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  1. From the tipline:

    > Oh no dennis, not Qoin too! . . . I agree about the poor business model, and there seems to be an attitude of fake it till you make it.

    My attitude is that Qoin can take public monies and present themselves however they like in the industry and the circles they live and work in BUT when you go to the public with an investment proposal that is as you say “fake it until you make it” then this is WRONG. That was their mistake which I have been very careful to focuss on in the post. The principals may be selfish, greedy, liars and have spent a lifetime sucking off the public purse OR they may be nice people, family men, with a genuine intent and just out of their depth when actually running an exchange. None of that matters to me – it is 100% about the business – the impossible model, the misrepresentations, the absence of an ROI, the ludicrous projections and suchlike – it’s a scam and nothing personal. Again . . . my advice: don’t invest.

  2. Hi Dennis,
    Just read you post. If this is true i am very concerned. We operate a barterexchange in The Netherlands for almost thirteen years now. Before that we were members of an exchange in another country so we have been on both sides. Our exchange is not very large but that is by choice, we rather have quality over quantity.
    You are so right when you say that it takes a long time to establish a good membershipbase. The numbers tq is projecting in the prospectus are so far from the reality.
    In the last thirteen years we have seen exchanges come and go. Most of them failed because they think to lightly about it and have no perseverence because it does take a few years to establish.
    Also RvH has done a few attempts before, funded with money from the EU, like Amstelnet that they put to sleep after 2 years. And also around the time that he became a member of Irta when I was hosting an Irta conference in Brussles in 2007 he said he was about to start an exchange under the name of Qoin. He claimed to have a 1000 memebrs within a year.
    That never happened offcourse and after a year or so they quit that exchange to.
    What bothers me the most in your story is that they claim to be experts in this field and the general public can be fooled by this easily since there is not much known about the barterbusiness.
    And as experts they of all people should know that what they are projecting is not feasable ever. This is all very misleading and can damage a lot of ignorent imvestors.
    I think we need to report this to the autorities.
    The reputation of the barterbusiness in the netherlands is at stake.

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  1. […] positive about the horrible situation they were in. They simply had to, of course, as I had revealed too much BS in their business, completed a damning membership analysis and had asked too many questions that […]

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