GCR Marketing closed as SEC investigation launched
About a fortnight ago we covered the closure of Global Currency Reserve.
The closure was announced by CEO Bob Wood on December 31st, via an email sent out to GCR affiliates.
Nexxus University was touted as a rebranded opportunity going forward, however this time with new ownership and management. Details have otherwise been sketchy.
Now in a Nexxus University webinar held a few days ago, a ton of information regarding the closure of Global Currency Reserve and formation of Nexxus University has been clarified.
The webinar in question was held on or around the 9th of January, with Bob Wood (right) doing most of the talking.
And if you’re wondering why Bob Wood is hosting Nexxus University webinars, when supposedly it’s a new company with new ownership and management, here’s how he explains it:
When I organized the new company, I also went out and organized the investors.
So the owners and the funding sources for the new company, I put that all together. Basically I own the company and brought in some people that are funding partners to provide the money.
The funding partners are involved in the networking side of the business. They provided the funds to build the new company.
Their reward for doing that has been in the marketing plan. They have favorable positions in the marketing plan.
They wanted to remain anonymous because they did not want any retaliation against them.
The (new) company is not located in the United States.
The (new) company, the banking relationships and the credit card processing will be located in Belize. Everything is (now) happening out of Belize because of regulation (in the United States).
In the webinar, Wood does not clarify how Nexxus University is a new company with him still at the helm.
The funding sources for the new company insisted on having a new management team to run the new company.
Nor does Wood disclose who the purported “new management” is.
As to the specifics of why Global Currency Reserve closed, Wood explains the primary reason was hacking, which in turn lead to the theft of 86 million GCR Coins.
GCR Marketing made the decision to close because it couldn’t support itself financially.
When the coin went public, GCR Marketing as a company had several serious problems.
Number one, the price of the coin crashed. Number two, a hacker was attacking user’s accounts inside and outside the system.
Because of that, sales had dropped to nearly nothing. And the company did not have the revenue to invest in the Nexxus development.
The crash of GCR Coin’s value, Wood contends, was a result of sabotage by their developer.
Our very first GCR Coin was built back when we first started the company, by a consultant that we hired called Anthony.
We ran into a bunch of problems with Anthony, not being accurate, not disclosing information, not giving us information that we needed for the coin, not giving us the source-code.
We ran into all sorts of problems with Anthony, so we decided to hire a new consultant to build a second version of GCR Coin.
We went though an employment agency called Satoshi Talent. They helped us interview locate an experienced cryptocurrency developer that lives in Boston.
His name is Jason. I interviewed him, everything checked out so we hired him.
We paid him well to develop the new coin for us.
After we got the coin live, we got the coin public, then we discontinued using Jason. We were having some challenges with Jason also.
That was part of our experience with cryptocurrency, that there are not very many skilled cryptocurrency developers – so we kinda have to work with what we have out there.
This particular developer was very arrogant and was creating all kinds of problems.
He did not want to let us have anything to do with any of the source-code. He wouldn’t let our developers access the source-code, so we had t terminate out relationship with him.
We eventually got all the source-code (and) during the audit we discovered that Jason had created a backdoor into that company wallet that was on the blockchain.
And he started siphoning coins out of the wallet off the blockchain.
From September 1st till November 30th, for a three month period, on almost a daily basis he was going into the wallet.
We documented all of this, we have all the proof on this, that Jason, our developer of our second coin, was stealing coins out of the company wallet that was backing the online wallet.
That was why we weren’t able to send out any more coins, because the coins were all stolen out of the wallet. Jason stole 83 million GCR Coins.
The FBI has already been brought in and we’re turning over all this research information over to them.
They will subpoena the records from the exchange and track down further information they need to prosecute.
The FBI aren’t the only US regulator investigating matters related to GCR, with Wood revealing the SEC has launched an investigation of their own.
A few weeks ago GCR Marketing received letters … saying:
“We have received complaints about your company so we are now looking into your company.
Please send us all the information you have, all the communications, all the documents because we’re looking into your company.”
The complaints were likely tied to bank account closures, with GCR Marketing perhaps tripping money laundering filters in place (US banks are required to report suspicious activity to US regulators).
GCR Marketing had to open up ten different bank accounts over time, because the banks, they would look into what we were doing.
We’d open up an account, we’d give them all the information. We’d start doing business with them and then they’d start looking deeper into what we were doing and say, “Oh, you’re doing cryptocurrency”. And they would shut our account down.
Wood states the reason the banks gave him for the account closures is they were “trying to protect the consumer”.
Meanwhile the status of the SEC’s investigation into GCR Marketing is unknown, ditto how long they’ve been investigating the company for.
Upon receiving correspondence from the SEC, Wood sought guidance from MLM attorney Kevin Thompson.
Thompson purportedly told Wood ‘things don’t look good for GCR Marketing‘.
That’s why we are not in the United States, that’s why we are in Belize.
Belize is a known tax-haven, with little to no corporate regulation.
I’ve obviously not privy to the specifics of the SEC’s investigation into GCR, however comments by Wood on the webinar offer some clues.
