Ascendancy IPO Turned Into a Scam - Investigation in progress

[cyberspacemonkey]

I have a question, is this a Lisk clone? I just hope this doesn't turn out to be another "RISE".

Cyberspacemonkey,

Ascendancy is not a Lisk clone, we have discussed this with many other people that have asked the same question.
Our plan for Ascendancy is to make it easier to use by the average person along with developing faster and more efficient algorithms in order to make the Ascendancy Framework work better.

If you'd like to discuss more about Ascendancy and how we plan on achieving these goals, you're welcome to Join our Slack.

Thank you,
Andrew Penn

I just joined the Slack channel, thanks for clarifying.

[jacaf01]

I have a question, is this a Lisk clone? I just hope this doesn't turn out to be another "RISE".

I think this is the main issue for this project, people are finding it difficult to differentiate it from Lisk-like project, the team need to work to correct this assumption.

[AscendancyTeam]

I think this is the main issue for this project, people are finding it difficult to differentiate it from Lisk-like project, the team need to work to correct this assumption.

Jacaf01,

We have been constantly assisting the communitty in differentiating Ascendancy from Lisk.
If you'd like to have an in-depth discussion on it, you can Join our Slack.

We're always willing to speak with members of the community on any issues that they see with Ascendancy.

Thank you,
Andrew Penn

[nelson4lov]

I won't say the ascendancy IPO is having a bad start. Although Everything is a bit slow at the moment but I know they'll pick up in due time. And Like the Team, I'm optimistic that the IPO target will be met and exceeded.

[kellendil]

Only 2 btc collected for the İPO. Doesnt look good... And most of the funding happens on the first day so. Lets see what will happen.

[DarkStar_]

Only 2 btc collected for the İPO. Doesnt look good... And most of the funding happens on the first day so. Lets see what will happen.

Not really. Because our early investor "bonus" lasts for a week, some large investors are (probably) waiting till Thursday as people will see not much BTC has been invested, and decide to not invest, so they can get more ASC than others, from their early investments. It's a bit slow right now, but all of the team expects it to pick up as we near the end of the week.

[btvGainer]

Hi i have completed the Hindi translation and have posted it here https://bitcointalk.org/index.php?topic=1766452
Kindly update the op with this link.Thanks

Hi! Check the Translation List here to see what has to be fixed. We will also have to verify the quality of the translation itself before accepting.

Sincerely, Axel Karlsson.

Translated all remaining part also as required.I don't know which bbcode am I supposed to fix.I am not good at these bbcode but I will try and fix it if I am guided in this regard.Thanks

Try copying the BBCode from our ANN, and putting in the correct image links for each section. If you still can't figure it out, send me a PM and I'll help you in the morning.

im glad Joel didnt garnered enough trust in the forum 

Okay then...?

Yes I have copied all the codes from your ANN thread and only replaced the images link with translated images.I have sent you pastebin link of the thread I have created,kindly check where is the mistake and I will fix it.
Thanks for the help.

[Velenar]

For the whitepaper's emphasis on user-friendliness, it is ironic that a relative newbie like me had to also read a bunch of thread pages to finally deduce the apparent intended purpose of Ascendancy, beyond a very vague goal of helping people create decentralized applications.

(Imagine if someone said their business plan was simply "to create applications": You'd ask what applications, why, and how, in which market sector, with what advantages over competitors and alternatives).

Apparently Ascendancy's actual purpose can be summed up as: kind of like LISK but supposed to be more user-friendly and modular, to whatever degree that matters, also somehow more efficient

Lisk is a large $16 million market cap coin, out for a long time.  Yet, as near as I can tell at quick glance, nobody has so far ever developed a decentralized application on it that is actually functional with real users, beyond their brief list of concepts and prototype ideas.

I'm pretty sure, if that is accomplished in Lisk or another decentralized application framework like hypothetical Ascendancy, the pioneers will be groups of experienced programmers, not utter casual newbies.  Yet, along with a silly unprofessionally irrelevant quote bashing U.S. math scores compared to other countries, Ascendancy's whitepaper talks about target users for whom "cryptography is a scary word" because "they associate it with mathematics."  Those are not the people going to be creating some of the world's first dApps anyway.

