IOTA

[Abraxas147]

Not a single dollar of the money we raised were EVER said to go to marketing or branding, only the software.

...see your crowdsale OP:

https://bitcointalk.org/index.php?topic=1262688.0

Purpose of the crowdsale


Development. The crowdsale funds will be used for further development and finalization of the IOTA software as well as development of the Jinn hardware processor which will strengthen and help bootstrap the network in its growing phase. Additionally funds will be used on marketing efforts to help nurture the growth of the IOTA network and  community.

What about these marketing efforts?

[1713248115]

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[1713248115]

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[wizzardTim]

Given that many people will give the BTC gained from 'the big deal' to the foundation, how close are we to establish the foundation??

I think we are close, right?

[achimsmile]

Given that many people will give the BTC gained from 'the big deal' to the foundation, how close are we to establish the foundation??

I think we are close, right?

Foundation is ~62% founded

[Videodrome]

fully agree with this. The BTC raised in the crowdfound must be used for marketing branding and other important thing. You can not expect that this matter must be done by the crowdfound members.I know community and work group are important but the money you have raised are also important to do something.I have the impression that you're asking too much to the community! Which are already people who have largely financed you and your project.

No. You don't go to the store to buy football shoes and then expect the seller to also train you how to play football and ensure that you make it to the champions league. You bought IoT software, no more and no less. Not a single dollar of the money we raised were EVER said to go to marketing or branding, only the software. The work we have done for marketing, branding, adoption etc. for the past 5 months has been our volunteer work as community members. Remember we didn't even set aside a single iota premine to ourselves, precisely because this is a community project; if the community fails to deliver it is 100% responsible. This has been clear from day 1, so please stop being passive and do something.

Now we have setup the foundation initiative as a way for the community to CHOOSE if they want us to continue doing the marketing etc. but it's not something anyone will do for free. You did not buy some magic lottery ticket that entitles you to a ROI. Stop with this bystander effect.

Your vision is hard to understand, you collected nearly a million dollars and you dont want to spend even € 10,000 for a decent marketing campaign.I dont want to open a discussion or do protest,but if you think in that way we are practically burned at the start.

Cfb what is your opinion about this? You want to invest  some crowdfound btc for a marketing campaign or we do a free campaign(!!) maded by  someone chosen at random among IOTA owners?Some good Samaritan which had invested in IOTA and then donated them to the foundation and then work .... for free!(an ideal world but very far from reality)

[Come-from-Beyond]

Cfb what is your opinion about this? You want to invest  some crowdfound btc for a marketing campaign or we do a free campaign(!!) maded by  someone chosen at random among IOTA owners?Some good Samaritan which had invested in IOTA and then donated them to the foundation and then work .... for free!(an ideal world but very far from reality)

Will voice it after 0.9.0, I'm in testing crunch now, can't read/write meaningful phrases without breaking this stance.

[Videodrome]

Cfb what is your opinion about this? You want to invest  some crowdfound btc for a marketing campaign or we do a free campaign(!!) maded by  someone chosen at random among IOTA owners?Some good Samaritan which had invested in IOTA and then donated them to the foundation and then work .... for free!(an ideal world but very far from reality)

Will voice it after 0.9.0, I'm in testing crunch now, can't read/write meaningful phrases without breaking this stance.

LOL!! good job then!!!

[iotatoken]

Your vision is hard to understand, you collected nearly a million dollars and you dont want to spend even € 10,000 for a decent marketing campaign.

Alright let's just get this straight once and for all as I don't have time to address this ad nauseam:

First of all I abhor dealing with people who just make up facts. 1 million dollars? We raised ~500 000 dollars, of which a significant portion was JINN tokens that can't be used to buy things. So nowhere near 1 million dollars, unless you have a cheque worth 500 000 dollars that you just forgot to give us? If that's the case then we can of course discuss how to use these 500K to market IOTA.

And 10 000 euro for marketing? The work we have already done in that regard for the past 5 months is worth far more than 10 000 euro. Why do you think IOTA trades at 20x its ICO price? That is the value of what we have already done. For free.

We said from day 1 that this is a COMMUNITY PROJECT. Otherwise we'd set aside a pre-mine. Why did we do this? Because we did not want people to become passive bystanders that don't participate, and to be 100% free from the cancerous mentality of people who think they own you because they bought software from you. EVERYONE knew this and EVERYONE agreed to this when purchasing IOTA.

