[SKY] Skycoin Launch Announcement

[Baghead]

Is this an imaginary coin 

Have i missed distribution? I read threw the op and am still none the wiser, not reading threw the whole thread

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[13Darko]

Is this an imaginary coin 

Have i missed distribution? I read threw the op and am still none the wiser, not reading threw the whole thread

I guess no, u haven't. Looks like devs are fixing the wallet now and after they decide to make an IPO, we'll have to send our SkyCoin wallet address to a bot in TOX messenger and receive a BTC address to send bitcoins to. That's how it will be done, am I right? 

[skycoin]

IPO Today

Ok. Quickly, time to do the IPO while the bitcoin elite are on the secret island.

We want to get this out of the way so we can focus on Skywire. Too much delay.

The tox bot is: c2ec2db92c4d4bed0208bd5bf609ba5e1a277af105c6da40af82b1dcd5e6c456ad79757f1349

Coding bot right now. Deterministic wallet generation is confirmed.
- you do not need the skycoin wallet for the IPO. You can use a wallet seed.

There are three addresses in the IPO
- the address where bitcoin are deposited to receive Skycoin
- the Skycoin destination Address (the deterministic wallet address)
- The Bitcoin refund address (where bitcoin will be sent back to, if there is a problem)

There is a receipt system, to allow third party resolution of disputes. We will take address pairs, hash the json and sign the hash. The rest can be confirmed from public data (whether the coins were received, how much Bitcoin was refunded, how much Bitcoin was sent).

Will update instructions here when bot is ready to go. I would start up tox and verify that you can message the bot.

IPO Details:

This IPO is for developers, people who have been following for a while and experienced people who know what they are doing. This is more of a private offering and not really an IPO. The purpose is to get Skycoin trading and work on bugs.

There is no public Skycoin exchange setup. This is not the public offering for speculators. Trading bot will be setup later.

We will distribute 2 million coins, at 10 cents per coin. Out of 100 million coins. So this offering is very small at 200k.

[13Darko]

IPO Today

You are full of surprizes

[Brilliantrocket]

Nearly 900 Bitcoin for just 2% of such a risky project? Think I'll pass.

[skycoin]

Skycoin now has deterministic Bitcoin address generation. Bitcoin address generation in six lines of code.





Finishing the Bitcoind wallet import format (WIP) and then bot should be ready.

[Djinou94]

IPO Today

Ok. Quickly, time to do the IPO while the bitcoin elite are on the secret island.

 
They have not invited u?

[bubblymint38]

is it ready yet?

[oddwh]

What happens if you don't sell your 2m coins ? 

Because I don't see how you could get 900~1000 btc from this ipo, seriously 

[Jungian]

Nearly 900 Bitcoin for just 2% of such a risky project? Think I'll pass.

In an IPO you can always sell the shares to yourself. Free profit.

[Baghead]

Come on this is beyond stupid!

You are asking for 200k for a project you can't even get a working wallet ready for the IPO launch over a year after thinking up the project lol

- The coins will be distributed in a fair, open process ( Yeah right this is as far from that as possible you greedy little man)

Stay clear people

[skycoin]

What happens if you don't sell your 2m coins ?  

Because I don't see how you could get 900~1000 btc from this ipo, seriously  

The purpose of the IPO (its not really an IPO, its a private offering), is to get coins out the community and get it trading.

The other purpose of the IPO, is to get it done. I am absolutely sick of working on the coin. Its done.

http://godoc.org/github.com/skycoin/skycoin/src/cipher
http://godoc.org/github.com/skycoin/skycoin/src/coin
http://godoc.org/github.com/skycoin/skycoin/src/visor

When I am working on the coin and writing unit tests and endlessly refactoring, I feel like crypto jesus dragging the crypto cross. Everyone wants to work on the "cool stuff" but few people want to fix build scripts for cywgin or deal with problems. After the IPO we will go on oDesk and find good developers who need to write code in order to feed their family and avoid starvation in winter, who are motivated to handle these hundreds of small things quickly and efficiently.

