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

[MalReynolds]

Here's a list of coins accepted by Shapeshift, and the approximate (to six decimal places!) maximum single transfer size in BTC.

2.502030      Peercoin
2.501523      Maidsafe
2.501324      Monero
2.500738      Blackcoin
2.500727      Nubits
2.499849      Counterparty
2.498135      LiteCoin
2.493198      Dash
2.481237      BitCrystals
2.480033      Startcoin
2.473888      Ether
2.452955      Dogecoin
2.101428      StorjcoinX
1.896001      Clams
1.890705      GEMZ
1.823319      BitcoinDark
1.732992      Digibyte
1.469103      Namecoin
1.239025      Feathercoin
1.033564      Tether
0.831740      Reddcoin
0.588209      Monacoin
0.564457      Shadowcash
0.525528      Mintcoin
0.479496      Mastercoin
0.383556      Unobtanium
0.322049      Potcoin
0.298007      Vertcoin
0.184405      FlorinCoin
0.088511      Novacoin
0.049531      Vericoin
0.005968      Arch
0.000027      Hyper
(offline)      NXT
(offline)      BitShares
(offline)      Ripple
(offline)      BitUSD
(offline)      Stellar

[MalReynolds]

XCR does not receive a bonus for earlier conversion. Since XCR already represents an existing share in the distribution regardless of outcome regardless of when it is converted, it makes sense that it doesn't receive a bonus.

just when i thought i was starting to understand the ICO....

Yeah, I don't understand that statement either.  

To clarify, the only practical alternatives for XCR are to convert to Lisk or sell it for another coin, most notably, Bitcoin. It is, in a way, a sharedrop for for the existing investors who funded creating the base technology for Lisk but flexible in that conversion results in a stake based on how much additional funding is received instead of being a fixed percentage. Maybe it could be argued that XCR holders should receive the bonus as well since they are foregoing the option to sell instead of holding to see how the ICO pans out, but the sale price can be expected to increase as the ICO progresses and the BTC bonuses diminish if there is a strong interest in the ICO throughout the period.

I think it's all much simpler than your explanation.   A BTC/Shapecoin bonus level structure for the ICO is nothing more than free advertising.

If you know about this ICO and you are going to participate in it with BTC/Shapeshift coin, you will do so in the first week.   This means there will be a big pop in real money donations up front that will make news.  Early news coverage of how well the Lisk ICO is doing makes other new people aware of the ICO, and these newly informed people will show up in week two.  Another pop, more news coverage, more people show up.  

Without the BTC/Shapeshift rewards, everybody holds back until the end to see what others are going to do, the ICO looks slow, no news coverage, no newly informed people brought in in weeks two and onward.  

There's no reward structure for XCR donors because XCR people shuffling from one version of their own coin to another version of their coin isn't really true money flow and therefore isn't news.   The bonus structure for BTC/Shapeshift doesn't hurt XCR holders and so is irrelevant to them.  With a fixed and fair market value of 1300 satoshi conversion rate for XCR to equivalent BTC, a XCR holder leaves the ICO with the same value of holdings that he has before the ICO.  If he gets more Lisk than Crypti donated (because fewer BTC donors showed up), the value of the Lisk goes down to compensate.  If he gets fewer Lisk than Crypti donated (because more BTC donors showed up), the value of his Lisk holdings go up to compensate.  

The important thing is not for XCR people to get a bonus.  It is for them to not lose or gain money relative to BTC/Shapeshift donors as a result of the ICO.  This is accomplished.  It is a good and fair ICO to all parties.

The reward structure is free advertising, nothing more.  85M Lisk and only 85M Lisk get handed out at the end regardless.  Max is very talented in public relations, and the ICO reward structure is a good example of his thinking.

[ryepdx]

Testing signature. Haven't read your whitepaper yet, but will be doing so soon. Am intrigued.

[ryepdx]

Just read the whitepaper. Am a little disappointed, to be honest. It's basically a copy of the Crypti paper, and it's very light on details. If you're going to have an ICO, I want something more in-depth and technical than that. I recognize that I can read your code, as it's on Github, but that's not usually my preferred method for coming to an understanding of a complex system. My time is short these days, and digesting code tends to take much longer than understanding a higher-level description.

