Go compare NXT's UI ( http://nxt.org) to Counterpary's UI. NXT's is definitely winning on the UI front. Counterparty has feeds, betting and CFDs, which NXT doesn't do yet. NXT has a decentralised asset exchange with faster trading via 1 minute block times and doesn't waste any energy because it's proof-of-stake. Counterparty has 10 minute block times and relies on Bitcoin, which requires a couple nuclear power plants to run. ... There are advantages and disadvantages when comparing Counterparty with other decentralized exchanges. NXT is by far the most user friendly I have found. One of Swarm's main focuses for the next couple months will be improving the user experience around Counterparty, after which we expect that no one will be able to say that NXT or any other altcoin has better UI. We plan to do this through swarming other coins, so if you have anything in particular you are itching to do please contact me. We want to support you and the XCP ecosystem. |
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you guys are better off answering investor questions on this forum , you guys are doing a pretty terrible job at communicating
True. Our social media coordinator had a major family emergency last week and disappeared just as we were launching. Response time has not been particularly good but she is back and we are pushing forward with more comprehensive material. |
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Swarm will start officially accepting XCP very soon. Stay tuned.
We also welcome XCP supporters to our Skype group, which we plan to use to jumpstart a serious marketing move around Counterparty.
Add "beningram" or "jdietz04" on Skype. Next week is going to be full force ahead.
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Here are some general answers to some common critiques while we work on a more robust FAQ. First, there are no six figure salaries. All of our salaries are calculated on minimum "startup salary" given the cost of living in Silicon Valley. Although it is possible to work for less or elsewhere, I find that there are tons of advantages to hiring top talent and working in Silicon Valley and you need a bit of money to do these things. Second, we did take in some XCP (and even some MSC and DOGE) in our presale, which is why some of the numbers don't add up perfectly when it comes to the percentage. We are planning to start accepting XCP officially early next week and when we do that we will make sure that all of the funds raised are auditable so people can see exactly how much has come in. Third, the initial target of 1,000 BTC was done with the idea of what we would need to support operations to build a very robust platform. This was actually my original targeted raise. We've already achieved this goal and thank you for everyone who supported us. Our decision to accept 21,500 BTC if the market decides that our project is with goals were developed with the idea of what we could do to actually support other project as an "accelerator." If we do a large raise then we will have a lot of funds to use to support other types of coin-powered incubator in a couple different cities, including projects like Ethereum. I had a major concern that if we raised such a large amount we wouldn't spend it well, so I put together an advisory board that includes Vitalik Buterin, one of the Counterparty core devs, David Johnston of DApps Fund / Bitangels, and some people who haven't been announced yet. The format for the advisory board is this: Advisory My desire for the advisory board is to have one monthly meeting at the end of the month. It will have the following agenda: (1) Reporting on the previous month's accomplishments You can see the sort of reporting i did for my last startup here: https://docs.google.com/spreadsheet/ccc?key=0AkAYilpVrnk4dHQ2R0UyVzAtM05faER6M1RoWXpUZFE&usp=drive_web#gid=3 This includes detailed breakdowns of code commits, lines of code, and growth metrics like number of active users, ideally with associated graphs. (2) Reviewing the past month's expenditures (3) Approving projected expenditures for the next month expenditures The goal is that this takes no more than one hour once a month. Reports are obviously to be prepared in advance. Also, I don't think we need more than 1-2 advisors, but meeting notes should be transcribed and made available to the public. I would like to have the first advisors' meeting at some point towards the end of June. I expect we will have this meeting in the next week with this format. This way people can see what we are doing and will do with the funds raised. Feel free to ask more questions. Sorry again we aren't getting back to them immediately but we were super busy in the couple days post launch. |
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Thought some of you might like to see the BitAngels due diligence report ( https://docs.google.com/document/d/12VLfibhGGSwy4cuHUZUG5ngEVTZoZ6_dKKqLGwhhdik/edit): This is a live document and will be updated based on most recent information. Due Diligence Report on SWARM
