NVO Decentralized Exchange - Crowdsale

[Sascha]

@Sascha

I feel like a bit of a fool for investing, but I’m typing this with a big smile on my face. I guess it was worth it for the entertainment and the lesson learned.

@tonbi

Hey I am offering buy back, so you don’t have to feel like a fool anymore

What you don’t understand is, I don’t feel like a fool for losing a bit of money. As long as there is fish in the sea and my chickens are ok, I’m good. I feel like a fool for the act of investing. I rushed. I didn’t study enough.

[danski]

I will gladly take Maid or BTC (or anything with value) for NVST. Please let us know how you propose it will work. Using the counterparty dex is a pain in the ass.

[Dimitar]

I also want to get my money back for nvo. Say exactly how to do it

[metoo]

I would try to get into contact with the escrow holders rather than try to engage someone who is clearly dishonest, immature and incapable of rational discourse.

[Lackys]

Please give me refund too, how to do it exactly?

[Josh]

@tonbi

The thing is what’s nemgun said is similiar to what many developers say when looking at Maidsafe. They seemed to be doing things on the fly with no ability to explain exactly how anything worked and how it all build up together for the full network to be launched. Just bits and pieces here and there. I doubt if there is a single person that knows how everything works for the full network to be launched.

Did you all seriously only figure out that YOU have no understanding of the network until after your ICO.
WORK THAT SHOULD HAVE BEEN DONE WAY IN ADVANCE.
So you raise money to build on a network that you and your developers did not understand and clearly still dont.
If that’s not a scam it’s the epitome of incompetence.

[tonbi]

I have contacted those people that requested to buy BTC off me using NVST @lackys @Dimitar . For the rest just use the counterparty DEX to sell your NVST. I will mute this topic so I can get back to work.

[Josh]

@Melvin

We do not want to delete any posts

Please don’t delete anything.

[Sascha]

@tonbi

in NVO he is a god.

Did someone say “cult”?

[switch01]

Hi David,
i managed to get paid in bitcoin from NVO in exchange for all my NVST tokens, at crowd sale issue price. I think i am very fortunate and feel much happier, but do feel for the rest of those who are stuck with these potentially worthless coins. Just thought i would let you know.

[Al_Kafir]

Lol, I was literally about to say a similar thing. We are hypocritically accused of being a cult, by a small bunch of folks who all worship some obscure God - or a cult in other words…
This Muppetology is right up there with Scientology etc for whackiness to me.

[Jabba]

@tonbi

So we can do 100k transactions per second and can launch in 4 months, but you are crying about the SEC

I’m laughing about the SEC because at the start of this crowdsale I brought it up and you were utterly clueless about it. You responded by creating your <$1 coin reward system and saying you weren’t aware of security compliance issues before then. Now suddenly you’re right in the know with your pals at the SEC from having talked to them on the phone prior to there being any complaints against you… If you can’t see how funny that is then god help you

@Jabba

I see the NVO token holders would receive 50% of the exchange fees as dividend payments. Have you got any concerns about that putting your currency in danger of being classed as a security and therefore being subject to tighter regulation? I know the crypto world is a bit of a wild west atm and it’s not an uncommon model to pay dividends, but that will probably change over the next few years. What jurisdictions do you reside in and what’s your approach to the regulation and compliance side of things?

@tonbi

yup big red flag. We were looking at counterparty(they can distribute dividends) and didn’t notice the legal consequence of using that term. That will change so we don’t face any problem.

This comment is revealing. Whilst terminology is important it does not make you legally compliant to change the term you use to characterise your crowdsale. What matters is the nuts and bolts. If it looks, smells and tastes like s security then guess what, that’s what they will define it as if they receive complaints about it.

Apart from that it would be dishonest to keep funds and not refund people now that you have changed direction. What possible justification could you have for refusing refunds? The money was invested in good faith, if you don’t refund every request you will deserve to have regulators come down on you like a ton of bricks imo. You should raise money honestly on the basis of what you are actually going to do. To say one thing and do another is dishonest, so your project should return money to the people you have deceived, that seems pretty simple and obvious. To refuse anyone would be outrageous.

