Post
Topic
Board Announcements (Altcoins)
Re: [ANN] Syscoin - Business on the Blockchain
by
techo051
on 15/10/2014, 18:03:28 UTC
At this point I'm sure no investors would object to the dev team getting the money in full. Fingers crossed.

I certainly support the team receiving their funds in full. They have showed their dedication many times over, and there is no reason to with hold any longer.

They shouldn't have been able to touch the escrowed funds, they weren't for them to use they were just for them to hold. They should all be there, and if they aren't then I think legal recourse would be more than appropriate.

@stormia this is 100% accurate and given light of the recent news we are working with Moolah/Alex to arrange a full release of all BTC escrow funds and SYS (remember the team spent 250btc of the fund as "buy support" during the launch issues to allow investors to exit without taking any loss themselves, this equates to 50-60mil SYS from what we've been told). We did not receive the 250btc payment that was due yesterday (10/14). Once we receive the full fund, we do plan to add buy support.

We are waiting on a reply from Alex (@slex) at this point, we understand things are likely very busy on his end but given the size of the funding we're talking about here we'd hope this is addressed as expediently as possible. I've been on Skype since the Moolah blog-announcement broke last night waiting to talk to him.

As mentioned in the blog post yesterday evening the team is still fully committed to Syscoin and the vision it represents. Please excuse us if we're a bit slow on development over the next 2-3 days as we work to resolve the situation with Moolah and retrieve our escrow fund.

Why would you add buy support after your experience with it last time? If people want to sell, let them. It's part of the price discovery mechanism and people who are selling obviously think that the current price is an appropriate one. It doesn't seem like the best use of funds IMO.