Fair enough. But I think the warning should be more like, "these guys are slow to give refunds".

I just looked around my "control panel" at cryptonomos and unfortunately I couldn't even find an easy way to send my leftover eth/btc back to my wallet.
I agree that this is lame. I should be able to easily send my eth/btc (and preferably also usd) back to myself if I want to, at any time. In my case, I bought as many tokens as I could and now I just have leftover btc/eth in my account. I should have instant access to that. And, maybe I do. But I could not find it.
I don't personally think cryptonomos has bad intentions though. I would just say maybe not the best customer service options, in the case.

After you transfer your money to cryptonomos, you still have to actually *buy* the token you want.
Otherwise, how would they know which token to issue you?
You realize cryptonomos sells more than one token, right?
So, just sending them USD is not enough. You have to tell them which tokens you want, hence the "buy" button on their dashboard.

I used USD bank transfer to buy WTT with no problem.
I just bought 2 ICOS with no problem as well (but this time I used btc instead of usd).

I've seen several people in this thread asking to buy people's WTT. I think that bodes well for the future value of WTT.
I'm fairly new to all of this but I don't recall it being often that I see people trying to buy tokens/coins that are not on an exchange and post-ico.

Clearly there is some real, non-speculative, value to these tokens.

I planned on holding on to my tokens but depending on what you're offering I have 5645 tokens coming in batch 3 and batch 4. Feel free to PM me.

You have a good understanding of everything, from what I know so far.

NOTE: These are not official answers as I am not related to the project. But I thought you had good questions and I wanted to provide the answers for you.


Yes, it is.

"very" is a relative term. It might be more optimal to have 20 L3's and 18000 token. Who knows?
But two L3's with 1760 tokens will work great.

I pre ordered a couple of them a few months ago, and recently sold them on ebay. There are more available on ebay, but for a serious premium.

Yes.

This is what we have been told, but detail have been scarce.

Not that I know of.

This is my understanding.

I have not seen this be clarified.

Yes. (This did not used to be the case, but it is now.)

That is a matter of opinion and psychic powers. It depends how much you are able to buy the token for on the exchanges and their availability. And it assumes that renting out the tokens is a bad thing to do in the interim.

Maybe you think the ICO price is a good (low) price. Or maybe you're concerned about available supply on the open market post ico.

We're all speculating, to some extent. But I have not seen any super thorough analysis form anyone.

Answering your own questions now

Yes, that is my understanding. The token's value is intrinsic, regardless of where/how you get the token.

If/when you decide to buy your tokens, you can do so here: https://cryptonomos.com/?r=1lv0eNDlOmhWNTu18ev35yyLJ

How do we know what this 97% identify as? Apparently gender is not even a real thing. I'm a mongoose.

I appreciate everyone's replies; thanks.

Some people talk about how much work, time, credentials, etc. are necessary for an ICO to succeed.  And that makes perfect sense to me.

The confusion comes in when I look at the ICO's that are raising stupid amounts of money.  I review their project, credentials, white papers, etc. and they are garbage.  Half the time the white papers have basic spelling errors.  It is a joke. It makes it very tempting for someone who would actually act professionally.  It seems like you don't need to really do anything special except for make an ANN thread with a half legible white paper.

Again, I don't doubt that this is a misconception; things always appear easier than they are.  But, that is how it seems on the surface.

Thank you mudiko.


If a token is built on top of etherum (which appears to be simple to do) do transactions for that token automatically show up somewhere public for people to check, like the ethereum blockchain I guess? Or is that something separate that I would need to implement?

I have several questions about how ICOs work.
I see people raising crazy amounts of money for, often, very weak projects.

- If I have a good project, is ICO actually a viable path for someone like me*?
- Does the token need to have a function, or be backed by something specific besides the company itself?
- Does the token actually need to exist? Could someone just raise money and keep a database of donors and then issue them the "tokens" later?
- I see different types of tokens: pos, pow, etc. What's to stop someone from just using email addresses in a database and calling it a "token"? Like, what makes a token a token?
- can a token represent a share of common stock in a private corporation?
- if so, can I use an ICO as sort of like a "private" IPO? That's how it seems, which is what makes it appealing.
- Does the company/project have to have something to do with or otherwise utilize coin technology (blockchain etc)?

I had intended on starting a corporation and issuing common shares of stock.
Then, I planned to sell that stock to people privately in order to raise funds for my project.
This is a very common and standard way of raising money for a company.

Then I stumble into the world of bitcoin/crypto and I learn (kinda) about ico's.
Now I'm thinking, "shoot, I have a real project that has a fully developed and working alpha. I could throw it up on bct and raise a cajillion dollars with an ICO."

Can someone just school me on why or why not this is good thinking?

Thanks.