The following report is NOT intended as advice to purchase software. This report is presented for purely informational purposes. ALWAYS conduct your own due diligence before buying digital tokens associated with a software project during a crowdsale. TLDR: SWARM http://www.swarmcorp.com/ is an open source project to build a “distributed incubator to help people fund their ideas” by issuing digitial tokens on top of protocols such as Counter Party and the Master Protocol (potentially more in the future, SWARM is platform agnostic). The current project client is built on top of Counter Party, however SWARM have announced plans to also integrate Master Protocol in the coming months. Their crowdsale starts June 17th at 12:00 a.m. midnight U.S. central time. The team is has the full technical stack covered. This will be one of the first front end interfaces to create digital tokens (though it does have competition in Coin Powers and other efforts) and relies on the Bitcoin Protocol and Counter Party to function. The price of the tokens will rise during the period of the crowdsale based on the volume of SWARM coins that are purchased with bitcoins. See http://www.swarmcorp.com/ for details. BTC is the only currency accepted during the crowdsale. View the SWARM Presentation and Q&A at the following link: https://drive.google.com/file/d/0B0Ibqr7Y2XcNNlowMzNJZjkwT0U/edit?usp=sharingSummary The SWARM project was founded by Joel Dietz to make issuing digital tokens as easy as the press of a button on a mobile app. The project decided to issue it own digital token in order to fuel development and acquisition of market share. The sale of these digital tokens known as SWARM begins June 17th at 12:00 a.m. midnight U.S. central as part of a crowdsale. Crowdsale On June 17th at 12:00 midnight U.S. Central Time A total of 100,000,000 SWARM Coins are available for sale during the crowdsale event which runs for a period of 33 days until July 20th or until the total number of SWARM Coins is sold. The pricing of the SWARM tokens is determined based on the volume that is sold. Specifically SWARM is selling SWARM Coins at a rate of 5,250 SWARM coins per bitcoin the participant sends in. This rate of SWARM declines the more bitcoin are collected until four thousand BTC are collected and the price increases to 4,250 SWARM per bitcoin. This generation process could continue all the way until twenty one thousand bitcoin are collected and the generation rate falls to 3,750 SWARM per bitcoin. Details found at: http://www.swarmcorp.com/It is worth noting that the SWARM team does not expect to collect the maximum number of bitcoins by selling out all of their tokens (though it is possible if demand has been underestimated). Instead, the project has set a range of price points and is leaving it up to the market to decide the proper price of SWARM Coins. If the market decides this projects is highly valued, than the price of the coins will reach a higher level during the crowdsale. Conversely, if the market decides that this projects is not as highly valued, than the price of the coins will not rise as high during the crowdsale. Either way the pricing of these tokens is for the market to determine. Team The co-founders of SWARM (Joel Dietz and Jef Cavens) are both located in Berlin, Germany at the moment though both are originally from the U.S. and often reside in Palo Alto. Joel’s focus on is the back end of the application and Jef is focused on the design aspects of the application. Here I will highlights from their back grounds. Joel Dietz ( www.linkedin.com/in/joeldietz) Educated at Brown, Joel has spent the last seven years in a variety of positions from software developer to startup entrepreneur. He has made many contributions to the Bitcoin community the past several years as part of projects ranging from Master Protocol to Ethereum. Now with a focus on Bitcoin 2.0 technologies. Jef Cavens ( www.linkedin.com/in/thomasverhoye) Jef has spent the past 14 years in different design and creative roles in the software space. His strong design influence is felt in the presentations, application wire frames and websites that SWARM has already produced. Economics The utility of SWARM is based on the charging of a fee to users in order to issue their digital tokens. This fee is taken in the form of a small percentage of the digital tokens issued by the user (around 2%, subject to change) at the time they are generated. This fee is then sent to different parties. 1% of the fee to all the holders of SWARM coins. 