Global Currency Reserve Review: $2999.95 a month mining?
Back when we first reviewed Global Coin Reserve, it was little more than a continuation of Robert Corriveau’s previous matrix-based recruitment schemes.
That was back in September 2014. What with Corriveau ousted earlier this year, rumblings of the GCR coin launching and a name change to Global Currency Reserve, we figured it was time to revisit the GCR opportunity.
The Company
Details surrounding Robert Corriveau’s departure from Global Coin Reserve remain sketchy.
Six days after BehindMLM’s Global Coin Reserve review, Corriveau gushed about his recently launched opportunity:
Global Coin Reserve. Yes I am the CEO and owner of this company too.
I started this company to hopefully help people better understand cryptocurrency and everything it has to offer. At the same time, I hope to build a new cryptocurrency called GCR Coin.
I only want to help as many people as I CAN to better understand this market, and HOPE to profit from this amazing world.
February 2015 saw Corriveau depart GCR, and nobody seems to know why.
Global Coin Reserve themselves swept the matter under the carpet, scrubbing Corriveau’s name from the GCR website and listing Robert Wood (right) as CEO.
Wood, who usually goes by Bob, first appeared on BehindMLM’s radar as the President of CloudZow in 2012, and Chief Technical Officer of Zazzed in 2013.
Both opportunities primarily focused on recruitment of new affiliates (CloudZow did have a token retail offering), with both having since shut down.
Wood taking over as the head of Global Coin Reserve is all very well, but a lack of disclosure regarding Corriveau’s abrupt departure continue to cast a shadow over the opportunity.
As to the name change. In Wood’s updates to affiliates he signs off as the CEO of Global Currency Reserve, but the GCR website and marketing material are yet to reflect the change.
The Global Currency Reserve Product Line
Global Currency Reserve now has no retailable products or services, with affiliates only able to market affiliate membership to the company itself.
Once signed up Global Currency Reserve affiliates are given access to “wealth builder tools”, which GCR claims “can help you”
– Maximize Tax Deductions With Our Estimator Tool
– All Your Home Business Expenses
– Reduce Your Personal And Business Debt
– Repair Your Credit Regardless Of Condition
– Also Includes A Full Financial Education Library
Affiliates can only pay for GCR coins (mining), however at the time of publication the GCR Coin cryptocurrency has yet to launch.
The Global Currency Reserve Compensation Plan
Previously GCR affiliates purchased $69.95 to $299.95 a month matrix position subscriptions, with direct and residual commissions paid out via a 2×15 matrix.
A $29.95 direct recruitment commissions only option was also available.
The core of the Global Coin Reserve compensation plan has remained intact, however GCR coin mining is now being advertised and the upper limit of affiliate membership is $2999.95 a month.
That’s not a typo… a top-tier GCR affiliate position will cost you almost three thousand dollars a month.
- Free (replaced previous $29.95 membership) – direct recruitment commissions only, no MLM
- Bronze – $69.95 a month
- Silver – $149.95 a month
- Gold – $299.95 a month
- Prospector – $999.95 a month
- Claim Staker – $2999.95 a month
Update 7th July 2015 – Bob Wood has informed us that the Prospector ($999.95) and Claim Staker ($2999.95) affiliate positions are no longer available (see comment #7 at the end of this review). /end update
The above monthly affiliate fees are what drive commissions in Global Currency Reserve, paid out as follows:
Global Currency Reserve Affiliate Ranks
There are eight affiliate ranks within the Global Currency Reserve compensation plan.
Along with their respective qualification criteria, they are as follows:
- Bronze – purchase Bronze affiliate membership ($69.95 a month)
- Silver – purchase Silver affiliate membership ($149.95 a month) or recruit two Bronze or higher affiliates
- Gold – purchase Gold, Prospector or Claim Staker affiliate membership ($299.95 – $2999.95 a month) or recruit two Silver or higher affiliates
- Diamond – recruit two Gold or higher ranked affiliates
- Double Diamond – recruit five Diamond or higher ranked affiliates
- Triple Diamond – recruit seven Double Diamond or higher ranked affiliates
- Platinum – recruit ten Triple Diamond or higher ranked affiliates
- Palladium – recruit fifteen Platinum or higher ranked affiliates
Direct Recruitment Commission
GCR affiliates are paid to recruit new GCR affiliates, with a flat-rate 5-10% commission paid out on initial affiliate membership fees paid:
- Free GCR affiliates earn a 5% commission
- Bronze or higher affiliates (anyone who pays a monthly fee) earn 10%
Bonus Recruitment Commission (Leadership Bonus)
In addition to the 5-10% direct recruitment commission paid out, GCR also offer up to 35% in additional bonuses.
These bonus commissions are paid out pro-rata to Diamond (20%), Double Diamond (10%) and Triple Diamond (5%) ranked affiliates.
If an affiliate ranked lower than Diamond recruits a new fee-paying affiliate, the system searches their upline for a Diamond or higher ranked affiliate.
If a Diamond affiliate is found, the system pays out a 20% bonus and continues to search for a Double or Triple Diamond affiliate.
If a Double Diamond is found, the system pays out 10% and looks higher for a Triple Diamond to pay the remaining 5% to.
If a Double Diamond is the first ranked affiliate found, they are paid 30% and the system searches for a Triple Diamond to pay the remaining 5% to.
If a Triple Diamond is the first ranked affiliate found, they are paid the full 35% bonus commission.
Matching Bonus
A 25% matching bonus is available on Leadership Bonus earnings, payable down four levels of recruitment (unilevel):
- Gold – 25% match on level 1 (personally recruited affiliates)
- Diamond – 25% match on levels 1 and 2
- Double Diamond – 25% match on levels 1 to 3
- Triple Diamond – 25% match on levels 1 to 4
Residual Commissions
Affiliate fees in GCR are monthly, with payment of fees each month attracting a residual commission.
Global Currency Reserve pay residual commissions via an expandable 2×15 matrix structure, similar to that used in the previous compensation plan.
A 2×15 matrix places an affiliate at the top of the matrix, with two positions directly under them (level 1):
The second level of the matrix is generated by splitting each of the level 1 positions into two new positions, resulting in four positions on level 2.
Level 3 and subsequent levels of the matrix are generated in the same manner, with each level holding double the positions of the previous.
Capped at 15 levels, a 5% commission is paid on the monthly fees each affiliate in the matrix pays.
Note that how many levels of the matrix a GCR affiliate can earn on, is determined by their affiliate rank:
- Bronze – 4 levels
- Silver – 6 levels
- Gold – 8 levels
- Diamond – 10 levels
- Double Diamond – 12 levels
- Triple Diamond – 15 levels
Being an expandable matrix, a new position is created on level 1 each time all positions are filled down four levels in the previous level 1 positions.
Ie. Each 2×15 matrix starts with two positions on level 1, four positions on level 2, eight positions on level 3 and sixteen positions on level 4. Once all of those positions are filled, a new position is created on level 1.
Once four levels of that newly created position are filled, a new position is again created on level 1 and so on and so forth.
Executive Bonus
The Executive Bonus allows an appropriately ranked GCR affiliate to earn a cut of every newly recruited affiliate’s first fees.
- Platinum ranked affiliates earn a 2% bonus on all newly recruited affiliates in their downline, up to the first found Platinum ranked affiliate in any given leg
- Palladium ranked affiliates earn a 2% bonus on all newly recruited affiliates in their downline, up to the first found Palladium ranked affiliate in any given leg
Joining Global Currency Reserve
Affiliate membership with Global Currency Reserve is available at six price-points:
- Free – no cost but no MLM commissions
- Bronze – $69.95 a month
- Silver – $149.95 a month
- Gold – $299.95 a month
- Prospector – $999.95 a month
- Claim Staker – $2999.95 a month
The primary difference between these memberships is income potential through the GCR compensation plan (see above).
Conclusion
I can’t start this conclusion without noting that Global Coin Reserve was first launched a year ago in July 2014.
GCR Coin still hasn’t launched, begging the question what exactly have affiliates been paying for this past year?
With nothing attached to the opportunity, that GCR have been operating a recruitment-driven pyramid scheme over the past year is blatantly obvious.
Now with GCR Coin purportedly on the horizon, one still has to ask what exactly are GCR affiliates paying for?
The affiliate membership packs discussed in this review are openly advertised on the Global Currency Reserve website (I proceeded to the “buy now” page but didn’t have an affiliate referral link).
If I can hand over nearly three grand to GCR for GCR Coin mining, but the coin hasn’t even launched yet, what on Earth am I paying for each month?
As to the status of the GCR Coin, an update sent out by Bob Wood on June 28th sheds some light on the matter:
The waiting is nerve racking for all of us. We are so close to showing everyone the new coin.
It is running on the test servers and has been moved over to the production servers. The engineers are finalizing all the IP addresses and port settings so we can load your new wallets with your existing coins and do more external security testing.
I am directing the efforts of 4 engineers and 2 of them are contractors. I can only push them so hard. I’m trying every creative thing I can think of to motivate them to finish quicker.
I feel like we are very very close, I have been working 16 hours a day, 7 days a week, but I can’t announce an exact time yet.
The coin itself?
he first issue is with some people’s expectations of the price of the GCR coin when it goes public and is tradeable for other crypocurrencies, which can then be traded for local fiat currencies.
I have heard many false rumors about the price of the GCR coin.
The GCR Coin will NOT open at $5 to $10+ dollars the first day on the market, and it will not reach the price of bitcoin anytime in the near future.
Bitcoin has taken 6 years to establish it’s (sic) current price and in the process of doing so has already experienced 4 big crashes.
GCR is NOT a get rich quick scheme. You will NOT become a millionaire on the public opening day.
There is a real opportunity, but it is in the long-term value building that we will be doing by following sound business principles of creating buyer demand by giving people a good reason to buy and use our currency.
Buyer demand is the only thing that will increase the price. And buyers will only buy if they receive a benefit from doing so and if they have confidence in the management to continue to build real value into the future.
The two takeaways from Wood’s comment above is that GCR Coin will only be exchangeable for “other cryptocurrencies”, and the acknowledgement that “buyers (of GCR Coin) will only buy if they receive a benefit from doing so”.
The first point is important because it means GCR Coin will not be sellable for cash. Yet through the GCR MLM opportunity, affiliates are handing over cash to mine the coin – with the end result being a specific number of coins purchased from month to month.
Real money goes into GCR for GCR Coin mining, but only comes out the other end by way of recruitment commissions and monthly fee payments – both of which have nothing to do with the value, perceived or otherwise, of GCR Coin.
Furthermore, with a large chunk of affiliate fees being paid out as recruitment commissions and no pegged dollar amount (GCR Coin cannot directly be exchanged for cash), how exactly is GCR Coin going to be exchanged for other cryptocurrencies?
Who on Earth is going to trade a cryptocurrency with a tradeable dollar value for GCR Coins???
The handing over of affiliate fees for GCR Mining is problematic in itself, due to the increasing time required to mine cryptocurrencies over time.
Simply put, GCR Coin start up their script and over time more and more computing power is required to generate (mine) coins.
Yet GCR Coin’s affiliate membership tiers offer a fixed mining capacity each month (up to 12 million hashes a second at the Claim Staker level).
Practically speaking, I pay $2999.95 a month for my coins this month, and in six months time the same $2999.95 is going to see me receive less coins. And that’s only going to get worse over time.
Meanwhile I can’t buy the coins elsewhere, with affiliates only able to sell them for various other crypto currencies.
And should non-affiliates be able to one day purchase GCR Coins, what will that mean for GCR Coin’s affiliate mining?
Seeing as the mining constitute affiliate fees and the entire GCR Coin MLM business opportunity, If I can all of sudden buy GCR Coins cheaper than what’s being mined each month through GCR, what happens to the opportunity?
I noted the mention of Thompson Burton in Global Currency Reserve’s official business presentation. We reached out to the firm and were told by Kevin Thompson:
I have recently been re-engaged by the GCR team two weeks ago. Due to the attorney-client privilege, I’m not able to share any of my opinions about their program.
I do not endorse them, which is a consistent approach I take with all of my other clients.
As I’ve made clear on my site, people should not view my representation of a client as an endorsement. With all of that being said,
I’m hopeful that once the GCR coin is open-sourced, other mining services will spring up and create a competitive environment for mining services.
Personally I didn’t see any mention of GCR Coin being open-source or talk of non-GCR mining services being offered in my own research.
The second takeaway from Wood’s update above was “buyers will only buy if they receive a benefit from doing so”.
This is important from a securities standpoint, as affiliates are dumping a fixed amount of money into GCR each month, on the expectation of a greater than 100% ROI paid out via GCR Coins, or “benefit” as Wood puts it.
Real affiliate funds enter the scheme, and through the efforts of others (mining), a ROI is realized. Whether or not GCR Coin ultimately crashes or not is irrelevant, as this is what is being marketed to prospective Global Currency Reserve affiliates today.
Nowhere on the Global Currency Reserve website, nor in their business presentation or compensation plan documentation does the company acknowledge having registered themselves with SEC.
Personally I think it’s pretty clear-cut that the mining packages (affiliate fees) Global Currency Reserve are offering constitute a securities offering.
Moving onto the finer points of the GCR compensation plan, the first glaring issue is the lack of retail. Nothing is being marketed to or sold to retail customers.
Previously the “wealth building tools” were available, but let’s face it – some token $20 or so is going to be absolutely dwarfed by the money deposited via affiliate packages.
As such chain recruitment is entirely possible within GCR, with Global Currency Reserve affiliates signing up, paying an ongoing monthly fee and then setting about recruiting others who do the same.
Then there’s the clear-cut examples of “pay to play that exist within the plan itself. Not only can affiliate ranks be purchased, but also how much an affiliate spends each month directly impacts their income potential (matrix levels and the matching bonus).
As it stands the only value pegged to the GCR Coin (which doesn’t exist yet), is the ongoing recruitment of Global Currency Reserve affiliates and their continued monthly payments.
This money is converted into GCR Coin points, which are then supposed to be tradeable for other cryptocurrencies – but not actual cash.
Throw in pay to play and recruitment commissions… and I don’t see any of this ending well.
Translation: my cryptocurrency is worth nothing… unless you put your money in. So it’s a bit of catch-22, you see… the only way you can get some GAINS on your investment is if you encourage OTHER people to put MORE money in.
Why does GCR affiliates say that the coin is now live?
Bugger what they’re saying, get them to prove it and we’ll go from there.
After much research and discussions with the owners, I did decide to participate in GCR’s program.
One point that was not mentioned is that there is no requirement to pay monthly (no “autoship” required). It is entirely up to the affiliate to chose whether to partake in the mining pool monthly and it is up to them as to which level to participate (the level can be changed monthly if desired).
If they don’t participate for a month, they do not lose their position or their coins.
Unlike MOST other companies in this space, I have found Bob (previous top Microsoft executive) and the team to be very open and transparent. They have kept everyone aware with emails to the field every few days.
Over the past few months, they have informed the field that there have been issues with upgrades and enhanced security that have pushed the launch date back, but GCR has worked hard to rectify and upgrade the systems to provide for a better product/service and a better experience for those involved.
They also have some MAJOR marketing objectives in place to teach, inform and expose the public to the benefits of cryptocurrency, which all helps in creating value for the coin.
Exchange may be light on the first day it hits the exchanges, but as you stated, it will be interchangeable with other cryptocurrencies, which then can be converted to cash if so desired. BUT the entire concept of cryptocurrency is to get away from cash!
We NEVER see the words “startup” or Pre-lauch” legitimately mixed with the word “guarantee”. So, there is always the risk of not having a “perfect business, but this team seems to really care about the field and is doing everything to keep the business moving forward and doing the right things.
No obligation, no quotas, no pressure and the chance to be part of an exploding trend and participate in the future of “money”, without having to buy worthless products that stack up in my garage while trying to push it on my friends and family…..is a refreshing, welcomed opportunity in my book that anyone can participate in for FREE or as little as $70… only one time if they really want and own a piece of the cryptocurrency future!
I know you feel this one “may not end well”, but I have seen how Bob and the team (especially Linda, the CMO) really are devoted to making this company a success.
After all, it is not “whether” problems and obstacles will arise, it is always “when”. And more importantly, it is how the company reacts, adapts and grows stronger. I have seen these qualities in GCR.
Thank you for the this review and all others over the years. You have become a guiding light to help the public review their options for new opportunities.
Thanks for the support Barry. The optional autoship is worth noting, but doesn’t change the fact that commissions are only paid out on affiliate fees.
Also if you don’t pay monthly fees, do you still earn MLM commissions for that month?
So what happened with Corriveau?
Bob Wood was never a Microsoft Executive. According to his LinkedIn profile he was a consultant for them.
Thanks, Oz, for the fair review. I’m Bob Wood, the current CEO of GCR as of January 2015, and I’m thankful for the opportunity to clarify some information for your readers.
I was employed by Microsoft as a Senior Developer in the Microsoft Consulting Services division in the early to mid-90s.
I’ve owned a direct sales consulting company named Pinnacle Institute since 2004 providing technology, business and marketing consulting and systems with my staff for over 30 network marketing companies.
