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Author Topic: [ANN] WiC | Rent Your WiFi | New Thread Announced  (Read 50766 times)
Lambo06
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April 20, 2017, 09:53:47 PM
 #341

interesting idea, although I do believe Wifi should be free  Wink

This will take time to grow though I believe. If I were doing this I would of started in my local city, build a user base to see how well the idea is adopted then moving to an ICO and expanding.

Hopefully you have enough cash from the ICO for marketing, this will need to be marketed heavily.

Keeping on eye on this one though definitely worth watching.

Not sure if it's just me but does it seem unfair for the early investors that 64% of the coins are mine able? imo a bigger portion of the coins should go towards investors and maybe 25-30% towards mining.

25% of coins with a cap of 750 BTC...project value at 3000 BTC. That valuation seems a tad high.

Hey thanks for the support! We understand extensive marketing is required for this app to be popular among everyone and not just with those that understand crypto currencies. You will be happy to know that an online ad campaign, on a trial basis, will be started from tomorrow. As for the coin allocation, we gave it a careful thought and decided that 25% coins for fundraising should be good enough for our marketing and development needs. The 3000 BTC market cap is minuscule in comparison to the potential of this app and we expect the price to rise much more than the ICO price after launch.
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shideneyu
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April 20, 2017, 10:23:33 PM
 #342

There are some big issues. Too many coins to mine, ICO is flawed completely.

Let's say the total investment of that ICO is 2000 BTC, because that's really a beautiful project and this is possible.

That means that for each BTC invested, each investor gets 12500 WICS (25000000/2000).

That means that theoritically, each WIC is worth 0.096 Dollars (1200/12500).

Each password makes people earn 100 WIC. So 9.6 Dollars. What the hell ? And that Mining issue of yours !!! 75% of total supply remains, so every investors will lose money.


And  10000 WiC for an article for the bounty ??! That means 960 dollars !

SOOOOOOOOOOOOOO.

If the ICO raises 200 BTC this time: 10 000 wic will this time be worth 96 dollars.
If the ICO raises 20 BTC. This means 9.6 dollars per article, it's more fair like this.


This is so gross... I must have made mistakes with my calculations ?? How can we be sure ICO investors won't lose money due to this awkward mecanism ? If you raise more than 50 BTC, every investors will be sure to lose money. You have to make us trust that we can invest on it. It's important.


And in a technical matter this time:

Quote
We can manually check if there has been any botting or any other mischief and ban that user.

Who checks, and who bans ? Can we interact with the blockchain for validating an access point without using your mobile application ? -> So... Is the application open source ? If not, how can we be sure that you don't bypass the system by registering passwords yourself ?

I know you don't have a white paper but you have to address those legitimate fears please.

Lambo06
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April 20, 2017, 10:39:57 PM
 #343

There are some big issues. Too many coins to mine, ICO is flawed completely.

Let's say the total investment of that ICO is 2000 BTC, because that's really a beautiful project and this is possible.

That means that for each BTC invested, each investor gets 12500 WICS (25000000/2000).

That means that theoritically, each WIC is worth 0.096 Dollars (1200/12500).

Each password makes people earn 100 WIC. So 9.6 Dollars. What the hell ? And that Mining issue of yours !!! 75% of total supply remains, so every investors will lose money.


And  10000 WiC for an article for the bounty ??! That means 960 dollars !

SOOOOOOOOOOOOOO.

If the ICO raises 200 BTC this time: 10 000 wic will this time be worth 96 dollars.
If the ICO raises 20 BTC. This means 9.6 dollars per article, it's more fair like this.


This is so gross... I must have made mistakes with my calculations ?? How can we be sure ICO investors won't lose money due to this awkward mecanism ? If you raise more than 50 BTC, every investors will be sure to lose money. You have to make us trust that we can invest on it. It's important.


And in a technical matter this time:

Quote
We can manually check if there has been any botting or any other mischief and ban that user.

Who checks, and who bans ? Can we interact with the blockchain for validating an access point without using your mobile application ? -> So... Is the application open source ? If not, how can we be sure that you don't bypass the system by registering passwords yourself ?

I know you don't have a white paper but you have to address those legitimate fears please.



Hey shideneyu,

There is a max BTC cap for the ICO at 750 BTC which makes each WiC worth 0.00003 BTC (750/25,000,000) so the max each WiC is worth is $0.036 (0.0003 * 1200).

That makes the article bounty = 0.3 BTC (0.0003 * 10,000)

Each password will be 100 WiC which is (if the ICO sells out) = 0.003 BTC or $3.50 approximately.

