We will give a list of all wallets holding the assets at the end of the monthly audit date and after we have paid all the bagholders.
I sold what I had in several batches, only had a little over 400 coins. If ponzi scheme is not the right term, then my limited english is prohibiting me from coming up with the right term.
If all QBK holder sold coins, then you wouldn't have to pay people monthly dividends which would be great for you. Your assets are based on your trading strategies and betting you would make money on those trades. I understand you have some reserves which can cover loses but how far can you go with that if crypto markets go into downward trends and you cant execute profits on trades.
And you did take time off, you took a holiday in August to move. Just wondering where that money came from?
This will be my last post on this qibuck forum thread. being told not to leave criticism is like removing freedom of speech. I live in a country which prohibits freedom of speech and I can't wait to move.
Crying 'Ponzi scheme' after you traded the coin for profit(or not) is unfair. Had they not paid the monthly bonus or ran off with your money, then; yes, you would have a case.
The logistics of keeping an accurate and up-to-date ledger is going to be an ongoing nightmare for this team. Most certainly, the trading department. Its going to be a struggle to prove or show accurate and detailed information on trades, profits, and losses. This alone, will open the door to people questioning the finances.
I have not looked recently. Has there been a balance sheet posted that shows profit/loss, expenses, etc. over a month? If not posted; it should be made accessible to shareholders or coin owners in this case. Ambiguous entries showing so-and-so got btc for this and that is not going to fly.
Qibuck coin is a high risk investment without a doubt. I was not impressed with IPO funds being used for trading other coins. Even the whale/backer/professional trader person gave up and sent the 10 btc back. Obviously, the trading went bad or he pocketed profits for himself. No way of knowing without accurate bookkeeping.