I want you to go into the Bitcoin source and then look at the Skycoin source
https://github.com/bitcoin/bitcoin/tree/master/src
https://github.com/skycoin/skycoin

Click on a folder. You can feel the clutter. Bitcoin is like a jet aircraft held together by duct tape. Getting Skycoin down from 85,000 lines to 5,000 lines and eliminating all the edge cases and "undefined behavior" was an immense effort over years and psychologically taxing.

After Skycoin and Skywire is done. Bitcoin is obsolete. There is no reason to spend 300 million/year on mining and electricity costs to secure the blockchain. There is no longer a reason to tolerate the crap in Bitcoin, the edge cases, the shitty API, the frustration that it creates doing even the basic task of checking the balance of an address not loaded in your wallet. There is no reason to tolerate the transaction malleability, signature malleability, or use insecure web wallets because the local wallet is shit.

Even if your coin is Proof of Work, it is easier to just fork Skycoin and clone the repo rather than deal with Bitcoin. Skycoin is actually a set of libraries for building cryptocoin applications.

Shorter Summary:

What happens if you don't sell your 2m coins ?   Because I don't see how you could get 900~1000 btc from this ipo, seriously  

1000 Bitcoin is a tiny IPO. Its not even an IPO, it is a "private offering". 1000 Bitcoins were not even a dollar, when Skycoin project started. 1000 Bitcoin wont even buy you a sports car.

The IPO was sold out a year ago. I just want to get it over with. It is taking up too much time. There are more important things that need to be developed and it is taking up too much resources and creating too much stress. As soon as its done, people can whine about it, but we can get actual work done instead of worrying about minimizing whining.

[Tobo]

"100,000x return", that is why I am here. (I am very well aware of the risk as well)

Will the details instruction for the private offering come out soon as you planned?

[mightname]

too much delay

[tbearhere]

What happens if you don't sell your 2m coins ?  

Because I don't see how you could get 900~1000 btc from this ipo, seriously  

The purpose of the IPO (its not really an IPO, its a private offering), is to get coins out the community and get it trading.

The other purpose of the IPO, is to get it done. I am absolutely sick of working on the coin. Its done.

http://godoc.org/github.com/skycoin/skycoin/src/cipher
http://godoc.org/github.com/skycoin/skycoin/src/coin
http://godoc.org/github.com/skycoin/skycoin/src/visor

When I am working on the coin and writing unit tests and endlessly refactoring, I feel like crypto jesus dragging the crypto cross. Everyone wants to work on the "cool stuff" but few people want to fix build scripts for cywgin or deal with problems. After the IPO we will go on oDesk and find good developers who need to write code in order to feed their family and avoid starvation in winter, who are motivated to handle these hundreds of small things quickly and efficiently.

I want you to go into the Bitcoin source and then look at the Skycoin source
https://github.com/bitcoin/bitcoin/tree/master/src
https://github.com/skycoin/skycoin

Click on a folder. You can feel the clutter. Bitcoin is like a jet aircraft held together by duct tape. Getting Skycoin down from 85,000 lines to 5,000 lines and eliminating all the edge cases and "undefined behavior" was an immense effort over years and psychologically taxing.

After Skycoin and Skywire is done. Bitcoin is obsolete. There is no reason to spend 300 million/year on mining and electricity costs to secure the blockchain. There is no longer a reason to tolerate the crap in Bitcoin, the edge cases, the shitty API, the frustration that it creates doing even the basic task of checking the balance of an address not loaded in your wallet. There is no reason to tolerate the transaction malleability, signature malleability, or use insecure web wallets because the local wallet is shit.

Even if your coin is Proof of Work, it is easier to just fork Skycoin and clone the repo rather than deal with Bitcoin. Skycoin is actually a set of libraries for building cryptocoin applications.