A wallet on the blockchain that was basically a company wallet. That was a wallet that had the real coins on the blockchain.
The (GCR) online wallet was not on the blockchain. It was our own internal wallet.
We were managing everyone’s coin and when they released them we would send them out to them.
The reality is the coins that we have on record in your online wallet do not physically exist n the blockchain.
They do not exist, the coins are not there any longer, those coins were stolen by the developer.
Within the context of a securities offering, GCR sold units in an online wallet that had nothing to do with GCR Coins.
Affiliates paid GCR for these units, with the value of the units purportedly pegged to the value of GCR Coins.
Trouble is, unless an affiliate “released” the units, GCR never converted them to coins. The units themselves were thus a securities offering, and to the best of my knowledge Global Currency Reserve never registered with the SEC.
Again, I don’t know for sure, but I think that’s a pretty compelling basis for an SEC investigation.
Remarkably the move offshore appears to be the only effort Wood has implemented to address unregistered securities concerns in Nexxus University.
The company now bundled “education packages” with affiliate investment in Nexxus Coins, however, as Wood explains:
All (Nexxus University) has done, is it has compiled most of the education that is out there on the internet.
It has organized it and put into a learning management system. It has organized lessons into various topics and various subjects.
It is existing content on the internet you can go and find yourself. (Nexxus University) doesn’t have any unique knowledge that’s not out there on the internet already.
But uh yeah, that Nexxus University affiliates are paying for the same education packages (full of freely available information) month after month, totally explains how it’s not an unregistered security offering.
In addition to unregistered securities, you also have the issue of existing GCR Coins, the units GCR created for affiliates in their “company wallet” and outstanding commissions owed.
There are some people that still have bonuses that they haven’t collected on, they’re sitting in GCR Marketing.
Well GCR Marketing is closed out of business, it’s out of money so it doesn’t have any cash to pay out those bonuses in people’s wallets.
Nexxus is going to honor those payouts in coins.
Also paid out in Nexxus Coins will be a match on actual GCR Coins still held by affiliates, and a double match on GCR Coin units that were recorded in the company backoffice.
Wood explains that
the new company is creating a new GCR coin, just like we did the first time.
When we had problems with Anthony, we had to create another coin so we could make good on all the commitments of that first coin.
We’re doing the same thing again. We’re creating another GCR Coin.
In addition to covering Global Currency Reserve affiliate losses, Wood claims the reasons behind the new launch were to
- offer a simpler solution based on many experiences with GCR Marketing
- to create a simpler comp plan
- to implement simpler payment processing
- provide a lower entry fee ($10)
- elimate all the challenges and headaches of running a cryptocurrency company in the United States
The new company is located outside of the United States.
We’ve had a lot of challenges in the United States. They do not like cryptocurrency, they’ve caused all kinds of problems for us.
Confusingly, GCR Coin is being touted as a stand-alone currency and will continue on without GCR Marketing.
GCR Coin is alive and well and will be supported by the coin holder themselves. Nexxus will still support GCR Coins.
Theft of millions of coins that were then dumped on the market when we went public. That’s something that just happened in the course of doing business.
I get how GCR Coin being publicly traded is a disconnection from GCR Marketing, but how the coin will continue on without the attached MLM opportunity escapes me.
Where’s the value to non-affiliates? I mean what, you’ve got a bunch of GCR affiliates who snatched up the stolen coins when they were dumped… and they’ll now sit on them in perpetuity hoping, by some miracle, that the price of them will somehow go up?
Riiiiiiiiiiight.
Logically speaking, if GCR Coins had any projected value, Wood and Nexxus University most certainly wouldn’t be promising holders an equal amount of Nexxus Coins:
Everyone who is holding GCR Coins will receive the Nexxus Coin. So you will hold both coins. You will hold the GCR Coin and you can hold the Nexxus Coin.
The new coin is basically a clone of GCR Coin.
I really can’t see GCR Coin not being abandoned in light of holders being given Nexxus “clone” coins.
And despite not having even launched yet (Wood claims he’s still deciding on a Nexxus Coin developer), the value of Nexxus Coin going forward doesn’t strike me as confident.
We are not doing any transacting in cryptocurrency in Nexxus University. We are only taking payments in on Visa and Mastercard, and we’re doing our payouts with a traditional online wallet that’ll have a Visa or Mastercard debit card tied to it.
It is traditional networking, no cryptocurrency transactions in (Nexxus) University.
The company that is selling Nexxus Coins to affiliates wants nothing to do with the coins, nor cryptocurrencies in general.
If Nexxus University themselves refuse to transact in cryptocurrencies (Nexxus Coin or otherwise), they’re going to convince merchants to accept the coin how?
The Nexxus University webinar runs it at almost three hours, with the key take-away points from it summarized below:
- Nexxus University is owned by Bob Wood, is claimed to not be a reboot despite Wood’s involvement and admission Nexxus Coin is a GCR Coin clone
- the SEC are investigating Wood and Global Currency Reserve
- the Nexxus University compensation plan is stacked with preloaded positions by anonymous investors
- Nexxus University is being run out of the US, but registered in the shady jurisdiction of Belize because of US regulations
- Nexxus Coin is a GCR Coin clone with the primary purpose of recouping funds lost by affiliates who invested in the first two GCR Coins
Nexxus University is currently scheduled to launch in February, with a BehindMLM review pending.
