Bitcoin Forum

Tell us more.

Yeah sorry about that posted the thread to early by accident. I will finish the write up asap.

coin info?

is it a new code coin?

Waiting for specifications

Specifications are subject to change if most investors feel that they could be improved.

everything looks good until I see Algorithm : Scrypt.......hmmm

It's an established algorithm and it will make it easy for the funds to be distributed efficiently. However, as I said above feedback is always appreciated.

I would vote cryptonote/cryptonight
https://cryptonote.org/inside.php

when is release date?

I've just added phases to the OP.

Don't forget to follow xero on twitter: https://twitter.com/xerocurrency . I will be announcing investors perks as certain milestones are hit.

edit: Added distribution.

Alright no problem, if you have any questions just ask.

escrow?

After some initial feedback the reward per block has been changed to 150.

Sure if you would like but all expenses are paid by yourself. Do however check my trust if you need reisurrance.

Thanks for the feedback, much appreciated.

An IPO that is 50% to advertise a coin with 0% new or innovative features...

yeah...

...no

 :-\

That money would be better spent investing in marketing and advertising an established coin that already has a community, features and architecture.

You are entitled to your own opinion, thanks for the feedback. However sometimes a coin with a plan for the future is better than a coin with new features just take a look at HVC.

Just a small update on IPO divdends:

They will be non - transferable for 6 months. After that a 3% will be inncured when transferimg ownership.

80% of divedends will go to investors and 20% to coin plan. These dividends will be paid out quarterly unless they are to small.

long-term plan? right now I can see nothing.

what's different between others ?

What is the innovation of this coin?

This coin might not have technical innovation but that's not needed, its innovation is the plan for the future. The IPO money won't be used to buy Lamborghini's and houses, it will be used to promote the coin. If you take a look at HVC with its great features from a technical standpoint they are amazing but there is a reason why its trading at 1\10 IPO price because the money was spent by the devs on anything they liked.

I dont see what is innovative about this coin? the fact that you will use the IPO to fund the coin? thats been done before...

Thanks for the feedback. Some of the money will reinvested so investors could potentially get their money back just on that.

Also there must be a reason why doge is so successful right? Advertising.

I'm not sure if I would invest because I'm not sure there is a need for yet another scrypt coin, but I agree that innovation for the sake of innovation is not the only thing. Also, it is nice to see that the promoter of the coin is not a new account but someone with real activity and a complete profile that can be researched. Just for that I'll think about it.

Tell me more details

You're kidding, right?

Could you please explain this a little more clearly with real figures please? Like for example, if you received a total of 10 BTC (.1 BTC from 100 people), and the coin launched on June 1st 2014, what exactly does one of the investors who invested .1 BTC recieve and when.

Also could you have one official escrow arranged for collection and have them announce their fee on the OP, so people have a choice. I think bigger investors would prefer the escrow and the fee is usually relatively very small.

Yes, I will be publishing a document with a more detailed plan soon. The short of is that it will depend on what we invest in.

I'm going to be honest and say that I'm not the greatest developer in the world but I have a few ideas for marketing / supporting community projects etc. I have an idea for a new algorithm if that's what people are looking for but the work would have to be outsourced.

It's great that you start your information from na IPO, mates. Good luck!

Ok let's assume that we invest in SCRYPT-X BY CRYPTX (https://www.havelockinvestments.com/fund.php?symbol=SCRYPT) since they have a proven track record.

This is how it would be broken down:

20% of the 10BTC is used for reinvestment so that means we have 2BTC.

2BTC will purchase us 50 SCRYPT-X shares.

50 shares are split between the coin and investors.  This means that the Coin Fund will receive 10 shares and each investor will get 0.4 of a share.

Divdends will be received every fiscal quarter so if we launch on June 1st this would be 30 September (July 1st would be to early).

If we assume that SCRYPT makes the same amount of money each week as it did this week. Each investor will receive 0.0037 BTC if they invest 0.1BTC.

So unlike other coins, the investor are also investing in a coin fund.

If the shares are ever sold they will be re-invested else where or the money will go back the Coin Fund.

how to join the IPO

The IPO doesn't being till Monday. Details of the IPO will be released soon.

