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Question: Choose one
Yes, ban them - 213 (49.7%)
No, don't ban - 216 (50.3%)
Total Voters: 429

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Author Topic: Should IPOs be banned from the site? Poll  (Read 6699 times)
MyPotPlantDied
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April 27, 2014, 10:36:53 PM
 #101

i joined this forum specifically looking for good ipos to get in on so please do not ban them!

anyone have any good recommendations for ongoing ipos? nem looks great but the ipo is over.
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April 27, 2014, 10:41:26 PM
 #102

Lol yes its a bit reminiscent of HYIP forums Smiley
r0ach (OP)
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April 27, 2014, 11:46:14 PM
Last edit: April 27, 2014, 11:56:47 PM by r0ach
 #103

What do rules and regulations lead to?

The U.S. Scam dollar

If you get burned on an IPO, you get burned. If you want a legitimate IPO, ask that the person dealing the coin make himself known, write up a contract and have it signed and notarized. I'm tired of people falling for stupidity followed by screaming RULES AND REGULATIONS.

It is disgusting and I do not in any way advocate the scams that are going on, but the people running the scam are only half to blame. Do your research, know where your money is going. It's a gamble. You want a hunky dory regulated system -- Go trade in the stock market.

Some people obviously cannot read.

Look at the following sentence in the first post:  

"The normal Bitcoin protocol was not designed to be issued for profit, or to have a central issuing authority.  It was designed to be a trust free system where others work to acquire it through mining, and for any reward to be independent of the creator."

Read the URL of the website you are posting on.  This is a Bitcoin orientated website.  Since IPOs do the exact opposite of what the fundamentals of Bitcoin are set to accomplish, I equate posting an IPO on this forum to be as off-topic as posting an advertisement for a bass boat.

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JuggaloCoin
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April 28, 2014, 04:56:30 AM
 #104

It is wrong that you are being forced to buy into IPO's.  That's horrible.  Do they put a gun to your head to make you buy in?

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April 28, 2014, 01:34:29 PM
 #105

It is wrong that you are being forced to buy into IPO's.  That's horrible.  Do they put a gun to your head to make you buy in?



I fully support your view!

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April 28, 2014, 01:35:27 PM
 #106

Better idea: don't send money to zero-credibility idiots.

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April 28, 2014, 01:38:32 PM
 #107

They shouldn't be banned. There are some good ones sometimes and who knows which one might be the next big one?
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June 13, 2014, 12:30:09 AM
 #108

In memory of NEM, R.I.P.

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June 13, 2014, 12:31:27 AM
 #109

If you don't ban them, the U.S. government will. And its gonna be a whole lot more messy.

This isn't really a matter of opinion so much as time.

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June 13, 2014, 01:25:35 AM
 #110

@OP

I understand where you are coming form and I get that you, as a miner don't want to see your livelihood taken away. That is understandable. I am not even saying I 100% disagree with you.

But let's be honest with one another. The essence and the spirit with which Bitcoin was created are long gone. When you have mining farms, rich playboys buying $10 million worth of Bitcoin, and the average user, that was supposed to be the core of the system, completely incapable of playing a part without buying in with their entire paychecks, the Bitcoin and mining world are broke.

2nd generation coins came about because people wanted to introduce a coin that didn't require mining for the reasons listed above. For starters, it uses less power. It also, in theory, was going to allow all of those who missed the initial Bitcoin boat to get in on the ground level.

Unfortunately, coins like NXT went about it in a completely corrupt manner. By distributing the entire genesis block to such a small core of people, and making the entire basis of the algorithm to reward hoarding, they essentially create a system that will sustain their own riches long term.

2nd generation coins are the long term answer to solving the mining monopoly problem. However, initial distribution is the area in which we have yet to see anyone create the perfect coin.

