gramen
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Activity: 116
Merit: 10
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April 11, 2017, 07:01:13 AM |
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How you do that,collect such money in short time?
by negotiating with VC funds in advance, getting the partners to agree the deals, postponing the ICO date until they are all ready, and then hiding the hard cap from the 'open' market to snap shut this pseudo 'ICO' instantly (this was no ICO). this was a publicity stunt masquerading as an ICO. Anyone with a belief that the next web should be truly open and decentralised should shun this project. it's a trap. No shit.. that is like the way big banks run business! Just make a lot of noise with the promise to VC's that they get to sell into the marketcap when it develops to the top. It is like legal stealing. Projects NEM, CounterParty, or Internet of Coins.. They at least started with humble beginnings.  |
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jaekwon (OP)
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Activity: 70
Merit: 10
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April 11, 2017, 08:52:14 PM |
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by negotiating with VC funds in advance, getting the partners to agree the deals, postponing the ICO date until they are all ready, and then hiding the hard cap from the 'open' market to snap shut this pseudo 'ICO' instantly (this was no ICO). this was a publicity stunt masquerading as an ICO.
Anyone with a belief that the next web should be truly open and decentralised should shun this project. it's a trap.
The lead 5% and pre-contributor deals were the only ones negotiated. USD $1,329,472, for 16,856,718 ATOMs from 14 distinct individuals/entities. There were crypto-focused hedge funds in that list, but no VCs. We refused to sign or agree to anything else, and we had no other buyers "lined up". Going into the fundraiser open, we didn't know whether it would sell out as quickly as it did, or whether we'd even hit the $10M cap. We were prepared for all scenarios, and were all surprised by the outcome. If it weren't for the hidden-cap, it probably would have sold out even sooner. Good thing we had it! The only two people who knew the cap figure was me and Ethan. But hey, good for you for being skeptical. I wish we could have taken more funds and let more people in, but we really don't need any more funds to make this happen, and everyone including the team and our lawyers, wanted us to set a reasonable cap. I'm not sure what we could have done better in retrospect. Thanks for the support, everyone! - Jae |
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drays
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Activity: 2520
Merit: 1073
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April 12, 2017, 03:09:09 AM
Last edit: April 12, 2017, 03:44:09 AM by drays |
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Sold out too fast, practically 100% insta-bought by whales who are clearly going to manipulate the market, create FOMO, raise the price sky-high, then gradually dump on naive public. And this has nothing to do with the project itself - those are just market games without real ground.
Developers should have done something to prevent this situation, when they will have much smaller actual community, as there are small number of real investors.
Whether the project is good or bad, I wouldn't touch it, as this is going to be a trader manipulated thing. However, I guess it will be crazily pumped first, so if someone is into gambling and likes high-risk short-term trading, maybe its worth to buy, so you can dump higher (if you can catch the peak of the pump).
I personally would just avoid this for now, and could re-consider it in few months, after the dump, when price will be much less than ICO... If team actually delivers, it could raise back up then, but it will be a natural raise, not an artificial pump we are going to see now.
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... this space is not for rent ... |
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ecawyna
Sr. Member
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Activity: 294
Merit: 250
🌟 æternity🌟 blockchain🌟
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April 12, 2017, 03:19:45 AM |
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I like the hidden cap. It make people fomoed invest into it. lol  |
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benthach
Legendary
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Activity: 1764
Merit: 1000
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April 12, 2017, 06:23:27 AM
Last edit: April 12, 2017, 07:00:01 AM by benthach |
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Missed the crowd-sale,can we soon have it on exchanges please want to grab it fast ?
fools rush in fake ico to create FOMO this way it would make more money than the actual ico when market open. something like this happen before involving bitbay and Chinese exchange bter |
reddit btcwriter1 - twitter kingpininvestor
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bubbletea789
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April 12, 2017, 11:15:07 AM |
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haters are gonna hate.
just a few things that if you look closer you will see:
-Among the EEA companies/projects, cosmos (or atoms or tendermint tech) is the only thing beside ether itself that you can buy (at about 20M marketcap).
-Monax's Burrow was admitted to Hyperledger infrastructure. fyi, Burrow uses Tendermint tech.
Already that's some great exposure there.
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jwiz168
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April 12, 2017, 11:48:52 AM |
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What happened to the translation of introduction from cosmos whitepaper? Don't we have any incentives of doing such task?
