Re: [ANN] ION [ION] | POS 3.0 | Mobile Gaming | Join the ionomy today!

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altheshort

Hey ION and XPY friends! When we warned you about the GAW scam, the Paycoin lies and the non-existing Hashlets, you called us “trolls” and “fudsters”. Now your former leader Homero Josh Garza a.k.a. GAWCEO just pleaded guilty.
https://www.linkedin.com/pulse/crypto-criminal-josh-garza-pleads-guilty-jane-kreisman
The thief of $20M through GAW Miners, Hashlets and Paycoin, has finally admitted his guilt and accepted a plea deal with the US Department of Justice, the FBI and the SEC. What do you think about that?
Here is a little reminder that your new leader, ION creator Adam Huey Matlack, was Josh Garza’s best buddy in church and still defended the fraud even when everyone knew what was going on:
http://archive.is/pEsCb

For those out there without a linkd acc. Here is a good summary of the Garza situation.
https://motherboard.vice.com/en_us/article/josh-garza-bitcoin-ponzi-scheme-10-million-sec

Franz, you brought up an interesting observation about Matlack and Garza. I feel I should should share my own.
What do you think about Matlack being labeled the CHIEF STRATEGIST for Ionomy? Yet you won’t find him listed on the Ionomy LLC’s.

I completely see what Franz says about Matlack defending GAW, but I’m still inclined to think that at the point the archived post was written, he still believed that Josh was largely innocent. I’ve said before that I don’t think Matlack was an active part of the GAW fraud (by this I mean I don’t think he was in cahoots with Garza et al) — I think he was just another naive investor sucked in by Garza’s lies.

I also don’t believe he and Garza knew each other from church; I’ve asked many times when people have posted implying that Garza and Matlack have links that go back to their childhood and I’ve yet to see any convincing evidence that this was the case, or indeed any evidence at all. I suspect that angle was something that’s been perpetuated by people (most likely accidentally) on here and other forums simply guessing and has become a kind of folklore, much like the oft repeated idea that Stuart Fraser was Garza’s father in law.

The fact that they’ve set up the two UK limited companies (not LLCs; there is a distinction there) is interesting, but I’d assume they did it because it offers less liability should things go tits up (I’m certainly not an expert here so if anyone else wants to chip in I’d be interested to hear any other perspective) and may have been favourable in some way for app store registration. Also remember that Matlack is the owner of 3RE, LLC, which appears to be the parent company that is running the ionomy project. I may be wrong here (and you’re welcome to correct me if I am — please!), but I would have imagined that limiting ones liability in a way similar to this is probably fairly common.

Interesting discussion anyway, thanks.

suchmoon

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I completely see what Franz says about Matlack defending GAW, but I’m still inclined to think that at the point the archived post was written, he still believed that Josh was largely innocent. I’ve said before that I don’t think Matlack was an active part of the GAW fraud (by this I mean I don’t think he was in cahoots with Garza et al) — I think he was just another naive investor sucked in by Garza’s lies.

I also don’t believe he and Garza knew each other from church; I’ve asked many times when people have posted implying that Garza and Matlack have links that go back to their childhood and I’ve yet to see any convincing evidence that this was the case, or indeed any evidence at all. I suspect that angle was something that’s been perpetuated by people (most likely accidentally) on here and other forums simply guessing and has become a kind of folklore, much like the oft repeated idea that Stuart Fraser was Garza’s father in law.

The fact that they’ve set up the two UK limited companies (not LLCs; there is a distinction there) is interesting, but I’d assume they did it because it offers less liability should things go tits up (I’m certainly not an expert here so if anyone else wants to chip in I’d be interested to hear any other perspective) and may have been favourable in some way for app store registration. Also remember that Matlack is the owner of 3RE, LLC, which appears to be the parent company that is running the ionomy project. I may be wrong here (and you’re welcome to correct me if I am — please!), but I would have imagined that limiting ones liability in a way similar to this is probably fairly common.

