Thank you for that and totally understand you anger.

I know whatever I say now means sweet FA to any of you and I expect that and understand why you feel how you feel.

All I can say for the last time in this thread, is that I am very sorry about what happened, I did not foresee it and it just should not be.  That is about all I can say.

I have transferred all of my remaining CRDNC and BTC from ICO to Crypto Kong, I am not sure what his plans are but whatever he does he will have the majorities interests at heart and that is all that matters.

I feel that by handing over all funds to someone else that I have taken maybe a small step to show you I am not a scammer if you choose not to believe it then there is not much I can do about it, but I can hold my head up high knowing that it was NEVER my intention for this to happen and I have done all I can to rectify it and been here to cop it on the chin, being part of the team I would have been getting slaps on the back if Credence never died and was sitting at $50 but instead it is the total reverse and I am still here although this will be my last post on this forum, ever.

I wish you all well in your lives and sincerely apologize for what happened, I hope you all have much success with Crypto and other aspects of your lives.

Goodbye.  

I can confirm the above and will re-open this thread and post proof of all transfers once complete. 

You are right there is no point in continuing this topic, it is not my intention to give anyone hope or in anyway suggest they purchase this coins at the moment.

I am trying to find a solution that causes the least amount of harm to the most amount of people.

I said it before it was never my intention for this to happen and whether or not someone takes over the site, if that is to be the case it will be made public and up to them to go from there.
They will receive all coins I own, the whole site and the remainder of ICO funds that I hold.

If that does not happen I will revert to repaying everyone still holding from the ICO. 

Either way, I won't be keeping any of the funds.  Some of you will think that is a lie and you have every right to think so given what has happened.

I will unlock this thread later on when a decision has been made on what is happening. 

This Dev is Honest and is totally shocked by what has happened and I would not be here to face the music if this were not the case.
And I am sure many of you are feeling shocked, angry, ripped off and dismayed along with a few other explicatives about what has happened, all I can say is that multiply it by 20 and I feel the same.  I was blind-sided by this and saw it coming as much as you did. There was no need for it to happen at all but how and when and the way it happened still has me personally in shock.  There has still been no communication so one can only assume the worst.  

My initial response was truthful when I said we are moving funds around as I had asked him to send me both some premine and BTC for the site going live, so when someone mentioned pre-mined movement I assumed that was what he was doing, then after the 2nd movement and the price tanking it became clear he was not shifting funds around he was dumping.   By the time he was finished it was too late that is why I tweeted do not buy any on exchanges.  

If he was hacked and said so then I could secure the remaining pre-mine and the personal and the coin could survive this but with 2.2M of coins out there potentially to be dumped at anytime then the coin can never recover as a lending platform in it's current state.  

Credence Coin was a great project, at completion and about to move to the next level and the business model was strong and sustainable and would have seen all investors profit.   The fact that this was done, not only to run off with a lot of the ICO money but by using the pre-mine it was done in a way that would see the coin itself destroyed really rubs salt into the wounds.  

He could have just waited 2 or 3 weeks and probably sold less of his personal and made the same if not more money but instead he decided to destroy the coin and run off and remove all contact.   Had he said he wants no further part in it and sold his personal over a 3 or 4-week period Credence still could have survived that but instead it was done how it was done.   As I said in a recent post, what he did he could have done in a slow and methodical way to dump his coins and make more money before taking off, but the fact that the premine was used and it was done in an obvious and aggressive manner shows he wanted to kill the coin, I still do not understand why and probably will never know.  

What makes it worse is people trusted Credence and the coin and its community would have seen it grow and grow and the Dev that has run off had he not done so probably would have been a multi-millionaire within weeks or months with Credence coin so again, I am dumbfounded as to why he would do this.  You think you know someone but this just proves you cannot trust anyone in crypto.  There is the still the slight chance he was hacked but even if that was the case I would have heard something from him by now and not been blocked.

I can only again offer sincere apologies to all affected, even though none of this was my doing and I did not see it coming I really am sorry for those who lost money.  

I know that talk is cheap but that is all I can do is apologize.  

