UPDATE 10/03/2021: Now the withdrawal limit has been reduced to $100 a day if you or someone you know wants to complain a guide has been made available here
UPDATE 26/01/2021: Over the last 2 weeks BTX has restricted your ability to sell Qoin from $1,000 a day to $250 a day.
Before you ask yes the above wallet has over Q1,000 more than enough to fund any sell option. OTC might look like an option but so far nobody seems to be getting approved.
Some people think Qoin will be “listed on big crypto exchanges” or “global expansion will bring back more sell options”. In my opinion that is highly unlikely. Qoin/BTX’s umbrella company is taking steps to keep as much AUD in their pocket and out of yours.
Meanwhile the blackmarket price of Qoin is crashing….
/end update
Take a look at these two photos taken days apart:
Notice how the Qoin Market Capitalization EXPLODED from AUD 736,119,306 to AUD 1,361,418,074 while the price went up?
Is it coincidence that when you divide AUD 736,119,306 by 200,000,000 (the whitepaper supply of Qoin) you get AUD 3.68?
Or if you divide AUD 1,361,418,074 by 362,079,275 you get AUD 3.76?
I think not.
How can Mr. Tony Wiese the “Governor of the Qoin Reserve” manufacture 162,079,275 qoin, in my opinion either using misleading advertising for a financial product or stealing 44.76% by increasing the supply by 81%, (taxing might be more appropriate) yet the price trajectory is unaffected?
You simply can not create AUD 625,298,768 of value virtually overnight. To make matters worse those left holding qoin just lost 44.76% of their value but because they are using BTX as their “reputable digital currency exchange” you still are liable for Capital Gains Tax at the old price!
Exchange, AUSTRAC account number 100635628)
This might not seem important at first (unless you are a software engineer), but what makes blockchains special is you can’t go back and change the numbers like Excel… or a bank. On public blockchains you would use a block explorer (like etherscan.io) to inspect but they use a private blockchain requiring federal subpoena. Don’t even get me started on the fact that the crypto exchange price and the qoin shop advertised price don’t match up when Quorum blockchains make new blocks up to every 50 milliseconds…
2020 has been a terrible year for so many, the last thing we needed was a South African in my opinion con man ripping off everyone’s AUD 20,000 in early super they were trying their best to invest. But this is the clearest signal that it has happened. As someone who has owned cryptocurrency when there was only one (bitcoin), living with cryptocurrency for over 2,571 days and after seeing what happened with ICOs in 2017, trust me this is just another example of someone unable to avoid the temptation of printing their own money… and they did, AUD 625,298,768 in one day… in a keystroke… in my opinion
If you have been a victim of this in my opinion scam we recommend misleading and deceptive conduct law (https://en.wikipedia.org/wiki/Australian_Consumer_Law) previously known as Section 52 of the Trade Practices Act, now Section 18 of the Australian Consumer Law
If you want to help us prevent more mum and dad businesses get taken in this in my opinion scam please contact:
Australian Securities and Investments Commission (ASIC)’s Infoline — 1300 300 630 https://asic.gov.au/about-asic/contact-us/how-to-complain/report-misconduct-to-asic/ or state specifically https://moneysmart.gov.au/how-to-complain
Here are some additional resources to help you with your appeal:
Leaked document, Agents of Qoin: The top affiliates plus IDs of Australian Qoin Pyramid https://www.dropbox.com/s/297xh5kqzfomdfm/qoinagents%20-%20Copy.csv?dl=0 backup (https://mega.nz/file/8Nh0BZ6D#fBCZnfMuDCLLnkCAb2zPyLUVW-U18ZttPQKSLWTnNYw) (apparently you can get these yourself if you sign up for their wallet so not that special but it still is evidence)
IncentiaPay (ASX: INP) disposing of Bartercard for $2m Dec 24, 2019 https://hotcopper.com.au/documentdownload?id=uOMxKKzFkiWRTLKhOROKAxjvSDYL4ge4wBXwv%2F5377FiGug%3D to TCM Investments Australia Pty Ltd ACN 145 146 872 http://www.aspecthuntley.com.au/asxdata/20170713/pdf/01874103.pdf (old documents but all I could find)
We have been tracking Qoin/Bartercard for months and at this point in my opinion may as well add Australian Federal Police to the list as they deal with criminals of this magnitude: https://www.afp.gov.au/contact-us
Feel free to contact us with any additional information at [email protected] this is just a hobby but we are here to help.
Please share this so we can stop these in my opinion evil bastards from ripping off innocent Australian businesses just trying to get ahead in these difficult times!
These are my opinions and the evidence used to form them. No accusations are being made. It is also my opinion that it is an issue of public interest as my family, friends, and fellow small business owners are being targeted (in my opinion).
You have hit the nail right on the head with your comments.
I have a small business who now does not accept qoin due to the difficulty of (a) Finding merchants who accept it and (b) Qoin being unwilling to let me cash out.
I fear that my 20K Qoin is worthless.
Note to other merchants: I am a hospitality business and having previously taken Qoin, I now get scammers who attempt to pay with it, then pretend they have no other form of payment.