Ok... what about Xero coins then? how many would they get in the above example for the person who puts in .1 BTC?

This solely depends on the total amount of funds we raise. The total held by investors will be 25% of the Coin supply or 12 , 000 , 000 coins.

So if we raise the goal of 25BTC:

Each 1BTC investment will be worth 480 000 XR . This means that each 0.1BTC investment will be worth 48 000 XR.

Yeah... sorry about that I've changed it to 5 hours.

Good idea,waitting

Me too

Scrypt coins need a really good plan or it will die like a firefly

What is the function? I see not much information.

waiting for some news.xero?----intel? ;)

We need something new...

I think this coin is too similar to others.
You say it will different future, But now how could you let us trust you..

I'm not a brand new member with no history like most IPO founders

Prospectus will be uploaded on Sunday, right now there is not a lot of news to give.

Thanks for the feedback, this has already been answered.  A few examples of how innovation isnt always the key: FLT, MYR and HVC.

must old coin code..

It seems like there a lot of concerns some of which some are more valid than others but there isn't a lot of interest. I will announce on Sunday if the IPO will be going ahead in its current form.

If the details are changed this coin will most likely become a fully pos investment coin where dividends are paid out. However it also means that a higher percentage of IPO funds will go to the team.However there is a possibility of a total cancellation.

good ideas

Looks very strong, but I don't see what?

I'm not sure that I understand your question.

On another note we are considering to change the plan by placing most of the IPO funds in to a financial 'multipool' .

If we were to go ahead with the new plan, 90% of the funds will go towards a financial multipool. Rest of the funds will be used for social marketing and expenses.

This multipool will be investment fund which pays out dividends in xero each week. Investors will have a 49% voting share on the long term investments made. 90% of the dividends will be paid out to the investors, the rest (10%) will be paid out to the coin team.

Within the multipool 50% of funds will go towards long term investments, 25% will go towards purchasing mining equipment and the rest will be spent on altcoin trading.

The IPO will be divided into 4 sperate stages. In total 90% of the coin supply will go towards investors and 10% towards the team. This means that the coin will most likely change to a POS format.

Each stage will have an option of escrow and a address will be made public on where funds are held.

Updated the OP to reflect new plan.

escrows?

Yes of course. Can you recommend one?

"However unlike most IPO coins that turn out to be a scam or have no plan for the future, xero is different."

So xero will scam me during the IPO and also in the future?   ???    I mine it

No, I understand your concerns but please check my trust/post history before making them.

Also why would 90% of the total distribution go to investors if the idea was to scam?

OK, I wait for IPO and launch.

Added poll to seek feedback on dividend payout.

https://bitcointalk.org/index.php?action=profile;u=3028
anon136

Thank You. I will be sending him an private message right now.

Prospectus Published: https://drive.google.com/file/d/0BxiQW4ETFMFDclN5UHRVWVJzTlE/edit?usp=sharing

All estimates of revenue are using funds only from the first IPO which is assumed as 25BTC.

I see that your are on every IPO raising good concerns, shot answer is no.

Long answer:  I want to reward those who believed in the project from the very start. There would be no point in me looking over my shoulder because I run away with 100BTC. Im here for the long term growth as stated on a few occasions before this launch and making it clear that I believe I crypto.

I respect you're efforts in protecting the community as I try to protect it myself but please find out about the person you are accusing first. I've been here for over a year which granted is not that long in the scheme of things but I think that I have built enought trust to finally do this.

If the majority of people think this a bad idea, I will remove it. (adding a poll now)

Edit: I'm the founder of CoinAlliance and our transparency will be proven soon when the transactions report is published.

I'm willing to answer any concerns anyone has even if it means taking apart the plan word by word.

I wasn't aware that I was accusing you of anything, yet   :-*

Heres some potential issues I see with your prospectus.

1. The Reinvestments

66 weeks, (or 1.265 years) is a horrible ROI.
In the cryptocurrency market this is x10. So if that is the most you can expect from that investment you should look elsewhere.


and more importantly:

The Plan: Investors will have 49% of the voting power on where the funds are invested. Each investor will receive a percentage of this voting power depending on their initial investment. The rest of the voting will belong to the coin team.

