Tezos discussion

[Geenstijl]

I have a proposal on how to greatly improve the ICO to the benefit of all sides.

As was pointed out before, there is an inconsistency between the funding and receiving side. Buyers are putting money in in order to buy the currency (ehrm I mean donate to foundation), while the receiving side of the money is a loosely connected company (the DLS) receiving an investment and its founders getting a cash reward. So, in fact, total misalignment.

There is a simple remedy I have not seen proposed anywhere yet.

Put a cap on the money, but not on the whole ICO. Cap the money the DLS and founders will get. The DLS should know quite well what investment they need to run the business and that should be the cap.

Any money raised above the cap would become backing assets of Tezos, like in a DAO, under control of the shareholders.

As a result:
1) DLS and founders will not be over-financed by some ridiculous amount of money, they will get some ideal amount of $.
2) The ICO money will go where it should go by the buyers intention - into the currency.
3) Being backed by solid assets, Tezos will start much stronger and will have a real value.
4) Tezos will have its own funds for development. It will not be solely dependant on a technically totally unrelated DLS.
5) Investors will be incomparably more confident to invest when good part of the invested money will stay stored in Tezos.

This structure of the ICO would benefit everybody over the current model. Except for the founders who are looking at their uncapped cash. But I believe they would, in the end, benefit too.

Thoughts?
Tezos team - if you don't like this option, can you please explain why?

Just look at tho ICO of Lykke. They are the most fair to their investors. Lykke not only represents a currency that can be used on their platform, but also make you a shareholder in the business entity.

[miramare]

I have a proposal on how to greatly improve the ICO to the benefit of all sides.

As was pointed out before, there is an inconsistency between the funding and receiving side. Buyers are putting money in in order to buy the currency (ehrm I mean donate to foundation), while the receiving side of the money is a loosely connected company (the DLS) receiving an investment and its founders getting a cash reward. So, in fact, total misalignment.

There is a simple remedy I have not seen proposed anywhere yet.

Put a cap on the money, but not on the whole ICO. Cap the money the DLS and founders will get. The DLS should know quite well what investment they need to run the business and that should be the cap.

Any money raised above the cap would become backing assets of Tezos, like in a DAO, under control of the shareholders.

As a result:
1) DLS and founders will not be over-financed by some ridiculous amount of money, they will get some ideal amount of $.
2) The ICO money will go where it should go by the buyers intention - into the currency.
3) Being backed by solid assets, Tezos will start much stronger and will have a real value.
4) Tezos will have its own funds for development. It will not be solely dependant on a technically totally unrelated DLS.
5) Investors will be incomparably more confident to invest when good part of the invested money will stay stored in Tezos.

This structure of the ICO would benefit everybody over the current model. Except for the founders who are looking at their uncapped cash. But I believe they would, in the end, benefit too.

Thoughts?
Tezos team - if you don't like this option, can you please explain why?

Just look at tho ICO of Lykke. They are the most fair to their investors. Lykke not only represents a currency that can be used on their platform, but also make you a shareholder in the business entity.

The team has the right to select the way to ICO. But the investors have the right to put their money in or not.

Tezos has a good concept. But the future of cryptocurrency doesn't belong to ONE coin.  We have also other good candidates to invest. That's it.

[steampunkz]

Will be watching this thread...  Its june but its yet been launched?

[dragonchopper9]

If you make a sale without a hard cap, then this can lead to the fact that investors will suffer from this.

[gluedog]

When its gonna hit exchanges?

It's on exchanges already. Go to Polo, in the search box press ctrl-f4 several times and it should show up the trading pair.

Also same goes for bittrex.

Oh! Thank you man it worked, i just bought 50,000 of the coin ^_^

[alexinv]

  are you joking? I coudn't find tezos on exchange polo  yea, tezos is keeping to hold intrigue about the exact date of ico 

[trade-and-train]

When its gonna hit exchanges?

It's on exchanges already. Go to Polo, in the search box press ctrl-f4 several times and it should show up the trading pair.

