Bitcoin Forum
January 20, 2020, 05:04:00 PM *
News: Latest Bitcoin Core release: 0.19.0.1 [Torrent]
 
   Home   Help Search Login Register More  
Pages: « 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 [36] 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 ... 199 »
  Print  
Author Topic: [SKY] Skycoin Launch Announcement  (Read 379751 times)
PaulWang
Newbie
*
Offline Offline

Activity: 17
Merit: 0


View Profile
April 18, 2014, 06:29:30 PM
 #701

1 million coins (1%) will be sold for 50k in Bitcoin.

What? If there is no need to have a get-rich plan for people, there in no need to have a get-poor plan either. How the investors see the value? You do understand that angel investors normally want 100s fold profit if they bet correctly, right?
1579539840
Hero Member
*
Offline Offline

Posts: 1579539840

View Profile Personal Message (Offline)

Ignore
1579539840
Reply with quote  #2

1579539840
Report to moderator
1579539840
Hero Member
*
Offline Offline

Posts: 1579539840

View Profile Personal Message (Offline)

Ignore
1579539840
Reply with quote  #2

1579539840
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1579539840
Hero Member
*
Offline Offline

Posts: 1579539840

View Profile Personal Message (Offline)

Ignore
1579539840
Reply with quote  #2

1579539840
Report to moderator
1579539840
Hero Member
*
Offline Offline

Posts: 1579539840

View Profile Personal Message (Offline)

Ignore
1579539840
Reply with quote  #2

1579539840
Report to moderator
1579539840
Hero Member
*
Offline Offline

Posts: 1579539840

View Profile Personal Message (Offline)

Ignore
1579539840
Reply with quote  #2

1579539840
Report to moderator
Sarkan
Newbie
*
Offline Offline

Activity: 16
Merit: 0


View Profile
April 18, 2014, 08:25:22 PM
 #702

You're fucking kiddin? 1% IPO? Seriously?

More studip IPO I only saw once. Actually seeing it right now https://bitcointalk.org/index.php?topic=570750.0
Those assholes sell 0.5% coins for 0.0005, 0.001 and 0.002 Btc in three stages Smiley More of that! It's Bitcointalk coin so they'll send all coins to users for free. I can't imaging how retarded someone should be to invest in such IPO. Not surprisingly they only gathered less than 1 Btc during stages 1 and 2.

But you guys with your 1% for $50K a seriuo candidate for the second studipidity place.
dzarmush
Legendary
*
Offline Offline

Activity: 1736
Merit: 1001


View Profile
April 18, 2014, 08:27:56 PM
 #703

That is really disappointing. I've been watching this thread for a loooong time just to find out that you want to sell 1% coins for 50'000 dollars and don't even mention about other 99%. Good luck with your business plan.

LemonAndFries
Sr. Member
****
Offline Offline

Activity: 462
Merit: 250


View Profile
April 18, 2014, 09:08:30 PM
 #704

disappointing after waiting for so long.
lemfuture
Hero Member
*****
Offline Offline

Activity: 658
Merit: 500


View Profile
April 18, 2014, 09:36:44 PM
 #705

kind of like what they did with ripple ipo

1ADLcfwTofFXb95pKhebpeRkJ4WTWsvQXB
wizzardTim
Legendary
*
Offline Offline

Activity: 1708
Merit: 1000


Reality is stranger than fiction


View Profile
April 18, 2014, 10:59:57 PM
 #706

Totally disappointed

Behold the Tangle Mysteries! Dare to know It's truth.

- Excerpt from the IOTA Sacred Texts Vol. I
skycoin
Hero Member
*****
Offline Offline

Activity: 498
Merit: 500


View Profile WWW
April 19, 2014, 01:18:56 AM
Last edit: July 05, 2017, 03:54:15 PM by skycoin
 #707

1 million coins (1%) will be sold for 50k in Bitcoin.

So from an investors point of view, we'd need to believe in a $5m valuation at launch. That's almost top ten territory, market cap wise.

What's the plan for distributing the remaining 99%?

Maidsafe is raising 6 million dollars at 120 million dollar valuation.

Ethereum is raising 30 million at over a 100 million dollar valuation.

Ripple IPOed  at over a 100 million dollar valuation.

Skycoin is IPOing at 5 million dollars and only raising 50k. The IPO is oversubscribed. We are doing the IPO at such a low price so that more people can get coins early.

Reasons for the Structure of the IPO:

The reason a 50k IPO was chosen was because we have experience with previous coins. We know of people who buy up allotments of coin in an IPO, wait until the price goes up 30x and then DUMP the coin, completely destroying the equity of the other coin holders.  A coin going from a 1 million to 50 million dollar market cap, with 30% of the IPO participants dumping, needs between 5 and 15 million dollars capital inflow just to maintain the price. Skycoin is not a pump and dump and a smaller IPO reduces the impact of speculator dumping and improve price stability.

A majority of the Skycoin will be distributed to the user base within the first five years. We learned the mistakes of Ripple and will not repeat them.

