To be fair i'll answer this in an ideal world.
In an ideal world if ionomy was actually popular and had a huge user base a dev might want to run through their api to leverage the user base and advertising etc.

However none of that exists and its a big ask for 33% of your profit. The ionomy api has been stated to take 33% of your price and then split that over coin buying on exchanges (kinda like a floor program) and 66% to other things.

However its essentially just a layer on top of google play store and ios app store if and thats a big IF it doesn't get removed. Basically as a dev you pay apple 30% of each dollar for their store use and distribution point. Ionomy would like you to use their api so they can take another 33% (higher than apple) so essentially in the end you get 37% or 37 cents in the dollar.

Why you would use your talent to give over 50% to both apple and ionomy together is anyones guess. Apple i can see as the exposure and their store tech etc its obvious... ionomy... meh they really aren't giving you 33% of each dollar in value. Sure you could prebuy ion and hope 1/3 of that 33% goes back to you in profit gains but lets face it with the stakers etc there are lots of people waiting in line to take those.

Its a flawed model that hasn't been thought out and the costings quite high. If they were smart they'd run the api and scheme at a cost neutral point or 0 cost to get people first then slowly raise it when people see proper value if there is any. They have ico funds etc so no need to be greedy on more funds.

My opinion is the api no matter how great they think is just a link between ios/google purchases and sending some coins/money to exchanges to buy/sell. Regardless of how concrete it is it offers not much to devs and basically is run so that devs provide value to ion.

It'll fail spectacularly. When first released i suspect there will be a spike on buyers because everyone will want it to go ahead but it won't sustain itself. It'll drop off after a brief spike.

Passive coins are non competitive by nature though i guess to be honest there are only x blocks per day so to some degree there is a control measure as everyone can't get a block but passive stakers at least try to order the rewards so all get it.

Your competitive are the likes of hyperstake, tek etc.... people often have to play with block sizes to try and get the best rewards etc. I prefer stake and forget coins where i don't have to be big on block sizes.

The 2 passives i know of are blackcoin and netcoin though maybe others can chime in. Blackcoin i believe made POS v3.0 and you need to be online and staking to max your reward. Netcoin goes to give a reward every 6 hours so 4 stakes per day.

https://bitcointalk.org/index.php?topic=745323.0 is the netcoin topic. The PIR (personal investment rate) changes based on coin amounts. ATM its 45% i think if you have 10 million in 1 block per year (rewards given every 6 hours) though the rate is proportional for amounts between 0 and 10 million percent wise. I believe come around december this year it hits year 3 and goes to 10% max.

Blackcoin i don't have any of at present but i've read its POS v3.0 and many coins do fork from it.

Im not a fan of competitive stake coins as they usually are geared towards more technical people to adjust block sizes etc for max rewards. POS should be like bank interest... it just comes in and shouldn't be something you have to fine tune and compete with others to be better.

Is this a hardfork as the pir rewards are changing? When is the scheduled date to cut over and have exchanges been notified? The post says mandatory but i don't see mention of hard fork at block x anywhere.

lots of proof of stake coins. what is your criteria?

passive or competitive staking?
low, medium or high interest rate?

they all seem to go through pump and dumps

supply more info and people can list coins

i want nauterelle to come back and tell us we're all gay... err or is that carlos. God i miss those retards haha.

So just to be clear if mordica was linked to ion you would abort completely and renounce any ion investment due to the dodginess? How have you evaluated your position when its been shown that allen shinners and adam matlack have had past and "may" have current dealings with mordica?

Can you explain please why matlacks ability under xpy isn't indicative of his ability under ion? Do you believe he didn't try under xpy or? and why?

Also if mordica was involved in ion can you explain why under xpy he did dodgy things and why he isn't likely under ion.

Can you please explain why you don't need to know why there is no transparency of $300k in USD as an investor? I would think its a very big concern and raised capital should be something any investor would question the use of though and no attack but i'll be frank a comment of not needing to know is rather foolish when you invest.

