If I was evil and a dev, I'd just go for the 5/7 rating and use a fake identity... over and over. They could always state they don't have a driver's license. All they would need is a throw away mobile phone and an address of 'someone' to get a postcard at.
To verify by postcard, we use the address on the drivers license. So in order to obtain the last 3 points, a Photo id or license is required. Okay, that's not too bad then. Basically means any dev with 4/7 or less is meaningless (might as well not even sign up for the program), while everyone else should be 7/7. Although of course fake IDs aren't exactly super impossible to come by either. Personally I think a code review would be more useful, but I guess that is also much more time intensive on your part. |
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Dev team on twitter: 1 vague post every other day.
Dev tem on btctalk: 1 vague post once a week or so..
Dev team on irc: never been able to reach devs on #apexcoin
Produced so far: POS+POW coin with premine.
Add this together and you get a sub $10k market cap with low trading volume and 0.17 btc total buy support (some of this sub 100sat).
The idea for the coin was/is great, but the dev team doesn't seem to live up to the expectations imo.
Sorry for everyones losses.
That is really the key issue, lack of dev trust. Still, at these prices it still seems bizarre to dump to me. We'll see if they release a fancy new wallet. I'd think so long as they release new coin features, the price would stabilize higher ... even if the features aren't that fantastic. People just like to see an active dev team. |
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To the attention of all those eager to make $ 60- $70 on their ORA stake.
The rumor is that the undistributed free stakes will most likely be distributed to current ORA holders!
And not to the one that dumped their stake at first chance for next to nothing!
Do not expect us to vote for anything else!
I didn't even check the exchange or my account yet, but they are going for like $60 right now? Yeah, way too low. It reminds me a little of comm or other giveaway coins ... people dump for like nothing, and a month later it's worth 10x or more. |
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If I was evil and a dev, I'd just go for the 5/7 rating and use a fake identity... over and over. They could always state they don't have a driver's license. All they would need is a throw away mobile phone and an address of 'someone' to get a postcard at.
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I think this is a great start and I applaud Coinsource for taking a step in the right direction. In my opinion, they should seek out some legal council before setting anything in stone. What if information is released and the developer get attacked, harmed or killed? I think there are a lot of serious questions that need to be looked at from all angeles.
Keep up the good work guys.
Even worse if a developer uses a fake identity, and some random guy/girl is harassed, harmed or killed. |
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So they could give you all their personal details (real or otherwise) then 'scam' and those details are still locked tight? If you give someone a 7/7 for example and they bail with everyones money what would the situation be then?
Curious about that too. I mean, great, a dev has been checked out and is shown to be using his real name + address + email. Dev then abandons a coin or runs an ico scam and bails ... then what? First off, even if he provided real info to you, and you shared it, how does that help anyone? What are they going to do? Form a mob and go after him, or start a lawsuit in what is probably some out of the way foreign country? And if you do share the personal info for said developer, wouldn't that basically destroy your own trust system, meaning no devs at all would ever sign up with you again? Edit: Just looked at those requirements a bit more closely. 4 pts out of 7 will probably be rather easy to fake. The postcard thing is also easy to fake, but may take a little more time for mailing and such. So basically if a dev prepares, he could use a fake identity pretty easily and still get a 5 out of 7 rating? |
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The dev can buy all of his coins for free, then make it rain shitcoins down on your heads forever. Even if he sells them to you at 0.00000001 sats it's profit. On the other hand if real rules were put into place, and the *dev* can't get his hands on the BTC until real milestones are met, you might have a different outcome. That's not going to happen at ScamTrix.
Newbies need to stay *very* far away from ScamTrix and it's organized frauds no matter what the coin. Please listen to the voice of reason and you won't get assraped.
Although a dev could do that, it normally wouldn't be in their best interest. They'll devalue their own ICO as people will see sells below ICO prices. They would be better off if people simply bought coins normally at ICO prices. Also keep in mind he'd need the BTC ahead of time to do large orders on his own ICO, as it's not like he gets the BTC immediately as people buy coins. But yeah, Bittrex should really lock all trading besides selling at ICO price. Ideally they should also limit single purchases and somehow try to limit devs buying too much of their own coin, but that could be a little tricky. |
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on escrow yea sort of similar to ntx asset exchange, with an easier seller client interaction.
but hey great suggestion.
