Wednesday, February 2, 2022

CloudCoin: Is It a Ponzi Scheme? - Part 1

 

The New Virtual Organization World

It's a New Principled and Civilized World, It's Virtual and It's Organized








First and foremost, I want to quickly address the question "Is CloudCoin a Ponzi Scheme?" that the following categories of stakeholders have about CloudCoin:  
  • Individuals I have personally referred to CloudCoin.    An astonishing 90% of them want to know the answer.  They include family members, friends, colleagues, associates, and anyone else that I came across who seemed curious or skeptical about cryptocurrencies.  
  • Early Adopter CloudCoin Holders.   An overwhelming 70% of them want to know.   They include many disillusioned CloudCoin holders 
    • who have supported this project since its infancy, or over the past 3-4 years;  
    • who have been very loyal and exercised a great deal of patience and restraint during that time period;  
    • who have grown accustomed to receiving a strong dose of hopium or hearing a lot of hype or vague promises over the years about :::  the technological superiority of CloudCoin as well as its liberty, privacy, and prosperity aspects :::  CloudCoin Consortium being right on track with respect to its execution of a carefully orchestrated 5-year plan in accordance with its vision and strategy ::: CloudCoin Consortium  partnering with some of the world's leading cryptocurrency pioneers (e.g., founder of Bitcoin.com and Bitshares, etc.);  world-class technologists in the digital currency infrastructure space;  so-called leading cryptocurrency exchanges (e.g., Bitshares, Bitcoin.com, Folgory, BitMart, Changelly, HitBTC, etc., that are alleged to be highly ranked by one or more cryptocurrency exchange performance monitors) ::::  CloudCoin Consortium  partnering with one of the world's largest network of cryptocurrency ATM (over 40,000 automated teller machines);  and OpenBazaar - the world's leading and only blockchain version of Amazon, etc. in order to achieve their LIQUIDITY goal for CloudCoin :::  CloudCoin Consortium partnering--or has partnered--with leading entertainers in the memorabilia space;  leading media  influencers in the capital markets;  retail multilevel marketing geniuses and promoters;  leading infomercial pioneer(s) who have been directly instrumental in generating billions of dollars in sales in the double-to-triple digit range; some of the most brilliant and influential social media marketers; and entertainment companies or shows appealing to CloudCloin's target market and demographic, all  in order to make CloudCoin go viral and become a household name around the globe :::  and, less but not least, endless pontification on the monumental progression of innovation in CloudCoin technology in terms of a complete overhaul of the underlying technology in order to better facilitate the integration of CloudCoin natively on all major cryptocurrency exchanges for LIQUIDITY reasons; technological improvements of the CloudCoin platform and related client software in terms of certain unique characteristics, transaction speed,  quantum-safe security features, and a litany of other potential technological applications and breakthroughs.  
  • Late Adopter CloudCoin Holders.   Who are these Late Adopter CloudCoin Holders?  They include some of the most sophisticated, high level business executives at leading enterprises across the globe :::  banking and capital markets executives :::  and very influential government officials  within the executive, legislative, and judicial branches of government performing a variety of functions, including banking and financial services regulatory activities  :::  that I have directly or indirectly contacted  throughout the United States; the whole of Eastern Europe, Western Europe, China and other leading Asian countries, Africa, Latin America, the Caribbean  :::  in order to introduce them to the activities of Digital Currency ConsortiumThe Digital Currency Manifesto and, by extension,  CloudCoin.
Nearly 100% of them will want to know if CloudCoin is a Ponzi scheme the minute the news gets out that the thousands to millions of CloudCoin currency that they may have recently acquired will be reduced  by a factor of approximately 85 to 1. 

According to the proposed new formula, "Total Number of Current CloudCoin currency minted divided by 85 = New Number of CloudCoin in circulation."    

For Example, if one such CloudCoin holder had recently acquired a total of  2 Million (2,000,000) coins, then the new CloudCoin desktop wallet would automatically convert these 2 Million coins  into ~23,529 (Twenty-Three Thousand Five Hundred Twenty-Nine) coins.      
Caution:  Please note that this new development is in the discussion stage and I am not aware if a final decision has yet been made to proceed.    
 
However, based on every single piece of information about this new  development which has been openly shared with me thus far by some CloudCoin stakeholders,  Shooting Yourself In The Foot, Being Devoid of Common Sense, Stupidity, Idiocy, Insanity, A Hole in the Head, and Moronicity cannot even begin to describe the rationale for this decision.    
 