We believe that distributing all the coins at once, hurts the users who came in later and are committed to a gradual, Bitcoin like distribution. Mastercoins and other coins that did a single large IPO, failed to create an incentive for users who came in after the IPO and there was no financial incentive for later users to adapt the coin.

Coin Distribution:

We are looking at different models for distributing the rest of the coins and we have a few options.

1. Release 0.1% of the coins per day and taper the release rate over time
2. Give coins away as subsidies and incentives for running mesh network nodes (example: $200 subsidy per mesh network node)
3. Hoard all the coins so we feel rich
4. Developer bounties

We like the mesh network node subsidy, because it requires buying hardware (proof of burn), can be verified and increases the value of Skycoin. We are able to verify the geographic location and setup of the nodes, through third parties.

The official policy is to keep Skycoin scarce and to protect and grow the equity of the existing Skycoin equity holders. This means, that we will give out coins for things that may increase the value of Skycoin, but will not give out coins randomly or dilute the existing stakeholders.

The official policy is to promote price stability and gradual appreciation.




TwinWinNerD
Legendary
*
Offline Offline

Activity: 1680
Merit: 1001


CEO Bitpanda.com


View Profile WWW
April 19, 2014, 01:47:11 AM
 #708

So it is 99% oft the coin in the hands oft anonymous devs? Ok if this is how it is going to be, than I can't be a part of this. Only a fool would support centralisation in a decentralised environment. Do you know why there is so much hate against ripple? Because of your distribution policy...

skycoin
Hero Member
*****
Offline Offline

Activity: 498
Merit: 500


View Profile WWW
April 19, 2014, 02:04:59 AM
Last edit: April 19, 2014, 03:27:44 AM by skycoin
 #709

So it is 99% oft the coin in the hands oft anonymous devs? Ok if this is how it is going to be, than I can't be a part of this. Only a fool would support centralisation in a decentralised environment. Do you know why there is so much hate against ripple? Because of your distribution policy...

We are not keeping 99% of the Coins like Ripple did. The majority of coins will be distributed to the users. The developers will have less than 50% of the total coins at the end of five years.

Whatever we do, it will be as fair as possible. However, there is nothing we can do that will make everyone happy.

Coin IPOs:

Ripple: Create 100 trillion coins, keep 99.9% of them and sell coins at below market price to investors in backdoor deals
Mastercoin: Sell all the coins at once
NXT: Sell all the coins for 9 Bitcoins and close the IPO when the public tries to buy in
Bitcoin: Distribute the coins over 40 years
Dogecoin: Distribute all 100 billion coins within first year and then 10k coins/block to keep people mining
Skycoin: IPO 1% of coins and distribute the majority of the coins to the userbase over time (within five years)

Skycoin is trying a new model.

cryptomite
Full Member
***
Offline Offline

Activity: 282
Merit: 100



View Profile
April 19, 2014, 04:08:12 AM
Last edit: April 19, 2014, 04:23:15 AM by cryptomite
 #710

Perfect example of greed ruining a good thing right here.

Read the first page. I was thinking, holy shit this is great. Im putting aside btc in my head at that moment. I was on to the "ok, now lets just make sure I dont get scammed" mode. I was going to invest if I could do it relatively safely.

So I clicked to the last page. This one. And sadly found out that, once again,  dev seeing those dollar signs melted someones brain again. Maybe this wont INSTANTLY die, but any meaningful success is gone. Unless you call a PnD a success. SAD!!!!

You really sounded like you were onto something. I usually just move on. But I just had to tell you how dumb you were for screwing up your own plan. A good one for a second too. SO DISAPPOINTED!!!!

Just a little tip. If you make a coin, it wont work if you keep all of it for yourself!!!

"You know you cant please everybody" lol

Enjoy all your coins. LOL

How about, well ok, we were just kidding, were ACTUALLY going to give the coins to the INVESTORS.

This wasn't supposed to be Marinecoin. Or was it. Im mad cause the first page had me excited!!


dzarmush
Legendary
*
Offline Offline

Activity: 1736
Merit: 1001


View Profile
April 19, 2014, 04:20:00 AM
Last edit: April 19, 2014, 04:57:56 AM by dzarmush
 #711

The developers will have less than 50% of the total coins at the end of five years.

What a relief Smiley

JessicaMILFson
Full Member
***
Offline Offline

Activity: 182
Merit: 100


View Profile
April 19, 2014, 05:09:21 AM
 #712

I think it's fair.

All you guys just want 100000% profit and dump the coin and become rich overnight. This is not gonna happen.

Just appreciate the technology and innovative and give as much as you can afford to lose. If you like it later, buy in after launch. Remember, this is going to be a coin that has the concrete development behind it that's launching. They are not doing an IPO for vaporware, the coin is almost done coding and being tweaked and optimized right now.
notsoshifty
Sr. Member
****
Offline Offline

Activity: 364
Merit: 250


View Profile
April 19, 2014, 05:22:10 AM
 #713

Skycoin Philosophy:
- complex systems cannot be secure
- simplicity over complexity
- decentralized but pragmatic
- emphasis on usability

A majority of the Skycoin will be distributed to the user base within the first five years. We learned the mistakes of Ripple and will not repeat them.