Stay tuned…
some names at the forefront of the nexxus university are:
Daniel Spiteri
Michael Bailey
Kelly BE
Kelly Ann
they may be at the top of the nexxus pyramid and maybe among the ‘investors’ bob wood mentioned in the webinar.
another explanation for the SEC’s involvement may be that the SEC views selling ‘mining’ or ‘hashlets’ as an ‘investment contract’ amounting to a ‘securities’ offering.
in dec,2015 the SEC charged GAW miners with selling unregistered securities and running a ponzi scheme.
this was because:
under howeys test for investment contract the SEC argues that:
1] the public which bought hashlets or mining power were ‘investing money’
similarly, by purchasing mining packages of different denominations GCR investors were investing for profits that the GCR currency would generate.
2] investors were investing in a ‘common enterprise’ because:
similarly, GCR investors were investing in the mining of the GCR coin for a slice of the computing power engaged by GCR marketing via some cloud mining service.
3] the SEC argues that hashlet investors were ‘passive investors’ because:
similarly, GCR investors just bought the mining packages and relied on GCR to do the mining, launch the coin, create the environment to sustain the coin etc.
so, the SEC clearly views the selling of ‘collective mining’ as a securities offering.
lexology.com/library/detail.aspx?g=7b08df2f-ad14-417f-b6ac-b53b9a25be09
Nexxus has new ownership and management? Who are they?
Wood said:
As read in the company Terms of use,
nexxusuniversity.com/Sections/Company/21/TermsOfUse.pdf
Am I reading this wrong or did Bob Wood say something different than what is stated on their site terms?
Please allow me to clarify the information posted here. I am more than willing and have offered in the past to speak with Oz the editor of this website.
More accurate information could then be posted here and the subjecture would be minimized. A professional reporter always goes directly to the source for information, then verifies through 3rd parties of course.
Nexxus University is not a rebrand of GCR Marketing. It is a brand new company owned by myself. GCR Marketing had six owners, five of which have no ownership in Nexxus. The new management is being put in place to manage the marketing and the customer support.
GCR Marketing was not hacked leading to the theft of 83M GCR Coins. The 83M coin theft was an inside job embezzled by a trusted cryptocurrency consultant.
The GCR Coins stolen were on the blockchain for the online wallets. Many of the coins in the online wallets were transferred there on the blockchain and were not just “units” for sale. I am working with the FBI regarding all the coin thefts.
The GCR bank accounts that were closed by the U.S. banks were closed because we were involved in cryptocurrency. They had nothing to do with money laundering concerns by the banks.
Most of the money for GCR Marketing never hit the U.S. banks and were held in bitcoin accounts and at Solid Trust Pay(STP).
The move to Belize has nothing to do with avoiding taxes or securities laws, but everything to do with cryptocurrency. The U.S. government and banks do not like cryptocurrency.
They don’t even like us educating people about cryptocurrency even if we are not doing any cryptocurrency processing. They are threatened by cryptocurrency. It is self-preservation on their part.
The SEC letters were delivered to some of the owners in December before Christmas. I did not receive a letter until after Christmas.
In the SEC letter it was clearly stated that it was not a claim of any wrong-doing, but just an initial inquiry. A conference with Kevin Thompson did take place immediately where Kevin stated that there is no concern with any criminal proceedings.
Kevin further stated, the most the SEC will probably do is investigate for a possible pyramid scheme looking for insufficient retail sales like they did to Vemma. We happen to have almost 50% retail customers that designated themselves as such and were only buying the mining services.
Kevin did state “things don’t look good”, he said because the government is skeptical of network marketing and especially doesn’t like cryptocurrency companies and they will look for any reason to shut them down.
The GCR Coin is a real cryptocurrency coin on the public market standing on its own independently from the GCR Marketing company. It has many supporters some listed in this article’s comments (whom by the way are not investors in Nexxus).
The GCR strategy and mission is being carried forward by the Nexxus University to “build real cryptocurrency value by creating buyer demand with a commerce benefit”.
The Nexxus Global Rewards Community is a cryptocurrency loyalty program that will reward consumers for buying products and services from merchants with cryptocurrency. That is why owners of the GCR Coin believe it will increase in value.
The final development was to be funded by GCR Marketing but was not possible due to the lack of sales. Nexxus University will provide the necessary funding to make the Nexxus Global Rewards Community a reality.
The Nexxus development will include a robust cryptocurrency payment gateway for use by the Nexxus merchant network and the Nexxus University for it’s eventual acceptance of cryptocurrency payments.
The Nexxus Coin will also be supported by the Nexxus Global Rewards Community. We would not have introduced the Nexxus coin except to make good on the stolen GCR Coins from the GCR Marketing online wallets.
Nexxus University will benefit from the many hard lessons learned from GCR Marketing including corrupt management, crooked cryptocurrency programmers, cryptocurrency hackers, wild get-rich-quick marketing agent claims, and U.S. banks and regulators fearful of cryptocurrency.
