[ANN][LSK] Lisk | Blockchain Application Platform for JavaScript Developers

[poornamelessme]

A plan and a roadmap was under way for a new fund raiser to develop the DAPP store.  We were close to announcing it, when Max took the roadmap and the software and left the project. 

Max is just in it because he has a great need for money.  He constantly asked for salary increases during his time at Crypti, complaining about the high cost of living in Germany and his needs.  I could post Slack logs to prove it if necessary.

Question I have is, why would a fund raiser to develop the DAPP store be any more successful than a brand new ICO for the forked coin? I mean, sure it could have been successful, or alternatively thought of as a warning sign that the team was out of money (as apparently it was)... and made things even worse. With a brand new ICO, it seems like there would be a better chance of bringing outside money and getting more marketing exposure out of it.

As for asking for more money.... umm... so what? I have no problem with teams/devs wanting compensation for their work. Now of course if it's something shady, giant hidden premines or outright scams, not so good. But a dev running a ICO, so what?

[1715030744]

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[1715030744]

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[rtrtcrypto]

Sad to see Max and Olivier take this path. This was morally as bad as I've ever seen in the crypto sphere from a "dev" team that was not an outright scam - sad day. Having said that, the writing is on the wall, XCR is done. For those reasons, I will look to convert at the set rate of 1300. Can't say I'm not ashamed of the way this was handled though. It leaves little confidence in the team - I wish you guys luck, I hope you find more support for LISK than you were willing to give the XCR investors.

[LiskHQ]

The Week in Retrospect #1

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[bitseedmike]

A plan and a roadmap was under way for a new fund raiser to develop the DAPP store.  We were close to announcing it, when Max took the roadmap and the software and left the project. 

Max is just in it because he has a great need for money.  He constantly asked for salary increases during his time at Crypti, complaining about the high cost of living in Germany and his needs.  I could post Slack logs to prove it if necessary.

Question I have is, why would a fund raiser to develop the DAPP store be any more successful than a brand new ICO for the forked coin? I mean, sure it could have been successful, or alternatively thought of as a warning sign that the team was out of money (as apparently it was)... and made things even worse. With a brand new ICO, it seems like there would be a better chance of bringing outside money and getting more marketing exposure out of it.

As for asking for more money.... umm... so what? I have no problem with teams/devs wanting compensation for their work. Now of course if it's something shady, giant hidden premines or outright scams, not so good. But a dev running a ICO, so what?

Yes, The ICO to continue to develop the platform is really the better way to go.

As founders who created the original coin with no inflation and did a pre-sale with the condition that there would be no more created, we were under the obligation to adhere to those terms, so could not ethically do another funding round for the same project. The best option for us would be to do a different project based on the Crypti platform and do a sharedrop so investors in Crypti would have a stake in the new project as well.

Since Max and Olivier were investors who also contributed a lot to the project, they joined the foundation at our invitation since we wanted it to include active community members. They did a lot of hard work and were more than deserving of any salary increases they received, and the salaries were still well below market value for the work they were doing.

Given that Max and Olivier were not founders during the pre-sale, they are not bound by the conditions of it, and are free to do the much needed ICO to complete the project and market it properly. They also, of their own volition, recognize that the investors in Crypti paid for the foundation upon which Lisk is being built and are generously offering them a stake in its future.

This allows the resources and effort to be focused on developing the core technology, giving it the exposure it needs and deserves, and avoids splitting the community between different projects.

In closing, the statements that Crypti ran out of funds months ago with only part time work being done on it are untrue. There were three full time developers working on it with full compensation all the way through December, and are now just finishing the testing of Crypti Release 0.5.5. There are also sufficient funds left to operate the foundation owned delegates for the next 6 months and meet other closing expenses.

[Litoshi]

How many BTC does it take to buy a 3 year old BMW or MBZ?  

Max needs to know this for his ICO goal setting.

[rtrtcrypto]

That's in poor taste. Litoshi spent a lot of time helping and talking about XCR to others - he was a HUGE supporter.
Anyway, I'm done wasting energy on this issue. I will take my share in XCR and convert to LISK and won't think about this project again until the team can show itself capable of transitioning into this new reality. It's just hard to hide my disappointment.

Well, I am not a founding member or a dev........ I also was not in on the decision to surrender to the thief.

You guys need to understand that Mike is anti-Intellectual Property.  In Mikes world, every software program would be instantly open source and copy-able, every movie could be copied and posted on YouTube (why pay to see Star Wars?); any radio broadcast, artwork, song, or book could be copied and distributed freely.  There would be no such things as patents and copywrites.  When his "BitSeed" logo and name were copied and used by the BitSeeds coin group https://bitcointalk.org/index.php?topic=1028446 he posted one post in protest, changed his BTT name, and went away.

He also understands that the keys to the kingdom have been copied and the thief is going to empty the treasury.  There is nothing he can do about it.  

I haven't followed XCR that closely, although I was in on the ICO ages ago. But your posts are beginning to come across as sour grapes/fud rather than intelligent arguments or warnings.