I’m a technology entrepreneur and have started many companies including CloudZow in 2011 that marketed cloud-based data backup services. I sold that company to my partner who kept CloudZow running for about another year, while I pursued other projects.
Zazzed was a client of mine that marketed gas additive products, and ceased doing business when the owner, Bob Moore, died of a heart attack.
I was first approached near the beginning of 2014 to partner with GCR to provide technology, business and marketing services and systems.
My close involvement and education of cryptocurrency convinced me that there was a real opportunity to build a solid business model on top of the cryptocurrency technology.
Regarding Robert Corriveau’s departure from GCR, Rob accepted a buyout offer from the company to step down from GCR relinquishing his CEO title, ownership equity, and position in the marketing plan for an undisclosed sum of money and keeping his accumulated GCR coins from his personal mining orders.
The buyout agreement drafted by our attorney, Kevin Thompson, and executed by myself and Robert Corriveau binds all involved parties from any disclosure of details. The spirit of the agreement was to protect the best interests of the members.
The company launched on July 3rd, 2014 as Global Coin Reserve and is undergoing a name change to Global Currency Reserve per the advice of our branding consultant to position GCR as a global currency much bigger than just another “coin” in the crowded cryptocurrency space.
The GCR affiliate opportunity is always free to join allowing free affiliates to earn 5% sales commissions on their retail sales without having to make any purchase themselves.
GCR markets cloud-based mining services similar to many other online cryptocurrency mining services for purchase. GCR does not sell coins and gives no guarantees of the number of coins our customers might yield from the mining service.
Many of our customers are purchasing retail mining services to acquire cryptocurrency coins with no interest in recruiting others.
Of course there are additional income opportunities for those who desire to build sales teams and be compensated in a multilevel structure for the retail sales of our services.
All cryptocurrency is highly speculative and there is no guarantee that any of the cryptocurrency coins including GCR will be worth anything. Almost all cryptocurrency coin alternatives to bitcoin are speculatively traded. They have no real utility demand – no good reason to buy and use the coin.
The current practice in the industry is to hype up the potential value of a coin to get others to pay more than you did. That’s the ugly truth behind cryptocurrency. But it doesn’t have to be that way, if done right, a cryptocurrency coin can provide a good reason for people to buy and use a coin to receive a commerce benefit from merchants that they wouldn’t otherwise receive using cash or credit cards.
That’s the mission of GCR, to build real cryptocurrency value by creating buyer demand with an exclusive commerce benefit.
That is where the Nexxus Global Rewards Community comes in to deliver that exclusive commerce benefit to any consumer that pays with accepted cryptocurrency including bitcoins and eventually GCR when it becomes a viable option as a publicly traded cryptocurrency.
It is the first convergence of cryptocurrency technology and shared loyalty technology. Nexxus will give consumers a better deal from the merchants when they pay with cryptocurrency.
When I speak of delivering a “Benefit”, I’m talking about the consumer’s commerce benefit from the merchant, rather than over-hyped speculative trading. Nexxus is another good example of how GCR Marketing provides financial incentives to its agents to promote the use of the GCR currency.
As a measure of business responsibility in the highly speculative arena of cryptocurrency and the emotionally charged space of network marketing, GCR recently announced the discontinuation of its high-end mining packages being sold during its prelaunch, to focus on the conservatively priced mining packages from $69.95 to $299.95 as it moves into full production and public trading.
I greatly appreciate your posting of our continual disclaimer warnings to our field representatives. As you know, some representatives tend to embellish the story and have been very taxing on our GCR compliance department.
As we prepare for the GCR coin to appear on the public exchanges soon, we are answering the two big questions that every public exchange asks; is the coin real and is there a market for the coin.
To address the later, network marketing provides a unique way of rapidly building a dedicated and leveraged marketing force to promote a coin. All the MLM cryptocurrencies are the envy of the industry where techies struggle to attract people to their coin.
Regarding being a real coin, the entire premise behind cryptocurrency defined back in 2009 was “The people’s money”, that could be used by anyone, anywhere, at any time with no fees and no central authority (i.e. government or company) controlling the currency.
If a cryptocurrency can do this with a real decentralized network that replaces the central authority to verify transactions with technology and cryptography, and preserve all the precepts of the people’s money, then it is a real cryptocurrency.
Unfortunately, because of the current early adoption stage of cryptocurrency, many people are fooled by company controlled virtual currencies masquerading as real cryptocurrency.
GCR is a real cryptocurrency with a decentralized network with two master nodes to verify transactions utilizing the “Proof of Stake” protocol. Anyone can own GCR cryptocurrency and can use it anytime and anywhere with no fees and no central authority.
All cryptocurrencies start on the public exchanges as a trading pair with bitcoin, which can be immediately traded to virtually any fiat currency if desired.
Some, as seen on the public exchange Cryptsy, eventually get paired up for trading directly to fiat currencies. GCR anticipates being directly traded with fiat currencies on many exchanges, but it must first walk before it runs.
Hopefully this answers some questions in people’s minds and clarifies some misunderstandings. We have faced many challenges as a management team and will continue to do so. The success of a company is based on how well it adapts to market pressures in the process of executing its mission.
Thanks again, OZ, for your review and the opportunity to be heard.
–Bob Wood
when do you presume GCR will become a publicly traded cryptocurrency?
with you indepth study in cryptocurrencies, could you inform us about a few MLM cryptocurrencies, which are traded on a public platform?
around october 2014, GCR reps were posting that the value of GCR cryptocurrency is at 42 cents.
how did GCR arrive at this value without being traded anywhere?
i read that GCR tried to get itself traded on cryptsy around feb,2015, but got rejected?
i mean, if cryptsy had rejected GCR for not having enough market share and all, it would have been understandable.
but, ‘suspected scam’???
what’s that about, bob wood?
is it true there were only 800 active members in GCR, which is why you were brought in to replace Robert Corriveau.
really bob wood, with 800 ‘mining members’ you wanted to take over the cryptocurrency world!
bob wood, you and linda helin were in india in june 2015, roping in our ponzi crowd. you really ought to launch GCR on a public exchange now, because you cannot spend all your time just collecting more and more investments.
have you heard about badbitcoin.org? this is how they describe themselves:
guess what? on 29 june, 2015, badbitcoin added GCR to its scam alert list:
please comment on cryptsy and badbitcoin, mr bob wood. why are they being mean to GCR?
please don’t give us marketing spiels, give us answers.
Hey Bob, thanks for stopping by.
That’s a bit more than we knew previously, with a strong inferrence that Corriveau then was not acting in the best interests of GCR members (whatever that entailed).
Anyway if there’s an NDA in there then we’ll leave it at “Corriveau wasn’t acting in the best interest of members so we got rid of him”.
Here’s my problem with this:
You’re not selling growing time in an orchard which may or may not bear fruit. You’re selling computing power attached to specific algorithms that solve puzzles in a relatively predictable sequence.
I pump money into GCR, you give me coins each month. If you shipped the mining equipment out to me and rented it, perhaps you could say you don’t sell coins, otherwise that’s exactly what affiliates are getting for their money.
And how long do you think it’ll be before we see advertising calculating coin averages from month to month, with it coming implied guarantees of “$x in monthly fees for y amount of coins”?
If I was able to mine GCR Coin myself as non-affiliate, only then could you truly argue you are indeed selling a mining service. As long as GCR are the sole source of GCR Coins however, it is the coins themselves you are selling – however many are generated each month.
Specifically, what coins would those be? Pretty much every MLM cryptocurrency opportunity I’ve reviewed has been a rehash of the Zeek Ponzi points model. Yours hasn’t launched yet but I’m not seeing why it’d be any different (until it is truly publicly mineable).
If I can spend GCR “anywhere” as a non-affiliate, why would I care about any one particular rewards community?
Mining cryptocurrency is bull****, and I do not say this lightly or in jest. That is the opinion one of the top Bitcoin experts.
NOLINK://www.cryptocoinsnews.com/gavin-andresen-suspects-ponzi-schemes-bitcoin-cloud-mining/
Obviously, there may be some stuff left to mine in the altcoins, but those are worth far less so the yield there should even out.
So where does that leave your business?
well, cryptsy dumped you.
then a new suspicious exchange with a bad reputation, called HitBtc, listed GCR for public voting, and the coin was supposed to go live in the first week of june.
we are in july now, so what happened between hitbtc and GCR? you haven’t got enough votes?
Hi anjali,
Many good questions, let me answer them for you.
GCR is currently live and is providing the necessary information for 2 major public exchanges for going public.
We have personal relationships with these public exchanges through our cryptocurrency consultant, who has already brought another “Proof of Stake”, Ruby coin public on both exchanges. The process is subject to their schedule, but we do not anticipate any long delays.
PayCoin is an MLM cryptocurrency coin that is a top coin trading on Cryptsy for USD and bitcoins.
The prices of the GCR coin last year around October were posted by the old management and the old cryptocurrency consultant, and was removed immediately at my request. This information was misleading and incorrect.
We attempted to get listed on Cryptsy, but could not establish any relationship with them for reasons we do not know. Cryptsy will not reply to any of our communications.
We only have seen claims of “suspected scam”, but have not received any information from Cryptsy, nor has Cryptsy ever attempted to contact the company for verification.
GCR has over 11,000 mining accounts. I anticipate this number to expand greatly after GCR is publicly trading and puts to rest any concerns as to whether GCR is a real cryptocurrency.
GCR markets its services through an independent network marketing sale force that is compensated for selling our retail mining services.
Our compliance department is constantly monitoring and responding to the wild inaccurate claims made by the field. I personally post disclaimer notices to the field in an attempt to educate them on the reality of GCR specifically and cryptocurrency in general.
It is not a surprise that industry companies and watchdog organizations have also heard the unbelievable get-rich-quick claims being made by many “recruiters” in the field.
This is an unfortunate reality of all network marketing companies, which must act responsibly and enforce their policies and procedures against these kinds of industry damaging behaviors.
I hope this helps, anjali, clear up some of the confusion.
–Bob Wood
Hi Oz,
Let’s just leave your perception of Rob Corriveau’s departure as is, due to legal constraints.
Cloud-based mining services are an industry-wide practice for many different alt coins. Many online (non-mlm) companies are taking cash for mining services and delivering coins to the customers.
You are right that this is highly speculative, but not a scam. Like us, they are delivering real cryptocurrency coins that are of interest to non-risk-adverse customers.
All alt coins are being purchased speculatively with hopes that they will be worth more later, not unlike many foreign exchange currencies. By-The-Way, our strategy is not to promote speculative trading, but to establish a real value builder behind GCR.
The mining services are not the long-term strategic product offering of GCR. They are only temporary services to establish the initial distribution required by all Proof of Stake coins. They will go away and be replaced with other services that promote buyer demand, like Nexxus.
I’ve had the opportunity to meet with several cryptocurrency experts and share with them our business model. They are not mlm people, but they appreciate the power of our leveraged marketing force to promote the coin, but more importantly, they are very impressed with our business model to bring the mainstream public to cryptocurrency by giving them a good reason to buy and use cryptocurrency for a commerce benefit.
Many of them have said that GCR is the first company they have seen in the industry that is building a solid business model on top of the cryptocurrency technology.
PayCoin is an “MLM” coin publicly traded on Cryptsy for bitcoins and USD. They have no “points”, nor do we. The so-called “points” or “tokens” are common with fake coins pretending to be cryptocurrency, but by their own admission will never be listed on any public exchange.
The GCR coin is open right now for public mining, or minting as they call it for a Proof Of Stake coins.
The decentralized network is currently running on the Internet including 2 master nodes for wallet synchronization. The GCR coin is live and is real. A live and real coin is the first prerequisite for being listed on the public exchanges, which is what I am working on now.
Many merchants today accept bitcoins, but Nexxus will put a financial incentive behind a solid business model that will give consumers a better deal if they pay with bitcoins and eventually GCR.
The GCR coin is not owned or governed by the GCR Marketing company. The GCR foundation is the governing body of industry and business experts to make future enhancements to GCR.
No MLM networkers are on the GCR foundation. GCR Marketing is a marketing partner that is financially incented to promote the development of the GCR coin.
Thanks Oz, It’s great visiting with you.
Offering this in an MLM opportunity, IMO, is just asking for an SEC shutdown.
You’re clearly offering a security, in that affiliates are handing over funds on the expectation of a greater than 100% ROI generated through passive effort.
The value is speculative, and has nothing to do with the effort of an affiliate (nothing is being marketed or sold to retail customers). Others might be selling similar mining services, but you’re operating in the MLM niche and this is where the red flags come up.
So where do you see GCR fitting in going forward? If GCR Coin was to be mined extensively outside of the GCR opportunity, what will that mean for the MLM opportunity?
And I forgot to mention in my last comment, glad to hear you dropped the upper end mining options. Three grand a month was pretty ridiculous so that was definitely a good move.
And there’s a good chance they are ALL doing so illegally. I refer you to the landmark SEC case: SEC vs. Howey 1946.
Howey supposedly sells ownership shares in orange groves, but the “owners” are legally obligated to leave it back to the company for “service contracts” where company grows the citrus on it.
There’s not even “right of entry” if the owner want to show up and inspect the place. SEC went to court and charged them with offering an investment contract without license from SEC. SEC won.
There are MANY parallels with your offering “mining” of GCR coins. vs Howey’s orange groves. So much parallel, that you should SERIOUSLY consider consulting a securities lawyer before continuing.
in may 2015, on a bitcoin chat forum the wallet/IT manger of cryptsy left this comment:
this makes me assume that GCR is unable to satisfactorily reply to the concerns cryptsy has about the GCR coin on offer.
what were cryptsy’s concerns, and why could you not give them satisfactory answers?
my guess is the pyramid/ponzi structure attached to your currency may have been the prime concern.
in an investor alert in 2013/2014 this is what the SEC said:
in GCR members are ‘investing’ in your currently valueless virtual currency. this is a high risk investment, which makes it all the more important that GCR should be registered with the SEC.
since you have enjoyed high quality legal advice, why is GCR not registered with the SEC?
there were ‘questions’ in the virtual currency world about whether these currencies, not being ‘real money’, fell under the jurisdiction of the SEC.
this was a grey area, and may have encouraged many virtual currencies to to attract public investments. however a recent case SEC vs shavers, decided in august 2013, the court has found that virtual currency are under the jurisdiction of the SEC.
the federal district court of texas however found that:
with this^ decision, any virtual currency offerings and investments, had better be registered with the SEC, if they want to be in business over a long period of time.
though SEC vs shavers addressed bitcoin in particular, it follows from the ruling, that any virtual currency, however small it’s value, will fall under jurisdiction of the SEC.
currently GCR is offering ‘zero value’ to investors and is in pure ponzi/pyramid territory.
if at all GCR launches on any virtual currency exchange, and gets any small monetary value assigned to it, it will still fall under jurisdiction of the SEC.
Hi Oz,
You are correct, MLM companies are under more scrutiny even though they are selling the exact same service as other companies, but choose to pay sales commissions over multiple levels.
I view us more as selling the picks and shovels rather than the coins themselves. We don’t guarantee any number of coins for their money. Now whether the regulators view it that way, that’s a different story.
Interestingly, I just did a query on the database and confirmed that as of this moment, we have 11,773 free accounts, 7983 accounts that have mined, and 5209 of those mining accounts are retail customers that are not doing any recruiting. That’s 65% retail sales, which is very high in the MLM world.
Our mining services are temporary and will go away in the future. They are only there to establish the initial distribution of GCR coins. Our protocol is Proof Of Stake, which says coin holders constitute the decentralized network that verifies transactions, not computing power like bitcoin’s Proof of Work protocol.
Every Proof Of Stake (PoS) coin has a method for its initial distribution. Some use Proof of Work(PoW) mining, others use an initial private offering or crowdfunding, and still others may distribute via shares in a mining pool. But whatever the method, it is temporary just to establish the initial coinholders for the PoS network. We have used a combination of PoW mining along with a mining pool.
The long-term direction of the company is not in mining services, but in the development of other cryptocurrency related services to promote the increasing value of the GCR coin. Our primary focus is in the Nexxus Global Rewards Community.
You could view it as the Lyoness of cryptocurrency, although done right with a focus on the loyalty transactions and building a substantial merchant network rather than on front-loading distributors.
Nexxus will offer consumers a cash/coin back reward for paying with cryptocurrency. This will create buyer demand so they can get a better deal from merchants. Buyer demand for any asset on any public exchange drive price up.
I see an opportunity to converge cryptocurrency technology and shared loyalty technology to bring the mainstream public to cryptocurrency, which is currently an early stage techie domain.
The Nexxus support for bitcoins will attract millions of bitcoin enthusiasts, activists and press. GCR will gain credibility and visibility riding on the coattails of bitcoin with Nexxus.
I personally built and own all this technology from working closely with another loyalty program (done wrong), FlexKom. I am retrofitting my technology for the cryptocurrency industry.
Great chatting with you as always.
–Bob Wood
No, it isn’t. Affiliate revenue != retail sales.
You’re incorrectly identifying passive affiliate investors as retail customers.
Well while we wait on a regulator to make a decision either way in the MLM cryptocurrency niche, it’s been my experience that company’s launching with one model and then changing it later on doesn’t work.
