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Author Topic: IOTA  (Read 1115891 times)
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iotatoken
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October 26, 2015, 09:56:57 PM
 #261


0% of the coins go to the team. The team will be compensated via funds raised in the ICO, no pre-mine. We'll have to buy our tokens just like everyone else.


ie. we will have no reason to continue working on the coin as we will not be vested in it and have already received another currency we could cash out into FIAT



I have no problem understanding this concern, given the space that we're in (crypto is the wild wild wild west after all), but your assumption here is blatantly wrong. We chose 0% premine because that is what is the absolute most fair to every party involved. We are basing our entire start-up around IoT, which we've been working on in stealth for a year, as explained in OP this is what prompted us to develop IOTA. It is a necessary ingredient for the vision of IoT that our start-up is focused on. On top of this all of us will invest our personal funds into IOTA, so no we have a ton of incentive to make IOTA a success.

how is a 0% premine any more fair than you raising BTC and repaying yourself for the coins you "purchased"?  
either way you are receiving BTC and you are using BTC to buy said coins.  they're free coins for you and less BTC for development.

if you were investing personal funds, why not put that into the development and just take a premine?


It is more fair because it means it's entirely up for grabs to anyone. There is no coins arbitrarily set aside for the developers. If the community insist, please feel free to donate free iotas to us after the ico Wink

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October 26, 2015, 10:01:21 PM
 #262

how is a 0% premine any more fair than you raising BTC and repaying yourself for the coins you "purchased"?  
either way you are receiving BTC and you are using BTC to buy said coins.  they're free coins for you and less BTC for development.

if you were investing personal funds, why not put that into the development and just take a premine?

What is the difference?
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October 26, 2015, 10:03:35 PM
 #263

Guys, if you don't stop trolling I'll start abusing moderating power without paying much attention who is right and who is wrong. It's my thread and I set the rule "no trolling allowed".
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October 26, 2015, 10:20:42 PM
 #264

@NextGenCrypto

You are wrong, posts were deleted for violation of my rules. You are welcome back if you don't violate the rules. BitcoinTalk mirror still contains your posts with personal insults.
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October 26, 2015, 10:20:56 PM
 #265

Guys, if you don't stop trolling I'll start abusing moderating power without paying much attention who is right and who is wrong. It's my thread and I set the rule "no trolling allowed".

He's right, my cool watch"ing" picture post was deleted.  Smiley
chocobo
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October 26, 2015, 10:52:23 PM
 #266

Hi, a couple of quick questions since the ICO seems to be the topic now:

How many % of the coins will the team keep?

Are you planning to prove somehow you're not "buying your own coins" from the ICO?

Is the ICO the only distribution method?

0% of the coins go to the team. The team will be compensated via funds raised in the ICO, no pre-mine. We'll have to buy our tokens just like everyone else.

Yes

ICO is indeed the only distributon method for this project for a couple of reasons:

1) It's the only way we'll get compensated for our work and development, since we have zero premine
2) It's the only way to ensure that the tokens are actually valued, which is needed to kickstart the ecosystem that will form around them and be part of their function


Won't you be compensated by your start-up? ICO's are NOT a good way to establish value, much less the only way.
iotatoken
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October 26, 2015, 10:57:39 PM
 #267

Hi, a couple of quick questions since the ICO seems to be the topic now:

How many % of the coins will the team keep?

Are you planning to prove somehow you're not "buying your own coins" from the ICO?

Is the ICO the only distribution method?

0% of the coins go to the team. The team will be compensated via funds raised in the ICO, no pre-mine. We'll have to buy our tokens just like everyone else.

Yes

ICO is indeed the only distributon method for this project for a couple of reasons:

1) It's the only way we'll get compensated for our work and development, since we have zero premine
2) It's the only way to ensure that the tokens are actually valued, which is needed to kickstart the ecosystem that will form around them and be part of their function


Won't you be compensated by your start-up? ICO's are NOT a good way to establish value, much less the only way.

Start-ups in the hardware industry does not pay dividends for quite some time, especially when it's not just a shiny toy for Kickstarter.

But ICOs are indeed a good way to establish value, it automatically spawns a sizable community that has a direct incentive to keep a platform alive. This is the problem with all these 1000 plus random PoW coins, they have absolutely no incentive. ICOs are not perfect, but they are better than the alternatives for a project such as this.

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October 26, 2015, 11:05:25 PM
 #268

I'm supporting this IPO.

There are a number of silent readers, who, as I think, supporting this too.
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October 26, 2015, 11:08:07 PM
 #269

Hi, a couple of quick questions since the ICO seems to be the topic now:

How many % of the coins will the team keep?

Are you planning to prove somehow you're not "buying your own coins" from the ICO?

Is the ICO the only distribution method?

0% of the coins go to the team. The team will be compensated via funds raised in the ICO, no pre-mine. We'll have to buy our tokens just like everyone else.

Yes

ICO is indeed the only distributon method for this project for a couple of reasons:

1) It's the only way we'll get compensated for our work and development, since we have zero premine
2) It's the only way to ensure that the tokens are actually valued, which is needed to kickstart the ecosystem that will form around them and be part of their function


Won't you be compensated by your start-up? ICO's are NOT a good way to establish value, much less the only way.

Start-ups in the hardware industry does not pay dividends for quite some time, especially when it's not just a shiny toy for Kickstarter.