IPO's aren't the problem here. Developing an algorithm from scratch and creating the entire basis for a coin, marketing it, and bringing it to a successful launch is a lot of work and with a team of 4 or 5 people working full time to get it there, they deserve to be rewarded. They deserve some form of compensation for the work they have already completed and many times require a basis of funding to continue to develop the project long term.

Many times on this forum if a coin doesn't have an active developer who continues to innovate and support his coin, the coin will be dropped by the community and fail. Unfortunately, the amount of time and energy this community expects someone to put into the coin equates to a full time job and NOW you are asking them to do it with no pay.

No offense, but that's a dick move.

In the world of business, and IPO is conducted by a company in order to raise funds for farther development of an idea that people believe in.

In the Crypto world, it should be the same thing.

If people believe in the idea behind a currency, they believe it can fix the problems of Bitcoin, Litecoin, and NXT, and truly innovate, why shouldn't they be allowed to support it by offering to help fund it's long term development?

You are attempting to start a controversy against a form of fund-raising that exists in every other facet of life.

The Bitcoin Foundation, Altcoin Foundations, and any developer of a Crypto based product who asks for donations is doing the same thing. The only difference in the IPO is that they are awarding you a share in the coin for helping them get it developed and getting the features in place that you all want.

Is this the best distribution method humanly possible? I don't know.

But let's consider this. IF an Altcoin was coming out that could possibly solve all of the issues we've mentioned and it was asking for donations to help development and features. They were offering absolutely nothing in return and simply were hoping you would give them funds so they could create the coin.

You would all troll them out of existence and claim immediately that it was a scam, laugh at them, and bid them good riddance. Best case scenario they get a total of 1 BTC in donation over a period of a year, which is barely enough to develop a proper website to distribute the wallet.

The reason IPO's exist is because people like you won't help develop, offer time or donations, to a legitimate group of developers trying to make a better coin.

Before I leave, I just want to make a point here as well. The only reason you are even on here crying like a little baby is because you see the influence NXT is garnering and it's growing market cap, you hear the support for new ideas, and you know you make your living on mining. You are here arguing and you are a supporter of other currencies that are run on an inferior method because you have a horse in the race. So be up front, be honest, say that you love mining based coins because you PROFIT from them, and put it out on the table.

In a perfect world, a company who created the perfect PoS coin, that started with 0 currency and awarded everyone who wanted to open a wallet an equal stake for some form of minimal service that amounted to supporting the coin, and distributed it all from scratch to anyone and everyone who ever wanted to support it, can never get made without some form of infusion of cash to help pay developers, conduct marketing, and get it in the hands of the people.

IF you want to offer $30,000 out of your pocket to develop such a coin that would reward EVERYONE in the entire world equally, would stop all of your complaints about IPO's, and permanently end the need for any other currencies, I will shake your hand in congratulations.

I'm waiting....

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June 13, 2014, 01:31:51 AM
 #111

Unbelievable that within 60 seconds of making the post, there are already five votes against, and five votes for banning.  The unbelievable part is that not a single person that voted no could provide any rational response to my post as to why IPOs should not be treated entirely as scams.  I expect this thread to see a MASSIVE NXT/Ethereum shilling campaign.  The amount of effort and propaganda required to try and debunk the original post is so monumental, we may not see an anti-ban poster reply for weeks, just votes only.
  

Huh?  Why do you think that miners are not centralized? People who invest capital in mining equipment gets the coins and somehow that is more fair than any of the other 1/2 a dozen ways IPOs can distribute coins.  Yes, IPOs are a hotbed for scams, but to blanket remove them is absurd. 

I have a NEM stake.  Even with the ugly stuff that was revealed today I am quite happy with my investment and the coin moving forward. It is a large community. I'm sure there are other compelling coins that I am not aware of.

You obviously have a big interest in mining equipment.  Not sure how mining makes anything less centralized.  People buy coins indirectly through hardware + electricity or they pay the coin creator directly.  (Or other ways).  The hardware + electricity was a great way to bootstrap this wonderous community, but it is far far far from being perfect.  It adds middlemen that are simply no longer needed. 

