I don't assume any dev is a noble romantic here... besides maybe the noble coin dev...

If I was the cynical sort, I'd assume that the devs planned to make money off of a theoretical bela rise. Not hard to do, just have a bunch of bela sitting around with not enough liquidity in the market to sell ...  so create up an ICO using bela for payment. A popular ico would result in the coin at least going 2-3x with at least a small amount of liquidity. XCR comes to mind in regard to Lisk... coin basically tripled if I recall correctly.

But so far it didn't boost bela up that much.

And I wouldn't assume if it was btc only it'd be a great success either. The key reason folks became interested here were because of the free bounties + bela exchange rate. For myself, besides the fact I simply like chess, the lack of interest in the coin was what made me actually interested ... if this thing was piling in tons of btc, I probably wouldn't even follow it.

Best timing for android app is after ICO, around when coin hits real exchanges. Not now. What would it do now, slightly boost up yobit's numbers that won't matter in the least by the time we all get our coins? The devs should time the app + whatever else they have planned to around when coins are given out, to temper dumping at least somewhat.

And it's meaningless. Did you also check the daily volume? .1 btc. Crumbs. Who cares? Not even sure why it's open for trading when the ICO is still ongoing. Why buy coins off the exchange when you can get them here via the ICO? The exchange prices don't correspond to ICO prices, as until the ICO is over nobody knows exactly how many coins they are getting.

The Yobit IOU model works AFTER the ICO period is over, but before the coin hits normal exchanges. No idea why there is even a listing right now.

For those outside of crypto-land... market manipulation alone would put every single coin into the scam category, including btc.

For those playing here, it's usually much more simple: if a person loses money on a coin, it's a scam.

Personally, I figure every coin will be manipulated, every dev has an ulterior motive, and it's just a risk-reward game trying to determine which coin may be the least shady.

Coin is on yobit... it's a meaningless exchange to begin with, but I wouldn't expect tons of demand right now anyway -- why pay for the coin on yobit when the ICO is still ongoing? It's also chesscoin. I mean, be honest -- now I like chess, but it's not some revolutionary new blockchain technology, or is a flashy coin that promises to change the world of commerce. It is what it is.

Yet that can work to one's advantage too. Low demand, low profile coin... fine, means less folks signing up for bounties when compared to Lisk/Waves/Rise/Whatever coin. So less dumping afterwards. Also means everyone who invests get a higher proportion of coins too once the ICO is over.

Now nobody knows how it will do, it could dump to smithereens, dev could vanish, or be a coin nobody cares about. At the same time, the ICO world is full of those coins that didn't get much interest early on, so early ICO adopters got lots of coins very little money ... and even if it does so-so, it's an insane ROI.

If you believe the coin will drop, not a bad strategy to sell some and buy back in later.

Or alternatively, set some really low buy orders... if they hit, your overall break-even price will be cut a lot. Problem there is figuring out a realistic low buy number that has a chance of being hit, and at the same time not being wrong and it sinks even lower.

Didn't get in on this ICO myself (did the Lisk thing, this one just felt like a cheap copycat), besides the twitter bounty. By the way, have they started giving that out yet?

Real in the sense of showing potential interest in the coin, fake in regard to the numbers really meaning anything. Not sure why the coin is even trading at this point... guess yobit bought some early chesscoin just for trading with? A bit better than doing the IOU thing, anyway.

Chesscoin needs to get on something besides yobit by the time the ICO ends. Not sure if anyone (including myself) trusts yobit at all, even for small trades.

Yeah, tested it and it works. Also PMed you a concern about how this is all set up.

Didn't think we needed to, since you just stated this:

Earlier investors don't need to refill the form for this mail.

I got a confirmation email, although it didn't really list any details of my investment ... basically just this:


We have received your investment!

Thanks for your ChessCoin Project Support!

I suggest a confirmation email with amount invested, txid and so on. Since the bela chain is moving again, it should be at least doable to confirm pretty quickly now. I know my coins already made it through the blockchain.

You need the wallet to get your chesscoin address, which you then include in the ICO form. So yep.

Might as well make a Fire version while you are at it, and get it on Amazon. Assuming Amazon doesn't have crypto rules for apps... which they might.

Bittrex is where to aim for.

As for bellacoin holders, they'll have to weigh the odds of bella rising due to investors here vs where they think chesscoin will go. It's also possible they'd be better off just holding bella and selling closer to the end of the ICO, if they think bella will be higher then (due to investors grabbing bella to invest here).

The weirdness I find is how the bella market is so tiny. A small amount of btc turns you into a whale. It's sort of fun to see the chart change based on really small orders... makes one feel like a fat whale when you are really just a minnow.

Yes. Although realize that if everyone does this, the real value of the avg ico investment will be all the same... meaning it's not like there is a guarantee when the coin hits an exchange, folks will view the value at .00001. They'll view it as whatever they paid for the bela.

The way it'd work out well is if more folks invest with btc, or bela slowly rises in price to match the ICO value (ie what XCR did during the Lisk ICO).

The delay with Bela was primarily the reason I brought up confirmations. Ideally the investor sending in bela would get a confirmation number with pending coins sent, and date, just in case the blockchain takes forever (like past the timeframe of the ICO). A pending confirmation isn't exactly proof of anything, but at least then there is some recourse later on if the chain moves like a super slug ... and the investor has proof he submitted the form at a specific time.

Ideally this will become moot if the bela blockchain simply starts moving again.

Well, I meant more like a general ICO tab, with info on investments sent in so far, or at least email confirmation. That way if there is a problem after the ICO is over, at least we have the emails (with confirmation numbers, or something) we can use to show we invested. Although I guess you plan to do that manually after a spam check. From other ICOs, I'm used to seeing that stuff all automated.

I'll make a suggestion -- provide info on invested coins to date, as well as send an email confirmation to investors with the amount of coins they are donating.

I did a test donation the other day, no email confirmation, no record on the site ... it's like the coins went to limbo (well, until the chain moves, guess they sort of did).

Nobody can answer that, and if they do, you should ignore them.

Usually large amounts like that gulped up all at once is just a whale selling to himself... with the idea of creating a dump (which did occur). Although really, it doesn't matter either way. Neither situation is a good one... either it was a real sale, so a whale dumped into the dev, or the dev dumped to himself.

Guess the dev playing manipulation games is actually the better alternative when I think of it, at least it means he's still in control of the price.

I stand corrected then. One moment it was there, next it was gone. I assumed it was pulled, as a ton of btc was still remaining on that wall.


Although whales selling to themselves isn't exactly something new here, so we don't really know if it was the equivalent to being pulled or eaten.

Oh, I definitely agree with that. Just mentioning it was pulled in regard to your comment that the devs would make a buy back wall that dumpers can't break. If they wanted to, they could have already done that. But since they haven't, and in fact went out of their way not to do that... yeah, their min will be less than 30K.

And that makes sense really. With a pump-dump coin, it's a lot easier to create a dump (for argument's sake, let's say 10K) and then get back to 30K on a new exchange listing ... 3x profit. The alternative is going from 30K to 90K on a coin that hasn't been doing so well... that way is harder.

I'm also not saying that will happen, as who knows... don't want to get accused of FUD. Just an observation.