Note this is assuming that the ICO sells out. If it doesn't, the numbers are even lower.

I don't know how you got the numbers you got but they are not even close to the real numbers. Don't worry we have given it a good thought!

Also, the app is not open source and you will have to honestly trust us that we won't be uploading the passwords ourselves. It would actually be very irrational and unprofitable for us to do that since the app could generate much more revenue.
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April 20, 2017, 10:42:01 PM
 #344

lol newbie account trying to spread fud  Tongue
Lambo06
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April 20, 2017, 10:53:03 PM
 #345

WiC ICO begins in less than 2 days! #DontMissOut https://www.tickcounter.com/countdown/112308/wic-ico-launch

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April 20, 2017, 11:00:46 PM
 #346

Thank you for your answer (and fast on top of it, that's cool Smiley ).

Quote
That makes the article bounty = 0.3 BTC (0.0003 * 10,000)

That's completely crazy... if the ICO runs too well, investors are really going to lose money...


Quote
Also, the app is not open source and you will have to honestly trust us that we won't be uploading the passwords ourselves. It would actually be very irrational and unprofitable for us to do that since the app could generate much more revenue.

Why using the blockchain if this is not an open source project ? You can do this in a centralized manner in an ever better way. I really like you project. I do. But investors will flee when they will discover this.

So how do we interact with the blockchain if only the mobile application has access to it? (we can't). This is a private blockchain...


Last question, why is there a limit of 100 000 access points declarations ? It would be logic that it would be unlimited, since there's billions of them in the world.



@kashish948, I'm here since 2012. It's just that I do not post often. You're the only newb here. And I'm not fudding, I'm adressing legitimates questions prior to an investment.
Lambo06
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April 20, 2017, 11:23:23 PM
 #347

Thank you for your answer (and fast on top of it, that's cool Smiley ).

Quote
That makes the article bounty = 0.3 BTC (0.0003 * 10,000)

That's completely crazy... if the ICO runs too well, investors are really going to lose money...


Quote
Also, the app is not open source and you will have to honestly trust us that we won't be uploading the passwords ourselves. It would actually be very irrational and unprofitable for us to do that since the app could generate much more revenue.

Why using the blockchain if this is not an open source project ? You can do this in a centralized manner in an ever better way. I really like you project. I do. But investors will flee when they will discover this.

So how do we interact with the blockchain if only the mobile application has access to it? (we can't). This is a private blockchain...


Last question, why is there a limit of 100 000 access points declarations ? It would be logic that it would be unlimited, since there's billions of them in the world.



@kashish948, I'm here since 2012. It's just that I do not post often. You're the only newb here. And I'm not fudding, I'm adressing legitimates questions prior to an investment.

Hey, don't worry about asking questions. Its your right even if you do not intend to invest. Smiley

Why do you think 0.3 BTC for an article/blog/video is completely crazy? Keep in mind these are also a source of advertisement and a lot of users read these. Also, the owners have spent years creating a following for their blogs or other websites and 0.3 BTC (MAXIMUM) is something I feel they deserve.

If the ICO runs well, it will be most beneficial to the investors. Let me explain:

1) Since, all ICO coins are proportionately divided among investors, you can be sure that we are not overcharging you and what you pay is the real true value of WiC decided independently by market forces.

2) Now if we reach the max cap of 750 BTC that means that more people wanted to buy WiC but we stopped and did not accept more investments. This in turn mean that the investors that got accepted now have WiC at a cheaper rate than the true value (because more investment would increase WiC value). That's a big advantage to investors.

Hence, in both scenarios investors either get WiC at the true value (less than 750 BTC investment) or at a better than true value (investment caps at 750 BTC)

Also, this is not a private blockchain. You will be able to use WiC to trade and exchange like any other crypto currency, the addition being in app rewards - which is not open source but the WiC coin movement can be tracked on the blockchain, Also, only the initial distribution (100 WiC per password) is where we play a part and after that users will be renting the WiFi directly from uploaders.

There is no limit on the number of connections that will be uploaded. You have misunderstood the 100,000 passwords number that you see in the OP. That is the WiC initial reward allocation / WiC reward per password which is 100,000,000 / 100 = 100,000 passwords.