1% to the SWARM Foundation. While this fee provides a great deal of utility to the holders of SWARM, it also makes the protocol more vulnerable to the risk of folking and alternative versions of the project emerging that don’t charge a fee. If the market will accept this fee remains to be seen, though for perspective it is less than half of the fee that current incubators such as 500 startups and Y Combinator charge (typically 6% or more). Technical Description The creation of the SWARM clients is not technically difficult in the sense that they do not have to research or provide any new cryptographic proofs for the functioning of the system. Instead, the system relies on the existing Bitcoin and Counter Party for its basic functions and transfer of value. Challenges There are a number of existing incubators such as 500 Startups and Y Combinator, and platforms such as Angel List that offer projects an ability to raise development funding for their ideas. While today, these services are centralized and use legacy financial models, if these competitors were to begin embracing crypto currency and change their models to that of open source, they would be tough competition for SWARM. Depending on how much network size effect the SWARM project is able to gain before its competitors adopt the same or similar model will largely determine its success. There are also new entrants into the this space including Coin Powers, which are using the Counter Party and Master Protocols in order to provide functionality very similar to that of SWARM and will be competing for similar users. Again, the speed at which the SWARM team can move developmentally and to grab market share is likely to have a dramatic impact on how successful their project is. We are also working to provide a comprehensive FAQ that answers many of the questions that have come up on Bitcointalk. Sorry we can't get to all of them immediately. |
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BitAngels due diligence report on SWARM ( https://docs.google.com/document/d/12VLfibhGGSwy4cuHUZUG5ngEVTZoZ6_dKKqLGwhhdik/edit): This is a live document and will be updated based on most recent information. Due Diligence Report on SWARM
The following report is NOT intended as advice to purchase software. This report is presented for purely informational purposes. ALWAYS conduct your own due diligence before buying digital tokens associated with a software project during a crowdsale. TLDR: SWARM http://www.swarmcorp.com/ is an open source project to build a “distributed incubator to help people fund their ideas” by issuing digitial tokens on top of protocols such as Counter Party and the Master Protocol (potentially more in the future, SWARM is platform agnostic). The current project client is built on top of Counter Party, however SWARM have announced plans to also integrate Master Protocol in the coming months. Their crowdsale starts June 17th at 12:00 a.m. midnight U.S. central time. The team is has the full technical stack covered. This will be one of the first front end interfaces to create digital tokens (though it does have competition in Coin Powers and other efforts) and relies on the Bitcoin Protocol and Counter Party to function. The price of the tokens will rise during the period of the crowdsale based on the volume of SWARM coins that are purchased with bitcoins. See http://www.swarmcorp.com/ for details. BTC is the only currency accepted during the crowdsale. View the SWARM Presentation and Q&A at the following link: https://drive.google.com/file/d/0B0Ibqr7Y2XcNNlowMzNJZjkwT0U/edit?usp=sharingSummary The SWARM project was founded by Joel Dietz to make issuing digital tokens as easy as the press of a button on a mobile app. The project decided to issue it own digital token in order to fuel development and acquisition of market share. The sale of these digital tokens known as SWARM begins June 17th at 12:00 a.m. midnight U.S. central as part of a crowdsale. Crowdsale On June 17th at 12:00 midnight U.S. Central Time A total of 100,000,000 SWARM Coins are available for sale during the crowdsale event which runs for a period of 33 days until July 20th or until the total number of SWARM Coins is sold. The pricing of the SWARM tokens is determined based on the volume that is sold. Specifically SWARM is selling SWARM Coins at a rate of 5,250 SWARM coins per bitcoin the participant sends in. This rate of SWARM declines the more bitcoin are collected until four thousand BTC are collected and the price increases to 4,250 SWARM per bitcoin. This generation process could continue all the way until twenty one thousand bitcoin are collected and the generation rate falls to 3,750 SWARM per bitcoin. Details found at: http://www.swarmcorp.com/It is worth noting that the SWARM team does not expect to collect the maximum number of bitcoins by selling out all of their tokens (though it is possible if demand has been underestimated). Instead, the project has set a range of price points and is leaving it up to the market to decide the proper price of SWARM Coins. If the market decides this projects is highly valued, than the price of the coins will reach a higher level during the crowdsale. Conversely, if the market decides that this projects is not as highly valued, than the price of the coins will not rise as high during the crowdsale. Either way the pricing of these tokens is for the market to determine. Team The co-founders of SWARM (Joel Dietz and Jef Cavens) are both located in Berlin, Germany at the moment though both are originally from the U.S. and often reside in Palo Alto. Joel’s focus on is the back end of the application and Jef is focused on the design aspects of the application. Here I will highlights from their back