Help Correct the Record - FakeNews and Clickbait - Thank You

Roy SebagRoy Sebag Posts: 21 Admin
edited April 2017 in About Goldmoney
Dear Goldmoney Community,

It has been almost two years since Josh and I embarked on this journey of building a full-reserved gold-backed financial institution. One without the counterparty risks that had become so apparent to us in the 2008 financial crisis. A place where you could save and access gold bullion using the same technology we have all become familiar with - debit cards, instant payments, and mobile banking.

By any metric, we have already achieved success, especially when considering this "idea" from two young entrepreneurs has evolved into the most formidable non-bank owned precious metals group in the world. Yet, these are still very early days both for the general business opportunities and/or the potential for our macroeconomic views to unfold reminding the citizenry about the necessity for gold to anchor their savings activities.

Over the last few years, I ( Roy Sebag) as a self-made investor and entrepreneur have been sort of catapulted into a public position of "power". A relatively unknown young man with no college education at the helm of a nascent public company does that. From my own personal lens, this journey has been a product of personal sacrifices, sleepless nights, epic challenges, and even premature grey hair. However, to others looking from afar, my age and even nationality can at times evoke a sense of jealousy, suspicion, or skepticism.

These antagonists to our success have over the past two years attempted to slow our growth and scare our potential customers via internet attacks, click-bait articles, misinformation, and even antisemitism. I still can't figure out why when you google Goldmoney or search youtube for Goldmoney the highest ranking articles tend to be negative. Is it because the gold-bug community has been so used to cannibalizing each other for business? Is it because people can't seem to reconcile my age with my paper wealth stake in Goldmoney Inc.? Or is it because I am somewhat eccentric and direct in my delivery (I don't suffer fools gladly, that's for sure) which can come across as crude arrogance? I don't really know but suspect it primarily has to do with an opportunity to profit from our loss in some way.

While we have a General Counsel (Katy Millington) and engage legal representatives to help take down fraudulent defamatory articles, misinformation, and even videos on youtube, there are certain of these url's that just seem to stick and will require further legal efforts on our part. We will ensure that our good name and my own good name will not be tarnished. Great financial harm is caused to the group each time one of these individuals makes such defamatory statements. The issue is that at times these individuals hide behind monikers which make their identification arduous (not impossible though). My stamina on this matter is unrelenting, each of these individuals will be eventually served with a legal lawsuit.

With that said, it is undoubtedly obvious that new users looking to learn more about Goldmoney are turned off when they read some of these pieces. I have therefore decided to ask your assistance in helping us "correct the record". I only ask for your participation if you truly believe in our company and have had a positive experience with our service. Here are a list of articles and/or videos that have either been posted about Goldmoney being a scam or have had some defamatory remarks made about me. I would sincerely appreciate if members of the community would take the time to comment on these articles by providing an alternative view to what has been written. In some cases, these systems are silod (though their google ranking isn't!) which will require some effort in signing up and participating. In other cases, such as youtube videos, downvoting is much simpler (I just tried it myself!).

Continued below.


  • TauntFourstarTauntFourstar Posts: 218 Bronze ✭✭✭
    edited April 2017
    Thanks for the heads up @Roy Sebag , I will respond with hopefully a powerful message to many...

    Share and help spread the word!
  • TauntFourstarTauntFourstar Posts: 218 Bronze ✭✭✭
    Responses have been formed and posted Not that I didn't already have these thoughts in my mind when I saw the videos originally and ignored them, but now after a call for assistance, I can put thought on "screen".
  • GoldmattersGoldmatters Posts: 4,020 Admin
    @TauntFourstar awesome. Lets all work together to fight this :)
  • GMONEY1GMONEY1 Posts: 426 Silver ✭✭✭✭
    Honestly, I was skeptical of Goldmoney/Bitgold about a year ago, but then I did extensive research on Roy, Josh, Darrell, and the Goldmoney side as well. Literally, hours upon hours of research (my wife thought I was nuts). But the people (and their research and perspective) made me realize that these guys are the real deal.

    I came to realize that Gold isn't a "fear trade" as pushed in MSM; it is a common sensical long term store of wealth. As such, the common wo/man should have access to gold... and Goldmoney and its founders make up a passionate bunch who have made that happen. They have laid a foundation; they have established a network; they have made significant in-roads from a regulatory perspective; they have built a technical framework on which this idea and vision of democratizing gold can grow and prosper.