Interesting discussion anyway, thanks.

There is also the IBC in Seychelles.

There is nothing wrong with LLCs or Ltds, anybody doing any kind of non-negligible business should care about separating their business liability from their personal one, and it’s cheap an easy to do in most jurisdictions. Obviously there is more to it than that, you actually have to keep assets separate etc but that’s another story.

However this shitshow of multiple companies claiming ownership of their products and pretending to do business offshore – while that’s clearly not the case – doesn’t seem to be based on good business practices. Amateurish and could possibly land them in hot water should they ever grow beyond their base of ~50 bagholders. I doubt they’ve talked to a lawyer about this as I can’t imagine that someone with any clue on the subject could have advised them that it’s ok to pretend being registered in Seychelles while running a financial business via UK/US companies.

I’d guess that the UK Ltd had an Apple developer account so they saved $100 by using that and not signing up under their real business name, whatever that is. Initially Google Play had a different business name then it was was changed to match. Still different from the one on ionomy.com. Still no text of the TOS you’re agreeing to inside the app.

The civil suit has now become a whole lot stronger. Adam could be in for some compensation now just like the multitude of customers that Garza screwed over. Unfortunately that could include characters like you and suchmoon

Still peddling your absurd conjecture that I lost money on hashlets?

Honey, I had serious doubts about Garza’s “cloud mining” bullshit before he even concocted the hashlet scheme. Why would I “invest” in something like that?

August 2014, look it up, it’s right here on Bitcointalk. No photoshop skills required.

korvas128

I completely see what Franz says about Matlack defending GAW, but I’m still inclined to think that at the point the archived post was written, he still believed that Josh was largely innocent. I’ve said before that I don’t think Matlack was an active part of the GAW fraud (by this I mean I don’t think he was in cahoots with Garza et al) — I think he was just another naive investor sucked in by Garza’s lies.

I also don’t believe he and Garza knew each other from church; I’ve asked many times when people have posted implying that Garza and Matlack have links that go back to their childhood and I’ve yet to see any convincing evidence that this was the case, or indeed any evidence at all. I suspect that angle was something that’s been perpetuated by people (most likely accidentally) on here and other forums simply guessing and has become a kind of folklore, much like the oft repeated idea that Stuart Fraser was Garza’s father in law.

The fact that they’ve set up the two UK limited companies (not LLCs; there is a distinction there) is interesting, but I’d assume they did it because it offers less liability should things go tits up (I’m certainly not an expert here so if anyone else wants to chip in I’d be interested to hear any other perspective) and may have been favourable in some way for app store registration. Also remember that Matlack is the owner of 3RE, LLC, which appears to be the parent company that is running the ionomy project. I may be wrong here (and you’re welcome to correct me if I am — please!), but I would have imagined that limiting ones liability in a way similar to this is probably fairly common.

Interesting discussion anyway, thanks.

There is also the IBC in Seychelles.

There is nothing wrong with LLCs or Ltds, anybody doing any kind of non-negligible business should care about separating their business liability from their personal one, and it’s cheap an easy to do in most jurisdictions. Obviously there is more to it than that, you actually have to keep assets separate etc but that’s another story.

However this shitshow of multiple companies claiming ownership of their products and pretending to do business offshore – while that’s clearly not the case – doesn’t seem to be based on good business practices. Amateurish and could possibly land them in hot water should they ever grow beyond their base of ~50 bagholders. I doubt they’ve talked to a lawyer about this as I can’t imagine that someone with any clue on the subject could have advised them that it’s ok to pretend being registered in Seychelles while running a financial business via UK/US companies.

I’d guess that the UK Ltd had an Apple developer account so they saved $100 by using that and not signing up under their real business name, whatever that is. Initially Google Play had a different business name then it was was changed to match. Still different from the one on ionomy.com. Still no text of the TOS you’re agreeing to inside the app.

