Trestor Foundation - Tech Draft / Q & A

[polynesia]

@polynesia can you please change the name from escrow.ms to stv to avoid confusion as he was the one who wrote that post.

Thanks

Oops! Corrected it. 

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[trestorfoundation]

Polynesia, Great questions.

First question: Creating an optimal strategy for token distribution was challenging.

Both, Ripple and Stellar gave away tokens out to people and businesses (wallets, gateways/exchanges, early employees, adopters, partnering companies, charities, etc. ) which on the surface seemed like a good idea, it was suppose to create user engagement and a healthy ecosystem. The utility that they hoped quickly got evaporated, ecosystem never got the bootstrapping they hoped for and the token's value seems to be in a limbo.   

Trestor has learnt a lot from other projects, without getting into the details, here is our broad plan.

1. Trestor will not be giving out even one free Trest, to anyone, anytime. Every Trest needs to be earned or exchanged for an item of value

2. Trests assigned to Trestor team are capped at 10% of the total trests

3. Trest payouts to Trestor team members will be monthly, stretched over a 5 year period

As of right now, Trestor Foundation has 4 teams:

1. Protocol team
2. Application team
3. Business and Retail Partner team
4. Public Relations team

Each team will have a maximum of 15 members, each member gets a defined number of Trests every month, based on his previous month's performance.

Performance is determined by voting by all team members, every member participates in a blind voting where they chose the 2 best and the 2 worst performers (for the previous month) in their team.

Top 20% of the voted performers get twice the number of monthly trests, middle 60% get regular number and the bottom 20% get nothing at all. 

This process gets repeated every month thereby creating an environment of co-operative competition.

Second question: Disclosing the total number of Trests is very important to invigorate confidence, we understand our responsibility here and will definitely release the number details in our project whitepaper on or before 1st July 2015. 

Trestor Team
@trestorconnect
www.trestor.org

[buysellbitcoin]

Polynesia, Great questions.

First question: Creating an optimal strategy for token distribution was challenging.

Both, Ripple and Stellar gave away tokens out to people and businesses (wallets, gateways/exchanges, early employees, adopters, partnering companies, charities, etc. ) which on the surface seemed like a good idea, it was suppose to create user engagement and a healthy ecosystem. The utility that they hoped quickly got evaporated, ecosystem never got the bootstrapping they hoped for and the token's value seems to be in a limbo.   

Trestor has learnt a lot from other projects, without getting into the details, here is our broad plan.

1. Trestor will not be giving out even one free Trest, to anyone, anytime. Every Trest needs to be earned or exchanged for an item of value

2. Trests assigned to Trestor team are capped at 10% of the total trests

3. Trest payouts to Trestor team members will be monthly, stretched over a 5 year period

As of right now, Trestor Foundation has 4 teams:

1. Protocol team
2. Application team
3. Business and Retail Partner team
4. Public Relations team

Each team will have a maximum of 15 members, each member gets a defined number of Trests every month, based on his previous month's performance.

Performance is determined by voting by all team members, every member participates in a blind voting where they chose the 2 best and the 2 worst performers (for the previous month) in their team.

Top 20% of the voted performers get twice the number of monthly trests, middle 60% get regular number and the bottom 20% get nothing at all. 

This process gets repeated every month thereby creating an environment of co-operative competition.

Second question: Disclosing the total number of Trests is very important to invigorate confidence, we understand our responsibility here and will definitely release the number details in our project whitepaper on or before 1st July 2015. 

Trestor Team
@trestorconnect
www.trestor.org

Just curious,

So lets say first persons who will have trests will be from Trest team only who recieved thier trest as monthly compensation for their efforts. For anyone else to receive trests they will have to get it from trest team only or do some work for trest foundation so they can also get paid in trests.

Lets think it in broad perspective :
1) currency enters into system only from 60 people and/or 1 organisation. hmm
2) 100% premined or pregenrated and 10% goes to founders. Nothing wrong to me but its a big issue to lot of people.
3) So basically its just replacing current system with all the hoopla of cryptography. Reserve bank or federal bank lands/gives/sends money to banks or private entities ( middle tire ) and those entities release that money to people ( end user ) in terms of loans, credits at premium. If there is not enough competiotion in the economy it develops monopply and middle tire can decide on supply availability of currency tokens.

