Tezos discussion

[bitbitch]

what i dislike most about the founders is the sense of 'entitlement' they have, that the market must reward them (and enormously) for what they have 'achieved' to date.

What I dislike the most about ICO investors is the sense of entitlement they have that projects creators should comply to their terms whereby they are supposed to get rich quick without doing anything just by riding the coat tails of hard working innovators. Looters!

did i express 'terms' on the market side of this ICO? it has been widely suggested on forums that the founders should cap their beneficial gain from the ICO at a fixed ceiling value in response to their reasoning that the ICO is uncapped to encourage both the widest distribution of tokens and anti whaling concentrations of tokens. they have chosen not to cap their gain (of a project that has delivered as yet nothing of utility to society or economy). Capping their gain and maximum token distribution are not mutually exclusive outcomes. The present structure of the ICO allows for the founders to become exceedingly wealthy for creating disproportionately little common value. this is yet another example of the 'excesses' we have witnessed in other financial markets down the years. The founders hail from Wall Street.

[Jimmi Andersen]

Also out. This really sucks, but hopefully it will be forked in the first few weeks after going live(if it does go live).

[iTradeChips]

learned about this from a fellow crypto enthusiast friend. its one of those unique and interesting projects. maybe we will put some money into this ICO. Sent you a PM OP. thanks

[dissident]

NEMs distribution was comparatively inexpensive. Many people got it free.  Thats the way to ICO a coin.  No developer in the crypto space deserves millions of dollars until the coin proves itself which is what NEM did.  Too many people take the money and run.

[bitbitch]

NEMs distribution was comparatively inexpensive. Many people got it free.  Thats the way to ICO a coin.  No developer in the crypto space deserves millions of dollars until the coin proves itself which is what NEM did.  Too many people take the money and run.

and run - precisely.

[hansen.ng]

Eye opening thread here:

https://www.reddit.com/r/ethtrader/comments/6am251/what_are_everyones_thoughts_on_tezos_coinss_ico/dhhemcg/

Some pretty solid questions get asked, but whoever this dude is that is answering officially from Tezos just throws a temper tantrum.

A lot of interesting questions get asked, and he can't be bothered to answer any of them. Just attacks the guy with ad hominems for asking.

That might fly for some obscure little start up but wtf, these guys are hyping up the biggest sale in crypto history. Each of them personally stand to make multiple millions of dollars. For that they could answer a few questions.

This is vey disturbing attitude from all these developers, they are turning themselves into something else, this are things that is not possible traditional market because the interest of investors must be protected but they do want to be heard responsible for anything. From whom much is given much is expected

This is another way to scam money out of public. They did that in wall street now they are planning to do it in crypto world as well. I would suggest staying away from this coin.

[Jimmi Andersen]

Eye opening thread here:

https://www.reddit.com/r/ethtrader/comments/6am251/what_are_everyones_thoughts_on_tezos_coinss_ico/dhhemcg/

Some pretty solid questions get asked, but whoever this dude is that is answering officially from Tezos just throws a temper tantrum.

A lot of interesting questions get asked, and he can't be bothered to answer any of them. Just attacks the guy with ad hominems for asking.

That might fly for some obscure little start up but wtf, these guys are hyping up the biggest sale in crypto history. Each of them personally stand to make multiple millions of dollars. For that they could answer a few questions.

This is vey disturbing attitude from all these developers, they are turning themselves into something else, this are things that is not possible traditional market because the interest of investors must be protected but they do want to be heard responsible for anything. From whom much is given much is expected

This is another way to scam money out of public. They did that in wall street now they are planning to do it in crypto world as well. I would suggest staying away from this coin.

Me too. This is shitcoin.

[fistfullofbtc]

coins should work to get market cap, in the real world a tech firm floated at 100million would fail quickly in the real world. like gno i won;t touch it with a barge pole, ake it accessible and don't get greedy, embrace the community and money will flow but will take time. So many long term projects out there that are cheaper and better.
ICOs are becoming a bit of get rich quick schemes.

[uccoins]

I'm the community manager for Tezos. I work with the foundation.

Fundraiser has been postponed a few weeks. Explanation is here: https://www.tezos.ch/.

I don't use BitcoinTalk too much, but I'll try and get back here more often to direct people to answers for their questions.

Our Reddit (https://www.reddit.com/r/tezos/) is quite active though!

Could you answer this please:

From that slack transcript:
--
soporificprose So their 30% discount was based on the price of BTC at that point? That would make it a much bigger actual discount yo current BTC to 5,000 TZE
breitwoman @soporificprose pardon? no, it was all denominated in dollars
the sale is denominated in BTC
--
Good to know the Pool B investment was all denominated in dollars. What will be the BTC/$ rate for their investment? And the rate for the $422k of bonuses etc in Pool C?