Also same goes for bittrex.

Oh! Thank you man it worked, i just bought 50,000 of the coin ^_^

you must of invested in something else ahah, you can't pre buy tezos on poloniex they haven't even started the ico

[gluedog]

When its gonna hit exchanges?

It's on exchanges already. Go to Polo, in the search box press ctrl-f4 several times and it should show up the trading pair.

Also same goes for bittrex.

Oh! Thank you man it worked, i just bought 50,000 of the coin ^_^

you must of invested in something else ahah, you can't pre buy tezos on poloniex they haven't even started the ico

Well I did the ctrl-f4 thing what the guy suggested and it worked!

[alexinv]

 maybe this is only joke maybe not, I tried to type ctrl-f4 and nothing but only Internet page was closed 

it is weird but such interesting project gathered only 20 pages of discussion  I thought it would be a lot more with discussion of token functioning etc

by the way my question to whom apparently bought this token on polo. what was the price???

[trade-and-train]

maybe this is only joke maybe not, I tried to type ctrl-f4 and nothing but only Internet page was closed 

it is weird but such interesting project gathered only 20 pages of discussion  I thought it would be a lot more with discussion of token functioning etc

by the way my question to whom apparently bought this token on polo. what was the price???

1btc gets you 5000-6500 tezos

[bitbitch]

maybe this is only joke maybe not, I tried to type ctrl-f4 and nothing but only Internet page was closed 

it is weird but such interesting project gathered only 20 pages of discussion  I thought it would be a lot more with discussion of token functioning etc

by the way my question to whom apparently bought this token on polo. what was the price???

there might be an IOU token floating around, but no actual Tez token yet. that's not going to materialise for some months.

[gal_v]

In which date and time Tezos fundraiser wiil be ? How can we buy the tokens in this date ? Is there any wallet for the tokens?

[CazMoney]

Hello everyone...

I recently contacted Tezos with the following question:
" Will I be able to participate in the ICO by purchasing Tezos with $USD, vs Bitcoin or Ethereum? "

Their response:
" First I must inform you it isn't an ICO or a purchase. It's a donation in a fundraiser for a Swiss foundation. The foundation will recommend an allotment of tokens for participants...
The Tezos Foundation will accept BTC and ETH through a special website which will open only when the fundraiser opens. Sign up for our mailing list here for updates. Alts will be accepted at the same website via ShapeShift. Contributions in fiat currencies are also possible through Bitcoin Suisse AG, though be advised to check their rates and the legal permissibility of that course of action within your jurisdiction. If you choose to contribute in ETH, the equivalent BTC amount will be estimated based upon the timestamp of the Ethereum block in which the transaction is included and the median of the the last trade price on Poloniex, Kraken, and GDAX. This is offered for the convenience of ETH holders and on a best-effort basis. If you want certainty contribute with BTC, otherwise you accept the risk that the exchange rate you'll get may not be exactly what you see on the screen at the moment of your contribution. "


So I'm rather new to this, but I've had great success in the stock market and want to diversify by purchasing some BTC, ETH, and of course Tezos. The Tezo's team response is confusing to me... They're basically soliciting for donations to a foundation, which will determine an allotment of tokens for participants. In other words, we have no idea how much we're paying for the Tezos until AFTER we've "donated" money to the foundation?

Is my interpretation of their response correct?


Thank you -

[GinkgoFarm]

Hello everyone...