grounds. Joel Dietz ( www.linkedin.com/in/joeldietz) Educated at Brown, Joel has spent the last seven years in a variety of positions from software developer to startup entrepreneur. He has made many contributions to the Bitcoin community the past several years as part of projects ranging from Master Protocol to Ethereum. Now with a focus on Bitcoin 2.0 technologies. Jef Cavens ( www.linkedin.com/in/thomasverhoye) Jef has spent the past 14 years in different design and creative roles in the software space. His strong design influence is felt in the presentations, application wire frames and websites that SWARM has already produced. Economics The utility of SWARM is based on the charging of a fee to users in order to issue their digital tokens. This fee is taken in the form of a small percentage of the digital tokens issued by the user (around 2%, subject to change) at the time they are generated. This fee is then sent to different parties. 1% of the fee to all the holders of SWARM coins. 1% to the SWARM Foundation. While this fee provides a great deal of utility to the holders of SWARM, it also makes the protocol more vulnerable to the risk of folking and alternative versions of the project emerging that don’t charge a fee. If the market will accept this fee remains to be seen, though for perspective it is less than half of the fee that current incubators such as 500 startups and Y Combinator charge (typically 6% or more). Technical Description The creation of the SWARM clients is not technically difficult in the sense that they do not have to research or provide any new cryptographic proofs for the functioning of the system. Instead, the system relies on the existing Bitcoin and Counter Party for its basic functions and transfer of value. Challenges There are a number of existing incubators such as 500 Startups and Y Combinator, and platforms such as Angel List that offer projects an ability to raise development funding for their ideas. While today, these services are centralized and use legacy financial models, if these competitors were to begin embracing crypto currency and change their models to that of open source, they would be tough competition for SWARM. Depending on how much network size effect the SWARM project is able to gain before its competitors adopt the same or similar model will largely determine its success. There are also new entrants into the this space including Coin Powers, which are using the Counter Party and Master Protocols in order to provide functionality very similar to that of SWARM and will be competing for similar users. Again, the speed at which the SWARM team can move developmentally and to grab market share is likely to have a dramatic impact on how successful their project is. |
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I have just read the last pages, and I am in a very bad mood...
Guys, we must recognize that Counterparty is very useful but XCP is useless.
Even Swarm won't use XCP, and community even thinks it is better for XCP because of risks ?!...Are we kidding ?
What happens with community's minimal ambition, competition and risk tolerance ?
Did you notice that even Maidsafe is ahead us !!! What a "chaotic IPO" !!!!
Nxt is 10 times more valuated, and its assets exchange, which was after CP, is not better but far more used now. Battle lost.
Everyone has left the thread. The first month was really exciting, but almost nothing happens since. 1 or 2 pages per week...
It is the first coin nobody talks about value, like a taboo ! Very lately, they were news like talks with overstock, xbet.io, a kind of privacy with mixing , swarm on press, even coindesk and NOBODY CARES !
...
I can't see XCP successful if we can't answer precisely why, and even when or how much. Chance is not an option.
Sorry for be provocative, but we can't have a XCP as low as 0.0035 BTC anymore, it is insane. It should be in the top 5 easily NOW.
I agree. I think this requires a lot of marketing. Many many people have heard of NXT and Mastercoin, but very few have heard of Counterparty. We need to change this. #xcp #tothemoon |
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Please allow xcp in swarm IPO  I think this is a good suggestion. You are using the counterparty infrastructure, why wouldn't you allow the token to be used as well? I think it's a great suggestion as well. In fact we already set up an XCP -> SWARM vending machine just as we currently have a BTC -> SWARM vending machine. Problem is we didn't want to turn it on without testing it thoroughly and I haven't had the time. We also want to integrate it into the feed on www.swarmcorp.com so that you can see both incoming BTC and XCP. Hopefully I will have time this weekend to make sure everything is working fine and then we will start accepting XCP as well. |
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I am surprised that the Swarm Crowd Sale has not had better participation. This to me seems like the future of raising money. I mean they have raised over $700,000 in less than 24 hours which is not too shabby, but MaidSafe raised 5 million in 5 hours.