I agree on this. My big issue with mordica is that he did photos with garza against miners that didn't exist. He in a video said i'll spray on cement and prove it.... he knew the entire time that the mining equipment didn't exist. What possible reason could he have to lie its not like garza had his family hostage. My opinion on it is that mordica and garza both got greedy and kept the lie going as mordica wanted the $$$$ based on this alone i wouldn't trust mordica anywhere nor anyone associated with him because it means they overlooked this.

It'd be like trusting anyone hiring that fuck horus from cryptsy after he carried on with his shit being their security guy... kinda embarrassing.

Honestly though i agree yes xpy doesn't have anything to do with ion from the project point of view but don't you think progress made on xpy projects is indicitive of matlacks ability for any crypto project? A coat of paint or a new name doesn't make his ability any different and this is what i think people are saying. Whether its ion, xpy, <insert new coin name here> matlacks ability is still his ability. His progress on projects in the past is however an indication on his current project.

Thats the concern. The difference here is he now has $300k or so but there is no mention of how thats being used. The cash doesn't seem to have a direction only those ion as bounties. The warchest to quote garza should be used to make the project advance... money makes money. $300k can become a lot more if he were to use it and their reluctance to use said funds to me says they don't want that project advanced. In IT time is valuable and waiting for the when its done is often a detriment for progress as time moves fast.

I request you ask team ion direct where the funds are going the USD and why they haven't actually a plan for it thats public knowledge. Its a pretty big concern in my opinion.

Wasn't there issues with the singapore business registration from official pages on the business time registration?(ie them saying they were registered when they werent and they did it later?) Its also a red flag that they are considering regulations zones before actual implementation. Does this mean that what they intend to do is illegal or not warranted in their country of origin that they have to seek outside registration to complete their goal? To me it seems a way to side step and cover their arse.

Ionomy never explained why they incorporated in singapore over other sites. One has to question why they did that when plenty of successful cryptocurrency operations run on home soil.

Didn't he think homero could buy a bank or something back in the xpy days for investment.. on the ignorance of that alone i'd say a shit load... he had one of those credit cards with no limit and gave it to homero to use so i'd say money isn't a concern for him... credibility is more so.

Needless to say i don't think he's too loving of homero anymore and his wife probably is asking questions on why he doesn't work for cantor anymore.

He pretty much changes his tune where it suits him. He's vocal to encourage more to do what he wants to suit his business plan i.e. selling. I'd like to hear his response since that is what he typed... did he not say that? Its there in an archive capture.

Also note there was a very real grey area on masternodes for dash being unregistered securities. Apple want nothing to do with dash due to that and the anonymous attempt for the transfers and its a coin that can't be used in the app store apps.

Seeing as ion is based on dash with masternodes it follows suite. Also realise that the public masternodes are shares yes they are referred to as get your masternode share, that does a return on investing amount.

Just because there is no involvement with sec etc now doesn't mean that in the future its not the case. Remember that xpy users said the same thing... its not a scam, hashlets exist... hashlets aren't securities... no sec action so its sec approved (looking at you mr coins). Also note that your continued voice using terms like investment, shares etc sharky will have you as someone in the firing line later. Im going to go on a limb and say no matter what your internet research dictates neither your nor my word are definitive in the eyes of the law and with yourself encouraging others so publically and openly with the terms you use you do implicate yourself a lot. You aren't very cautious and arrogance in that regard does get one in trouble at times with internet archives etc.

I do know that what suchmoon etc say to be correct. Where a company is incorporated does NOT prevent law from catching up to them. If you offer services to citizens of a country then you come under their law jurisdictions... sure if you yourself live in the singapore or phillipines or anywhere else it might be a strech for them to extradite you but it doesn't make the actual company runners any less culpable. So matlack and his friends in usa living aren't protected just because they made their company in the phillipines and have some rent a director on the form name.