Cryptocurrency is truly a wild wild west frontier with unique challenges around every corner. Cryptocurrency is mostly a speculative trading activity today. Nexxus is the first company that plans to give people a good reason to buy and use cryptocurrency to get a better deal from the merchant.
Nexxus is not selling coins with wild get-rich-quick promises like many MLM wanna-be coins, but is marketing cryptocurrency knowledge and transactions. If people see a personal benefit in using cryptocurrency then they will buy cryptocurrency. Buyer demand increases price.
Nexxus sees a big opportunity helping people fully understand how to benefit from cryptocurrency for less than $1 a week. Yes, the education is a combination of internally created course content and information available sprinkled throughout the Internet, but only the fringe enthusiasts will track it down and sort through all the data.
The mainstream public needs the information packaged in an easy organized manner to learn from. The first retail product, “Cryptocurrency Fundamentals” certification program is a comprehensive set of courses and final exam for a very reasonable retail price delivered on a professional Learning Management System(LMS).
Other certification programs will follow in cryptocurrency technologies, trading and security. This is priceless knowledge that could help someone fully understand cryptocurrency and not be left behind from the next big technology wave of cryptocurrency.
The mainstream public will not adopt cryptocurrency until they understand it and how they can benefit. Cryptocurrency is here to stay and cannot be stopped.
When more and more people start using it, Nexxus will be marketing cryptocurrency transaction income opportunities similar to credit card processing that makes a small percentage from every sale. Nexxus is the killer app to take cryptocurrency to the mainstream public.
The matter of fact is GCR and Nexxus both have the same owner, i.e. Bob Wood, and both control GCR Coin.
So in effect, there is no difference between the two to the outside. How you organize and name your house is your problem. How you choose to portray the reorganization, however, makes it everybody’s problem.
And Bob… why would any one take your course when they can get an authentic Bitcoin Tech course from authentic Princeton University through authentic Coursera?
coursera.org/course/bitcointech
Bob:
So who are the instructors and their qualifications to be teaching these courses? Oddly not one word on the website about anyone, let alone the instructors teaching these classes.
Rather odd that for someone to be calling themselves an University, not one reference to the instructors who are teaching the courses, don’t you think?
When is the MLM bitcoin niche going to grow up and stop marketing on fearmongering and “ebil gubment” conspiracy theories?
@Wood
Backdoor = hacked. Who did the hacking doesn’t change what it is.
Like “new management”, you can attempt to play wordgames but it won’t do you any good.
You owned and called the shots at GCR Marketing.
You own and call the shots at Nexxus.
Nexxus = GCR Marketing 2.0. Feigning otherwise to try and fend off the SEC isn’t going to get you anywhere.
Case in point, who is deciding on the new GCR Coin developer?
You clearly stated you were doing so on the Nexxus conference call, so regardless of who you install as puppet management, Bob Wood is still very much calling the shots at GCR Marketing 2.0.
The ones that weren’t though, were very much just “units for sale”. These units were invested in on the expectation of a ROI, which is a problem because GCR Marketing was not registered with the SEC to offer securities.
BitCoin is a cryptocurrency, and I’ve yet to hear of a single bank account in the US being shut down because of it.
But no, you’re special Bob and “the banks” are truly worried about an altcoin worth less than peanuts. Keep telling yourself that.
Cmon chief, they shut you down for triggering money laundering figgers. SARs were filed with the SEC and so they’ve come knocking… it’s not rocket science.
…that’s boiler-plate SEC. They send that out to everybody they’re initially investigating. The claim of wrong-doing comes after they conclude GCR Marketing offered unregistered securities.
I really hope Kevin didn’t tell you that. Because the SEC did no such investigation into Vemma. The SEC deal with securities fraud, they aren’t the retail agency (although a lack of retail is evident in most Ponzi schemes).
Cut the crap. Nexxus University is going to focus on “The Nexxus Coin strategy and mission is being carried forward by the Nexxus University to “build real cryptocurrency value by creating buyer demand with a commerce benefit”.
GCR Coin will be ignored and unused, before being forgotten altogether. For all intents and purposes it’s been abandoned. That’s why you’re matching your affiliate’s GCR Coin balances with Nexxus Coins.
Cool. Now riddle me this, why would affiliates pay a fee for the same “cryptocurrency fundamentals” program each month?
If Nexxus adopts the same units disconnected from the actual altcoin implementation, you’re selling unregistered securities Bob.
Is Nexxus University registered with the SEC, or will you not be offering investment to US residents?
@Lynn
I don’t think there’s anyone actually instructing the courses. The courses are just copy and pasted Wikipedia/Investopedia/Xpedia articles.
That much was admitted to on the Nexxus webinar.
The Princeton course is good if you are a techie and want to read a PDF file. The average public consumer needs a better video delivery on the whole cryptocurrency history, solution and implementation at their level.
Me being an owner in both companies does not make the companies the same. GCR Marketing had other owners that started the marketing in 2014 and had their own agendas.
