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Board Service Discussion
Re: GAW Zen Hashlet PayCoin unofficial uncensored discussion. ALWAYS MAKE MONEY :-)
by
jimmothy
on 21/11/2014, 23:10:52 UTC
So will we be getting an explanation as to why you cannot disclose your mining address and/or payout from actual mining earnings or is "I have my reasons" as good as it's going to get?

Use some logic. Do you really think it would make sense for us not to be mining for our customers? Do you it would make any sense for us to be so public, and attract all this attention, to not be doing something basic like mining?

Use some logic yourself.

I'm sure you can figure out why there have been dozens of identical ponzi schemes which you've set up your company to mimic. (i.e. hiding mining address, paying out "earnings" from new customer payments, etc)

Logic would tell me that there's no reason to hide a mining address unless the hashrate doesn't exist (or is a fractional reserve).

I made a poll on this forum and found that 2/3 people agree that hiding a mining address is a very good indicator of a ponzi scheme.

Quote
We are 100% prepared for any agency to come in and make us prove that every hashlet payout is backed up by a mining payout.

So why are you not 100% prepared to just post your mining address so anyone and everyone can verify that your company is not a ponzi?

Why can't you self audit via the blockchain like every other legit cloudmining company?

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I don't have to prove that to you, the understanding that if we are not are doing this, that would make us a security by definition and the price for selling a unregistered security is jail time is enough for me. I am pretty motivated to make sure we have the mining power we should have.

If a lawyer gave you that advice, I'd seriously recommend getting a new one and possibly suing the old one for malpractice.

If you are offering a profit sharing agreement of any sort, it is by definition a security.

No amount of wordplay and obfuscation will make you exempt from security laws/regulations.