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Author Topic: IOTA  (Read 591364 times)
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Komputor
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December 09, 2015, 03:58:07 PM
 #981

For those that havent seen this one, Andreas Antonopoulos on IOT and Bitcoin's role in it. IOT talks starts from 9:03 -

https://www.youtube.com/watch?v=9PFDCQz5Xi0
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According to NIST and ECRYPT II, the cryptographic algorithms used in Bitcoin are expected to be strong until at least 2030. (After that, it will not be too difficult to transition to different algorithms.)
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December 09, 2015, 05:42:35 PM
 #982

l8orre, I definitely agree, this is why I am against scaling up too fast, it leads to uncontrollable spending. This IMO is what caused Ethereum a ton of grief, they had too high salaries, too many employees, too many development hubs arond the world etc. Simply too expensive. Brilliant developers with no business and management experience/interest. I recommend the 'Founders Dilemma' book to every future entrepreneur.

This is only a budget issue. It is not about how much you spend. It is about if your income or revenue (which can be the capital injection from the investors) can cover your spend and if the company's debt stricture is in a healthy level. More spending does not automatically mean a bad thing when today's spending will bring future values and revenue for the company.  


Of course, but this is not a regular business. They run a non-profit organization with no clear future revenue stream beside consulting. Spending that much money upfront without a functioning product and keeping the vast majority of the funds in a volatile currency, was imo a very risky and inexperienced decision.


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December 09, 2015, 07:41:21 PM
 #983

What are your plans for the BTC?

Will you unload 85% (or some other high%) and keep the rest as an arbitrage play? Or, will you unload it all? BTC seems to be establishing a new floor, maybe the upside is not so bad.

 


l8orre, I definitely agree, this is why I am against scaling up too fast, it leads to uncontrollable spending. This IMO is what caused Ethereum a ton of grief, they had too high salaries, too many employees, too many development hubs arond the world etc. Simply too expensive. Brilliant developers with no business and management experience/interest. I recommend the 'Founders Dilemma' book to every future entrepreneur.

This is only a budget issue. It is not about how much you spend. It is about if your income or revenue (which can be the capital injection from the investors) can cover your spend and if the company's debt stricture is in a healthy level. More spending does not automatically mean a bad thing when today's spending will bring future values and revenue for the company.  


Of course, but this is not a regular business. They run a non-profit organization with no clear future revenue stream beside consulting. Spending that much money upfront without a functioning product and keeping the vast majority of the funds in a volatile currency, was imo a very risky and inexperienced decision.


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December 09, 2015, 08:00:17 PM
 #984

What are your plans for the BTC?

Will you unload 85% (or some other high%) and keep the rest as an arbitrage play? Or, will you unload it all? BTC seems to be establishing a new floor, maybe the upside is not so bad.

If we sell - BTC will rise. If we keep - BTC will plummet. Which scenario do you prefer?
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December 09, 2015, 08:10:16 PM
 #985

ALIVE CAT-DEAD CAT, I hope you sell and the price both raises and falls simultaneously.

Actually, I just want you guys to get the needed money to push this thing forward. If the money raised is enough to keep a comfortable burn rate until the project is successful, then SELL IT ALL.

What are your plans for the BTC?

Will you unload 85% (or some other high%) and keep the rest as an arbitrage play? Or, will you unload it all? BTC seems to be establishing a new floor, maybe the upside is not so bad.

If we sell - BTC will rise. If we keep - BTC will plummet. Which scenario do you prefer?
iotatoken
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December 09, 2015, 08:35:58 PM
 #986

ALIVE CAT-DEAD CAT, I hope you sell and the price both raises and falls simultaneously.

Actually, I just want you guys to get the needed money to push this thing forward. If the money raised is enough to keep a comfortable burn rate until the project is successful, then SELL IT ALL.

What are your plans for the BTC?

Will you unload 85% (or some other high%) and keep the rest as an arbitrage play? Or, will you unload it all? BTC seems to be establishing a new floor, maybe the upside is not so bad.

If we sell - BTC will rise. If we keep - BTC will plummet. Which scenario do you prefer?

We will unload the vast majority of it. (over 80%)

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December 09, 2015, 08:38:46 PM
 #987

Good, between that and having JINN tokens to offer potential employees, you guys should have some breathing room.

ALIVE CAT-DEAD CAT, I hope you sell and the price both raises and falls simultaneously.

Actually, I just want you guys to get the needed money to push this thing forward. If the money raised is enough to keep a comfortable burn rate until the project is successful, then SELL IT ALL.

What are your plans for the BTC?

Will you unload 85% (or some other high%) and keep the rest as an arbitrage play? Or, will you unload it all? BTC seems to be establishing a new floor, maybe the upside is not so bad.

If we sell - BTC will rise. If we keep - BTC will plummet. Which scenario do you prefer?

We will unload the vast majority of it. (over 80%)
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December 09, 2015, 09:14:45 PM
 #988

If we sell - BTC will rise. If we keep - BTC will plummet. Which scenario do you prefer?