No person has worked harder for your iota to become known and adopted in the world than me. I have worked literally EVERY day since October on IOTA, I have conducted tens of interviews, done all the branding and marketing as well as management of the project. I got tons of things lined up. So I am not going to sit here and listen to someone tell me what to do. You get the software you paid for and the additional boost from our work. You got no more rights than that. I absolutely despise how some people think they OWN people because they bought software from them.

And just to put this into perspective: Ethereum raised 18 million dollars and had a 15% premine and even they almost went bankrupt at one point, you expect us with 500 000 dollars, ZERO premine and way less time to do more than them alone? Are you insane?


If you want IOTA to grow you got 3 options:

1) Donate to the Foundation
2) Make projects with IOTA, iotas are not magic beans that owe you anything, it is software that is meant to be used for IoT projects
3) Be an active community member that go to IoT meetups and conferences, network, get people interested

Preferably you should do all of the above. The last thing you should do is sit on BTT and complain about something you got no right to complain about. This is my last reply on this subject.

[rtrtcrypto]

How much of the funds are left? Is there a roadmap on its use going forward? What is the plan in relation to future funds? Just the foundation?

Thx.

[iotatoken]

How much of the funds are left? Is there a roadmap on its use going forward? What is the plan in relation to future funds? Just the foundation?

Thx.

Like we said from day 1:

Funds go toward: developing IOTA and developing Jinn. Extra (should be counted as 5 months work at this point) goes to adoption/marketing.

[rtrtcrypto]

Yes. I know that much, I'm asking if we may have a breakdown of exactly what goes where and what development costs are like. I'm curious, for example, what the balance between spending on Iota vs Jinn is like. Etc etc.

Would be nice to also have an understanding of the size of the team and what the burn rate is.

Thx once more.

How much of the funds are left? Is there a roadmap on its use going forward? What is the plan in relation to future funds? Just the foundation?

Thx.

Like we said from day 1:

Funds go toward: developing IOTA and developing Jinn. Extra (should be counted as 5 months work at this point) goes to adoption/marketing.

[iotatoken]

Yes. I know that much, I'm asking if we may have a breakdown of exactly what goes where and what development costs are like. I'm curious, for example, what the balance between spending on Iota vs Jinn is like. Etc etc.

Would be nice to also have an understanding of the size of the team and what the burn rate is.

Like any other sane start-up we won't open our spreadsheets, no. But in general: with exception of salaries to CfB so he can feed his family, our burn rate remains very low, the biggest expense thus far has been the VAT tax to the Norwegian state on the software sale itself. (Welcome to the real world of business, you can't just put money in your pocket). Which is why I work for free, so that we can put the vast majority into Jinn development.

IOTA team still consist of Me, Serguei(Mthcl) and CfB. I won't digress this thread into explaining the Jinn team and roadmap, I have already stated that this comes post-IOTA launch in Jinn thread on nxtforum.

As for the roadmap of IOTA: last-stage of beta and then launch, help exchanges add it, launch new website and video.
From thereon out the adoption and marketing will be taken care of by the foundation and community itself, as was the plan from day 1.

Of course on the side of this is a lot of partnerships and marketing that we have been working on which will be announced mostly post-Foundation founding.

[rtrtcrypto]

Thx.

Yes. I know that much, I'm asking if we may have a breakdown of exactly what goes where and what development costs are like. I'm curious, for example, what the balance between spending on Iota vs Jinn is like. Etc etc.

Would be nice to also have an understanding of the size of the team and what the burn rate is.

Like any other sane start-up we won't open our spreadsheets, no. But in general: with exception of salaries to CfB so he can feed his family, our burn rate remains very low, the biggest expense thus far has been the VAT tax to the Norwegian state on the software sale itself. (Welcome to the real world of business, you can't just put money in your pocket). Which is why I work for free, so that we can put the vast majority into Jinn development.

IOTA team still consist of Me, Serguei(Mthcl) and CfB. I won't digress this thread into explaining the Jinn team and roadmap, I have already stated that this comes post-IOTA launch in Jinn thread on nxtforum.

As for the roadmap of IOTA: last-stage of beta and then launch, help exchanges add it, launch new website and video.
From thereon out the adoption and marketing will be taken care of by the foundation and community itself, as was the plan from day 1.

Of course on the side of this is a lot of partnerships and marketing that we have been working on which will be announced mostly post-Foundation founding.

[achimsmile]

Your vision is hard to understand, you collected nearly a million dollars and you dont want to spend even € 10,000 for a decent marketing campaign.I dont want to open a discussion or do protest,but if you think in that way we are practically burned at the start.

