Tezos discussion

[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?

Wait, you don't already hold significant amounts of cryptocurrency but you're suddenly going to dump $200K into this ICO?  For your sake I hope this isn't your life savings.
But with this rise in the price of crypto I'm getting people asking me all the time how to invest and the first thing I tell them is that if they haven't already opened accounts at the exchanges and gone through verification that it's a long process to be verified to move more than a tiny bit of money.  Nobody ever listens, and the exchanges are so overloaded half their verification features don't work right. 

I don't take these people seriously, they are probably just promoters, not serious new tech seekers or investors.

I'm asking for help. It's cool if you don't want to answer my questions, but at the same time you know nothing about me. Probably better to say nothing at all.

[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?

Wait, you don't already hold significant amounts of cryptocurrency but you're suddenly going to dump $200K into this ICO?  For your sake I hope this isn't your life savings.
But with this rise in the price of crypto I'm getting people asking me all the time how to invest and the first thing I tell them is that if they haven't already opened accounts at the exchanges and gone through verification that it's a long process to be verified to move more than a tiny bit of money.  Nobody ever listens, and the exchanges are so overloaded half their verification features don't work right.  

1.) I own about $80,000 worth of ETH that I've been slowly buying with my CoinBase account, while getting familiarized with the industry.
2.) The $200k is a little less than 10% of my "Speculative" Funds. I may reduce the allocation down to $100k, depending on what I've determined to be the inherent risk. My questions pertain to that assessment... I'm here to learn from other crypto investors with more experience than myself.
3.) I now know, it's very difficult to get any real money into the exchanges quickly. For this reason, I'll probably be using Bitcoin Suisse AG to buy into the ICO.

The thing I've learned that concerns me the most, is that these ICO's can bust... my biggest questions:
1.) What is the likelihood of the XTZ coin never making it to the exchanges?
2.) What happens to the money invested if XTZ does not make it to the exchanges?
3.) Can anyone site examples of legitimate projects that went bust - and possibly explain why?


Thank you for any help you're willing to shell out.

[WastedLTC]

The thing I've learned that concerns me the most, is that these ICO's can bust... my biggest questions:
1.) What is the likelihood of the XTZ coin never making it to the exchanges?
2.) What happens to the money invested if XTZ does not make it to the exchanges?
3.) Can anyone site examples of legitimate projects that went bust - and possibly explain why?


Thank you for any help you're willing to shell out.

Many Many Many projects go bust.  Exchanges,  mining companies, alt coins,  chip manufactures, and ICOs.    Just look at the DAO.   

The coin will most likely get created, and will most likely get on an exchange.   The question is, will it be worth more or less than the ICO price (in comparison with BTC or USD?).

When ETH did the ICO, same thing happened.  Signing away your money for a year with the hopes and dreams that it will grow.  After ETH was listed, it dropped in price but I dont believe it hit the ICO price.    Things eventually worked out but even if you skipped ETH's ICO, you would still have made a killing from buying on exchanges later.

Just split some coins of to the side if you have some extra and hodl.    Come up with strategy and stick to it and you'll be fine.  =) .   [and never sell 100% of a coin cuz you never know!]

Good luck!

[CazMoney]

The thing I've learned that concerns me the most, is that these ICO's can bust... my biggest questions:
1.) What is the likelihood of the XTZ coin never making it to the exchanges?
2.) What happens to the money invested if XTZ does not make it to the exchanges?
3.) Can anyone site examples of legitimate projects that went bust - and possibly explain why?


Thank you for any help you're willing to shell out.

Many Many Many projects go bust.  Exchanges,  mining companies, alt coins,  chip manufactures, and ICOs.    Just look at the DAO.   

The coin will most likely get created, and will most likely get on an exchange.   The question is, will it be worth more or less than the ICO price (in comparison with BTC or USD?).

When ETH did the ICO, same thing happened.  Signing away your money for a year with the hopes and dreams that it will grow.  After ETH was listed, it dropped in price but I dont believe it hit the ICO price.    Things eventually worked out but even if you skipped ETH's ICO, you would still have made a killing from buying on exchanges later.

Just split some coins of to the side if you have some extra and hodl.    Come up with strategy and stick to it and you'll be fine.  =) .   [and never sell 100% of a coin cuz you never know!]

Good luck!

That's very helpful... thank you. A few questions if you don't mind:
1.) If you were to quantify it, how much risk - expressed as a percentage - is avoided by waiting for XTZ to hit the exchanges and buy it then, vs. investing in the ICO?
2.) My observation is that nearly all coins drop to about 50% of the price they opened on the exchange for within a very short period... would you agree?
3.) What would you guess is the likelihood that this happens with XTZ?

Again, thank you for your earlier response

[aguila]

this project is very hot ,i think it will be sold out all token shortly

100% agree. I bet that it breaks previous ICO records.

[2econd]

So any translations required?

[The Goat Master]

this project is very hot ,i think it will be sold out all token shortly

100% agree. I bet that it breaks previous ICO records.

Well, if there is no cap just block numbers timing(https://tezos.com/static/papers/Tezos_Overview.pdf), it couln't be sold out shortly.
Maybe they can change their terms. We'll see.

[bitbitch]

my sense is that interest in this project has cooled since the frenzy of April (Peak Tezos).

obscure coding language
governance that is no longer a USP
founders focused more on their exit than building the community.

[Biodom]

my sense is that interest in this project has cooled since the frenzy of April (Peak Tezos).

obscure coding language
governance that is no longer a USP
founders focused more on their exit than building the community.

