West Ham say pay to have your say in club affairs

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Re: West Ham say pay to have your say in club affairs

Postby Beavis Danzig on Tue Apr 30, 2019 1:18 pm

nice timing, what with the massive invented IOU system that's propping up the whole moribund crypto market has just been revealed to be absolutely as fraudulent as everyone with any nous knew it was.
Last edited by Beavis Danzig on Tue Apr 30, 2019 1:35 pm, edited 1 time in total.
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Re: West Ham say pay to have your say in club affairs

Postby Northbank Bar on Tue Apr 30, 2019 1:25 pm

Speechless.I shouldn't be surprised but I am.
Please stand up and be counted and campaign against these people.They are killing our Football Club.
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Re: West Ham say pay to have your say in club affairs

Postby Phil S on Tue Apr 30, 2019 1:37 pm

Doc H Ball wrote:Talking of tokens:

https://www.whufc.com/news/articles/201 ... ory-so-far" onclick="window.open(this.href);return false;

What a bunch of saps.


and most of our fans seem to think this is ok

The OSB don't engage with the wider audience (meaning West Ham fans)
All SW and claret and hugh crap

When will they speak to the fans?

FFS stand up and do something
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Re: West Ham say pay to have your say in club affairs

Postby Estuary on Tue Apr 30, 2019 1:59 pm

the pink palermo wrote:Just sign some ****ing players and try and win a trophy.

How ****ing hard can it be ?


Impossibly hard for some it would seem.
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Re: West Ham say pay to have your say in club affairs

Postby Big George on Tue Apr 30, 2019 2:43 pm

This is from the website of Socios, the company who are working with West Ham, just in case you are in any doubt what this about. Obviously the OSB signed this off.

Socios.com is a turnkey solution for any football club to monetize their fan base via a custom Fan Token Offering (FTO), giving fans access to club branded Fan Tokens that come with voting rights and access to VIP level club rewards and engagement opportunities.

Socios.com provides an upfront upside, in the form of a high-value cash infusion as a result of this FTO, followed by a sustainable source or passive revenue as a club’s fans use the platform to exercise their decision making power, engage with ‘ownable’ VIP features and trade their branded Fan Token back and forth amongst other fans.


We have taken the DNA of this fan-led management system and fused it with the power of blockchain technology to create a new era of fan engagement and monetization opportunities for football teams and their fans, globally.


https://www.socios.com/corporate/

I feel ill... :thdn:
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Re: West Ham say pay to have your say in club affairs

Postby Prob on Tue Apr 30, 2019 3:06 pm

I would be more worried about the fact the club and this company are going to target kids, if will first start off with the innocent free hunt for these tokens, untill you need 100,000 tokens to qualify for this event. Then kids will bully each over not being a fan because they only have 100 tokens and not 1000.
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Re: West Ham say pay to have your say in club affairs

Postby sanchoz on Tue Apr 30, 2019 3:13 pm

Like with any investment, people should be as fully informed as possible. The club do not have any links to the FCA on their article so:

https://www.fca.org.uk/firms/cryptoassets

From https://www.fca.org.uk/publication/cons ... p19-03.pdf pages 11 & 12:

Harm to consumers
2.20 Cryptoassets pose a range of substantial risks to consumers, which stem from
consumers purchasing unsuitable products without having access to adequate
information. This can include fraudulent activity, as well as the immaturity or failings of
the market infrastructure and services.

2.21 Consumers may experience unexpected or large losses. While this is true of many
types of investments, cryptoasset investors should be particularly aware of the
volatility that many tokens experience, and the limited information available on how
these tokens work. Preliminary findings from our consumer research suggest that
consumers can overestimate their knowledge of cryptoassets and the underlying
technology, with some respondents believing that, due to language such as ‘mining’
and ‘coins’, they were investing in tangible assets.

2.22 Leveraged derivatives, like Contracts for Differences (CFDs) and futures, referencing
cryptoassets carry a high risk of loss due to the volatility of cryptoassets and the
impact of product fees such as financing costs and spreads,. They can also be difficult
to value due to a lack of transparency18 in the price formation of the underlying
cryptoasset.19

2.23 The potential to misunderstand the nature of these assets can be compounded by
poor practices in relation to advertising. Adverts often overstate benefits and rarely
warn of volatility risks, the fact consumers can lose their investment, the absence of a
secondary market for many offerings, and the lack of regulation. These often play on consumers’ aspirations for ‘easy money and wealth’ and ‘fear of missing out’. Often
social media plays a significant role in influencing consumers’ behavior.

2.24 ‘Whitepaper’ documents that typically accompany ICOs are not standardised and
often feature information considered to be exaggerated or misleading. Given the lack
of clear information, consumers may not understand that many of these projects are
high-risk and at an early stage, and therefore may not suit their risk tolerance, financial
sophistication or financial resources. These documents are not prospectuses, are
not approved by a regulatory authority and do not, generally, provide the level of detail
contained in a prospectus in relation to the company, the business and the product.

