[ANN] Ethbits Crowdsale (ICO) MORE THAN 13644 ETH RAISED !

[jenifive]

We are using the Ethereum Network mainly to use the profit share smart contract. Also we have found a company in Gibraltar where we can pay dividends without KYC so this is a major step in the right direction.

So you wouldn't really be needed a Ethereum Network if it werent a profit share smart contract? Thats the only feature why EthBits exchange will be using it?

We will grow slowly with closed and open Beta. We are fully aware of the potential risks and will avoid them at all costs.

If you will be growing slowly with closed and open Beta than why would you need such huge amount of money from investors to start an exchange?

Can you provide the exact list of costs on why would you need 400 000$+ for making a small exchange which it will be at the start?

If at some time exchange will become a little bigger, you will be starting to proof your credibility than you will be getting additional money from the exchange fess for growing. You dont need an instant huge budget without return which you will be getting from people on crowdsale.

We will be paying dividends in Ehthereum and we do not know the profit share yet until we have finished the crowdsale. It will be between 8% and 40%. Lets say we sell out and you buy 100% of the tokens which is 4 mill. If we  make 5k ETH per day then we distribute 40 % this evenly between the 5 Mill token holders every quarter. But remember we will have a decreasing supply.

How we can be sure that you will paying ALL the dividents that need to go to token holders? We should trust on your word?

We will be provably fair it is in out white paper. If you have a read we can answer any questions you have no problems.

Im sure you know whitepaper better than most of us. Imagine im an investor goes at the door of your company and asking you simple question.
So the question is - Will you be providing a full quarterly-monthly accounting report on what is happening inside company? Will we see a provable list of money activity on spending the EthBits exchange budget? Will we see a total profit report on every month-quarter?

Polo make 1 Mill usd per day sometimes. If they used our structure it would not just be the core team who are rich. We are giving people a good opportunity. Start Up businesses are always a risk but we have an excellent team to make this happen. I think its an excellent and fair business proposition to buy the coin. WE did have offers  from angel investors but we prefer to let the community gain which in turn will give us more awareness and volume.

Centralized Start Up businesses are always at risk for investors and the creators. For the most part it is investors. In your scheme i dont see the part where EthBits team are risking. You are getting 100% of money from people for developing your project. If you will fail investors will lose money. You won't lose a single dime. You will go away and that's it.

You somehow mentioning every time a Polo exchange like there is no other exchange that even existed. Maybe lets start with a little less exchange to be comparing with at first? Ambition is good but reality is better.

What are the names of angel investors that was giving a money to you and you refuse their offers?

[tehMoonwalker]

damn youre giving this guy a hard time. is there any ico where you can be 100% sure to receive everything that they promised?!

[aioc]

One of the issue confronting this project is the dev ignoring those valid questions,but I saw and read some valid questions and issues raise by one member and the dev did not moderate or delete it,those questions are not spam let the dev answer all these so he can prove that the this coin is ok and legit.

[jenifive]

damn youre giving this guy a hard time. is there any ico where you can be 100% sure to receive everything that they promised?!

Im claiming this project because it has completely centralized project for which you wont be needed a blockchain. The only reason why they using ethereum network is because they want give a small incenvite (profit sharing) for people to invest in it.
There is no other part in their system where EthBits will be using Ethereum. Symply they dont need it!

It's the same as if you are starting an offline car sale business and asking for people to invest thought smart contract to get CarSale token. And assuring that if business will be profitable they will get a dividents. If not than well.... what can they do?

[tan625747]

I wouldn't be trusting EthBits project with the person that have negative rating account...
https://bitcointalk.org/index.php?action=profile;u=900663


And im very worry right now about the money that people already contributed to the crowdsale.

Please be aware!


Plus i didnt get any answers to my questions since two days...

Jenifive.

Ask questions with out quotes with out FUD and I personally will answer them I guarantee you. But stop spamming our thread with the same thing. I understand concerns from any investor into a new project but ask properly. If you genuinely have questions list them below. tomorrow I will answer to the best of my ability.

Thanks.

First you need to stop deleting any messages from this thread that are relevant to the project even if you dont like them.


Questions are in quotes because i see that you are refusing to answer to them and simply deleting messages.
The first three times my questions were without any quotes and accusations. But as i see you dont want to talk and banning me from Telegram, your subreddit, deleting messages from here. So what conversation are you talking about?

What so FUD about my messages? Can you alaborate on that? That i think you shouldn't trust people that cant answer to simple questions and instead of that deleting all?