Issue with a coin copying another in cryptoland? From an outside perspective, I understand that fully, and it seems really weird how everything is open-sourced in crypto. But that's just the way it is. If there were no copies, there would basically be no alts at all.

As for 'the thief' emptying the treasury, it's not like XCR was thriving and chugging along fine. If XCR didn't fork now or try some method of obtaining more funds, how much longer could it have even survived?

In a way, a lot of complaining sounds like sour grapes... they did the ICO before XCR attempted another one... rather than valid arguments.

Now if you want to get into real arguments against the ICO here, you could point to the inherent risk. It'll only work if they get enough btc/eth from outside investors. Otherwise too many XCR people will dump, and there won't be enough btc to support the price or development after the ICO. It's possible to do (look at ETH), but also very iffy.

A plan and a roadmap was under way for a new fund raiser to develop the DAPP store.  We were close to announcing it, when Max took the roadmap and the software and left the project.  

Max is just in it because he has a great need for money.  He constantly asked for salary increases during his time at Crypti, complaining about the high cost of living in Germany and his needs.  I could post Slack logs to prove it if necessary.

Oh man, you have fallen through hard times. You are tilted, raged so infuriated that you've stooped so low to threaten an upcoming crypto experiment.

The Crypti foundation decided to support Lisk.

You are the only one posting FuD because, let me guess, your ego is hurt since you weren't included in the foundations decision. Boohoo, grow up. You're a grown ass man, act like one.

[bitseedmike]

lisk owner is it true you own allot of XCR ? i see u investor and now look to bail cuz u lost money ? how much xcr will you and your friends convert for lisk . 10%? 15%? its nice u can dump how u like and nobody see who .



so new ico for failed project whitout no interest

you suckpuppet much ?
don't be a little pussy bitch, FUD with your own account like a man.

That is one of the Crypti founders who is internally pretending to support LISK, but is in reality very pissed off

None of the founders feel this way.

I hope Max and Olivier do have this much to convert so they have a substantial stake in this project as an incentive to see it through. Compared to traditional startups, the terms being offered to investors are very generous in what amounts to a second seed round. A typical startup in an incubator usually gives 4-7% equity for initial seed funding of $50,000, 3 months of workspace at the incubator, coaching, and exposure to the incubator's investment network. That is 1% equity per $10,000 and $600 worth of rent. A typical second funding round is comparable to Peter Thiel investing $500,000 in Facebook for somewhere around 10% equity. That is $50,000 for 1%. Founders typically try to retain 51% of the company to retain control. Max and Olivier are only keeping 8% of the distribution from the ICO. Even if they end up with 15% after a second round raising 800 BTC by adding their XCR conversion to the 8% reserved from the ICO distribution, this is still way below industry average for tech startups.

[poornamelessme]

How many BTC does it take to buy a 3 year old BMW or MBZ?  

Max needs to know this for his ICO goal setting.

See, now this just comes across as FUD/Trolling.

Valid criticisms of any coin should be welcomed. Comments like that one just become noise, and results in people discounting anything you say... including valid opinions.

Of course with the way the ICO is structured, I expect to see some FUD regardless, partially from angry XCR people, partially from those who want to see XCR people dump ... so they can pick up cheap coins to convert. But no reason to go the trolling route if you have real comments to make.

[Poly#Crypto]

*snip*

It's not representative of the Crypti Community.

Only one angry guy.

[Litoshi]

*snip*

It's not representative of the Crypti Community.

Only one angry guy.

Scammers leave clues.  Dilligent researchers can discover those clues and reveal the scam.

The most common clue is a name or location that is fictional, vulgar, or ridiculous.  

Have you done your research?

http://www.merriam-webster.com/dictionary/lisk

http://www.urbandictionary.com/define.php?term=Lisk

[Poly#Crypto]

...
The most common clue is a name or location that is fictional, vulgar, or ridiculous.
...

Oh really?! Currently this applies to you. Only to you. 

[stormia]

*snip*

It's not representative of the Crypti Community.

Only one angry guy.

There are many people who are angry about this, about being stabbed in the back. If you are a longtime supporter of crypti how can you not be mad about this?

[Kasandra]

I think you need to change the UI client in more ways to distiguish yourself from Crypti.

[Karen98]

Any way you can get Boris from Crypti on board?

[Forrest01]

Hi Max, I'm cryptiNeo delegate from Crypti..

I've just updated my Signature, just followed LiskHQ on Twitter..
Liked on facebook and subscribed to the newsletter..

Godspeed!!

[Sharky444]

Will the block time of 10 seconds remain?

[stormia]

So when Lisk runs out of funds what will it be forked to?

[rtrtcrypto]

  touche'

So when Lisk runs out of funds what will it be forked to?

[karmacoma24]

Have you done your research?

William, over the past 6-8 months your contribution to the foundation was very little, probably due to work commitments, etc.

So given your recent outbursts I'm quite surprised to see you now giving us your time.

Therefore, I would just like to make it clear to everyone, as we have the right to defend ourselves. Your recent portrayal of Max and myself is utterly wrong.

Our intentions are only good, and in no shape or form in the realm to which you speak of.

Thank you.

[Forrest01]

So when Lisk runs out of funds what will it be forked to?

good question!!