Some observations:
1. Natfarma. Any chance the individuals behind this company are affiliated to the individuals behind Titus? Please elaborate on and substantiate the claim "leading parapharmacy". It seems very much like another MLM-esque natural remedies b***ocks. Would expect more from a "leader" in its field.
2. From the article in it-finans:
- How is your solution with so-called "supernodes" different from the existing BitCoin solution in terms of verifying a transaction.
Technical details please.- How come your out of the box, brand new product can possess more computing power than what is currently in play for verifying BitCoin transations (which is the implication of your claim to provide "instant payments")? Or could it be that your "Titan-node" decides what is to be verified and what is not, i.e. not really a distributed solution but rather a monopolistic? If both are wrong, then please explain how TitusCoin can provide "instant payments".
Technical details please.- The article also claims that TitusCoin provides for offline transactions. How is this possible as it must mean that the transaction is not verified? In the Titus-universe, an offline transaction surely hasn't happened until your super-nodes are alerted to a validation request, which I presume is made online rather than by carrier pigeon (a method which would not be in keeping with the "instant payment" claim anyway)?
Technical details please.- You also claim that TitusCoin can be converted to fiat currencies (e.g. USD, EUR) and the conversion is in real-time. Let me remind you that settlement of spot forex is T+2 so, who eats the risk until the trade has settled, Titus, the customer or someone else? A conversion in "real-time" is only good so long as both parties uphold the IOU:s which were created at the time of trade execution, i.e. to deliver the goods on the settlement date.
Technical details please. - What bank do you use for currency conversion and how did you get them to accept TTS? If they don't accept TTS, how do you pay for the trades your customers do (in what currency)?
- Are customers' monies and TTS held in accounts segregated from the company's own money? How are customers' funds safeguarded? Client money accounts?
Technical details please.Other disturbing information:
1. The VIP Coin Sparkassa was previously called Towah Gold Sparkassa. There is a plethora of negative information about Towah Group and the individuals behind it. Please explain the link between Titus and Towah and any individuals that are involved.
2. The statutes for VIP Coin Sparkassa stipulates that membership is limited to 1000 natural persons. Please comment on how you are to onboard more members/ambassadors or whatever you call it than that?
3. The statutes for VIP Coin Sparkassa requires that in order to become a member, one has to be a customer of Fennas Finance. Why is this? Is it Fennas Finance AB or some other version of Fennas Finance?
4. The officers of Fennas Finance AB include a Norwegian individual who is well known in connection with the Towah Group debacle. Please explain why and what his role is.
Finally, please subject Titus ICO and all surrounding structures, including the technical solution, to an external audit by one of the Big 4. Then present the results. Until then, the legitimacy of your so called product is null and void and looks like nothing more than yet another empty MLM-shell with cheap gifts (purchased using the initial punters' monies no doubt) given out to appease the blinded crowds. Where is the product?
To all: this does not pass any type of smell test. The so called white paper is a load of tosh and appears to have been written by people who know little about crypto currencies as well as financial market. Do proper due diligence and buyer beware.
Link to UK regulator website about the risks of ICO:s:
https://www.fca.org.uk/news/statements/initial-coin-offeringsLink to Swedish regulator website about the risks of ICO:s:
http://www.fi.se/sv/publicerat/nyheter/2017/varning-for-risker-med-initial-coin-offerings/Look forward to all your detailed answers.