---
* me = average person, not rich, not politically connected, not on board of any big corporations, etc. I am a software developer that works for a small company.

project = I have a legitimate project that I think is much more interesting than a lot of the stuff I have seen. My code is written and working including a server/desktop application, an android app, an ios app, and a website. But it has nothing to do with bitcoin/crypto in any way.

Crap out your popcorn? Crap on your popcorn? Crap out popcorn-shaped craps? Play craps with popcorn dice?

Please elaborate.  I do not want to misuse this advice.

To host content it says to just run the client and you will host whatever you download.

Few questions, if anyone knows:

1. Is there a place where you can verify/see what you are hosting?
2. It says the app will give you LBC everytime someone downloads content from you. Does this only include paid (lbc) content or also the free content?
3. Is there a place where you can see the LBC that you get for hosting?
4. tangential: I am just now using the UI and I see it has an integrated wallet which has my balance and details from my lbry wallet that I created in the command-line client. How did the UI load the same wallet? I don't remember specifying a wallet file name anywhere. Also, how do I back up my wallet?

Thanks.

I used USD.  ACH'd (iirc) from my bank's website directly to gigwatt's bank in San Francisco (again, iirc).
It was painless. But there was the 2-3 day delay (which was properly disclaimed). I could have chosen a same-day wire for like $30 but my bank is lame and your bank might be cheaper.

Right. I was referring to the public exchanges when contemplating its potential value ceiling. In other words, the speculative value of this token might have a limit to it due to being tied to an actual asset with measurable value. So, my proposition is that the backing of the token by the rental/infrastructure both gives it real value (as opposed to purely speculative value) as well as real limits (as opposed to a lot of these coins/tokens that are backed by nothing but are able to grow endlessly).

Of course, as I mentioned, I concede completely that this value varies based on current demand and predicted future demand.
I bought wtt so I obviously don't doubt its potential. But I wonder if it has a self-imposed value limit that other tokens don't necessarily have?

I am curious to hear from smarter people than myself, because I am basically pulling this out of my butt. I hear people talking about market cap and supply and blah blah, and most of that means nothing to me, so maybe I am oversimplifying in my thought process out of ignorance. Maybe speculation ignores silly things like real value. I genuinely do not know.

I had the same thought.  Disclaimer: I am new to all of this.
By being attached to the 50 year 1 watt of power, it might put a fairly hard ceiling on the value of the token.
If people can become convinced that the value of the token is based on the value of 50 years of 1 watt rental at Gigawatt, and the rental fee has a fixed amount (as it appears to have), then you can literally calculate the exact value of the coin (obviously this assumes nothing changes over the next 50 years, which is ridiculous.  But you get my point.)

According to the cryptonomos calculator which is available here: https://cryptonomos.com/?r=1lv0eNDlOmhWNTu18ev35yyLJ
You can rent the tokens out for a max of $0.56502 per token per year.
Multiply that by 50 years, and you get a lifetime value of $28.25 per token.

Of course this assumes the tokens are being rented out.  But a similar formula could be used, based on the savings in rental fees, if the tokens were being used to cover miner rental feesL
Again, according to the cryptonomos calculator which is available here: https://cryptonomos.com/?r=1lv0eNDlOmhWNTu18ev35yyLJ
You will save $0.5913 per token per year.
Multiply that by 50 years, and you get a lifetime value of $29.565 per token.

So, based on this simple concept, we would assume that the value of one token should be at the very most $29.565, which is awesome for investors if it actually went this high.

Of course people will guess about what the value of mining/electricity will be over the next 50 years and apply that to the possible future value the token brings.  That's where things get interesting, I suppose.

Again I am totally new at this and I realize this is simple logic that only works in a vacuum.  But I thought it might be worthwhile to consider.

GigaWatt WTT tokens are very compelling.
These tokens can be used to rent mining space at their Washington facility.
Also you can rent your tokens out to people for profit while you hold your token (if you don't use them for mining)


Here is the ANN: https://bitcointalk.org/index.php?topic=1914900.20

You can learn more at the Cryptonomos website: https://cryptonomos.com/?r=1lv0eNDlOmhWNTu18ev35yyLJ

You can send your own miners.  Afaik there is like a $20 setup fee. Also I think they do some sort of basic maintenance/upkeep on the miners. You have to pay for shipping/customs/taxes etc. They will deploy the machine for you.

They are opening more facilities and they won't issue you your tokens until there is space for them. So by the time you get your tokens I assume there should be space for your miner too.

You can buy WTT tokens at https://cryptonomos.com/?r=1lv0eNDlOmhWNTu18ev35yyLJ.

As others have said:

(from their faq)

Hello.

I saw people mention that we can get 5 LBC by signing up at
https://lbry.io/get?r=DVP1Z

But when I signed up I did not get 5LBC.  Do I need to wait for the invite first?

Thanks!