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zippy

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  1. Cannot follow my argument... Let me put it another way with an example of a property investment: - Company 'PDS' proposes a property development to purchase land and construct a building on the land. - It holds a crowdsale to raise funds to undertake the development. - Through the crowdsale it raises $10million in order to buy the land and construct the building. - After they raise the funds they find out they cannot buy or build on the land due to local council rules. - They advise their investors that development will not proceed as promised. - They state no refunds because of inherent risk of investing and no one forced anyone to invest. They keep the funds raised despite not delivering the building. Question. If you were one of the investors in the above scenario, would you cope it on the chin or would you think it fair that company PDS return the funds raised? @phanpp i hope that makes it clearer the principles i am raising. Just apply the same principles to the BCY crowdsale.
  2. @Shaban Thank you for taking the time to contribute to this discussion. The issue at hand is not 'make me rich...' but rather 'keep your word, stick to your promise...'. Only an arrogant and self-righteous person would twist it that way. Maybe you'd like to take this opportunity you explain exactly why BCY are not the premium in-game currency you promised. Pointing the finger at the app store/Apple/Google is totally unacceptable. It was EDS's responsibility to do a full due-diligence to make sure BCY was going to be able to deliver as was promised. You can't raise funds under one promise and than later say 'oops, Apple/Google won't allow it, but thanks for your money'. The difference between BCY being the premium in-game currency for SOG and BCY being just able to be used to purchase blockchain cards is lightyears apart. Please take the time to google BCY BitCrystals and see what all the results come up as. Then visit the FAQ here regarding BCY and see what it says. I'm sure you'll see my point. Bringing these issues down to the gutter by suggesting I'm coming from a 'get rich quick scheme' point of view just shows how little respect you have for your investors. YOU sold the BCY on the basis that they would be the premium in-game currency. BCY are NOT the premium in-game currency. Please explain why then you feel entitled to keep the crowdsale funds? This is the point that will be the basis of any potential formal complaints. Under part 3 of the sale terms you have linked, it states '...BCY will be acting as both the game-fuel and the premium in-game currency in the upcoming game SoG...'. Everything hinges on this point as that is the most crucial. As for the rest of the terms, you and I both know they are written 100% to the benefit of EDS. This is precisely why regulators require such things to be registered - in order that investors are protected from one sided terms. They hold zero legal weight. Nothing I have said in these posts is either abusive or threatening. I dare say should you get on your high horse and sensor me, it will only look worse for your position. Thank you again for taking the time to receive input from your investors.
  3. Thanks for contributing to the discussion @BenRPG, your 2 cents are worth hearing. This discussion has taken a whole different direction than originally intended. I thought a direct distribution of BCY to players would kick some life into the BCY economy. Handing out just cards has almost zero effect. In relation to legal/civil damages, there the several categories, your points above are good but only consider 'restitution'. There wouldn't be $100 million judgements out there if all that was available in an action was just restitution. Civil action would take far longer than regulatory action. Fines and potential prosections would wipe out any economic value in EDS and its stakeholders long before any civil claim saw the light of day. It'd be like trying to sue Mark Karpeles. And it is only this reason that investor action hasn't been instigated yet. We'd rather recoup our investment than see EDS fall. But if recouping our investment becomes a non possibility, than action to see EDS be accountable will surely happen. They are as of today managing an unregistered security, whether they believe they are or not.
  4. Yes all countries and market players are wary of SEC, they have a very far reach into all corners. And besides every country has its own securities regulations. The preference was that EDS deal with and meet investor expectation by building the BCY economy. We feel that hasn't happened. There are wider implications here as well for those companies that partnered with EDS to release cards. Anyone that benefited from receiving BCY will be under the microscope. The tide will turn from investors being at home worried about their BCY investment and the direction EDS has taken, to EDS owners, partners and employees being at home worried about what 'orbs' and from how many directions are incoming their way. I could contact several crypto news providers with the story today and a negative storm would quickly brew, but for now i wait and watch. I'm not looking to shutdown EDS, but i feel i have lost out in my BCY investment while they have significantly benefited. It cost them nothing to create BCY afterall.
  5. Report just out from SEC: https://www.sec.gov/news/press-release/2017-131 "The Securities and Exchange Commission issued an investigative report today cautioning market participants that offers and sales of digital assets by "virtual" organizations are subject to the requirements of the federal securities laws. Such offers and sales, conducted by organizations using distributed ledger or blockchain technology, have been referred to, among other things, as "Initial Coin Offerings" or "Token Sales." The Report confirms that issuers of distributed ledger or blockchain technology-based securities must register offers and sales of such securities unless a valid exemption applies. The purpose of the registration provisions of the federal securities laws is to ensure that investors are sold investments that include all the proper disclosures and are subject to regulatory scrutiny for investors' protection..." = tik tok, clock is ticking.
