Quote from: tkari on October 06, 2014, 08:02:52 PM

Quote from: Futune on October 06, 2014, 06:38:32 PM

I wouldn't call it a scam "yet". Unless they failed to deliver orders in appropriate time. Thats why I ask if other people made any orders. My pending order still have about 2 weeks time for processing (saw somewhere 7-10 days processing) if they don't count weekends. However, I believe something has to be done to clarify backing of their currency and bolster trust. If this whole thing is a scam then they probably won't care. But if its legit, the current price on bittrex will drive them to bankruptcy if everyone orders gold off them. Or maybe they believe it is good promotion and have tons of spare gold to give?

All of the coins are accounted for when mining?? How would they go bankrupt? They don't care what the price on Bittrex is.

I've been calling this a Fool's Gold Ponzi Pyramid from the outset.

1. There is no proof of gold
2. There is no proof of gold which they increase in quantity daily to justify the price
3. The mining "king" shows no proof of where the diverted hash rate is going
4. Midascoin claims their scrypt mining is 3x more profitable. How the fuck is that possible?
5. There's no proof of anything. Nothing.

I honestly felt bad about people being scammed but at this stage I wonder if people would invest in something scrawled on a double ply white paper with the words "Midas = gold, Bittrex!"

Btw, the bank where Midascoin claimed they stored gold says themselves they only do portfolio mgmt, from Twitter, this was the email reply;
http://pastebin.com/QGWsA8NF