Is it really this model or I am confused.. I am sure you will have better answers and understanding.

There is nothing wrong in creating better version of FIAT system or prepaid vritual instruments. I think this forum is religious when it comes to the term decentraliztion, no trust. I might be wrong but I can not find trestor model decentraized.

Regards

[trestorfoundation]

Dear Bullsellbitcoin, Thank you for your wonderful questions.

Our cryptocurrency, "Trests" do not enter the system only via Trestor volunteers/employees.

In our reply to Polynesia, it may seemed that way because we were specifically referring to founder/volunteer/employee compensation and not the overall distribution of Trests into the open market.

Trests are pre-mined, they can be purchased by anyone via our website or by visiting any of our Retail Partner locations worldwide, very soon, anyone anywhere will be able to earn Trests by helping create "Public Goods" for their neighborhood, details on that will be out before 1st July 2015.     

Trestor Foundation:

1. Cannot create new additional Trests
2. Cannot control the price of Trests
3. Cannot stop/alter any transaction
4. Does not have access to anyone's Trestor account
5. Does not control Trestor Network after our source code is released

Trestor Foundation exists to help and grow Trestor Network and Trestor Protocol. We will be active market makers so that "Trests" can be bought and sold in large quantities, without affecting the price.

Once the source code is out, Trestor will be fully decentralized yet backed by a very potent and proactive Trestor Foundation. I hope this answers your excellent questions, we will be happy to answer any subsequent questions.

Trestor Team
@trestorconnect
www.trestor.org

[escrow.ms]

Dear Bullsellbitcoin, Thank you for your wonderful questions.

Our cryptocurrency, "Trests" do not enter the system only via Trestor volunteers/employees.

In our reply to Polynesia, it may seemed that way because we were specifically referring to founder/volunteer/employee compensation and not the overall distribution of Trests into the open market.

Trests are pre-mined, they can be purchased by anyone via our website or by visiting any of our Retail Partner locations worldwide, very soon, anyone anywhere will be able to earn Trests by helping create "Public Goods" for their neighborhood, details on that will be out before 1st July 2015.     

Trestor Foundation:

1. Cannot create new additional Trests
2. Cannot control the price of Trests
3. Cannot stop/alter any transaction
4. Does not have access to anyone's Trestor account
5. Does not control Trestor Network after our source code is released

Trestor Foundation exists to help and grow Trestor Network and Trestor Protocol. We will be active market makers so that "Trests" can be bought and sold in large quantities, without affecting the price.

Once the source code is out, Trestor will be fully decentralized yet backed by a very potent and proactive Trestor Foundation. I hope this answers your excellent questions, we will be happy to answer any subsequent questions.

Trestor Team
@trestorconnect
www.trestor.org

What's the benefit in reinventing the wheel?
Why should someone buy trest?
Why the heck you guys want to become market makers? monopoly much?

[trestorfoundation]

Thank you for your questions Mr. Pankaj Bhardwaj (Escrow.ms). We noticed that you have been serving bitcoin community for a long time now, really appreciate your ethical and prompt service.
 
What's the benefit in reinventing the wheel?
While Satoshi's aim was decentralisation, our aim is to use decentralisation to fix a long standing economic issue, it's called "free rider problem", please take a look at the last 3 pages of our tech draft. 

Why should someone buy trest?
It's a great risk adjusted return investment.

Why the heck you guys want to become market makers? monopoly much?
Market makers liquidate the market with buy/sell orders. It's healthy for all market participants.

Could clear some of our doubts:

Why did you refuse Kunal’s direct offer to explain Trestor over a call?
Why did you post hate reviews on Google play store?
Why did you remove your review?
Right after you removed your hate review, 2 new hate reviews from fake accounts were posted. Any Ideas why?


