Someone introduces PED as bitcoin (PEDCOIN)

I sent a support case about this months back before I sold out, I never got a reply....

 

Don't mistake the two things.

Of course this is allowed to do whatever you want with your peds (I actually sold some peds for Bitcoin).

The point of this Mc post, is how I fall on a thread created by some entropian member on the most popular bitcoin forum, who is basically selling "lies" in some ways.


The guy created a new "shit coin", then called it "PEDS" like our ingame currency.
(An alternative crypto coin created, with nothing special about it, like a million before him and after him).

Then he announces you can exchange it for ingame peds (almost like saying his shit coin is pegged to ingame peds, just like MindArk creates virtual PEDs when you deposit cash, out of thin air)

And since he is not MindArk, and there can be over 2 billion coin mined of this shit coin that is obvioulsy not backed by MindArk, this surely sound like false adverstising on top of it.

It is a miserable attempt to create value on a meaningless alternative coin, with hope to bank on people that would buy the lie, and dump his shits coins on them because of it.

(To create a Momemtum and good conditions, to produce a short term value on something that got no value at all).

Because mining the coins he created, is easy, and he has a shit load of them too.

(Premine percent 1% Premine amount 20202020 coins, so the guy also got 20 million of his own shit coin ;) )

 

Why on earth would MA allow this? Not only is it extremely dodgy and open to abuse it is directly covered in the EULA s2.2

(v) No peripheral services or goods. The Participant may not provide any peripheral services or goods related to the Entropia Universe System. MindArk reserves the right to revoke this limitation either generally or in specific cases.

I'm very surprised you haven't been locked for it at the very least

 

MindArk has always allowed people to do whatever they want with their peds, they simply do not support it and don't want to get involved, because they are not responsible of anything that can take places outside the game.
And by writing it, it gives them some kind of guarantee.

That is why It is also written, that "they reserve the right to revoke this limitation".

Even famous people sold gear or stuff like domes for direct wire transfer aswell, and various ways ;).

+ Bitcoin is being used as a mean to deposit in EU these days.

So if you are surprised why I am not locked, then think again and the thousands other people that then could get locked with that train of thoughts for not using the withdrawal system and using other means of depositing / withdrawing.

There are exploiters when it comes to PED acquired themselves, and they get dealt with by MindArk.Examples, people using faudulents cards, people who buy "bad peds".

If you are not buying from a bad source, or not selling peds that was not acquired legally, then no problems, but if it happens, it's a different story.

 

By the way, I just noticed that the same person also created other coins linked to "PED COIN"
[LYST]

Lysterium coin :
https://bitcointalk.org/index.php?topic=1580957.0

[SWEAT]

Sweat coin :

https://bitcointalk.org/index.php?topic=1580967.msg15875342#msg15875342

[NARC]

Narcanisum coin :

https://bitcointalk.org/index.php?topic=1580960.msg15873749#msg15873749


ps: However it seems the "creator" let all of those die now.

 

Why do you mention my name when it is not on the original page?

 

More details about the shit makormid did
http://www.planetcalypsoforum.com/forums/showthread.php?287973-Notice-regarding-PEDcoin

 

Added this the THE LIST

 

I think it would be good for McCormick to also make a statement on this. After all, he was the one who started the thread.

 

Because the Op of those thread (apparently now edited / removed) acted as if he was called Axe murderer .

It actually seemed "as if", even if apparently that part was taken from an old article. Unfortunately.


ps: All McCormick did is : get this information from me, then checked it out, and decided to post something about it, which is right.

 

AnsheChung's Dreamland Stock exchange wasn't banned for this but was told they would be liable for any losses iirc so they stopped people swapping peds for Lindens after that.

I believe the idea being that if someone deposited into Entropia then moved the cash to Lindens via Anshe, then cancelled the credit card deposit, MA would recoup the loss off Anshe.

Wist

 

Absolutely correct, and why my PEDtoClick is allowed by MA without worry of that as well (we are a 'MindArk approved channel' after all), as it only moves PED from my wallet to players, there is no liability. The name PEDCoin worried me at first as it has a similar sounding title compared to my website and I considered using that term in the past but ended up using PED and PEC instead as it's more simple (and was allowed to by MA). Having worked with bitcoin majorly myself I hope the random suspicion doesn't fall on me on this bullshit here.