Either the developer is a lunatic, or this is a giant money grab. To ask 50 BTC for a 1% stake in a project like this is absurd. This project may be worth 50BTC as a WHOLE, not for 1%.
(...)
Stay away.
The thing is, we do not know what's the project is worth ! 50BTC? 5000BTC ?? It is 50 BTC now and maybe more in the years later. I feel they definitely have something of value to offer and the 50BTC is really not something to write home about, especially if it gets spread thinly among many investors/advocates/supporters. I mean, if someone don't like it, they don't have to participate. In fact, I am glad the 50 BTC will only buy a 1% stake, because this will leave enough room for others to also participate further down the line. Can you imagine offering a 100% sake for 50BTC... how concentrated will that spread be and will it give others any incentive further down the line to participate? I think not.
One person can NOT be trusted with $3,500,000 dollars.
But this is what you are thinking it is alright to do?
That is the initial valuation, 3.5 mill.
If the value goes up, you think its all right to trust some anonymous person with $10,000,000? how about $30,000,000?
if you answered yes to any of those questions you are delusional or willingly deceptive.
This man will control every single coin every generated. You will have to buy them from him.For those of you wondering HOW Skycoin is generated, it's not. The entire market cap will already exist at coin launch and the only way to get it is to buy it from the developers at the price that THEY set.
Tell me this is a great idea?
Please, someone try to explain to me why that's a safe idea?
Cryptocurrencies were created to avoid the monopolistic authoritarian process of federal banks and their centralized control on the populace. This is returning us to that state with a few new features.What do we want to control, $3.5m worth of Skycoin or $3.5m in fiat? If control over fiat is the issue, then we're clearly don't have the right mind set to make cryptocurrencies work. Anyhow, I didn't say it should be in control of one person... thinly spread means many folks benefit (at least in my book). Despite this, assuming in worst case scenario there is only one person and he makes 1% of Skycoin available at 50BTC, it is not that he will be sitting with $3.5m and we with nothing. For that to be true, you have to assume that what he will be selling is worthless. Anyhow, how do you get to one person and in almost the same sentence you give developers a mention? How many people are involved, one or more than one? Perhaps you could explain to me, especially given the fact that I am probably "delusional or willingly deceptive." "The entire market cap will already exist at coin launch and the only way to get it is to buy it from the developers at the price that THEY set." - How do you think companies list on stock exchanges or folks buy or invest in companies? You have the God given right to buy at the price set or not. There is nothing strange or unjust about it. Anyhow, what exactly do you propose in terms of fair distribution? |
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Either the developer is a lunatic, or this is a giant money grab. To ask 50 BTC for a 1% stake in a project like this is absurd. This project may be worth 50BTC as a WHOLE, not for 1%.
(...)
Stay away.
The thing is, we do not know what's the project is worth ! 50BTC? 5000BTC ?? It is 50 BTC now and maybe more in the years later. I feel they definitely have something of value to offer and the 50BTC is really not something to write home about, especially if it gets spread thinly among many investors/advocates/supporters. I mean, if someone don't like it, they don't have to participate. In fact, I am glad the 50 BTC will only buy a 1% stake, because this will leave enough room for others to also participate further down the line. Can you imagine offering a 100% sake for 50BTC... how concentrated will that spread be and will it give others any incentive further down the line to participate? I think not. |
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Thanks for the clarification. |
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The same here.  |
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Hashrate calculators fixed
When I go to the pool stats, I see 1,434.545 under MAX/Day (or MaxCoin per day). Now does that denote just over 1.4 units or just over 1434 units per day?  |
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I am mining MaxCoin via the Mining4all Maxcoin Pool. Now there is something that confuses me. I've tried to contact pool management via the contact form, but without success. So I am hoping to get clarity here... When I go to the pool stats, I see 1,434.545 under MAX/Day (or MaxCoin per day). Now does that denote just over 1.4 units or just over 1434 units? |
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Cryptsy seems perfectly fine to me. Deposits and withdrawals are slow but it always works and they have enough volume to ensure fast trade executions. The only people that seem to be pissed off at them are the impatient kiddies.
Yeah, send your money my way so that I can sit on it and use my own discretion when to give you access to your own money! I don't care about the losses you will suffer in the meantime and continue to call myself an exchange. What a joke. |
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Cant realy see why peeps hate crypty so much. I think they are good.
The more you trade on there the faster everything gets for you. In the beginning it realy sucks. But thats a good so beginners gets scared ^^
I am not new to Cryptsy and they screw me over, so that holds little water. We're not talking about a couple of hours' delay to honor deposits, but days. I will be moving my business soon and use all my crypto websites to get word out. This is completely unacceptable. I can understand that problems will occur from time to time, but they for most part choose to keep us in the dark, which is completely unacceptable. I am smelling a rat and will be jumping ship. |
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Having constant deposit delays with FST for all last 2 months,
but if it were delayed for 24 hours at first, and i already accustomed,
last week they forget to deposit fastcoins at all.
Last delay was 72 hours, although all arrived.
But from this time - its already 6 days - ive sent a lot of FST deposits at this days - no any coins on balance.
I have set auto payout on pool - so there already about 90-100 transctions, seems like this peoples at cryptsy
sit and consider all deposits with abacus.
Coin Name | Cryptsy Deposit or Withdrawal | Affecting Everyone? | Average Hold time | Notes
------------------------------------------------------------------------------------------------------------------------------------------------
FastCoin - FST - Deposit - Many - 5 and more days -
I am experiencing the exact same problem. I am considering my options and will be moving my business to another exchange soon. I can understand that problems creep in from time to time, but Cryptsy for most part choose to keep us in the dark and ignore us, which is completely unacceptable. |
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I voted.  fwan4mTAwDeFygSDdeXmZmBuy7ff7nhDkJ P.S. I've read your tweets late. I will reply later today. :-) |
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Thank you. Dimecoin received. |
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Almost all of the alt-coins out there are going to be a waste of time. They're being created to take advantage of people who get super excited about different things and then get pumped and dumped. Be careful about wasting time with too many alt coins. Be careful about downloading files, seems like there's plenty of wallet stealers around hidden as alt coin miners.Seen some more of this recently, so wanted to highlight the point. Here's some good info from later in the thread: 1) Don't just trust the status of a member, anyone can write 500 posts and be a hero member in a short period. This just means that he invested some time on his membership. He can always decide that a profitable scam will be a good payment for his time. 2) Never deal with anyone without doing a search in the forum with his nickname, in order to check if he has scam accusations. 3) Ask for his coin address and always search it on blockchain.info or www.cryptocoinexplorer.com to verify if his address has the amounts he is claiming. 4) Be very suspicious about proposals well under market price or if he accepts your proposal under market price with no negotiation. 5) Look for the reputation of the member (his successful trades, in the form of vouches from the other party on the deal). 6) Even if he has some reputation, never send all the money in one transfer: send one first very small tranche (0.1 btc might be a good start) and wait for his payment. Send a second little higher tranche and wait again, etc. Small increments, because he might decide to pay you the first and second, to scam a bigger tranche. Always suspect if he doesn't accept to trade in small tranches. 7) If he has no reputation (including most cases when he is a newbie or a Jr.), even small tranches are a risk. Better use an escrow system, like the one of bitmit.net, or a trusted member, or you might need to send over 10 very small tranches. It can be annoying, but loosing your money will be more. 8] For big amounts always use an escrow system, unless the member has an excellent reputation. Since this thread is a sticky, I decided to post this here. Any moderator or member feel free to move, copy or improve these rules at will. I couldn't agree more. |
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