Is that fully working now, or planned for the future? I played around with the site, but didn't look for any escrow features. |
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For those who have dumped, I do have to ask ... why would you at current prices? It's so low, as to be sort of meaningless. Personally I find it a bit odd how the coin was considered a decent price at 1000+, yet because TOR failed, it's dumped to where it is now. Were people counting on TOR that much? At 6 Mil or so coins, even if TOR was never planned, the coin would under normal circumstances be considered undervalued.
And don't take this as hype, nor a reason for anyone to buy in, but the low volume of the Bittrex order book not only shows low buy support, but low sell support too. Around 1-2 BTC would nearly quadruple the coin's price. For price manipulation theorists, it would be a pretty good setup. Again, just an observation, which could very well be incorrect.
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yea you could say that, then again i don't see them doing it, just like would dropbox ever be adding an online wallet or any crypto related features ?
i have seen a lot of coins come and go and i know most of us have, there is always that question what can i use this coin for? daily functions none what backs it up? i guess i just have to watch my coins stake, and wow yea that a great suggestion using the pos volume of each user to have them earn space on the cloud, we had in mind a re seller program based on the pos volume of the holder we each month we would give then a number of accounts for them to re sale based on their coin volume.
our payment system would work for those who want to sell their own material, using xcloud has a escrow to set terms with contracts the same for the xcloudmarket, xcloudpay, xcloudatm's and xcloud services.
we will be getting into details with the payment system on a white paper, we are currently working on a general white paper to release and after that a white paper for every important feature on the xcloudcoin.
I just used dropbox as an example, but nah... they won't be doing that. Nothing wrong with how you plan to use the coin, primarily for payments, as at least it's a use. It's just less of a use or incorporation than I expected, at least for the amount of ICO money being asked for. The xcloud escrow stuff does sound sort of interesting though. Is it basically the same as say the Ntx asset exchange type of thing? Is it fully functional or something planned down the road? |
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I'm repeating some questions I asked earlier and didn't get a reply to: Some general questions for the dev ...
Played around with the site a little bit, and it looks decent enough. But I have some questions (and apologies if they are dumb questions).
Is this similar to storj, where the blockchain is used for cloud storage? It looks more like a traditional cloud storage site, centralized, which you plan to fund via crypto. And if that is the case, what purpose does the coin serve exactly? Im sorry i didnt get to answer. is not similar to storj, we will be using the block chain for our small drive feature and seed tracker under 25mb, we are still under research on those two, correct at this point we have a centralized solution with features pointing at the crypto user and daily functions with privacy in hand, the purpose of the coin is to bring cloud and crypto together taking from both parts cloud features and decentralize wallet features, having the coin has a payment method would bring more people to adoption of it, just b/c they have daily functions with privacy. just a simple example, say you have a friend that is not too interested in crypto but hes into group sharing or video streaming or cloud privacy, maybe he wants to back some files or make a voip call (a premium feature we are working on), at some point the coin adoption will happen if your reward users with the coin (reward program for user referrals and usage of their account), has we are focusing on user experience and interactivity with customer care is our goal to bring the two together. Hmm... okay, appreciate the answers. I don't mean to sound harsh, but it does sound like a similar situation as to if we pretend dropbox (when it was in its infancy) just decided to add a crypto coin as a payment option, and offered rewards for referrals. Nothing inherently wrong with that, just that the coin isn't really part of the whole cloud thing, nor necessary exactly. It's more for your initial funding + payment/referral features (at least that is what I gather). I guess I expected a greater level of incorporation with crypto. More decentralization using the blockchain or something similar. Something that could be interesting and maybe a bit simpler for you to do, would be to use the coin as a form of POS, but instead of just coin earned, cloudspace could be earned, simply based on holdings? Such as owning a certain amount of XCloud gives the user a certain amount of file space (without the user needing to actually spend the coin)? Anything like that planned? Or is that what you mean by using the coin for payment? |
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These may be stupid questions and covered already, so bear with me ...
