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Author Topic: Exo Coin ESCROW now clarified by Exo DEV  (Read 723 times)
jubalix
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February 21, 2014, 09:04:34 AM
 #1

EXO COIN IS CLAIMING YOU CAN USE "ESCROW" but then redefining "ESCROW" to mean you hand over your coins first, because we can't do simple maths to work out stake proportions, you know fractions, but we can write and entirely new code base in C++11 for a Crypto.

I'm not saying EXO is a scam, but their abuse of the word ESCROW sure is. See below where I dig their error out

EXO HERE IS YOUR CHANCE TO REPLY AND COME CLEAN. YOUR CURRENT POSITION IS NOT LOGICAL

?
Not sure what you mean by that.

But maybe I just explain the process - I think this will answer your questionmark:

on launch day we will spread EXO to all investors and to the people from free mail-giveaway. But before we can deliver the EXO we need to have all investments in our wallets. The reason: the amount of EXO one investor will get on launch day depends on all investments that will be done till the end (propotional). If we would accept that someone finish his escrow some days after the launch then how could we calculate how much any investor will get? We cannot forecast if someone will release his funds somedays after launch or if he will reject it completely. That would change calculations.

One day before launch we will make those calculations and prepare the distribution.

However, if you finish your escrow so that it will be in our wallets at least one day before launch you have the following assurances:
- you can read the whitepaper
- you can take part in an open beta before you need to finish the escrow

regarding open beta: you will get the regular client (with little modifications) that will be used from launch day on as well. Little modifications means that it will only work within a testnet. You will receive some test-EXO automatically so that you can transfer and interact and use the whole program.

I hope that I could help you.

>>>YOUR REASON DOES NOT MAKE LOGICAL SENSE<<<<
Quote
The reason: the amount of EXO one investor will get on launch day depends on all investments that will be done till the end (propotional).


hang on a moment, you can calculate exactly how much to give on launch day. The Escrow, Anon, has the exact figures  for what he has collected and from whom. You can calculate exactly on this basis. given this information

Then you can send the coins exo coins to either Anon or the people directly, as Anon can verify their contacts, and then the LTC / BTC can be released to you.

Even then if a person does not chose to have anon release the coins, he can send the portion back to you (minus his fee) and if exo is that good you will have no problem selling them at nice profit.

You have loudly stated on your first page you can use escrow, and escrow means at the very least the escrow holds both parts. There is no way an escrow can give BT/LTC out to you before you give out you coins. THATS NOT ESCROW. Look at it this way. Would you give your proportion away to people who simply pledge to give you coins after you give them exo....? Because thats what your asking people to do.

PS I deal in large complex Escrows for big $$$ and this is how it works and what it means. I also hold a Degree in Law.

Your "definition" of escrow is asymmetric in your favour. Don't absue the words Escrow in this way. Also don't blame it on poor language as you clearly understand how to construct the deal in your favour.

The Escrow must hold both parts from both parties or control of both parts, or it's not an escrow.

And don't tarnish ANON136's rep of service with pejorative comments, to the effect thats a nice add on if you listen to your customer. You in RED loudly declared you could escrow and repeated it, then as soon as you got a real Escrow you attacked him, his clients and his service, when you realised you got what you asked for and you didn't like it

If you can do the maths and logic well enough to write new code in c++11, then you can easily work out proportions or stake from Anon136 information, he is even setting up a spread sheet.

Of course no coins will be released to you for a "beta" as in test net coins or similar  but only once the live working system is released with real exo coins that can not be voided by you or anyone else.

See even after escrow, the risk is you protocol fails and everyone loses their exo's, but we know the LTC and BTC protocols mean that they can't be clawed back

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jubalix
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February 21, 2014, 09:52:28 AM
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bump

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jubalix
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February 21, 2014, 10:04:03 AM
 #3

UPDATE

The DEV clarified.

Quote
Hello all together,
We can understand what jubalix (and others) are saying.
Thank you all for staying friendly.


We are going to provide "real" escrows with Anon (so that we will send our EXO to Anon and he will send his BTC to us). We will accept this if we can do it in batches of some BTC. But therefore I need a clear ok from Anon that he will be ok with this "real" escrow + batch execution. As for other escrow providers we cannot do this at the moment. They have to support it. So if you want to use something else and want a "real" escrow then please ask the service provider to contact us. If they are going to support this way we will accept it then as well.

Hope that is ok to everyone now? Please wait for an OK from Anon first!





as for the investments and PMs please hold on...

I responded

That sounds much fairer!

I just wanted it to be clear!

This gives legitimacy to your project, if you do it this way.

Note all people who escrow with Anon will have to OK the sending at the time EXO are given over to anon, and the EXO dev will be entitled to receive their EXO back if you don't ok.

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zrunfeng
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March 16, 2014, 12:43:08 PM
 #4

very interesting

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