Now after 30 times of deleting my messages from here, from Telegram and reddit you want to talk? Why not start doing it before it?

Spamming is posting the same message all over again where the same message is ALREADY located and not being deleted without any reason.

If you understand the concernes from inverstors why not just answer to the questions instead of doing something else?

The questions are:

1. We already have another well made exchanges goes through the fire, getting hacked (Polo) and getting stronger every time. And this would mean that if people will be trading on EthBits they will be risking money to lose. Because exchange will be fresh, without any fixes. And every new exchange is more exposed to hacks because developers dont have enough experience developering their own exchange. So there are will be exchange mistakes on which traders will be paying by losing money. What are the guarantees that EtherBits cold storage wont get hacked with traders money? How can you give any promises on that? Why doing another centralized exchange in the first place?

2. Why you need blockchain network to make a centralized exchange? Other than giving a very small percentage of dividents to token holders what is the another reason? I dont see one.

3. Why not starting exchange without crowdsale? Liqui.io is great example on that. They weren't started any crowdsale to get money from people. They did it by themselves.

The way i see EthBits is using excuse (Ethereum network) to get money for developing centralized exchange on which most of the profits will go only to you. I dont see the reason why else would you need this.

I wouldn't say a thing is this was a decentralized exchange project like bitsquare or openledger or https://etherdelta.github.io but its not. Its from another world.

1. Good question seriously it is good.  Well for the hacking part we are using a team of developers who know the concept of cold storage very well and I have mentioned it before that they have made an exchange that has never had any security problems. We will not be using smart contracts because we are not yet so confident enough. If we use standard well proven protocols with cold storage then the only security breach will be inside jobs and nobody wants to go on the run or go to jail. There will be no one with access to the code who is not well vetted and who has a equity in the company. It will not happen.

2.
Rather than get Angel investors (most of them already have a piece of the pie in other exchanges) we are doing a crowdsale so to give everybody an option to get good returns. We can not legally sit her and say yes you will get rich but we are extremely confident we can take on the top exchanges with volume quickly. Also we will be utilising our token to partly pay site fees and also part of the fees we take in our token will be burned. So we will have a constant volume with a reducing supply. We could not do that with pounds or bitcoin and if we could then it would be nice to hear how we could.

3. I kind of answered this before. I would say Liqui is successful but only a hand full of people are gaining considerable amounts of returns. we are aiming high like Polo. You can call that rubbish if you like but we have the right team in place to do so. Polo makes sometimes 1 Mill usd per day. imagine 40% of that shared out to the people who believed in us from the start or even people who bought our token at 50 times the value from now. I am not saying we will do any of this I am giving you a scenario. If we sell out and we make 1 mill per day then we will pay out 400k USD per day to token holders that will be better than what liqui offers by holding your bitcoin. So what would you prefer a handful of people making all the money or a community  who saw an opportunity and grabbed it to share the profits. We are doing all the hard work all you have to do is believe in what we are doing. So your argument I do not understand.

1. So you are guarantee that EthBits exchange wont get hacked ever in any way? That cold storage can't be hacked ever? That could't happen? Poloniex using cold storage and even they were hacked several times. What are the names of developers that already made another exchanges and what are the name of their exchanges?

2. So your answer for my question is you are using blockchain network because you need to money for developing centralized exchange and there is no near any other reason why would you need to use particulary a blockchain? So if you had money for developing you wouldn't use ethereum network?

3. I'm sure Liqui will get bigger after some time and i dont see the reason why would some new exchange should be huge with a lot of users. If you are planning to start instantly like Polo with their volumes than you are risking to be hacked because a lot of hackers eyeballs will be watching your exchange.
I think there is no reason to be in a hurry to become big because you should get enough time to get trust and credibility.
I need the exact calculations what profit will token holders get if for example you will be having Bittrex month profit.

What profit will i get if i will be buying EthBits tokens for the current price in sum of 10 BTC.

For example:
I will be buying 20000 EBTS. It is 0.9% of all the 100% total EBTS cap.
If Exchange will be getting profit for 50k USD every day the token holders will be getting 1000 EBTS profits every month to my wallet.

Also will the exchange profit calculations be transparent and you will be making every month a thorough spreadsheet for investors? Or we will be trusting on your WORD that you will be fair and will give any exchange balance information? How also we could be sure that you will be getting correct data without any changes? Am i understand this right that your profit payments to tokens holders will be made by EthBits devs so we should trust you that your team won't scum anyone?