You shouldn’t have to push the grey to get off the ground.
And I’m not too sure on the cryptocurrency e-commerce portal. Real funds will still be needed to make purchases, leaving me wondering why end-users not interesting in hoarding coins as an investment would bother.
There’s also the issue of prices being all over the place. Nexxus Global Rewards aren’t buying their products with cryptocurrencies, so they open themselves up to huge volatility risks. Not to mention daily fluctuations in prices to end-users.
Hi anjali,
I saw the same post by the Cryptsy wallet manager, and contacted him via the posted email address immediately multiple times.
They never responded to my repeated requests for communication with them. They also did not refund any of the paid votes as they claimed they would.
To this day, I still do not know what concerns they had with our business model. I could also guess, but it would be just that, speculation. It has been nearly impossible to get any communication with Cryptsy.
One thing I’ve learned is that cryptocurrency is a wild wild west frontier and many people and companies react out of ignorance even though it is completely legal.
Hope this helps…
–Bob Wood
well, then we should conclude that cryptsy is not interested in GCR currency.
i speculate that they may have issues with your recruitment commissions based model.
you speculate it is because an established crypto currency exchange like cryptsy may not be informed about the legalities surrounding cryptocurrencies and their generation.
cryptocurrency is Legal.
ALL cryptocurrencies are Not Legal.
your GCR MLM has nothing to do with cryptocurrency, your virtual currency brings NO value to your MLM business, which is merely selling ‘tools’ in a recruitment scam.
what! so GCR cryptocurrency will have the same function and value of a ‘discount voucher’?
if i’m not able to pay in full for a product in cryptocurrency, how is it a currency at all?
I haven’t really looked into it, but the Nexxus thing sounds like an ecommerce platform for cryptocurrencies, with cash/coin back.
So in effect you would be purchasing products from them with cryptocurrency/cryptocurrencies.
From the perspective of analysis however, it needs to be kept in mind that this is ultimately external the GCR MLM income opportunity. Integration of third-party systems has no bearing on the internal structure of an MLM company, which is what is being analyzed.
is this the ‘paycoin’ that comes from josh garza of GAW [geniuses at work]?
it turns out it was a ponzi scheme with no real cryptocurrency mining going on , and investors being paid with new investor funds.
this is how the bitcoin news magazine [BNM] rated paycoin:
bitcoinnewsmagazine.com/top-5-cryptocurrency-scams-of-2014/
when GCR stops its recruitment based model, the early investors will have made money, and later investors will be left holding GCR coins of very low value, just like paycoin investors.
at least since march, 2015, GAW with all its subsidiaries [paybase/ paycoin/ zenminer etc] is currently under investigation by a whole bunch of agencies.
the SEC is also investigating the ‘initial coin offering’ at a ‘predetermined rate’ before paycoin was ‘publicly launched’.
this^ should all sound very familiar to mr bob wood!
the SEC is joined in this investigation by the FTC, IRS, FinCen, and even the Department of Homeland Security. it’s a full packattack!
i’m surprised bob wood is not informed about all this, inspite of being ‘interested’ the cryptocurrency world for many years.
oz, could the GAW/paycoin investigation be the MLM cryptocurrency bust you were expecting!
coinfire.io/2015/03/06/coin-fire-gaw-miners-catches-sec-ftc-irs-dhs-attention/
Could be, but’ll probably take an MLM specific case before the industry pays attention.
Can’t wait for Nexxus i use cashback programs a lot Groupon Quidco amongst others .. Now if i see a merchant accepting Bitcoin through the Nexxus program and offering something back on my purchases its a no brainer fantastic concept.
Merchants will love it Nexxus will drive the traffic to there business through an app and stand alone website massive exposure and they havn’t even got to accept the GCR coin just Bitcoin to start with 🙂
paycoin was trying to launch paybase, a platform for buying products with cryptocurrency, they advertised they were tying up with amazon etc which of course turned out to be lies.
as things stand paycoin has tie ups with very few small time merchants for their currency. it has very low real world utility.
i’m seeing bob wood with his nexxus closely modeled on paycoin, which he believes is a legit MLM cryptocurrency, while totally ignoring the fact that paycoin is in the midst of a full regulatory investigation.
mr bob wood can you name any other MLM cryptocurrency on public exchanges?
after SEC vs Shavers, and now the paycoin SEC investigation, will you be registering with the SEC to protect yourself from a similar fate?
like GAW/paycoin, GCR also uses cloud mining and an affiliate based system. there may be finer differences but there are broad similarities too.
Hi anjali,
I completely agree that PayCoin is a total scam that ripped off a lot of people. You asked me for the name of an MLM coin that was public, that’s all. I do not agree with their business, but they are publicly traded, as you asked.
Cryptocurrency in general has not been deemed illegal by most governments around the world.
The illegal cryptocurrencies are not real cryptocurrencies based on the precepts of decentralized control, public ownership, public control, no/very low fees, etc. They are fakes pretending to be a cryptocurrency.
GCR is a real cryptocurrency coin with a decentralized network based on Proof Of Stake. The technology is all in place and running in production like any legitimate cryptocurrency.
The coin was developed by an independent cryptocurrency expert that has nothing to do with MLM. Anyone can create a free GCR wallet and send or receive GCR coins with anyone, anywhere, anytime.
The decentralized network with 2 master nodes verifies all transactions on the GCR blockchain. This is all independent of the MLM.
The GCR Marketing company is a marketing partner for the GCR coin. They are compensated for the sales of services to help build value in the GCR coin. They can earn commissions from the online mining services and for driving cryptocurrency transactions through the Nexxus merchant network.
GCR is not a discount voucher, but a real cryptocurrency.
Nexxus will offer consumers a cash/coin back reward for paying with any of their accepted cryptocurrencies including bitcoins. If a merchant offers you a lower price for their product, that does not make your cash invalid currency, you just got a better deal for your cash.
The only scam related to MLM and cryptocurrency is when a company claims to have a cryptocurrency coin, but creates a fake virtual currency that is still under central control by the company, can only be owned by the reps of the company, and can only be traded at the company with imposed limits.
They are pretending to be a cryptocurrency and will never be traded publicly.
If an MLM company decides to launch a real legitimate cryptocurrency coin, it is not necessarily a scam, just a highly speculative venture like all cryptocurrencies.
I believe that cryptocurrency is the future, but no one has done it right to build real value by creating buyer demand with an exclusive commerce benefit. That’s our mission.
Hope this helps… Please keep asking your questions, you seem to have some underlying concerns.
–Bob Wood
Hi Oz,
Nexxus is the Global Rewards Community that will give the mainstream public a good reason to buy and use cryptocurrency, including bitcoins and GCR.
Nexxus is central to the GCR Marketing opportunity as the long-term income opportunity for its agents to build the merchant network and earn money on every transaction.
The current offering of mining is temporary to establish the initial distribution of coins, required by all Proof of Stake coins. Mining will go away and be replaced by Nexxus income.
Nexxus generates marketing fees from the merchants that are used to pay sales commissions to the GCR Marketing agents for helping to develop the network of merchants and consumers.
–Bob Wood
i am from Italy. I wanted to join to GCR but I have investigated about some members.
In Nexxus Global Rewards there are, for Italy, Giovanni Merenda, he was involved in Zeek Rewards; Francesco Bais, he had some problems with justice (somebody says he was in jail); and, in the Fab, there is Sasa D’ Arco, a leader of My Tirn-PMR (another scam).
Is it true?
Hi anjali,
Paycoin is a scam, but not because it is a MLM cryptocurrency, but because they promised that the Paycoin coin would never drop below $20.
They convinced a lot of people to spend $10+ per coin with the promise it would always be worth at least $20. Easy money, right? Some people just don’t get basic sound business principles.
They cannot do that without price manipulation from some deep pockets that would keep buying at the $20 price.
But of course, time proved that it was all a hoax when their price dropped to $0.44 the last time I checked. At least one exchange delisted Paycoin for their breached promises.
Being an MLM company with a cryptocurrency does not make an automatic scam. Look under the hood and determine if it is a real cryptocurrency, regardless of the sales method used.
–Bob Wood
That’s why there’s the Howey test.
If it passes Howey test, it’s an investment.
ANY sort of investment is under jurisdiction of SEC.
And public mining / mining pool are dangerously close to being declared an investment.
GCR claims to be enhanced by gold so it couldn’t have zero value! Is it not the same thing?
except that the global currency reserve MLM has not launched any cryptocurrency, and is just selling ‘mining rights’ and some ‘educational package’ in what appears to be a recruitment scam. you have not responded to oz’s questions about your retail. non recruiting reps are not retail clients.
are GCR coins backed by gold as claimed by your reps?
why are so many ‘shady’ ponzi pyramid recruiters like linda helin etc associated with GCR? this is the ‘quick money brigade’ not the ‘let’s build a cryptocurrency brigade’.
if you say paycoin was offering easy money, then even your one click mining offer, with recruitment commissions is easy money.
thanks.
does GCR have an office? where is it located? where is the company registered?
who provides cloud mining services to your company?
who is your cryptocurrency expert? who is Anthony Eufemio, who was listed on your older website as your crypto currency consultant? why has your website removed his name and photo?
the person who’s photo you used on your earlier website as anthony eufemio, is actually a ken chu of hong kong and an established businessman and not a cryptocurrency expert or consultant!
en.wikipedia.org/wiki/Ken_Chu_(businessman)
just to remind you, here is an image from your old website [along with info about the real ken chu].
i.imgur.com/rCZcdX2.jpg
you are listed as the chief technology officer, so you must have spent enough time working with your own cryptocurrency consultant to know his name and appearance?
why did your website have a false identity and photo for your cryptocurrency consultant?
why will a company which is building an ‘honest to god’ cryptocurrency, post blatant lies on their website? i would call this fraud. what would you call it?
ps: the above info about anthony eufemio/ken chu was sourced at :
bitcointalk.org/index.php?topic=828046.0
That stock picture they used for Anthony Eufemio was when Robert Corriveau was the CEO last year probably one of the many reasons he isn’t now
ha, blame everything on corriveau!
bob wood was the chief technology officer, and part of the management team, so let’s the cut the kiddish crap that corriveau was a very very bad man who was doing scummy scammy things all by himself.
you start out as a scam, then change the CEO and pretend you are not a scam anymore?
^^this is EXACTLY what all pyramid ponzi scams do – change the name of the company, change the management, make changes to the compensation plan, play the blame game, start afresh and hope to sucker in a fresh batch of investors.
take your scam excuses to the sheeple, you will get your butt kicked if you try your slimy lying excuses here.
Who started out as a scam ??? what because there was a stock pic on the website?
Your making yourself look like a pratt wind your neck in.
GCR started out as a scam because they LIED/commited fraud about their crptocurrency expert on their own website.
only scam companies use fake identities. why would a non-scam company EVER do this?
using general stock photos on your website for advertisement is not fraud. ‘creating a false identity’ of your cryptocurrency expert on your website is fraud.
a cryptocurrency company with a fake cryptocurrency expert! what could be scammier than that?
It’s NOT a stock pic. It’s of a real person who never authorized for his picture to be used that way. That’s unethical in itself.
Then writing up a unrelated background story for the photo is much like those fake viral pictures with bogus explanations, except when a company does this and pass it off as their management team suggests the entire company has no leg to stand on and probably entirely fake.
Here’s an example of a bogus website where all of the bios and photos are stolen off other websites.
amlmskeptic.blogspot.com/2015/04/when-lies-doesnt-even-make-sense.html
(And yes, I fixed the grammar in the title already, but the URL can’t be changed. )
Hi Oz,
Thanks again for your diligent efforts to cleanup the mlm industry.
I’ve been a full-time business, marketing and technology consultant to the industry for over 11 years and there is a lot of garbage that needs to be cleaned up. Unfortunately many people haven’t seen the good side of the industry like you and I probably have.
Watch dog services like yours, Rod’s and Troy’s do a great service by searching out the truth. It’s refreshing to find analysts like yourself doing the research and asking the hard questions to get to the truth rather than just spouting-off uninformed opinions and rumors.
Regarding one of your reader’s concerns; Anthony Eufemio was the cryptocurrency expert for the company from it’s start on July 3, 2014. His identity has never been hidden.
The web designer of the original website put up a place-holder picture with Anthony’s name, while we were waiting for a picture from Anthony, which was updated with Anthony’s picture shortly after the website went live.
Keep up the good work. I’ll keep you and your readers updated on our progress with the public exchanges, which we expect to be publicly trading on not too long from now.
–Bob Wood
He could have put up a “Photo coming soon” instead of someone else’s photo.
In this “industry” we’ve seen a lot of weird ****. There’s someone who’s too cheap to buy a suit so he Photoshoped ™ his head onto a generic suit picture stock photo. And as I pointed out before, some scam websites have the entire staff composed of stock photos and stolen descriptions.
Once the site lost its credibility, it’s a LONG road back, if it can be done at all.
your current live website at gcrmarketing.com says:
why is anthony eufemio not mentioned here as your cryptocurrency expert, if his identity has never been hidden?
currently where do you share the information about anthony eufemio being your cryptocurrency expert?
hahahaha . that’s really cute 🙂
@bob wood
your current live website at gcrmarketing.com says:
the ‘mailing’ address provided is:
this address belongs to
why does your address on your website snip off the phrase ‘West Plano Executive Suites’?
is your ‘texas headquarters’ merely a rented virtual office?
also, you forgot to tell us the name of your ‘cloud mining’ service company!
we are in july 2015 now, which means that GCR’s association with anthony eufemio is an year old now.
strangely eufemios website does not mention GCR as a current or past project of his?
so, GCR’s current website has no mention of anthony eufemio and eufemio’s website [http://anthony.eufem.io/#location ] in turn does not mention any ongoing work with GCR.
is this a secrety secret cryptocurrency expert consultancy?
And the coin ” backed by gold” ? where is this gold? Which is the lowest value that the gold guarantees for the coin, as GCR claims?
in 2014, GCR was going around saying they has tied up with a UK foundry for their gold.
they have not, to my knowledge, retracted this statement or said anything about what happened to that ‘arrangement’.
i think now they will convert to the nexxus platform and pretend the past never happened. at some point the cryptocurrency ‘gemcoin’ may just disappear, to be replaced by some discount shopping platform nexxus. and the recruitment games will continue. there’s too much BS here, to believe they have any real business going on.
Probably because it is indeed Regus Virtual Office.
“Suite 400” is the front door to Regus space. Citing Suite 400 would indicate they have no fixed address at that location (i.e. pure virtual, mailbox only, and/or occasional conference room)
No matter what Bob Wood claims here, this IS a total scam! Anything that has Linda Helin involved as a top level “employee” is a SCAM!
haw, then why does the GCR website pompously say:
what would an investor understand from the above^? they would feel there was some genuine brick and mortar headquarters in texas? right?
why is GCR misdirecting their website visitors? they should have avoided the sentence about being ‘headquartered’ in texas!
genuine companies would never misdirect like this.
GCR exchange will be live or not
The world abandoned the gold standard in 1933. “Backed by gold” is an antique notion which in today’s world is the equivalent of “backed by a truckload of corn. ”
Gold has sex appeal. It glitters. In the context of GCR, that is all that really counts because they seem to be selling the sizzle, not the steak.
GCR tried to launch on cryptsy but got rejected by them after an ‘investigation’. bob wood claims they are trying to launch on other exchanges, but i’ll believe it when i see it.
according to trade pundits it takes a minimum of 4/5 months to get listed on a cryptocurrency exchange, from the time you submit your white paper.
I know it, thank you. GCR claims to have a gold deposit in Singapore ” through a strategic alliance with DixitGlobal “. As they claims……
What part of it because the coin certainly isn’t ?? Met the developer few weeks ago using kryptonite scrypt were gonna be the Superman of the Altcoins 🙂
is the GCR currency script Still being Developed?
then HOW are you ready to be launched on a public trading exchange, as bob wood says?
BTW other nascent genuine cryptocurrencies mostly release a white paper for peer review. where is GCR’s white paper?
I am not particularly well informed on this but I do know that physical gold where ever it is deposited is often used as collateral for asset backed derivatives which themselves are traded all over the world.
GCR’s offering to the public may be seen as a gold backed derivative product. More importantly is the fact that any derivative is almost certainly only backed by a fraction of the actual physical gold… since (the theory goes) there will never be a need to liquidate all the gold at once.
This fractionalized gold backing is great way to leverage the value of the physical gold but its not foolproof and not without risk.
Germany (yeah the country) had its entire national holding of physical gold stored in Texas of all places and could not get it repatriated because the gold was used as collateral for billions of dollars of derivative products. Apparently nobody thought Germany would ever ask for it all back.
SPDR Gold ETF, GLD is the most traded gold derivative in the world and nobody knows for sure if there is enough physical gold available for delivery to make investors whole if the GLD ETF holders demanded liquidation of their shares.
The whole world sits on this opaque merry go round. No matter what GCR says they have, they (like Germany and the GLD ETF holders) really don’t know, because nobody knows when derivative contracts are daisy chained together.
