Stratis and blitz - what's the real story here? smoke without fire ?? inferno?

[cryptohunter]

Have a small amount (around 0.5 btc) of stratis. No blitz right now.

Why are some in the blitz community complaining stratis owes them 1/6 of all the of the coins?

Can't see any clear answers here.

Who has the actually correct story backed up with some evidence?

No point trying to ask on either thread. Any outside observers have the facts?

[1714967867]

1714967867

[1714967867]

1714967867

[1714967867]

1714967867

[Piston Honda]

i woudl love to know
stratis seemed legit but well, not sure
as usual seems a small group hold most coins for pnd action

blitz seems (seemed) legit too, also long accumulation but the devs been pretty shady so hard to say
they hype only when releases happened when it was 12-17k...then of course disappear when the coin dumps to shit LOL....shocker. hrmmmmmmm.....

they COULD pump when platform launches, so we'll see.
tbh as much i thought they were decent i feel i no longer with to continue with their plans.............

[cryptohunter]

i woudl love to know
stratis seemed legit but well, not sure
as usual seems a small group hold most coins for pnd action

blitz seems (seemed) legit too, also long accumulation but the devs been pretty shady so hard to say
they hype only when releases happened when it was 12-17k...then of course disappear when the coin dumps to shit LOL....shocker. hrmmmmmmm.....

they COULD pump when platform launches, so we'll see.
tbh as much i thought they were decent i feel i no longer with to continue with their plans.............

Well, I hope this isn't going to blow up to be another insider scam deal.

How can blitz claim they are going to get 1/6th of the stratis minting.

I had no idea they share that same core dev?

[acdc]

Have a small amount (around 0.5 btc) of stratis. No blitz right now.

Why are some in the blitz community complaining stratis owes them 1/6 of all the of the coins?

Can't see any clear answers here.

Who has the actually correct story backed up with some evidence?

No point trying to ask on either thread. Any outside observers have the facts?

afaik this is the document where the 1/6 number comes from
https://docs.google.com/document/d/1nmtoFYZJb0WBHYFiKyCpfpE4NGnMv21Q4dZ6oyQ2W4A/edit#

We will soon be announcing our next project. A Blockchain-as-a-service cloud platform, that will provide simple one click provisioning of btc, eth, nxt, bts etc blockchain nodes like the other baas providers. The new platform will offer private chains for developers and businesses to develop and test applications on their own private blockchain with customized specifications. These private chains will be pegged to the platforms parent blockchain and will utilized merged POS mining with elected nodes mining blocks for the private chains. This will remove the requirement for mining, seed nodes etc, while allowing customers of the platform to scale up or scale out. The aim is to significantly reduce the time required for developers and businesses to develop, test and deploy Blockchain solutions.
This BAAS Solution will have its own Blockchain, the private blockchains will be side chains off the parent blockchain with a 2 way peg in place.
To raise funds for the development and marketing, and to allow killakem to work full time on the project, we will have an IPO. This presents us with 2 options for Blitz holders:

Option A:
The new blockchain would have 24 million coins. The existing 4 million Blitzcoin would be exchanged for the IPO token. Then the other 20 million coins would be sold during the IPO. All of the funds raised would go into the development of this new parent blockchain, platform development and marketing. This platform will require elected nodes to secure the side chains, Blitz execs will have the first choice for operating one of these nodes, if option a is selected.
Please note these are example figures and this new blockchain is likely to have a higher coin supply.

Option B:
We keep Blitzcoin as is. We make the new blockchain its own Bitalize project that pays a % to Blitz Rewards.  This would mean the BAAS platform is isolated from Blitz. The new platform and blockchain will be developed in an open source manner. so some of the development could flow back into the Blitz Blockchain.

The guy who posted the google doc was supposedly the dev of Blitz (unconfirmed though), he was planning Stratis, he suggested two options and asked some blitz whales to vote in a slack channel restricted to people with +30K Blitz.

Option A was a coin swap at rate 1/6
Option B was a % paid to blitz

Blitz whales voted for Option B (confirmed by blitz slack sceenshots), assumption being made is the % in Option B was the same as in Option A (1/6, or 16%), but that's pure speculation, nothing from the doc says anything concrete about Option B rate. We don't know if the options in the doc were the ones voted on (could have been a draft), or what else was said in the redistricted slack channel, no transcript so far.