Sell. So you can minimize the volatility(risk).
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December 09, 2015, 09:21:55 PM
 #989

If we sell - BTC will rise. If we keep - BTC will plummet. Which scenario do you prefer?

Sell. So you can minimize the volatility(risk).

Yes, the plan has always been to sell over 80%, we'll retain a sum for the first couple of months simply because we pay all the salaries in Bitcoin anyway.

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December 09, 2015, 10:12:01 PM
 #990


Also, do you have any detailed plan in hardware side? It will require more capital investment, right? Any partnership yet?

Thank you

Yes, we're 13 months into the hardware development. As for requiring more capital investment, do you mean to get prototype or production run? If latter, yes certainly. We'll eventually have to take the 'traditional VC route', but so far we're doing quite good. Re: partnerships on the hardware side, can't disclose anything due to NDA and the fact that it's still preliminary stages.

What are the consequences if you take the 'traditional VC route' for existing Jinn asset holders?

Traditional VC route simply means getting cash infusion, nothing changes.

So i guess this will happen by selling existing jinn shares in your possession or will there be dilution of the jinn shares?
iotatoken
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December 09, 2015, 10:41:15 PM
 #991


Also, do you have any detailed plan in hardware side? It will require more capital investment, right? Any partnership yet?

Thank you

Yes, we're 13 months into the hardware development. As for requiring more capital investment, do you mean to get prototype or production run? If latter, yes certainly. We'll eventually have to take the 'traditional VC route', but so far we're doing quite good. Re: partnerships on the hardware side, can't disclose anything due to NDA and the fact that it's still preliminary stages.

What are the consequences if you take the 'traditional VC route' for existing Jinn asset holders?

Traditional VC route simply means getting cash infusion, nothing changes.

So i guess this will happen by selling existing jinn shares in your possession or will there be dilution of the jinn shares?


Of course this is all hypothetical at the moment, but most VCs demand equity, so that's the most LIKELY route.

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December 10, 2015, 08:52:29 AM
 #992

IOTA: Cryptocurrency of Internet of Things - Conversation with Co-founder of IOTA, David Sønstebø

http://meshbits.io/iota-cryptocurrency-of-internet-of-things/


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December 10, 2015, 09:56:58 AM
 #993

Well done Sir, really a great article/interview  Smiley

Altcoinspekulant: Deutscher Altcoinblog.
rtrtcrypto
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December 10, 2015, 10:03:56 AM
 #994

Now JINN tokens are EQUITY again???

You need to be more consistent with the things you say, David.




Also, do you have any detailed plan in hardware side? It will require more capital investment, right? Any partnership yet?

Thank you

Yes, we're 13 months into the hardware development. As for requiring more capital investment, do you mean to get prototype or production run? If latter, yes certainly. We'll eventually have to take the 'traditional VC route', but so far we're doing quite good. Re: partnerships on the hardware side, can't disclose anything due to NDA and the fact that it's still preliminary stages.

What are the consequences if you take the 'traditional VC route' for existing Jinn asset holders?

Traditional VC route simply means getting cash infusion, nothing changes.

So i guess this will happen by selling existing jinn shares in your possession or will there be dilution of the jinn shares?


Of course this is all hypothetical at the moment, but most VCs demand equity, so that's the most LIKELY route.
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December 10, 2015, 10:17:36 AM
 #995

Now JINN tokens are EQUITY again???

You need to be more consistent with the things you say, David.

Looks like one of you don't know English lol.
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December 10, 2015, 11:00:07 AM
 #996

Now JINN tokens are EQUITY again???

You need to be more consistent with the things you say, David.




Also, do you have any detailed plan in hardware side? It will require more capital investment, right? Any partnership yet?

Thank you

Yes, we're 13 months into the hardware development. As for requiring more capital investment, do you mean to get prototype or production run? If latter, yes certainly. We'll eventually have to take the 'traditional VC route', but so far we're doing quite good. Re: partnerships on the hardware side, can't disclose anything due to NDA and the fact that it's still preliminary stages.

What are the consequences if you take the 'traditional VC route' for existing Jinn asset holders?

Traditional VC route simply means getting cash infusion, nothing changes.

So i guess this will happen by selling existing jinn shares in your possession or will there be dilution of the jinn shares?


Of course this is all hypothetical at the moment, but most VCs demand equity, so that's the most LIKELY route.


No, it looks like you need to read before commenting. A future VENTURE CAPITALIST will most likely want equity. How you translate that into JINN Tokens, which have never been decribed as equity by me or CfB EVER, is beyond me.

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December 10, 2015, 11:23:13 AM
 #997

David, the question was posed to you specifically as to the fate of the JINN TOKENS that have been bought back (traded in for IOTA)...

This exchange implied the following:

-What happens if you go VC route?

A: Traditional VC route simply means getting cash infusion, nothing changes.

-So I guess this will happen BY SELLING JINN SHARES IN YOUR POSSESSION?