The actual example applications in the whitepaper seem to be what would not be tried by mere newbies, so, if user-friendliness is a particular advantage obtained, it would only be user-friendliness by the standards of a tool built for programmers or close to it.

One example application is a "fully featured cryptocurrency in a separate container."  That possibly means helping some users create a new coin or token, in a more customizable manner than just an Ethereum token or just paying a fraction of a Btc to a coin creation service like Creatio.  Having a market niche of large enough size is unknown, particularly as I know Creatio is currently bringing in only around a bitcoin a month in net service buys (other than cycling Yobit bots and speculators).

Another example Ascendancy application is creating a "website/blog," which is presumably cryptocurrency-related in some unspecified manner.  A high-end interpretation would be something heavily cryptocurrency-based and aimed at taking on the likes of Wordpress or Steem, but it seems to rather be in the "simple" section of the list.  So maybe it just means adding some kind of crypto payment widget to a website otherwise unrelated to crypto.

But nearly all of this has to be deduced or wildly guessed, as the whitepaper is mainly just vague.

To have even a chance at obtaining anywhere close to 480 Btc, drastic measures would need to be taken, probably including an improved whitepaper and some working example of something, before the end of the ICO.  You're presently asking for a half million dollars with a whitepaper less refined than some college essays.  If having seen enough prior ICOs, even the fact that this is only a 18-page thread is a red flag warning for chance of failure at drawing enough community interest for a goal that ambitious.

As a possible would-be investor, I'd be happy to be proven wrong if it means a way for me to make money, but neither the current whitepaper, nor apparently previously unresearched naivety about plausible ICO results, give any confidence that Ascendancy has a well-developed business plan.

[AscendancyTeam]

For the whitepaper's emphasis on user-friendliness, it is ironic that a relative newbie like me had to also read a bunch of thread pages to finally deduce the apparent intended purpose of Ascendancy, beyond a very vague goal of helping people create decentralized applications.

(Imagine if someone said their business plan was simply "to create applications": You'd ask what applications, why, and how, in which market sector, with what advantages over competitors and alternatives).

Apparently Ascendancy's actual purpose can be summed up as: kind of like LISK but supposed to be more user-friendly and modular, to whatever degree that matters, also somehow more efficient

Lisk is a large $16 million market cap coin, out for a long time.  Yet, as near as I can tell at quick glance, nobody has so far ever developed a decentralized application on it that is actually functional with real users, beyond their brief list of concepts and prototype ideas.

I'm pretty sure, if that is accomplished in Lisk or another decentralized application framework like hypothetical Ascendancy, the pioneers will be groups of experienced programmers, not utter casual newbies.  Yet, along with a silly unprofessionally irrelevant quote bashing U.S. math scores compared to other countries, Ascendancy's whitepaper talks about target users for whom "cryptography is a scary word" because "they associate it with mathematics."  Those are not the people going to be creating some of the world's first dApps anyway.

The actual example applications in the whitepaper seem to be what would not be tried by mere newbies, so, if user-friendliness is a particular advantage obtained, it would only be user-friendliness by the standards of a tool built for programmers or close to it.

One example application is a "fully featured cryptocurrency in a separate container."  That possibly means helping some users create a new coin or token, in a more customizable manner than just an Ethereum token or just paying a fraction of a Btc to a coin creation service like Creatio.  Having a market niche of large enough size is unknown, particularly as I know Creatio is currently bringing in only around a bitcoin a month in net service buys (other than cycling Yobit bots and speculators).

Another example Ascendancy application is creating a "website/blog," which is presumably cryptocurrency-related in some unspecified manner.  A high-end interpretation would be something heavily cryptocurrency-based and aimed at taking on the likes of Wordpress or Steem, but it seems to rather be in the "simple" section of the list.  So maybe it just means adding some kind of crypto payment widget to a website otherwise unrelated to crypto.