The ramifications of this potential decision would send shockwaves that would reverberate across the globe;  forever cast a  lingering cloud and dark shadow over the CloudCoin digital currency, CloudCoin Consortium, and every single individual directly or indirectly connected to CloudCoin Consortium, including RAIDATech and RAIDAQ;  and would certainly draw the ire, attention and scrutiny of regulators from all over the world. 
    
To Illustrate, the troubles that would be brewing for Sean Worthington, CloudCoin Consortium, RAIDATech and RAIDAQ would make the movie  Nightmare On Elm Street seem like a trip to Disneyland.   
 
Just think of all the chickens that have come home to roost for Binance and 1000's of other cryptocurrency companies and exchanges and defi (decentralized finance) platforms worldwide.     

  • RAIDATech Investors.     Quite a number of them want to know that answer, however, I don't have a clear idea as to the percentage.   Notwithstanding this fact, since most RAIDATech investors are Early Adopter CloudCoin Holders who have read many of my glowing articles about the CloudCoin currency itself,  its digital global reserve currency potential, the potential applications of its underlying and revolutionary RAIDA technology in many other spheres, I will venture to guesstimate that the percentage of RAIDATech investors who are wondering if CloudCoin is a Ponzi scheme would approximate the percentage of Early Adopter CloudCoin Holders - which is around 70%

More than any other group of CloudCoin stakeholders,  they have a more compelling reason to think that it could be a Ponzi Scheme for the simple reason that their original purchase of  CloudCoin made them prime fundraising candidates to invest in RAIDAQ, the parent of RaidaTech.  

Once they became RAIDATech/RAIDAQ Investors, they were invited to participate in a second round of funding for RAIDATech. 

Just recently, these same investors were invited to participate in a third round of funding for RAIDATech ostensibly under the guise that RAIDAQ will soon be going public on the OTCQB Venture Market - an event which they expect to occur within a relatively short period of time - not sure as to the timing. 

In any case, here is a comment - a direct quote - from an investor which is representative of the many comments and concerns expressed by many others: 

"Pierre... What can I add, the whole Cloudcoin is a mess, no direction, no sense of purpose, no interest to listen... most of them are uneducated, poor and gullible. It looks more and more like a Ponzi." 

My Answer to the Question:  Is CloudCoin a Ponzi Scheme?

My answer today is a categorical NO.    

However, that being said,  after 45 years in the business world,  I can confidently say that I have been around long enough  to know that most Ponzi schemes don't start out that way.   Such schemes usually begin with well-intentioned people (who are too smart for their own good, amateurs, incompetent,  arrogant, out of their league and way over their head, not only ignorant but also willfully ignorant,  have blinders all around them, and see the world through rose-colored glasses) who are willing to attribute their lackluster-to-dismal performance, nonperformance,  or complete failure to circumstances beyond their control; and thus rationalize that extraordinary events require extraordinary measures. 

As such, they are willing to bend the rules, transgress a bit and embark on the wrong path, thus setting the stage for the beginning of a Ponzi scheme.   However, as we all know, once you embark on the wrong path,  there is no getting back on the right path for the simple reason that you have set in motion the rolling of a ball down a hill and there is no stopping that ball until it has reached the bottom of the hill.  Hence, the development of a full-blown Ponzi scheme where you have to Keep Moving the Goal Posts and be constantly "robbing Peter  to pay Paul" until you are finally caught and have to deal with the consequences.

Most importantly, such Ponzi scheme requires the active participation of the principals,  the active or passive cooperation of other parties, and the coercion or duping, respectively,  of unwilling or unaware participants.           

Therefore, the real question that we all need to ask is:    As it stands today, this very minute and second, is this CloudCoin project bordering on the beginning of a Ponzi scheme?   

My answer to that question is:   I really don't know.   For the simple reason that, with Sean being one of the principals of CloudCoin Consortium, RAIDATech, and RAIDAQ,  this would require his  active or passive participation in such a scheme :: along with other co-conspirators ::  thereby taking the chance of being inundated with an avalanche of civil and criminal lawsuits which could lead to prosecution, taking a plea deal, or the risk of going to jail.