Stratis dev has made no comment so far.

[kennyP]

The doc is a thought bubble from an honest dev trying to go full time in crypto. Nothing presented so far is anything like a contract.

The main whingers are no better than patent trolls trying to extract a ransom from a decent hard working dev who's actually creating something of value.

Some Blitz investors didn't know about this, but the policy of active 'executives' with +30K coins deciding direction was well known in Blitz community from 2016, it started after killakem took over 'Occupy' coin, which was abandoned and later re-branded as Blitz. Blitz was a community run coin by volunteers, no original ico, nothing suspect at all.

Killakem asked for a vote because he wasn't the original dev of blitz, so he didn't believe he had authority to organise a coin swap unilaterally. Easiest way to test the idea was ask active whales in the restricted slack, nothing sinister or under handed going on, just THE OPPOSITE. They declined.

Some blitz people are unaware how blitz features inside Stratis roadmap with the viral exchange, they're getting afraid blitz was abandoned, so they're taking this opportunity to bargain for a bigger slice of killakem's attention.

I'd bet 100 bitcoins this would never end up in court.

[cryptohunter]

The doc is a thought bubble from an honest dev trying to go full time in crypto. Nothing presented so far is anything like a contract.

The main whingers are no better than patent trolls trying to extract a ransom from a decent hard working dev who's actually creating something of value.

Some Blitz investors didn't know about this, but the policy of active 'executives' with +30K coins deciding direction was well known in Blitz community from 2016, it started after killakem took over 'Occupy' coin, which was abandoned and later re-branded as Blitz. Blitz was a community run coin by volunteers, no original ico, nothing suspect at all.

Killakem asked for a vote because he wasn't the original dev of blitz, so he didn't believe he had authority to organise a coin swap unilaterally. Easiest way to test the idea was ask active whales in the restricted slack, nothing sinister or under handed going on, just THE OPPOSITE. They declined.

Some blitz people are unaware how blitz features inside Stratis roadmap with the viral exchange, they're getting afraid blitz was abandoned, so they're taking this opportunity to bargain for a bigger slice of killakem's attention.

I'd bet 100 bitcoins this would never end up in court.

Interesting.

1- if they go there way where would 1/6 of the coins come from? do they generate another bunch of coins or how would it even work?

2- why would anyone from Blitz refuse this and turn it down if it was on the table?

3 - as things are now is this good for stratis now they turned down having 1/6th of the stratis coins?


2 - Is the most important part to me.... when things don't make sense then there is often a problem starting to form.

[cryptohunter]

Have a small amount (around 0.5 btc) of stratis. No blitz right now.

Why are some in the blitz community complaining stratis owes them 1/6 of all the of the coins?

Can't see any clear answers here.

Who has the actually correct story backed up with some evidence?

No point trying to ask on either thread. Any outside observers have the facts?

afaik this is the document where the 1/6 number comes from
https://docs.google.com/document/d/1nmtoFYZJb0WBHYFiKyCpfpE4NGnMv21Q4dZ6oyQ2W4A/edit#

We will soon be announcing our next project. A Blockchain-as-a-service cloud platform, that will provide simple one click provisioning of btc, eth, nxt, bts etc blockchain nodes like the other baas providers. The new platform will offer private chains for developers and businesses to develop and test applications on their own private blockchain with customized specifications. These private chains will be pegged to the platforms parent blockchain and will utilized merged POS mining with elected nodes mining blocks for the private chains. This will remove the requirement for mining, seed nodes etc, while allowing customers of the platform to scale up or scale out. The aim is to significantly reduce the time required for developers and businesses to develop, test and deploy Blockchain solutions.
This BAAS Solution will have its own Blockchain, the private blockchains will be side chains off the parent blockchain with a 2 way peg in place.
To raise funds for the development and marketing, and to allow killakem to work full time on the project, we will have an IPO. This presents us with 2 options for Blitz holders:

Option A:
The new blockchain would have 24 million coins. The existing 4 million Blitzcoin would be exchanged for the IPO token. Then the other 20 million coins would be sold during the IPO. All of the funds raised would go into the development of this new parent blockchain, platform development and marketing. This platform will require elected nodes to secure the side chains, Blitz execs will have the first choice for operating one of these nodes, if option a is selected.
Please note these are example figures and this new blockchain is likely to have a higher coin supply.

