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The chart labeled "Percentile XTZ", specific to the top 5% of contributions, is not quantitative... It says, right above the chart, "The fifth percentile (5%) indicates the smallest contribution in the top 5% of contributions". This means the smallest contributor in the top 5% of contributions will receive 44,035 XTZ. With this information alone, it is impossible to determine how much money the top 5% of contributors invested.
The web page also reveals that, "The average contribution will yield a recommended allocation of 20,035. The median contribution is smaller at 2,331". If you know anything about statistics, the further away the average is from the mean (median), the greater the presence of outliers (this is the equivalent of a whale). This is especially true when the data set contains a large number of records or entries.
This is all meaningless info because the same investor can donate from different sources. Why would they do that? to make it look like one buyer doesn't hold 10%+ of a coin would be one reason. Very little of what we see in crypto is actually what is going on. I think you missed the point.
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The chart labeled "Percentile XTZ", specific to the top 5% of contributions, is not quantitative... It says, right above the chart, "The fifth percentile (5%) indicates the smallest contribution in the top 5% of contributions". This means the smallest contributor in the top 5% of contributions will receive 44,035 XTZ. With this information alone, it is impossible to determine how much money the top 5% of contributors invested.
The web page also reveals that, "The average contribution will yield a recommended allocation of 20,035. The median contribution is smaller at 2,331". Using applied statistics... the further away the average is from the mean (median), the greater the presence of outliers (this is the equivalent of a whale). This is especially true when the data set contains a large number of records or entries.
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I'm confused... if someone did think this, they likely did not invest. How is it you will have their money?
It's more of a generality. Not to be taken so literally. Those with bad investment strategies will eventually give their money to those with good investment strategies. Patience is one of the keys to this that a great deal of newcomers lack. They're in a hurry to make 10% while others patiently wait to make 1000% or higher. I understand the zero sum nature of market based investing... I've been a trader for twenty eight years. I'm trying to understand if you are implying that you think XTZ will dump - or not. Your post is confusing.
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LOL,
This pre-release discussion is going very similarly to the ETH, LSK and Antshare's discussions. Each of which made me a great deal of money because I just sit back and wait.
Those of you who think that people invested $232 Million just to dump as soon as it's on an exchange have no idea what you are doing and I will have your money soon.
I'm confused... if someone did think this, they likely did not invest. How is it you will have their money?
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Assuming a BTC price of $2500, and assuming participation in the ICO during the 20% bonus phase - the cost per XTZ would be $.417. So if the price of the "IOU" XTZ/USD dips below 42 cents, one can effectively buy below the ICO price.
A few question(s): 1.) Does anyone here have any experience with HitBTC... do they indeed pay back their IOU's? even if at a later date, when the coins are distributed, they would need to pay more? 2.) I'm assuming there's no place to store the "IOU" XTZ, as it doesn't technically exist? 3.) Again, assuming No.2 above, is there any risk to getting hacked? (If so, please explain).
Thank you
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Pardon me if this question seems ignorant, but I've never participated in an ICO before:
When money is sent from my wallet to the address specified by Tezos for the "Contribution", how is the contribution documented? Is there a registration process that will ensue with the Tezos Foundation?
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Here's the problem I have with this... They claim a 350% return in 300 hours (100% of principle investment returned +plus+ 250%)... Let's do some math:
Starting with $100 and rolling the profits back in, here's what happens: 100 = 350 @300 hours 350 = 1,225 @600 hours 1,225 = 4,288 @900 hours 4,288 = 15,006 @1200 hours 15,006 = 52,522 @1500 hours 52,522 = 183,827 @1800 hours 183,817 =643,393 @2100 hours 643,393 = 2,251,875 @2400 hours 2,251,875 = 7,881,564 @2700 hours 7,881,564 = 27,585,474 @3000 hours 27,585,474 = 96,549,157 @3300 hours 96,549,157 = 337,922,050 @3600 hours 337,922,050 = 1,182,727,178 @3900 hours (yes!, you've turned $100 into more than $1 Billion in 163 days) 1,182,727,178 = 4,139,545,122 @4200 hours 4,139,545,122 = 14,488,407,928 @4500 hours 14,488,407,928 = 50,709,427,748 @4800 hours 50,709,427,748 = 177,482,997,712 @ 5100 hours
Congratulations... In only 213 days, you were able to turn $100 into $177.5 BILLION... You now have more than twice the wealth of the worlds richest man (Bill Gates w/ $75B in 2016).
This is why NO ONE, who could actually make these returns would start a website and solicit money to trade for others.
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New Bill Would Require Declaration of Digital Currency Holdings when Entering U.S.
So then it would seem... if/when a crypto currency begins trading with USD, this constitutes a positive growth step? I would think you might even say it more "legitimizes" the currency?
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I'm curious... wouldn't it be better to tie the NOTE to $USD (at PLNX it would be the $USDT)? Given the underlying goal of creating a stable currency, wouldn't that be a priority? If so, what's required to make that happen at the exchange level?
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The thing I've learned that concerns me the most, is that these ICO's can bust... my biggest questions: 1.) What is the likelihood of the XTZ coin never making it to the exchanges? 2.) What happens to the money invested if XTZ does not make it to the exchanges? 3.) Can anyone site examples of legitimate projects that went bust - and possibly explain why?
Thank you for any help you're willing to shell out.
