[SNT] Official Status Network Speculation

[Bowtiesarecool]

Anybody's got a link to the ICO?

[codemanX]

50 Millions, are you sure? We get 10000 SNT for 1 ETH, so the crowdsale is over after 5000 ETH?

[mdkb]

50 Millions, are you sure? We get 10000 SNT for 1 ETH, so the crowdsale is over after 5000 ETH?

if this gets widespread interest, then expect the same issue as Bancor ICO;
MEW nodes crashing, purchases hung pending, followed by cancelled tx and money returned a few hours after ICO closes, with loss of fee.
an ICO team get rich, while stating you lost out because their network suffered 'massive attacks'
and no one in the US is welcome to join it... because they might sue them.

[holden.commodore]

50 Millions, are you sure? We get 10000 SNT for 1 ETH, so the crowdsale is over after 5000 ETH?

Well it is writen in their whitepaper that "The number of SNT created depends on the amount of contributions received by the
smart contract."

And also: "The Contribution Period will run for a period of 14 days, or within 24 hours of reaching the
first ceiling, of 12M CHF (Swiss Francs) equivalent in ETH, having been reached."

By doing math you will know that for reaching the ceiling 36444.54 ETH must be invested so there will be 364.440 m Status tokens at maximum.

[sentinal]

max is 360 Million coins? Similar to SONM then. If so, you're getting a much better deal here with 10,000 SNT for your 1 eth. This looks like it aims to allow common people to utilize the best of the ethereum network on their phones? Looks great tbh, tell me how I'm missing this 1?

[thecryptoconsultant]

sorry guys, I miss a 0 earlier in the thread saying there will be only 50m coins.

About 12 M CHF = about 12 MUSD

1ETH = about 300 USD

12 000 000 / 300 = 40 000 ETH to be raised

1ETH = 10 000 SNT

40 000 * 10 000 = 400 M SNT

If price of ETH goes to 250 USD then 480 M SNT

If price of ETH goes to 350 USD then 340 M SNT


Hope this helps,

Victor

[BinaryIsPrimary]

Did anyone found sth about the founders Carl (Matthew Edgar) Bennetts and Jarrad Hope?

I only found twitter profiles and linkedin profiles. On the linkedin profiles I couldn't find any previous projects or anything. The thing I noticed though was that the experience confirmations of both Jarrad and Carl where all from the same group of people (in each profile, no cross-profile-relations), so there was very little distribution in them. I don't really use linkedin but that seemed weired to me.

On the plus the project is open source, but I didn't looked at the code so far, anyone else here?

The registered Company is the swiss 'Status Research & Development Gmbh' which has Patrick Karl Storchenegger, Carl Matthew Edgar Bennets and Jarrad Hope listed as managing directors. Storchenegger is working at a few other companies including law consultations and the swiss SPB TV SA which is a provider of "end-to-end OTT TV, IP TV and mobile TV solutions for video content delivery to multiscreen devices" (https://en.wikipedia.org/wiki/SPB_TV).

€dit:

One previous company of both Carl and Jarrad was CAJ Media (http://cajmedia.co.uk/ http://nzlcompany.com/company/caj-media-limited-cr9Q http://www.nzcompanygo.com/Caj-Media-Limited-2463230/) which was registered from 14 May 2010 to 07 Jul 2011 in New Zealand and seems to be registered in London now.

[burner2015]

I wrote down what I found so far:  https://steemit.com/cryptocurrency/@christbkk/status-in-ico-worth-investing

[idontcare]

They already raised over 5 million CHF through bitcoinsuisse.

[idontcare]

Not sure if I will be investing, I find it very hard to trust any team that doesn't have a bitcointalk ANN where they can be asked questions and defend their product.

[holden.commodore]

Did anyone found sth about the founders Carl (Matthew Edgar) Bennetts and Jarrad Hope?

I only found twitter profiles and linkedin profiles. On the linkedin profiles I couldn't find any previous projects or anything. The thing I noticed though was that the experience confirmations of both Jarrad and Carl where all from the same group of people (in each profile, no cross-profile-relations), so there was very little distribution in them. I don't really use linkedin but that seemed weired to me.