Any thoughts?
I think one of the reasons Maidsafe raised so much is that there were several big tickets that moved millions of dollars worth of Mastercoins into Maidsafe and this created a big rush and then a lot of speculation. I would rather grow our crowdsale gradually and well, since that's also how we want to develop our project. |
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Thanks for all the feedback. I always like to see criticism and am personally very interested in reading detailed comparisons of NXT to XCP. I thought Counterparty (XCP) provided all of the functionality we needed on the blockchain, although to be honest I'm also very excited about more advanced off-blockchain solutions and always interested to hear more. As for our funding, our target is 4,500 BTC. If we raise a large amount we will use it to launch a number of decentralized accelerators that fund projects on a coin basis. I'm already aware of a number of projects around Counterparty that want to use this model and we are excited to many more. I actually am a huge believer in grassroots projects. Most of our funding has also been grassroots and that is exactly what we want to facilitate. I think a platform that provides easy access to coin offerings will allow many people to very easily launch their own coins supported by the blockchain. We are always interested in talking to people about innovative ideas, so feel free to ping me on skype, "jdietz04" or Tox (tox://148A68D603DB62AC695232FE163DBADA9F63A6EE9EDFD2A2C40713877B053055154C1A1A0C16) Instructions on how to join our crowdsale are available on our website, www.swarmcorp.com |
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Perhaps a separate topic in which you bundle all information is useful. Couldn't find much on the website :/
Good idea. I'll work on that this evening (still recovering from our launch party last night in Berlin). |
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I dont know if this is the correct topic but regarding swarm kind of ipo i think the second phase is ridiculous, 17,000 btcs will not be fulfilled and less chance if they dont reveal technical aspecs, they only say this will be a awesome coin, project, bla bla but dont say why.
17,000 BTC is a very ambitious target, I admit that. We focused at the moment at reaching the 4,000 BTC goal, but if we do actually reach 17,000 BTC we will have a lot of funds to help support projects (e.g. other things that enhance the Counterparty ecosystem), so I hope we do a larger amount. At the moment we actually need to stay focused on building the platform, like the dashboard we released on launch. |
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Swarm "Indications of Interest" is now full. Thanks for the interest from all sides. We also are happy to be XCP holders and look forward to building up the ecosystem around Counterparty.
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I don't completely get the point. Anyone can already launch their own "coin" on Counterparty. What is the value added by Swarm? They just make it sleeker / easier and promote the new coin?
It's somewhat similar to Kickstarter but for crypto. Anyone can do a fundraiser now, but it's a lot easier to do it when you have a nice user interface and a page telling you details about the project. There is a whole article on SWARM on Coindesk ( http://www.coindesk.com/swarm-take-bitcoin-crowdfunding-new-heights/):
How Swarm Plans to Become the Facebook of Crowdfunding
Richard Boase (@richardboase) | Published on June 9, 2014 at 16:43 BST | Bitcoin protocol, News, Regulation, Technology
inShare
65Share84
Swarm Logo
A new company called Swarm Corp is launching a decentralized crowdfunding platform that will allow companies to sell cryptographic shares easily and quickly by creating their own digital currencies.
Swarm’s COO Ben Ingram described the platform as “the Facebook of crowdfunding”. Powered by the Counterparty protocol, it effectively operates like a social network for cryptocurrency investors.
As well as helping entrepreneurs kickstart their financial product or service, Swarm aims to eliminate previous failures and scammers by performing crowdsourced due diligence on each entrepreneur or team.
The company’s CEO Joel Dietz envisages that the best initial use case is in accelerating startups, and Ingram indicated that there are already plans for a Swarm incubator based in London.
Dietz said: “The moment I saw the user-created assets on Counterparty a light bulb came on in my head – this is the future of crowdfunding.”
Experienced team
To raise initial capital, Swarm will be issuing its own cryptocurrency, swarmcoin, starting with a crowdsale on 17th June, which will entitle investors to a portion of the coins launched on the company’s platform in future.
