Not to mention we know nothing of these people and how much they have contributed or will contribute to the project. If you tried to sell a Series A to a VC firm and mentioned that 1/3 of the funds raised would go to paying off not only the founders but also all of the employees so they could all be millionaires, I don't think it would go well.
I gather you would need an adoption of Groupon scale to pull off such trick, and unfortunately Ethereum is nowhere there. |
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+1
They need to have a small pre-mine for funding, then let the market decide the merchantability of the platform. This aligns their interests with ours. I want the developers to be hungry to succeed for the long haul.
The way the launch is structured, crafted by ex-GS banksters, should alert everyone that we are reaching peak greed and are being played for fools vis a vis the Nasdaq in 1999. Don't be a desperate investor here. You are not gaining any insider advantage by investing at this time. I am certain there will opportunities after launch to put money to work more efficiently than at IPO time.
I must say I'm starting to lean towards this opinion. While the potential of Turing compete blockchain is enormous, the purposed IPO is a direct contrast to how other 2nd gen cryptos have launched: - MasterCoin - JR put 1500 of his own BTC (granted it was into his own address, but he donated them in exchange for MSC, which could be worthless for all we know)
- Nxt - despite the suddenly cut IPO and questionable inflation following, the founder both donated himself and asked for a small and reasonable sum to start with
- XCP - the devs went as far as being the first to burn their own BTC (without any promise someone will follow), and never tried to actually raise funds directly, besides donations address
I don't really know how eMu conducted to this point in time, but it's pretty obvious they haven't requested ton of funding upfront, otherwise it would be hailed across all topics as yet another proof of their "scammy" nature. Hope the devs come with an improved proposal for their both and the community, before the launch.[/list][/list] |
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Off-topic, but I find it funny how every time that eMunie is mentioned in any topic, the Nxt "knights" immediately jump in to bash it. I still trying to figure out if it's because you have 100% facts that it's a scam to relieve all of us from our precious coins, or it just because it supposed to provide all 2nd gen capabilities from day one on a mature and well tested platform, which Nxt only plans to add sometime in future, and may well crash Nxt valuation back to December levels?  Also, didn't we all agreed couple of pages ago to focus on Ethereum in this thread? |
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Anyone want to bet 10 XCP on the Super Bowl? I'll take the Seahawks to win at even money and set up/manage a feed if someone wants to test out the bet feature.
I'm game (though not from US, nor really get how the American Football works, except that bunch of dudes have to slam one into another, until someone manages to score a ball ), as this can serve as a good promotion for XCP. |
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Interesting concepts, watching.
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I think I read somewhere that NXT actually showed working codes before IPO. If that's true, it's not fair to compare LevelCoin to NXT since LevelCoin hasn't showed anything... yet. I'm going to wait for KickStarter. Risk is too high without any proof from the dev.
NXT had working downloadable P2P client before fundraising was over. If LevelCoin would post his binaries, I'm sure it would greatly boost the investors confidence and expand the fundraiser base quickly. |
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You have been repeatedly told that 30,000 BTC does not translate to 36 million dollars on current BTC prices but you ignore them and stick to your version. You just want to scare people away. You have repeatedly been told that 30,000 represents a hard cap and it remains to be seen how much our community actually invests but again you only acknowledge what is convenient for you. For the record what is the largest IPO in BTC terms that has been raised for alt-coins. I know XCP has PoB'ed 1600+ BTC. Anything higher than that? ETH might not attract an investment in 5 digits so I really do not understand the fuss.
Just to be correct here, these moneys have not actually went to any specific party but rather were exchanged for another one - so I'm not sure how SEC/etc. rules apply here. |
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Can we keep on topic please?
Sure, I just personally find it funny how so many NXT holders keep attacking any potential competition, by making example of their own "ideal" IPO every time. |
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There was NO valuation prior to the Genesis Block.
