Thanks for the detective work didi-man. So far I have nothing bad to say about Jordan Lindsey. But I am still not 100% convinced about the transparency aspect of this project.
The main concern for me is not who is behind BitConnect or Regal coin or Ethconnect. The real question is who is holding the private keys to the trading bot's address?
Why not create a smart contract on Ethereum where we can all see where the money for the ICO is going. I understand very clearly how all these platforms work and I can tell it is no rocket science. But I do believe in being 100% transparent and just having a decentralized exchange when you conduct your ICO is not enough.
Here are some of my suggestions:
- Use Ethereum smart contracts to hold the ICO funds so we can all see where they are going.
- Create a website on blockstack or running on Ethereum for the trading bot. This way the website can't be shut down.
- The person/people that puts the site up should be able to sign their public address on the site and also outside the site so we can see who is behind it.
- We should be able to confirm and see all the tokens we lend to the bot going to a wallet which should be controlled by a smart contract.
- I don't really care if the bot is trading with us (this is how I think bitconnect functions
https://www.youtube.com/watch?v=HviRDE_wPI0) and if it is we should be able to see it is fully automated. I am not asking to see the code of the bot. Because I believe if people see the code they will try to game the system and the system will stop working because no one will be actually lending to the bot. It's a catch 22 problem here.
- On the ICO, why not make it that the pre-sale coins go to a smart contract that automatically get loaned to the bot. The system needs a head start and the people that are getting the coins for cheapest should be the ones making the head start. That is the "price" they would have to pay for the system to work and for getting the cheapest coins.
- Let's all discuss how this system could work under this thread. Let's make it truly an open system.
I still have many more ideas, but I would like Jordan to participate in the conversation openly and here. I still believe the pre-sale is a bit too rushed. If you really need all that money to start the project Jordan, why don't we all just create a multi sig. bitconnect/bitcoin wallet and use that to fund the beginning of this project.
There is only one thing that really captivated me about this project, and this was this one phrase on the website:
"If you live in the Bay Area and are a highly capable, genuinely good, and friendly please apply for the open position below you are qualified for."
Call me naive, but I truly believe people are first and far most good by nature. I would be more than happily participate and help in this project. Not because I can get cheap coins and become rich (even though that is a nice incentive) But because I truly believe decentralization and blockchain technology are the only thing that can help humanity move away from the sad state of affairs we live in. And I will do anything in my power to make that happen.
Dear Bitcointalk community,
This is my project, I believe in it and I am here to make it work. I am delighted to participate in the conversation openly here and share in your help and ideas.
Let me clarify a couple of things to get going.
1. It is incredibly difficult to develop a profitable automated algorithm. I've done it. One hundred percent yearly returns is not going to make me wealthy. Using it to create constant demand for a token that appreciates with those returns can make me and a lot of other people wealthy.
2. I apologize that those within the USA cannot be included in the crowdsale. I am not hiding behind anonymity because I think those doing that are going to hurt the industry in the long run. My intention was to create this under my California corporation and since have had to incorporate overseas and make sure to not operate within the USA which means excluding U.S. citizens, residents and entities. The SEC has no reach or jurisdiction this way. As a US citizen am required like all others citizens to pay tax on all income earned.
So we are clear steps have been taken to protect the project and make this a non-issue.
3. Everyone is a critic and believes they have better ideas from a far. Please I am open, offer your input and advice in a helpful way that can help make this project a success.
This is my project and my thread and I am here to discuss this openly.
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