tombraider9
Junior Member
- Aug 3, 2018
- 190
- 45
It's not me lol. Read well. ROFL.
Yeah and still looking. Do you have any problem.
Need advice, I scammed people
- Thread starter nonotoday
- Start date
- Oct 2, 2009
- 1,372
- 2,824
It's like that everywhere, fair or not. Do your time. Statistically, newbies cause the most trouble and are most often the accounts that get banned for scamming or breaking rules.
tombraider9
Junior Member
- Aug 3, 2018
- 190
- 45
From where you came on this earth? Read well.
Kuem
Power Member
- Dec 29, 2017
- 676
- 220
ok sorry that was my fault I guess we all have no pfp so we all look alikeIt's not me lol. Read well. ROFL.
Yeah and still looking. Do you have any problem.
I don't agree with how the OP went about this, but some of you are a bit crazy. Paying back investors in full over a failed project?? I'm in the wrong business! As an investor I should take no risk at all and only be able to gain! Biggest bullshit I have ever heard. The investors were dumber than he is for investing without doing their "due diligence". You can't expect to never lose money investing. Dude isn't a scammer he just wasn't well prepared.
My advice would be to pay back whatever you can from any assets you can. Say sorry it didn't work out, but I don't want to ask for more money to waste. Not exactly that but you get the idea.
My advice would be to pay back whatever you can from any assets you can. Say sorry it didn't work out, but I don't want to ask for more money to waste. Not exactly that but you get the idea.
Kyle Martinez
Power Member
- Apr 11, 2017
- 673
- 162
what i want to know is where in the FREAK did you find strangers online ... not even face to face to transfer you thousands of dollars? WTF????
tombraider9
Junior Member
- Aug 3, 2018
- 190
- 45
What about VIPs with banned tag? No matter whether your are junior or senior, I really respect everyone (except those always teasing). The most important Reason according to me is the journey part(my favorite one)where we learn more about how to rise after failing many times and it always inspires me. That's why I love this forum and all members. But to be honest, I hate those always teasing newbie to have a tag newbie.
BrandingCat
Elite Member
- Jan 6, 2015
- 8,119
- 10,311
They invest, you fail.
That's called a failed business.
Go speak with a solicitor who is good on this field, your real answer it's definitely not here so you can sleep at night after you speak with someone who know the shit.
That's called a failed business.
Go speak with a solicitor who is good on this field, your real answer it's definitely not here so you can sleep at night after you speak with someone who know the shit.
Extruser
Regular Member
- Dec 2, 2017
- 289
- 185
I think you are looking at this the wrong way.
You didn't fail. Hell no, you raised 40k! So that's a good start.
You underestimated the costs (time and money) of building a global crypto lending platform? Yes.
40k is nothing. What can you do with that.
You need at least 500k to create a solid platform. So aim for 2M.
You burned money creating hype? Yes.
Well, your brand is out there.
Don't stop now. Grow some balls.
Raise more money, build your team, show investors where you're going and why they need to participate! Fight!
Fight damnit! Or do you prefer to work a day time job.
You think you can only ask money once? And when it's gone, that's it?
Look at Tesla, Uber, to name two. They burn money like crazy and don't make any profit (yet).
Still they keep asking more money to investors all the time. See?
Think BIG!
Pro tip: Don't tell people they are investing in a business.
They will receive utility tokens to use on the platform.
Of course, tokens will be convertible to other crypto...
There's a big legal difference there.
Or you could go for option 2: give up and be a little scammer.
You didn't fail. Hell no, you raised 40k! So that's a good start.
You underestimated the costs (time and money) of building a global crypto lending platform? Yes.
40k is nothing. What can you do with that.
You need at least 500k to create a solid platform. So aim for 2M.
You burned money creating hype? Yes.
Well, your brand is out there.
Don't stop now. Grow some balls.
Raise more money, build your team, show investors where you're going and why they need to participate! Fight!
Fight damnit! Or do you prefer to work a day time job.
You think you can only ask money once? And when it's gone, that's it?
Look at Tesla, Uber, to name two. They burn money like crazy and don't make any profit (yet).
Still they keep asking more money to investors all the time. See?
Think BIG!
Pro tip: Don't tell people they are investing in a business.
They will receive utility tokens to use on the platform.
Of course, tokens will be convertible to other crypto...
There's a big legal difference there.
Or you could go for option 2: give up and be a little scammer.
- Mar 10, 2010
- 42,695
- 107,110
I'll take option door # 2 Alex.