Nexxus University has shed all the old baggage to learn from the GCR Marketing problems. Nexxus has eliminated the get-rich-quick bitcoin story, will ensure trusted developers, will ensure trustworthy managers, has removed the hacker incentive for cryptocurrency, moved to a cryptocurrency-friendly country, created a real retailable product of high demand at a fair price, and has simplified the marketing program to be easy to understand and explain.
The problem with all the MLM wanna-be coins is the marketing hype of how people can buy their coin for pennies and quickly sell them for dollars when they go public. Nexxus has eliminated that problem by not selling coins.
We believe in the huge potential of cryptocurrency and we will help people make money educating others and doing cryptocurrency transactions.
The principles of building value for any publicly traded asset are still true for cryptocurrency. Buyer demand increases price, and people buy if they see a benefit.
You calling the shots in both companies does. Same ownership, same guy deciding everything… yeah no totally not the same.
Are you going to go and run Nexxus Coin from Belize, or do you really think a PO Box registration there will convince the SEC Nexxus isn’t being run out of Texas?
Um… either
1. I pay Nexxus a fee each month and (insert pseudo-compliance) I wind up with Nexxus Coins, ergo you’re selling them (and potentially offering unregistered securities) or
2. I pay Nexxus a fee each month for units and (insert pseudo-compliance) I eventually wind up with Nexxus Coins, ergo you’re offering unregistered securities.
Which is it?
@Bob Wood, who are the company investors as you call them?
This is almost the same bullshit we’ve been hearing since Amway “invented” Quixstar.
Dr. Taylor calls this process “re-pyramiding” (mlm-thetruth.com/summary-of-findings-from-20-years-research-about-mlms) when one MLM changes its name/ compensation plan, with all the usual crap how things are gonna be much better now.
The real reason is to hide MLM’s previous bad reputation, and give it’s owner another chance to start the scam all over again. That’s why MLM’s avoid prosecution over decades – just start a new, with new name, new country and new product.
Wow! You guys are amazing…
Oz, Please go into any bank and tell them you want to setup a bank account to process bitcoins. They will laugh you out the door.
The Internet is loaded with articles on banks shutting down accounts for companies accepting cryptocurrency.
I personally have spoken with the bank managers of over a dozen banks, including Bank of America, Wells Fargo and Chase, and everyone of them said they will not setup accounts for companies associated with cryptocurrency in any way. They even turned us down just because we were teaching cryptocurrency and not even processing cryptocurrency.
The real problem is very clear, and has been identified by all of you, it is with all the MLM wanna-be coin companies selling coins with the promise that they will be able to sell them at a huge profit when they go public.
That is exactly what the initial marketing management of GCR Marketing did before I took over as CEO in 2015. I fought that get-rich-quick message in many emails and video webinars.
Nexxus is absolutely NOT selling coins, Period! Please read the website (NexxusUniversity.com) again if that is not clear to you. No one can buy any coins before going public with the promise of selling them for more when they go public. They will get a specific dollar amount of coins when they are public equal to 10% of their purchase.
We are rebating them 10% of their purchase for them to apply towards the direct purchase of public coins. They are NOT buying pre-public coins for pennies expecting to sell them for dollars post-public.
There is NO hyped up get-rich-quick promise. None whats-so-ever!
So… What exactly is your problem with Nexxus? It is not selling or giving away any coins, so there is no possibility of selling a security.
There is no hyped up get-rich-quick promise for investing in cryptocurrency. There is no Ponzi scheme or scam going on here. There are no expensive packages to purchase.
Affiliates receive all the business and marketing tools and product samples for $10, $25 or $50 monthly. That’s hardly a ripoff scheme.
The change in management was primarily with the marketing that was promoting the get-rich-quick mindset.
Either you just don’t like network marketing or you don’t like cryptocurrency, but everything you’ve complained about, Nexxus is NOT doing.
Cryptocurrency is at the same stage of technology adoption as the personal computer and the Internet were. It has early adoption by techies, but has not and will not move into the mainstream public, until they understand it and they see how to benefit from it.
That is the Nexxus business plan, to help people fully understand how to benefit from cryptocurrency, and to promote cryptocurrency commerce.
The Nexxus Global Rewards Community will support multiple cryptocurrency coins including Bitcoin, GCR Coin and Nexxus Coin. The GCR Coin is not being abandoned, and it is not owned and controlled by anyone except the coin holders themselves. That’s the way real cryptocurrency works.
So, if anyone has some specific questions about the Nexxus business plan I’m open to genuine inquiries.
Banks don’t process BitCoins, exchanges do.
They’d laugh me out the door if I asked them to process Paypal, STP or any other virtual currency. What’s your point?
Cause does not equal effect. Accounts get shut down for money laundering.
But crazy conspiracy theorists see what they want to see.
Or your name change didn’t fool them, and having had closed your accounts for suspicious activity once, they didn’t want anything to do with you.
Hence the shady hook ups in Belize.
So if I deposit funds with Nexxus, you guys don’t give me any coins. No coins through Nexxus regardless of how much money I pay them?
No units that can be converted into coins, no mining tokens yada yada yada… I get absolutely no Nexxus Coins by any means when I deposit funds with Nexxus as an affiliate?