What I tried to convey above is that a “backed by gold” guarantee may be pretty meaningless.
hoss: good argument for the conspirancy theorists. However, GCR claims to have a gold deposit in Singapore.
Unlike what Bob Wood claims, Prospector Package ($ 999,95) and Claim Staker Package ($2,9995) are still available on GCR pages.
Maybe they do. I have some in a London.
I’d like an explanation on that one too. Bob?
First the base was ethereum, then this June 18 Facebook post:
by Bob Wood – facebook.com/GCRWorldwide/posts/909042402486713
Now it’s what? kryptonite?
And the coin is live? when?
for example this GCR rep has posted information on june 14, 2015 still offering the prospector and claim staker packages:
i guess mr bob wood will just inform us that his reps are complete idiots who just keep selling unavailable packages.
the prospector and claim staker package are available on GCR’s Own Website as of Today.
gcrmarketing.com/sections/company/17/home/Business.pdf
gcrmarketing.com/sections/company/17/home/Compensation.pdf
so, a company creating cutting edge cryptocurrency, cannot keep its own website updated, OR the CEO bob woods has no idea about what he sells.
the website also says, the GCR coin is ‘partially backed by gold’ which is to ‘guarantee a minimum value’.
so, if paycoin gives a minimum guarantee and fails it, it is obviously a scam. but GCR too is offering a minimum guarantee, against a gold holding in singapore through an alliance with a company called dixitglobal.
so, who is this dixitglobal, where is the web presence?
[btw, ‘dixit’ is an indian surname]
yes yes, maybe they do. so, since they are transparent, GCR should let members know more about the gold holding ie how many KG’s held, and exactly where.
as they are mining coins continuously they must be building the gold reserve at the same pace. there must be a lot of gold by now!
i mean hoss, aren’t you tired of all these schemes spinning yarns about gold mines and reserves and credit lines and what not.
since mr bob wood has chosen to take part in this conversation he should lay it all out, and back everything he says with proof.
where is the gold holding?
anthony eufemio just replied to my mail, regarding his association with GCR.
anthony eufemio, 8 july, 2015:
frankly i don’t understand the cryptocurrency ‘shop talk’, but i understood enough to know that, what GCR and bob woods claim to be ‘creating’, may not be possible at all, and their claims are hence Lies.
thanks mr anthony eufemio!
So Eufemio thinks they’re full of shit. Hmmm.
I have some understanding of proof of stake and yeah, it’s based on what you already have so the concept of mining did seem to be at odds with that.
I just chalked it up to me not fully knowing the ins and outs.
As to that $120,000, it’d be interesting to know what the story is there.
Even if they ultimately dropped the approach, Eufemio should still be paid.
well, you know they need all the money they have to build that gold reserve in singapore ….
$120,000? They have had a lot of fun in their cruise in the Mediterranean Sea with this money!!
mr anthony eufemio has kindly mailed me a clarification on GCR’s ‘gold reserve’ claims:
anthony eufemio, 8 july, 2015:
so, GCR has fake cryptocurrency and no gold.
busted.
thanks mr anthony eufemio. GCR victims owe you one!
But are the authorities watching? Must they control? Can 8 peoples (Wood, Helin, Luz, Arcas, D’Arco,Fields and Suh) do this?
In Spain GCR is growing more and more. In September, in Seville, GCR will open a crypto café sponsored by Nexxus.
gcrfaststart.com/win-a-dream-vacation
mr anthony eufemio has further pointed out technical ‘holes’ in bob wood’s statements:
yeah, keep calling GCR and bob wood out, mr anthony eufemio! great job sir!
Yes Paul very exciting about the crypto cafe great location over there in Seville.
Yes,Tim, is very exciting to sell air to the people!
yes yes, go enjoy a cup of coffee at the crypto cafe in seville. that’s all you’ll get for investing money with bob wood of GCR.
have fun and all.
anjali Quite embarrassing you message someone you don’t even know and asks loads of questions .. if someone done that to me id say mind your own business.
Right, because proper due diligence requires questions aimed only at people you know.
What dumbass logic is that?
Any further attempts to derail attention away from the information in Eufemio’s answers will be marked as spam.
mr eufemio gave me permission to publish his emails.
this information is embarrassing only to GCR, bob wood and scamsters like yourself.
i don’t know the FTC and SEC either, but currently i’m very ’embarrassingly’ sending messages to them too.
Connection or coincidence?
Bob Woods’ company address:
Pinnacle Performance Institute
400 Chisholm Place, Suite 411
Plano, TX 75075 USA
pinnaclep.com/p-Company.htm
Traverus Corporate Training Center and Offices:
TraVerus, Inc.
400 Chisholm Place
Training Center Suite #411 Plano, TX 75075
Mailing Address
scam.com/showthread.php?33418-Traverus-Travel/page3
Sorry, I didn’ t want to spam. I am sure that also that page is a scam itself.
Huh?
apart from pinnacle and traverus, i could locate at least one more company referring to this address:
Remote dynamics
400 Chisholm Place
Suite 411
Plano, TX 75075
so, this could be a common mailing address for several businesses, and not their physical office?
Remote Dynamics is actually based in California, and the TX reg status shows “franchise tax ended”, i.e. “ceased to exist”.
Texas Corp search shows Global Currency Reserve LLC is based at
9900 SPECTRUM DR
AUSTIN, TX 78717-4555
Which is actually “US Corp Agents Inc.” a company registrar.
—complete aside—-
There are THREE Traverus in TX
Traverus Travel Network, LP (out of Dallas) shows suspended due to owed taxes
Traverus Management Inc (same address as above) also shows suspended due to owed taxes.
Traverus Inc out Allen TX shows active, but is actually registered in Nevada.
NV says “owned by David G Manning”, active.
Traverus 5CTV Holdings LLC, (NV) also owned by Manning, however, is revoked.
Just as a curiosity, I reverse searched Bob’s photo.
Seems Bob was also doing “Legacy Max”, which appears to be a reboot of Zazzed.
However, the really curious thing is “Silver Heart Foundation”, where Bob’s again, mentioned as CTO.
The problem is the other 4 members, all “chief” something, don’t seem to exist. They are all stock photos. Except Bob. And the address is 12345 Main Street. Yeah, right. Either Bob’s photo’s stolen, or he’s working at a scam foundation.
(Chances are his photo was borrowed… ALONG WITH HIS NAME, by some Indian web design template company called EvolveXL)
I think this is very interesting (in Spanish language) :
(Ozedit: Link to Spanish presentation removed. Didn’t see anything particularly ineresting.)
If you’re going to link to non-English content, explicitly point out what is of interest.
Is it that GCRInicio something website? Nothing interesting there.
No it was a YT vid in Spanish promoting GCR.
Sorry for the misunderstatement. Would be interesting to investigate ,at 2′ 35″ of the video, the speaker’s statements
And if is true that ” MyBitcoin” ,after GCR is filed in Tennessee, its address and various numbers.
It really is Bob in the picture. Watch the video provided below and pay attention to the blinky-eyes mannerism most commonly found amongst people who are lying.
youtube.com/watch?v=36QoEONgEnM
Legacy Max and GCR both use the same system it seems..
GCR: gcrmarketing.com/0101.asp
Legacy Max: legacymax.com/5251.asp?ShoppingCartID=43641&CompanyID=14&MemberID=0&SponsorID=0&NoAdd=0&BadProduct=&ProductTypeID=0
No such entity exists in Tennessee either. You can search via
NOLINK://tnbear.tn.gov/ecommerce/filingsearch.aspx
It exist, I have checked , but I can’ t tell wich type of society it is. It would take an expert.
GCR is registered to an agent in austin texas. here are the complete details:
but according the GCR website, their ‘company headquarters’ is at the regus ‘virtual office’ in plano, texas.
All I can say is WOW! This information is a bomb shell!
(Ozedit: Offtopic derail attempt removed)
I have put in a bit of money and have a few coins.. To me it is a bit like purchasing shares in a startup company, not worth anything till they go onto the stock exchange..
Stop all the bulldust boys and wait and see.. Then you can say I told you so..
Interesting. I wonder if your view is widespread among GCR affiliates…
So you admit you are INVESTING in the company, despite them NOT being legal to offer investments? Or did your “metaphor” went into Willy-Wonka land?
well, we’re not going anywhere anytime soon.
even if some sidey, suspect, or GCR selfcreated exchange launches the cryptocurrency, it will fall through the floor and you guys will be left staring at your money walking out on you [except for the top affiliates who made recruitment commissions].
btw, who is GCR’s cloud mining service and who are the merchants currently accepting GCR currency?
the pdf document on the GCR website says:
i cannot find any dixitglobal offering any such ‘gold deposit’ services.
also anthony eufemio’s ‘Digixglobal’ sounds very very close to ‘Dixitglobal’.
so, have GCR made a typo on their website, or is this more misdirection?
if it is a typo and not some other company, why does the GCR website still mention digix/dixit global , if it did not buy any gold from them?
Can’t have merchants accepting the coin if theres no value. Once on the public exchanges and Nexxus is rolled out will be a different matter!!
nexxus is live. you can join the affiliate program and recruit.
there are no merchants listed on the nexxus site, so what are people doing in nexxus currently?
Tim, what is Nexxus exactely? It seems to be an empty box.
a perfect place for an imaginary coin.
Here is a very interesting post I found in which Bob Woods responds to the competition in the Loyalty Reward cashback program.
Note the Second to last sentence in the first paragraph……PEOPLE WILL INVEST in GCR.
is that just not saying people will buy the GCR coin on public exchanges we are being paired with BTC when trading!!
Huh?? dont understand what you mean based on sentence structure???
GCR has not even started to reach out after merchants for Nexxus. This is a MAMMOTH of job and would take many full time sales reps to begin a campaign with proper follow up.
Merchants are inundated daily with all the loyalty and cashback sites out there….Bob and GCR are making large assumptions that they will simply get this up and running.
Everyone in GCR was waiting for the coin to go LIVE which it is but what they realized is that they really wanted it to go public….so now there are many dismayed by GCR more or less pulling the wool over them and having to wait and additional 4 – 5 months before this could “MAY” even go public. Way too miners. How many ACTIVE Miners Bob???
There really are NO RETAIL people in this company…all of them started to mine in hopes of building this witht the caviate that at least they got something that may have value.
Problem is that the coin being mined now has just started its mining in the last 50 days or so… This is the GCR 2.0 coin now. What has happened is that because they owe so much to Anthony Bob went and started a new coin.
So you have a brand new coin along with a Merchant and Loyalty Program that is on hold until Bob can work through the issues with Anthony.
This is a FIRST CLASS MESS!!!
Also, this is the first that many are hearing about Robert getting bought out and maintaining his coins….does this mean that Robert has the old coins or new ones…
Furthermore, GCR is not telling us the total reason of why Robert left……I KNOW THIS for a fact…..so Bob why dont you tell us the real reason and be truthful if you claim you have nothing to hide….Oh that is right your claiming a NDA is in place…that is right……Another mask to hide under…
Thank Jon Douglas. TO GO LIVE and TO GO PUBLIC are not the same thing. It takes a lot of time (5-6 months) and MAYBE the coin will go public.
so, what happens to the initial coins that GCR investors received by purchasing the mining hash rates?
if those coins are no longer being mined and will not be launched on an exchange, they should be worthless? what happens to those coins? can someone who understands cryptocurrency explain this?
moreover the the ‘business opportunity’ pdf of the GCR site says:
so, only 22% of money collected from investors is used for cloud mining and purchasing hash rates to create the coin?
that should reduce the ‘value’ investors are getting for their money drastically?
this would also explain why bob wood did not have enough money to pay anthony eufemio for his services, as most of the money is being paid to top recruiters like linda helin etc?
It is so sad to think that , when GCR will collapse, Bob Wood, Linda Helin, Mike Ward, Sasa D’ Arco and others, will start another adventure. They are doing this all live long. But the miners can always have a cup of coffe in Sevilla.
Yeah calm down Jamie it’s not even started yet!!
and therein lies the problem. who knows ‘if’ and when ‘GCR’ will start. its been in prelaunch over an year. GCR corporate just makes comforting sounds about the ‘launch’, and is off across the world recruiting like mad.
tim, answer my question in post#121 please, since mr bob wood has walked out on us, after ‘inviting’ questions ?
Update: today Prospector Package ($ 999,95) , and Claim Staker Package ($ 2,9995) are still available.
Clearly the Higher Packages continue to be available on the site and are available today.
They will always be extending or doing promos as if it is going away to get people to buy them with the knowledge of it going it away…which it will not.
In Spain, all ex-zeek scammers are recruiting people to GCR.
Obviously they encourage you to invest in that coin thats suposed to reach a huge value in the future. And then show you a bitcoin chart as a way to persuade you.
If you don’t do so, they make you feel stupid!
yeah, because every cryptocurrency is going to be the next bitcoin!
bitcoin has taken years to get where it is. bitcoin has created it’s ecosystem slowly through trading and merchant acceptance.
comparing GCR which is a recruitment ponzi scam to bitcoin is like comparing the architecture of the taj mahal to the public toilet down the road.
I got a call about this company this morning by a long time friend and well known network marketer. GCR sure seems to be attracting some big names.
There has to be something here? I just can’t see the company attracting some of the industries biggest names for no good reason.. Back room deals possibly?
The word on the streets is this thing is LIVE in less than 2 weeks…lol we shall see, I was also Highly encouraged to sign up at the $2995.00 level… hmmm
The $2995 level that Bob Wood said doesn’t exist on July 4th?
Hmm indeed.
Yes Top Gun all on track to to live and trading this month on 1st exchange also as far as i know the $2,995 package has gone the top is $995!!
Yeah, seems cryptocurrency is the current buzzword de jure. Couple years ago it was penny auctions (Zeek Rewards), before that was “online travel” (TVI Express), then before that it was “e-Advertising” (Ad Surf Daily), and before that it was “internet mall” (Skybiz)…
Cryptocurrency is just BEGGING to be regulated, because all these mining pools are the modern equivalent of the old Howey “citrus groves” contracts (as in SEC vs. Howey 1946).
You’re gonna see some landmark case when things got really ugly, because it seems every ****ing scam is launching their cryptocoin, and even if you’re legit you can pretty much forget it as people don’t want to know you except the naive sheeple who’ll believe ANYTHING.
The strategy here is that GCR is putting all their apples into a Loyalty and Reward Network that has not even started to be created.
Bob’s supposed experience with Flexcom has him in a situation where he feels confident that he can grow Nexxus and have it released by 2016. In reality the value of the coin will drop considerably because there will be no reason for people to own coins because NEXXUS wont be up and running until 2016 at the earliest.
When you have 56 million coins already distributed to its members, there are just too many of the 99 million coins that have been mines in order to create value…..
Additionally, no one will be paying GCR to mine the coin if the value of the coin on the open market is less. With the average price of mined coin is 9 cents currently, which it is, then it is only suitable that this coin will go way.
GCR “THINKS” that they will be able to create a market by having the ability to buy coins through them at 9 cents and if the market bears 2 cents….then people will be BUYING coins on the open market…
So naturally, as the mining continues , the less coins someone gets per day goes down and the value GOES UP.
All I can say is ….We shall see.
While it’s a classic “chicken or the egg first” problem, here is exacerbated by “how do you keep the chicken (GRC Coin) alive until you can make feed (Nexxus whatever)”.
As you said, unlikely. All these extra altcoins will fade or die, leaving only the big players that you can actually do something with, (Bitcoin, primarily) as they are too risky and no legit exchange would touch them.
Add to that increasing control over exchanges by governments (to fight money laundering through altcoins) and you got uncertain future, EVEN IF IT IS LEGITIMATE WHICH IT MAY NOT BE.
Mining doesn’t create any value in itself?
Mining of GOLD will create some value, but that doesn’t mean that any other type of mining will do the same. For gold, mining is a necessary step towards a refined product that can be traded in a market. The metal itself will have some value.
The cheaper the mining process the more profitable the mining of gold will be. A more costly mining process will not add any extra value to the metal.
Mining of digital currencies will not add any value to the currency, it will only add some costs. The value of a currency will come from that it relatively easily can be exchanged with other things of value, e.g. goods or services.
That is exactly right…The only way that any value will come from the mining is if the Nexxus takes off. They need a partnership and QUICK…much like Onecoin has done with Conlingus(?) or something to jumpstart their reward program.
The issue of the old coin, the current coin that Bob had to throw together, and now a new coin that Anthony is claiming he is going to have to create means that members could actually have their names tied to 3 separate coin???
This is getting a little crazy……through in the WOLF OF LINDA and you have a first class Tabloid that is being created.
Looks like Linda’s role has been reduced recently with her no longer part of Nexxus which would be a good thing. Maybe Bob has learned just how Toxic this woman is when it comes to an organization….and it starts when she opens her mouth.
Conlingus is just a marketing team / platform that has a collection of sheeple to lead around. It doesn’t really have any deals other than to “swell the ranks” of OneCoin as “our next big thing”.
LMAO… The Cunnilingus Team… Sorry I had to
Nexxus seems to be a rather vague idea. I used the term “if it easily can be exchanged with other thing of value, like goods or services”.