    All the other negative videos are just noise.

    But... I will say the psychology of early adoption and (b)reaching the tipping point is a fragile process; so I admire the legal response from GM leadership. It always amazes me how many blind spots go undetected (eg banks, swaps, derivatives, fiat) before the masses realize what they really need (i.e. Sound unit of measure)...namely, gold... Which is at the core of the business.

    Keep up the great work @Roy Sebag et al. The world needs you.
  • PowerlunchmoneyPowerlunchmoney Posts: 274 Bronze ✭✭✭
    edited April 2017
    I've been "correcting" a troll on the Stockhouse forum regularly for the last year. He does seem like a disgruntled competitor. As a shareholder this also affects my bottomline and i can't have that. I'd urge other shareholders to take back that forum instead of leaving it for the dogs. I'm not without my gripes of the company, but still believe in the vision set out by @Roy Sebag and @Josh Crumb. Fight the good fight.
  • TexTex Posts: 197 Bronze ✭✭✭
    @GMONEY1 "hours upon hours of research (my wife thought I was nuts)."
    I'm glad I'm not the only guy out there whose wife thought that. :wink:

    Godspeed everyone.
  • GoldmattersGoldmatters Posts: 4,020 Admin
    @GMONEY1 @Tex Pretty sure mine still thinks that! Good thing she doesnt visit this Community board and confirm all her worse fears of my insanity!
  • 79Au19779Au197 Posts: 4,047 Gold ✭✭✭✭✭
    edited April 2017
    What can I say that hasn't been said above, except to reiterate that @Roy Sebag is the "real deal" for whom I have the upmost respect and trust. @Roy Sebag and @Josh Crumb have a game changing vision that deserves to succeed.

    I have been a BitGold/Goldmoney account holder since it became available in the US. I am not a large account holder and I was a minor stockholder until recently when I was forced to sell my shares to raise cash for some personal issues (I will own shares again). I believe in Goldmoney, @Roy Sebag , @Josh Crumb , and @Darrell. Their motives are genuine and their logic is flawless.

    My experience with Goldmoney has been generally without problem (at least not on the Goldmoney end). On those rare times where I hit a snag, @Melanie and the other Golden Ninjas have corrected the situation in record time. Goldmoney is to my mind THE most cost effective way to own and use gold.

    @Roy Sebag I will do what I can to correct the misinformation that exists about Goldmoney. The fact that you have come to the board to ask for our support means a lot to me and says it all.

    Christian Bergman (aka @d4t4wr4ngl3r)
    Republic of Texas, USA
  • GoldmattersGoldmatters Posts: 4,020 Admin
    edited April 2017
    Guys, this stuff is fantastic. This is my favorite thread in a long time!

    I want to gently point out that the time and effort we are spending on this thread (myself most definitely included) can hopefully be also used beyond this forum, as that is what Roy has asked of us :)

    Perhaps we can report back our progress to see how this is helping Goldmoney in search results etc?

    Personally I have commented in the links that @Roy Sebag has provided and found it very easy to register for the appopriate forums to do so.

    So far it has been very easy, just talking about the same things we talk about here every day but to people who are less educated on the Matter :)

    After doing so I FELT GREAT!!!! It feels really good to know that I am helping Goldmoney. I encourage everyone to do the same and report back!!

  • GoldmattersGoldmatters Posts: 4,020 Admin
    edited April 2017
    @GoldStandardCanadian Point taken.

    However I see an opportunity to do both, combat and negate false information, while pointing out the positive attributes of Goldmoney. Arguing with trolls is not done for the sake of arguing or convincing the trolls, as Nassim Taleb (Author of the black swan) points out....

    "Never argue with people in private (you will not convince them); argue in public to convince others."