For the record, is that what you’re saying Bob?
Because sure as shit sounds to me like I pay $10 into Nexxus and Nexxus give me $1 worth of Nexxus Coins (scaled).
Who the hell initially owns the “public coins”? Oh right… Nexxus does.
If you the issuer have given up on it, what it’s users are going to keep holding the torch? Cmon chief.
And are you really going to mix 86 million stolen GCR coins with Nexxus Coin and BitCoin through Nexxus? Short of valuing GCR Coin at close to zero (it’s already there isn’t it?), that makes no sense.
It’s clear you haven’t even checked the course. Entire Coursera course is conducted via video lectures with some quizzes and additional reading materials.
Thanks for revealing your true nature.
Oz, are you serious? It is very obvious exactly what I was saying about banks not setting up accounts with any company having anything to do with cryptocurrency.
These accounts were specifically shut down as stated by their bank management for supporting cryptocurrency, not because of any money laundering concerns. That’s just foolishness.
The banks that turned down the University were brand new banks that we never dealt with before. They specifically stated they will not do business with any company that supports cryptocurrency in any way.
No, You do not get any coins, units or tokens from Nexxus before the coin goes public. That is the scam, other companies sell you coins before they go public with the promise that the coins will make them rich when they do go public.
That problem scenario is completed eliminated if you get no coins before it goes public.
When the coin is public they will purchase at the current market price. Again, no get-rich-quick promise here.
For example, if you purchase the $10 Affiliate package and if the coin goes public for $1 then you would get 1 coin when it is public, the current market price. There is no hyped up promise to get rich buying pre-public coins.
Let me restate what as been said multiple times, Nexxus is not abandoning the GCR Coin but is fully supporting it on the Nexxus Global Rewards Community.
No Oz, the GCR Coin is not at zero, but has been steadily rising in price to 1-2 cents, much higher than most cryptocurrency coins. The dumping of the 83M coins is what caused the price drop initially.
Those coins were sold back on the market and are in the hands of legitimate coin holders now. It was a mixed blessing for people that believe in our vision to create buyer demand to build real cryptocurrency value with Nexxus.
I may be wasting my time if the intent on this website is just to criticize without any objective research. I am trying to provide honest information here for your audience, but it is very difficult when comments are loaded with unsubstantiated claims and slanted opinions.
Yeah… and I’m saying you’re already likey on the radar for suspicious activity.
You yourself said you opened accounts only to later have them shut down. This fits the profile of regulatory monitoring.
You don’t think the SEC have investigated / are investigating your banking channels?
I’ll just leave that there. It’ll drop eventually.
You don’t think banks talk to eachother or have access to the same creditcard blacklists?
TelexFree had over ten account shut down from memory. This is a pattern we’ve seen time and time again with questionable schemes.
For example, if you purchase the $10 Affiliate package and if the coin goes public for $1 then you would get 1 coin when it is public.
So blahblahblah, Nexxus initially hold all of the Nexxus Coins and I pay Nexxus $10 and get $1 of Nexxus Coins.
Can the public mine Nexxus Coin or is this a closed mining pool operated by Nexxus?
Where the Nexxus Coins initially come from is important, because if Nexxus is the sole source then how is that not a securities offering?
Chang, I did review the course you suggested. The focus and prerequisites for the course listed below are hardly for the average Joe and Jane.
An introductory computer science class (such as CS 101) is required.
Basic programming experience as well as some knowledge of data structures and algorithms (linked lists, sorting, searching…) are strongly recommended.
Oz, you’re doing a lot of guessing to formulate your responses.
We did nothing wrong or suspicious with any of the banks. We did not move large amounts of money around, most of our money was kept online. Many of the banks supported us for a while until they specifically asked us about cryptocurrency.
TelexFree was shut down as a questionable scheme. We were shut down because we supported cryptocurrency. Why is that so hard for you to understand?
You are not understanding the real problem with the cryptocurrency scams. They promise eventual high public returns on pre-public coin purchases. Nexxus is NOT doing any of that. If we want to give them a 10% credit that they can use to buy public coins at the current market price that is not a scam.
Nexxus is a Proof of Stake (PoS) coin, which has no mining. Coins are distributed to initial coin holders. We selected the GCR Coin holders to receive the vast majority of the initial distribution for free.
All cryptocurrency comes from a single source, the developer of the coin. That is how cryptocurrency works. The free distribution of coins is not a securities offering.
Ethereum did a crowdfunding round and sold millions of dollars of coins to fund its technical development. I guess you could consider that a securities offering, but I don’t see the SEC going after them.
so, if the GCR coin is back on track, why are you launching a new coin nexxus?
the truth is that like every pyramid scheme your recruitment in GCR stalled and so you are starting over again with nexxus.
GCR mining packages had no retail price, so how do you have retail customers? calling non recruiting affiliates ‘retail customers’ is hogwash, and will not fly by the SEC or FTC.
and your affiliates invested hundreds of dollars with you for a slice of the profits that you were going to generate with your cryptocurrency expertise with GCR coin. and now they are stuck with coins valued in pennies?
this is why the SEC is investigating you, and i dont think shutting down GCR marketing and moving offshore will save you.
