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The developers of Gnosis are being way too greedy.
They could end up with $12.5m and also own more than 50% od the coins as well.

Gnosis is an open source blockchain project, not a private company.

They can't make it closed source, yet they act as though it is. They need us to secure the network. We don't need them.



https://www.reddit.com/r/ethtrader/comments/64ch1j/gnosis_crowdsale_price/?sort=top

i would agree if someone can do a better job then them and on that i doubt
anyone in the crypto could take people to use a copy of the platform and not the original.

own more than 50% of the coin ? are you serious ? :o
this is the best strategy ever in this crypto industry,,
because the dev will easily dumping the price

and congrats for the dev  :'(

Looks like the devs might own more than 90% of the coins. What a joke,

Stupid developers. Stupid investors. Worst ICO  ever   ::)

Yes they tried to make best of the ICO structure. They are now valued at 300m with only 4% of distributed coins

lol unbelievable...people gave $12.5 million to get 5% of the tokens...
Once they're finished dumping this thing will be fractions of a cent.

Looks like real ICO will begins when developers start selling remaining 95.8% coins:
https://steemit.com/ethereum/@kingscrown/gnosis-ico-raised-12-5million-dollars-in-10-minutes-making-the-token-312-million-usd-market-capitalization-worth

IIUC the developers can't sell for 12 months. 12 months is a long time in crypto.

But why would the developers want 95%. They must have been happy to end up with 95% or they would not have had that option open.

Just 5% worth of shares have sold by the dev, It seems very odd for me. They're trying to make it will so expensive if the coin already tradable on the exchange site. Over 95% has held by the dev. My guess there will be manipulated on the gnosis price in the future by the dev.
So, the early adopters must pay more to buy some of gnosis token in the future, This as a scenario by the dev.

Going to be hard to manipulate the price. For the price to stay at the ICO level someone is going to have to buy the tokens at $31.

I doubt anyone will do that. This will crash, and people will feel screwed because the developers did not take care to make sure they explained this new system.

tbh its totally ridiculous, $12.5M within short frame of time is good

But just less than 10% of coins?

Seems like a shark

Gnosis Classic?  ;D
If someone will do it and do just the same thing without founders being greedy, I think the rest will. bet? There are however projects like it that exist already. SONM I think is just one. There's also Elastic and Golem.

Its not developers fault it was supposed to be dutch auction but the investors rushed in from the fear of missing out so the amount of coin sold was minimal

longer would have waited cheaper the coin would have been.

There target was to raise $12.5million % of coins owned by investor was upto investors.

Like i said Investors messed up if you ask me its a classic sign of bubble.

Aren't Sonm Golem and Elastic supercomputer projects? This is prediction markets.
Auger is one project that does this. There must be others though, and for sure other projects will arise before the 95% can be sold in 12 months time

It could have been ok, as long as the final tokens were bought at a low price.
That's the problem with buying too early in this situation. Someone else can tip it over the line forcing you to pay the high price, if you bid early.

The developers should have thought this through. The developers and Vitalik might be talented in some techy areas but have little common sense.


Or as some wag on reddit remarked..."how come they didn't predict this?" :)

https://www.reddit.com/r/ethtrader/comments/67afmd/gnosis_auction_reaches_goal_after_12_minutes/


another insta ICO .... these ICO's get worse and worse.

If an ico does not give at least 1 month of fair participation opportunity to all it should be labelled a scam and treated as a pariah.

When coins were instamined on POW if the dev instamined 10% it was called a scam.

Now with ICO's you have devs being given 12m dollars and taking all the coins.

If you invested in this then you better hope their are a bunch of people who are willing to be manipulated by the developers to sell more as they control the market. But to believe this project is instantly a top 5 coin is far fetched so most investors will lose.

All these super computer projects and prediction projects look like manipulated scams to me. Sure on some you will be able to make some returns but still their markets are manipulated to hell those propping them up are going to get burned hard one day.

I do not even know this ICO. For me an ICO that last so short and that is not even presented publicly here is not worth anything.

They are not greedy, their investors have no brain, the rule is there, but they panic bought, they deserve to lose money if GNO will be 10 usd. It is not worth so 30 usd.

These two things are not mutually exclusive

Although you are accusing devs, Poloniex will open GNO trading within one week according to their announcement on twitter.

Poloniex guys are not the holiest ones. Even though I love their platform, they are also quite greedy, and they probably involved in some weird operations.

STOP BUYING ICO GARBAGE UNPROVEN SHIT

True!

Free market will decide.

I think that you should change the thread's title to : " Gnosis's greedy investors "
Because the developers aren't to be blaimed here, as the investors agreed to invest at this price. Now if the Gnosis developers wants to be fair, they will give a change to their invostors to sell their stock as it will drop what ever happens.
Now if it is a scam, they will directly dump it, and we will have a new thread in the scam accusation section. And a lot of threads here of people complaining about been scamed by Gnosis.

300M valuation market is exaggerated

They are greedy devs but its us feeding them. We are to be blamed also! >:(

So true.  And then they complain loudly and publicly.

Futures markets are predicting $75 USD price for Gnosis tokens.

If that holds up people could do very well out of it. Still utterly insane.