So that leaves 2 options, I can either A.   Have a new coin made on a new blockchain and have the platform run with the new coin and do a swap for swap for current holders.  or B.  Refund every ICO investor a portion of their money, I will refund every single dollar that I have left from the ICO in a ratio to amount invested.   Unfortunately, I was also the one paying for all of the expenses for listings and the custom coding of the site and every other expense to do with the Coin and there is also the issue of those who dumped their ICO coins once the coins tripled in price on the markets. So some people will be paid for nothing but if their wallet balance is shows the coins were sold then no refund.  And the other dev had half of the funds so again it makes no sense why he would kill the coin when if he wanted to do a runner he could have just cut contact and walked away wealthy.  

Should option A be viable , I know that Crypto kong is part of one main group of investors and also is part of the Telegram which I am not.  If there was to be a new coin created I would do so under the proviso that the whole premine, website and coin is owned by that group of investors, not myself and I will send them the remainder of funds I have from the ICO for interest payments to holders.  I want nothing more to do with this other than to leave with my dignity and for all investors and supporters of Credence to know that at no time did I see this coming or plan for it to happen, you only get one shot at getting rich and that was mine and it is over, I accept that but it still leaves a bad taste in my mouth when I know what could have been.  

The platform is built and ready to go, and any coin can be attached to it, it is jut a matter of changing the coin and Daemon over.


So while I do not want to get into a lengthy discussion about how it will play out, because frankly I am ashamed to be even posting in this thread now.  I will contact Kong and see if his investment pals are interested and if it is to be the case then he can announce it to you guys.  Should they not be interested, I will post here one more time with details about how to obtain a partial refund for ICO investors.

Once again I am very sorry this happened and either way, I want you to know that I personally will not be left with $1 after this because I will either be refunding all of the remaining funds from my side or redistributing everything to a new project of which I will have no part of and have evidence of transfer if that is what will help the coin holders now more so than a partial refund to ICO investors.    

Dev Message

1.  What has happened is one of the devs who has control of part of the pre-mine has either been hacked or is selling.
2.  We are unable to contact but have left several messages.
3.  The site is completed and was due to release early in the next few hours we have put a hold on that given what has taken place.
4.  This is NOT a planned exit or scam, we stood to make a whole lot more money by running the site and having the coin grow naturally it was trading strongly at $4 before this happened and probably would have hit $8-10 when we went live, so if we are doing a planned exit scam it is the most pathetic one in history.  Nor would we be bothering to try and explain what has happened.
5.  Our only hope is 2 of 2 things.  1.  The Dev has been hacked and we can recover the majority of coins or 2.  We can contact him and have him send the remainder of the pre-mine and personal and still run the site without a massive amount of unaccounted for CRDNC on the market.  Should either of these things happen we would be in good shape but I do not hold out much hope at this stage.
6.  Want to apologize to all investors and believers in this project, this was NEVER MEANT TO HAPPEN and after spending weeks and weeks getting the site ready to have this happen is so wrong it is unfathomable.
7.  Can only offer sincere apologies and understand your anger and frustration and if there is anyway we can salvage the remaining majority of coins we will get the project running. 

So in summary, the following could potentially happen -

A.  The Dev with coins was hacked and if that is the case, we will recover all remaining coins and secure them in a public wallet or just burn them.
B.  We can still operate the site but with the knowledge that there are around 2.2M of coins not accounted for. 
C.  Wait to hear what happened if the other Dev replies and what the status is of the coins. 

It makes zero sense to just dump some pre-mine just before site launch and potential price gains so like you, are at a total loss as to why and how this has happened, once again apologies and if there is anything positive news wise you will be the first to know.  This is not and was never intended to be an exit scam, if it was it is the worst performed one in history.  Some of us had family and friends and even workmates invested in this project, not to mention the honest general public and words cannot describe the humiliation and embarrassment and regret felt right now. 

If there is anything to update that is positive will do so ASAP. 

No not really we were happy to see the coin on the markets so people could buy/sell as they please.
But yes it is toxic.  And it is the Internet and there is no IQ test to join Mercatox so what you see is what you get.   

Yes we saw it but we do not bother reading there for any more than 2 or 3 minutes.