Ethereum = software platform
Global Coin = not software platform
Analogy = FAILED
Strange, but that doesn’t look like the format or wording of any SEC document I’ve ever seen.
Doing a little bit of (undisclosed) paraphrasing there, Bob ???
Selling unregistered securities units is pretty suspicious.
Because you weren’t selling cryptocurrency, you were selling units detached from the cryptocurrency.
If you were selling a cryptocurrency there’d be no GCR Coins to “make good on”.
Selling units not pegged to anything = a security offering. That’s the only problem relevant here.
How much of the total distribution does Nexxus get?
Right, so Nexxus (you) own 100%. So basically give Nexxus $10 and Nexxus gives me $1 in Nexxus Coin (scaled).
You are selling cryptocoins Bob.
And if Nexxus Coin is truly GCR Coin 2.0, then you’re selling units purportedly attached to coins. Irrespective of this, money into Nexxus in exchange for coins invested in on the hope they will rise in value = a securities offering.
I hope you’ve registered Nexxus with the SEC or are not soliciting investment from US residents.
ethereum is backed by a swiss entity and operates under swiss laws.
the SEC has recently adopted rules that bring crowdfunding under its regulation. crowdfunding as of jan 2016 is now a securities offering, and crowdfunding portals which operate in, or attract investments from US citizens will have to register with the SEC.
if ethereum indulges in crowdfunding from US investors today, it would have to register with the SEC.
One other thing, regarding the whole giving away of Nexxus Coins.
You’re giving them away to GCR Coin/Unit holders. These are investors who have already invested.
Right off the bat Nexxus is giving away securities to existing investors… and you’re going to tell me the banks and SEC are worried about cryptocurrency issues? Please.
Many many things smell very very fishy about all of this Mr. Wood.
So, how many GCR coins do I need to take with me to buy a double espresso ??
1. when nexxus is going to launching ?
2. what is last date for join in gcr members and bittrex members ?
3. when will trading start for sell his gcr coins ?
4. can anyone sell his already purchased coins after new purchase by 10$ on nexxusuniversity.com
5. what is last date for get double coins of gcr in nexxus ?
6. on nexxus launch date per gcr coins will price fixed on 0.45$ ? or it may be decrease ?
okay, I’ll attempt to address the “objective” comments…
Oz, there are no coins being sold. Join Nexxus and you get no pre-public coins and you get no promise, tokens or units for a specific number of coins. They can buy public coins on the public market with their money. Giving away free coins is not selling a security.
Anjali, I explained earlier, Nexxus coins were created to honor the stolen coins from the online wallet. Those were real coins on the blockchain that were stolen by a contract programmer (not a hacker). The Mining service did have a retail price?
Customers ordered on the form checking the retail customer check box. Customers bought mining services on the hyped up promise that they could mine them for pennies and cash them in for dollars when they went public.
Yo, if you have a specific question, ask it. generalities contribute nothing constructive.
Littleroundman, Ethereum is the developer of a coin called Ether, which they sold for millions of dollars. how many letters and phone calls have you received from the SEC?
prabhat, thank you for your honest questions. Nexxus University prelaunched last week and will probably launch in February. The Nexxus Coin will go live in a few weeks based on our selection of a new “trusted” developer. And it will probably go public within weeks after that on a selected public exchange.
Your GCR Coins and Nexxus coins can be bought and sold on the public market, not through Nexxus. The Nexxus coin has no guaranteed price. All real cryptocurrency coin prices are determined by the buyers and sellers.
Nonsense.
From the Ethereum website:
this is what the nexxus university website says:
so, of course nexxus is giving a promise of specific number of coins according to the package purchased, and also specifying a base rate of $0.01.
so what happens if the nexxus coin goes public and starts below $0.01?
will you then create a ‘new’ coin to replace the nexxus coin, to make good your investors again?
what was the retail price?
was the only difference between customers and affiliates – a check box on a form ?!!
what happened when a ‘customer’ decided to recruit? did he have to ‘uncheck’ the check box?
haha, this is so sillybutt crazy.
YOU were the CEO of GCR since feb 2015. YOU were running around the world with linda helin and the rest of your pack, selling your mining packages to the public, with spiels of creating a valuable cryptocurrency.
now that GCR coin is at 1 penny, you cannot sell your expensive mining packages anymore, so you have shifted to nexxus under the garb of cryptocurrency education.
you suddenly want to educate the public about cryptocurrency because your GCR coin fell apart and the SEC came knocking. this is the truth, no matter how you drape it in cryptocurrency shoptalk and bigtalk.
i am already looking forward to your excuses for nexxus, and a brand new offering from you in 2017.
I did have a question which you ignored.
Bob Wood on your GCR news site (GCR.News) you mention The exclusive commerce benefit is delivered by a technology platform called Nexxus the Global Rewards Community that offers consumers a cash/coin back reward when they pay with cryptocurrency, including bitcoin and GCR coin.
Can you please explain this?
Also from what I see on your site news, GCR 2.0 is going ahead with the coffee and ATM deals,is that correct?
