[ANN][ICO]COSS Token Swap ICO is LIVE

[MaxDamageCZ]

Can someone please explain this to me? I promise to buy as much COSS as I can, it seems to have a lot of potential, as long as someone dispels my concern.

https://image.ibb.co/c6K63w/WHAT_IS_VEROS.png

[Mark537]

I have a question - on the homepage (coss.io), when you hover over "Payment gateway", "Exchange" or "Pre-paid cards", it mentions a cryptocurrency called VEROS among the biggest ones like BTC and ETH. Why advertise a dead coin with 30k marketcap? Are they somehow associated with it? Why would you mention a literal scam so many times on the very home page?

https://steemit.com/cryptocurrency/@exdev/veros-the-cryptocurrency-a-scam

This should be addresed

[verb]

Sure, but you can find everything you need on the individual twitter accounts of the team members, like Dan Cearnau or Ioana Frincu
https://150sec.com/romanian-company-launches-fintech-product-in-asia-as-their-first-market/

"By giving them the opportunity to access quality financial services as this one, we are basically giving them the resources to access any kind of financial services. It has a friendly interface and an accessible environment available to any individual connected to the Internet. VEROS is a game-changer product available in China, South Korea, India, Malaysia and Singapore. says Dan Cearnau, CEO of Under Development Office" (i.e. creator of VEROS)

Under Development Office is listed as a strategic partner for COSS, and if you look at UDOs' team, most of them are in COSS.

The end of the article mentions: "In 2017 VEROS is evolving into a Crypto One Stop Solution. This represents an integrated financial solution, bringing together an exchange environment, a common point for all cryptocurrencies and a payment platform both online and on-site for merchants." Note that COSS is marketed as a One Stop Solution.

Now I'm not suggesting anything, because I wasn't in VRS (as a trader) and don't really know how that ended. I came across this thread here that shows a lot of unhappy investors: https://bitcointalk.org/index.php?topic=1839307.0;all

COSS seems like a much bigger deal and as of this moment I like everything about its functionality and rewards system, but would like to read some clarifications.

This is the link between VRS and COSS. As far as I know they didn't tackle the issue to explain things. COSS on the other hand is a much bigger project, with more people involved than VRS, and it's getting a lot of traction from all over the cryptosphere. We'll see how the 1st payment goes after the weekend and we'll get a clearer view. Could also mean a VRS revival, so watch out for a potential 10-50x

[TheKingInYellow]

Very excited to see how the first distribution plays out~ Wouldn't mind seeing Veros removed from the payment blurb as well. Replace it with Bitbean and we're going somewhere 

[Wooser]

I get the association with VEROS is sketchy.　If I'd caught it during ICO I would've assumed this was a "take the money and run instead of doing what they said they'd do" game.

But if this is a scam then what is the scam?
The exchange is up and running.  It works.  It's listing coins.  You can buy things on it and sell them, and transfer them to your MEW.  I've done it, so have tons of people. They have strict KYC procedures (You can't trade over 2k a day without providing some ID) and a responsive support team that I've emailed with.

Why would they put in strict KYC procedures for their exchange if this is a fly by night operation?  They're costing themselves serious money by restricting their exchange volume in this way.  You'd only do that if you were planning on staying open for a while.

It can't be a "take the money and run" thing, because they took the money to build an exchange, and built a working exchange.
They can't be planning on not doing the payouts, because the formula for the amount of money you should be getting is easily calculable, the order books are all public, and the CEO's name is attached to the project. If he tried to defraud investors like that he'd go to jail.  Why risk that when the exchange is up and working and making money?

So if you think it's a scam, what, exactly, do you think they're going to do?

[Coinadvisory]

Can anyone clarify, what was the final price for coss in ether?

Was it like 1 ether = 600 or what?

[Languett89]

Maybe because they're slowly but surely getting back the ICO tokens through the exchange, since most % is done on the initial coss.io exchange, so of all 0.2% COSS token fees on the exchange to trade, they get 0.1% back throught smart contract, maybe some people would call it a scam, THO it is a business model, not a scam, they clearly stated it in the whitepaper, website, everywhere.

Lets say: Today: Example:

#   Currency   Pair   Volume (24h)   Price   Volume (%)   Updated
1    COSSCOSS    COSS/ETH    $225,810    $0.088886    50.87%    Recently

so 225810$ of COSS x 0.002 (0.2%) = 451.62 USD = 50% goes to Coss.io
so 225.81$, in term of COSS itd be 2540.4450645 COSS they've taken back in a day theorically
(at 0.088886 USD/COSS worth)

Question is: How long until they own most of the initial ICO token (basically got they're shares of exchange revenu back from ICO distribution) and make another ICO with the remaining tokens and do the same?

BUT THEN, it is all about legality, all they're names are everywhere, they can't just dissapear.
Legal, but questionably ethical.
I have made a good profit from COSS so far, so I have nothing to complain.
This is just a theoretical and personal view and hypothesis.  

PS: Thats an example, excluding BTC/COSS pair on COSS which is also at around 100k ATM.