In connection thereof,  any accusation of fraud, wire fraud, conspiracy to commit wire fraud, bait-and-switch, failure to exercise due diligence, willful ignorance, malicious intent, or any other cause of action would be tantamount to ruining his personal reputation; which, in turn, would endanger his tenured professor position at the community college he teaches and so dearly loves;   and thus become the subject of derision and scorn from family, close friends, colleagues, associates, as well as both current and former  students.  NO AMOUNT OF FAME AND FORTUNE is worth this sort of nightmare.

Sean just does NOT fit that profile.   I have had a 1-hour videoconference with Sean in the past and have also communicated with him on several occasions over the past 4 years.  My 45 years of entrepreneurial experience tell me that, in his case,  what you see is what you get :::: no matter how alarming or disconcerting it may be :::: instead of the standard "wolves in sheep clothing" that permeate the business, political, religious, and institutional landscape in every single nook and cranny throughout the globe.     

From all outward appearances, he seems to be a good-natured and collegial man - being a college professor, you have to be - and very family-oriented.  Greed and Avarice do not prominently feature in his playbook.  He also seems to be very humble, kind and generous, however, he is not a pushover.   He is also a very hard worker - no need for me to go into the details - and, therefore,  I don't get the impression that he is looking to screw over anybody.   Hence, these are NOT the traits of a con artist and Ponzi scheme operator.

Notwithstanding the foregoing,  one must also keep in mind that Sean is, first and foremost, a computer scientist and database technologist.  Thus, he views everything from a technology standpoint - through rose-colored technology lenses: 
RAIDA :: Legacy RAIDA :: SuperRAIDA ::  RAIDA Mail ::  RAIDA Database :: RAIDA-based  NFT ::  RAIDA-based Secure Telecommunications ::  RAIDA-based Secure Satellite Communications :: Celebrium - a RAIDA-based platform for the Collectibles Market ::  RAIDA-based tokenization for the Capital Markets :: RAIDA-based tokenization for the Real Estate Market :: RAIDA-based tokenization for Any Physical or Intangible Asset or Investment Security :: Being able to pown (authenticate) every single CloudCoin - all existing 1.4 billion CloudCoins -  within 2 seconds ::  a RAIDA-based DIGITAL CURRENCY EXCHANGE built specifically for CloudCoin transactions :: a DIGITAL CURRENCY EXCHANGE that can transact CloudCoin in its native format as well as all other RAIDA-based technology tokens and which will facilitate the exchange of all these digital currencies and tokens based on RAIDA technology with ALL cryptocurrencies within milliseconds :: RAIDA  Apps :: CloudCoin Apps ::  A new CloudCoin Desktop Wallet ::  CloudCoin Skywallets :: RAIDA Guardians :: RAIDA Sentinels :: RAIDA Game Tokens ::  CloudCoin Ethereum  (CCE) Tokens  ::  CloudCoin Bitshares tokens :: CloudCoin Bitcoin Tokens ::  CloudCoin Binance Tokens :: New SuperRAIDA CloudCoin based on unitary files - instead of the current various denominations -  which can be integrated on the trading platforms of cryptocurrency exchanges - sheer madness - a disaster in the making ::  REDUCE existing number of CloudCoins from the current 1.4 billion to about 16 million in order to induce CloudCoin SCARCITY and increase the current value of each CloudCoin - sheer madness - a disaster in the making ::  Integration of CloudCoin into a global network of thousands to millions of Bitcoin ATMs :: RAIDA-based Tokens which can be embedded in anything that you can imagine (wine bottles, purses, drugs, software, etc.) in order to verify their authenticity.  And the list goes on.    

By the way, that is just a small sample of current and potential CloudCoin and other RAIDA-based projects that have been mentioned by Sean and his promoters over the past 5 years that I can immediately recall from memory.  

The point being,  he is going in a thousand directions and thus UNABLE TO FOCUS on just one single project at a time.    It's a perpetual game of Constantly Moving The Goal Posts.   You never know what the hell he is going to say, come up with, or do next - OR what kind of excuse or rationale he is going to provide for failing to deliver.   It's like watching a kid in a candy store.