Kunal's offer: https://drive.google.com/a/luckysingh.com/file/d/0BzuzOKeV6qgxZF9JMU9nUjRRc3c/view?usp=sharing

Fake reviews: https://drive.google.com/a/luckysingh.com/file/d/0BzuzOKeV6qgxUjA1dnprUlB6emM/view?usp=sharing
 

Regards,

Trestor Team
@trestorconnect
www.trestor.org

[escrow.ms]

Oh Hi Mr. Kunal Dixit aka trestorfoundation.

What's the benefit in reinventing the wheel?
While Satoshi's aim was decentralisation, our aim is to use decentralisation to fix a long standing economic issue, it's called "free rider problem", please take a look at the last 3 pages of our tech draft.  

In economics, the free rider problem refers to a situation where some individuals in a population either consume more than their fair share of a common resource, or pay less than their fair share of the cost of a common resource.

Aren't you guys (Your staff/foundation is free rider?)

Why should someone buy trest?
It's a great risk adjusted return investment.

Can you please write this term on your main page of your website? because 99% of your retailers don't even know what it means, Thanks

Why the heck you guys want to become market makers? monopoly much?
Market makers liquidate the market with buy/sell orders. It's healthy for all market participants.

Why don't you simply say you want to get involved so you can manipulate prices easily and get away with people's hard earned money by taking their funds as "donation" through retailers aka mules.

Could clear some of our doubts:

Why did you refuse Kunal’s direct offer to explain Trestor over a call?
Why did you post hate reviews on Google play store?
Why did you remove your review?
Right after you removed your hate review, 2 new hate reviews from fake accounts were posted. Any Ideas why?


Kunal's offer: https://drive.google.com/a/luckysingh.com/file/d/0BzuzOKeV6qgxZF9JMU9nUjRRc3c/view?usp=sharing

Fake reviews: https://drive.google.com/a/luckysingh.com/file/d/0BzuzOKeV6qgxUjA1dnprUlB6emM/view?usp=sharing
 

Sure

1. What do you expect from me when someone wants to teach me something at 1:30 AM, He should have asked me same thing here also, instead of asking my number from others and sending me message in night and by the way It's my opinion and it's not gonna change.

2. Why did you posted positive reviews? I do have a right to post my opinion and I did it, If you have any problem please contact google.
3. I did not removed my review it's still there.
4. I've asked my friends to check it out and their opinion was same as mine, btw those reviews are not fake, they are 100% Legit as reviews posted by your team members and friends.


PS: Make it open source first, Release very single information, stop your donations/foundations drama, come back and then talk to me.

[trestorfoundation]

Dear Escrow.Ms,

We like good questions and constructive criticisms.

Your questions and criticisms are neither good nor constructive.

Maybe we can help you improve your questioning skills by asking you some basic questions about Coinsecure in another thread.

This is how you ask proper questions: https://bitcointalk.org/index.php?topic=1073695.msg11479103#msg11479103

Let this thread be for others with constructive questions like Buysellbitcoin, Polynesia, btc_enigma and BitCoin Dream.

Thank you for understanding,

Trestor Team
@trestorconnect
www.trestor.org

[escrow.ms]

Dear Escrow.Ms,

We like good questions and constructive criticisms.

Your questions and criticisms are neither good nor constructive.

Maybe we can help you improve your questioning skills by asking you some basic questions about Coinsecure in another thread.

This is how you ask proper questions: https://bitcointalk.org/index.php?topic=1073695.msg11479103#msg11479103

Let this thread be for others with constructive questions like Buysellbitcoin, Polynesia, btc_enigma and BitCoin Dream.

Thank you for understanding,

Trestor Team
@trestorconnect
www.trestor.org

Well, Now you are showing your true colors Mr. Kunal, that's the thing I wanted to see.
Also can't believe you can go so low, coinsecure has nothing to do with my personal opinion or messages.

[RFDZ]

Just to be clear I dont represent Unocoin, coinsecure, btx-india, localbitcoins, or any of the other altcoins.

I didn't want to get involved with altcoins but I had to intervene to warn others.