I recently contacted Tezos with the following question:
" Will I be able to participate in the ICO by purchasing Tezos with $USD, vs Bitcoin or Ethereum? "

Their response:
" First I must inform you it isn't an ICO or a purchase. It's a donation in a fundraiser for a Swiss foundation. The foundation will recommend an allotment of tokens for participants...
The Tezos Foundation will accept BTC and ETH through a special website which will open only when the fundraiser opens. Sign up for our mailing list here for updates. Alts will be accepted at the same website via ShapeShift. Contributions in fiat currencies are also possible through Bitcoin Suisse AG, though be advised to check their rates and the legal permissibility of that course of action within your jurisdiction. If you choose to contribute in ETH, the equivalent BTC amount will be estimated based upon the timestamp of the Ethereum block in which the transaction is included and the median of the the last trade price on Poloniex, Kraken, and GDAX. This is offered for the convenience of ETH holders and on a best-effort basis. If you want certainty contribute with BTC, otherwise you accept the risk that the exchange rate you'll get may not be exactly what you see on the screen at the moment of your contribution. "


So I'm rather new to this, but I've had great success in the stock market and want to diversify by purchasing some BTC, ETH, and of course Tezos. The Tezo's team response is confusing to me... They're basically soliciting for donations to a foundation, which will determine an allotment of tokens for participants. In other words, we have no idea how much we're paying for the Tezos until AFTER we've "donated" money to the foundation?

Is my interpretation of their response correct?


Thank you -

They will set the price in Bitcoins, For example a starting price may be 6000 Tezos = 1 BTC. If you use any other alt coin or Fiat then they approximate the exchange rate for the date/time you contributed. So if you only have Fiat now, your best bet is probably to buy BTC to contribute, that way you know exactly how many coins you will get. Timing of your BTC purchase is obviously up to you, may go up or down in value between now and the 'donation'.

[bitbitch]

Hello everyone...

I recently contacted Tezos with the following question:
" Will I be able to participate in the ICO by purchasing Tezos with $USD, vs Bitcoin or Ethereum? "

Their response:
" First I must inform you it isn't an ICO or a purchase. It's a donation in a fundraiser for a Swiss foundation. The foundation will recommend an allotment of tokens for participants...
The Tezos Foundation will accept BTC and ETH through a special website which will open only when the fundraiser opens. Sign up for our mailing list here for updates. Alts will be accepted at the same website via ShapeShift. Contributions in fiat currencies are also possible through Bitcoin Suisse AG, though be advised to check their rates and the legal permissibility of that course of action within your jurisdiction. If you choose to contribute in ETH, the equivalent BTC amount will be estimated based upon the timestamp of the Ethereum block in which the transaction is included and the median of the the last trade price on Poloniex, Kraken, and GDAX. This is offered for the convenience of ETH holders and on a best-effort basis. If you want certainty contribute with BTC, otherwise you accept the risk that the exchange rate you'll get may not be exactly what you see on the screen at the moment of your contribution. "


So I'm rather new to this, but I've had great success in the stock market and want to diversify by purchasing some BTC, ETH, and of course Tezos. The Tezo's team response is confusing to me... They're basically soliciting for donations to a foundation, which will determine an allotment of tokens for participants. In other words, we have no idea how much we're paying for the Tezos until AFTER we've "donated" money to the foundation?

Is my interpretation of their response correct?


Thank you -

the token is not a 'security'. you are making a 'donation'. this is how the founders sidestep SEC regulations. they are saying that there is no direct link between the money you send and the token you 'may' receive. what is interesting though is that the number of tokens you 'may' receive will be in direct proportion to the value of the donation you make vis a vis the total raised. clearly there is a link between money and token. it's legal doublespeak to keep the founders out of court if things go wrong.

[forkedchain]

 

I have a proposal on how to greatly improve the ICO to the benefit of all sides.

As was pointed out before, there is an inconsistency between the funding and receiving side. Buyers are putting money in in order to buy the currency (ehrm I mean donate to foundation), while the receiving side of the money is a loosely connected company (the DLS) receiving an investment and its founders getting a cash reward. So, in fact, total misalignment.

There is a simple remedy I have not seen proposed anywhere yet.

Put a cap on the money, but not on the whole ICO. Cap the money the DLS and founders will get. The DLS should know quite well what investment they need to run the business and that should be the cap.

Any money raised above the cap would become backing assets of Tezos, like in a DAO, under control of the shareholders.