But ICOs are indeed a good way to establish value, it automatically spawns a sizable community that has a direct incentive to keep a platform alive. This is the problem with all these 1000 plus random PoW coins, they have absolutely no incentive. ICOs are not perfect, but they are better than the alternatives for a project such as this.

All I have found so far is the tangle whitepaper. Do you have an outline of the goal of the start-up and how exactly the coin ties into it?
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October 27, 2015, 05:25:40 AM
 #270

Yeah I mean it sounds amazing, but for the basic user <-- ? And you think the community will be big enough to sustain any value set by the ico?

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iotatoken
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October 27, 2015, 05:53:25 AM
 #271

All I have found so far is the tangle whitepaper. Do you have an outline of the goal of the start-up and how exactly the coin ties into it?

Yes, it'll be made available in the coming week.

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October 27, 2015, 06:16:46 AM
 #272

All I have found so far is the tangle whitepaper. Do you have an outline of the goal of the start-up and how exactly the coin ties into it?

Yes, it'll be made available in the coming week.

Observing as I am assuming the coin has not launched yet
Will need to recheck this thread later.
chicken65
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October 27, 2015, 10:15:33 AM
 #273




Any idea when the IPO will be held and which exchange?


iotatoken
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October 27, 2015, 10:16:52 AM
 #274




Any idea when the IPO will be held and which exchange?



An idea, yes, but it's not yet and I prefer not to give ballpark date as it always distracts from what matters: the technology and getting more and more people into it.

50cent_rapper
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October 27, 2015, 10:58:04 AM
 #275




Any idea when the IPO will be held and which exchange?



An idea, yes, but it's not yet and I prefer not to give ballpark date as it always distracts from what matters: the technology and getting more and more people into it.

I suggest to not use exchange for IPO, cause Crypti's experience shows that 70% of all coins will be hold on exchange (people will not withdraw them), and then, a hack of exchange may happen (bter.com). 
iotatoken
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October 27, 2015, 11:43:09 AM
 #276




Any idea when the IPO will be held and which exchange?



An idea, yes, but it's not yet and I prefer not to give ballpark date as it always distracts from what matters: the technology and getting more and more people into it.

I suggest to not use exchange for IPO, cause Crypti's experience shows that 70% of all coins will be hold on exchange (people will not withdraw them), and then, a hack of exchange may happen (bter.com). 

No worries, we wont:)

altcoinUK
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October 27, 2015, 11:54:30 AM
 #277




Any idea when the IPO will be held and which exchange?



An idea, yes, but it's not yet and I prefer not to give ballpark date as it always distracts from what matters: the technology and getting more and more people into it.

I suggest to not use exchange for IPO, cause Crypti's experience shows that 70% of all coins will be hold on exchange (people will not withdraw them), and then, a hack of exchange may happen (bter.com). 

No worries, we wont:)

So the ICO money party is on.

I am not sure, but you might know that I have the bad habit to detect scams. I did it with regards to Bitbay and many other scams such as Bob's money collecting parties. My unmoderated threads discussed those scams, and those threads are more or less successfully prevented a larger damage caused to the digital currency community.

Can I ask what is your experience in Internet of Things?

What will be your monetization strategy to make money in a field (IoT) where nobody could make any money yet, not even Xively?

Your NXT coin and Supernet assets used by nobody in real world. These are digital assets/coin the NXT crowd sell to each other. What makes you think you will be able to succeed with a new coin in the most difficult technology field (IoT) when with NXT and Supernet you could not achieve real world adoption in the last 2 years and 1 year respectively?
iotatoken
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October 27, 2015, 12:09:04 PM
 #278


I am not sure, but you might know that I have the bad habit to detect scams. I did it with regards to Bitbay and many other scams such as Bob's money collecting parties. My unmoderated threads discussed those scams, and those threads are more or less successfully prevented a larger damage caused to the digital currency community.

Never heard of you.

Quote

Can I ask what is your experience in Internet of Things?


Been interested in the field and experimented with early IoT since its inception. Read all the reports and all the books.
We have also ran a start-up that is focused on IoT for 1 year now.

Quote
What will be your monetization strategy to make money in a field (IoT) where nobody could make any money yet, not even Xively?

Plenty of people make money in IoT, no idea where you got that idea into your head.

Quote
Your NXT coin and Supernet assets used by nobody in real world. These are digital assets/coin the NXT crowd sell to each other. What makes you think you will be able to succeed with a new coin in the most difficult technology field (IoT) when with NXT and Supernet you could not achieve real world adoption in the last 2 years and 1 year respectively?

If these blatant lies continue, you will be permanently banned from this thread. Consider this your sole warning.
We don't hold a single SuperNET asset and never have. As for 'your nxt coin', just because CfB was a lead dev for one of the most innovative cryptos, does not mean we are somehow liable for its community 2 years later. Everyone that got involved in Nxt when CfB was the lead dev got the best ROI in crypto history with exception of Bitcoin itself.

So if you got real questions, by all means ask, but when you talk this random bullshit that has no root in reality about us having anything to do with Nxt or SuperNET, I will just ignore you and your posts will be deleted.

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October 27, 2015, 12:23:06 PM
 #279

I am not sure, but you might know that I have the bad habit to detect scams.

I didn't know that but it's definitely a useful skill. Depends on your definition of "scam", of course. What is a scam from your point of view?
altcoinUK
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October 27, 2015, 12:52:01 PM
 #280

OK then.

Good luck with your project, and I suggest the GadgetCoin team and supporters do the same, wish good luck to IOTA. There are many projects could exists in the IoT field.
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