I bought into the Ethereum presale because every detail had been clearly exposed in its white and yellow papers. With Lisk, there are too many undisclosed details at present for me to feel very comfortable about its future right now. Maybe if I read the code and compare it to Crypti's... but that's a time-consuming proposition.

[animalroam]

Added my signature  .

I love the implementation of a marketplace for decentralized apps in JS! I will be looking forward to the ICO; continue the great communication.

[BMOO]

Supporting thos project !!

[mikhael]

Lisk is one of the most interesting project this year, would be glad to take part. 

[bitseedmike]

XCR does not receive a bonus for earlier conversion. Since XCR already represents an existing share in the distribution regardless of outcome regardless of when it is converted, it makes sense that it doesn't receive a bonus.

just when i thought i was starting to understand the ICO....

Yeah, I don't understand that statement either.  

To clarify, the only practical alternatives for XCR are to convert to Lisk or sell it for another coin, most notably, Bitcoin. It is, in a way, a sharedrop for for the existing investors who funded creating the base technology for Lisk but flexible in that conversion results in a stake based on how much additional funding is received instead of being a fixed percentage. Maybe it could be argued that XCR holders should receive the bonus as well since they are foregoing the option to sell instead of holding to see how the ICO pans out, but the sale price can be expected to increase as the ICO progresses and the BTC bonuses diminish if there is a strong interest in the ICO throughout the period.

I think it's all much simpler than your explanation.   A BTC/Shapecoin bonus level structure for the ICO is nothing more than free advertising.

If you know about this ICO and you are going to participate in it with BTC/Shapeshift coin, you will do so in the first week.   This means there will be a big pop in real money donations up front that will make news.  Early news coverage of how well the Lisk ICO is doing makes other new people aware of the ICO, and these newly informed people will show up in week two.  Another pop, more news coverage, more people show up.  

Without the BTC/Shapeshift rewards, everybody holds back until the end to see what others are going to do, the ICO looks slow, no news coverage, no newly informed people brought in in weeks two and onward.  

There's no reward structure for XCR donors because XCR people shuffling from one version of their own coin to another version of their coin isn't really true money flow and therefore isn't news.   The bonus structure for BTC/Shapeshift doesn't hurt XCR holders and so is irrelevant to them.  With a fixed and fair market value of 1300 satoshi conversion rate for XCR to equivalent BTC, a XCR holder leaves the ICO with the same value of holdings that he has before the ICO.  If he gets more Lisk than Crypti donated (because fewer BTC donors showed up), the value of the Lisk goes down to compensate.  If he gets fewer Lisk than Crypti donated (because more BTC donors showed up), the value of his Lisk holdings go up to compensate.  

The important thing is not for XCR people to get a bonus.  It is for them to not lose or gain money relative to BTC/Shapeshift donors as a result of the ICO.  This is accomplished.  It is a good and fair ICO to all parties.

The reward structure is free advertising, nothing more.  85M Lisk and only 85M Lisk get handed out at the end regardless.  Max is very talented in public relations, and the ICO reward structure is a good example of his thinking.

Both are valid ways to look at it, from a financial perspective and what would appeal to an investor, and a marketing perspective, to encourage participation. In this case, the ICO plan happens to satisfy both.

[*Sakura*]

Hi, everybody!

Interesting stuff. I am on board. Sig is updated. Good luck!

[Emerge]

Glad to see the developments of Lisk are going quickly as promised

[520Bit]

I am keeping an eye on this.

[LiskHQ]

Wow, the interest exploded over night! We have over 200 Twitter followers now.

I will answer every question, even though MalReynolds and others already did an awesome job answering questions. Thank you very much!


1. Week:
XCR: 1300 satoshis
BTC & every ShapeShift coin: 15% bonus (1 BTC count as 1.15 BTC)

2. Week:
XCR: 1300 satoshis
BTC & every ShapeShift coin: 10% bonus (1 BTC count as 1.1 BTC)

3. Week:
XCR: 1300 satoshis
BTC & every ShapeShift coin: 5% bonus (1 BTC count as 1.05 BTC)

4. Week:
XCR: 1300 satoshis
BTC & every ShapeShift coin: 0% bonus (1 BTC count as 1 BTC)

The ICO information is not clear enough.