I know everyone is impatient because iota did not launch yet, ofc there is not much visible marketing right now, it's too early. But I'm sure once it launches david has some announcements that will boost marketing by itself. No need to pay for thunderclap campaigns or signature ads. Btw what campaign would you run? Some articles on a crypto news site? An ad in a newspaper? A giveaway?
What iota needs are business connections. And use cases, which we, the community can do.

But honestly, let's put your statement into perspective: Imagine you buy a physical casascius bitcoin, and hope to trade it for more money later. Would you expect Mark (the creator) to launch a marketing campaingn, praising his coins, after you bought it? No. Because the deal was: 1 physical coin for your money.

The deal with iota was your BTC for tokens. The devs are free to spend the 500k for blackjack and hookers imo, after they deliver the software, which they will.

[iotatoken]

LOGIC

Exactly. What annoys me the most is that people spend hours whining about things instead of doing something.

There'll be plenty of press I have lined up with way bigger than crypto site impact. I got tons of things lined up, and the foundation will continue to ensure IOTA adoption. Yet I have to waste hours on responding to the same bullshit over and over and over every week.

[Tobo]

If you want IOTA to grow you got 3 options:

1) Donate to the Foundation
2) Make projects with IOTA, iotas are not magic beans that owe you anything, it is software that is meant to be used for IoT projects
3) Be an active community member that go to IoT meetups and conferences, network, get people interested

Preferably you should do all of the above. The last thing you should do is sit on BTT and complain about something you got no right to complain about. This is my last reply on this subject.

These are something every investor can do to increase the value of IOTA, namely the value of your own assets. As investors, we all need to sit down and seriously think about how to make our investment worth more and valuable instead of just coming to BTT every days to ask questions and wait for the big news coming out and dreaming of other people working hard for this projects.

As we have seen cryptocurrency space evolving, we probably know what to take to make a cryptocurrency valuable. Today there is an article about the startups growth on Ethereum platform (http://www.coindesk.com/first-ethereum-startup-funding-investor-says/). It is pretty clear that the only way to make a platform’s value grow is to have real business and startups built on this platform. Otherwise, it will just be pump and dump and have no sustainable growth.

Now we know the goal – growth of the business and startups on IOTA platform. How do we get there? What can each investor do to get there? How can each of us to help to get IOTA connected to programmers and entrepreneurs in IoT space?  If you are interested in marketing strategies, what is the most efficient marketing we can do within our budget to get there? These are some serious issues we can think about and act upon.

I don’t think we will see projects like IOTA in the future any more, which are high in potentials and low in crowd-sale price. Even if you only invested a small amount money you still have chance to become rich. In today’s cryptocurrency world and from now on, even the crowd-sales/ICO of a very average project will cost people millions of dollars. As an average fish, you will never have chance to be rich by investing in those projects.

If you are not a BTC whale, IOTA could be your last opportunity to become rich in the cryptocurrency world. Actually now you as an individual have a chance to make it happen by helping on the testing and the core team, searching, thinking, and researching on the real business opportunities and marketing strategies, getting IOTA connected to more programmers and startups and entrepreneurs in the IoT space , and many more.

[Come-from-Beyond]

Some cleaning has been done. Next time don't quote altcoinUK, please.

[superresistant]

3) Be an active community member that go to IoT meetups and conferences, network, get people interested

This is easy, it really works and it eventually pays !
I did a lot of Bitcoin & Cryptos meetups in France and now people pay me to learn about it.

Start some meetups in your city now !

[iotatoken]

3) Be an active community member that go to IoT meetups and conferences, network, get people interested

This is easy, it really works and it eventually pays !
I did a lot of Bitcoin & Cryptos meetups in France and now people pay me to learn about it.

Start some meetups in your city now !

Exactly. I think people just mentally over-complicate the issue of how easy it can be to get involved and engaged. You don't require some hyper-extensive tech background or even business background to get some connections. Then just forward it to the foundation and we'll do the rest and you'll know that you've been productive. It's infinitely better than complaining at BTT

[Videodrome]

..

Man you have a strong vision and you belive in that.This is really important. I repeat i dont want to tell you what you need to do beacause you and Cfb are the leader and both  have great experience. I only hope you will think about my words. Thanks for the complete reply to my post.BTW I will support IOTA with all my strenght and i hope also a marketing team will !(one day)

[msin]

Can someone post a link to the Foundation Funds spreadsheet? I'm patient but do believe once we have the GUI we will see some good progress on establishing a Foundation (hitting our goals for funding) and strong community. I think there are a lot of secondary deals up in the air, but I expect we'll see a lot of new faces once we hit an exchange and people start buying. Going to be exciting