US$ can easily be exchanged with almost anything. Gold in a tradeable form (e.g. coins or jewelry) can relatively easily be sold to someone.
The only “value” GCR offer seems to be the opportunity?
nexxus has no merchants currently, and i dont see them getting any big merchants to sign up either.
at the best, affiliates will register their own businesses, and when nexxus starts crashing bob woods will likely add some potion and lotion products just to show there are products available.
it is the second recruitment scam built into the GCR platform, the first being the GCR ‘mining’, and will not last over an year.
hey what’s this about? is anthony eufemio back with GCR? have bridges been mended and all? do tell, do tell.
I Think it is a big scam.
GCR coin will not be live or reach the exchange. because GCR Team is doing wrong commitment to the public…
already 1 year has been passed. but GCR team is continue telling that GCR will be live soon….and now They are saying it will be live within 45-60 days….as per linda facebook post….
i think GCR wants to collect more fund…. it is a scam.. because it is last time of GCR because joining level is being continue fall….. and GCR has no any option except collecting money as soon as possile.
Don’t think you can read it actually says 45-60 days for the price of the coin to level out. Still on track to go on trading exchange this month.
in other words, GCR will launch on some dingy exchange and crash through the floor, and you’ll tell investors to wait 40/65 days to make a ‘profit’, and ask them to get more investments, to ‘raise’ the value of the coin, and string them along for another year or so.
how non-ponzi-ish of you!
so tim, is eufemio back with GCR or not?
That’s just kicking the can down the road or “check is in the mail”, isn’t it?
The Claim Staker Package ($ 2,9995) is not available. that Bob Wood said doesn’t exist in July onwards……
Global Coin Reserve is a best way, take advantage of this unique opportunity!
Good to see they got rid of it.
There is however now a $999.95 Prospector Package.
So uh what, did GCR decide to toss business responsibility out the window?
It’s not just responsibility. I said it once already. “Mining packages” is the modern equivalent of Howey’s “citrus caretaking contracts”. It shows all the signs of being an investment.
Heck, even Bitcoin expert said “most mining pools are probably ponzi schemes” not too far back.
You can’t “disclaim” your way from being an investment. Disclaimers are about presenting risk accurately, and that just prevent authorities from catching you as a FRAUD (as in fraudulently underrepresenting risk). It doesn’t deal with the other problem.
Cutting off the highest package, i.e. putting an investment cap on the thing is also a hallmark of shadier deals.
Andy Bowdoin of Ad Surf Daily revised the cap twice, I believe, to either 25K or 50K, then to something else even smaller: “on the advice of SEC lawyer”, I believe was his words.
What about your exchange website: nexxusrewards
when will be launch your GCR coin. you said: in this month.
i guarantee that it will be not start in the exchange. because GCR team has no any legal formalities and no any legal paper related to digital currency (buy/sell permission with the any government).
It is only scam i think. no any exchange till now for allow GCR. no any department has allow of GCR. GCR has no permission to launch their coin in the market.
Linda’s husband, Joe Tangarone is in Nexxus Reward.
there is a GCR corporate video dated july 10th, which hilariously announces that:
so, if GCR cannot accept GCR coins, why the frig will any third party merchant accept it?
the video advises investors to invest fresh money into purchasing GCR coins, and only coins bought with ‘real’ money can be used to buy packages and this will help take the price of GCR coins up.
this^ seems like such an artificial way to create value.
what i think is, pyramid/ponzi schemes these days, are attaching themselves to products [stocks/cryptocurrency etc] which are associated with high risk and high failure rates.
when they crash, they can use the excuse of ‘genuine business failure’ to explain their scam away – our IPO failed, not our fault, our cryptocurrency failed, not our fault.
the scamsters are getting smarter and smarter, and regulators don’t have established case law in these particular categories to take them down immediately. this way, any new scamming idea gets a run of a few years, before getting a judicial ruling against them.
i am not satisfy by your answer, because your answer is very low label category. why you do not showing the legel paper if you are right.
you are hiding that means . you have not any legal paper. you are continue making fool to the public , that GCR will be start in exchange soon.
last time your CEO (BOB) had said to the all public by email (when you wallet was disable). Exchange is very short process but one month has almost completed not any positive way has seen.
you are continue doing scam and gathering the money by doing bogus webinar and give wrong news.
i think GCR has Dead. no activity.
what can i say jack. bob woods walked out on us without giving satisfactory replies.
but tim is fully convinced GCR is launching on a bitcoin exchange within july
hey tim, please reassure mr jack here!
Kelly Ann (Pope) on her fb page, has written :
Is THE SAME KELLY ANN that wrote GCR would be live in ten days?
Yes, she is:
Has GCR resuscitated?
hey tim, ‘this month’ is over.
kindly come over and get your ass kicked, for misinforming everyone.
bring bob woods with you.
hey tim, you are right!
We are getting closer to showing the world that the GCR Coin is a real cryptocurrency coin by going public. the coin is going public.
Yeah ! In what millennium?
GCR is The Biggest Ponzi Scheme of the 21st Century… who in their right mind would want a coin that has about as much Value as the Turd I flushed down the toilet this morning!
I Heard that GCR is supposrd to go live on the 2nd.or the 12th. Not August either… They will be going Live on the 2nd. coming of Jesus Christ or the 12th. of NEVER!
as a 17 year Veteran of this Wonderful Industry I would like to give the readers my best advice on GCR…… RUN, RUN, RUN AWAY and NEVER LOOK BACK!
Also why your at it Do a Google search on Linda Helin, She has a reputation as The Ponzi Queen!
This is one of your Leaders GCR.. RUN, RUN, RUN, RUN AWAY……..
The other leaders are not better than Linda as scammer.
I laugh reading on Linda Helin’s fb page, an investor still ask when GCR will be on the market and with that rate.
I think the message will be deleted soon.
mmmmm… things are getting worse. Members are getting nervous. You can read the Ruben Arcas’ s fb page.
No,no…wait!!! Bob Wood is talking:
They are working… and I’m laughing.
You said a mouthful there, Bobby.
One of which is ensuring you aren’t trying to foist a recruitment-driven pyramid scheme disguised as a “cryptocurrency-based-pseudo-multi-level-marketing-company” on the public.
Hard to believe, I know, but the SEC tends to take a dim view of such nonsense.
Don’t worry about GCR now on the Blockchain explorer anyone can view all the transactions and trading platforms obviously need to see that and it’s a big part of going live so they know its a genuine coin. chainz.cryptoid.info/gcr/
I note BitCoin is not on their blockchain list.
Does having your altcoin show up on some crappy website nobody uses really mean anything?
I mean if I wanted to, I could set up a blockchain script on a subdomain of BehindMLM and pretend that somehow legitimizes BehindMLMCoin if I wanted to, right?
Here is the proof that GCR is PUBLIC now.
bittrex.com/Market/Index?MarketName=BTC-GCR
Yeah so now what?
If they’re still accepting thousands of dollars for positions then the same issues persist.
To all the knicker wetters out there moaning do yourself a favour get on GCR were live genuine coin and gonna blitz every altcoin out there.. As you were.
Two years? Three years?
What’s the shelf-life of that marketing spiel?
The price dropped 94.4% rather immediately?
24H High 0.00250000 BTC
24H Low 0.00001011 BTC
Current 0.00013600 BTC 94.4% reduction
BTC is currently approx 210$, which puts the current price of GCR coin at .028$ = 3 [rounded off] cents.
why on earth are affiliates paying 70$/month and above to mine these worthless coins?
there is no market place set up in nexxus yet. how is the value going to go up in the near future to explain affiliate investment? without the 75% affiliate fees that are distributed in commissions, would Even A Single Person BUY GCR Cloud Mining?
GCR’s own lawyer kevin thompson, is not at all convinced about cryptocurrency MLM.
if the cryptocurrency is closed, company controlled, and internally traded, it is obviously a ponzi scheme [eg – onecoin]
if the cryptocurrency is open and manages to get on a public exchange, it’s value is often close to zero, so how can you charge people hefty sums and pay commissions to mine something with a value close to zero?
if at all an MLM cryptocurrency mining scheme can succeed, it has be run off an existing cryptocurrency with a somewhat stabilized price, and the mining costs have to be less than the cost of the coin, and the pay plan has to reflect this.
the GCR coin being put on the exchange just means the coin is real,it does not mean the business opportunity behind this coin is not fraudulent.
thompsonburton.com/mlmattorney/2015/08/19/bitcoin-cryptocurrencies-and-mlm-part-2/
How many coins have I to mine to pay $70 or more?
approx 2333 coins to break even.
And how many gcr can I mine monthly with 70$?
anjali you forgot a small matter Kevin Thompson also says.
That’s where Nexxus comes in once the merchant is signed up for the BTC / cashback reward and then introduce the GCR coin to them as there already accepting crypto currency.
anjali your right about the price so at the moment the most economical way would to purchase GCR coins direct from the exchange
yes, and once we figure how to create free energy, all humankind’s problems will be solved.
by all means, dream on about perfect scenarios, but that does not explain how GCR is taking mining investments in a recruitment based scheme, for a coin worth around 3 cents.
right now and for the past year, the only way for investors to make back their money is by recruiting others into the scheme.
how many GCR coins are you awarded for the 70$ mining package?
if your’e getting anything less than 2333 coins, then why will you use your coins for any shopping? wont you hold on to them till the price of the coins exceeds the mining value?
and if all GCR investors hold on to their coins, how will your ‘marketplace’ flourish and increase the coin value?
all GCR investors will do is hold on to these worthless coins and recruit others to make money.
your garbage coin is just a front and a lame attempt at legitimacy.
right.
so why will anyone choose to participate in the ‘expensive’ cloud mining recruitment side to receive these cheap coins?
could it be for the plush recruitment commissions?
Salvatore (Sasa’) D’Arco wrote in his fb page that GCR has entered the market with a value of $ 0.55.
Or this has happened only in his mind, or GCR collapsed immediately after entering the market.
the last trade of GCR on bittrex was at approx 3 cents.
The GCR coin is worthless, the bussiness is the pyramide scheme.
Tim , if it’s cheaper to buy the GCR rather than to mine them, why an investor should renew the package?
If no investor renews the package, the whole scheme collapses. Or can you wait that the value increases?
What scheme collapsing?? The ceo has even said whatever is cheaper to get the coin then you do that so that means buying from exchange.
Who cares about renewing a monthly package.
are you saying GCR marketing is shutting down?
then why has linda helin posted a video yesterday explaining recruitment bonuses and going crazy about them?
apparently its not about the value of the coin on the exchange but all about recruitment and earning bonuses.
tell linda helin, to tell everybody, to buy cheap GCR coins on the exchange and stop buying your sky high mining packages!
you seem lost, tim. do you know what your’e talking about, at all?
Bittrex hosted some scam coins like IBITS, DIBBITS and GLOBE. Is GCR another one?
Tim,the coin is worthless. Its value will never cover the fees you have to pay monthly. You can earn money only with the scheme.
Hey the story is still going on and on…… Good thing is that Gcr Coin is live…… New born baby….
If I try to convert the value of GCR in euro , the converter says ” enter a valid value .” I am serious !!!
The last trade on bittrex was 1 cent for 1 Gcr. How much have I to pay for a cup of coffee to Ruben y Sasa ‘s cryptocafe sponsored by Nexxus in Sevilla?
ha. GCR and sasa are not retards. they accept only cold hard cash.
the GCR coin is only used by the retarded ‘miners’ for buying their daily quota of kool aid.
Today last trade was 0,007$. Trash. A scam behind a virtual coin.
This company is toast.
Rumor has it that Linda Helin has been dumping her coins on Bittrex and getting everyone in her downline to buy her coins but there are not enough suckers in the world to beat the current sell wall.
If she’s lucky she may be able to get $40,000 from selling her 7+ million coins and buy a trailer home in Florida to retire in or have enough money to start her next scam.
Hopefully she’s lucky enough to survive the impending SEC and Texas SSB investigations.
There is a statement by Ruben y Sasa. Ruben seems to have just stopped crying.
If I were an investor rather call the lawyers. And there are arguments for doing so.
Theres some proper nobs on here Paul included. under 1 week of Trading you doughnut stop wetting your Alan Wickers.
About Linda , I think she will have a golden retirement.
Ruben and Sasa , in their statement , claim to be in the same situation as the other investors. Is it true or are they trying to cover their backs? And Bob?
And the lowest value enhanced by gold? There are a lot of arguments for the lawyers.
I read that with the package of 69,95$ you can mine 160-180 gcr monthly.
And given each GCR is worth less than a penny… 🙂
I have been a member of GCR since June 2015.
When I first joined I was under the impression that I was purchasing a POW cloud mining service (sharing computer power) and then when they changed to a POS coin I knew something was odd because I was not receiving any POS rewards on coins I had already accumulated.
In a skype discussion with Bob Wood I was told that the coins I was receiving was a share of an existing mining pool!! So coins I received as part of my monthly payment were NOT POW rewards nor POS rewards but it was a share of the pre-mined pool of 99million coins.
What I was purchasing with my monthly fee was a share of an IPO not receiving reward coins from actually mining!!
Deception #1: Claiming to offer a mining package when NO mining is taking place.
The mining is ALREADY done! That’s what pre-mined means. Can’t offer a mining package if there is no mining being done.
Bob asked me to provide suggestions on how I would change the website’s content without being deceitful.
I did provide him the suggested changes to their website which he ignored. I have a feeling he thought I would not bother to provide the suggestions!
Decepton #2 (FRAUD): My MAJOR issue with GCR is, when our coins are sitting in the GCR online wallet we are NOT earning the POS rewards that the coins are earning each and every day.
These rewards are going to GCR and they are NOT sharing them with its members!!
We own the coins yet we don’t receive the POS 5% reward the coin is earning while staking in their ‘cloud service’. We ONLY receive the due reward when we move our coins into our private wallets.
It should NOT matter where the coins are staking. We should earn the appropriate POS staking reward when OUR coins are sitting in the online pool (their cloud service) or in our private wallet.
The reward is rightfully OURS regardless!! Yet GCR is earning roughly 13,500 coins per DAY and keeping it all for themselves, when they should be sharing it with the rightful owners! That is fraud!!
It’s a real pity because I did feel they had the right idea with making it simple for the average person to get involved with cryptocurrency and the Nexxus platform may have worked but with ALL the deceit and fraud going on who can trust them now?
STAY AWAY and for those in it (like me) get out!
“THEY” are, I suppose, Bob Wood, Linda Helin, Mike Ward, Lisa Fields, Salvatore (Sasa) D’Arco?
What is the SEC doing?
They have always been a fraud. Bob Wood and Linda Helin have a history of scams if you look at the archives from this site you will notice that this isn’t their first rodeo.
Lol Bobswood Linda didn’t even know how to trade unless her Broker done it for her.
7 million coins be lucky and don’t listen to rumours makes you look stupid!!
Linda has always had a talent for letting people on about being ignorant so that she can get away with doing the things she is good at which is taking old people’s money.
Now Ruben y Sasa have been writing letters to Bob Wood to try and remove her and Bob is left to make a decision on who he can trust.
So Bob , Ruben y Sasa would be candid souls cheated by Linda? mmmm!!It is difficoult to believe.
Tim, people are asking about GCR at bitcointalk.org/index.php?topic=1157341.0
Get in there and start pumping it up.
What utter nonsense. Wouldn’t it make more sense to warn people of fraud and deceptive/false advertising? I suppose your pseudonym 0cents is a perfect fit for zero sense.
Thank you for your witness, Michael Vanston. I hope “THEY” ‘ll go in jail.
Thanks Jaime, I’m just sick of the endless number of companies entering into the network marketing industry that have little to no regard to ethics. They are ONLY concerned about making money regardless of how fraudulent or deceptive they are in obtaining it.
Worse still Bob Wood is fully aware of the deception and fraud (not like it’s accidental because of not fully understanding the new cryptocurrency industry) and has done NOTHING to rectify the issues that I have pointed out to him.
So if Bob (and the rest of them at GCR) won’t run the business in an ethical manner then it’s time to shut it down so that others don’t fall into their deception.
GCR disabled on Bittrex. May be “THEY” go in jail.
Reabled but it is not a good sign.
Sorry Michael, I need to practice my sarcasm …
Michael Vanston Yeah course you have lol you been in 3 months and calling the shots to Bob. Proper joker come back to me when you been in GCR a year!!
time will tell who the proper joker is.
but tim, remember to come back here after an year.
btw, are you purchasing GCR coins from bittrex now, or still being a proper fool and purchasing mining packages?
What difference does it make how long I have been in GCR?
Maybe you need a year to open your eyes up to see deception and fraud but I do not. It is right in front of you and you are not willing to open your eyes to see it.
If you are happy to have GCR steal the POS rewards that rightfully belong to you and other GCR members then so be it but I also have the right to open the eyes of others so they don’t suffer the same loss that you are willing to accept.
Further more, I am NOT calling the shots for Bob.
I was initially advising him of deceptive and fraudulent practices (read my post above) hoping that GCR would fix the issues and trade in an ethical manner. I wanted to build the GCR business and was in direct contact with Bob to achieve that goal!!