If we wanted to dump our coins we would have/could have done so slowly and methodically over the last 2 weeks, selling a large amount in one hit is not something we would do to gain any advantage as all that would do is as you saw is drive the price down.

It is in our interest and our holders interest to keep as many coins off of the market as possible therefore increasing the price not decreasing it. 


We did not start any fudding there is a team of people doing that on Mercatox they do not need our assistance and as mentioned above, we have nothing to gain from that. 

Yes we think once people can trade without the distraction of people telling outright lies and trying to scare people in the troll box Mercatox will be a distant memory for Credence.

Their volume will drop and people will be able to trade without the white noise and watch their daily passive incomes give them steady returns.

We will announce on Twitter and here when the site is live and people can sign up and get their referral links. 

Not long now.    

When it is live, then you can register. 

Site will be live within the next 12 hours.   

Yes every pen test and vulnerability threat found has been rectified and mechanisms implemented to totally remove any of the findings.  Obviously we are not going to go into detail about the report or what we found and how we rectified it but it has been completed.

The load testing is completed and the site can easily handle 10 thousand concurrent users, we will look at the number of sign ups and monitor this and look to expand server size if we look like reaching 75% of any of our thresholds.

At this stage pending a few more internal tests it looks like we will release prior to the 9th, we will update here and on Twitter if this is to be the case.


Thanks
Credence Coin.

Not sure why you are rolling your eyes. 

We could have been staking the entire pre-mine since the release of Credence Coin if we so choose to, we do not need your or anyone else's permission as far as we are aware.

The pre-mine has not been staking to allow more network weight to current holders, again something we chose to do not something we were required to do.

Maybe you should see the pre-mine stake movement for what it really is, the wallet was brought on-line and synced up ready to transfer funds to the site for the soon to happen launch.   

Thanks!   The Credence Stars are here to stay, they are not going anywhere.   

Yes, it will be 0.0006 not the current rate. 

We had planned on altering that but are more focused on implementing the fixes as a result of the pen test but it will happen before going live to public.

Thank you for the reminder.   

Site will be down periodically over the next 24 hours as we make some adjustments following the Pen Test.

And we are not removing the stars sorry.  You will only see them at log in/sign up page and not on the main site.

Think of every star as a new dollar heading towards you.   

Credence Launch Update!

As you would have seen by other posts our login page although not made public was found and our site has been shifted over to it's new server and permanent home at www.credencecoin.co

We are not yet taking sign ups.

Some other details about progress -

1.  The site is complete and we have 2 more days of Pen Testing remaining as well as load testing.
2.  We expect total site completion ready for release around Tuesday but will spend a further 3 or 4 days testing the site so we are 100% sure all is working well.
3.  At this stage we are looking to launch on December 9 at 0600 Greenwich mean Time.   
4.  If we find any bugs in the mean time we may have to alter this but we do not think this will be the case at this stage, however if we do have to delay for security or operational reasons we will not hesitate to do so but will keep you informed if that is the case.

So yes, we finally have a date.   

One other point we should bring up is one of our supporters on Youtube "CryptoFlower" Beth, has had many of her videos about Credence and other projects cloned at least 20 times by other people who have cloned her videos but added their own referral links to the programs she is involved with, this is the reason we have the QR Code for referrals on the dashboard to try and stop this kind of thing.
 
Below are just a few examples there are many of them, and the same applies to many other sites.   Do a search for "Credence Coin" on Youtube and you will see how many clones there are. 





Thanks
Credence Coin

Did you not read the update a few posts before your post?

We can see truly see why most Devs do not bother to post on BCT.   

Last minute fudders signing up before release.   Good to see.   

Back to the troll box with you, you have much work to do there over the next few days.   

HI, if you look at the FAQ's on the site we removed the auto-reinvest feature for the time being because people will need to manually agree to take out a new loan.  
However if there is demand for it and the community wants it, once we are up and running and everything is running well we can re-visit that and implement it if people want it.  

We state up to 1% daily interest will be paid, this does not mean we cannot offer more than 1% on certain days which we will be doing.  

To further update, this is where we are at.