The developers will have less than 50% of the total coins at the end of five years.

It's decentralised or it's not...?
leetrump
Full Member
***
Offline Offline

Activity: 162
Merit: 100

hehe


View Profile
April 19, 2014, 05:23:39 AM
 #714

you want 50k BTC for 1% of the coin leading to a 5000000 Marketcap (five-million bitcoins)
or
you want 50k$ in BTC for 1% of the coin leading to 5000000$ Marketcap (five-million USD)

Both sound ridiculous, is there a typo?

just as ridiculous as a 2BTC nas ipo
ronald0cz
Sr. Member
****
Offline Offline

Activity: 253
Merit: 250


View Profile
April 19, 2014, 05:37:49 AM
 #715

Skycoin Philosophy:
- complex systems cannot be secure
- simplicity over complexity
- decentralized but pragmatic
- emphasis on usability

A majority of the Skycoin will be distributed to the user base within the first five years. We learned the mistakes of Ripple and will not repeat them.

The developers will have less than 50% of the total coins at the end of five years.

It's decentralised or it's not...?

+1. I have the same question.
dzarmush
Legendary
*
Offline Offline

Activity: 1736
Merit: 1001


View Profile
April 19, 2014, 05:45:22 AM
 #716

I think it's fair.

All you guys just want 100000% profit and dump the coin and become rich overnight. This is not gonna happen.

Just appreciate the technology and innovative and give as much as you can afford to lose. If you like it later, buy in after launch. Remember, this is going to be a coin that has the concrete development behind it that's launching. They are not doing an IPO for vaporware, the coin is almost done coding and being tweaked and optimized right now.

Absolutely. I respect what they're doing and I wish them the best of luck. I just don't like the idea of devs keeping 99% of coins and promise that they'll have only (omg only, really?) 50% after 5 (five) years. I'll probably be dead by then ) Although the price $0.005 per coin is absolutely fine, but I'd rather see them selling 50% coins for $2.5M instead of 1% for $50K.

JessicaMILFson
Full Member
***
Offline Offline

Activity: 182
Merit: 100


View Profile
April 19, 2014, 05:48:53 AM
 #717

Skycoin does have a point about selling too much of the stake as a premine with the other examples cited.

The pumping and dumping is all too real and does affect the price sharply if the big whales decide to exit only for profit. If they do a controlled release, they are able to control the price more favorably.

They are promising to offer bounties for successful implementation of their mesh as well as other things too. Maybe, money used for external audits, etc.

nilangerxing
Newbie
*
Offline Offline

Activity: 37
Merit: 0


View Profile
April 19, 2014, 05:50:17 AM
 #718

It seems there are lots of work to do  to get where the devs want. Wink
JessicaMILFson
Full Member
***
Offline Offline

Activity: 182
Merit: 100


View Profile
April 19, 2014, 05:56:15 AM
 #719

Personally, I would like to see some sort of escrow, external security audits. Still have no idea who's behind this.

Satoshi was ok. But lots of scammers out there now wanting to get rich quickly.
crimealone
Sr. Member
****
Offline Offline

Activity: 644
Merit: 251



View Profile
April 19, 2014, 06:21:02 AM
 #720

It's $50000 for 1% coins,right?
Personally, I think you really need an escrow and I recommend escrow.ms. This guy is amazing!

            ▄▄████▄▄
        ▄▄██████████████▄▄
      ███████████████████████▄▄
      ▀▀█████████████████████████
██▄▄       ▀▀█████████████████████
██████▄▄        ▀█████████████████
███████████▄▄       ▀▀████████████
███████████████▄▄        ▀████████
████████████████████▄▄       ▀▀███
 ▀▀██████████████████████▄▄
     ▀▀██████████████████████▄▄
▄▄        ▀██████████████████████▄
████▄▄        ▀▀██████████████████
█████████▄▄        ▀▀█████████████
█████████████▄▄        ▀▀█████████
██████████████████▄▄        ▀▀████
▀██████████████████████▄▄
  ▀▀████████████████████████
      ▀▀█████████████████▀▀
           ▀▀███████▀▀



.SEMUX
█ █
█ █
█ █
█ █
█ █
█ █
█ █
█ █
█ █
█ █
█ █
█ █
█ █
█ █
█ █
█ █
█ █
█ █
█ █
█ █
█ █
█ █
█ █
█ █
█ █
█ █
█ █
█ █
  Semux uses 100% original codebase
  Superfast with 30 seconds instant finality
  Tested 5000 tx per block on open network
█ █
█ █
█ █
█ █
█ █
█ █
█ █
█ █
█ █
█ █
█ █
█ █
█ █
█ █
Pages: « 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 [36] 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 ... 199 »
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!