It was Bob who was unwilling to do the right thing and make the EASY changes (less than a days work) to turn GCR around into an ethical business.
And here you are Tim telling me off for wanting to turn GCR into a better opportunity for all!! And who is the joker?
Seems like ethics is no longer an important factor in running a business these days!
Oh sorry – now it makes ‘cents’ -lol
And now that no one renewed the package because it costs less to buy the coin from bittrex what will happen ?
Then we buy from the exchange and when the price of the coin goes up it will make more financial sense to renew the membership.
Hey Tim quick question. Since nobody is renewing their membership does that meant that nobody is recruiting others?
New packages arrive ! (for mining a 0.003 $ coin).
i wonder if kevin thompson is still the attorney on roster for GCR.
thompson’s articles on cryptocurrency clearly advice that the cost of mining should be less than the cost of the coin.
Looking at the GCR block explorer you can see that all of the 99 million GCR coins were pre-mined on the genesis block
chainz.cryptoid.info/gcr/block.dws?0000029a902be98f91a560164a472860b0328561c812a0b3875f72eced67943a.htm
So my question now is if all of the 99 million GCR that should ever be created was mined on the first block then what are the people paying for monthly mining packages actually getting?
Kevin Thompson works for whoever can afford his retainer fees. You too can have professional legal representative for your own ponzi schemes complete with Kevin Thompson’s picture and biography for the low price of $10,000.
He’s nothing but a ponzi enabler who will use every legal loophole he learned at law school to make a quick buck.
Many people who have been around for years are surprised this guy has not been disbarred yet.
You have raised a number of questions here not just one.
In my initial post to this thread I clearly pointed out GCR is NOT offering ANY ‘mining package’.
They are using incorrect terminology which is misleading to their customers. That is in breach of the Texas Deceptive Trade Practices Act. No attorney would disagree with that.
The problem is very few understand the cryptocurrency industry and GCR is taking advantage of that!!
When I discussed the deceptive advertising with Bob, he was very dismissive of it and never denied it. He told me he could use any terminology as long as it was clearly understood.
Well that might be the case but there is NO clear definition of what ‘mining packages’ really means anywhere on their site so they are deceiving their customers and are in clear breach of Texas law.
As I detailed in my initial post, all GCR is doing is SELLING coins that THEY own (from the pre-mined 99 million coins in the genesis block) to its members.
There is NO mining going on. I’m not sure if there is any breach of laws by selling at a much higher prices than the open market value but clearly GCR is deceiving customers by telling them they are receiving a ‘mining package’ when they are NOT which IS in breach of the law!
And while I am repeating what I have already stated I will mention again the biggest breach of the law is, GCR is STEALING POS rewards that rightfully belong to their members.
And once again GCR is able to do this without much complaints because hardly anyone understands the cryptocurrency market and GCR is taking advantage of that!
Investor nervous on Ruben Arcas’s fb page!!!!
There is also a video on youtube: is encouraged to conctact the creator of the video if you were scammed by gcr.
Paul you havin a laugh .. scammed you know Cryptsy has enabled GCR again for voting on new coins.
Obviously have realised its genuine and now will be on multiple trading exchanges .. keep on moaning!!
Yes Tim GCR is there on cryptsy.com/coinvotes under its old name “Global Coin Reserve”, along with 215 other coins.
Seriously even if the coin is genuine, in such a crowded market the chance of success must be very slim.
Tim is there any other online forum discussing GCR? Other alt-coins have many pages each on places like bitcointalk.org, where grc has one page! This forum is the only place I’ve found that seems to have regular comments. And that seems odd in itself. (sorry Oz!).
Genuine in what sense? Having blockchains doesn’t mean it has value.
I’m not sure why all the negative comments here? You all were first complaining that GCR was a scam and that it would never go public, then when it did go public you started complaining about other things.
Do you just not like the marketing method? or the sales leaders? or the competition?
The coin price is low, but that is the free market at work, that does not make it a scam. If GCR develops the unique programs it has been talking about then maybe the price will go up.
Regarding the GCR mining packages, I can clearly read on their website that they are not selling POW mining, but are offing shares in a private mining pool, similar to the initial distribution methods used by other Proof-Of-Stake coins.
They are not deceiving people to think they are selling POW mining.
It also appears that they are encouraging people to buy coins on the public exchange, and they are no longer selling mining packages, but other cryptocurrency related services apparently moving forward towards their goals with Nexxus.
Also regarding minting, it is a reward for being a node on the decentralized network and participating in the transaction verification process. All POS coins offer this reward for providing the verification work and not just because they hold coins.
You can see on the GCR Blockchain Explorer that many GCR coin holders have downloaded the free wallet software and are participating as nodes in the network and are earning minting rewards. GCR is not stealing anyone’s minting rewards, they just have to participate in the process to earn them.
Personally, it is refreshing to see a real cryptocurrency coin with the potential to do what other alt coins have not been able to do – to give people a good reason to buy and use their coin.
Will GCR pull it off? We will have to wait and see. But nothing they have done is a scam. They do appear to have had a lot of challenges, but they continue on.
It will help us all in evaluating these different coin opportunities if we stick to the facts in a professional manner, and refrain from the personal attacks and unsubstantiated personal subjections.
I try to verify everything I read to find out what is really going on. There are many different opinions floating around, some good, some not so much.
Will GCR succeed? We don’t know. but let’s give them a chance to prove themselves.
They’ve already surpassed the other alt coins with a similar marketing model by going public.
this was posted 30 minutes ago on the official GCR facebook page:
it appears the packages including the 3000$/pm package are still available.
currently and for the last year the only way for investors to make money in GCR is from the recruitment of fresh investors.
the coin may be real and all, but the marketing system attached to it, is a ponzi scheme.
the value of the coin, has nothing to do with what investors are engaged in.
how many coins do you receive for the 70$ package?
Bob Wood, Mike Ward, Linda Helin, Sasa D’Arco and Ruben Arcas are encouraging the purchase of packages. 100% scam, fraud.
All the new money and use it to commission business and new customers are deceived because the price is much cheaper GCRcoin in Bittrex.
There are internal discussions with company leaders and some have left the project. It is definitely a scam and five criminals organizing it to earn more commissions.
You must ask each one specifically to get any meaningful answer to that question.
My last post was #173, August 25 2015. I checked a bittrex.com link from post #169. And I asked a question about the 94.4% price reduction.
“Lack of enthusiasm” is a more correct description. The post itself was neither negative nor positive, it was focused on the facts.
The GCR coin price has many ups and downs like most coins first on the market.
I find it hard to believe there is a lack of enthusiasm with it’s very high trading volumes, many times higher than the others.
It is true, the free market determines the price, but that does not warrant the fraud claims made by many here, excluding M Norway and the other intelligent posts here.
do most first coins pay upto 78% recruitment fees for getting fresh investors?
the GCR marketing website says that purchasers of the 299.95/pm package get 1000 stakes in the mining pool.
does ‘stakes’ mean ‘coins’ ie do they get 1000 coins?
can you confirm, so that i may ask you my next question, if your answer makes it relevant?
Who did? or did you just made up a strawman argument?
The “lack of enthusiasm” was about my own post. It was neither negative nor positive. And neither was the other post I found, #135 (July 13 2015).
I tried to answer your question. That was all. I looked into the problem you described about negative posts.
For the GCR price, I decided to “give it a chance”. I have checked it a couple of times after August 25, but I didn’t bother to post anything.
You just admitted they are offering an unregistered (and thus illegal) security.
So why are you blahblah-ing about why do we see it as illegal, when the facts are in front of your eyes?
They are not selling stock shares as K Chang is implying, but pro-rated sharing of a private mining pool.
That’s a big difference and is very similar to how all mining pools share the rewards on a pro-rated basis. The number of coins rewarded is not guaranteed.
This comment was for the post claiming that GCR was deceiving people to think they were buying POW mining.
that’s what ‘go public’ is. shocking you would lie to protect your scam.
@Crypto
If your accepting investments and aren’t registered with the SEC, yeah it does.
Quite obviously the mining packages are securities – so tell us, is GCR registered with the SEC?
You invest $x on the promise of a passive greater than $x ROI.
That’s a securities offering. So again, is GCR registered with the SEC or are they engaged in securities fraud?
Offering investment products to the public places the activities of GCR within the purview of the authorities whether stock is involved or not.
What you call a “private pool” is not deemed to be private under the law if units or shares have been sold to the general public without license or exemption.
Nor does it matter if the so called private pool is trading legal coins on a legal national exchange. If the company accepted money from investors without complying with the strict requirements of securities law it would still be operating outside the law.
I have no way of knowing if GCR has met the requirements of securities law or not but there is no license or exemption that I am aware of that would permit a company to sell fractional interests in an investment pool to innumerable, unsophisticated and unqualified investors.
If that is what this company is doing, then it will not last.
Fist of all it is NOT like other initial distribution methods of other coins.
The developers of the other coins tell the TRUTH. They tell you that you are buying the coin they DON’T LIE to you by pretending that you are receiving a ‘mining package’.
The term ‘mining’ refers to a POW reward!! It does NOT mean anything else!
You can’t say mining package because there is NO mining be done. Why is this so hard for others to understand?
So by GCR stating they are offering a share in a private MINING pool is incorrect. Deceptive advertising (breaking the law) that Bob Wood has chosen to continue with even though it is VERY easy to change.
Why the smoke and mirrors why not tell the TRUTH?
WRONG!
It is NOT the node that earns POS rewards it is the COIN!!!
Members have their coins sitting in GCR’s online node. It is the members’ coins that are earning the POS rewards.
GCR is keeping the rewards from coins that are OWNED but its members. The POS reward they are receiving does not belong to them. It belongs to the members who OWN the coins.
That is stealing no matter how hard you try and wish it away.
Do your research and you will see that every other POS minting pool out there pays out the reward to those who contributed to the pool.
This is an easy fix (I’m a programmer) would take 5 minutes to write a script that would add the daily rewards to each member’s online account and again Bob has chosen NOT to do this probably because he wants to sell these coins that don’t belong to GCR!
As for the blockchain showing people withdrawing coins into their private wallets.
How stupid do you think I am?
All it shows is that 58 million was taken out of the main account and moved into other accounts (that belong to GCR) in an effort to hide the fact that they are indeed stealing the rewards that rightfully belong to their members and this was done in less than 1 hour on the 26th August (7:24 – 8:09).
That is NOT people moving coins into private wallets. Good attempt to hide the TRUTH!
If you go to the rich list of the blockchain explorer you will see it has established the original account also has 88 other accounts and in total comes to 61 million coins.
Wow. I didn’t understand exactly what you said there Michael but it sure sounded good.
If it’s sold for money and it has potential of return, it’s an investment. Go look up SEC vs. Howey instead of your fantasy definitions.
Real mining pools only share CPU power. If you have to “buy in”, it’s not a real mining pool. In fact, a Bitcoin expert (one of the top developers) already said so. You can look up who yourself.
GCR price has open approx $0.37 at initial ,but i have seen this coin has no any potential because it’s price is being continue down…down….down…
it has indicate this GCR coin can not survive in market in future. because this coin price will be more low and last will be vanish…..
i think that is not like bitcoin…BTC is a unique technology. no any coin can equal to them.
GCR will be finish within approx 2 or 3 months.
I don’t know about the technology but getting to the market first as Bitcoin did gives that currency a huge and perhaps enduring advantage.
Reading the fb page of Ruben Arcas and following the links posted by an investor who writes , you can realize how the investors were cheated by Ruben Arcas and Sasa D’Arco (and Linda and Bob).
If it is true, Jordan is right: they are real criminals.
Contrary to at least one poster’s beliefs here, taking a coin public is not the same thing as a company doing an IPO and selling stock in the company. Taking a coin public is making it available for trading on a public exchange.
Also contrary to another poster’s assumptions, if you hold a POS coin you do not automatically get minting rewards. You have to earn the minting reward by doing the transaction verification work. That is what the reward is for.
If you are holding POS coins in an online wallet like Bittrex, Poloniex or Cryptsy, they do not automatically give you a minting reward. If you’re not sure, go try it with one of those online wallets and see what they give you.
The comments about selling investments are interesting and probably apply to all cryptocurrency coins. Maybe that is why GCR stopped selling mining packages, who knows.
POS coins pose an interesting dilemma in that the transactions are verified by the coin holders themselves. But how do the coin holders get established in the first place? There are several techniques used by various POS coins.
Some use POW for the initial distribution (Peercoin), some have sold their initial coins (Etherium), and others have done donations or pools to establish the initial coin holders.
Regardless of how GCR chose to do their initial distribution, I find it more interesting how they are proposing to drive the value of the coin up by creating buyer demand with a reward to the consumer using cryptocurrency.
Can GCR actually do it? We’ll see in time.
I’m assuming this statement is directed at me. I NEVER once made any comment that disagrees with your statement above!!
I suppose I will have to repeat my comment again (now the 4th or 5th time!!)
GCR is earning POS rewards this means GCR is verifying transactions and adding new blocks to the blockchain. You have NO argument there from me.
BUT the stake (coin) GCR is using comes from coins that have been purchased by its members. The stake used to create blocks and earn rewards is owned by all the members!!!
Hence the rewards being earned by the stake holding should be (legally) shared amongst the stake holders.
ie ALL the members that have coins sitting in the GCR minting pool are entitled to receive their rightful share of the POS reward. It is their coins doing the work NOT just GCR’s.
Yes, it is GCR’s node but NOT all their coins (stake holding).
It is the STAKE (COIN) earning the POS reward that is where the term Proof of Stake comes from.
en.wikipedia.org/wiki/Proof-of-stake
From what you are implying we need to change the terminology to PON (Proof of Node) which is ridiculous to say the least.
How much clearer do I have to be for you to understand this?
Huh?
You made a comment in an earlier post about intelligent replies from others. Well, maybe offer some yourself in order to receive it?
What an absolutely silly comment to make.
I thought you would be smart enough to understand that POS rewards can only be earned if the stake is sitting in an online active and synced node!!
Why would I try and earn POS rewards from a trading cryptocurrency platform?
I am amazed that you would even try to equate the two. They are two completely different platforms!!
Is this another futile attempt to misdirect the readers here to the FACT that GCR is stealing POS rewards from the rightful owners?
As far as I can see they are still selling mining service/packages.
Throughout the entire website there is deception.
It stated everywhere that you will be receiving a MINING service(or package).
That is incorrect! False advertising! Breaking the law!
As I have mentioned many times before I do not have an issue with GCR wanting to sell pre-mined coins which is clearly what they are really doing.
My issue is the deceit, telling the general public they will get a mining service when they won’t!!
I just fail to understand why the lies, why the smoke and mirrors, why not just tell the TRUTH?
All of theses issues can be fixed within ONE day!! But Bob refuses to turn GCR into an ethically run business.
I was not aware that the GCR coin wallet was a staking wallet. It appears to be a wallet to hold coins like Bittrex, Poloniex and Cryptsy. There is nothing in there documentation that states the coins are minting.
GCR does clearly communicate exactly how a GCR coin holder can download the wallet to become a node on the network to earn the minting reward.
All the communication I’ve seen has been encouraging and training people how to do this. I’m not seeing any deception by GCR to attempt to steal their minting rewards.
I agree with Michael, If GCR is telling people on their website that they are receiving POW mining rewards, then they absolutely must change that. But I have not seen anything on their website or in any of their information that is misleading people to think they are receiving a POW mining reward.
I am merely an objective observer. I am not seeing the deception claimed here.
I agree that the term “mining” is usually reserved in cryptocurrency for POW mining and GCR probably needs to change that terminology. But I don’t see that GCR is trying to trick people by using the word “mining” when they clearly state what they mean by their use of it – sharing in a daily pool of distributed coins.
I guess I have not been involved in this conversation as long as many here, and I’m probably missing the emotional charge behind many of the posts here.
I’m seeing a lot of opinions expressed here not unlike everywhere on the Internet. I prefer to look beyond the personal opinions and personal agendas to look at the real facts.
It seems some people here are all bothered about how GCR is doing their initial distribution for their POS coin. We are all on the same cryptocurrency team.
We all want cryptocurrency to be accepted and adopted by the mainstream public. So far none of the alt coins have figured out how to deliver real value to the public.
The only real reason why anyone would buy an alt coin is for speculative trading. GCR is proposing a new business model that looks very interesting if they can pull it off.
The are providing a financial incentive for the development and promotion of cryptocurrency. And most importantly they are proposing a financial incentive for people to use cryptocurrency.
I’m not going to prematurely blast GCR because I don’t like the terminology they use, or I don’t like the sales people involved, or I don’t like marketing method they use, or I don’t like the competition against some other coin I might be promoting.
GCR has proven to be a real cryptocurrency coin unlike some other opportunistic coins being promoted.
The true believers in cryptocurrency should recognize the new emerging industry that we are in. There have been and will be many challenges to be solved and many lessons to be learned.
This is a laboratory of ideas that will only help the industry to accomplish its goals of moving cryptocurrency into the mainstream.