In total this is your business model?
You asking for 100% of money from people without any return for exchange development. No one can be sure if you even make this glorious exchange. No one is sure if it will any good. No one is sure if it will not be hacked.
And if at the end all will get well and you will finally release your exchange after a year or more for every 1 profited dollar you will take 0.6 cents for yourself and the rest 0.4 for all the token holders? What kind of fairy world are you live in? Do you think this is reasonable business model for people buying your coin?

Of course you signed NDA on your p2p exchange! No one should even know the name of such exchange in which you were developing it. Thats the kind of conforting information i need to know that will give me confidence in legitemacy of the project!

So you are saying you are guaranteeing that for the second type of security breach you can assure all that EthBits can't be hacked ever?

So if exchange will be using cold storage it will be exposed for being hacked on the level of database structure and withdrawal daemon in which situation traders will lose money anyway?

i will  trust lunda

[jenifive]

One of the issue confronting this project is the dev ignoring those valid questions,but I saw and read some valid questions and issues raise by one member and the dev did not moderate or delete it,those questions are not spam let the dev answer all these so he can prove that the this coin is ok and legit.

My questions were deleted 25! times here before they leave it alone understanding that they can't ban me here.

But when i asked the same questions on Telegram what would you think happen? They banned me and deleted all my questions instantly claiming me a troll.

[SoeNan89]

They can fud all they want, but I'll still believe in ethbits.
Just think, if its a scam ICO, how can they attend the coinfest UK 2017, one more thing, this is an article from one of the most reputable sites in crypto news. You can take a read, and as I said, they are not publishing scam stories or ICO because they are also a well reputed one.

https://www.cryptocoinsnews.com/ethbits-gets-green-light-new-copy-trading-cryptocurrency-exchange/

Yes, I agree with you friend. Also I'll still believe in Ethbits. Now ICO has completed 8K ETH.
I think it's amazing funds. So, I hope ethbits Project will be success in the future.

[Ucuper]

Wow....This is very surprising suddenly Dev account got Red-Trust

[aioc]

Wow....This is very surprising suddenly Dev account got Red-Trust

Those red tags are not from DT1 they are not showing in my side,so their account  is still ok but they must prove that they are legit and they can start from answering those issues and not deleting post and so far they are not deleting.

[ethbits]

One of the issue confronting this project is the dev ignoring those valid questions,but I saw and read some valid questions and issues raise by one member and the dev did not moderate or delete it,those questions are not spam let the dev answer all these so he can prove that the this coin is ok and legit.

My questions were deleted 25! times here before they leave it alone understanding that they can't ban me here.

But when i asked the same questions on Telegram what would you think happen? They banned me and deleted all my questions instantly claiming me a troll.

It was deleted 25 times because part of it was FUD. Now your questions have been answered because you formulated them correctly. So the issue has been solved.


Like I said before I will answer ANYTHING so please ask. As for the RED feedback I dont know what to do. We never said we couldn't be hacked the Lead Developer says he knows how to ensure we wont be hacked.

[ethbits]

They can fud all they want, but I'll still believe in ethbits.
Just think, if its a scam ICO, how can they attend the coinfest UK 2017, one more thing, this is an article from one of the most reputable sites in crypto news. You can take a read, and as I said, they are not publishing scam stories or ICO because they are also a well reputed one.

https://www.cryptocoinsnews.com/ethbits-gets-green-light-new-copy-trading-cryptocurrency-exchange/

Yes, I agree with you friend. Also I'll still believe in Ethbits. Now ICO has completed 8K ETH.
I think it's amazing funds. So, I hope ethbits Project will be success in the future.

Thank you! These red flags will only slow down the money we will be taking but we already have the green light to make the platform iTrade. It will be a great success. Then all we have to do is go to www.bnktothefuture.com probably earlier than we anticipated but we are good to go to mke the nexr Ground Breaking exchange.

[xdookiex]

Hey yo sucka - I'll be more than happy to shove this post up my own ass if you don't get scammed and if not, well tell me i'm a troll ofc...  

lol. If its a scam, how do you justify the, https://www.youtube.com/watch?v=ogGJ4eug7kI&t=438s

Have you watched it sucka?

I bet you'll feel really good with that post.

[xdookiex]

Also another interview:

https://www.youtube.com/watch?v=zDd81OMA5uQ


At the end of the interview, they say they are going to be listened on Liqui & Kraken.
That they are having talks with those exchanges.

Also is mentioned, "we're not going to bother p-" and he swallows his words before finishing....but it sounded like they are not going to bother listing on poloniex.