Peak Tezos, I like it.
Definitely looks less interesting to me. Lots of more appealing ethereum ICOs with something unique rather than just the governance.
People don't want to vote on corporate issues-witness theDAO where people did not master more than 10% vote on even the urgent security upgrade. Remember when was the last time or how many times you voted to elect some corporate honchos in a company you have shares in?

Here, they try a whole new network. It might work, but ethereum juggernaut appears to be way too strong.

The thing I've learned that concerns me the most, is that these ICO's can bust... my biggest questions:
1.) What is the likelihood of the XTZ coin never making it to the exchanges?
2.) What happens to the money invested if XTZ does not make it to the exchanges?
3.) Can anyone site examples of legitimate projects that went bust - and possibly explain why?


Thank you for any help you're willing to shell out.

Many Many Many projects go bust.  Exchanges,  mining companies, alt coins,  chip manufactures, and ICOs.    Just look at the DAO.   

The coin will most likely get created, and will most likely get on an exchange.   The question is, will it be worth more or less than the ICO price (in comparison with BTC or USD?).

When ETH did the ICO, same thing happened.  Signing away your money for a year with the hopes and dreams that it will grow.  After ETH was listed, it dropped in price but I dont believe it hit the ICO price.    Things eventually worked out but even if you skipped ETH's ICO, you would still have made a killing from buying on exchanges later.

Just split some coins of to the side if you have some extra and hodl.    Come up with strategy and stick to it and you'll be fine.  =) .   [and never sell 100% of a coin cuz you never know!]

Good luck!

That's very helpful... thank you. A few questions if you don't mind:
1.) If you were to quantify it, how much risk - expressed as a percentage - is avoided by waiting for XTZ to hit the exchanges and buy it then, vs. investing in the ICO?
2.) My observation is that nearly all coins drop to about 50% of the price they opened on the exchange for within a very short period... would you agree?
3.) What would you guess is the likelihood that this happens with XTZ?

Again, thank you for your earlier response

I don't think that it is possible to predict what happens after the listing. Sometimes what you described happens, but Gnosis (GNO) sold at $30, opened at $60 and more or less kept going to $259 currently. Others (Eth, GNT) declined (albeit not to ICO level in at least eth case) before turning around and going higher.

[monocolor]

When will be ICO? looks at website, does not seem to have much info (pretty crappy website IMO)

[CoinManiac1]

Tezos will definitely receive more funding after Ethereum Success. However, I hate the fact the founders doesnt have a cap sale. Besides, they will liquidating the cryptos once ICO is over. I mean they get rich in an overnight and here we will be holding TEZOS, with no guarantee of ROI.

[crypto-dude]

Tezos will definitely receive more funding after Ethereum Success. However, I hate the fact the founders doesnt have a cap sale. Besides, they will liquidating the cryptos once ICO is over. I mean they get rich in an overnight and here we will be holding TEZOS, with no guarantee of ROI.

All ICOs are like that today... altcoin space becomes a gold mining now. It is the wild west.

Credible people at least you know what they do, but there are plenty newbies doing ICOs which is more fun to watch (and there are silly "investors").

[dqhuang]

Tezos will definitely receive more funding after Ethereum Success. However, I hate the fact the founders doesnt have a cap sale. Besides, they will liquidating the cryptos once ICO is over. I mean they get rich in an overnight and here we will be holding TEZOS, with no guarantee of ROI.

I thin they should think about the cap problem . now the BTC price is double to two month ago and ETH 4-5 double .

[Asimmo]

Wonder the devs know this forum/thread at all..
If yes - seems their PR strategy is "strange"..

[WastedLTC]

this project is very hot ,i think it will be sold out all token shortly

100% agree. I bet that it breaks previous ICO records.

You can't sellout something with no cap.

[Asimmo]

this project is very hot ,i think it will be sold out all token shortly

100% agree. I bet that it breaks previous ICO records.

You can't sellout something with no cap.

Caplessness is biggest disadvantage of this coin..

[lofegs]

Wonder the devs know this forum/thread at all..
If yes - seems their PR strategy is "strange"..

Well, if you read first post of this thread, yes they're aware of this forum 

Hi all, I'm heading the Tezos project. A few things about the project

 - We have real on-chain decentralized governance, i.e. we can upgrade the entire protocol without hard forks.
 - We support smart-contracts with a functional, statically typed language which we design specifically for formal verification. We presented it recently at the Stanford blockchain conference and the video should be online soon.
 - We're starting with a delegated proof-of-stake consensus model
 - We are headed for a crowdsale around late Q1, early Q2 2017.

We've been fairly discreet for the past few years quietly building our technology (our source code is available on Github). We did not want to go to a crowdsale without an actual working product. We're not a fork of any project, we built the entire thing from scratch in OCaml.

I'd be happy to answer questions about the project!

P.S. we're also looking to contract with translators and community manager.

[Proximity Scan]

In this the offical announcement thread of tezos? I think it's not but wanted to ask.

[gofrom]

They are all in slack

[n00b3rt]

In "Zero to One" Peter Thiel claims that from his investment experience, that companies whose CEO wants more than $150,000 are built for short term scamming of investments and have no long-term goals. He recommends avoiding them, as all successful startups pay their CEO less than $150,000 - and obviously devs get even less.

Here every developer is planned to receive $150,000 of investor's money per year, while you guys also live in a much cheaper place than Palo Alto.

I'm having a hard time believing that you're in for a long-term project and not just a quick money grab.

People are giving Bancor hell for raising a ton of money, but they'll use it to improve their product, your team seems like a spending machine...