I don't really see how you scammed here. You were an idiot, yes, but if you didn't do it out of ill intention I don't see how you could be labelled a scammer. I would hope your investors were smart enough to realize an ICO is super risky and they had a high chance of losing the money they invested. If you misled them then that's a much different story.
Businesses fail all the time. Investors invest in things that don't work out. When a business declares bankruptcy, the investors have a claim on the assets to help recover their investment, but if there aren't enough assets then they lose money. That's part of the risk of investing. If you could always get your money back if something didn't work out, then everybody would be throwing around money on every high risk project lol. Consult a bankruptcy lawyer, declare bankruptcy, sell off the assets if there are any to pay off the investors, and learn to be more responsible in the future. Hopefully you filed your business correctly when you started off so that you're not personally liable.
Businesses fail all the time. Investors invest in things that don't work out. When a business declares bankruptcy, the investors have a claim on the assets to help recover their investment, but if there aren't enough assets then they lose money. That's part of the risk of investing. If you could always get your money back if something didn't work out, then everybody would be throwing around money on every high risk project lol. Consult a bankruptcy lawyer, declare bankruptcy, sell off the assets if there are any to pay off the investors, and learn to be more responsible in the future. Hopefully you filed your business correctly when you started off so that you're not personally liable.
ReliableSEOGuy
Power Member
- Feb 23, 2015
- 632
- 334
What has your question to do with this thread or his answer?
seoprodaddy
Newbie
- Feb 17, 2018
- 37
- 16
wtf dude you are fucked
Kyle Martinez
Power Member
- Apr 11, 2017
- 673
- 162
bruh just help a playa out. stop being lame
theeyeinside
BANNED
- Aug 19, 2014
- 963
- 868
Everything is by INTENT.
If you intended from the beginning to defraud, then you are a scammer.
If you intended to make money and lacked experience to do it, then you are not a scammer, just a clueless business person.
You must have had something to offer in your white paper or else no one would have invested with you. Can't you reinvent yourself and continue?
Are the coins traded?
If the investors still have the coins they have not been defrauded
If the coins vanish, then the investors have had their investment taken from them and are defrauded.
It is an implied contract.
Don't break the contract.
As long as the system exists, you are still trying to make it right. It is a contract gone bad, not fraud.
Remember that fraud has no statute of limitations.
If you intended from the beginning to defraud, then you are a scammer.
If you intended to make money and lacked experience to do it, then you are not a scammer, just a clueless business person.
You must have had something to offer in your white paper or else no one would have invested with you. Can't you reinvent yourself and continue?
Are the coins traded?
If the investors still have the coins they have not been defrauded
If the coins vanish, then the investors have had their investment taken from them and are defrauded.
It is an implied contract.
Don't break the contract.
As long as the system exists, you are still trying to make it right. It is a contract gone bad, not fraud.
Remember that fraud has no statute of limitations.
DeanFieldz
Regular Member
- Jul 24, 2014
- 286
- 115
they chose to invest. I invested money in bitconnct not much because I was skeptical (thankfully) but I know it was completely my decision and I just had to take the loss. Yes it sucks and if you set out to scam people or not giv the project your 100% then screw you. Otherwise either fix issue and rebrand or move on. Seek professional advice as well.
- Nov 16, 2011
- 19,805
- 11,281
Looks like you are getting opinions that you did not expect.
Here are some positives:
1) You have realized that this does not has potential and have decided to stop this. Will prevent further damage and loss to more people.
2) People reading this will be more careful while investing in projects from others.
3) If all this really happen, it does take courage to admit this in open. You are also better than people that are scamming people knowingly and will continue to do so. Good luck for your next venture.
patriotnews
Elite Member
- Oct 25, 2015
- 1,562
- 1,382
So you're so lazy you can't open a simple account, like that was literally more work than you could muster, where as member'suere have shared great information, helped others out, contributed financially to the success of the forum, and you're over there like, "well after 8yrs I made an account, I deserve respect"... Contribute, in some way, earn your respect. Whining gets you nothing.
"Heavy metal rap niche"... Yeah.. no one really makes money with that... Like that isn't really a thing is it?
br4sco
Regular Member
- Sep 29, 2017
- 448
- 251
Fun fact, got an infraction in my first week. I did not read the rules properly and asked a fellow boardmember in DM to buy a licence off him.
I learned from my mistake and abide by the rules since.
On topic, in my opinion alot of thd ICOs are complete sham. I do not trust people blindly just because of a white paper. I can put anything on paper. Doesnt make it true. Guess its why im a filthy no coiner.
At least have the decency to inform the investors about the failure. Let them have closure. However, seems to me you thought about this to begin with otherwise you would not have set it up anonymously...