I believe people have stated there will be leftover coins that holders will vote on, as to what to do with them? If that is the case, and people sell their stakes, I assume they won't be able to vote, nor possibly receive a second round, if there is one?
Or have all the coins been distributed out, and none left to do anything with?
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I'm repeating some questions I asked earlier and didn't get a reply to: Some general questions for the dev ...
Played around with the site a little bit, and it looks decent enough. But I have some questions (and apologies if they are dumb questions).
Is this similar to storj, where the blockchain is used for cloud storage? It looks more like a traditional cloud storage site, centralized, which you plan to fund via crypto. And if that is the case, what purpose does the coin serve exactly? |
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This may be mentioned in the thread or 1st page and I missed it, but who is your coder? Is he part of your management team, and does he have experience coding other coins? Basically asking if you are using a coder for hire or if he's part of the coin team itself.
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Well We just caught the developer in a huge lie. S C A M
In case you weren't aware, the dev's identity I believe is listed on the 1st page of this announcement, under his linkedin profile. He stated this earlier in the thread too. Although this doesn't mean the dev proved his identity with any documents to Bittrex -- I don't believe he stated that they asked for it, just that they knew who he was. |
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The developer claimed one of the requirements was to verify his/her identity. You did not list this. Was this a lie?
This. Dev stated Bittrex got his identity. With these requirements Icebergcoin "dev" was able to rob people by 100 BTC. So Bittrex seems to continiue the way they did and help pulling out thousands of BTC every month from altcoin markets. When Your volume is less than 100 BTC You might realize You doing it wrong. Btw, dev here registered XCloudCoin.org anonymously. No real surprise, I know. Besides Iceberg, don't forget DCM. Over 120 BTC stolen by the devs, and I believe the coin is even delisted now. And I can't speak for other coins, as I didn't keep track, but when I say stolen, I mean literally stolen -- they packed up their bags, locked and closed the coin threads, and simply vanished. |
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The requirements are around delivery mainly. Here is what is sent to any potential ICO participants:
1) We will code review before initially adding the wallet.
2) Then you will transfer the premine IPO coins to us. if there are premined coins that are not part of the ICO, this must be disclosed in your ANN
3) We run the ICO at whatever price you are looking for but we'd recommend a reasonable market cap.
4) After the ICO period ends, if there are remaining coins, we will destroy them and provide you an address to post
5) We will hold your BTC in escrow for 3 days.
a) Transfer coins to verify that the block chain functions properly.
b) You must have a block explorer available.
6) If that all works, we will give you access to the ICO account and the BTC. If any of the conditions fail, we will use the ICO funds to buy back and destroy all of the coins and you will forfeit the escrow fee.
Thanks,
Richie
Have you considered somewhat more stricter requirements? Such as requiring a form of identification? Or holding funds until they are used for what the dev claims they will be used for? With strict bookkeeping. No giant lumpsum payouts. You must realize that your more recent ICOs have gone rather horribly, and that people aren't as interested in them as they used to be. Better rules, and holding ICOs less frequently, should help. You may also want to be pickier as to the coins you accept for ICOs too, just choosing the cream of the crop. |
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I'm still waiting for the devs to answer my questions earlier about how is the coin used exactly in relation to their cloud services. As of right now, it looks mostly just as a way to provide funding... not sure what the coin is used for.
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Lol, no they wouldn't. What are you talking about?
Also I believe Qiwoman plans on creating a pizza franchise with her new venture backed coin for Plankton. All I am saying it that outside of people who know what plankton as a crypto is, using it as a form of branding for pizza, or any food, may not go over so well outside of these circles. But again, if small scale, and just for crypto people, I guess they be okay with it. |
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Yes, we need a time for release, not just a post saying "It's live".
I expect some time for MaxMint people to do the transfer will be required too. It shouldn't be like all of a sudden trading is live, if it's just now MaxMint people are hearing about this. Actually no idea how they plan to make sure all MaxMint people even know about it... but to be fair, I'd think they'd probably at least give them a couple of days? Normally most devs would give people at least a week to decide if they want to swap the stake from escrow to a different exchange and do the entire token thing or not. |
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