On the plus the project is open source, but I didn't looked at the code so far, anyone else here?

The registered Company is the swiss 'Status Research & Development Gmbh' which has Patrick Karl Storchenegger, Carl Matthew Edgar Bennets and Jarrad Hope listed as managing directors. Storchenegger is working at a few other companies including law consultations and the swiss SPB TV SA which is a provider of "end-to-end OTT TV, IP TV and mobile TV solutions for video content delivery to multiscreen devices" (https://en.wikipedia.org/wiki/SPB_TV).

€dit:

One previous company of both Carl and Jarrad was CAJ Media (http://cajmedia.co.uk/ http:/nzlcompany.com/company/caj-media-limited-cr9Q http://www.nzcompanygo.com/Caj-Media-Limited-2463230/) which was registered from 14 May 2010 to 07 Jul 2011 in New Zealand and seems to be registered in London now.

I really don't think this is a scam, look at their followers on twitter... Brian Armstrong (coinbase CEO) follows Carl Bennetts. Also, both have a lot of serious crypto projects as followers.
Their project is in yahoo, which is difficult for criptocurrencies: https://finance.yahoo.com/news/status-im-ethereum-mobile-client-010000903.html

[Teraboy]

Not sure if I will be investing, I find it very hard to trust any team that doesn't have a bitcointalk ANN where they can be asked questions and defend their product.

But do you ever seen the thread of aragon and gnosis was exist on the bitcointalk? and i can say no for that. because the good project will have massive supporters at the early strat of it. I think it will be reasonable.

[Lexycon]

Hey guys,

just a question, the exchange will be 1 ETH = 10000 SNT.
Does this mean the minimum buy in will be 1 ETH, or is it possible to change only 0.5 ETH in SNT?

Thank you
Lexycon

[coinchart]

Does anyone understand the dynamic ceiling they are implementing and care to elaborate how that translates into actual investment constraints?  It's sounded like from what I read above they are aiming to make large investor do a series of transactions to increase there costs via fees.  That doesn't sound like it would hinder them much.  What is considered small vs large?

[poiseulle]

50 Millions, are you sure? We get 10000 SNT for 1 ETH, so the crowdsale is over after 5000 ETH?

if this gets widespread interest, then expect the same issue as Bancor ICO;
MEW nodes crashing, purchases hung pending, followed by cancelled tx and money returned a few hours after ICO closes, with loss of fee.
an ICO team get rich, while stating you lost out because their network suffered 'massive attacks'
and no one in the US is welcome to join it... because they might sue them.

Is this what happened to Bancor ICO? what a mess! they can't handle ICO properly.

So if everyone wants to buy, then the ones with faster internet get into ICO?

[daniweb]

so the total suply is 50M coins, this means 5000 ETH? In this case the ico will be sold in few minutes.

[styca]

Does anyone understand the dynamic ceiling they are implementing and care to elaborate how that translates into actual investment constraints?  It's sounded like from what I read above they are aiming to make large investor do a series of transactions to increase there costs via fees.  That doesn't sound like it would hinder them much.  What is considered small vs large?

I understood it the same way you have. A series of ceilings means that to put a lot of money into the ICO you'd have to do multiple transactions. Also I think I read that transactions with gas prices higher than 50 gwei are automatically rejected, so this might stop the whale queue-jumping that happened with BAT.
Not sure if it will work or not, but at least they're trying.

[raymonddaf]

I see the ico starts on a specific block no is there a way in myetherwsllet of setting it up in advance that the funds are sent on that specific block no?

If not myetherwsllet can another wallet do this?

[lacal]

Hi,

"The Contribution Period will start on June 20th 2017 at 2pm GMT (UTC+0) (This was recently updated, learn more) and will end on 4th July 2017 at 2pm GMT (UTC+0), or within 24 hours after the First Ceiling has been reached."

So even if 12M CHF are reached in few minutes, investment can continue 24h, so there are no real limit ?

(The first ceilling are 12M CHF ? I don't found the link who mention that, if anyone have it... )

[animosity2k1]

Can anyone confirm if this ICO is open to US citizens? Thanks.