Re: [ANN] Syscoin - Business on the Blockchain

So the developers rip off the investors and then the escrow hijacks the funds. You couldn't make it up. What a sorry little tale of rapacious greed. The simple lesson is not to trust IPOs.

Developers DIDN'T rip off investors, that is getting your facts wrong. This WHOLE situation is Moolah/Ryan Gentle, everything. The launch was not that bad, some minor bumps, but they should have gotten funds from Ryan asap afterwards.

Ryan is now found out to be known scammer and set up moolah company playing off as a legit company, but he's a scammerartist.

This has nothing at all to do with syscoin itself as a coin, and developers, development and future projects of this coin.

If your mad, then Ryan Gentle is the man you should be taking your anger out on.

I'm not mad. I bought and sold (at a loss) after the IPO fiasco. But I still have a copy of the original totally dysfunctional wallet first released after the IPO. None of the promises made for the IPO were upheld with that release, none of the refund promises were upheld, and instead Moolah held onto the funds to ensure that the developers worked on fixes for that abortion of a release.

And now Moolah have embezzled the funds. I'm thinking of having talks with Spielberg's agents about a movie or mini-series.

+1. Excellent summary. Moolah's not the only one to blame for this sorry mess. A smooth, solid launch that had delivered on promises would've averted all this.

I had doubt about this when their wallet crashed and their childish behaviour and then I sold.They also said about:

Service Fees:
Fees are an important part of the Syscoin network since they enable the existence of Syscoin and all of it's innovative services.
Syscoin directly recycles transaction fees by regenerating them and redistributing them to network miners. The regeneration of service fees is the key incentive for miners to continue to mine Syscoin once all base coins are mined, and thus enable and guarantee its services into the future.

But in reality there is no service fees when transferring syscoin.So all blame goes to Moolah.