As the sale is denominated in BTC, we need to know the BTC/$ rate that will apply. Would make sense if it was the rate at the time of the TGE start, May 22nd 6am UTC, is that the case?

[Jimmi Andersen]

coins should work to get market cap, in the real world a tech firm floated at 100million would fail quickly in the real world. like gno i won;t touch it with a barge pole, ake it accessible and don't get greedy, embrace the community and money will flow but will take time. So many long term projects out there that are cheaper and better.
ICOs are becoming a bit of get rich quick schemes.

Especially Tezos. They just do it to make money, and they get the money immediately, so not much incentive to stay and develop after the ICO, which they misleadingly call a TGE or donation. How stupid do they think we or the SEC are?

[tokeweed]

NEMs distribution was comparatively inexpensive. Many people got it free.  Thats the way to ICO a coin.  No developer in the crypto space deserves millions of dollars until the coin proves itself which is what NEM did.  Too many people take the money and run.

Can you list which projects' developers took the money and ran?  I don't think we've seen a lot of that after 2015.  I could be wrong tho, so please enlighten us.  I want to invest in Tezos but I'm still thinking about it.

[Jimmi Andersen]

NEMs distribution was comparatively inexpensive. Many people got it free.  Thats the way to ICO a coin.  No developer in the crypto space deserves millions of dollars until the coin proves itself which is what NEM did.  Too many people take the money and run.

Can you list which projects' developers took the money and ran?  I don't think we've seen a lot of that after 2015.  I could be wrong tho, so please enlighten us.  I want to invest in Tezos but I'm still thinking about it.

It's only a donation. Not an investment or even an ICO. People are constantly reminded about that on reddit. Technically they don't have to give you anything after the donation. Not even tezzies.

[vipgelsi]

ICO pushed back a little i see.

[python_fan89]

Is this project closed or else?

No. "The Tezos Foundation has decided to delay the fundraiser previously scheduled for Monday, May 22, until some time in June." from https://www.tezos.ch/

[rawzeee]

I'm the community manager for Tezos. I work with the foundation.

Fundraiser has been postponed a few weeks. Explanation is here: https://www.tezos.ch/.

I don't use BitcoinTalk too much, but I'll try and get back here more often to direct people to answers for their questions.

Our Reddit (https://www.reddit.com/r/tezos/) is quite active though!

Could you answer this please:

From that slack transcript:
--
soporificprose So their 30% discount was based on the price of BTC at that point? That would make it a much bigger actual discount yo current BTC to 5,000 TZE
breitwoman @soporificprose pardon? no, it was all denominated in dollars
the sale is denominated in BTC
--
Good to know the Pool B investment was all denominated in dollars. What will be the BTC/$ rate for their investment? And the rate for the $422k of bonuses etc in Pool C?

As the sale is denominated in BTC, we need to know the BTC/$ rate that will apply. Would make sense if it was the rate at the time of the TGE start, May 22nd 6am UTC, is that the case?

The early backers (Pool B) are getting the same deal as if they converted dollars to BTC at midnight and then contributed in the first day. It's 5000 XTZ per BTC plus a 20% bonus at the last close of the BTC price as reported by Coindesk. Pool C also receives the same ratio.

[self1sch]

Thx for the reddit link, will stay away from those guys as far as I can.

[Glutinous Treat]

Thx for the reddit link, will stay away from those guys as far as I can.

Look smell like old fishy then delay?   
Maybe sumfin wrong too serious and me make decide not risk than little btc

[addicto]

Thx for the reddit link, will stay away from those guys as far as I can.

Look smell like old fishy then delay?   
Maybe sumfin wrong too serious and me make decide not risk than little btc

Delay is not big problem from my point of view this project is looking legit as the team is working nice concept. Everybody has his own way of thinking but we have to risk in this kind of projects to make some profit which are promising.

[tokeweed]

NEMs distribution was comparatively inexpensive. Many people got it free.  Thats the way to ICO a coin.  No developer in the crypto space deserves millions of dollars until the coin proves itself which is what NEM did.  Too many people take the money and run.

Can you list which projects' developers took the money and ran?  I don't think we've seen a lot of that after 2015.  I could be wrong tho, so please enlighten us.  I want to invest in Tezos but I'm still thinking about it.

It's only a donation. Not an investment or even an ICO. People are constantly reminded about that on reddit. Technically they don't have to give you anything after the donation. Not even tezzies.

They're just setting up legal layers to protect themselves in case sh*t goes down and the SEC comes knocking on every ICO platforms' doors telling them to stop or else.  I'm just evaluating the whole situation here but I think Tezos is trying to set everything up as safe as possible for themselves (especially) and the token holders.  They may have learned a thing or two from their competitors mistakes and may have seen legal lapses in the way the other platform's organization is set up.  Better to be safe than sorry.

[fisheater]

Do we have the concrete date for fund raising?