The civil suit has now become a whole lot stronger. Adam could be in for some compensation now just like the multitude of customers that Garza screwed over. Unfortunately that could include characters like you and suchmoon

Still peddling your absurd conjecture that I lost money on hashlets?

Honey, I had serious doubts about Garza’s “cloud mining” bullshit before he even concocted the hashlet scheme. Why would I “invest” in something like that?

August 2014, look it up, it’s right here on Bitcointalk. No photoshop skills required.

Oh yeah right if I remember rightly you bought hashlets for market research purposes only

So if the civil case is a success you stand to gain nothing. If this is the case then you deserve a medal as you selfless acts helped justice be done.

Anyway lets have a refresher, your pricing competition

This table really hits home how much you and your troll buddies don’t have a clue about anything beyond pump and dump economics.

Today ION passed the 50 cent mark

Any predictions on when Ion will hit $1

korvas128

Oh yeah right if I remember rightly you bought hashlets for market research purposes only

So if the civil case is a success you stand to gain nothing. If this is the case then you deserve a medal as you selfless acts helped justice be done.

I stand to enjoy a decent amount of schadenfreude. Garza having to pay up AND possibly go to jail would be awesome. And I gained a shitton already by not buying that crap… check bitcoin exchange rate in 2014. Thank you for the medal.

Anyway lets have a refresher, your pricing competition

This table really hits home how much you and your troll buddies don’t have a clue about anything beyond pump and dump economics.

Huh

Where’s MY clue in that? BTW the competition was open to anyone, EXCEPT myself, that would be ridiculous. Are you by any chance butthurt that you were too butthurt to participate?

Today ION passed the 50 cent mark

Any predictions on when Ion will hit $1

This one’s easy – when whoever is doing this decides to.

When do you think gravity (pun intended) is going to catch up to it?

This one’s easy – when whoever is doing this decides to.

When do you think gravity (pun intended) is going to catch up to it?
[/quote]

Hehe I knew your were going to say that That’s why I held back posting this

Make of this what you will….. someone who understands charts will see it for what it is.

Concerning Gravity it’s doing just fine

altheshort

There is also the IBC in Seychelles.

There is nothing wrong with LLCs or Ltds, anybody doing any kind of non-negligible business should care about separating their business liability from their personal one, and it’s cheap an easy to do in most jurisdictions. Obviously there is more to it than that, you actually have to keep assets separate etc but that’s another story.

However this shitshow of multiple companies claiming ownership of their products and pretending to do business offshore – while that’s clearly not the case – doesn’t seem to be based on good business practices. Amateurish and could possibly land them in hot water should they ever grow beyond their base of ~50 bagholders. I doubt they’ve talked to a lawyer about this as I can’t imagine that someone with any clue on the subject could have advised them that it’s ok to pretend being registered in Seychelles while running a financial business via UK/US companies.

I’d guess that the UK Ltd had an Apple developer account so they saved $100 by using that and not signing up under their real business name, whatever that is. Initially Google Play had a different business name then it was was changed to match. Still different from the one on ionomy.com. Still no text of the TOS you’re agreeing to inside the app.

Thanks for this. Believe it or not I had somehow completely forgotten about the Seychelles company. I suppose its difficult for us to pass judgment when we don’t have the full facts, but I’d agree that at the very least this structure appears messy.

To speak briefly to Korvas once again gloating over the price; I’ve said it before, I’ll say it again. The price is utterly irrelevant other than the warm sensation in your loins that it might give you unless you are taking profit. The only thing that will make this project a success is it’s base aim: successful games. 30 odd users per week over a month after release does not a successful game make, my friend. Everything else — the master nodes, the back slapping in your slack channel — all that will count for naught if the team can’t produce a product that captures a lot more users.

(Why?)

Published at Thu, 20 Apr 2017 22:06:27 +0000

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Re: [ANN] ION [ION] | POS 3.0 | Mobile Gaming | Join the ionomy today!

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