Greedy devs and stupid investors.
The devs should not have had that option. The opening price should have been closer to $5

Bollocks

A prediction commits only those who believe it.

Beside of that, i seriously doubt that Gnosis price will reach that height, at least not the first two years. And it is so insane to invest so much on just a fraction of the total available tokens.

The price will, what ever people says (fuds and hyips mainly) dump.

Investors love maths. So as apparently they are good enough at calculating the revenues on investments they should be good at calculating the inflation and its effects on their assets. You buy 5% at 35$, when they will sell, let's say 10% of the total available, it is -50% directly at listing without any dump from the devs, and if they dump, then it is -99% straight.

No...the devs set a trap and people fell into it

insta fake ICO, this way it creating hype and FOMO, it also got much chance of getting lists with exchanges. this is the birth of insta ICO, cosmos, gnosis...

You can rest assured that the developers do not start acting against themselves. There is no sense in selling the tokens and killing your project. If you have not yet realized that the developers probably have some agreements with the main exchanges.

Yeah sounds like the sort of backroom deals and scams crypto is getting to grips with now.

Fully agree, the investors has a chance to buy the auction with lower price , but they didn't . So the greedy here are only the investors, the team was really smart, they did'nt sell out all the token like real pro.

Insta ICOs are next stage of ICOs PnD fucking brilliant IDEA.
Invest 1st on FOMO or watch pumping chart on pure manipulation:D

That guy who invented that system was genius :D

All I can say about what I have read from gnosis and it's awful ICO is that, its gonna be fun to trade once it hits poloniex, I expect massive dumping with massive bounces but overall bleeding. Not sure where else is going to be listed tho.

lol why massive dumping? You think investors are stupid? there are no free bounty coin, no devs coin until 12 months. There are only FEW investors coin for 12 months..and your prediction is a mass dump? There will be a mass pump and everyone knows about this, the rest is FUD or crying people that have not partecipated to the ICO.

I don't know if you are an Gnosis ICO investor, but sadly yes, I think gnosis ICO investors are ridiculously stupid by the way they managed the auction. Rushing into completing the funding goal in 10 minutes left them with only 4% of the total supply, by locking for 12 months the rest % it won't change the fact that the total market cap is waaay overvalued by the way the auction ended.
Why not waited enough so the % distributed would've been bigger which then in turn would've left more room to grow and pump? A whale might've wanted to complete the goal so fast so its easier to control the market, in that case, a parabolic pump wouldn't be a surprise, but smart money is patient and, well, smart, and this ICO was everything but patient and smart.

but isn't this like many good coins are sold now, ETH for example had a very big premine but no one complained about, decred also had a 800k coins premined for the dev plus all the airdrop, which i'm sure went to the same people, not fair distribution, there is no fair distribution in crypto it's all a lie, always few etilist have many coins and the other must buy their scam

Don't forget 2 people got 50% of the ICO coins.

So only 2.5% was distributed, leaving 97.5% in the hands of a few major bagholders.

A truly awful way to start a company.

On a positive note, entrepreneurs around the globe just got another taste of how quickly FinTech is taking off and how much money is going in. I don't think we've seen anything yet.

GNO tokens are to begin trading on Kraken and Poloniex on May 1.

Just 5% at ICO might be a move to prevent cliff-off start on the exchanges. The tokens look pretty heavy, so have a good potential for long walk to South at even mild volumes of offerings.

an yu described now perfectly what is about that whole cryptocoins acosystem to make quick rich.

This is like be HERO from ZERO :D
Yea but 1st you need crypto retards buying your ICO token/ coin  .

Gnosis investor spotted. But i agree with you that there are no massive dump right after the coin listed to poloniex. They are just making FUD so that they can buy at dump price. I bought some of it but I will sell it once it hits on a exchange. With FUD all over the forum, i think there will be dump to occur. :)

Another pointless ether scam token that will NEVER be released. Want to get rich? Start a "zomg supercompooter prediction market" ether token and watch the dumb money roll in

Not correct. No one had a chance to buy at a lower price. Lower prices were only possible if the Auction lasted longer

Honestly it's just people who came into a windfall due to the Ethereum price run-up because they got lucky, pretending like they're knowledgeable investors.  The rampant speculation is getting out of control now with these ICOs, where literally 99% of the people contributing money have no idea how any of the stuff they're "investing" in even works and many of them haven't even bothered to read the whitepapers.  Sooner or later they're going to learn why they shouldn't just throw money at every dumbass ICO.

With 96% of the coins to be released onto the open market in a year the price chart of this is going to be a complete joke even if the market itself works.  And what's the point of a prediction market where almost all the tokens are held by the creators?  They'll have to distribute out the remaining coins for it to actually work properly, which means every idiot who bought into this ICO will be diluted into oblivion. 

So funny to read all of these  crying people  ;D ;D ;D ;D

C'mon guys low supply- few investors and 12 months of full speculation. A trader dream, price will skyrocket and any smart person how has invested knows about this. No one will sell, GNO is a rare coin and everyone will buy for this reason.

So please continue with your crying posts were GNO is a scam and devs are evil. We like it, it's fun!

Do you have any evidence of 2 people buying 50% of the ico?

Right here m8: https://www.bitmex.com/app/contract/GNOM17

Bitmex has contracts predicting 0.08 btc currently.