Once the NXT's distributed, they were immediately traded on 1BTC / 1M rates, with a x47 multiplier for these who invested 1 BTC, that just kept pushing the price further within a very short amount of time, without any actual innovative features provided by Nxt. Here at least we have a predictable ROI for everyone. How can there be a multiplier if there was NO prior valuation? 0.000001 NXT/BTC was the first market rate. When NXT was first offered for sale at a price for .000001 BTC, the cost of goods sold was 0.000000021 BTC/NXT. This is a 4762% markup over the original purchase price. The fact that no price per NXT was announced during the pre-sale has no bearing on what the original cost was of what was being resold. +1, exactly what I was about to say. This valuation jump (caused by artificial shortage, created by the abrupt fundraiser ending) is exactly what caused every investor and his dog to be in panic they are missing "the next BTC" train, and subsequently driven the the valuations to where we see them at this point, without any actual tangible proof of value up to this very moment, and without any clear indication how it will hold once Ethereum or any other competing platform enters the market. |
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There was NO valuation prior to the Genesis Block.
Once the NXT's distributed, they were immediately traded on 1BTC / 1M rates, with a x47 multiplier for these who invested 1 BTC, that just kept pushing the price further within a very short amount of time, without any actual innovative features provided by Nxt. Here at least we have a predictable ROI for everyone. |
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Bcnext asked for 21 btc for the lot and he got the 21 btc and consequently closed the IPO. if he had carried on selling nxt coins even past the 21 btc goal he would have screwed the ones who had invested thinking the 21 btc would buy the whole pie. for example if someone had invested 1btc thinking he would get around 450k of nxt....selling nxt even past 21 btc it would have screwed that investor as his share would be much less than what he had agreed into.
Care to show where exactly BCNext asked for 21 BTC? From what I see, the fundraiser was abruptly and unexpectedly cut in the middle, with interested investors left overboard, having to buy in later on much higher valuation (which contributed to explosive speculative growth). After this case, I much support and prefer any public project with clear and well communicated deadlines. |
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Thanks, any idea when the do_dividend function will be implemented? |
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Pay no attention to this financial troll. Matt Y has uncovered his motive and exposed this troll for what he is. He's most likely an embedded agent working against you, the people, for his own gain! The year is 2016, gutshot5820 is revealed as the biggest investor in the under funded, yet wildly successful, Ethereum currency. The cryptocurrency community collectively facepalms around the world.
For this to happen, he will need to be ready to shell up to 10K-15K BTC, not for the faint of heart. |
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Yes, The project is totally depended on the developers and community,not on donation. The NXT only received 21BTC. But it has achieved a huge success.
NXT achieved a success (? still to be seen) thanks to a very limited initial distribution that created a shortage, which caused all the early investors and these who bought it initially, to repeatedly promote NXT to anyone possible, which seen the valuations jumping in progressive fashion. The case will be different here as anyone who wanted has bought it, and the most possible route I see, is gradual acceptance of the technology by the financial and crypto world. This will in turn create a real and long-lasting value of the XCP technology. |
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@Level Coin:
Any news about code review/proof? Milestones/Development sheet?
+1, still on fence here with some people... |
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It is important to make a strict distinction between the developers of Counterparty, and the Counterparty protocol itself. Burning BTC is only secondarily a demonstration of trust in the developers, it is primarily a demonstration of confidence in the protocol, whereas, by sending BTC and XCP to the Counterparty donation address, the community is trusting the Counterparty team to deal honestly and competently with funds meant for bounties. Faith in the protocol does not necessarily imply faith in the developers, and it is unreasonable to force those who want to invest in the former to donate to the latter. In the long run the protocol and the current developers aren't tied together.
In our view, the short term benefits gained by more donations are outweighed by the medium- to long-term benefits of sticking with proof-of-burn. Counterparty's long-term success depends on it being maximally trustless and decentralized throughout the entire initialization-of-balances period.
The value of the Bitcoins burned is the price paid for a fair launch.
+1 - awesome post. It's so refreshing to finally find people who launch a new project for the sake of advancing the crypto community, and not for getting rich fast (NXT, I'm looking at you! ). |
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Sounds to me as another trolling . |
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In a way it's as if Ethereum is just saying, "If you can't understand our premine distribution scheme, don't invest because, to you, it's now more expensive. Except it's not."
Is it possible to calculate any potential ROI with such model? |
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A practical question that I have:
Say we have an investor, who we want to allocate shares using XCP asset mechanism, how we actually reflect the real value he invested into us in XCP asset?
For example he placed X BTC for Y shares issued, which set the post-money valuation of the asset to = X BTC * Z shares we have now / Y shares issued.
How do we reflect that this was real - perhaps by receiving the funds at same BTC address, which was used for asset creation?
Speaking off, is there a way to change asset details after it was generated (i.e. amount of shares, divisibility, etc...)?
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