A: Of course this is all hypothetical at the moment, but most VCs demand equity, so that's the most LIKELY route.

--------

Is english not your first language? Because I'm always confused by the things you write which then seem, to you, to always have meant something else.

I take it you are saying that your answer was in fact DISCONNECTED from the previous question that was put to you? It doesn't read that way in the exchange you just had that I quoted.



Now JINN tokens are EQUITY again???

You need to be more consistent with the things you say, David.




Also, do you have any detailed plan in hardware side? It will require more capital investment, right? Any partnership yet?

Thank you

Yes, we're 13 months into the hardware development. As for requiring more capital investment, do you mean to get prototype or production run? If latter, yes certainly. We'll eventually have to take the 'traditional VC route', but so far we're doing quite good. Re: partnerships on the hardware side, can't disclose anything due to NDA and the fact that it's still preliminary stages.

What are the consequences if you take the 'traditional VC route' for existing Jinn asset holders?

Traditional VC route simply means getting cash infusion, nothing changes.

So i guess this will happen by selling existing jinn shares in your possession or will there be dilution of the jinn shares?


Of course this is all hypothetical at the moment, but most VCs demand equity, so that's the most LIKELY route.


No, it looks like you need to read before commenting. A future VENTURE CAPITALIST will most likely want equity. How you translate that into JINN Tokens, which have never been decribed as equity by me or CfB EVER, is beyond me.
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December 10, 2015, 11:41:24 AM
 #998

David, the question was posed to you specifically as to the fate of the JINN TOKENS that have been bought back (traded in for IOTA)...

This exchange implied the following:

-What happens if you go VC route?

A: Traditional VC route simply means getting cash infusion, nothing changes.

-So I guess this will happen BY SELLING JINN SHARES IN YOUR POSSESSION?

A: Of course this is all hypothetical at the moment, but most VCs demand equity, so that's the most LIKELY route.

--------

Is english not your first language? Because I'm always confused by the things you write which then seem, to you, to always have meant something else.

I take it you are saying that your answer was in fact DISCONNECTED from the previous question that was put to you? It doesn't read that way in the exchange you just had that I quoted.


Last comment on this, this thread is not about JINN, but IOTA BTC sale. Go to NXTForum for that discussion.

1. English is not my first language, I am Norwegian, but I have never heard any complaints about my usage of English.

2. I was asked what would happen to JINN holders in the event of VC funding, I answered clearly that it would not change anything, VC funding is just that; capital infusion. I was then asked if that would take place through JINN tokens, to which I replied NO, VCs want equity, so that's the route we'll most likely take when the time comes.

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December 10, 2015, 11:52:13 AM
 #999

Ok,

The "NO" was not clear in your answer. The structuring of the response makes it appear as if you are answering his question directly; this is because he poses his question with a guess that you WILL give VCs JINN tokens, he even calls them SHARES: (So I guess this will happen BY SELLING JINN SHARES IN YOUR POSSESSION?)

You don't correct him in his use of SHARE and you also don't say NO and follow it with your answer, you simply answer. (Of course this is all hypothetical at the moment, but most VCs demand equity, so that's the most LIKELY route.)


"Likely" here doesn't appear to connect with "VC's demanding equity" but actually to LIKELY we will offer them "JINN SHARES IN YOUR POSSESSION"

To be perfectly clear, your answer is IN FACT:

First, JINN tokens are not SHARES... secondly, no, VCs would indeed require equity (which JINN tokens are NOT) and so, we will likely offer them a % of the company in the form of equity when the time comes.

OK. Understood.

edit: small typo









David, the question was posed to you specifically as to the fate of the JINN TOKENS that have been bought back (traded in for IOTA)...

This exchange implied the following:

-What happens if you go VC route?

A: Traditional VC route simply means getting cash infusion, nothing changes.

-So I guess this will happen BY SELLING JINN SHARES IN YOUR POSSESSION?

A: Of course this is all hypothetical at the moment, but most VCs demand equity, so that's the most LIKELY route.

--------

Is english not your first language? Because I'm always confused by the things you write which then seem, to you, to always have meant something else.

I take it you are saying that your answer was in fact DISCONNECTED from the previous question that was put to you? It doesn't read that way in the exchange you just had that I quoted.


Last comment on this, this thread is not about JINN, but IOTA BTC sale. Go to NXTForum for that discussion.

1. English is not my first language, I am Norwegian, but I have never heard any complaints about my usage of English.

2. I was asked what would happen to JINN holders in the event of VC funding, I answered clearly that it would not change anything, VC funding is just that; capital infusion. I was then asked if that would take place through JINN tokens, to which I replied NO, VCs want equity, so that's the route we'll most likely take when the time comes.
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December 10, 2015, 12:03:01 PM
 #1000

Well done Sir, really a great article/interview  Smiley

Thanks mate!

Wasn't intentionally an interview. I was just getting my queries cleared regarding IOTA. That conversation seems like good enough for article. composed it, published it. Smiley

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