Can everyone just buy 1 share of a fixed size? Or 1 share which size depends on the amount of sold shares?

Or can you invest as much as you like? If so: is it fixed how much share you get for your money beforehand or does this depend on the total amount raised by the ico?

Thanks

You can participate with as much BTC/XCR/ETH.. as you want. At the end we calculate the total amount which came together and split the LISK though all participants, dependent on the amount they exchanged. Someone who exchanged 2 BTC will get twice as much than someone who exchanged 1 BTC only.

can someone please ELI5 "Turing-Completeness"

thanks

Turing Completeness = It's possible to write any dapp you want. Theoretically there are no limits.

do XCR contributors also get the bonuses during the ICO?

No. XCR contributors will get a fixed (but very good) exchange rate of 1300 satoshi per XCR.

Do you have any specific use cases you want to target with LISK?

Yes! We specifically target custom blockchains for any use-case, dapps for the Internet of Things and decentralized games. These are huge areas worth billions. However, we will also take a look at the market and see what people are developing. If there are further use-cases for which Lisk is suitable (and there are unlimited of those!), we will adapt.

So for the people who want to convert their XCR into LISK it would make most sense to do so in the last week of the ICO, right?
Because this would give them exchange rate of 1300 satoshis per XCR which would not be available in the first 3 weeks because of bonus offerred at that time?

During the whole time you get the same offer for your XCR. It doesn't really matter when you exchange. Because of our 4 weeks return policy (XCR only!) you can participate at a any time.

Just read the whitepaper. Am a little disappointed, to be honest. It's basically a copy of the Crypti paper, and it's very light on details. If you're going to have an ICO, I want something more in-depth and technical than that. I recognize that I can read your code, as it's on Github, but that's not usually my preferred method for coming to an understanding of a complex system. My time is short these days, and digesting code tends to take much longer than understanding a higher-level description.

I bought into the Ethereum presale because every detail had been clearly exposed in its white and yellow papers. With Lisk, there are too many undisclosed details at present for me to feel very comfortable about its future right now. Maybe if I read the code and compare it to Crypti's... but that's a time-consuming proposition.

We know of that problem. We planned to re-do the white paper this week. This evening I will post the new weekly plan to Trello, so there you will get more information. I think by Saturday we will have the white paper enhanced greatly. We will also write down our vision, like a decentralized "marketplace" for node owners. At which they can add themselves as forgers for sidechains and earn a living by securing blockchains. I mentioned this in an interview earlier.



Today I'm on a management training program! Therefore I will only be available in 10 hours again. Olivier is online and can answer questions from time to time. The week plan will come online this evening!

[Emerge]

Alright this is great!
Can't wait for the actual ICO to come already.

[ryepdx]

Any news on who is going to be handling the escrow? Any plans to release the terms of escrow ahead of the ICO?

Don't jump into this half-cocked.

[m4nki]

Interesting!

Is LISK's headquarter in Aachen?

[LiskHQ]

Any news on who is going to be handling the escrow? Any plans to release the terms of escrow ahead of the ICO?

Don't jump into this half-cocked.

We will publish more information about our escrow partner this week. We will 100% release the escrow terms before the ICO starts.

Interesting!

Is LISK's headquarter in Aachen?

I'm sitting in Aachen, Olivier in the UK. If you want to meet up, just write me in private.

Where we will sit later with Lisk depends on how much we can collect in the ICO.

[fuze0000]

Good morning from the East Coast of the United States!

I hope the community is doing well.

Go LISK GO!

[Emerge]

Interesting!

Is LISK's headquarter in Aachen?

I believe Max is stationed there, but Lisk seems to be in
an early incubator phase so they don't have an office just yet. They're pretty new to this startup model too, but they're managing it pretty okay for starters.

Good morning from the East Coast of the United States!

I hope the community is doing well.

Go LISK GO!

Good evening from the Philippines mate!

[digitron]

Mahlzeit aus Würzburg 

[qwed]

Hello, Community. I join you, if any of you do not mind