Bitcoin Forum

I am in the process of building a new coin w/ very strong privacy features and this has cost some money so far. I also want to hire a couple of people post-launch to further develop some mathematical ideas to achieve an even greater degree of anonymity. As I am confident that the coin has a pretty unique plan and some unusual features I was intending to raise some funds through an ICO. I have never done that before and I don't know what the best way would be and a method that people feel they could trust.

So, what are your opinion on how to arrange a reasonable ICO that would protect everyones interest. Through and exchange or an escrow or what?

U r basically asking How to scam in a way so that it appears legitimate?

Ask yourself these questions.

1.) Why am I doing this?

2.) What will the token or the coin be used for?

3.) Is the business development there.


Answer these and I will ask for more.

Depends on what kind of valuation you are shooting for. ICO's currently raise all money in one big swoop. There are potentially better ways to do it, so that you don't sell supply so early. I can detail the method if you want. Its usually easier to convince good investors earlier. If you're "going public" you need more than some ideas.

No scam. I don't understand why you think everything is a scam without having any knowledge of the project whatsoever. I haven't told you anything so how do you draw that conclusion?

1) After doing some research on current privacy centric coins I have found that there are shortcomings and they would be relatively easy to deanonymise. Users are lulled into a false sense of security.
2) I can deliver a coin that will address some of these issues and deliver something with a higher level of real world anonymity for users
3) There is a potential for development of certain mathematical ideas and improvement of the coin, but not a business model as such. The ICO would cover the cost of getting from the first stage to a product that would be attractive for other developers to work on. In other words, I get the network up and running and it will attract enough interest after a while for developers to take part and move it forward.

And yourself can answer your question, and I think you're the candidate of a new developer man, and that is will be sued you for getting you ideas and the characteristic of your ideas. in this time a lot of people is see if releasing new altcoins will becoming a rich field.

You know there are many ICOs now , and most of them failed to reach its goals , if you want to run an ICO , you should answer people's concerns , some members will ask if you use escrow to hold the money , some will ask legal questions , if you do not have knowledge you can monitor how the successful ICOs are running . You can watch ICONOMI which managed to collect investments worth $5 million and it is still on going.

You can have a look at Lykke and how we're doing funding with ColoredCoins: lykke.com/ico

There have been a lot of coins with the same features,better ask us what kind of projects do this community coin,so many coins very few usage after a 5 months or so after all the features are added nothing can be add and no usage and the dev disappear ..

Get anonymint to peer review your new ideas or someone else well known and versed in the anonymous development of cc.
If they vouch for your ideas and talents to execute them then you will have no issue getting ICO funding. Right now most have not heard of you so have no idea what you are capable of.
Of course escrow should be used for all new ico projects.

Can I ask which anonymous coins are not all that anonymous in your opinion?

Definately get an escrow and if you really want to give confidence to the investors, have the escrow only release the funds after specific milestones are reached.

This requires dedication and risk on your part as you will have to pay the developers in advance, but it will best protect the investors and will lead to a lot more confidence in your project.

Some keys:

• Reveal your identity and proof it
• Get a trusted escrow
• Work the design and marketing, find partners to help you in that job because it's time consuming
• Try to offer something new
• Don't look money hungry
• Make sure that all details are straight and easy to find

Are you thinking of something like several funding rounds at different valuations, a la startup/VC model? if not, do tell :)

look at Monero how they did it. If you have good idea and you will make opensource project you will sooner or latter got developers that will code for free.
If you need to pay codders, then your idea is nothing really special.  Then you need ICO or premine if you are so poor that you cant afford to pay them.

If you have an idea, share it and also share the full team details who will be working on project to community, work good in having detail roadmap about your project/coin before you start ICO. It is quite must to have some well known personality to be an escrow of all the ICO funds and also a model for releasing ICO funds in step by step fashion when you do and make some developments public. However i don't think many will be happy to invest thousands of bitcoin in coins that will only have name and algo changed without any new features. Try to focus on new features as well solve the recent problems other alts have.

I have two notes:
- One person can't run successful project, you may hire some marketers and developers to work with you, this point depends on your budget as well.
- You should create a good bounty system, the bounty hunters will help you to advertise your project, but you should do some steps in order to avoid spammers.

The problem is that no one is going to get behind the project.  Developing an ICO is easy and a good method is a one way token, but first you need an idea that people care about.

What do you mean by a one way token?

don't do it, no one will invest anymore in any ico above the initial little hype, they are all seen as a scam, better to focus on real features with new project like zcash, and with a pow phase that is very long, this will encourage more people to invest, if there is also mining for it

Bounties are good, but this forum has way too many under-qualified scammers and those that boost themselves up and produce no results. 

Thats not a bad idea, how can I find a trustworthy escrow?

Try to introduce a useful coin like that will have some features of currency, not only an asset to trade with and to store, coins for only trade do not survive for longer, the demand will be increased only if it will have some demand in market as a use of currency.

Look at this thread https://bitcointalk.org/index.php?topic=1102721.0 he is a  much trusted person to keep him as an escrow for your project, he is currently working as an escrow of opair project . and maybe will have some other also.

Why not let me develop the ICO code?


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https://bitcointalk.org/index.php?topic=1608878 (https://bitcointalk.org/index.php?topic=1608878)

No doubt he is one of the best and probably among the 10 ten escrow in this forum.

Hehehe. That is another way of looking at it.

@mandica. It is very hard to become a trusted entity in the cryptosphere because it is not regulated and the issuers of the ICO cannot be imprisoned. All you can do is do the best and honest job that you can. The FUD and the accusations will come whether you like it or not. So it is best to organize a simple ICO and get an exchange as an escrow agent. Poloniex will do a good job of this if they think your project is not a scam or if it is viable.

Try a few of the bid to hire sites and see how that route goes.  Maybe add a little more to the project other than "privacy features" for a system that is supposed to be transparent.