Option B:
We keep Blitzcoin as is. We make the new blockchain its own Bitalize project that pays a % to Blitz Rewards.  This would mean the BAAS platform is isolated from Blitz. The new platform and blockchain will be developed in an open source manner. so some of the development could flow back into the Blitz Blockchain.

The guy who posted the google doc was supposedly the dev of Blitz (unconfirmed though), he was planning Stratis, he suggested two options and asked some blitz whales to vote in a slack channel restricted to people with +30K Blitz.

Option A was a coin swap at rate 1/6
Option B was a % paid to blitz

Blitz whales voted for Option B (confirmed by blitz slack sceenshots), assumption being made is the % in Option B was the same as in Option A (1/6, or 16%), but that's pure speculation, nothing from the doc says anything concrete about Option B rate. We don't know if the options in the doc were the ones voted on (could have been a draft), or what else was said in the redistricted slack channel, no transcript so far.

Stratis dev has made no comment so far.

Sorry I didn#t notice that post. That makes much more sense now why they are asking for 1/6 th.

"Blitz whales"

Yes the entire transcript needs to be analysed.

To be fair this sort of thing should all be out in the open for the entire community to view from the start not on some hidden slack channel for whales only.

Never even heard of blitz until I was discussing stratis with someone just yesterday and they said they held blitz too as it was the same dev for both.

[adhitthana]

The doc is a thought bubble from an honest dev trying to go full time in crypto.

Let no good deed go unpunished

[KLONE]

Sorry I didn#t notice that post. That makes much more sense now why they are asking for 1/6 th.

"Blitz whales"

Yes the entire transcript needs to be analysed.

To be fair this sort of thing should all be out in the open for the entire community to view from the start not on some hidden slack channel for whales only.

Never even heard of blitz until I was discussing stratis with someone just yesterday and they said they held blitz too as it was the same dev for both.

The 1/6 swap rate was killakem's offer, that number wasn't pulled out of thin air like some are suggesting, not many knew about it coz the offer and discussion only happened in private between chris and a handful of blitz whales. Admittedly the 1/6 was mentioned for the option A (swap), but it's a reasonable assumption to use that figure for option B also, the % share (which was chosen by the blitz whales)

I agree, we need much more information and transcripts before anyone can get to the bottom of this

[KLONE]

The doc is a thought bubble from an honest dev trying to go full time in crypto.

Let no good deed go unpunished

It's only a good deed if the commitments made to blitz are fulfilled, whatever they were. Any punishment comes from broken promises, whatever they were

[cryptohunter]

The doc is a thought bubble from an honest dev trying to go full time in crypto.

Let no good deed go unpunished

It's only a good deed if the commitments made to blitz are fulfilled, whatever they were. Any punishment comes from broken promises, whatever they were

Why though if it was a real commitment are the blitz community not freaking out if they have rights to 1/6th of stratis?
Also why do only a small minority of blitz get to even hear about such things and make unilateral decisions without the rest of the community even being aware?

But yes if it was promised it should be given.

[irukandji]

The doc is a thought bubble from an honest dev trying to go full time in crypto.

Let no good deed go unpunished

It's only a good deed if the commitments made to blitz are fulfilled, whatever they were. Any punishment comes from broken promises, whatever they were

Why though if it was a real commitment are the blitz community not freaking out if they have rights to 1/6th of stratis?
Also why do only a small minority of blitz get to even hear about such things and make unilateral decisions without the rest of the community even being aware?

But yes if it was promised it should be given.

And since we cannot prove that it was not promised...then...logically.... we have proved that it was promised.

https://www.youtube.com/watch?v=zrzMhU_4m-g

A witch...a witch...a witch...we found a witch.

[wrxbuzz]

There is no 1/6 owes, you blitz guys are drraming to steal free stratis? No way. Stratis CEO Chris was volunterily work for blitz for free, but why you think he must give you coins? He is not the founder of blitz. So No Way.