  • GoldStandardCanadianGoldStandardCanadian Posts: 148 Bronze ✭✭✭
    I like that quote. Haven't heard it before.
  • 79Au19779Au197 Posts: 4,047 Gold ✭✭✭✭✭
    edited April 2017
    @Roy Sebag - responded to

    At 9:21 into the video, the author shows a screenshot from TrustPilot indicating that Goldmoney had 1,137 reviews with an average rating of 8.5 out of 10. Let met repeat that … 1,137 reviews with an average rating of 8.5 out of 10. The author then goes on to cherry pick a few negative reviews. David Seaman may have blogged about BitGold/Goldmoney, but he has no formal affiliation with Goldmoney. He has also blogged extensively about Bitcoin and other cryptocurrencies. My personal experience with Goldmoney is in line with the TrustPilot summary of "1,137 reviews with an average rating of 8.5 out of 10". I have had very few issues and of those few issues all have been resolved to my satisfaction.
  • GoldmattersGoldmatters Posts: 4,020 Admin
    @79Au197 awesome! A GMH comes through! Now everyone support @79Au197 by upvoting his post like I just did !
  • 79Au19779Au197 Posts: 4,047 Gold ✭✭✭✭✭
    edited April 2017
    @Roy Sebag I tried to watch, but could not stomach this talking head for over an hour. I did down vote the video.

    Have you every watched any of the "flat earth" videos? This guy strikes me as the same. Unfortunately the infowebs and YouTube give everyone equal status to say whatever comes into there heads.
  • GoldmattersGoldmatters Posts: 4,020 Admin
    Pleasantly surprised that this is starting to work! Just checked and the most recent few comments on @Roy Sebag 's list (the youtube) are all reflecting the positive qualities of Goldmoney and the truth of this Company. Keep up the good work people!
  • 79Au19779Au197 Posts: 4,047 Gold ✭✭✭✭✭
    edited April 2017
    @GoldMatters thank you for the praise … please don't bother upvoting my post above. BUT please DOWNVOTE the links @Roy Sebag listed in his original post.

    PS included in italics my comments (
  • 79Au19779Au197 Posts: 4,047 Gold ✭✭✭✭✭
  • 79Au19779Au197 Posts: 4,047 Gold ✭✭✭✭✭
    edited April 2017
    @Roy Sebag @GoldMatters - the guy at Lift The Veil is certainly milking his assertion that Goldmoney is a scam for all it is worth.

    @Roy Sebag - you have in the past commented on the positive aspects of the "Network effect". Lift The Veil is the perfect example of the negative effects. I wish you the best of luck in fighting this because the more you try to fight it the worse it is likely to get.

    Once again - to anyone reading this who cares about the reputation of Goldmoney - go to

    and at the very least downvote the videos in hopes of pushing them lower in queue. Unfortunately every click gives them more status on YouTube.

    PS I tend to be a very private person, especially where my finances are concerned. @Roy Sebag I hope you appreciate how far out my comfort zone I have gone to publicly support Goldmoney. I would not have done so if I did not share your vision.

    PPS much of the bad press comes from folks who … when things don't work … are frustrated by not being able to instantly contact Goldmoney customer support. Despite having a million or more satisfied users, a handful of vocal disgruntled users empowered by the Internet can effectively counter a million happy silent users. @Roy Sebag @Darrell for this reason alone I urge you to seriously reconsider your decision to drop phone support.
  • GoldStandardCanadianGoldStandardCanadian Posts: 148 Bronze ✭✭✭
    Looks like some YouTube links have been removed from a formal defamation complaint. Much more effective than downvoting. Kudos to YouTube for their genuine screening.
  • GoldmattersGoldmatters Posts: 4,020 Admin
    @Uvas While the negative PR from the YouTube videos and other misinformation cannot stop the expansion of Goldmoney, it can certainly slow it down and create a sense of fear amongst new users.

    No doubt many people do a google search when first considering opening an account and may be dissuaded by these misleading and misguided testimonials.

    If we can do something about this we should. If for no other reason than it benefits us directly as users to have as many users as possible.

    Each time we get a new user its a new chance to get a new transaction, a new merchant, a new advocate to spread the word and make this as big as possible.

    If 1 person with a youtube channel and false information can cause so much trouble, imagine what a cohesive, intelligent, and tech savvy group of passionate Goldmoney advocates can do ....together.

  • soeborgsoeborg Posts: 29 Tin ✭
    edited April 2017
    All big success like Facebook, had bad people like these in the early days but made it anyway. If goldmoney has the potential to become big, this shouldn't and isn't gonna stop it.
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