Interesting.
It really looks like typical newspaper reporter stuff. I would guess that he's tweaked the interview to make it more interesting. While Merv may not say "screw you", the fact is, he's probably thinking it.
On to the comments. Don't read if you can't handle brutal honesty.
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How many members do you have currently in the system?
Oh we have an unlimited number of members. There could be 50,000 members but many have not been in for years and only a few are currently involved.
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For someone who knows everything about the people inside the system, this is a really vague answer. Just how many people actually ARE in the system?
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But your web site has been offline for ages because of money owed hasn’t it?
We don’t need the web site because we have just been sitting still waiting for the commercial site to get back on. This is what people do not understand. The commercial site is the key to the whole operation and we have had to tidy up all the crap before we can commence again.
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Absolute crap! People WOULD understand that if you got off you ass and actually TOLD PEOPLE THAT. You DO need a website to keep your members up to date... you know, those people you rely on to put money in the system! Show your members some damn respect man and update them!
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Why do you owe money and have had these problems?
We haven’t gained any income for two or three years. When we saw people in networks taking advantage of the system and screwing it by pulling profit out quickly. I can tell you those people complaining on the forums say one thing on the forum and do something different in their own account. In an economy you need to provide credit. We provided credit to a certain level similar to a bank. You can’t take money out without paying fees. You put a certain amount of money in and you can then earn a certain value from that by keeping your principal in there. Use the credit in the system. You can store it and make it grow or use it within the system. If you take it out you have 30 days in which to pay it back. If you do not pay it back it is held against the imput value you started with. The size of the credit is only equivalent to the size of the imput value. You make get more than one to one but you can’t use that credit. This will be how it will work in future when we relaunch to stop people screwing with the system.
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Yet for years there was never anything on the site mentioning this. When i joined there was no credit feature, and nothing in the TOS stating that if you take money out you had to pay it back. DXS never informed people of this, in fact, if i'm not mistaken, the credit feature didn't even exist back then!
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Aren’t you just changing the parameters as you go along? What about people who put in money thinking they could make a profit and cash in on it but can’t. The DX system seems highly complicated to the extent that educated people in the finance industry have problems understanding it?
All people do is go in and put a value of what they want to invest. Go and select what country and city you want to purchase a digot for and simply live there. People earn it for you. You don’t need to do anything. There is no complication in it. Each one of those countries and cities has got a different activity with it and this is where you get a different earning ability and credit ability depending on the activity going on where you have investment. It is unique for each person and changes daily.
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So Merv himself admits the portfolio is an investment. Very interesting. People claim Merv to be a very smart man, and i have no reason to doubt that. I would have thought however that he'd not make such an amateur mistake as to use "that" word.
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That’s fine but what’s the point if you can’t cash them in? Isn’t it just reality money that doesn’t exist?
It is not supposed to be pulled out. It is supposed to be used. We have never said this was an investment scheme. It is a storage and credit scheme. Since day one there have been fees there. If you take money out you must put it back.
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Actually, you just DID!
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This is the way they have cheated the system by not paying fees and taking funds out. We and others have had to pay the price for them not paying the fees. These people are greedy but get upset when you tell them that. They accuse us being the biggest fraudsters under the sun but some of them were using the system to cheat us. We didn’t want people to get cheated but they were operating in networks to cheat the DX system so we had no choice but to close it down and remodel the system to stop them doing it again. The biggest loss we should have made in withdrawals should have been 3% but it was a lot higher.
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You have to pay the price? You are the people who LET PEOPLE DO THAT. You could have stepped in and put a stop to it a LONG TIME AGO. But you didn't. YOU FAILED to do your job.
How dare you call people cheaters and greedy when YOU are the people who sat by and let them do it. You didn't even bother to post a news article telling people what they should and should not do. No, you did nothing except wait til it was too late, then disappear offline, and now you have the nerve to call people out as greedy and cheaters! That's just disgusting!
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The reason why we gave extra credit in the whole system was because those guys who had taken out thousands of dollars and had a massive negative were able to pay off without credits and get back to zero. Now if you want to get back your credit you must come back with a value equivalent to what you have taken out already had didn’t pay a fee for it. We have not changed, we have just tightened up to stop the cheats. If everyone pulled out money from the system which was credit we would be left with nothing. People were compounding their holdings through auctions through networks and avoiding paying fees.
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Yes, you have changed because when many joined there was never any credit system, and there was never any information telling people they would need to pay back anything they take out.
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People must pay fees to use the system the same as banks charge fees to obtain credit.
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Paying fees is fine. You're the people who removed the fee from the website, not us.
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These guys cost us millions of dollars and our programmers went nuts trying to stop them. A high percentage of the people abusing the system were scammers. They tried to scam us and we blocked them to protect the ones in the system who were doing it right.
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We thank you for that. At least you were proactive in stopping the scammers, i'll give you that.
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Earlier on these forums people who were inside the system controlling mass numbers of people were telling one thing on forums and taking advantage of those same people at the same time. We were watching these guys what they were saying on the forums and not responding because our job was to rebuild the system. Now we are saying to them, “screw you. We are now going to keep the good part of this system intact and come out the other side ahead. If there is a delay doing it right then so be it.. We hold absolutely every record of what all members did going back to 2002/2003. One of these people who screwed the system compounded his account by US$450,000 in just 6 weeks. He had megabucks in credit through networking in the system that forced us to reduce the credit across the whole platform. We know his original investment.’
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"Screw you"... a very professional term Merv. Thanks for telling us how you really feel about your members.
There goes that "investment" word again.
Oh, that guy who screwed the system... you mean he simply used it the way the site let him? I notice you fail to mention that you didn't think to step in or even shut the site down in the first week he did this? I mean, if you're so aware of what goes on, why didn't you just take the site offline and fix it back then?
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People were supposed to pay fees on transactions and didn’t. Nobody has paid anything whatsoever in the system to get what they have got through compounding their holdings. What we have done is give people credit based on what they put in to use within the system but if they want credit they must pay a fee. If you want the value you put in to come out without the credit that is fine. This is what we have changed in the system to stop the problems.
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Nobody COULD pay anything because you removed the fee. Sheesh, you remove the fee, then complain because we don't pay it. What the?
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They built networks all over the place and were in touch with each other to screw the system.
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Errr i think you'll find at the time they used the system to make money because that's all people knew. If you wanted them to know otherewise, you should have sent an update out, or maybe changed your website terms of service.
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Why are you currently offline?
We do not need to be online until the commercial business side is running.
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Actually you owe it to your members to be online and keep them updated. Customer Service really isn't your strong point is it? Do you treat the Vanuatu people with such disregard also?
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How is the company building up its income and have money for purchasing assets?
We have had private blue chip investors come in and invested with us to build up the system. Some of these blue chip investors have already had an 80% return on their investment. We need to get them sorted out when the commercial system starts again. We have had problems and no revenue for the last couple of years whilst the commercial system has been taken offline waiting for the Act to be amended.
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I'd love to know who those BC members are, because all the ones i know are not able to get anything out.
Also, what about the rumours that the BC funds were used in other parts of the system, something that should NEVER have happened.