His solution for everything is:   
  • More Money for more units of RAIDAQ prior to going public on the OTCQB Venture Market very soon.  Money that will ostensibly be used to further develop the RAIDA or CloudCoin technology.  (I am  not aware of any set date for going public.  No, it's NOT going to be a Stock Exchange IPO or  SPAC.)  
  • A New CloudCoin Website with an excellent user interface by some of the "best web designers" and developers in Eastern Europe;  which is designed to incorporate a "cryptocurrency" marketing and branding strategy (and which contains spelling errors and refers to CloudCoin as a cryptocurrency instead of a digital currency after it was approved by Sean or his designate  and officially launched - a real sick joke).  
  • A New White Paper That Is Going to Blow Everybody's Mind (after 5 years of CloudCoin development and the issuance of every single CloudCoin - not sure if it is going to be a RAIDATech or CloudCoin Consortium white paper - another sick joke).  
Is it a ruse to raise more money for RAIDATech from current CloudCoin holders and RAIDATech investors and essentially pave the way for the abandonment of CloudCoin since its value has been on a downward trajectory since its initial launch in January 2017,  despite all previous attempts to prop it up?    A strategy which would pave the way for the eventual sale of RAIDATech and the underlying CloudCoin technology all as part of one package and result in a big payday for the actual shareholders of RAIDATech?

In fact, that is the concern of several CloudCoin holders who brought this very subject to my attention and wanted to know how I felt about such new development since they automatically assumed, correctly I might add, that I could never be involved in such nefarious activities. 

In the event their concerns are indeed justified,  just the fact that Sean would even consider such idea, plan,  unprincipled and pernicious act, or Ponzi scheme :::: from his coterie of cryptocurrency advisors lurking in the background who don't really give a hoot about some digital currency ::::  let alone disclose or float such idea to current CloudCoin holders ::::  I dare say that this would be a complete mockery of everything that he claims to stand for, fight for, and be about.   I would also view that as a clear sign of weakness and someone who is unfit to even collaborate with, let alone lead an organization whose motto is:  Liberty, Privacy, Prosperity.   

Should he decide to proceed with such plan,  this would border on Diving Head On into the Middle of a Quicksand,  Stupidity, Moronicity, Greed, Avarice,  Being Unscrupulous, and No Longer Worthy of Any Respect and Consideration. 

The following is my response to a CloudCoin holder who had deep and grave reservations about Sean's new ideas and contacted me in order to obtain some feedback:  

Killing CloudCoin would subject RAIDA(sic) to quite a number of lawsuits and even criminal prosecution for fraud, embezzlement, bait-and-switch and quite a number of other charges.   Therefore, it's just talk and nothing but a lot of nonsense. 

Therefore, I hope that I am correct and that this is nothing but talk.  In light of everything that I have personally witnessed over the past 5 years, I am willing to postulate that this sort of talk is the result of  Disoriented RAIDATech Investors who are concerned about Sean's ability to bring CloudCoin to prominence, are looking for an exit strategy,  have suggested to Sean that he explores such possibility, and Sean is merely testing the waters for a reaction from CloudCoin holders.  

  • More Mind-Blowing CloudCoin Technology and other RAIDA-based Technology in progress.
  • New and Very Powerful Team Members from the cryptocurrency community (palpable evidence that the CloudCoin digital currency has been fully coopted by the cryptocurrency  crowd - another sick joke).  
  • Getting CloudCoin Listed natively on as many cryptocurrency exchanges as possible for LIQUIDITY reasons so that Sean himself  can finally begin to implement the last leg of  his 5-Year Plan for CloudCoin:   A Global Marketing Effort designed to make CloudCoin a household name and thus enhance the value of each CloudCoin.    
Thus far, this list of cryptocurrency exchanges includes:   
  • Bitshares  ::: which turned out to be a complete disaster - another sick joke 
  • New and  Revolutionary Cryptocurrency Exchange ::: in progress over the past 4 years :: that will be compatible with CloudCoin technology (that no one has heard anything about since the original announcement - a real circus presentation);   
  • Bitcoin.com :::  a most prestigious cryptocurrency exchange whose founder - an iconic, legendary and very influential figure in the Libertarian community, bitcoin community and cryptocurrency world - actually took time out of his busy day to talk to Sean and grant him the honor and privilege of listing CloudCoin on his exchange ::: which, by the way, is not compatible with CloudCoin's digital currency technology - a real PT Barnum presentation;   
  • Folgory :::  one of the "top cryptocurrency exchanges" in the world in terms of daily volume of transactions and subscribers, having the potential to make CloudCoin go viral :: which, by the way, is also not compatible with CloudCoin's digital currency technology and turned out to be a Nightmare On Elm Street - the sickest joke of them all;   
  • Changelly ::::  which can be a real game changer for CloudCoin once other cryptocurrency exchanges are able to integrate CloudCoin on their platforms - what the hell does that mean?;   
  • Bitmart ::: The Holy Grail and long-awaited answer to every single CloudCoin holder's prayer for LIQUIDITY so that the trading value of CloudCoin can finally begin to gain some traction and skyrocket.    
The only cryptocurrency exchange with ingenious programmers and developers which has officially agreed to list CloudCoin in its native format on its exchange by December 15, 2021 or, in any event, by no later than the official launch date of January 15, 2022.  
   