Many Many Many projects go bust. Exchanges, mining companies, alt coins, chip manufactures, and ICOs. Just look at the DAO. The coin will most likely get created, and will most likely get on an exchange. The question is, will it be worth more or less than the ICO price (in comparison with BTC or USD?). When ETH did the ICO, same thing happened. Signing away your money for a year with the hopes and dreams that it will grow. After ETH was listed, it dropped in price but I dont believe it hit the ICO price. Things eventually worked out but even if you skipped ETH's ICO, you would still have made a killing from buying on exchanges later. Just split some coins of to the side if you have some extra and hodl. Come up with strategy and stick to it and you'll be fine. =) . [and never sell 100% of a coin cuz you never know!] Good luck! That's very helpful... thank you. A few questions if you don't mind: 1.) If you were to quantify it, how much risk - expressed as a percentage - is avoided by waiting for XTZ to hit the exchanges and buy it then, vs. investing in the ICO? 2.) My observation is that nearly all coins drop to about 50% of the price they opened on the exchange for within a very short period... would you agree? 3.) What would you guess is the likelihood that this happens with XTZ? Again, thank you for your earlier response
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I'm scrambling to get the USD ($200k) converted to bitcoin fast enough... it's not easy. Which brings me to another question... I see most coins open and then loose 50% of their value within a few months before stabilizing. How do we know what the opening price will be per Tezo on the exchange? For example, if I paid $3000 for BTC and one BTC does in fact buy 6000 Tezos, the opening price would need to be at least 50 cents, or I loose. Is there a way to estimate what the expectation is?
Wait, you don't already hold significant amounts of cryptocurrency but you're suddenly going to dump $200K into this ICO? For your sake I hope this isn't your life savings. But with this rise in the price of crypto I'm getting people asking me all the time how to invest and the first thing I tell them is that if they haven't already opened accounts at the exchanges and gone through verification that it's a long process to be verified to move more than a tiny bit of money. Nobody ever listens, and the exchanges are so overloaded half their verification features don't work right. 1.) I own about $80,000 worth of ETH that I've been slowly buying with my CoinBase account, while getting familiarized with the industry. 2.) The $200k is a little less than 10% of my "Speculative" Funds. I may reduce the allocation down to $100k, depending on what I've determined to be the inherent risk. My questions pertain to that assessment... I'm here to learn from other crypto investors with more experience than myself. 3.) I now know, it's very difficult to get any real money into the exchanges quickly. For this reason, I'll probably be using Bitcoin Suisse AG to buy into the ICO. The thing I've learned that concerns me the most, is that these ICO's can bust... my biggest questions: 1.) What is the likelihood of the XTZ coin never making it to the exchanges? 2.) What happens to the money invested if XTZ does not make it to the exchanges? 3.) Can anyone site examples of legitimate projects that went bust - and possibly explain why? Thank you for any help you're willing to shell out.
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I'm scrambling to get the USD ($200k) converted to bitcoin fast enough... it's not easy. Which brings me to another question... I see most coins open and then loose 50% of their value within a few months before stabilizing. How do we know what the opening price will be per Tezo on the exchange? For example, if I paid $3000 for BTC and one BTC does in fact buy 6000 Tezos, the opening price would need to be at least 50 cents, or I loose. Is there a way to estimate what the expectation is?
Wait, you don't already hold significant amounts of cryptocurrency but you're suddenly going to dump $200K into this ICO? For your sake I hope this isn't your life savings. But with this rise in the price of crypto I'm getting people asking me all the time how to invest and the first thing I tell them is that if they haven't already opened accounts at the exchanges and gone through verification that it's a long process to be verified to move more than a tiny bit of money. Nobody ever listens, and the exchanges are so overloaded half their verification features don't work right. I don't take these people seriously, they are probably just promoters, not serious new tech seekers or investors. I'm asking for help. It's cool if you don't want to answer my questions, but at the same time you know nothing about me. Probably better to say nothing at all.
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I'm scrambling to get the USD ($200k) converted to bitcoin fast enough... it's not easy. Which brings me to another question... I see most coins open and then loose 50% of their value within a few months before stabilizing. How do we know what the opening price will be per Tezo on the exchange? For example, if I paid $3000 for BTC and one BTC does in fact buy 6000 Tezos, the opening price would need to be at least 50 cents, or I loose. Is there a way to estimate what the expectation is?
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Hello everyone...
I recently contacted Tezos with the following question: " Will I be able to participate in the ICO by purchasing Tezos with $USD, vs Bitcoin or Ethereum? "
Their response: " First I must inform you it isn't an ICO or a purchase. It's a donation in a fundraiser for a Swiss foundation. The foundation will recommend an allotment of tokens for participants... The Tezos Foundation will accept BTC and ETH through a special website which will open only when the fundraiser opens. Sign up for our mailing list here for updates. Alts will be accepted at the same website via ShapeShift. Contributions in fiat currencies are also possible through Bitcoin Suisse AG, though be advised to check their rates and the legal permissibility of that course of action within your jurisdiction. If you choose to contribute in ETH, the equivalent BTC amount will be estimated based upon the timestamp of the Ethereum block in which the transaction is included and the median of the the last trade price on Poloniex, Kraken, and GDAX. This is offered for the convenience of ETH holders and on a best-effort basis. If you want certainty contribute with BTC, otherwise you accept the risk that the exchange rate you'll get may not be exactly what you see on the screen at the moment of your contribution. "
So I'm rather new to this, but I've had great success in the stock market and want to diversify by purchasing some BTC, ETH, and of course Tezos. The Tezo's team response is confusing to me... They're basically soliciting for donations to a foundation, which will determine an allotment of tokens for participants. In other words, we have no idea how much we're paying for the Tezos until AFTER we've "donated" money to the foundation?
Is my interpretation of their response correct?
Thank you -
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