Disclaimer: I want to start by saying that you should probably buy DAPS because you're going to make a lot of money off of ignorant people that will FOMO just because CoinMarketCap shows green numbers next to the coin. Need proof? Look at the DAPS discord where everyone is having orgasms over the increase in price despite the fact that it has extremely low volume, and thus, is being manipulated by few players. People don't pay attention to these things, they just see green and buy. For this reason, buy cheap and take profits from the ignorants. Also, I'm not a financial advisor, so there's that.
Now, with that disclaimer out of the way...
Let me get this straight, you're premining 50 billion coins initially, keeping 1 billion coins upfront, and then collecting 5% reward per 1 minute block time? You've taken premining scams to a whole 'nother level.
The roadmap is honestly a pathetic attempt at trying to look like you guys have any clue as to what you're doing. It's supposed to take an entire year to roll the coin out, create a website, swap everyone's coins, advertise, and list it on exchanges? Really? And for that you get a massive premine and infinite block rewards? According to the DAPS twitter, some type of website is supposed to be released this week, so there goes some items off Q2. What a joke.
You guys are literally winging it as you go with some grandiose mixture of ideas that don't even go with each other. You're trying to be a privacy coin, but also a masternode coin, and somehow a charity coin, and on top of that some type of payment network? Can you make up your mind, or is this all part of the overall scam?
Michael Larry, a.k.a bitcoinbabys, advertised the DAPS project as some type of company, where's he's the CEO. That's interesting, because he's also the person running StrongHands, another scam coin that has recently gone into a bit of a funk after some people called him out on the StrongHands reddit. I message'd those people on reddit based on their claims, and they said they have already placed an inquiry with the CFTC, so good luck with that if they end up getting to it after all of the ICOs that they're cracking down on. In the meantime, there's a lot of scam money to be made, so I'm sure you guys will relish that opportunity.
Peepcoin-DAPS is a community ran project. Bitcoinbabys is the leader of the community as selected by the group, and there is no "head leader" of Peepcoin or DAPS. I would be referred to as the coordinator of many aspects of this project, as I saw the idea for DAPS from their discussions at the beginning and turned it into a true project with the ability to actually happen. I make my role in that clear, in my personal disclaimer on the transition thread. We are working to turn this into a professional project and I appreciate your interest in protecting the investors and community of both past Peepcoin investors and future DAPS community members, so there are alot of aspects that are being worked on to make this into a truly sustainable project long term.
We are rolling out an initiative called DAPSCORE with the website release. This is inspired directly by the structure of Bitbean's BEANCORE program, which I believe was integral to the quality and pool of people they had consistently for years working on their project, as a team. This DAPSCORE program is up to the decision of the community first and foremost. What will this mean for us? That there will be a "structure" setup for this coin and that it's known nobody is "the" leader of this project, or organization therein. We're a defacto volunteer operation and I have tried to shift the branding to match that (no CEO titles, etc). If you'd like to envision more about how this future structure of community-ran governance will look like, I suggest you read this
http://www.bitbean.org/beancore.html as it will give you a relatively good idea of what we want to emulate with it.
I believe long term that helping people should be our goal, even if it's a privacy coin, there can still be an organization of volunteers who work with and for charities and such. It's an idea in development, and I want to see it work. The work of actual code and technical progress can be handled by DAPS Core team, while the DAPS Foundation can handle aspects such as checking on airdrop participants, ensuring that people who swap are taken care of properly if anything happens, outreach, and any number of tasks. Do you think it's a bad idea? Please tell me why. I think that having a foundation setup shows that we're not here to enrich ourselves long term. It also dovetails into the long term airdrop management. If you have better ideas tell me, I just don't think people will want us to stay private and the team who brought it up to stay in the shadows forever.
On top of that, we have secured many very good coders to our project, and we have two groups. One is working on the wallet upgrades in a unified trunk for Peepcoin, as DAPS is being worked on currently. It will be a very ambitious project in terms of chain features and community organization, but I believe we have alot of the critical parts in place for that to work including a highly motivated core of community with various talents that are offering, with more showing up by the day. I make it clear this is everyone's project, not mine, yours , or anyone's. I believe that your fears over this issue will be gone when you see us upgrading the wallets and releasing, but I don't have a timeline for that. Probably about 4 weeks.
And on the idea of the premine or terminology of it, that's something that we're not decided yet. For bitcore, it was a full 100% premine, yes, and the coins can in theory still be used by the devs to dump. What I envision is an automated method that does not allow any developer or otherwise interaction with said swap fund.
What I will not allow, is the coin 'premine' (mostly just a virtual fork of the Peepcoin supply, technically), which will be a 1:1 mirror of the current Peepcoin supply at the moment it launches, to be used for ANYTHING BUT swapping, and then when the period is over, a burn, a hard snapshot, something. This is an idea that is still being worked on right now. The implementation of the swap itself is the most important part for the exact reason you stated: it looks like a premine, because it "is", even if it won't be in the control of the people who actually run the genesis block. The only coins in the developer fund will be the 1 billion. That's it. The other will be secured in a way that ensures no outside interaction is possible outside of swapping coins. I promise this with all my personal honor. I have never been in this industry to scam anyone, nor to let a project bleed and become irrelevant. I hope I can prove to you that we're sincere with my post here, but I just implore you to ask me more. We have the actual roadmap coming out this week with the website, a culmination of a lot of really hard thinking and decisions about long term health of coins. We will make sure that there is a trustless system to prove that this fund is not in any way ours or usable. I will ensure this, thanks to your concerns.
On the topic of the 5% founder fee, I do agree I wish it wasn't needed. But unfortunately in recent crypto era, development simply needs a war-chest to get listed on anything but the lowest-tier exchanges. And that is an unfortunate thing since I remember when it cost less than 2,000$ to list on cryptopia. I think it's a fair balance as the premine from the previous developer is being nullified and replaced with a development payment scheme that actually incentivizes long term value creation as opposed to dumping and running. I've been here a while, I know exactly what you're talking about man. I have helped mould this project into what could be an all-star idea by avoiding alot of the pitfalls previous coins in this area have made (development staking a premine, being a huge thing, that will not be done!)
What I hope is that this coin can show that no matter what community it is, that if you have an idea and work hard on it, that you can do it. If you have any concerns or want to nitpick this post go ahead, I'm being as honest with you as I can. I wouldn't stake my reputation on a project like this if I wasn't as sure as I am about it helping people. Please let me know if I actually helped your concerns or didn't.
I activated self moderating and a new thread at the request of the people who made the idea for DAPS so that we could address the issue of people exploiting such a transition to phish posting fake links, like happened here before. I hope that's reasonable.