  6. @BenRPG Wow. I just showed your post to my wife and she said if we knew who you were she'd offer you a hug. Thank you for making the above post - you've captured concerns accurately and delicately much better than i have. Since investing in BCY, we've had a baby and now i have a cranky wife not able to understand why EDS get to keep our investment funds but feel not obliged to deliver on their promises. So my posts im sure have quite a bit of emotion tied in. I hope EDS give you the courtesy of directly addressing what you have raised and not 'dance' around the issues by discussing game development. I'm very excited about the games on-going progress and development, but my concerns are in relation to the lackluster BCY economy and feeding my baby.
  7. Thanks for your response @BenRPG - i appreciate your comments. I did invest. I invested on the understanding that BCY would be the in-game currency. I didn't donate to EDS. I didn't invest just so EDS could 2 years down the track decide that the regulatory hurdles were too onerous and take the in-game currency function of BCY off the table while still keeping the crowdsale funds - i have good advice in this regard that there are actions now open to investors against EDS. Also, during the crowdsale EDS didn't care where the investment funds were coming from. These days companies are careful to exclude US residents from ICO's for example as to not invoke SEC regulations and oversight. Here is a good recent article detailing this point: http://www.cnbc.com/2017/07/18/hot-digital-currency-trend-minting-millions-off-limits-to-us-investors.html EDS blazed a trail and tried something new, but it can very easily backfire for them - people are watching at every step. What has happened, in a simple analogy, is EDS offerred the sale of a SOG blockchain card. You buy that card understanding it could be used in-game. But then EDS change their mind and decide not to use that card in-game. You still have the card, but it is now useless as it can't be used. Would you be pissed? Should EDS keep the money you paid for the card? Now scale that up to BCY, EDS took in millions $, kept the money but decided not to allow the function of BCY. It's all a slippery slope now. Anyway i was just thinking of ways to improve the economy of BCY and SOG and get a return on my investment. If EDS don't do something soon they'll face a backlash of negative publicity and formal complaints to authorities. It's more than just building a great game, it's meeting their responsibility to investors as well - and that means the BCY economy.
  8. Hmm ok, not exactly the friendliest reply to someone making a suggestion wanting to improve the supporting economy to the game. I'll consider submitting some constructive well thought through marketing ideas via the post you've linked. Thank you for that. Players, and EDS, should keep in mind that people have invested in BCY and blockchain cards, and these people are watching and keeping files as to how this is all unfolding. Remembering that SOG was financed through the crowdsale of BCY with the promise that: " BitCrystals (BCY) are tradable Counterparty assets which act as the game-fuel and premium currency in EverdreamSoft’s free-to-play mobile game Spells of Genesis (SoG)". Since this has not happened due to legal/regulatory reasons as stated by EDS, EDS has gained financially but not delivered. BCY for all intents and purposes, are currently worthless given they are not the SOG game-fuel and the premium in-game currency. There is a school of thought that EDS have opened themselves up to civil and criminal claims since they did not buy back the worthless BCY once they decided they would not use BCY in-game. I'm sure EDS have a different opinion. But in case the day comes where there is a knock on the door from authorities, EDS are welcome to submit constructive well thought through answers as to why they were entitled to keep the crowd sale funding when they deviated substantially from the purpose of raising the funds which resulted in financial loss to people - who may make formal complaints in the near future. This could get messy.
  9. Hi EDS, Great game. Just a suggestion, but how about you distribute some BCY to the top 500 on the leaderboard (enough to enable the purchase of a blockchain card) to get this game and economy going. Give it a stronger heartbeat. I'm sure it's doing ok already, but my opinion is it could be doing MUCH better if everything was functioning better. Do you not have BCY set aside for promotion/marketing? I think distributing some BCY to your loyal players would have the following benefits overall: 1. Allow players to purchase a blockchain card thus getting that market more revved up. This would benefit merchants and players that have previously invested in blockchain cards. Maybe once a player gets 1 card, they will like it so much that they'll go back and purchase more for themselves. 2. BCY volume would increase and get the attention of market traders. Decrease the chance of removal from exchanges. 3. Improve useage/play time from a greater number of players as more players would want to be in the top 500. Players may spend money on Gems in order to crack the top 500. And many more benefits I'm sure. Don't wait for a heart attack to hit and the game to die down - give it a Kickstart now. Thank you.
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