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bitbitch
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April 12, 2017, 11:54:22 AM |
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by negotiating with VC funds in advance, getting the partners to agree the deals, postponing the ICO date until they are all ready, and then hiding the hard cap from the 'open' market to snap shut this pseudo 'ICO' instantly (this was no ICO). this was a publicity stunt masquerading as an ICO.
Anyone with a belief that the next web should be truly open and decentralised should shun this project. it's a trap.
The lead 5% and pre-contributor deals were the only ones negotiated. USD $1,329,472, for 16,856,718 ATOMs from 14 distinct individuals/entities. There were crypto-focused hedge funds in that list, but no VCs. We refused to sign or agree to anything else, and we had no other buyers "lined up". Going into the fundraiser open, we didn't know whether it would sell out as quickly as it did, or whether we'd even hit the $10M cap. We were prepared for all scenarios, and were all surprised by the outcome. If it weren't for the hidden-cap, it probably would have sold out even sooner. Good thing we had it! The only two people who knew the cap figure was me and Ethan. But hey, good for you for being skeptical. I wish we could have taken more funds and let more people in, but we really don't need any more funds to make this happen, and everyone including the team and our lawyers, wanted us to set a reasonable cap. I'm not sure what we could have done better in retrospect. Thanks for the support, everyone! - Jae Thanks for the communique. Skepticism works. you posted  Why the *hidden* cap? |
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anirgu
Legendary
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Activity: 1148
Merit: 1000
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April 12, 2017, 11:55:35 AM |
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Missed the crowd-sale,can we soon have it on exchanges please want to grab it fast ?
fools rush in fake ico to create FOMO this way it would make more money than the actual ico when market open. something like this happen before involving bitbay and Chinese exchange bter Do you mean to say it is similar to Qtum,but what sources do you have to confirm the same? |
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bubbletea789
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April 12, 2017, 12:07:04 PM |
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i think the hidden cap was meant to "deter"/"scare off" whales who wished to gobble up the whole thing in minutes.
Even so, many people (whales included) were willing to buy in (fomoing) despite the "unknown (but) reasonable cap" at the time.
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m4nki
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April 12, 2017, 04:45:19 PM |
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Just learned about this today. Following the progress.
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Pipesnake
Legendary
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Activity: 1012
Merit: 1000
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April 13, 2017, 07:30:23 AM |
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Do we have any information about when the token will be available on any exchanges?
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irukandji
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April 16, 2017, 11:41:00 PM |
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Is there a crowdsale? Or is it already over?
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irukandji
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April 16, 2017, 11:42:08 PM |
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How you do that,collect such money in short time?
by negotiating with VC funds in advance, getting the partners to agree the deals, postponing the ICO date until they are all ready, and then hiding the hard cap from the 'open' market to snap shut this pseudo 'ICO' instantly (this was no ICO). this was a publicity stunt masquerading as an ICO. Anyone with a belief that the next web should be truly open and decentralised should shun this project. it's a trap. Not another pretend ICO/Crowdsale?  |
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cryptonia
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April 16, 2017, 11:45:23 PM
Last edit: April 17, 2017, 08:24:32 AM by cryptonia |
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Can someone please clone this project so we can have a real community crypto currency.
The people behind this project need us. They need a network of people using this. But they just want to get rich and let their mates get rich and hope that we, the people, plug in and support the network.
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Shy_Bladder
Newbie
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Activity: 37
Merit: 0
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April 17, 2017, 06:10:48 PM |
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Blocknet is almost fully developed and trade for a price over 4 times lower than the ICO price of COSMOS. Go figure.
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RobbWorld
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April 18, 2017, 03:14:32 PM |
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Blocknet is almost fully developed and trade for a price over 4 times lower than the ICO price of COSMOS. Go figure.
I don't know anything about Blocknet, but if COSMOS is same as Blocknet it's not an argument. How are things going with the people and company connections, budget and other important things? Any crypto project needs adoption, promotion. And the team which developing COSMOS, as I know, is very powerfull and famous command and now they have a big fund. Check Tendermint. |
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bitbitch
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April 18, 2017, 07:33:56 PM |
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i've no doubt that there will be many blockchain protocols, but i'm doubting that more than a handful of them will be at all important economically. economic market theory and the power law of distribution seem to hold true even in a decentralised world. 99% of protocols will accrue insignificant value at the application layer. would the handful of major protocols choose a Cosmos solution?
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