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Showing 4 of 4 results by deepwaters17
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Board Announcements (Altcoins)
Re: [ANN] Bela — Powering the Belacam Social Media Economy
by
deepwaters17
on 26/09/2018, 08:53:13 UTC
Disappointed that I held BelaCoin for over a year and a half and just found out I lose all of my 5900 belacoin because I did not catch the swap.  What are my options?  Thanks!

maybe not just me but also others. if you don't swap, what happens to belacoin coins? I still have belacoin tokens, I hope there is a swap loop.

Hello there,

Bela (The Ambia Fund) screwed the swap. There perhaps were over 1 million belacoins aka Legacy Bela which were not swapped in the way-too-short timeline they gave. Many BELA supporters lost money, because they never got information to be prepared of swapping in given time. Swapping is not anymore possible. It went so wrong, that it feels like a written plot. It just sounds like they planned this to happen. They must have known that not every Belacoin holder gets the information in time.

The founders and operators of BELA are young and inexperienced fellows who didn't consult experts or authorities how to proceed with this swap. They also didn't find out what are their legal responsibilities in the action. Or they knew and took a risk.
It's important to understand that management who doesn't take care of community members can't be trusted to take care of the core product either. There will be more mistakes and no-one can guarantee that there wouldn't be a new swap, and more members money to be lost. Even if the core idea is good, it's wisest to be extra careful with BELA. It already has lost member's money and haven't given any helping hand to those who need it.

Now, the best way to proceed with this topic is to group together and find legal help to start a full scale investigation of BELAs business operations, swap policy and fund handling.

Whoever lost the value of their coins, you are not alone. First we have to find out how many there are and how many coins were not swapped. Then we proceed with facts. Let's keep every new member educated about how things went. We won't forget.


How much time do you need to swap your coins and how would you prefer to be informed about swap?



...Changes like this must be done in the way that you can always swap your old coins to the new ones. Always means at least 1 year, preferably 5 years. And all forms of communication has to be used to inform about the swap - this means that when you start a co-operation with exchanges, then the agreements includes the responsibility of exchanges to inform the coin owners about swapping and other changes.

Now, BELA had no influence at all. Nothing. Pathetic, really - should take better care of the people who has believed in you.
At least 1 year? One big miner will mine the majority of bela and swap.

I see your point and you have a valid one. But if we concentrate for a moment to people whose coins are in exchanges, then there should be fallback plan for those investments. No miner can deposit their coins anymore to exchanges when it's together with trade is frozen. Those coins which are still in the exchange should be approved to be swapped much longer than 2 months, don't you agree? I don't see risk in a policy like this.
Post
Topic
Board Announcements (Altcoins)
Re: [ANN] Bela — Powering the Belacam Social Media Economy
by
deepwaters17
on 25/09/2018, 09:53:38 UTC
Disappointed that I held BelaCoin for over a year and a half and just found out I lose all of my 5900 belacoin because I did not catch the swap.  What are my options?  Thanks!

maybe not just me but also others. if you don't swap, what happens to belacoin coins? I still have belacoin tokens, I hope there is a swap loop.

Hello there,

Bela (The Ambia Fund) screwed the swap. There perhaps were over 1 million belacoins aka Legacy Bela which were not swapped in the way-too-short timeline they gave. Many BELA supporters lost money, because they never got information to be prepared of swapping in given time. Swapping is not anymore possible. It went so wrong, that it feels like a written plot. It just sounds like they planned this to happen. They must have known that not every Belacoin holder gets the information in time.

The founders and operators of BELA are young and inexperienced fellows who didn't consult experts or authorities how to proceed with this swap. They also didn't find out what are their legal responsibilities in the action. Or they knew and took a risk.
It's important to understand that management who doesn't take care of community members can't be trusted to take care of the core product either. There will be more mistakes and no-one can guarantee that there wouldn't be a new swap, and more members money to be lost. Even if the core idea is good, it's wisest to be extra careful with BELA. It already has lost member's money and haven't given any helping hand to those who need it.

Now, the best way to proceed with this topic is to group together and find legal help to start a full scale investigation of BELAs business operations, swap policy and fund handling.

Whoever lost the value of their coins, you are not alone. First we have to find out how many there are and how many coins were not swapped. Then we proceed with facts. Let's keep every new member educated about how things went. We won't forget.


How much time do you need to swap your coins and how would you prefer to be informed about swap?

Not too much time is needed for the swap itself. It's pretty straightforward process to go through. The problem lies in the very term of Cryptocurrency. If we think token as a form of currency or an asset anyway, then it just can't lose it's total value in 2 months time. Unless it happens to do so based on the normal market rules of demand / supply.

There will be always users who has bought said coin from exchanges like Poloniex and then didn't get any kind of information that they have to do changes (swapping) to maintain the value of their investment. This kind of "change your tokens in 2 months time or lose your investment" policy won't stand any kind of financial regulation for a good reason. If it's not already against a law, then it will be in near future. Think about if this would happen any top 5 cryptocurrencies.. You get the picture.