I will continue to patiently examine the different business models to accomplish the cryptocurrency mission. For now, GCR looks like an interesting option. We will see…
GCR, “Global Coin Reserve” has disappeared from cryptsy.com/coinvotes, last time I checked yesterday they had about 60 votes.
That is my whole point! That is why I am here letting people know of their deception.
Why would they tell their members they have stolen rewards that belong to them? They are unlikely to admit that are they?
The great thing about a block explorer it is hard to hide anything from the public.
The first page tells us the number of coins in distribution which is roughly 99,700,000
As 99million was initial pre mined amount this means the balance of 700,000 coins have been issued through POS rewards.
The 700,000 rewards coins have been earned by members coins that are sitting in the GCR minting pool.
But yet GCR has kept ALL of these reward coins for themselves and NOT sharing the rewards with the rightful owners.
Search the block explorer and you will see the POS rewards have been rewarded daily from the instant the coin was live.
It tells you everything there! When the stake reward was paid how much was paid and what account received the reward.
You don’t need to take take my word for it. It’s all there for EVERYONE to see in black and white on the blockchain!!
And this is ALL long before the private wallets where available. GCR has kept all of these rewards for themselves!!!
So what? Just because a member can NOW mint on their own does NOT negate GCR’s responsibility to share the rewards they have received using other member’s coins.
GCR still has that duty of care for those that have NOT taken out their coins from GCR’s minting pool.
GCR should still be sharing the rewards who have yet to do this. Maybe the member is not that tech savvy and is unable to do as instructed.
GCR should NOT be taking advantage of these people and stealing from them. GCR should be sharing the POS rewards there is NO excuse for NOT doing so!!
You are contradicting yourself!
MINING means earning POW rewards. People don’t mine for any other reason, they want the reward.
So when GCR uses the word MINING that implies everything that comes along with it, including the obvious mining reward!!!
Really another silly comment on your part probably more misdirection to try and throw the readers off
I’ll repeat
MINING is incorrect, there is no MINING being done it has all been MINED (past tense)
By stating there is mining or mining pool or mining service or mining package or any other use of the word MINING is a LIE, false advertising, breaking the law.
And if you can’t see the word MINING used throughout the site then sorry I can’t help you there.
where do they clearly state that? I must of missed that
Yes I agree with you on what GCR was planning to do with Nexxus it would have made it stand out from the bunch but unfortunately they have decided to trade in a very unethical manner with lies, deceit and stealing so I do NOT trust anything else they say.
Once again these are easy issues for GCR to fix. Instead of wasting time here posting ‘flowery’ comments on how good GCR might be why not spend your time to have these issues fixed!!!
Thanks Michael, It looks like GCR has taken your advice and has removed “mining” references from their website.
I personally wasn’t confused into thinking that I was receiving a POW mining reward. I knew from the GCR website that I was sharing in a daily distribution pool of coins.
I’m not any smarter than the average person and I wasn’t deceived.
I know that until recently, before the current POS version of the GCR coin, GCR was doing POW mining and was sharing the mining rewards in a pool.
Now that they have recently transitioned from a POW coin to a POS coin it is good to see that they have updated their information to avoid any possible confusion.
I personally didn’t have a big problem with this transitional information.
I’m still thinking on your comments about stealing minting rewards. Wouldn’t all the other wallets like Bittrex, Poloniex, Cryptsy, etc. that are holding people’s POS coins also be “stealing” their POS rewards?
I have GCR coins in my Bittrex wallet and Bittrex is not giving me any minting rewards on my coins? Is Bittrex stealing my minting? This “stealing” argument seems to be a theft by the whole industry according to the stated assumptions.
We can’t tell from the Blockchain Explorer where the minting rewards have been earned from. Almost half of the total coins are actually minting in network nodes outside of the central wallet.
It sounds like a big assumption is being made that GCR is earning minting rewards on the coins in the central wallet. We really don’t know.
Even so, I have not seen anything in the industry that says a central wallet that stores your POS coins is required to give you a minting reward. Minting is a reward for verifying transactions.
A POS coin holder only deserves to earn a minting reward if they are participating in the transaction verification process. Just holding POS coins is not minting, they have to do the work.
Professional constructive conversation is always appreciated, but personal attacks don’t really benefit the conversation.
I’m sensing some other issues with GCR here. Most people I talk to don’t get so bothered about these things.
I have not seen any reasonable attempt by GCR to deceive, lie or steal. Although I have seen a lot of misleading information throughout the industry about how this coin or that coin is going to make you a millionaire overnight just like bitcoin. Now that I consider to be truly deceptive.
^^ So how about you stop posing as a GCR affiliate and start posting as Bob Wood?
Can we drop the silly deceptive facade already…
X Bob: can you tell us what is the lowest value for the coin guaranteed by gold? More or less than 0.02$?
Thanks Oz, I’m flattered, but I am a real GCR customer. I guess I’m not really an agent because I’ve never referred anyone to GCR.
I’m thankful for forums like this one that are honestly seeking the truth and researching the facts.
Anyone can voice their opinions here, and some of the posts are actually based on facts. But many are just personal opinions from people with personal agendas.
I collect information from multiple sources to verify the truth, including the company published information to see what they are really saying. There is so much misinformation from over zealous salespeople and from GCR Opposers.
I’ve seen the many personal attacks claiming that GCR is a scam, and is not a real cryptocurrency coin, and will never go public. But then I see the GCR coin really does go public and is a real cryptocurrency coin. But the attacks don’t stop and probably won’t from some people regardless of the truth.
Oh well, that’s just business and human nature.
I’m more interested in the potential opportunity with a real cryptocurrency coin that has a real plan to move the industry forward.
I always encourage people to not believe everything they read, but check out the facts for themselves. Find out for themselves what the principles of real cryptocurrency are and make their own informed decisions. Verify all information.
Please, let’s continue this discussion in a professional respectful manner so that all may benefit from the conversation.
Why were you using what looked to be a GCR corporate email address to leave commnts with then?
That is not typical customer behaviour.
Too funny Oz.
Judging solely by the what numerous venture capitalists are saying, the value proposition lies in an encryption technology that permits the establishment of a record that can never be changed.
VCs are taking positions in various ‘coin’ companies for that purpose even though the coins themselves are seen as irrelevant (for their purposes).
So it may be better to find the best technology company that issues coins, than the best MLM company that mines or trades coins.
CryptoSense, I also suspected you to be Bob Wood, same writing style, same double talk, same misdirection techniques, same advice Bob has given on calls, same avoiding the facts and same dismissive attitude towards unethical behaviour.
In fact your one comment in a previous post about using incorrect terminology was almost word for word the same as how dismissive Bob was to me when I first raised the issue on skype with him.
So if you are not Bob then you must have his writing handbook right alongside you.
Let Bob know that is great news that he has finally decided to do the right thing and have the site content changed.
Now just get him to fix the stealing!
OZ and Michael why can’t you answer Crypto Sense question regardless if it is Bob or not. I think he makes a very good question here:
Guys first at the beginning you were all criticizing that GCR will never go public and it is not a crypto currency and now that it has gone public you are still criticizing it.
The coins only got released a few weeks ago so give it time till the price goes up. I heard that it took Bitcoin more than a year or so till it finally reached a respectable price.
All I see in this forum is all negativity and no matter what program is launched you attack it straight away without giving it a chance.
I bet you guys if GCR does reach a good price you will still be here attacking it no matter what because that is your nature.
Are you serious?
GCR is stealing your POS rewards and you want me to answer a hypothetical question that is unrelated to what GCR is doing?
I am concerned about the unethical behaviour of the GCR business model. I wanted to build the business and was shocked to find out they were stealing rewards from ALL their members.
I have no interest (at this stage) if trading platforms are stealing or not. My interest is with GCR and so should yours be.
Have you read any of my posts above.
I have given the FACTS on how GCR is stealing rewards using YOUR coins that are sitting in GCR’s node.
The blockchain explorer CONFIRMS this. The evidence is there for anyone with their eyes OPEN to see it.
CryptoSense (whoever he really is) is using the old fashioned misdirect techniques where if you can’t win an argument just throw in unrelated irrelevant questions hoping to have readers focus their attention on the misdirection rather than on the facts.
Looks like it worked in your case.
I have already covered that in post #234 and #238 — replies to post #231.
I checked both my own posts (#135, #173), and CryptoSense’s description seemed to be highly exaggerated. 🙂
You can’t expect everyone to check their own posts for “negativity” in a 250+ posts long thread. And you can’t expect people to share a single identity either (“you guys”, etc.).
But I can agree …
Oz did show some “negativity” in post #168 (August 22nd 2015), when he didn’t quite accept chainz.cryptoid.info/gcr/ as a source. 🙂
@William
I have no issues with Bob Wood posting here. I’d been letting the conversation play out knowing it was likely Wood posting as Crypto Sense. Even with the whole “I’ll relay your comments to management”, “hey guys looks like management acted on…” facade.
When he started going on about deception thought I thought that was a bit much.
If you read the review your commenting on, at the time GCR was very much engaged in an unregistered securities offering.
They still are if affiliates are investing funds in exchange for points (GCR or otherwise) which they expect to passively increase in value and generate a ROI.
MLM and these sorts of business models fail at compliance.
Cynicism. Negativity is for emo chumps.
My own posts indicated a “lack of enthusiasm”, in both posts. 🙂
But the next time anyone complains about negativity, then you already know what they’re talking about. Post #168, Aug 22nd, 2015 at 5:48 am will most likely be the cause.
This is what GCR distributors promised in February 2015 and tell me if it is a scam or not:
globalcoinreserveindia.blogspot.it
Hey Michael, I understand your position that you think GCR should not have tried to apply a different definition to the word “Mining” because you felt that it already has an absolute definition and can only ever be used to refer to POW mining. I get that, you are surely entitled to your opinion.
I’m puzzled why now your purist perspective does not apply to the word “Minting”. Every expert, including you, knows that minting is the reward you earn for verifying transactions for a POS coin. That’s the absolute definition – end of story.
But somehow now you want to redefine minting rewards to be given to any coin holder regardless if they are doing the work or not.
No one in the industry gives minting rewards for just holding POS coins. So it appears to be a weak argument on your part that you think GCR is stealing minting rewards only because you want to redefine the meaning of minting.
Every POS coin holder has the option to participate in the transaction verification process and earn minting rewards. It is an option if they want to do the extra work. It is not a free gift. Those that do the work earn the reward.
Please help everyone understand why you are so adamant about the absolute definition of “Mining”, but so easy to redefine the true definition of “Minting”?
I would prefer to keep these conversations professional and non-personal, but I was just curious why the sudden change in attitude about cryptocurrency terminology?
I apologize if I have offended anyone here. I’m just trying to understand and communicate the truth and get past the personal attacks and agendas.
You may not like some things about GCR, but it is a real cryptocurrency coin under the pricing control of the free market and is attempting a new experiment of putting a financial business model on top of the innovative cryptocurrency technology.
Emerging technologies undergo many experiments leading them to maturity.
Of course we will see if the experiment works, but at least give it a chance.
Well said Crypto or Bob. I fully support you mate
Wow! I’m the one with a sudden change in attitude about cryptocurrency terminology, even though it was Bob who just recently changed the site’s content!!!
Right from my initial post I have been consistent. Nothing has changed.
GCR is using member coins collectively in a pool that are actively working and earning POS rewards.
But instead of sharing the rewards with their members who are the rightful owners they are keeping it ALL to themselves.
The blockchain provides the evidence that this has happened and still is happening.
When GCR started , what was told to investors is: “mine our coin and when this will be on the market it will be worth a fortune and you ‘ll be rolling in money”.
Things did not go so.
Now you say “Nexxus will have life” , “Merchants will join” etc etc. Question is: why do to continue to sell packages of $ 1,000 to continue mining a coin worth $ 0.02?
Jaime, I believe that you will find that the promoted messages you referenced were not delivered by the company, but by over-zealous sales people.
We have seen several messages from the company denouncing this kind of communication and threatening compliance discipline.
The company discontinued selling “mining packages” after going public and is now focused on business packages for the development of the Nexxus program. The company is actually encouraging all it’s agents to buy GCR coins on the public market.
The price is a reflection of the free market, which is a good thing. It not only proves that the GCR coin is a real cryptocurrency, but it also provides an opportunity for believers of the GCR mission to acquire GCR coins at a very low price while it lasts.
GCR is doing something that no other alt coin has figured out, how to financially incentivize the development, promotion and use of cryptocurrency with a solid business model on top of the innovative cryptocurrency technology.
The Nexxus platform promises to move cryptocurrency from the digital world to the real world with Crypto-Cafe’s in every community, Crypto-ATMs, and the Global Rewards Community that gives consumers a reward for paying with cryptocurrency.
Almost all other alt coins have no practical use outside of speculative trading.
Cryptocurrency will never move into the mainstream public until it has a good reason for people to buy and use it. Nexxus promises a commerce benefit for using cryptocurrency.
It’s a bold step in a unique emerging industry, but if they can pull it off they may have something that could be financially rewarding for the early adopting visionaries.
Followed by;
…which sounds exactly like you are urging them to buy on speculation.
…and why not…because otherwise the market value of the GCR coin would go to zero from lack of demand. Who buys a token useable virtually nowhere except as a wild speculation?
Ok Bob. But why are Ruben y Sasa and others still selling packages from 70$ to 1000$? Why do they hold webinars that encourage the recruitment scheme?
The GCR Coin has 2 major market distinctions from other alt coins, 1. a leveraged marketing force and 2. a value builder.
The leveraged marketing force is the engine behind the development and the promotion of the GCR coin. They are financially incentivized for their contribution. The behavior that they are incentivized for changes as the GCR coin evolves.
Initially the focus was on the POW mining and then the initial distribution for the POS version of GCR coin. That focus is now shifting to the Nexxus solution and the related education and transaction services.
That is the focus of the new business packages. The leveraged marketing force is what is missing from most other alt coins.
The value builder is the good reason for people to buy and use the GCR coin. Nexxus is the value builder and the commerce benefit for the mainstream public to use cryptocurrency.
A true value builder is what is missing from all other alt coins. Other alt coins are just speculative trading games without a real business plan to build value other than short-lived pump-n-dump schemes.
Nexxus will fully supporting bitcoins along with GCR coins in all its transactions to provide a broader income opportunity for the leveraged marketing force to continue promoting GCR coins.
These business elements have been proven in other industries, but it is the first time it has been done with cryptocurrency.
GCR just may be the first player to bring cryptocurrency to the mainstream – building real cryptocurrency value by creating buyer demand with an exclusive commerce benefit.
Everyone can win with this business plan, the merchants, the consumers, the independent agents, and the GCR coin holders.
Here Ruben encourage the recruitment scheme:
youtube.com/watch?v=oOL2n9sE1gM
@CryptoBob
Was any action taken against said “over-zealous sales people”? Are they still in GCR?
…or is GCR compliance a joke?
Sorry, CryptoBob: I still do not understand the meaning of a package of $1,000.
Probably my fault that I can not reach
Come on ,Oz ! Now you can write :”Nexxus Reward Review: a 1,000$ of…?”
All of the 99 million GCR coins were pre-mined to one single account at the genesis block. There’s no actual staking or mining involved.
GCR is just distributing coins on an hourly basis to the members who believe they were paying for mining packages. There’s no actual pool mining taking place and they are essentially selling unregistered securities to members.
In fact there’s actually no mining taking place at all and the entire proof of work function has been turned off from their source code.
github.com/globalcurrencyreserve/gcr
The SEC would love to hear more about them selling unregistered securities.
We are quite certain that GCR has not filed their annual corporate reports nor have they filed any corporate state or federal income tax returns.
No GCR member who are US residents or citizens ever received any 1099-MISC for the commissions they earned in 2014 nor have they reported payments/commissions made to their overseas/foreign members.
Really Bobs Wood? I wonder why you would call yourself like that as I assume you must have a private agenda against Bob.
Tell me Bob’s can you show us any proof at all in what you are saying as I know a lot of people like throwing things out just so they can impress people and have nothing to back themselves but I’m sure you are an honest guy not like the rest right?
Love to see your proof mate.
It is several days that the value of the coin is 0.01 $.
Yeah it’s wicked im going proper long on GCR must have bought over 100,000 last couple days cost me 4 BTC .. sweet i’ll rinse out the professional traders.
You should normally “buy low / sell high”. Did you sell anything before you started buying?
I don’t really see any point in “rinsing out professional traders”. The main point should be to have GCR accepted by other people than GCR-members, not to try to “rinse them out”.
Damn. Way to go. You cornered the Gemcoin market and spent less than $1000 to do it.
Something to consider.
Scammers want discussion on the product which in this case is cryptocurrency. It plays into the ego of the victim even though he is unaware of this. Intelligent analysis of markets, mining, coins, etc. just sounds so, well, legitimate.
Oz quote on Bob, “Both opportunities primarily focused on recruitment of new affiliates (CloudZow did have a token retail offering), with both having since shut down.”
You people have a man in an orange jumpsuit trying to sell you a stereo in a sealed box. Should we really be so focused on how many amps the stereo puts out?
You can do the same thing again tomorrow and everyday thereafter until you run out of money.