Just because someone didn't respond to your FUD nonsense in 60 seconds doesn't mean you have some big grand point.
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November 02, 2015, 08:35:50 PM
 #112

This topic is more important now than ever with bankers and people like Blythe Masters trying to say, "hey, forget Bitcoin, how about that....blockchain", as they try to issue you their 100% premine coins.  

On another note, I can't believe people are hyping this Israeli scam coin, GetGemz.  From their site:

"Eventual supply is achieved as follows: 50 million Gems distributed to stakeholders; 30 million Gems distributed as daily Airdrop rewards during ~3 years after launch; 12 million Gems reserved for bonus block rewards, promotion, marketing, bounties; 8 million Gems + Presale BTC will fund the network R&D and operation costs.  Since daily airdrop rewards users who introduce other users, who is rewarded for those who come without a special invitation? Uninvited users will be attributed to random Presale buyers.. In addition, air drop share is multiplied by total gems owned. The more Gems you own, the more Gems you make - an advantage to those who accumulate Gems first."

This is even more scammy than crazy Darkcoin compound interest on masternodes.

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November 02, 2015, 09:36:53 PM
 #113

I voted no. One of the reasons is that this site can provide FinCEN with easy access to the IPOs/ICOs that are launched by unregistered MSBs. This will assist FinCEN is prosecuting them.

It could also be helpful to regulators in other jurisdictions.

Concerned that blockchain bloat will lead to centralization? Storing less than 4 GB of data once required the budget of a superpower and a warehouse full of punched cards. https://upload.wikimedia.org/wikipedia/commons/8/87/IBM_card_storage.NARA.jpg https://en.wikipedia.org/wiki/Punched_card
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November 03, 2015, 01:04:36 AM
 #114

I voted no as long as there will be a real life identity verification of developers doing the ICO's. And all of them will be made public.
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November 03, 2015, 01:16:45 AM
 #115

Fools being separated from their money doesn't bother me.

RaiBlocks coin:  Instant blocks, no fees
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November 03, 2015, 11:51:49 AM
 #116

I created a similar topic long ago.. I voted Wink
OP made solid points that will go unrefuted!

Fact: IPO = Scam

FUD first & ask questions later™
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November 03, 2015, 02:30:18 PM
 #117

Even if IPO is banned, they will still sprout out somewhere else in other cryptoforums. It would better for people in this forum to warn other people of dangers in investing into ICO.

     

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CoinHoarder
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In Cryptocoins I Trust


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November 03, 2015, 04:48:32 PM
 #118

If all Ipo coins are scams because one Ipo coin's developer can assign a percentage of tokens to himself for free, then all Pow coins are also scams because one Pow coin's developer can premine a percentage of tokens for free.

If all Ipo coins are scams because a rich person can buy a large percentage of the tokens during the Ipo, then all Pow coins are also scams because a rich person can buy a lot of powerful mining hardware and mine a large percentage of the tokens.

If all Ipo coins are scams because one Ipo coin ended up being a scam, then all Pow coins are scams because there have been several Pow coins that ended in scam accusations.

If all Ipo coins are scams because a small number of people invested in a certain Ipo coin's Ipo, then all Pow coins are scams because one coin was mined by few people at its inception.

Are you starting to see the problem with stereotyping all IPO coins?
Piston Honda
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November 04, 2015, 02:59:18 AM
 #119

yeeeesssss

$ADK ~ watch & learn...
Spoetnik
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November 04, 2015, 07:07:06 AM
 #120

garbage deleted

I have watched you post so much stupid shit around here it's not even funny.
You are constantly *trying (and failing) to make pitiful excuses for scammy bullshit.
give it up Catp. Failtrain
Bad is bad ..it's can't be justified

you know fuck all sweet heart.

and your comment is a load of bullshit.. where do i start showing you how everything you said is wrong ?

FUD first & ask questions later™
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