Following David Johnston’s strict approach to BitAngel investing, which demands that both investments and subsequent returns are made in bitcoin, Dietz plans to raise capital for his first round using only the digital currency – a process which he described colourfully as “eating our own dogfood”.
Adam Krellenstein and Evan Wagner, the dynamic duo that founded Counterparty XCP (the platform upon which Swarm is being launched) have been working with Swarm’s five-strong team over the last few months, and said:
“Swarm brings a high level of ability and experience to the first real crowdfunding platform, with a senior engineer previously with Microsoft and Linkedin, a Salesforce MVP, alumni from Loyola, Brown, Harvard and Penn State, and an accomplished user-interface and design specialist.
Collective intelligence
For those in the know, Counterparty is akin to the mastercoin protocol and leverages the bitcoin block chain to offer services – much like a decentralized exchange for tokens, assets, smart property and potentially, shares, stocks and bonds.
Where the mastercoin and Counterparty protocols apparently differ is in their governance and issuance structure.
The now not-so-anonymous XCP devs said that they looked at the mastercoin protocol and “basically threw out everything [they] didn’t like”, creating “a simpler better version of a Bitcoin 2.0 protocol”, which is ideally suited to enable crowdfunding and accelerators, adding:
“Swarm is based on the idea that the collective intelligence of decentralized networks can evolve faster and out-perform centralised systems.”
Swarm relies on the ‘Vennd’ function of XCP, which has in turn become it’s own separate entity that is due to launch soon. So, the company capitalises and magnifies the use of bitcoin technology, taking advantage of the new swarm-like models of information distribution engendered by decentralised network behaviour.
Fair returns
Does this new form of venture capital fundraising really apply to everyone, however? For example, does a product like Oculus Rift belong on the platform as Dietz’ implies?
He put it this way:
“The Oculus Rift raised over $2m dollars on Kickstarter and then the owner turned around and sold it to Facebook for $2bn. What did the participants in the crowdfunder get? A t-shirt?”
“With Swarm those who put in always get something out, cryptoequity can even be enforced with corporate bylaws, meaning that if Facebook then wanted to buy the product (or company) they’d need to buy out a majority of the stakeholders, Dietz said. “It’s a model that makes investing in projects like the Oculus Rift more fun and potentially more lucrative.”
swarm
Dietz explained that he wants to build an app that is “as easy to use as Tinder”, where you can flick between ‘crypto-share offerings’ in a multitude of markets, select the ones you like and buy shares quickly and easily without the hassle of dealing with stockbrokers.
The regulation issue
In light of Erik Vorhees’ recent rap on the knuckles by the SEC, there is concern over the legality of making equity offerings in crypto companies, as regulators can levy fines retroactively to punish those they consider to have breached the rules. This is despite the fact that purely crypto-based companies don’t need to hold bank accounts and, if handled properly, can reasonably be expected to operate outside of existing regulation in perpetuity.
Skype’s former COO Michael Jackson recently argued that bitcoin companies often don’t need and shouldn’t seek regulations, saying:
“If companies can make a case for themselves that they don’t need regulation, they shouldn’t even go near it.”
He further explained that Skype did not ask permission from existing Telecoms regulators to operate, because they weren’t a telecom and never claimed to be one.
“The general problem when issuing any kind of token where there is some expectation of realisable future profit is that it is possible the law will construe that as a security,” said Preston Byrne, securitization and cryptocurrency lawyer and Adam Smith Institute Fellow. “Although in certain cases where very small numbers of investors are involved this is not necessarily a problem, when dealing with large issuances to hundreds or thousands of members of the public it almost certainly is.”
“For startups and investors alike,” he continued, “crypto-securities platforms hold the potential to democratise access to capital.”
“However, they will not be adopted by businesses of any serious stature unless the contingent liability of regulatory sanction is mitigated – which, given the newness of the field, requires comprehensive pre-launch legal structuring advice.”
Could SWARM be the Tinder or the Facebook of Crowdfunding?
Could Swarm be the Tinder of crowdfunding?