2.25 Consumers may buy cryptoassets without being aware of the limited regulatory
protections for those cryptoassets that fall outside the FCA’s regulatory remit like
the lack of recourse to the Financial Services Compensation Scheme (FSCS), and the
Financial Ombudsman Service (FOS). This can be more problematic when firms offer
both regulated and unregulated products at the same time, as it can be harder for
consumers to determine which products provide recourse. We would always expect
a regulated firm selling unregulated products to be clear with consumers about this.
Where products are regulated, recourse is only available in limited circumstances like
mis-selling – losing money in an investment does not automatically mean recourse is
available.
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Re: West Ham say pay to have your say in club affairs

Postby Big George on Tue Apr 30, 2019 3:31 pm

sanchoz wrote:Like with any investment, people should be as fully informed as possible. The club do not have any links to the FCA on their article so:

https://www.fca.org.uk/firms/cryptoassets" onclick="window.open(this.href);return false;

From https://www.fca.org.uk/publication/cons ... p19-03.pdf" onclick="window.open(this.href);return false; pages 11 & 12:



Interestingly, the company bnehind is based in malta which while in the EU is benefiting from light touch regulation.

The authorities there recently issued this warning on Bitcoin in the country.

https://cointelegraph.com/news/maltas-financial-regulator-issues-guides-on-crypto-assets-scams
Malta's financial regulator has issued a note to the public regarding the risks of crypto assets and the possibility for scams, news outlet Times of Malta reported on April 25.

The Malta Financial Services Authority’s (MFSA) new guidance note intends to warn the public about cryptocurrency investments and related risks, and educate people on how to identify and avoid scams and fraudulent schemes.


I'm not suggesting this scheme is any way fraudulent but it does give you an idea of the nature of where they are operating.
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Re: West Ham say pay to have your say in club affairs

Postby brownout on Tue Apr 30, 2019 3:53 pm

How long before the benefits include tickets for away games?
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Re: West Ham say pay to have your say in club affairs

Postby Marlow Vaderman on Tue Apr 30, 2019 3:58 pm

Have these people got no shame....
Just another way to target people and take their hard earned cash.. totally unacceptable IMO.. when will we wake up and smell the coffee.. we are being taken for a ride..
It’s stunning..
Surely no one thinks this is fair game???
Replica kits, merch, bad enough.. but with all the money pouring into football they still need to “monetise their fan base”
Just go now.. please..
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Re: West Ham say pay to have your say in club affairs

Postby Olliek92 on Tue Apr 30, 2019 3:59 pm

Could be good, all depends on what we will have a chance to vote on. If it's things like man-of-the-match etc, it's a little trivial and I'm not sure it's worth spending money on. Socios.com say it will be "under £10" to vote...fairly expensive by my book.

https://coinrivet.com/west-ham-to-use-b ... ocios-com/
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Re: West Ham say pay to have your say in club affairs

Postby Doc H Ball on Tue Apr 30, 2019 4:31 pm

£500m in tokens and you can sack the board!
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Re: West Ham say pay to have your say in club affairs

Postby Adrianisournumber1 on Tue Apr 30, 2019 4:48 pm

Northbank Bar wrote:Speechless.I shouldn't be surprised but I am.
Please stand up and be counted and campaign against these people.They are killing our Football Club.


I agree but there dont appear to be a line of people willing to take us over either.
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Re: West Ham say pay to have your say in club affairs

Postby e17 on Tue Apr 30, 2019 6:11 pm

Doc H Ball wrote:Talking of tokens:

https://www.whufc.com/news/articles/201 ... ory-so-far" onclick="window.open(this.href);return false;

What a bunch of saps.

I read that whole thing - not only is it 3 minutes of my life that I’ll never get back, but it literally says NOTHING.

It’s just words and words and words.

There’s now some free tampons in the ladies, we’ll be getting a new kit next year, it’s nice when the sun shines, and words and words and words.

Literal nothingness.
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Re: West Ham say pay to have your say in club affairs

Postby Beavis Danzig on Tue Apr 30, 2019 7:43 pm

if you are made aware of anybody putting a penny into this, you actually have every legal right to take away their wallet under the mental health act.
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Re: West Ham say pay to have your say in club affairs

Postby mywhufc on Tue Apr 30, 2019 7:52 pm

Doc H Ball wrote:£500m in tokens and you can sack the board!

can we crowdfund the tokens?
Can a club become even more detached from its core fan base than this one, the fact they thought about this is madness to then proceed with it just highlights the lack of connection to the fans they have
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Re: West Ham say pay to have your say in club affairs

Postby Phil S on Tue Apr 30, 2019 8:24 pm

^

not connected with our fans, how very dare you..
our very own OSB have today been back slapped for all the fine work they've done

obviously there was no mention that actually it was another group that did the work, but hey ho
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Re: West Ham say pay to have your say in club affairs

Postby hammer1975 on Tue Apr 30, 2019 8:38 pm

the pink palermo wrote:Just sign some ****ing players and try and win a trophy.

How ****ing hard can it be ?


This :thup:
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Re: West Ham say pay to have your say in club affairs

Postby Colours never run on Tue Apr 30, 2019 11:59 pm

The new Bond scheme con?
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Re: West Ham say pay to have your say in club affairs

Postby Rio on Wed May 01, 2019 12:11 am

Been a season ticket holder for 28 years. Does this give me enough tokens to say go do one you bunch of parasites?
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