[kirkcoin]

I think coss is only exchangeable in etherdelta platform for now. Are there any exchange for trade coss? If is not, are there any news on the exchanges ? When polo

[27aume]

Yes feel like its pretty accurate Up there
 
For now, i can only say THANKS COSS hahahahahha

[27aume]

I think coss is only exchangeable in etherdelta platform for now. Are there any exchange for trade coss? If is not, are there any news on the exchanges ? When polo

Give a look at CMC to know what exchange tade COSS  

[Coinadvisory]

I think coss is only exchangeable in etherdelta platform for now. Are there any exchange for trade coss? If is not, are there any news on the exchanges ? When polo

Hitbtc as well

[jesselivermore]

Weekly payments are good. I already like you)

[Languett89]

Weekly payments are good. I already like you)

First one is scheduled sunday 8th

[Coinadvisory]

It's said on the EXCHANGE, that balance will appear after 1 block confirmation.

I already have about 20, still see 0 in my account... Not good, i can't deposit COSS to COSS exchange xD

[Coinadvisory]

It's said on the EXCHANGE, that balance will appear after 1 block confirmation.

I already have about 20, still see 0 in my account... Not good, i can't deposit COSS to COSS exchange xD

Everything is fine, sorry to be impatient. Good luck Coss, arbitraged your coins with hitbtc). Will keep in mind that exchange when arbitrage/trade.

[Coinadvisory]

As far as i am trader (not investor), I use about 7 exchanges daily.

There are some notes for Coss to thing about (if they care)

1)Order books need to be seen on both sides at first page (without a need for additional scroll). It isn't convenient to scroll at the bottom through all the sells and buys. As well as, if you want to scroll to bids, you need to click somewhere away from asks, otherwise you scroll asks all the way down.

2)While I was waiting and searching for trades, exchange dropped me like 5-6 times, that's too fast.

3) On the tab - https://exchange.coss.io/pair/eth-btc, when I scroll the left part of the page( currency pairs), when i end up with the list, the right side also starts to scroll down, which is not needed.

4)Graphs of the currencies look awful right not, not informative at all. And grey colour isn't easy to get.

5)There is no need in the upper bar with deposit/withdraw, right from the page. Unless, you want your exchange to be only for arbitrage trading.

6)Haven't found any "my orders" page, which would accumulate all orders i have on the exchange. Maybe it is somewhere, but i don't see it.

7)When i am on the exchange site, I don't need to see TEAM/Merchants/..., i want to have everything to trade. Exchange is not your ICO website, you can use your space wiser.

It's just my IMHO, if you are interested in such help, i can continue on investigating the exchange structure.

[zecon]

Currently selling for less than 1/5 the ICO price. Strong volume, easy buy.

[Languett89]

Currently selling for less than 1/5 the ICO price. Strong volume, easy buy.

ico price was 1 eth / 6000 coss, it was 0.033, right now its trading 3 times ico price

[Wooser]

The exchange's representatives have been active in the slack,soliciting feedback and making a list of improvements for the exchange.
I've been extremely impressed with their responses and encourage anyone who has questions to go visit them.

https://cosstokenswap.slack.com is the link.

Regarding the VEROS scam accusations:
From talking with the dev, here is the deal: Some of the dev team for COSS (Not the entire team. It is NOT the same company) worked with a cryptocurrency called VEROS earlier this year. VEROS was an ERC-20 currency token that ran on the etherium blockchain.  To encourage users of the currency to bring in more people to the community, most of the currency was locked up at the start, and that as more people were brought to the platform, it would be unlocked. It was neither an MLM nor a scam, it was used in a number of stores, there were ATMs that accepted it, and it did okay for itself.  But it had a fatal flaw: under the system, the VEROS company would have to pay the gwei for gas transactions.  This worked fine when ETH was 10$, but as ETH grew to 20$, then 50$, then 100$...  The gas transactions became so expensive that the business model was unsustainable and the business had to close down.

There's an important lesson there about the future of the Etherium blockchain, but that's off topic.

VEROS also got involved with an affiliate called Excallit, which was a pure MLM scheme.  If you google "veros scam" most of what you see relates to Excallit.  Veros's team wrote the marketing plan as a consulting job.  This was a mistake, and the community representative has owned up to it.  He was neither defensive nor evasive about it.  I was very impressed with his openness and willingness to talk to people.

If this was at ICO stage, I wouldn't touch it.  MLMs are sleazy stuff and even the slightest hint of association with one would turn me off.  But we are not at ICO stage.  The exchange is up, running, and working beautifully for a new product: It did 500,000$ of business today, according to coinmarketcpa, and handled it all without a hitch.  It's better looking and more pleasant to use than both coinexchange.io and liqui.io, and I personally prefer the design to bittrex. I've spoken with both their community representatives and their support team and I've been happy with them both.  

This product is a beauty, and I'm glad I bought a giant stack of the coins.  Since COSS shares the fees, it means that I'll be getting paid in whatever the most popular coin is.  My first payment comes out in Sunday.  Exchange volume is still small, so I won't be getting much, but I should be getting some SUB, ARK, BTC, and of course, even more COSS.  It's like proof of stake, except instead of being paid in more COSS I get paid in whatever most people are trading.  

[Boseda]

Currently selling for less than 1/5 the ICO price. Strong volume, easy buy.

Why do say that? I see COSS token price on etherdelta much higher than ICO price...maybe you didn't reckon it so well.