But nearly all of this has to be deduced or wildly guessed, as the whitepaper is mainly just vague.

To have even a chance at obtaining anywhere close to 480 Btc, drastic measures would need to be taken, probably including an improved whitepaper and some working example of something, before the end of the ICO.  You're presently asking for a half million dollars with a whitepaper less refined than some college essays.  If having seen enough prior ICOs, even the fact that this is only a 18-page thread is a red flag warning for chance of failure at drawing enough community interest for a goal that ambitious.

As a possible would-be investor, I'd be happy to be proven wrong if it means a way for me to make money, but neither the current whitepaper, nor apparently previously unresearched naivety about plausible ICO results, give any confidence that Ascendancy has a well-developed business plan.

Hello, Velenar.

Thank you for your constructive and professional criticism.
We recently sent out a survey to the community and they have pointed out the same things regarding the difficulty finding information about the application itself, the ticker and why Ascendancy is better than the competitors.
I've written a couple of documents on those subjects but they're not ready to publish yet.  

We will hopefully have a new version of the whitepaper published this week.
It will include a better technical explanation for developers and also a more pedagogical explanation for non-developers.
We will also include more practical uses for the framework when we release the whitepaper.

If you would like to discuss further or ask any questions, you're welcome to join our Slack Channel.

Best Regards,
Axel Karlsson
Project Manager

[SparkIt]

Happy New Year China!

With Chinese New Year Anniversary coming to an end, we've decided to reward early investors.
The first 50 people who joins our Slack and PM @andrewpenn their TID will get a 15% bonus reward.
This also applies to previous investments.

This offer is limited to 1 per Slack User and Ascendancy Account.
The offer is first come, first serve.

Isn't this a great way to start the week?





Offer ends: February 7th 2017

[chichidori]

The investment are a little slow, considering there are 3 or more ICO/IPO running every month no wonder some project wont get much of an attention, but i hope in the coming week when the chinese new year is over we will see a big jump on invested fund.

[Viscore]

The investment are a little slow, considering there are 3 or more ICO/IPO running every month no wonder some project wont get much of an attention, but i hope in the coming week when the chinese new year is over we will see a big jump on invested fund.

We still have more than 2 months before the IPO ENDS (10 March 2017), investment will be coming in the coming days, and you should watch for it. Now that Chinese New Year is over, we can expect to see some big investments that will come.

[Artebets]

How much total investment in IPO now?
thanks

[sxafir]

Is there a chance to change only pos without 101 delegates ?

[killerjoegreece]

How much total investment in IPO now?
thanks

https://ascendancy.io/#/ipo

you can check out the amounts here. just dont be signed in

[cyberspacemonkey]

Is there a chance to change only pos without 101 delegates ?

There are good reasons why it is Dpos and not just PoS, and it's all explained in the whitepaper.

[wrxbuzz]

ICO is already started for 3 days, but it is still 2 btc invested, and your threshold is 480 btc, it looks an impossible mission, it will fail surely. Sorry to tell you the truth.

[SparkIt]

ICO is already started for 3 days, but it is still 2 btc invested, and your threshold is 480 btc, it looks an impossible mission, it will fail surely. Sorry to tell you the truth.

Usually the funding raised is not linear. One day you can sell for nothing and one day you can sell for a hundred Bitcoin.
Even if we wouldn't get to 480 btc the project will keep being developed.

[operabit]

How much total investment in IPO now?
thanks

https://ascendancy.io/#/ipo

you can check out the amounts here. just dont be signed in

He make jokes bro

[ivanst776]

ICO is already started for 3 days, but it is still 2 btc invested, and your threshold is 480 btc, it looks an impossible mission, it will fail surely. Sorry to tell you the truth.

You never know what is going to happen and we can't speculate how much the project will get funded based on amount collected on the first days.

Mostly the investors invest at last day/minute and from my experience in ICN which I watched mostly every day there were millions of dollars invested on the last days