This cruel episode cannot even fall into the "joke category" for the simple reason that there is absolutely nothing to laugh about.  As the old saying goes, "fool me once, shame on you; fool me twice, shame on me."        
As of the date of this writing, none of the aforementioned native listings of CloudCoin on cryptocurrency exchanges ever materialized due to the fact that CloudCoin's  digital currency technology is incompatible   with cryptocurrency  exchange technology.  
The listings of CloudCoin on Bitshares, Bitcoin.com, and Folgory were tokenized on these exchanges and proved to be a total nightmare and complete disaster.  I will leave it up to you to determine on your own what the final outcome for BitMart will be.    
Please note that this desperate attempt to list CloudCoin natively on BitMart is  predicated on the notion that once BitMart has proven that it can successfully and securely integrate CloudCoin natively on its exchange, then other cryptocurrency exchanges around the world would eventually follow suit (and, by the way, BitMart was recently hacked on December 4, 2021 to the tune of  USD $200+ million and, as of  the date of this article, none of the victims have been compensated as promised).            
As the foregoing illustrates, something is terribly wrong with this Liquidity-At-All-Costs strategy.   However, that being said, that in and of itself does not rise to the level of a Ponzi scheme.   

Instead, I attribute such blinders, blunders, and spectacular failures to a badly flawed business strategy which is due to the following:   a lack of vision and organizational experience;  complete and willful ignorance of the value and role of--as well as a critical need for--a global virtual organization; the  absence of principled leadership;  and a lack of understanding of geopolitics.   

In Conclusion

In short,  the executive leadership role Sean currently occupies and exemplifies through running a global organization via Social Media and mostly anonymous group members and volunteers,  is better suited to a Digital Currency Visionary, Strategist and  Principled Geopolitical Leader with solid Virtual Organization Leadership experience who understands the foundational need to have in place--and build--a Global Organization  infrastructure.

See upcoming article :::  CloudCoin:  Is It a Ponzi Scheme? - Part 2 (of a 6-Part Series) for further analysis.

I also invite you to share the link to this document with your fellow CloudCoin stakeholders and RAIDATech / RAIDAQ investors and whomever else you believe would be receptive to the information enclosed herein.
  
Logical Next Step For All CoudCoin Holders:   Proceed to Digital Currency Consortium for a deep insight into Digital Currencies and the need for a Digital Currency Visionary, Strategist and  Principled Geopolitical Leader with solid Virtual Organization Leadership experience who understands the foundational need to have in place -- and build --  a Global Organization  infrastructure.  

Supplemental Information For Advocates of Human Evolution 

Moreover, I invite you to review, at your own leisure, these additional documents which offer a deep insight into the virtual organization management discipline, virtual organization leadership,  as well as the need for mankind to make the transition from Human Being to Intelligent Being and further embark on the road to Human Evolution.   No need to rush, just bookmark this page, you have an entire lifetime to read them:   


Let Us Manifest!



About Author:  Pierre Coupet, Q of VOM is the founder of Virtual Organization Management Institute (VOMI), Virtual Organization Management Institute Repository,  VOMI Global Think Tank VOMI Virtual Organization AcademyVirtual Organization LeadershipVirtual Organization AdvisorsVirtual Organization RecruiterDigital Currency Consortium, Digital Currency Ethical Board,  Virtual Organization  Executives, and Blockchain Executives :: founder of the modern virtual organization management and virtual organization recruitment disciplines pioneered since 1997:: founder of League of Extraordinary Virtual Organization Executives:: and Lead Architect of  Futuristic City-State Enclave Based On a Civilized World Financial SystemContact Online; or via CHAT.

Stock Photo: courtesy of Pixabay

Copyright 2007-2021. Pierre Coupet. VOMI. Virtual Organization Management Institute. Virtual Organization Leadership. Virtual Organization Advisors.  Virtual Organization Executives. Blockchain Executives. VOMI Virtual Organization Academy. Virtual Organization Recruiter. VOMI Global Think Tank. All rights reserved. Cannot be reproduced without permission.