Trestor you cannot be trusted. You should change your name to UnTrustor.

Why?

You have been posting private and personal information on the forums which is very frowned upon, not only in Bitcoinland but everywhere.

You will say you posted only publicly available info.. Really? What about the email trails with Benson and the Whatsapp screenshots. How is that publicly available?

And not to mention some other docs that are not publicly available, so how did you get your hands on them?

When someone send you an email they expect the contents to be private, especially when the other party is a company doing "financial business". Did you take permission from Benson before posting his emails? If not this is a gross violation of trust, and no one will ever feel comfortable even sending you an email; being your customer is out of question. Who knows maybe tomorrow you will feel like pasting my transaction records, email conversations, KYC docs etc on the forums!!!!

Is that how you keep your employees in check ? By threatening to dox them?

This is very immature on your part and you have basically shot yourself on the foot (actually the jugular). Apologies won't help as the damage is done! You have no idea what Benson and Pankaj have done to advance bitcoin in India. How can someone be so stupid !!! ??!!!  Well good riddance in my opinion.

Nevermind, I dont want to waste a single more second of my life thinking about your altcoin.

[Benson Samuel]

You have been posting private and personal information on the forums which is very frowned upon, not only in Bitcoinland but everywhere.

You will say you posted only publicly available info.. Really? What about the email trails with Benson and the Whatsapp screenshots. How is that publicly available?

Good thing he did not post our entire Whatsapp Discussion... 

[trestorfoundation]

We will be happy to work with community members and Benson to resolve the thread.

It may be difficult for us to reply to baseless accusations but we will try.

Trestor Team
@trestorconnect
www.trestor.org

[trestorfoundation]

We will be happy to answer any other questions.

Thanks guys,

Trestor Team
www.trestor.org
@trestorconnect

[trestorfoundation]

How to get this thread marked resolved. Any suggestions?

Trestor Team
www.trestor.org
@trestorconnect

[Benson Samuel]

How to get this thread marked resolved. Any suggestions?

Trestor Team
www.trestor.org
@trestorconnect

https://bitcointalk.org/index.php?topic=1064423.msg11486901#msg11486901

Not been answered.

[Benson Samuel]

How to get this thread marked resolved. Any suggestions?

Trestor Team
www.trestor.org
@trestorconnect

https://bitcointalk.org/index.php?topic=1064423.msg11486901#msg11486901

Not been answered.

I have been interested in checking out this thread, and others in the Indian subforum, about Trestor because I have read about them on the news.
On one of the articles I found a link to BitcoinTalk, which brought me to the Indian subforum.

This is where I'm going to start my research.

First of all I have checked the whole Indian subforum and found 2 threads which have been marked as [UNRESOLVED] by the mod, Benson Samuel as clearly shown in big Red Letters on another thread.
Now I look a this thread first and I will post on the others in due course after I learn more about what is happening.

I have checked Trestor's website and dowloaded their App, read quite a bit about them in the news and my impression is not as bad as it is being depicted by some of the critics.
My first impression is that the main account trestorfoundation has been actively replying to questions and, to be honest, it has actually been attacked quite a bit.

The thing that buffles me is how on hearth a forum moderator with a hero status seems to be getting personal and running a campaign to discredit the project and its leader.
My understanding of the function of a forum mod is to make sure threads are posted in the right place, remove non related content to the topic or section in question, spammy content, etc.
I also thought that a forum mod would be someone who is objective in his/her judgement when commenting on a thread he/she deems needs moderation.

But I never thought that a forum mod should at any point get personal and run a smear campaign against a project unless the project has been proven to be at fault or a scam as it is being claimed.
What it looks to me, from someone who just read this thread for the first time is that one or two members here had some of their communications and/or personal info posted on another thread.
So I understand where the whole passionate debate comes from. Still I would expect the moderator to be fair, give the benefit of the doubt until there is 100% proof of scam, but mainly be objective while performing is role.