1.  The site is complete, we have taken out test loans and interest payments and all working great.
2.  The support ticket system is working perfectly.
3.  The Admin panel has been completed and we now have full functionality for the site from the admin panel and we are able to take snapshots of loans taken out, maturity dates, incoming vs out going and a wide range of statistics that will allow us to shape Credence Coin to be even more sustainable in the future.   We also have the ability to see percentages of those who reinvest, the highest referrers etc etc so our Dev team have done a great job with the Admin panel.
4.  The Exchange is working fine and buy/sell orders are functional as well as Escrow and other related exchange features.
5.  In the next 24 hours we will shift the site from the test server to the main server and conduct load testing.
6.  Simultaneously we will be conducting the Pen Testing and depending on what the results are of the Pen Test we will probably spend 48 hours taking out more loans paying interest and testing referrals so we are 100% sure the site is ready for release.
7.  The elephant in the room, what date will the site be live?   We cannot give you a answer to that with 100% accuracy and believe us we want this thing up and rocking just as much as you do but as we have said many times we are going to do so methodically and without compromising security or functionality of the site and if that means a delay by a day or two then that is what will happen but we hope to avoid this.  

So in summary, the site is complete we are putting it through a range of tests as mentioned above and you will not have to wait too much longer.   Our road-map said we would release in November/December so if we can release before the 2nd week or even at the end of the 1st week of December we feel we have still fulfilled our commitment to investors.  

We will update again as soon as we have any further news and hope to have a concrete date for site live by early next week.

Thanks for all who have held and supported Credence, we keep saying that and not just for the sake of it but because we do appreciate the community that has grown and those that can see what our vision is and how having a sustainable passive income with the safety net of the coin being able to survive long term rather than be under financial pressure is the best way forward.  


Thank You
Credence Coin.

You need to stop reading the troll box, do you notice how many people are there fudding Credence?

Believe it or not you can hire people to do that and that is what we think an entity has done even though ultimately they are failing miserably they have the occasional win like the last few hours where the price dropped but has since recovered somewhat.

The same as we announced a few weeks ago that a group had been paid to Spam our Twitter, we were receiving hundreds of phishing link messages every day then obviously the contract ran out and all of a sudden those messages stopped and our Twitter following dropped from 2,800 to 2,200 over-night, this happened about 3 days ago.    We were going to mention it but saw no point in doing so.    When these 600 followers disappeared it coincided with the Spam messages stopping.  So contract over they stop spamming. 


We are not sitting around with tin foil hats on talking about conspiracy theories but we are well aware that our product while not a HYIP site, it is stable, has a strong supporter base and we have set it up to be sustainable for the long term. 

The fact that we even reached $5 before even having a live website speaks volumes for the support this project has. 

And the number of accounts created both on this forum and more so on Mercatox to FUD Credence just makes us laugh, it tells us someone is afraid of what our platform will do. You do not need to pay someone to try and scare buyers of a coin unless you feel threatened by it.     

Unfortunately some people fall for the lies and FUD spread by these people and panic sell and that is what you have seen happen in the last few hours and at the time of typing this it has caught up to be just under $3 again.

Now you have people who have been posting in this thread since the beginning fudding the very coin they are invested in because they either failed to read the White-paper which has had our lending terms on it since the beginning of the ICO or they are just caught up in the general panic.

We are very close to releasing the website as you would know from the updates, we will see where the price sits then and until then we ask that you keep the following in mind -

1.  As mentioned we do not have a live website and the current price is still just under 4 times higher than the highest ICO price.
2.  We have released the coin for people to trade and do as they please with it not locking them into the site, if people want to sell CRDNC it is their prerogative that is why we are on markets it is your coin to do with as you please.
3.  If you believe the FUD then that is also your choice but you should stop for a moment and ask why so many people are trying to FUD this coin? 
4.  We are still the highest traded coin on Mercatox with over 50 BTC in volume. 
5.  The lending program is profitable, you just need to do the maths but if you did not read the white paper and think an extra 79 days is the end of the World when it comes to lending then by all means sell up now, the strong hands will buy up the weak ones. 
6.  We are confident the price will increase dramatically once the site is live, of course we cannot promise that but we believe this will be the case.
7.  We will be around long after many of the new HYIP sites without a coin or Blockchain currently being released will be, that much we can guarantee!
8.  We have a strong community that will help grow the coin and when people realize that stability and lower yield returns vs high risk quick returns is a better and safer way to invest we think more and more people will be attracted to the CRDNC community. 
9.  Of the top 19 holders from the BE we took a screen shot on the 20th and only one large holder has dumped all of their coins, which is probably why the drop earlier so out of the top 19 CRDNC holders only 1 has folded their hand, the rest are still in it for the long haul!
10.  Regardless of where we sit on the markets, we are still going full steam ahead and we look forward to being live and returning some great dividends for those who keep the faith.