I will make a follow up post on ionomy and their ico investments though. I find it appauling and very dodgy that they solicited funds from people in the form of btc which was turned to cash and provide bounties in ion.

Doesn't anyone find it strange and concerning that they premined their ion for bounties but there is no direction for the btc or cash they turned that btc into. Shouldn't the purpose of the raised funds be to use said raised funds in that form to pay people?

Nobody is asking this question and they rightly should.

Ionomy didn't use that btc or cash to buy market ions to use in the bounty so they have in fact double dipped yet again. The intent of usual premines is to pay bounties and encourage coin use. But if you solict funding in another form there is no need for this....

Its yet another red flag and im sure most will dismiss it with some excuse. The smart ion involved will ask this of the team. Wildshark would do well to ask these questions and report answers. Unfortunately for everyone i suspect he won't and its really indicitive of people's desire to try and make the project legitimate when they don't raise real valid rational concerns.

My thoughts are adam matlack and his close few are using the case to cover their loses and justifying it as their time helping others. In the end they will try sleeping well at night saying they released a single crappy game and an api that most programmers worth their salt could develop in a month with normal work.

Just remember though $300k usd gets your a lot more than what they are going to provide. Its just wool over your eyes. Ask for transparency on the actual cash and watch them avoid or run around it.

I followed up with 2 posts. The game isn't "banned" in india. There is no formal government ban. Its basically just a court case some people are putting through at the moment. There is no official its banned statement that i can find. I was responding to your comments stating it was officially banned when it is not.

no the game hasnt been teleased in india. its geoaware inthe app store for what countries can download. australia had it before usa. those with it got the files through jailbreaking or geolocation spoofing. that link mentions people against imminent ban. i see no official india ban.

personally id send it to wikileaks. its of national importence. boki seems a little upset with his recent ban which is good for us as all those days of built up rage will give us one hell of an incoherent offtopic post when he comes back

didnt prince change his legal name to a symbol? which you basically cant pronounce. you could be prince'ss or the btctalk author formerly know as suchmoon

Supergiant is a poor example as from what i can see they didn't solicit funds from the public to make a game. When you self fund you have that option. Any investors always have updates and transparent information. Do you think big companies would invest without info and accept being told give us money but go away if you don't like no news?

The difference here is ionomy took customer funds and said at the start they were being transparent. As of now their definition of transparency matches garzas definition of escrow when he did it himself.

Honestly though you all said the same about paycoin and garza. Its about the vision we don't understand. Why would garza come here to answer questions if he's just shot down.

Serious few questions i'd appreciate you to answer.
1 - How long is too long for ion team to implement their vision? Much like cryptsy etc how long is too long before people should be suspicious of it going anywhere? Answer properly please. Soon or when its done isn't a good answer. Myself? If i invested i would have a reasonable expectation that my ico money would develop the product as i spent in good faith that it was happening. I'd likely expect 3-5 months max for the game etc to be released being such a simple game etc. I'd be weary after that.

2 - Don't you think both sides deserve to have questions answered? All questions in the world aren't asked from an angle where someone can answer and everyone cheers. Team ion did come out saying we aren't xpy we are transparent etc but wouldn't you agree its been anything but for the funds? If not are you able to identify posts or comments from huey that are showing how much of the ico is left and where and who it has been spent on? Investors expected it to be used as was stated. UP until now i see no mention anywhere of dev bounties etc being actually used. $300k isn't a small some of money and something could of been purchased with it now product wise.

Overall it doesn't matter how much bad troll press you think ion is getting it won't affect the project if its legit. Also them coming and answering if its fact based and they can show transparency and prove their actions no bad comments can actually affect it. Microsoft, apple, valve many companies have haters but their products shine and they get bad press. If ion has that weak of a spine and can't actually address questions and criticisms then i honestly think they have poor business practices and sense. I would not be confident they can compete if this is the case.

Sitting in the shadows is only for people with something to hide (this applies when money is involved).