[ANN][ICO] SOMA - The Social Marketplace

[tiger5056]

Is this contract affected by the parity issue on ethereum ?
Seem to be reading a lot about it online but it hasn't been fully explained in detail for non solidity experts.

https://motherboard.vice.com/en_us/article/ywbqmg/parity-multi-signature-wallet-vulnerability-300-million-hard-fork

I hope not. Without an Ethereum fork the funds in the wallets are locked forever. Or maybe a more accurate analogy would be the lock is gone and the money is stuck in a safe without a door.

Man, this guy made a lot of people miserable in an instant. Its pretty scary how can one mistake deal so much damage in so many wallets.

Well, not the first time there is a big hack in cryptocurrencies.

is SOMA fund affected  by this parity hack?

OMG a newbie developer is poised to explode PARITY! by accidentally tweaking codes in Github.

There's still a lot of work to do with the security of the system.

[cmg12]

Is this contract affected by the parity issue on ethereum ?
Seem to be reading a lot about it online but it hasn't been fully explained in detail for non solidity experts.

https://motherboard.vice.com/en_us/article/ywbqmg/parity-multi-signature-wallet-vulnerability-300-million-hard-fork

I hope not. Without an Ethereum fork the funds in the wallets are locked forever. Or maybe a more accurate analogy would be the lock is gone and the money is stuck in a safe without a door.

Man, this guy made a lot of people miserable in an instant. Its pretty scary how can one mistake deal so much damage in so many wallets.

Well, not the first time there is a big hack in cryptocurrencies.

It's still new technology and it's got some vulnerabilities

[cantdecide]

7 more days until the ICO will finish. I don't see any big movement in token sale currently, but that's probably good for the current investors as the token value will raise a lot then.

[niklasmato]

Is this contract affected by the parity issue on ethereum ?
Seem to be reading a lot about it online but it hasn't been fully explained in detail for non solidity experts.

https://motherboard.vice.com/en_us/article/ywbqmg/parity-multi-signature-wallet-vulnerability-300-million-hard-fork

I hope not. Without an Ethereum fork the funds in the wallets are locked forever. Or maybe a more accurate analogy would be the lock is gone and the money is stuck in a safe without a door.

Man, this guy made a lot of people miserable in an instant. Its pretty scary how can one mistake deal so much damage in so many wallets.

Would be better if he contacted the team instead of pressing that big, red button, but I do not think the Parity developers are free from blame. It is not even the first time this happened to them!

Such problems are definitly not bringing trust into crypto world. People who will have currently nothing to do probably think, if they read about this, that it's too dangerous to have their money in crypto.

Well we must understand that these are still the early days of crypto and icos .. this will probably not be the latest hack we will encounter.

[Rigorous]

I hoped other multisig wallets and their Github codes will be thoroughly tested and audited to prevent the same mistake from happening again.

Nope. Auditing is a waste of time. Just code scrum / agile and put it on the net as fast as possible. You snooze, you lose. What could possibly go wrong?

[fajarkus12]

7 more days until the ICO will finish. I don't see any big movement in token sale currently, but that's probably good for the current investors as the token value will raise a lot then.

Maybe big investors still hold bitcoin that's why there is no big movement for the funds. Maybe they will buy this coin on the exchange when hardfork complete. So it can make this coin price start climbing

[Yasemin]

I also think that soma can touch non crypto user, cause the platform seems to be very users friendly and the concept of soma is really easy to understand but disruptive.

This is quite possible. Their user interface is great and very intuitive and this can attract potential customers 

Thats what it should be, if its about community, they need to reach everyone outside of crypto too.
Actually only a few people in this world know crypto.

If you look at the history of money, it took about 400 years before people got used to paper money and accepted it. Creditcard only exist about 60 years? Not long ago. So we need big projects like SOMA to make more people aware of cryptocurrencies

[dipphongface]

1 ETH for the lottery? I will be throwing 1 just to try my luck. 

[toolucky98]

7 more days until the ICO will finish. I don't see any big movement in token sale currently, but that's probably good for the current investors as the token value will raise a lot then.

Maybe big investors still hold bitcoin that's why there is no big movement for the funds. Maybe they will buy this coin on the exchange when hardfork complete. So it can make this coin price start climbing

Maybe yes, so soma needs to have a very good plan about exchange listing.

1 ETH for the lottery? I will be throwing 1 just to try my luck. 

1 ETH for the lottery? I will be throwing 1 just to try my luck.

Is this a coincidence? 

[Piggy]

I also think that soma can touch non crypto user, cause the platform seems to be very users friendly and the concept of soma is really easy to understand but disruptive.

This is quite possible. Their user interface is great and very intuitive and this can attract potential customers 

Thats what it should be, if its about community, they need to reach everyone outside of crypto too.
Actually only a few people in this world know crypto.

As long as teams still continue for promotion much people will know about cryptocurrency included Soma project. Facebook and twitter is the best way for promotion, both have a lot of users

Im actually see a lot of ad while browsing the web, i think they are doing a good job on that field.

[fajarkus12]

7 more days until the ICO will finish. I don't see any big movement in token sale currently, but that's probably good for the current investors as the token value will raise a lot then.

