A thread on openledger

[Crypto Kong]

Bump - Reminder to not deposit at OpenLedger, you risk loosing your funds.

[bench]

The new fee schedule is just another punch in the customer's face. The minimum withdraw amount exclude most OPEN.asset holder. The complete opposite from open.

[Crypto Kong]

Instead of putting the onus on others to prove your intentions, why don't you just openly declare that what OpenLedger is doing is wrong if you do not support them. The majority of OpenLedgers users holding open.xxx assets can no longer withdraw. OpenLedger have ripped off their user base and a massive chunk of the BitShares community.

[Thul3]

I asked to show me where i not supported to keep dev team like you claimed it.
Or where do i support the fee increase of OL.

You claimed it so i call it fudd till you point me where i not supported to keep the dev team or where i was supporting the increase of fee's.


About OL would OL have shady intentions they would have implemented KYC and you could have done nothing against it.
It's a diffrence if somebody is temp. struggling because of diffrent kind of things or if he has a clear intention to scam.


Also you called me on telegram dumb for having the opinion you are now publicly posting as your findings.

[Crypto Kong]

Apparently anything thule doesnt agree with is fud. He deflects from the fact openledger are stealing millions in user funds to argue about the definition of an exit scam whilst trying to label me a fudster for making people aware of the situation so they dont loose their money, a true politician at work. He doesnt care about the money you might loose depositing BTC or ETH at openledger, he only cares about halting the spread of bad news in case it pushes BTS price down further.

[Thul3]

Wow. Not only does thule support the firing of majority of bitshares devs and bringing development to a halt but he now also seems to support openledger stealing the people of this communities funds. Wow.

Why are you fudding ?

Did i supported to fire dev team ?
Maybe you can point me where i ever not supported to keep dev team ?

Did i said anywhere i support the increase of fee's ?
I said it's no exit scam to which i stick.

You post a lot of fud in the past days.
Your conclusion now which you want to act so smart is something i said since day one and pointed even to you to look at schiessl statement.

Still it's clearly no exit scam.

[Crypto Kong]

People getting caught up in the definition of exit scam need to wake up. It is clear that openledger assets are not fully backed, why else would they not take part in the MM contest where you have to prove your assets are backed. They have clearly been spending user funds to pay for their new vpledger project and now need access to more user funds to continue to pay for it. Hence the raised withdrawal allowances stopping people from withdrawing and giving openledger the ability to spend and no reason to back the asset. Openledger are stealing users funds, simple as that, be cautious of anyone telling you otherwise.

[Crypto Kong]

How is suddenly charging a 100x higher fee when withdrawing just 1 Bitcoin and preventing the majority of users to withdraw their funds due to crazy minimum withdrawal amounts not a form of a scam? Both these actions are even illegal as customers need to be informed before such drastic changes are done by EU law. And what if they charged a withdrawal fee of 99.9%, how would you call that?

Don't get me wrong but do you ever read TOS when using a "financial" service ?
No court speaks in favour of people who do not read TOS

Law > ToS (especially in EU) and courts constantly invalidate clauses from ToS and fine companies for putting illegal ones into it.

Thule conveniently forgot to quote the part of openledgers terms of service that say exactly what you have just said to suit his narrative.

"If any provision of these Terms is deemed unlawful, void, or for any reason unenforceable, then that provision shall be deemed severable from these Terms and will not affect the validity and enforceability of any remaining provisions."

[Nesh]

How is suddenly charging a 100x higher fee when withdrawing just 1 Bitcoin and preventing the majority of users to withdraw their funds due to crazy minimum withdrawal amounts not a form of a scam? Both these actions are even illegal as customers need to be informed before such drastic changes are done by EU law. And what if they charged a withdrawal fee of 99.9%, how would you call that?

Don't get me wrong but do you ever read TOS when using a "financial" service ?
No court speaks in favour of people who do not read TOS

Law > ToS (especially in EU) and courts constantly invalidate clauses from ToS and fine companies for putting illegal ones into it.

[Crypto Kong]

Wow. Not only does thule support the firing of majority of bitshares devs and bringing development to a halt but he now also seems to support openledger stealing the people of this communities funds. Wow.

[Thul3]

What a disgrace. A flat 5% withdrawal fee? Insane minimum withdrawal amounts (0.1 BTC, 5 ETH, 40XMR, ...)?? Are they crazy or is that their own form of an exit scam? As they are properly registered as a company in denmark I hope someone takes this case to the appropriate authorities.

I have reported them to the Danish FSA but the more people who do the same the better, I encourage everyone with trapped funds or not to report them.

Stop fudding or at least read the defenition of exit scam.
Raising withdraw cost is no exit scam which proof you are in person as you received your coins.

How is suddenly charging a 100x higher fee when withdrawing just 1 Bitcoin and preventing the majority of users to withdraw their funds due to crazy minimum withdrawal amounts not a form of a scam? Both these actions are even illegal as customers need to be informed before such drastic changes are done by EU law. And what if they charged a withdrawal fee of 99.9%, how would you call that?