You might also be interested in knowing that we are having a lucky draw for investors as well. All details at: https://bitcointalk.org/index.php?topic=1869125.msg18667097#msg18667097

Thanks for taking interest!
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April 21, 2017, 07:21:54 AM
 #348

Some new blogs/articles and video review for WiC

http://btcupload.com/video/wi-coin-wic-the-killer-app-of-the-crypto-world
https://steemit.com/crypto/@btcupload/wi-coin-wic-the-killer-app-of-the-crypto-world-participate-in-the-ico

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April 21, 2017, 07:42:02 AM
 #349

this is one of the most well conducted ico i have seen in recent times....using the single multi wallet address was a sensible step, and good escrow team. i would trust blazed n minerjones with any amount
only if they didnt sell their accounts to another?, there's no security in this,...as weve seen on a number of failed projects here, a full bio with proof of ownership of each account would alleviate the headache

A THIEF IN SOCIETY IS WORSE THAN POND-LIFE, BUT TO UNDERESTIMATE YOUR MARK IS YOUR STUPIDITY TO YOUR DOWNFALL,
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April 21, 2017, 07:55:19 AM
 #350

this is one of the most well conducted ico i have seen in recent times....using the single multi wallet address was a sensible step, and good escrow team. i would trust blazed n minerjones with any amount
only if they didnt sell their accounts to another?, there's no security in this,...as weve seen on a number of failed projects here, a full bio with proof of ownership of each account would alleviate the headache

Hey, as you see our escrow team is very well reputed and has handled a lot of ICO escrows including the Ark ICO. Also, both the escrows, Blazed - Bitrated and minerjones - Bitrated will be posting signed messages so you can be sure its them posting it and the accounts are not compromised.

Also, in order to increase security, we have kept a single escrow address that will be posted here (not on any other site) and held in a 2 of 3 multi sig wallet.

Thanks!
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April 21, 2017, 07:58:30 AM
 #351

nice 1 thx for the reply, puts my  mind at rest a little, after seeing an associate from bitcoin garden i freaked lol

A THIEF IN SOCIETY IS WORSE THAN POND-LIFE, BUT TO UNDERESTIMATE YOUR MARK IS YOUR STUPIDITY TO YOUR DOWNFALL,
Lambo06
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April 21, 2017, 08:10:34 AM
 #352

nice 1 thx for the reply, puts my  mind at rest a little, after seeing an associate from bitcoin garden i freaked lol

Great, thanks Smiley
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April 21, 2017, 08:51:12 AM
 #353


great to see wic get so much attention in just a few days....
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April 21, 2017, 10:20:55 AM
 #354

WiC ICO begins in less than 2 days! #DontMissOut https://www.tickcounter.com/countdown/112308/wic-ico-launch


so the escrow address will be available when timer hits 0?
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April 21, 2017, 11:47:48 AM
 #355


so the escrow address will be available when timer hits 0?

Yes, that's right.

https://www.tickcounter.com/countdown/112308/wic-ico-launch
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April 21, 2017, 02:31:02 PM
 #356


so the escrow address will be available when timer hits 0?

Yes, that's right.

https://www.tickcounter.com/countdown/112308/wic-ico-launch

cool thanks.... will be here, dont wanna miss out like i did on one which sold out in the first couple hours  Undecided
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April 21, 2017, 02:57:19 PM
 #357

Complete to joined Facebook and Twitter campaign
https://docs.google.com/forms/d/e/1FAIpQLSdCs17CLN4clgj0jEdoDoH8vqEkxUpDO4ppNcOa22kb-jfCJA/formResponse

CHANGE — First Decentralised Global Crypto Bank | ICO | DISCUSSION
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April 21, 2017, 03:08:53 PM
 #358

Already completed to like and share on Facebook

https://m.facebook.com/WiC-1411131028954062/

CHANGE — First Decentralised Global Crypto Bank | ICO | DISCUSSION
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April 21, 2017, 03:34:25 PM
 #359

Joined to Facebook and Twitter campaign complete https://docs.google.com/forms/d/e/1FAIpQLSdCs17CLN4clgj0jEdoDoH8vqEkxUpDO4ppNcOa22kb-jfCJA/formResponse
Like and share on Facebook complete https://m.facebook.com/WiC-1411131028954062/

Retweet on Twitter https://mobile.twitter.com/WiC_Crypto


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April 21, 2017, 04:44:00 PM
 #360

this is one of the most well conducted ico i have seen in recent times....using the single multi wallet address was a sensible step, and good escrow team. i would trust blazed n minerjones with any amount
only if they didnt sell their accounts to another?, there's no security in this,...as weve seen on a number of failed projects here, a full bio with proof of ownership of each account would alleviate the headache

U can say it was well conducted only after selling ur stake at three times higher price than ur buying price. Its safe to describe their ICO as such after it hits polo and gets propelled up. Though I will be highly interested in buying a chunk below ico levels. Fat rats will eventually ride the price below ico to filter out weak hands so I can scoop up some more coins with a significant discount.

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