I have been on many forums reading around as I am interested in new projects that come out. I have never seen a moderator act like Benson, impulsively, and being personally attacking a project.
Now I don't mean to disrespect Benson here but I suggest to leave personal issues with forum members out of the conversation when acting as a moderator.
You are not representing BitcoinTalk in a very good way and are acting irrationally. I've been reading this forum for over two years and I never seen a mod act like this.

I suggest to step back a minute, breath in and calm down. Let Trestor answer their questions as I'm interested to hear their answers.
Sounds like Trestor is working to release some news soon. Let's wait and see, no need to keep trolling, because that's what it looks like to me.

PS: What is it exactly that Trestor hasn't answered here that this thread deserves [UNRESOLVED]?
Is it the questions here? https://bitcointalk.org/index.php?topic=1064423.msg11486901#msg11486901

I wouldn't know how to answer these if I were in the same position. They are not related to project itself but more assumptions from a forum member.
And because of that the mod adds Unresolved? Please specify what needs answering.

I did not get involved. In fact, once the scam threads came up, I was the one who sent him a mail and asked him to come here and try to explain.
He pinged me on whatsapp and offered me what looks like a bribe, primarily with regards to the timing of the offer. I have not posted that anywhere as yet.

The biggest problem here is that they have claimed over $4 mil USD worth of sales a month after they said that they were in very early stages of development.
https://bitcointalk.org/index.php?topic=1057794.msg11737553#msg11737553

PS: What is it exactly that Trestor hasn't answered here that this thread deserves [UNRESOLVED]?
Is it the questions here? https://bitcointalk.org/index.php?topic=1064423.msg11486901#msg11486901

You will say you posted only publicly available info.. Really? What about the email trails with Benson and the Whatsapp screenshots. How is that publicly available?

I don't believe that there was any reason for him to do that apart from deviate from his marketing purpose that has gone sour. And I would really like an answer for that since he brought the same into this thread.

Since that post with regards to the Q&A is more of a personal response, I will remove the unresolved tag.

Am not an unreasonable guy. I have been around here for long and try very hard not to get dragged into things like this. I have read the comments on most of their articles/ internet press and they were taking a beating from a lot of people even before they posted their launch. I really did want to see something good happen cos atleast they have a good team, etc. I only started to look at them after they asked me and noticed problems in everything that they were saying/ posting/ trying.

There is no smear campaign in place here. TBH, I hardly have any time on my hands. I try not to get involved in things like this. He was the one who posted the whatsapp thread and sent it to the press, not me. I had been very tempted to comment as well on that, but I have not. That backfired. He also tried to post some personal things about my company and team and then sent it to the press as well. That did'nt go well too.

The rest, do need answers. I have not started the threads, and there is an ongoing scam discussion on the main boards of the India forum, and as mod, the only thing that I have done is tag those posts and highlight them as the opinions are getting scattered across 4-5 posts.

The thing that buffles me is how on hearth a forum moderator with a hero status seems to be getting personal and running a campaign to discredit the project and its leader.
My understanding of the function of a forum mod is to make sure threads are posted in the right place, remove non related content to the topic or section in question, spammy content, etc.
I also thought that a forum mod would be someone who is objective in his/her judgement when commenting on a thread he/she deems needs moderation.

The status is Legendary, not Hero.
This is not a personal campaign. Am just answering questions as and when asked. What he tried was a personal campaign when he brought up things that were not related to bitcoin or anything else.
We are allowed to post warnings, links, etc when there are too many threads pertaining to one topic that may look fishy to a lot of members.

[Benson Samuel]

The biggest problem here is that they have claimed over $4 mil USD worth of sales a month after they said that they were in very early stages of development.
https://bitcointalk.org/index.php?topic=1057794.msg11737553#msg11737553

From what I read so far it looks like they have been around for a while and what I see on their website is a huge team of people and have quite a few experts in different fields.
I cannot say the same for many other altcoins, some of which you don't even know who the developers are. Trestor seems pretty open and public. I consider that positive when I try to make my mind on a project.
They also have 569 retail partners in 65 countries according to this: https://trestor.org/locate-retail-partner so $4 million USD doesn't sound like it's impossible to achieve.