Lessons learned
With this mixture of talent and features, Swarm seems very promising, but the UK Digital Currency Association’s Simon Dixon pointed out that regulations surrounding equity crowdfunding exist largely to protect consumers.
Investors should always do their own due diligence, however, he said, and with criticisms and controversy still raging around the recent record-breaking crowdsale of MaidSafe on the mastercoin platform, angel pioneers and crypto-cowboys alike are asking hard questions of themselves and their industry.
Investor David Johnston is bullish about Swarm, calling it “the future of the next generation crowdsales” and the Swarm team has been careful to take note of that lessons learned from the MaidSafe experience.
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Also where to find details about the swarm ipo?
Do I need to contact someone at Swarm in order to find out where to send the BTC? www.swarmcorp.com doesn't have any contact info. Swarm is in an indication of interest phase. I think they will make an announcement of some kind when the real sale begins on June 17th. To confirm, Swarm is not currently for sale? Swarm, or more specifically, Preswarm(?), is available for people who meet these requirements: https://bitcointalk.org/index.php?topic=395761.msg7103305#msg7103305The goal of the indications of interest was to give contributors early access and test our backend. I think we've fulfilled that goal (80% subscribed), so I'm happy to open it up. You can message me here but I respond more quickly via Skype (jdietz04) or Tox (tox://148A68D603DB62AC695232FE163DBADA9F63A6EE9EDFD2A2C40713877B053055D61C2276F72A). |
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I'd like to invest in Swarm. Can I do that from the online wallet?
Yes, you can use Counterwallet or Blockchain.info. Is Swarm currently an asset listed in Counterwallet? What is the official name? Edit: Or will it only be available on June 17? I see a few assets for sale now with the Swarm name. For security reasons we are issuing SWARMPRE through the fundraising period, which will be converted to SWARM at the end of the fundraiser. Both of these assets are already created and visible. |
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Cryptoequity: Legal ConsiderationsJoel Dietz, a member of the community, has authored a nice paper that provides an overview of the US legal landscape surrounding fund-raising with Counterparty and other crypto platforms. We've posted his paper on our blog for anyone interested: https://www.counterparty.co/cryptoequity-legal-considerations/We hope this will help others interested in this very relevant application on Counterparty technology, and we're excited about Counterparty continuing to power some of the most innovative enterprises in Bitcoin. Actually one of my main consideration is why BTCT and BitFunder could not survive but Spawn can. Is there any main difference between them and Spawn? I believe Swarm is directing users to http://counterwallet.co, and the cryptoproperty they're selling (SWARM) are assets owned by individual backers bitcoin addresses, so the answer to your particular question "What happens if Swarm fails" is a little complex. If swarm the company fails, the value they were going to provide in exchange for SWARM (access to their crowdfunding platform and other things) won't be there, so the value will almost certainly go down in the event the company giving it value fails. but that failure would not result in the loss of the token. Where the centralized crypto-equity exchanges take the records and tradable asset with them when they go, the demise of swarm would have zero impact on the token (SWARM) holdings of its users. So it's better in one way, but no different in the other. Failure is still bad, just not paralyzing. Thanks a lot for your thoughts, mindtomatter. I am more concern about the Swarm project, not the Swarm token. If Swarm project cannot succeed, the Swarm token has zero value. I don't want to be just an early adopter earning money by selling high to the late comers. Pretty much everything that has been said so far is true. If Swarm as a corporate entity fails, then SWARM tokens will probably lose value. That said, because SWARM actually distributes new tokens and access to presale that are done on the SWARM platform, it is quite possible that all of these other tokens acquired via SWARM will increase in value even if the legal entity behind SWARM is shut down. So the downside risk is relatively small. That said, we are working hard to make sure that SWARM is compliant with local regulation. Also even if the US locks us out we can still offer our sales to non-US residents. One other interesting possibility is that we could continue offering coin launches without any associated legal entity. |
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How to indicate interest? Is it a kind of private sale before Open Phase 1? Anyone can join this private sale? Thanks.
That's basically correct. We are allowing early access to folks who have been around for awhile and contributed to Counterparty in some way. Matt Y has specific information on how to participate. You can contact him for details. |
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