Wow! This has gotten way out of hand. Fortunately we have a moderator that is an industry advocate focused on revealing the truth about the good and the bad in the industry, and not putting up with the nonsensical twisting of the facts.
For those of you who care, here are the facts about the 2 companies that OZ referenced that Bob Wood was associated with.
My company, Pinnacle Institute provided the systems for both companies, CloudZow and Zazzed, as it has for over 30 direct sales companies.
CloudZow was owned by Robert Carpenter and provided a Cloud Backup Service for PCs similar to Carbonite, Mozy and others for a cheaper price of $5 per month per computer.
That’s hardly a token product. The company operated for a couple years and was closed by Robert Carpenter.
Zazzed was owned by Bob Moore and provided fuel additive products for the same prices in retail stores. Again, hardly a token product.
Zazzed closed because Bob Moore died in the hospital a couple years ago. Two of Zazzed’s top distributors picked up the product line and launched their own companies, and hired my company do build their systems.
Guys, please stick to the facts. You are only making yourselves look bad by posting unsubstantiated misinformation.
yet you keep insisting imaginary currency exists.
Bob, is Gcr backed by gold?
Whip, it sounds like maybe you are not current on the latest information. The GCR Coin is a real legitimate cryptocurrency coin on the public exchange with it’s own block chain, downloadable wallets, block chain explorer, and decentralized network of transaction verifying nodes.
Like all legitimate cryptocurrencies it’s price is under the control of the free market.
You can purchase GCR coins on Bittrex.com. You can’t miss it, it is usually near the top of the list as one of the highest trading volumes on the exchange.
You may want to join the other coin holders that recognize the unique distinction GCR coin has over all the other alt coins, with a true value builder that will give people a good reason to buy and use GCR coins for an exclusive commerce benefit, which will drive buyer demand and build real cryptocurrency value.
The price is in a very favorable position for the GCR coin holders to acquire more coins looking toward its potential value in bringing cryptocurrency from the digital world to the real world.
Hope that clears up any misunderstandings for you.
It seems like Bob is just parroting the same old and tired marketing line. He keeps talking about creating real cryptocurrency value without actually explaining how Nexxus or GCR plans on accomplishing this.
Linda is now in hiding after GCR coin, thanks to their efforts of creating real cryptocurrency value, has tanked to less than a penny on the only exchange that allowed them to list.
There was a chat where GCR leadership is now blaming the users for “forcing their hand” to get the coin public as the reason for the price drop from 30 cents to less than a penny in less than a month.
There are also allegations of Linda and some of the GCR leaders being caught up on insider trading and price manipulation. All in all it doesn’t seem very good for these people.
BobsWood Stop talking out your arse you MUG. Are you that clueless about trading nobody is even bothered about the starting price lol.
The value is lower and lower. But it is backed by gold. Or not?
Then you are well aware of their failure rate not only for the companies that have shut down, but the losses to affiliates.
Yet, here you are heading up a recruitment based operation. Well, of course you are – given your ‘experience’.
Quiet guys! Affiliates have lost their money, but Bob , Linda , Ruben y Sasa earned their money.
I cannot believe all this BS coming from Bobs Wood as he makes himself think that somehow he has inside information and tries to make himself the centre of attention.
These are the people that start creating false innuendos and they bring down programs or for that matter someone down as some people start believing in his crap.
I’m one to be heavily involved in GCR and I can assure you as God as my witness that GCR is genuine.
We have a lot of things happening in coming weeks to bring the value of the coin quite high and we have Nexxus which will come out in a few months as well.
This Bob’s Wood ( why does he call himself like that) is not even involved in the business.
Because if he was then he will know what is going on and if he is involved then he must be one of the losers who never achieve anything in the program.
And for that matter never achieved anything in anything but he has achieved something in being the biggest loser.
Right, because that’s how cryptocurrencies work. You just manipulate the value on your end…
Really? Manipulate the price wow. Thanks for letting us know OZ.
This week when I will let them know that mate and tell them to just throw all the hard work they put in and just start tricking us suckers and make us believe that we are investing in real value. Wow brilliant idea Oz.
Jesus Oz I thought you were better than that mate but then again this is your blog and this is the way you work to attract naysayers in your blog.
Well you are doing an excellent work mate and to think I thought you were a winner but end up just like the rest. Totally disappointed.
Don’t thank me chief, you said it yourself:
Give yourself a pat on the back for totally misrepresenting how the value of a cryptocurrency works.
Yes, everybody loves BehindMLM… till we review their opportunity.
In other words, it’s always someone else that’s illegal. It’s never me.
If GCR is doing so well then how come GCR has not yet paid their original cryptocurrency consultant the $120,000 they have owed him?
Maybe you should tell Anthony why he was never paid. Don’t you think that if he would’ve taken them to court if GCR did anything wrong with him?
GCR is actually currently in collections with the debt and they are waiting 60 days after the start before a lawsuit can be filed so it’s coming.
According to Anthony the collection agency looked at Bob’s credit history and it turns out he already has several judgements against him that are still unpaid from other business dealings so the chances of Anthony’s company collecting is very low.
Even Kevin Thompson has told Bob to pay but Bob has been stubborn and thinks he can get away with it.
^^ Please don’t post comments under multiple aliases.
As you can see now this Bob’s Wood is totally making things up to make you believe what he is saying is true. We was just caught out using multiple aliases.
This guy might just be Anthony himself.
@william, on a recent corporate call, linda helin threatened to break down into some hoarse sobbing, because GCR is apparently losing the faith of it’s investors?
are investors feeling cheated due to the near zero price of the GCR coin? after all, you promised them a ‘free market’ not a ‘zero market’.
I know how you feel for the price being so low as I too was worried but we are formulating new ideas that will be announce soon which will push the price high and no it is not price manupulation.
I’m sure the owners are not going to sit around and not do anything as there is a lot of money in stake here.
This is a new company so there are bounds to be a lot of challengers at the beginning. Keep the faith is my moto.
First BehindMLM GCR review was almost a year ago.
How is it a new company?
Oz it was in prelaunch mate but now we are live. That’s what I mean mate. I think you can work it out.
No I can’t… GCR launched in 2014, it’s not a “new company”.
yeah, now that the GCR coin is live and valued at about a cent, bob wood cannot sell expensive mining packages any more.
so apparently GCR marketing now sells ‘educational packages’ and the recruitment commissions continue.
at some point in the future, GCR will probably start selling ‘nexxus packages’ for merchant acquiring, and keep the recruitment commissions running.
bob woods has a plan to suck off as much recruiting ponzi as he can, on the back of a one cent coin.
GCR coin is currently deactivated on Bittrex because of a buggy GCR system and the GCR leadership was trying to blame Bittrex’ doing maintenance until Ryan from Bittrex clarified things:
This has now turned into a total shitshow as predicted.
since GCR pays out upto 75% of collected funds as commissions, it must be hiring bottom of the barrel talent to set up its wallets etc.
they were unable to pay anthony eufemio too, who initially set up their coin for them.
At least they can pay Kevin Thompson enough money to forget that he doesn’t like Bob.
It is appalling that the GCR LEADERS have blamed Bittrex for this MESS…and a mess it is.
What a flipping nightmare of a situation.
Coin is flipping Disabled.
Also, in reality the coin is only 3 months old so therefore is the company only 3 months old. REmember that after they did not pay Anthony they started another coin which had 48 Million mined and then I think the one we are at now with 99 million.
think about that .. 99 Million Coins and there are like 70 Million already spoken for….for a Coin that is LITERALLY 3 months old.
Its comical at this point…Laughable , Comical, Jokeable, Sad, Reality,
How can you continue to have lInda as a spokesperson for the company…..It is literally PAINFUL to listen to her speak…..ouch.
Rule 5 of the 5 rules of bull****ing… Always delay day of reckoning. Blame something, somebody, anything, anybody.
No, I didn’t make this rule up.
NOLINK://www.psychologytoday.com/blog/addiction-in-society/200905/bullshitting-lessons-the-masters
Guys.. This coin has only been live for like a month or so.. Of course there will be Highs and Lows….Lets give it time and see what happens. I for one never expected it to go really high at first…..it needs time.
So lets relax and dont do it…
What had it done to deserve your money and attention though?
Or is that a Bushism manifesting itself, i.e. “stay the course”?
Maybe it’s just your “sunk cost fallacy” playing tricks on your.
Have faith, give it time,it’s your fault,stay positive,don’t be a naysayers,trust me,invest longer,believe.
…stay positive AND PAY PAY PAY PAY for the scheme.
GCR $ 999,95 package:
I don’t understand what they are selling for $ 1,000
This:
Can I buy or sell if the wallet is disabled?
Yes Paul but i don’t think id like to keep all my coins on Bittrex. Move mine straight out.
Global Currency Reserve is now #44 on CoinMarketCap coinmarketcap.com
we are now ranked 35 in the world from 685 coins. Where are all the naysayers gone?
Am I missing something?
Market cap was a steady $0 until October 13th, when it suddenly shot up to $698,796.
Then it jumped up to $1.07 million in 2 days (October 15th).
Is this normal cryptocurrency behaviour or is something suss going on?
Except less than one in a hundred can name more than 3 cryptocurrencies. Being 35th means you’re still nobody.
K Chang you are an idiot a complete moron. We started trading just over a month ago and you expect us to be in the top 10 mate. Oh come of it you idiot.
We started at the bottom and we are climbing the tree mate. No matter what GCR does you will never be happy because you are out there to destroy us no matter what.
I would not be surprise if you are Anthony. Any sux on it because we are heading to the top and you will have kaka all over your face.
GCR opened at $0.40 and is now trading at $0.008 or a 5000% loss on its value. If you think some cryptocurrency ranking is going to make a difference then you are an idiot.
If you are a GCR member the only thing you are doing is lining Bob, Linda, Sasa, and Ruben’s pockets with your money. I will eat my own poop if the coin is worth more than a penny by the end of this year.
By whom ??
No, I don’t expect anything. I stated a fact. You’re the moron for assuming, potty mouth.
Yes, I can confirm. Bob, Linda,Sasa y Ruben have a lot of new things with the money of the affiliates ( cars , pc, tablets etc).
Jaime time to give it up now your making yourself look stupid.. i think that’s what’s known as clutching at straws lol.
Hightest value of the day: 0.0083 $ (I’ll not put the lowest for modesty). Have you a new car, a new pc, a new moto , a new netbook, a new phone with GCR money?
May be I’ll take a cup of coffe here, in Sevilla. When the Krypto-cafe will be open?
Why is the GCR value lower and lower daily?
The lowest value is 0.00001998 BTC , today.
Today’s lowest value: 0.00001110 . The coin is dropping. What’s happening?
Simple.
People have worked out the coin has no value outside of GCR.
Who has a kaka face now?
Where is William these days anyway?
William ( Bob) is with Sasa y Ruben and Linda. They are spending the Gcr affiliates money.
No it’s not nothing to do with it more like day traders making money and people dumping coins.
That’s ok we play them at there own game and buy them all back and not the price they want lol.
Jamie you are such an ignorant uneducated person. Did you really believe that once we go live that the coins will go to say above $1.00 and above mate.
Tell me how long did it take bitcoin to really grow and start showing real value?
I’m surprise at your stupid uneducated comment. It is embarrassing mate.
Today’s lowest value :0.00000700 BTC, $ 0.0023
GCR has launched a new website:
gcrcoin.com/home-es-es-3
promises of ATM’s and ‘cryptocafes’ and a shopping network via nexxus.
all this talk has been going on for a long time now, with no action on the ground. the only visible action is of the GCR coin tumbling down at hi-speed.
what is the lowest value that can reach gcr being secured by gold ? Because in Spain Ruben y Sasa (and Others) ensured that investors would never lose their money.
Uh, guys, watch your language please, all of you. Stop the name calling. Discuss facts, not labels.
Wow, the GCR volume has really collapsed, have the pump’n’dump team taken a few days off?
What will happen when the coin will be near zero value?
Pump’n’dump team is desperately working to improve the worth but there is nothing to do, the coin is worthless and worthelss: today’ s last value : 0.00000716.
o well, as long as bob woods, linda helin et all can make big recruitment commissions, why will they give a dang.
Today’ lowest value: 0.00000611 BTC.
so, where are the head honchos of GCR coin while its value crashes and burns?
bob woods got married last month and has been MIA since.
linda helin’s grating voice seems to have smoked itself to a deathly quiet.
kelly ann is gushing about recent developments in ‘bitcoin’ except that dahling, GCR coin Is Not bitcoin.
the GCR FB page is semi comatose.
whatever happened to the GCR cryptocurrency revolution??!!
Ruben y Sasa are here, in Sevilla but I don’ t know why.
funny that we are now ranked 24 in the world now and our price has increased dramatically now.
Anyway there will always be people criticing us and trying to put us down but will keep working and building our business.
Today’ lowest value: of 0.00000611 BTC.
??
Yep all looking good:
24H LOW 0.0079 0.00002090
The bottom is looking very solid here.
imaginary ‘currency’ can be ranked anywhere it wants I guess.
The price has increased because someone has decided to pay a higher price in a number of relatively small trades — between 100 and 250 bitcoins total over 2 or 3 days.
That’s similar to “market manipulation” in the penny stock market, except for the fact that “market manipulation” usually will try to trick some outside investors to buy when the price is high (the volume will be much higher).
we are now ranked 18th in the world.
They’ve had 1000% inceased and 4 times the volume of the 2nd ranked coin. We are now ranked 18th in the world. The price has now gone up close to 3c.
For me it looks very similar to “penny stock manipulation”, where a few investors are trying to drive up the price in the hope that they can sell to a higher price. I used the bittrex chart as a source.
The volume has been low for several weeks = few people are trading. I simply don’t believe in the idea that the GCR coin suddenly has become very popular among outside investors — that people have “changed their minds”.
GCR had a November sales promotion where a member would receive bonus coins based on their purchased membership level.
Clearly this is to boost its falling paid membership numbers and at the same time increase the value of the coin as the company needs to buy the coins they are giving away as bonuses.
Now that they have seen their market manipulation worked they are offering a similar sales promotion for the first week of December.
The sales promotion is ending. Will the worth go down?
Bob Wood went awfully quiet after Anjali posted that email from Anthony.
I wonder why?
The problem here is that they’re not trying to attract any outside investors. GCR is mostly traded “internally” between members, paying a higher price than other parts of the market will accept.
The value or worth of a currency is based on that it can be exchanged with other things of value in a normal market — e.g. that merchants will accept it as a payment method for goods or services, and that customers also will accept it and use it for transactions — and that it can be used to temporarily store value.
The value or worth of a commodity (e.g. gold) is based on the same idea — that it can be exhanged with money or other things of value in a normal market — that it can be “traded” or sold to other investors. Commodities usually have some “intrinsic value” too.
Liquidity is about how easily it can be exchanged with money or other things of value.
“Wrong focus?”
A “sales promotion” among members will not have any long term effect. It only had some “marketing functions”, e.g. it made it possible for William to post some comments about “number 18 in the world” and “increased 1000%”.
The focus seems to have been on “psychological well-being of the members”. It should normally have been on “getting GCR accepted among merchants and consumers as a payment method”.
Yes, that was my point. It is the company buying coins at a much higher price than what the ‘outside’ market would value it. Giving the coin a false market value.
what a load of bolox so your saying people trading on Bittrex are GCR members selling between themselves lol.
While he didn’t have proof, you don’t have any counterproof.
So you both are full of ****. Try again.
Tim who are you referring to when you say
M Norway said ‘mostly’ GCR members do the trading and my point had nothing to do with external or member trading I was making the point that the company was/is buying coins at a high price. Giving the coin a false market value. So who said that the only people trading the GCR coin on Bittrex are GCR members? The ONLY person that I can see who said that is you – lol
The worth of GCR is slowly going down (end of proof).
“Probably hacker’s account is connected with someone from GCR team. More info will be published tomorrow.”
bitcointalk.org/index.php?topic=914975.msg13158019#msg13158019
lol yesterdays fish n chip paper “Probably hacker’s account turn it in Jaime ffs your getting boring.
In Spain GCR is restyling (Pool Miners). Meanwhile we deepen the matter for which gcr would hacker Yobit in recent days.
Ruben and Sasa have started a new company and they are removed from the GCR Leadership page kryptocommerce.com
Things don’t look good.
Sound like they were the “tech” behind GCR. Basically “hay guys, let us run a cryptoscript for you”.
What do they sell? Is kryptocommerce (and Poolminers) a mlm?
Not MLM from the looks of it. Just crypto merchant services.
You pay them and they’ll run a crypto script for you. That sort of thing.
Non Kryptocommerce but Poolminers.con is a recruitment scheme.
Yes, I confirm that Poolminers is a recruitment scheme and sells package until 7234€.
Never heard of em sound like a 2 bob outfit i’ll swerve it.
What do Ruben Arcas and Salvatore D’Arco sell for € 7324?
There ass ??
No one will buy it. There is better ass for sale everywhere. haha
Where’s Bobby Wood? Stopped defending the GCR scam?
Linda Helin`s Done it again, Partnering up with Hans Pasverr and Harald Ekker on a new scam called Crowd Bridge Global “CBG”. watch out guys.