Shorter Summary:

What happens if you don't sell your 2m coins ?   Because I don't see how you could get 900~1000 btc from this ipo, seriously  

1000 Bitcoin is a tiny IPO. Its not even an IPO, it is a "private offering". 1000 Bitcoins were not even a dollar, when Skycoin project started. 1000 Bitcoin wont even buy you a sports car.

If the 2m coins dont sell, I will buy them myself for Bitcoin, then sell the Bitcoin for $100 bills and then smoke the stack of $100 bills on Instagram.



The IPO was sold out a year ago. I just want to get it over with. It is taking up too much time. There are more important things that need to be developed and it is taking up too much resources and creating too much stress. As soon as its done, people can whine about it, but we can get actual work done instead of worrying about minimizing whining.

And yes. If Skycoin goes to a trillion dollars the developers who did all the work are going to buy sport cars, castles and a nuclear powered Russia icebreaker, while the IPO investors who "took all the risk" will have to cry themselves to sleep because they only made a 100,000x return. Life is difficult and unfair.

See you should have made it a mining coin. Just my opinion.

[cryptrol]

IPO Today

Ok. Quickly, time to do the IPO while the bitcoin elite are on the secret island.

I will throw you some cents. Just for the lulz. And because i have been reading that thread for too long.
You are mad, thats what I like the most of this coin

[oddwh]

Hehe, thanks for your answer.

It was really hard to get one !

1000 BTC isn't that tiny (for 2%), forget about the less than 1$ BTC, currently, a btc is at 230$ and most of this community bought at more than 500$, we are not all "early investors" . How much BTC you have ? Me, less than 5.

If 50% or 100% of the coin were sold, yeah, I would call it a tiny ipo. The fact is currently, by selling 2% of all the coins, we're taking a lot of risks. Even if your code is perfect, currently a lot of work in marketing and graphic needs to be done, we're not sure of how it will come. And well I will not write another post about inflation, but don't forget the 500% rate you will make ! (A lot of pos coins have an inflation rate of less than 10% every years).

Good luck with your coin and thanks for your answer

I just hope you'll not need to buy a lot in this IPO to complete it ! You could look like a big whale controlling the market. If you don't dump that's a good point but from an external view, that could look like a scam (like the 2% IPO but if you want this, well... ^^' ) I tried, at least, I tried 

... and : https://www.bitpremier.com/2-autos/1571-2013-porsche-911-s-pdk

406 BTC  

Last question : Is the tox bot running ?

[Blas]

Nearly 900 Bitcoin for just 2% of such a risky project? Think I'll pass.

I pass too, This IPO is ridiculous.

[Jocuserious]

Hehe, thanks for your answer.

It was really hard to get one !

1000 BTC isn't that tiny (for 2%), forget about the less than 1$ BTC, currently, a btc is at 230$ and most of this community bought at more than 500$, we are not all "early investors" . How much BTC you have ? Me, less than 5.

I kind of get a bit nervous when people start talking about how BTC is that large. 10x happens all of the time.  BTC parity not so much.

Still not sure about this one.  I really don't think that the dev is going to be dumping.  I believe that he has a vested interest in his project and is motivated by the time and effort he has placed into it, which lends confidence.  I have no problem thinking that the project is going to be solid but 2% of the IPO with 988% in the hands of one person is still going to cause reactions amongst the molecules.

[skycoin]

too much delay

If we sat in an IRC chat room handling out coins by hand, would be done and take five minutes. However, had to add deterministic Bitcoin address generation to Skycoin and a bot and do cryptographically signed receipts that allow third party verification, through a tox bot. The IPO is over engineered... We already had two working python bots for distribution and should have used those instead of writing a new bot in golang *sigh*

chronic over-engineering.

Good news is that Skycoin almost functions as a full Bitcoin thin-client now and the bot is almost a full Skycoin/Bitcoin exchange. With an sx wrapper, it will do Dogecoin and Litecoin too...