Changes like this must be done in the way that you can always swap your old coins to the new ones. Always means at least 1 year, preferably 5 years. And all forms of communication has to be used to inform about the swap - this means that when you start a co-operation with exchanges, then the agreements includes the responsibility of exchanges to inform the coin owners about swapping and other changes.

Now, BELA had no influence at all. Nothing. Pathetic, really - should take better care of the people who has believed in you.
Post
Topic
Board Announcements (Altcoins)
Re: [ANN] Bela — Powering the Belacam Social Media Economy
by
deepwaters17
on 20/09/2018, 10:42:06 UTC
Disappointed that I held BelaCoin for over a year and a half and just found out I lose all of my 5900 belacoin because I did not catch the swap.  What are my options?  Thanks!

maybe not just me but also others. if you don't swap, what happens to belacoin coins? I still have belacoin tokens, I hope there is a swap loop.

Hello there,

Bela (The Ambia Fund) screwed the swap. There perhaps were over 1 million belacoins aka Legacy Bela which were not swapped in the way-too-short timeline they gave. Many BELA supporters lost money, because they never got information to be prepared of swapping in given time. Swapping is not anymore possible. It went so wrong, that it feels like a written plot. It just sounds like they planned this to happen. They must have known that not every Belacoin holder gets the information in time.

The founders and operators of BELA are young and inexperienced fellows who didn't consult experts or authorities how to proceed with this swap. They also didn't find out what are their legal responsibilities in the action. Or they knew and took a risk.
It's important to understand that management who doesn't take care of community members can't be trusted to take care of the core product either. There will be more mistakes and no-one can guarantee that there wouldn't be a new swap, and more members money to be lost. Even if the core idea is good, it's wisest to be extra careful with BELA. It already has lost member's money and haven't given any helping hand to those who need it.

Now, the best way to proceed with this topic is to group together and find legal help to start a full scale investigation of BELAs business operations, swap policy and fund handling.

Whoever lost the value of their coins, you are not alone. First we have to find out how many there are and how many coins were not swapped. Then we proceed with facts. Let's keep every new member educated about how things went. We won't forget.

Post
Topic
Board Announcements (Altcoins)
Re: Belacoin - Supercharging entrepreneurship with the power of the blockchain
by
deepwaters17
on 20/09/2018, 10:01:34 UTC
The Bela Coin Developers have made a few errors with the swap from sovereign coin to an ERC20 based coin, and they are not willing to correct their mistakes, so I am here asking for the community for help.

I, and plenty of others, all got screwed out of our Bela Coin when the Bela Coin Swapped.

I have lost all my coin to the swap, because the management thinks a few months of notifications and 60 days was a good amount of time to allow everyone to be notified and to the swap from the old coin to the new coin.

They closed the swap down on May 30 2018

The multi-coin-pool I was on told us about the swap on June 10, 2018, 10 days after it swapped.

My wallet company never notified us either, and they have lots of coins in their wallet.

Bela Developers say they sent out emails to all bela pools and wallet groups, and I understand they did that, but the mining pool and wallet company coinomi didn't seem to know about it.

I contacted the Bela Management and they denied my swap request.

I have been told by Bela Management that it would not be fair to allow me to swap my coins after the 60-day period, and I argue that it is not fair to allow me NOT to swap my old bela coin for the new ERC20 Bela coin since I and others spent time and money on hardware and electricity to mine the coin.

I see they burned 1,500,000 BELA coin that they had left over after the swap.

They should have kept the Bela Swap site open for 90-days, and closed the old Bela mine to all connections except the swap-bela site after 60-days, which would let people who find out about the switch to ERC20 still swap the coin they have.

I am asking the community to help me get my Bela Swapped to ERC20 so I do not lose my 25,000+ coins.

I also know there are others who also had the coin and did not swap it either, so it's not just me.

If we, as the community, tell the Bela Coin Developers that they should re-open the bela swap site while making sure the old bela site isn't allowing stratum connections, and or that a few months and 60-days is not long enough for people who mined Bela between 2014 and 2018 to find out about the swap and swap their old Bela, they will listen to the community and do it.

I propose that the Bela Coin Management do the following;
1) stop all connections to the old Bela Mine so no one can mine it any longer. This should have been done 1 month prior to the end of the swap at the very minimum, and if it had been done, every stratum would have failed and thus all mining pools and all miners would no longer be able to connect (only the swap Bela connection would exist) and would know there was a coin swap when they looked at the Bela Site or contacted the Bela developers.
2) Start the Bela Swap site so that people who find Bela coin in their wallets in the next year or so can swap the coin.

Thank You for Reading, and hopefully, joining this effort to get Bela Coin Management to do the right thing by me and the others who have Bela coins that haven't swapped to the new Bela ERC20 coin yet.

Thank you
Joseph Valenti

You're right, there are others. How to contact you?