Retaining 51% voting power means you will have majority decision on all votes. It doesn't really matter what the community decides or votes on, as you will still get to decide the outcome. If you want to do this grass-roots, for-us-by-us type of deal, you are going to need to relinquish control. You can't have it both ways. Either you are the leader and you make the decisions (but you will listen to feedback from the community), or it is a democratic and egalitarian system where a consensus is reached via voting. With that being said it's obviously still a good idea to give yourself an increased voting edge (10 or 15% seems fair, as obviously the team is more invested in the project than any one community member). This way your votes still have increased weight (due to your insight and informed position) but you can be outvoted by the community if they present an opposing plan that they feel is more beneficial.

Also thirdly and less importantly:
I don't believe investing in a scrypt miner is a good idea. At this point you've already missed the first wave, if you ordered now you would get into the second or third wave of shipments. By that time the hashing power on any "scrypt" coin will be so high it would be pointless to compete. As you already specified, it could take as long as 50 weeks to get a ROI. We saw this with the SHA256 ASICs. Everyone who got into the first wave of ASICs made a killing. Those that had shipments that were delayed or received their ASICs in the second or third wave are still hashing away trying to make their money back.
Most of the mining is now moving to X11 or Keccak/Groestl. Over the next year will have a ramp up in centralization of scrypt mining power just as we have seen with bitcoin.

What would make more sense is to just take those BTC and invest them into 10 different cryptocurrencies or cryptocurrency related businesses.
If you invest 1 BTC into 10 different currencies and after 6 months, even if 5 of them drop by 75%, 2 become worthless, 2 triple in value and one goes 10x; thats still 18.5 BTC ( .25 + .25 + .25 + .25 + .25 + 0 + 0 + 3 + 3 + 10 = 18.5 BTC ), or a 85% ROI in 6 months.

In the regular world a stock that can get you that kind of return would be amazing.

@TheMightyX I think that the points you raise are more than valid .I was thinking of implementing such a plan but thought it might be to high risk. I'm all for community feedback especially when it raises valid points or ideas.

I expect more from the SCRYPT-X investment but I want to manage expectations.

Here is what I think the best solutions would be in all of this to minimise risk. I believe that at least 25% of the funds should be put into a long term investments such as scrypt x. The rest of the money could be divided into 'sections' with 25% (of the total ) going to business and 50% going to cryptocurrency. So in a 10BTC scenario 2.5 to business and 5BTC to coins.

We would then change divdend payout to a quarterly basis. I would also be happy to relinquish voting power of the team to 25%.

Sounds good?

P.S : Sorry for jumping the gun on the accusations thing but I'm sure that you understand  considering you are on bitcointalk.

I like the ideas for the coin, people are bitching and moaning about no new features, but the fact that you have a coin with multi faceted income revenues that reward the coin holders is while not new, not yet done on such a level and with such complexity in the varying income revenues.

What i would suggest thou is that every single different income revenue/venture is controlled by a trusted committee member. sort of like how the CIA do shit, 10 people all working towards 1 goal(the coin) without direct access to the other one(investment ventures). So if something goes wrong with someone...deciding to run off or something , it is a loss of 10% of something instead of most of it. because no one person has complete control over any of the funds.

I would also say buying scrypt mining would be a lost cause and would not really see a return in money in the end. Investing would be main goal, but have them made into different sections a different person assigned to specific things....1 looking for the most profitable coins to mine, another finding new coins that are released that show promise and market cap increase in the first weeks of life. Someone looking for promising companies.

it really suits having a chat client /voting system, if you have each person in control of a certain specific type of investment that is representing part of the community, and then having 5 people who are relaying and looking out for coins or investments or websites to check out . this will be hundreds of work hours in a single day all relayed to the main person, who then can select the best potential options for voting

I think if it is super transparent while maintaining a properly function decentralised management structure . that is constantly adapting then it could be a great coin.

Main thing is adapting. long term investments in crypto that hasn't even existed really for more than 5 years is pretty dangerous in itself.

 
 

moolah.io is great for escrow services, they took care of the dogecoin nascar escrow

After all of the great points raised, we have decided to re-collaborate and hold of till AUG 22. Sorry for the inconvenience, if you have any concerns, please contact me via PM.