[jenifive]

One of the issue confronting this project is the dev ignoring those valid questions,but I saw and read some valid questions and issues raise by one member and the dev did not moderate or delete it,those questions are not spam let the dev answer all these so he can prove that the this coin is ok and legit.

My questions were deleted 25! times here before they leave it alone understanding that they can't ban me here.

But when i asked the same questions on Telegram what would you think happen? They banned me and deleted all my questions instantly claiming me a troll.

It was deleted 25 times because part of it was FUD. Now your questions have been answered because you formulated them correctly. So the issue has been solved.


Like I said before I will answer ANYTHING so please ask. As for the RED feedback I dont know what to do. We never said we couldn't be hacked the Lead Developer says he knows how to ensure we wont be hacked.

Okay so legit questions and legit concerns regarding a platfor is FUD. Will make a note on that.

Still waiting answers to my last questions to you.

[tehMoonwalker]

damn youre giving this guy a hard time. is there any ico where you can be 100% sure to receive everything that they promised?!

Im claiming this project because it has completely centralized project for which you wont be needed a blockchain. The only reason why they using ethereum network is because they want give a small incenvite (profit sharing) for people to invest in it.
There is no other part in their system where EthBits will be using Ethereum. Symply they dont need it!

It's the same as if you are starting an offline car sale business and asking for people to invest thought smart contract to get CarSale token. And assuring that if business will be profitable they will get a dividents. If not than well.... what can they do?

then dont invest in it, theres no reason to spread fear without proof.

[tokenmarket]

Hello everyone

We just want to confirm ONCE more time that Tokenmarket is one of the escrows of Ethbits ICO.

Thank you

[muleroaa]

Hey yo sucka - I'll be more than happy to shove this post up my own ass if you don't get scammed and if not, well tell me i'm a troll ofc...  

lol. If its a scam, how do you justify the, https://www.youtube.com/watch?v=ogGJ4eug7kI&t=438s

Have you watched it sucka?

I bet you'll feel really good with that post.

Ok, who is the guy in the interview? I don't see him on the team page? I find that very strange, you would think it would be Pedro J Rodriguez or Monty Sing, proud of their project, wanting to share their vision. This is a legit question.

[ethbits]

This was explained before. Some people have non crypto jobs. The link to  Crypto sounds strange when applying for new jobs in Nuclear Engineering work. People have their name googled these days its standard practice. Plus Matt is mainly an advisor and went to school with the CEO when they were young. He is helping us out as a start up and he chose not to be on the team page for the reasons I just answered.  Monty was busy that evening and Matt already new Alex from ICOCOUNTDOWN so he stood in. He even went to coinfest helping out Monty. You have to remember we are a start up and we need help where we can and from who ever is prepared to help.

Does that answer your question?

[jenifive]

damn youre giving this guy a hard time. is there any ico where you can be 100% sure to receive everything that they promised?!

Im claiming this project because it has completely centralized project for which you wont be needed a blockchain. The only reason why they using ethereum network is because they want give a small incenvite (profit sharing) for people to invest in it.
There is no other part in their system where EthBits will be using Ethereum. Symply they dont need it!

It's the same as if you are starting an offline car sale business and asking for people to invest thought smart contract to get CarSale token. And assuring that if business will be profitable they will get a dividents. If not than well.... what can they do?

then dont invest in it, theres no reason to spread fear without proof.

What proof are you waiting? When EthBits scam anyone?  I dont need to wait that long.

If you dont like my messages than dont read them and keep investing blindly.

[xdookiex]

damn youre giving this guy a hard time. is there any ico where you can be 100% sure to receive everything that they promised?!

Im claiming this project because it has completely centralized project for which you wont be needed a blockchain. The only reason why they using ethereum network is because they want give a small incenvite (profit sharing) for people to invest in it.
There is no other part in their system where EthBits will be using Ethereum. Symply they dont need it!

It's the same as if you are starting an offline car sale business and asking for people to invest thought smart contract to get CarSale token. And assuring that if business will be profitable they will get a dividents. If not than well.... what can they do?

then dont invest in it, theres no reason to spread fear without proof.

What proof are you waiting? When EthBits scam anyone?  I dont need to wait that long.

If you dont like my messages than dont read them and keep investing blindly.

Jen this is FUD "What proof are you waiting? When EthBits scam anyone?"

Jen, When they had their sig campaign, some bad apples got in. The bad apples have been dealt with thanks to the due diligence of the community.
Can you chill out with the FUD.

These guys have an escrow, were at coinfest, and have been interviewed by legitimate sources.

FFS just stop it Jen. You proved your point. Now leave.