Curious fact: try to find in the Record telegram channel the word "softcap".

You can see that for almost 3 months no one has used this word. Namely, from April 14 to July 1! Do you think that within 3 months when ICO was going on, no one asked about the soft cap of the project? After that, I'm more than sure that the messages have been deleted by administrators. And it is likely that the soft cap was still collected, and bounty participation were simply thrown out of the train, which had already arrived at the coinmarketcap.

But God is their judge.

this rule was added later. There wasn't this rule until bounty campaign finished

Ok, here is what I think about the whole thing.
Record has been existing for a few years already.
They wanted to be on the blockchain and in order to do so they launched a reverse ICO.
The hard cap was $15 millions. No soft cap was mentioned anywhere ever.

I checked the French translation and there was no mention of a condition to be met for payment.
https://bt.irlbtc.com/view/3340176



The only reference to a successful ICO concerns the length of the campaign (in the 1st sentence). If I translate it back in English, basically it says :
- that the campaign will last until the 30th of June, or until the ICO is successfully completed.
- that the token distribution will happen immediately after the end of the campaign.
- that the contributions of the participants will be tracked so that they can receive tokens at the end of the campaign.
That's all.


This is from their whitepaper :


Conditions aren't clear and there is no mention of any cap. The hard cap thing was only added to the bounty thread at the end of campaign... I guess in case there would be complaints. It never says that if the ICO isn't successful (what is successful btw ?) they won't pay anything.

They got listed before the end of the ICO.
Hard cap wasn't reached and investors didn't get reimbursed. The rest of the tokens were burned. Why burn them when you can use them to pay bounty hunters ? I guess they thought the tokens would be dumped by hunters which would lower the value of the coin. Instead, by burning the tokens, you make sure the value of the coin will rise.

Apparently, they only got 4% of what they expected (the hard cap ?). That's what their telegram manager told me.

So the way I see it, those guys thought they could sell a few tokens with this reverse ico thing. They knew they would never reach a hard cap of 15 millions so they found people to promote their project for free, knowing quite well they would never have to pay them.
They made a few hundred thousand dollars, used some of it to get listed and got some people to work for them for free. Well done.

I call it a scam, an elaborate scam, but still a scam.

Well you can pray if you want to, and you'll see how far that gets you. 

I tagged this guy, because this whole situation seems really shady.  If this project isn't paying its advertisers, they're probably not honest enough to be running a legitimate project.  I'd like to hear from Official Recordfoundation himself, though.

http://archive.is/Wg42g archived.

I checked few other translated topics and I don't see this rule. OP please archive all translated threads.

Both CTO/CEO and lead project manager have passed KYC on icobench https://icobench.com/ico/record-foundation http://archive.is/NfnWz so you could take legal action against them.

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Btw, how many tokens are in circulation? I can't find it on coinmarketcap.

I'm fucking objective. You got people to work for you for free !
Pay them and we'll be fine.

Which rumor do you want us to spread ? That you're a shitty coin with zero value ?
Or that you're scamming people ?
It's ironic, you're a project that claims to pay a fair price to artists using your platform and yet you can't even pay a few thousand dollars to the people who worked promoting you ?

They changed the rules in the middle or at the end without any announcement.



Sorry but not giving away bounties does highlight their intentions to cheat. That being said they might lie and cheat other parties eg. Investors (who invest their money) just like they cheated bounty participants (who invest their time promoting).

I participated in their bounty, and we invested our time for promotion of record foundation and i am sure i will let them fade after scamming all bounty hunters. request to all affected people of record foundation please join me here https://t.me/realbountyhunters. This group is standing for financial protection of bounty hunters.