Well, unless you were a GCR marketing investor. Then when you sign up with Nexxus you get coins/units = to your prior unit investment balance.
Not the units, they weren’t real coins. You affiliates held worthless units while you kept the real coins in the “company account”.
If the affiliates themselves had the real coins the hacker wouldn’t have been able to make off with them on such a large scale. You’d also have no obligation to “make things right”.
At the end of the day I sign up as a Nexxus affiliate, pay $x and Nexxus give me $x/10 worth of Nexxus Coins (Nexxus own all the initial coins, they are the seller). You haven’t elaborated whether theses are units or actual coins.
Regardless, it’s still a securities offering as money is being invested on the expectation of a future profit based on the work of others.
1. what shall be per coins value of gcr in nexxus launching day ?
Sure makes you wonder who might be the guilty one here when Woody first has problems with Anthony, then with Jason in Boston,etc.
He is now working on the 4th generation coin. What a joke. This Mate needs to look at the real happenings.
Bill Rojas you are the prblem in GCr, scammer.
Is Linda Helin still involved in this?
1. how many gcr coins will be double in nexxus coins and what shall be last date for get double coins in nexxus coins?
Did changing the name really solve the problems or just create new ones?
A coin with no value or systems in place for people to use it.
Put this in the pile with the rest of the useless ponzi coins.
2 x 0 still = 0
1. if i purchase gcr coins from bittrex.com up to 1st march2016 then those coins shall be exchange or not in nexxus coins if i have already register nexxus before launching ?
Not sure if the company will take your third-party GCR coins. Doubt it.
Bob is a traitor, he has left many people, especially Latin, Spanish or Portuguese section.
It has set dates to change currencies but many people are lost with the keys, purses and need guidance. For it is not important.
well, i was an affiliate member with GCR Coin, they were back in these days offering even to back up the coin value with gold once it was going public.
And like this many other lies, and more lies, and lies, everything was just to get people to sign in to this scam. Now, when this is obviously a scam that has been exposed to the public and the coin is worthless and nothing that was prommised was delivered.
Now this people wants to make you belive that they care. i just got off the phone with Kelly Killian, who is just another known scamer in North Carolina, and she hung up on me when i started with real questions that were making her feel unconfortable, legal questions regarding my investment…
So, bob, here´s a question a some one who was a DIAMOND member in your ponzi scheme… can i just get my money back instead of all this bullshit or just accepted man, you just have ripped us off with this scam, now that you have our money, no longer care about it…
Just accept it out loud you are a scammer and a shameless one, who insists in persuing others people money without giving them nothing in exchange… cause there is nothing but my money back that you can offer to me that i really want from you or any of your scams…
There were mlm people like the one who signed me in to this, Vicente Luz from Miami Florida, this guy claims to be an investment guru but is just a scamer that uses mlm industry to take advange to the less educated…
Go, Oz, go! A rewiew about Sarcoin /Poolminers, by Sasa Y Ruben, another mlm. just like GCR.
Someone requested a Poolminers review a few months ago from memory.
No comp plan on the website and/or not in English.
Comp plan in English
drive.google.com/file/d/0B1DSMdjeIkxNd1RlanppS2VMQzA/view?pref=2&pli=1
That I can work with. Leave it with me.
Poolminers/Sarcoin sells a debit card for sarcoin and bitcoin braded by Visa . How can they do it?
Same way OneCoin did it with Mastercard. Find a dodgy merchant and go from there…
And does Visa know that is branding sarcoin?
You’d have to ask them.
Hitler`s Reaction when he found out Bob Wood failed his responsibilities and lost all his coins…
youtu.be/NWl_VjJdvj0
I asked from the provider of VISA debit card has no idea about the busienss of sarcoin 😀 and looks like sarcoin mlm stole old members of gcrcoin.
Simple. Pay Wavecrest and white label a debit card. Anyone can do it.
I doubt it. If they knew then Ruben and Sasa would be in jail by now.
Good job Oz. Thanks to you, criminals are trying to hide their operations. Their alarms are sounding off now .
Is GCR coin still operating in any form now?
It’s dead, but it won’t lie down.
The “swap” into Coinxion never happened (well I never) but has now morphed into a swap for “TREOS” which will be tied in value to one gram of gold i.e. ~$40….
This naturally facilitated a P&D in GCR from $0.05 to $0.37 and back to $0.14 over the last few weeks.
Anyone thinking that this may be (gasp) a scam, should be reassured of the humanitarian motivations of the Spiteris, as show in this example from the Treos BCTalk thread:
Refs:
twitter.com/Br0wnmoose/status/1052911401193414657
bitcointalk.org/index.php?topic=4943488.20
We will see if the Malta financial authority give them the stamp of approval.
This will add all of the legitimacy required, and subsequently a full launch of the platform. Remember no one is forcing you to buy GCR.
Regulators don’t approve companies.
The issue is legality (unregistered securities), not whether or not anyone is forcing you buy something. Nice strawman but.
Stamp of approval is a saying.
And totally irrelevant to the discussion.
So is “pigs might fly”. What’s your point?