As a result:
1) DLS and founders will not be over-financed by some ridiculous amount of money, they will get some ideal amount of $.
2) The ICO money will go where it should go by the buyers intention - into the currency.
3) Being backed by solid assets, Tezos will start much stronger and will have a real value.
4) Tezos will have its own funds for development. It will not be solely dependant on a technically totally unrelated DLS.
5) Investors will be incomparably more confident to invest when good part of the invested money will stay stored in Tezos.

This structure of the ICO would benefit everybody over the current model. Except for the founders who are looking at their uncapped cash. But I believe they would, in the end, benefit too.

Thoughts?
Tezos team - if you don't like this option, can you please explain why?

The founders probably want to make more and more money so I assume this idea will be completely ignored, they might pretend that they never read it.
But I hope they see it and decide to implement it, this seems like a great idea.
[/quonot a bad suggestion.

I have a proposal on how to greatly improve the ICO to the benefit of all sides.

As was pointed out before, there is an inconsistency between the funding and receiving side. Buyers are putting money in in order to buy the currency (ehrm I mean donate to foundation), while the receiving side of the money is a loosely connected company (the DLS) receiving an investment and its founders getting a cash reward. So, in fact, total misalignment.

There is a simple remedy I have not seen proposed anywhere yet.

Put a cap on the money, but not on the whole ICO. Cap the money the DLS and founders will get. The DLS should know quite well what investment they need to run the business and that should be the cap.

Any money raised above the cap would become backing assets of Tezos, like in a DAO, under control of the shareholders.

As a result:
1) DLS and founders will not be over-financed by some ridiculous amount of money, they will get some ideal amount of $.
2) The ICO money will go where it should go by the buyers intention - into the currency.
3) Being backed by solid assets, Tezos will start much stronger and will have a real value.
4) Tezos will have its own funds for development. It will not be solely dependant on a technically totally unrelated DLS.
5) Investors will be incomparably more confident to invest when good part of the invested money will stay stored in Tezos.

This structure of the ICO would benefit everybody over the current model. Except for the founders who are looking at their uncapped cash. But I believe they would, in the end, benefit too.

Thoughts?
Tezos team - if you don't like this option, can you please explain why?

The founders probably want to make more and more money so I assume this idea will be completely ignored, they might pretend that they never read it.
But I hope they see it and decide to implement it, this seems like a great idea.

not a bad suggestion.  but i do applaud the open ICO, thats for sure.

id suggest something like this:   where Arthur et al establishes moon and mars targets, then before the donations start, they guarantee some kind of future dividends in tezos, based on the actual target reached (moon, mars), to be remitted back to contributor some time in the future.

if they did this, we can forget about mars, they would reach *JUPITER*

pollibly also recommend them publish some target (moon, nmars, jupiter, etc) beyond which the TEZOS/BTC ratio (and fiat, eth, and so on)be cut to 500 instead of 5000?  this one isnt as big a deal, IMO, just would like to keep from having some crazy inflated number of tokens out there

[CazMoney]

I'm scrambling to get the USD ($200k) converted to bitcoin fast enough... it's not easy. Which brings me to another question... I see most coins open and then loose 50% of their value within a few months before stabilizing. How do we know what the opening price will be per Tezo on the exchange? For example, if I paid $3000 for BTC and one BTC does in fact buy 6000 Tezos, the opening price would need to be at least 50 cents, or I loose. Is there a way to estimate what the expectation is?

[yokosan]

I think ico will be nice. $ 1 may be under. but after a while it will rise rapidly. important and quality of a project. I'm looking forward to it. hopefully soon ico begins. I'm thinking of making a good investment.

[alexinv]

who knows what token is better tezos or aeternity? I am not a profound specialist in these two tokens and I can't even catch the difference between them 

[Wapfika]

I think ico will be nice. $ 1 may be under. but after a while it will rise rapidly. important and quality of a project. I'm looking forward to it. hopefully soon ico begins. I'm thinking of making a good investment.

When will it be? I'll be watching it. Keep updating