Goodbye /r/dogecoin - neither I nor my company will stand for being bullied by "experienced members". (self.dogecoin)
submitted an hour ago * by moolah_moolah.io founder
As a group of experienced crypto community members, we want to openly raise some concerns aboutMoolah.io (a prevalent BTC and altcoin trade & merchant service platform), requesting the public release of information that would assist in alleviating these concerns. We are doing this anonymously and won't be replying to this post, as to keep things objective and to promote free-thinking.
I would be far more inclined to read this post, if it was not anonymous. I am aware that +/u/NeutralityMentality is one of the people behind this post, as it is known that he has a personal issue with me - and got more than “annoyed” when it was discussed that Moofund would be involved with the foundation. This was further shown at DogeconSF.
Moolah's CEO goes by the name "Alex Green", and says that he lives in Switzerland, which is where the service's domains and servers are registered
My name is Alex Green, you do not need to paraphrase it. I also live in Bristol now, and this has been common knowledge for quite some time.
Nobody in the community (or his company as far as we know) has physically met "Alex Green" or seen verifiable proof of his identity.
People in the company have, random people in the community have not. I am also not in the habit of showing my passport to random people, you know - identity theft is a bit of a pain in the ass.
He is an online ghost, with no photos of the CEO or history of his experience as the owner of a successful business available
This is the first business that I have owned. Are all business owners now required to have previously owned a business? Seems like a bit of an impossible scenario. +/u/ummjackson is aware why I am a ghost, and I will not be making that information public knowledge.
If you Google this business address it shows that it belongs to A1 Services, a cheap and dirty business incorporation service that scammers seem to love.
This statement is absolute bullshit. http://www.companyformations247.co.uk is one of the largest formation companies in the United Kingdom, and are who we used as they also offered a registered office service - as we had already completed due diligence for a possible BVI incorporation, it also seemed quite easy.
By claiming people that use incorporation services are scammers, you’re attacking quite a large number of businesses.
Moolah have raised 750 BTC from regular people on the internet "investing" in the company, which equals around US$330,000 by todays exchange rate. Extra note: It's actually technically illegal in the US to offer shares to regular people in this way
Our profit entitlement scheme has done nothing illegal in referenced to the countries of our primary operations. The extra note is redundant.
From user reports and IRC logs, it is estimated that Moolah are holding more than US$800,000 in hot wallets, across their range of supported crypto currencies
Yes, because people trust us. It does not matter what you say, you are out to damage trust and reputation in us - and in doing so, you’re going to hit dogecoin just as hard.
This week, Moolah claimed to have processed around US$600,000 with their merchant platform and payment processor. Their current fee structure however would support revenues of only US$6,000.
We have varying fee structures in place and a number of private agreements (dedicated instances, etc).
The company has given away more than US$75,000 as online tips, sponsoring events and charity. This is aggressive spending for a company only 3 months old and suggests that they must have dug into either their raised "investment" capital or actual stored users funds.
This number is completely incorrect. At no point have we ever dipped in to user funds either.
Failure of their (they launched yesterday) first charity campaign, to raise $50,000 for “the homeless”, which is worth noting has no specific charity currently designated
As the funds will not be going to a single charity. So no, it is not worth noting.
Bad press associated with the fact that Moolah were a key driving force behind this week's upcoming NASCAR sponsorship
The only bad press that is about to come from this, is your post.
Provide siginificant and verifiable proof of founder and CEO Alex Green's identity and history, to establish consumer and merchant trust in the business
Offer proof of liquidity and a walkthrough of the security measures they are using for their hot wallets
This is something we’re actively working on, V2 has built-in audit measures for users to verify their balance.
Explain where the US$75,000+ sponsorship and tipping funds came from, and how this affects their “investors"
If you are a PIE holder, you are welcome to email us. If you are not, then well, you won’t be getting an answer to this question. I might suggest you look in to the concepts of marketing and social influence though, it might be some good reading for you.
Until these open questions are answered and trust is built, we suggest users be careful when dealing with this business. If you have other questions of Moolah we ask that also raise them now within the community, before the business grows too big or takes any more "investment" rounds from the pockets of average people.
Unless you have evidence of actual wrongdoing, I would kindly ask that you refrain from issuing such warnings.
I am not the only formal shareholder in the company. I am not the only formal manager of the company. This has gone past the stage of being ridiculous, and I am going to have to issue a public advisory to any businesses looking to do business in the dogecoin space to be wary of such co-ordinated attacks by people at a high level.
+/u/ummjackson - I expected better from you, especially after our discussion. The fact you wanted this thread stickied is nothing short of outrageous.
+/u/NeutralityMentality - You need to stop this witch hunt against me (and don’t even try to deny it), as it is getting really annoying. You seem pissed off that we’re “stepping on your turf”.
I will not be bullied by this community. Congratulations, certain senior members of /r/dogecoin, you just forced the business that has tried to do the most good for the coin, out of the community.
Edit
I do not have the energy to be involved with toxic people. It is burning me out both mentally and physically, and I will no longer let it affect my health.
To the majority of shibes, we know you're awesome, we love you - but when "senior members of the community" are speaking out in the form of borderline defamation, and constantly attacking us, it becomes too much.
People who invested, did so of their own free will. And having the founders, mods and foundation members of the community speaking on "their behalf" is ridiculous.
Edit 2
I should point out that our Chief Operating Officer ( /u/TheBoffin ) is the public face of the company. He is also responsible for the US side of the operation (moolah.io inc and moofund inc). He is the second largest shareholder after me, and once I further dilute my own holdings (for additional staff equity), will be on par with me.
We are not a company of one person, despite what some members of the community would have you think.
Edit 3
I understand that saying "goodbye" may seem like me throwing my toys out of the pram - but the rest of my post stands. I'm going to take a deep breath and relax.
Edit 4
Can I make it clear again that I mean the initial edit? I LOVE YOU VAST MAJORITY OF COMMUNITY!