Thanks.
Credence Coin.

Hi All,

          Without quoting an replying to every post since our last update, a big thank you to all for the positive comments and the criticisms we take all on-board regardless and appreciate your input.

This is just a quick post to answer some questions about Credence Coin.  

We are doing our best to protect ourselves from attack that is why we will spend 5 to 7 days with an independent team trying to infiltrate the site as a user/non user etc so if we find any leaks we can plug them up before going live.  
That does not mean someone will not try and DDoS us, even though we have Cloudfare DDoS protection it does not stop anyone from trying.  

But if we do suffer an attack all funds will be safe as the majority of funds both CRDNC and BTC are held in Cold Storage.

Yes it is 199 days, the whole Premise of Credence Coin is to provide stability and trust and rewards to holders of CRDNC.   We could have made it 120 days for the higher loans but which would you prefer?   To have your money back in a short space of time without taking into account external factors that could affect the price of the Coin and the knowledge that at that 120 day mark there is also going to be maybe 500 other people looking for capital release on that same day therefore putting pressure on the coin and it's need for dramatic price rises to ensure the stability of the platform?

Or would you prefer to wait a little longer knowing that the coin as it gains more exposure and hopefully therefore more demand that would see a steadily rising price organically and in turn that then provides us with plenty of time to constantly assess the financial status of the whole lending program and put aside your initial loan repayment shortly after you have taken out the loan and our goal is to then lock it into cold storage all loan maturity payments so that we know regardless of market fluctuations and outside influences the majority of lenders funds are safe and ready to be paid out on maturity date and held separate to other site funds.
 
We know which method we would prefer as investors and that is why we have gone with the 199 days.

Further to that, you have not taken into account that is an extra 79 days of daily interest being paid to you as opposed to 120 days worth of daily interest.  

But the choice is entirely yours and that is why we have made staking CRDNC a very viable option @ 20% per year no other lending coin offers this so people have the choice, you do not need to take out a loan to make money with Credence Coin you can simply stake it and as the platform grows organically and builds users so to will the price.  It then comes down to a demand vs supply scenario and the supply is already limited, when people take out loans that supply will decrease and as a result that should influence the price.  

Or you can choose a combination of the 3 methods, Loan, Stake and earn from Referrals and the natural growth of the coin due to it's limited supply.

Hope that explains to you and others our reasoning behind the loan periods, it has been put in place as both a protection for you and for the the protection of Credence Coin to be sustainable in the long term.  

Although the premise of a lot of what we are doing is based on the biggest lending coin of them all, we have analyzed how it operates and taken away what we see as the biggest risk factors involved with it and blended some of its functions with our own version which as mentioned previously we consider to be much more stable for the long term.

Our goal is for Credence Coin to be known as a passive income coin not at HYIP program.  High rewards come with high risks and although some of them do work, others crash very early and we do not want that to happen with Credence Coin so that is why it is what it is.  

Good question, many here were screaming for another exchange and somehow equated being on more exchanges to equal instant dramatic price increases.   That is clearly not the case as you would all have seen by now.  

We also think CRDNC has established a bit of a home on Mercatox though (be it temporary until our exchange is live) and due to many current holders already being signed up with them our guess is many are not bothering to create a 2nd account if they can already buy and sell the same coin on an exchange they have an account with.  

As we mentioned in the previous update, we will let you know how the site is progressing either on the 29th or 30th or we may push that to the 31st as if we have no further information we will not post for the sake of it, we will however let you know when the site is fully complete and when Pen-testing has commenced.  

Thanks
Credence Coin