[Al_Kafir]

@Jabba

then god help you

He is…
(20 chars)

[BIGbtc]

@dirvine If this doesn’t get resolved to the satisfaction of you, Nick and MaidSafe, in that MaidSafes reputation was central to the successful NVO ICO, it would be incumbent on you to release a statement distancing MaidSafe from NVO. It would be crucial to note how a simple comment from David Irvine was, without consent or knowledge, crafted into a full blown endorsement of NVO by MaidSafe. Details would not be necessary because you will release this statement to Coindesk and Bitcoin.com and all the journos will pick it up and do the deep dig. (Coindesk is likely going to pick it up)

David, I’m surprised you have engaged these guys in the way you have. This is not your style and that suit doesn’t look good on you IMO.

There are only 2 resolutions to this situation that would be favorable and one is unlikely.

1. NVO could develop the exchange they envisioned (unlikely) or 2. they could structure a funding campaign to assist in the development of the safenet with a long term view to funding development of their own exchange after safenet is launched. This would allow NVO the time to acquaint themselves with safenet and still honor the commitment to investors. The structure of this does not need to be complicated or cause any sort of dilution. NVO pivots to a strategy that insures long-term viability and benefits MaidSafe.

[dirvine]

@BIGbtc

David, I’m surprised you have engaged these guys in the way you have. This is not your style and that suit doesn’t look good on you IMO.

Yes, I agree 100%., it did not feel right either, swimming in a mud pool, I don’t generally do that

[Al_Kafir]

Personally, I think we’ve gone past that opportunity. Given the cavalier attitude to regulation/legal issues displayed by NVO to date, it would seem extremely daft to let the fox in the henhouse at this stage. This is particularly given the clear statements of various intents - such as “taking over” from Maidsafe and even naming “their” Network SafeNet etc.
If there is a cavalier attitude to the law (and pretty much everything else), then it is likely there will also be no respect of patents. I have voiced the potential hazard I see here previously, so won’t repeat here.

[BIGbtc]

@Al_Kafir

Personally, I think we’ve gone past that opportunity.

Money does not discriminate.

The opportunity exists for as long as the millions of dollars exist. 30% of that $7 million can buy a few Lamborghinis or can be used to extract the other 70%. And parlay that $7 million a into $170 million.

Which door will they pick? Let’s hope Alex can help them decide

[Nigel]

@tonbi

This isn’t an attack on Maidsafe. If we wanted to attack maidsafe we wouldn’t try to name the new network nemgun created safenet and let Maidsafe fork the technology if they wanted… Anyhow I am looking to wrap this up so we can get back to work. For me it’s a simple which direction is the fastest to deliver NVO and this drama is not part of it. I fully support Nemgun. He is a god in NVO

This proves you guys don’t know anything about safe, decentralization, respect, reality, barely anything at all. I wish I could sue your asses for clearly going against your word. You said you wanted to launch on the safe network not make some dumb amalgamation of ethereum and other tech then call it safe network. Do you think the maidsafe team couldn’t do the same thing?? Or that we can’t consider a possibility like that on our own? That is what makes you incompetent and insulting! You have used the safe networks good name to do a money grab. Whether or not nvo launches, if you don’t launch it on the safe network it is not the level of security your investors agreed to so think about that. Glad I only donated pocket change because I knew you were a risk, but I tried to vocally support you and both were a huge mistake at this point. @nemgun is an embarrassment and should never talk to anyone the way he talked to the founder of the technology that your crowdsale road on the back of no less. Now @tonbi you are sounding the same. Quit doubling down, swallow your pride, fire that clown and do what you said at the crowdsale.

[nikou]

Investors invested in a dex exchange from the NVO team not to fund safenet.
It was said from the beginning that if safenet can’t deliver in time then they will switch to another dex technology.
What is wrong with you and wanting nvo money to fund safenet when it’s been 10 years and still nothing is out.

Now we will just have to wait and see who delivers. Most of the money is still in escrow and will be released with achievements from the team. If people want to sell their tokens they can.

[Audity]

This all could be the best evidence for spanking your children LOL.