How important are Bounty Managers and what are they functions for an ICO?

HAHAH!! Nice!

Hello everyone;

Looking to get the general consensus here on an issue I am debating with a friend.  So as to not skew the results I will not disclose which side of the aisle I am on.  The poll will run for 30 days.  Answers will be able to be viewed at the end of the poll.  

Welcome your thoughts if you have any beyond answering the poll! Thank you very much!

If you are willing to take payment in Energy Drinks and Tokens I have an opportunity for you my friend!!

You have a point and that is a great analogy.  BUT...What if they were not supporting the currencies for the trading on their exchange, but did indeed hold onto a wallet for each account and accept the incoming forked currencies. 

That would be illegal.  Simply saying you won't support the coins on the exchange, but taking the coins due to the owners would be a huge issue. 

So it would require someone blowing a whistle or some sort of audit to discover such activity. 

There is a lot of money at stake and I refuse to believe exchange owners are just letting that go into oblivion. That is not the way financially savy people work.  More likely they are holding the coins, trading on them, and will give them to the owners when they have lost the value they started with.  But hey, I could just be drinking the conspiracy cool aid for too long to believe in people doing the right thing when it comes to vast sums of money at stake.

I think these are the good steps being taken in order to secure investor, We must take this as positive and I think there is no  harm if we provide docs like passport, identity cards for verification.
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I agree.  If you really want to be assured you are not being scammed, this is what the landscape will look like for ICO very soon.  Likely to be more requirements and identifications not just a passport. 

In my opinion, this is what you want.  The ability to steal your identity requires more than just your passport information or driver license information.  Is this is a start? Yes.  But no financial institution or credit company will take just the photo of you passport and extend you a line of credit.  You have to provide much more than only this. 

What you want to do is look for an ICO with a strong security advisor in place.  Someone who has experience in Government Security or Tech/Network Security.  Anyone with security experience will tell you (even if they do not have a strong TECH Security Background) that segregation and compartmentalization is essential to protecting information.  Especially coupled with encryption.  So find the ICO that takes this stuff seriously and your personal information should be well protected. 

This sounds like something that could retro-actively bite a lot of exchanges in the ass if they did not have a written policy in effect at the time of forking.  It is a great question and at the onset of the BTC forking it is one of the things that I didn't like about my exchange. 

In all due fairness, they should retroactively reimburse forked coins if they did not have a policy whereby the user agreed to forego forked coins.

Why?  Because it is the right thing to do.  Whilst they were holding your coins they were making money off of them.  I promise you your held coins were being micro-traded by their exchange against other markets.  Additionally, they can most certainly AFFORD to do so even if they do not wish to offer trading the coin that was forked resulting in new coins for you. 

However, in the initial onset of this enterprise, it is unlikely we will ever see those coins without an organised and very LARGE movement against the exchanges for the forked coins.   Ultimately what will drive their decision will be end-user pressure to do so. 

You do need to keep customers happy and keep them loyal.  Especially with DECENTRALISED exchanges stepping up with lower or not trading fees and better security etc. 

This is a thread I will gladly follow and hope maybe we get a resolution to it.  In 5 years all the people who DID NOT get their coins maybe very wealthy if we can organize a large enough body to go after each exchange for this.  In the end it pays for the exchanges to not be greedy I think. 

ICO is most definitely not BANNED in the USA.  KYC and AML are two mechanisms which are being integrated into ICO to ensure the integrity of the ICO and protect the investor.  ICO are moving toward being treated as Securities but this does not mean they are banned.  You must simply comply with the legislation under the SEC.

What you should know about an ICO asking for this level of identification is if they are in the USA and plan to advertise to Americans for fundraising.  This KYC and AML will most certainly be required in the near future and many ICO are agreeing to start without having to be mandated. 

If this is NOT an ICO in the USA advertising to Americans then you might just ask them if it is required since you are not American passport holder and they may allow you to invest without these requirements.

But I would guess it is just easier to ask from anyone investing in the ICO and not try to sort through each request.

Additionally you are going to see much more of this and should be prepared to adjust accordingly.

Who are the Key players in a successful ICO?

How much is their incentive?

Is the incentive (reward) all in tokens/coins or is there some direct payment of FIAT/CRYPTO?

HA! Lol well how is one supposed to do this if they are bootstrapping?  Suggestions?

This seems to make sense.  If the person or persons responsible for BTC wanted to remain anonymous, or if they were part of an organization which was virtually all windows based this would be a great reason to use windows.   What groups use predominately windows, and if they did not use windows, would be easy to spot? 

The power of anonymity is being in the herd.  The windows herd is VERY large and easier to disappear into. 

I think that would be a good thing! Depending on your scope and availability I would be interested to collaborate with you on this!

Missoula is too far! Meetups app would be good to use for this.  A twice monthly or monthly meeting would be a good thing. 

Having reviewed the different algorithms on this forum I came across two I like so far.  One has been discussed at length (Proof of Work) and so unless you are very well informed and opinionated there is probably no need to discuss that here.  But I welcome you to if you want. 

I would rather focus on dBFT which seems to be the Tri-Force power of algorithms if you will.  Does anyone have any glaring problems with this Algorithm?

I can't seem to find much in this forum about it aside from casual comments about how it is better than others or how NEO is the next big thing.  Beyond opinionated pieces what are the weaknesses of this Algo?? 

Thank you very much.  I have been reading non-stop.  So many smart people with such good answers.  The hardest part is deciding who is right between two highly-informed and well-spoken case makers. 


