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

[iudica]

I have a question regarding the Lisk Terms of Service agreement, Section 4 (Your Responsibilities), 4.2 "End User Violations":
"You are responsible for End Users’ purchase and use of LISK. "

Taken from: https://docs.google.com/document/d/1YIFQR0Ob08tgAHwUngn1NfQGE23jtsgsRTUq-OQvT80/edit?pref=2&pli=1#

So, this means that if I sell a portion of my Lisk to someone else that may be a total stranger to me, that I will be responsible for whatever this person decides to do with his newly acquired Lisks?  If so, will I still be responsible if I sell the Lisks at an exchange like Poloniex and then someone else purchases the Lisk through Poloniex?

Maybe Axel Hellinger (iudica) can clarify it.

In my opinion, if you sell the LISK they are no longer yours so the responsibility falls to the new owner. Unless you knew he was using the LISK for something really really bad? I'm not sure, it all comes down to lawyer vs. lawyer mumbo jambo.

Concerning the Poloniex transaction, I find it highly unlikely you will be held responsible for anything the person decides to do with the LISK.

I wasn't involved in the ICO terms, so I can't clear it 100%.

Normally, such terms are used, that you can't bypass the ICO terms. Because the terms are part of a treaty between you and Lisk. But not between Lisk and a 3rd person. Such terms make the glue then. They demand from you, that you sell the Lisk under the same rules as you bought them.

[LiskHQ]

hello .i have a pair of questions..
1.. i already bought some lisk ,2 times, s i get 2 adresses and 2 public keys.
i understand that i can not create my wallet yet?should i keep those files  in a safe place?when it will be possible t create a wallet?

2.bountyes,, i liked in facebook , followed in twiter and give my email for updates and news .
when and how will i get my bounty coins

thank you  in advance gentlemen

1.
Yes, you have to keep the passphrase safe. It represents your wallet.


2.
We will contact you after the launch of Lisk.

[dzarmush]

How will the Lisk of the core team be handled? Is it split between you two, or will it be split under the full team? How much will be sold on the market, and when?
Additionally, are there plans for a bug bounty program?

It will be split between Oliver and me. That means 4M to Oliver, 4M to me. You will be able to see the addresses on the blockchain explorer. How much and at what time (or if) we will sell, will depend on many things. But I can tell you that I will hold my LISK for a long time. We have years to come in which we can develop the platform, why should we sell after X months already?

If you plan on holding long term, how about creating a contract that release a percentage of your LISK based on specific conditions? Some factors could be time and market cap.

I agree, this would be an excellent strategy for the developer funds.

+1 vote for putting 8% Devs share under a “scheduled release” contract.


There could be dire ramifications of trusting 8% of the entire Lisk market cap in the hands of 2 guys without any contractual or accountability restriction.

Lisk is run by 2 guys + 1 lawyer only, so you can't really compare it to, Facebook who had 4000+ employees & an army of outside lawyers & underwriters when it IPO'ed in 2012.

Even wall street IPOs have contractual lockup periods of 90 to 180 days to prevents employees & insiders from selling their shares.

Lisk core team doesn't tell you what to do with your share. Why the fuck you think you can tell them what to do with their share? ICO terms was clear. Take it or leave it.

[TomArayaSlaya]

Hey guys, I noticed there was no Avatar for it yet so I took the freedom to create one myself real quick, feel free to use it if you like: http://imgur.com/UbeUSrH

Ps. Although I must say I think the whole logo should maybe be reshaped, or reworked and some simpler that people remember more easy.

Nice! Looks great.  

I'm not understanding how will you monetize all those crypti, 36M crypti it's a really large amount to sell. Or are them yours from the crypti project and this is a nice way to convert them in something better, lisk in this case without make it clear....

They probably wont monetize it, it'll be really tough selling those Crypti once the Lisk platform is out. Let's see what happens.

If you want to learn why they took Crypti though, there's a short explanation on the FAQ's

https://lisk.zendesk.com/hc/en-us/articles/207134329-Why-do-we-accept-XCR-

ok thanks, it's just like a 1:1 change, but will they burn those crypti? or they will try to sell them?

[CryptoMaik]

With this amount of ico funds. it can be a great success !!

I just hope that the LISK team not to try to do everything themselves. Start a company, hire good staff for a good base and build the coin from a business perspective.

Facebook has not become great by Mark, but by his employee team led by Mark.

[dzarmush]

Hey guys, I noticed there was no Avatar for it yet so I took the freedom to create one myself real quick, feel free to use it if you like: http://imgur.com/UbeUSrH

Ps. Although I must say I think the whole logo should maybe be reshaped, or reworked and some simpler that people remember more easy.

Nice! Looks great.  

I'm not understanding how will you monetize all those crypti, 36M crypti it's a really large amount to sell. Or are them yours from the crypti project and this is a nice way to convert them in something better, lisk in this case without make it clear....

They probably wont monetize it, it'll be really tough selling those Crypti once the Lisk platform is out. Let's see what happens.

If you want to learn why they took Crypti though, there's a short explanation on the FAQ's

https://lisk.zendesk.com/hc/en-us/articles/207134329-Why-do-we-accept-XCR-

ok thanks, it's just like a 1:1 change, but will they burn those crypti? or they will try to sell them?