Don't get me wrong but do you ever read TOS when using a "financial" service ?
No court speaks in favour of people who do not read TOS

https://webcache.googleusercontent.com/search?q=cache:kEmnK50xPtQJ:https://openledger.info/terms/+&cd=1&hl=pl&ct=clnk&gl=pl&client=firefox-b-ab

Changes to Terms of Use

We reserve the right to change, add or remove parts of these Terms of Use at any time and at our sole discretion. You will be notified of any changes via e-mail provided to the Company.

IF YOU DO NOT ACCEPT THE TERMS OF USE, DO NOT ACCESS THIS WEBSITE.

Acceptance of the Terms of Use

If you do not accept these Terms, you must refrain from using the Website. If you continue to use the Website, you will be deemed to have accepted these Terms of Use. These

Limitations on liability

TO THE FULLEST EXTENT ALLOWED BY APPLICABLE LAW, YOU AGREE THAT OPENLEDGER IS NOT LIABLE TO YOU FOR ANY LOSS OR DAMAGES OF ANY KIND (INCLUDING, WITHOUT LIMITATION, ANY DIRECT, SPECIAL, INDIRECT, INCIDENTAL, EXEMPLARY, CONSEQUENTIAL, ECONOMIC, OR PUNITIVE DAMAGES), INCLUDING, WITHOUT LIMITATION, ANY LOSS OR DAMAGES ARISING OUT OF OR IN ANY WAY CONNECTED WITH OR RELATING TO YOUR USE OF THE WEBSITE OR WITH THE DELAY OR INABILITY TO USE THE WEBSITE, OR FOR ANY INFORMATION, CONTENT, AND/OR SERVICES ACCESSED THROUGH THE WEBSITE, OR OTHERWISE ARISING OUT OF THE USE OF THE WEBSITE, EVEN IF OPENLEDGER HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. IN NO EVENT AND UNDER NO CIRCUMSTANCES WILL OPENLEDGER BE LIABLE TO YOU FOR ANY REASON OR ANY CAUSE OF ACTION WHATSOEVER.

I expect OpenLedger to shut down in the next 1-2 weeks. Clearly their fee and withdrawal "changes" serve no reason other than ripping people off, earning a ton from withdrawals and keeping a ton of assets below the minimum withdrawal amounts - they obviously cannot stay competitive like this. Also, by EU and danish law they would need to introduce KYC and AML stuff by early january 2020 which they most likely don't plan to do.

Still it's clearly no exit scam.There seems to be another reason for these drastic changes.Would it be an exit scam OL would have implemented KYC already to even increase the burden for withdrawing funds like CB did.

Don't get me wrong but OL's new project would be instantly dead would they run an exit scam.
Nobody would invest so much money into a new project run by the same company when having bad intentions in mind.

[Nesh]

What a disgrace. A flat 5% withdrawal fee? Insane minimum withdrawal amounts (0.1 BTC, 5 ETH, 40XMR, ...)?? Are they crazy or is that their own form of an exit scam? As they are properly registered as a company in denmark I hope someone takes this case to the appropriate authorities.

I have reported them to the Danish FSA but the more people who do the same the better, I encourage everyone with trapped funds or not to report them.

Stop fudding or at least read the defenition of exit scam.
Raising withdraw cost is no exit scam which proof you are in person as you received your coins.

How is suddenly charging a 100x higher fee when withdrawing just 1 Bitcoin and preventing the majority of users to withdraw their funds due to crazy minimum withdrawal amounts not a form of a scam? Both these actions are even illegal as customers need to be informed before such drastic changes are done by EU law. And what if they charged a withdrawal fee of 99.9%, how would you call that?

[mike.wang]

I am going to report.

What a disgrace. A flat 5% withdrawal fee? Insane minimum withdrawal amounts (0.1 BTC, 5 ETH, 40XMR, ...)?? Are they crazy or is that their own form of an exit scam? As they are properly registered as a company in denmark I hope someone takes this case to the appropriate authorities.

I have reported them to the Danish FSA but the more people who do the same the better, I encourage everyone with trapped funds or not to report them.

[Thul3]

What a disgrace. A flat 5% withdrawal fee? Insane minimum withdrawal amounts (0.1 BTC, 5 ETH, 40XMR, ...)?? Are they crazy or is that their own form of an exit scam? As they are properly registered as a company in denmark I hope someone takes this case to the appropriate authorities.

I have reported them to the Danish FSA but the more people who do the same the better, I encourage everyone with trapped funds or not to report them.

Stop fudding or at least read the defenition of exit scam.
Raising withdraw cost is no exit scam which proof you are in person as you received your coins.

[Crypto Kong]

What a disgrace. A flat 5% withdrawal fee? Insane minimum withdrawal amounts (0.1 BTC, 5 ETH, 40XMR, ...)?? Are they crazy or is that their own form of an exit scam? As they are properly registered as a company in denmark I hope someone takes this case to the appropriate authorities.

I have reported them to the Danish FSA but the more people who do the same the better, I encourage everyone with trapped funds or not to report them.