Maybe big investors still hold bitcoin that's why there is no big movement for the funds. Maybe they will buy this coin on the exchange when hardfork complete. So it can make this coin price start climbing

Maybe yes, so soma needs to have a very good plan about exchange listing.

If during 7 days soma can announcement about planning to list on big exchange maybe investors who still hold bitcoin will consider to buy this coin, because exchange is something that everyone waiting for and can make this coin price grow

[niklasmato]

7 more days until the ICO will finish. I don't see any big movement in token sale currently, but that's probably good for the current investors as the token value will raise a lot then.

Maybe big investors still hold bitcoin that's why there is no big movement for the funds. Maybe they will buy this coin on the exchange when hardfork complete. So it can make this coin price start climbing

Maybe yes, so soma needs to have a very good plan about exchange listing.

If during 7 days soma can announcement about planning to list on big exchange maybe investors who still hold bitcoin will consider to buy this coin, because exchange is something that everyone waiting for and can make this coin price grow

Can someone remind me what will happen to the unsold tokens? They will get burned afaik?

[the_donald]

7 more days until the ICO will finish. I don't see any big movement in token sale currently, but that's probably good for the current investors as the token value will raise a lot then.

Maybe big investors still hold bitcoin that's why there is no big movement for the funds. Maybe they will buy this coin on the exchange when hardfork complete. So it can make this coin price start climbing

Maybe yes, so soma needs to have a very good plan about exchange listing.

If during 7 days soma can announcement about planning to list on big exchange maybe investors who still hold bitcoin will consider to buy this coin, because exchange is something that everyone waiting for and can make this coin price grow

Can someone remind me what will happen to the unsold tokens? They will get burned afaik?

yes they'll get burned, it's been confirmed a few pages ago

[mayaboti]

7 more days until the ICO will finish. I don't see any big movement in token sale currently, but that's probably good for the current investors as the token value will raise a lot then.

Maybe big investors still hold bitcoin that's why there is no big movement for the funds. Maybe they will buy this coin on the exchange when hardfork complete. So it can make this coin price start climbing

Maybe yes, so soma needs to have a very good plan about exchange listing.

If during 7 days soma can announcement about planning to list on big exchange maybe investors who still hold bitcoin will consider to buy this coin, because exchange is something that everyone waiting for and can make this coin price grow

Can someone remind me what will happen to the unsold tokens? They will get burned afaik?

unsold token will be burned they already mention it.

[toolucky98]

7 more days until the ICO will finish. I don't see any big movement in token sale currently, but that's probably good for the current investors as the token value will raise a lot then.

Maybe big investors still hold bitcoin that's why there is no big movement for the funds. Maybe they will buy this coin on the exchange when hardfork complete. So it can make this coin price start climbing

Maybe yes, so soma needs to have a very good plan about exchange listing.

If during 7 days soma can announcement about planning to list on big exchange maybe investors who still hold bitcoin will consider to buy this coin, because exchange is something that everyone waiting for and can make this coin price grow

Can someone remind me what will happen to the unsold tokens? They will get burned afaik?

yes they'll get burned, it's been confirmed a few pages ago

Yes, here is the confirmation :

Devs made official announce about burning tokens? May be they will burn them. Just wait announce  

As far as I know, there are no new announcements regarding the burning of unsold tokens. And here we have it again. Communication! The Soma team should try to interact more with the community.

Thats true!
There should be more communication coming from the devs in this thread.

I searched on Telegram and found this:
Mohd:
Just incase the hard cap wasn't reached what will happen to the left tokens?

[16:51:36] Joseph:
@mohdsuwaidi they will be burned


This is coming from:
Joseph al Sharif (Co-Founder)

So let all stop the discussion now

[Mystic90]

About the SOMA use of funds after ico:

35% Marketing and area launches
20% Product development and technology
20% Legal issues and patents
15% Operational team
10% Community reward (We’ll reward the ambassadors and marketers of the community)

Why is there 20% needed for legal issues?

[cantdecide]

About the SOMA use of funds after ico:

35% Marketing and area launches
20% Product development and technology
20% Legal issues and patents
15% Operational team
10% Community reward (We’ll reward the ambassadors and marketers of the community)

Why is there 20% needed for legal issues?

Probably because you have to pay attantion to different rules in different countries? I think it's not that easy to work on a legal base in every country, because you can't just go with the same user agreements in every country as there are different regulations.

[Piggy]

exactly each country has his own taxation system and percentage for example

[magisterr]

About the SOMA use of funds after ico:

35% Marketing and area launches
20% Product development and technology
20% Legal issues and patents
15% Operational team
10% Community reward (We’ll reward the ambassadors and marketers of the community)

Why is there 20% needed for legal issues?

They must have license for trade in goods for example, and also pay other taxes. For first time they will dont have profit.

[levyashin]

About the SOMA use of funds after ico:

35% Marketing and area launches
20% Product development and technology
20% Legal issues and patents
15% Operational team
10% Community reward (We’ll reward the ambassadors and marketers of the community)

Why is there 20% needed for legal issues?

Probably because you have to pay attantion to different rules in different countries? I think it's not that easy to work on a legal base in every country, because you can't just go with the same user agreements in every country as there are different regulations.

Yes probably with it. Besides you can never predict what can a lawsuit you will face in future. I can understand that allocation.