Why would they burn them? Do they look like some crazy unstable persons? Where such stupid idea comes from anyway?

[StinkyLover]

With this amount of ico funds. it can be a great success !!

I just hope that the LISK team not to try to do everything themselves. Start a company, hire good staff for a good base and build the coin from a business perspective.

Facebook has not become great by Mark, but by his employee team led by Mark.

+1

If they don't it will go the same way as previous projects

[tuvok007]

I have just done "generate keys" thing in my exchange part and downloaded them as txt file. Cool. I"ll store them now on my C drive,D,E,F,USB stick and my phone !!!

[LiskHQ]

I have just done "generate keys" thing in my exchange part and downloaded them as txt file. Cool. I"ll store them now on my C drive,D,E,F,USB stick and my phone !!!

Make a picture and print it.  

[tuvok007]

I am out of toner so I"ll put them on a piece of paper and I"ll store them in my pocket. Haha Lol but also true.

[MalReynolds]

+1 vote for putting 8% Devs share under a “scheduled release” contract.

Lisk core team doesn't tell you what to do with your share. Why the fuck you think you can tell them what to do with their share? ICO terms was clear. Take it or leave it.

+1 on no retroactive mods to the ICO terms.   The donations of BTC and XCR that have been made to Lisk are effectively gifts to Max and Olivier for which you have no right to expect anything in return.  If you suddenly make them "not gifts" subject to "contracts" then you are suddenly opening up a HUGE legal Pandora's Box.  We do not want to go there.  

Plus, I am no lawyer but it seems to me that a true legal contract is not possible here on any topic.  Max is in Germany.  Olivier is in the UK.  Pretend for a minute they did sign a scheduled release contract and then dumped 8M Lisk on April 1 anyway.  Now what?  What court are you going to go to and adjudicate this so-called contact you want? The Court Of The Internet?

Practically, what you want is a scheduled release "pledge".  Max has said he is going to hold his Lisk for a long time.  That is the pledge you are looking for.  You have what you want!

Now it is time to just sit back and watch Max's actions to see if he is a man of his word.

 

[starik69]

What is the difference between "keys" and "passphrase"?
This confuses me a lot

[rtrtcrypto]

Ok, the wording of all of this sounds awful. This sure as hell better not be "gifts", which would have even worse tax implications than "software" or even "securities" as far as I am concerned.
Also, please stop pretending that their geographical location is a legal barrier - that is absurd. We have their names and location, it would be trivial to contractually lock them into some sort of agreement - not sure it would be wise to do so, but it would certainly be possible. (not sure it would be worth the time and money to do it properly)

**EDITED**

+1 vote for putting 8% Devs share under a “scheduled release” contract.

Lisk core team doesn't tell you what to do with your share. Why the fuck you think you can tell them what to do with their share? ICO terms was clear. Take it or leave it.

+1 on no retroactive mods to the ICO terms.   The donations of BTC and XCR that have been made to Lisk are effectively gifts to Max and Olivier for which you have no right to expect anything in return.  If you suddenly make them "not gifts" subject to "contracts" then you are suddenly opening up a HUGE legal Pandora's Box.  We do not want to go there.  

Plus, I am no lawyer but it seems to me that a true legal contract is not possible here on any topic.  Max is in Germany.  Olivier is in the UK.  Pretend for a minute they did sign a scheduled release contract and then dumped 8M Lisk on April 1 anyway.  Now what?  What court are you going to go to and adjudicate this so-called contact you want? The Court Of The Internet?

Practically, what you want is a scheduled release "pledge".  Max has said he is going to hold his Lisk for a long time.  That is the pledge you are looking for.  You have what you want!

Now it is time to just sit back and watch Max's actions to see if he is a man of his word.

 

[punkrock]

What is the difference between "keys" and "passphrase"?
This confuses me a lot

Passphrase = Private Key of an account = twelve words foobar bla english obama anejo sky dog butter chili india
Keys / Keypairs = Private and public key of an account

[entertainment]

SCAM coin

Someone must say the true. 8% distributed for free to two developers? What a joke.

[lisker]

The problem with one Lisk already worth 0.014$ is that a x10 or x100 is less likely than if it were worth 0.0014$.

[TomArayaSlaya]

The problem with one Lisk already worth 0.014$ is that a x10 or x100 is less likely than if it were worth 0.0014$.

it's not that hard for a coin with a 3k btc market cap, reach 1 or 2 $ or more

[TomArayaSlaya]

SCAM coin

Someone must say the true. 8% distributed for free to two developers? What a joke.

the problem is not only that 8% but even the enormous amount of btc the project is rising...or this is the biggest scam ever or it will moon like no one

[dzarmush]

The problem with one Lisk already worth 0.014$ is that a x10 or x100 is less likely than if it were worth 0.0014$.

it's not that hard for a coin with a 3k btc market cap, reach 1 or 2 $ or more

Ethereum is a perfect example. From 30K btc to 2.2M btc.

[lisker]

The problem with one Lisk already worth 0.014$ is that a x10 or x100 is less likely than if it were worth 0.0014$.

it's not that hard for a coin with a 3k btc market cap, reach 1 or 2 $ or more

Yes that's true. I guess it's more a psychological matter than a factual one.