They said that they were in the early stages, last month... 

https://bitcointalk.org/index.php?topic=890008.0 actually shows a lot about their retail partners as well.

[Benson Samuel]

The biggest problem here is that they have claimed over $4 mil USD worth of sales a month after they said that they were in very early stages of development.
https://bitcointalk.org/index.php?topic=1057794.msg11737553#msg11737553

From what I read so far it looks like they have been around for a while and what I see on their website is a huge team of people and have quite a few experts in different fields.
I cannot say the same for many other altcoins, some of which you don't even know who the developers are. Trestor seems pretty open and public. I consider that positive when I try to make my mind on a project.
They also have 569 retail partners in 65 countries according to this: https://trestor.org/locate-retail-partner so $4 million USD doesn't sound like it's impossible to achieve.

They said that they were in the early stages, last month... 

https://bitcointalk.org/index.php?topic=890008.0 actually shows a lot about their retail partners as well.

I just read Trestor's comment on the other thread you pointed out, but where does it say $4 million USD worth of sales?
Not even in the articles on that thread there is a mention of that.

And I don't see their mention of being at early stages on that same thread.
One thing though with 4 million dollars things should move pretty fast development wise.

I will go through the other threads later, got some work to do too! LOL

Maybe you did not read the thread - https://bitcointalk.org/index.php?topic=1057794.msg11737553#msg11737553

http://www.ummid.com/news/2015/June/20.06.2015/trestor-partners-with-cameron.html

Quote
Currently, Trestor has recorded a global sale of $3 million trests (the currency) and an India sale of over $1 million. "India accounts for 35.6 percent of our India sales," Dixit said.

Or maybe you missed

https://bitcointalk.org/index.php?topic=1064423.msg11423036#msg11423036 - May 19, 2015, 07:24:45 PM

Quote
As you can read on our website, one of our primary goals is that all the software involved will be open source. At the moment, we are still in a very early stage of development. (Our project is not a (direct or indirect) fork of the Bitcoin software (unlike the dozens of altcoins, who did nothing but change the logo in bitcoin-qt and some parameters like block generation rate). That's why it takes some time.)

This is why threads need to be labelled as unresolved and linked to each other.

[Benson Samuel]

I replied, on the other thread, you got the numbers wrong. Check it out. This is the first time I see threads marked [UNRESOLVED] in the whole 2 years I've been on BitcoinTalk.
I've seen many threads as mentioned before where people were calling projects scam but never a mod went and marked a thread [UNRESOLVED].
Also one of the threads has not even been created by trestorfoundation but by user Skang so I don't see why it should be linked to their other 2 threads which they have created.
Some unusual practices in the India subforum for some reason. Can you explain?

I did mark those as Unresolved. Now you have seen it on the forums after 2 whole years.
They have answered across the threads and as per some requests from forum members, they were linked as answers do vary.

Nothing unusual, just working on mod reports, user PM's/ Requests and of course, my own user account, which this so happens to be.

[Benson Samuel]

Thanks for the explanation. So when does a thread becomes resolved?

U mark it as solved when questions have been answered which Trestor seems to have done.

So every time there is a new question you will mark as [UNRESOLVED]?

Seems a little unusual to me unless of course you have issues with the project.

It's normal the community asks questions but is not like Trestor hasn't been replying to questions is it?

Also why do you link a thread which a community user has created to the trestor account?


I could go and create a thread and say Benson Samuel the India subforum moderator has a problem with Trestor and he's trying all he can to make them look like a scam.
The I can create another one, and another one, or another user could create another. Will you link them together too?

This is just an example, I may have to notify some of the other moderators and admins on this forum and see if they think this is normal practice and they feel it's ok.

If you do want a thread like that, please go ahead.
I would like you to notify them as well. In fact, please do.

I do have PM's/ emails/ posts/ requests from several members of this community, who feel unsafe about them and did request my opinion/ involvement. Would be glad to explain that to someone who understand what a Mod does.

I have hardly made any posts across these threads and this senseless banter keeps getting drawn to me.

SockPuppets and their time wasting efforts.