I appreciate that and will return the favor by not giving virtual swirlies and digital melvins.  LOL! Totally kidding.  I appreciate your assuaging my fears.  I never was a good jock anyway.


Yes, I bought it for a long-term investment and it seems now that it may be feasible for it to work as a payment.  So it may end up being both for me!

The cryptocurrency world is very complex and interesting with regard to short and long-term economic policy.  Many creators are finding out just what a headache it can be to create and maintain a currency.  Loyalty is scarce and the landscape changes daily.

One of the keys of success to a currency is maintaining value.  

In this regard, some have offered built-in features such as inflationary (token creation over time, lump creations) or deflationary measures (burns, shreds, etc).

Do you think this has an effect on the perceived value?  

How substantial is the effect on actual value? Can it be measured or predicted?

Is it a better idea to strive for stability?  If so how can that be accomplished?

We all know the current fiscal policy for fiat includes many tricks used to massage the economy.  Do we need to take that into account early on or can we wait until that bridge comes along until we cross it? Should currencies be fixed in their properties or should they be adjustable?

Finally, what do you think is a winning combination of features to ensure the economic longevity of a coin and why?

Having talked to people generally, I hear that inflation is good in a coin because it gets people to spend it now rather than to sit on it.  I hear that deflation is bad in a coin because people just want to sit on it until they can't and this creates stagnancy.  Not sure what that means relative to crypto but they believed it was bad to have stagnancy in a coin even if it increased the price. 

I wish I had half the skill you do answering questions...So poised and professional.

Remember you are never under water until you sell.  You do not lose or win until you realize.  

When dealing with a depressed asset you have to ask yourself (emotions aside) and answer objectively to the question:

"Do I see value in this asset?"

If you see a value, then others most likely also see the value.  If this is true then relax because markets go up and down.  All the time.  When it is rapid it is volatility.  When it is slow it is a trend. There are often volatile up and down trends.  There are also sideways trends which are usually moments building for a bull run or bear fall. Signals can help determine that. Right now you are seeing a down trend referred to as a Bear Market volatile price action.

This happens and you can guess at the reasons but the reasons only matter partly.  The science matters the most.  

Where is your asset in its growth curve?  Why is it valuable?  Why did you buy in the first place?

Sometimes the answers are cases like yours where most probably you wanted to get in on the action and did not want to miss the bus.  That is fine but this is how you pay for it.  Before you do anything the first step should always be to do what? Your research.  The thing about buses is that there is always another one so if you miss this you wont miss the next one right?

Now is the time to do your research because you probably did not do it if you bought at the high.  

Just know this...There are market makers out there who rely on people like you to do what you did and then sell your hand the minute the market starts crashing, declining, or even when it gets really frothy.  Why? It is human nature to want to minimize damage.  You fear losing money.  You are then in fight mode and you make bad decisions.  

If you came to the Crypto Arena hoping to make quick money without any research or experience then you are the fish.  You are the prey.  Now you must learn how to not be prey.  You must learn trading signals.  You must join crypto groups.  You must watch markets and understand patterns and volume and P&D and how to avoid being the sucker.  

That is why I say now you must learn.  Now you do research and learn what you did wrong.  In the meantime, I suggest you get a pad and paper and start making play trades every day.  Learn to watch charts and understand how the market works and play with fake money on trades.  This will help you learn patterns.  This will help you be more comfortable with the market.  

Fear and Panic are the two main components to shaking weak hands loose.  You don't know why the market is declining right now but I can promise you this is where the money is made.  Crypto is not going away.  BTC is not dying.  It is just building pressure and whales are buying low from all the weak hands they shook.  Don't be a weak hand.  

Nice to meet another person who knows of the Hawala system.  To me it is such an incredible phenomena having lived over in the Middle East and learning of Hawala.  It was totally alien to me thinking such a system could survive but the idea of violating the trust in the Hawala system was so alien to the people using it they looked at me like an idiot when I asked them how it could work. 

It is like WASTA over there also.  Another form of TRUST that has to do with the trust acquired with people in relationships.  If you need something done you will have to have WASTA or it is unlikely you will ever get anything done in the bureaucracy of the middle east when it comes to government shops and offices. 

Love the idea of incorporating some of that trust into a currency digitally.  The time for trust, but verify, is here!

BRAVO!! There are plenty of noobs out there who are trustworthy and want (and can with good help) build amazing things.  It is up to the experienced veteran players to moderate and mentor so as to filter the cream from the krum. 

THIS IS AWESOME! I Know Hawala! I lived in Kuwait for three years and learned all about this system of payment as well as what WASTA is! Haha.  In the middle east, knowing people, especially powerful people, and having a good relationship with them is itself a payment system.  You can do so much with WASTA.  IF you have none you will have a tough time. 

Also, the fork in the road issue is very interesting to me.  This community is full of people solving problems but then it seems as if once the money was being made everyone forked off in their own direction to grab the cash.  Correct me if you feel that is not the right way to think about it but it seems like all this forking really dissolved the credibility of the forked products and the core. 

In the end, the one that will succeed is the one that can fit the all the stakeholders' demands/requirements.  One of the biggest to concern oneself with is that of the governments of the world.  Governments exist for reasons beyond the comprehension of most people, not the least of which would be the necessity.  Every try managing a team of 5?  Most have not.  Now consider 500 million or 5 billion...There is a need for government as there is a need for currency.  I am excited to see how it all plays out.

Will the long-term fix come out ahead or will it be the short term fix!