SWARM project will be livestreaming its crowdsale launch! Monday 6/16 8pm Berlin

[DistributedBUZZ]

LIVESTREAM from Monday 6/16 8pm Berlin time (11am PST)
Swarm is a crowdfunding platform powered by Bitcoin 2.0 technology. It allows the users of a product to also be its investors. Everyone has a share in the success of the projects.

Starting on 17 June, Swarm will make 100 million SWARM coin available in a limited-time crowd sale running until 20 July.
The owner of a SWARM coin gets a percentage of the coins of every project that is launched on the Swarm network.

Join us http://swarmcorp.com/

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[mamarried]

Ah, radical. Always down for mysterious internet strangers offering brief experiences of simulated excitement. I'm in.

[JypsiCreme]

Is this similar to the book The Wave in any way? Either way, definately curious and interested. Keep me posted

[pikuchato]

Will we be able to invest with XCP ?

[DistributedBUZZ]

Will we be able to invest with XCP ?

Only Bitcoin

[jztxeno]

Looks like Maidsafe IPO imo + 4.000 BTC is alot

[fordlincoln]

anyone else tuning in?

[jztxeno]

Invested 0.5 BTC.

// I sent it from Blockchain.info how do I get my SWARM coins?

[DistributedBUZZ]

Invested 0.5 BTC.

// I sent it from Blockchain.info how do I get my SWARM coins?

Step 1: recover private key from blockchain.info
Step 2: make a counterwallet.co account
Step 3: "import funds" using the private key

The Swarm coins are created using CounterParty, and although it is recorded on the Bitcoin blockchain - to actually see the Swarm coins in your wallet, one must use the CounterParty wallet (I realize that this was not clear and I will include these details in the above announcement).

Once you import funds to the CounterParty wallet, this action will sweep the token balance effectively moving all Swarm coins from that address you sent BTC from into Counterparty

Please let us know if you experience any further issues

Thanks

[jztxeno]

Invested 0.5 BTC.

// I sent it from Blockchain.info how do I get my SWARM coins?

Step 1: recover private key from blockchain.info
Step 2: make a counterwallet.co account
Step 3: "import funds" using the private key

The Swarm coins are created using CounterParty, and although it is recorded on the Bitcoin blockchain - to actually see the Swarm coins in your wallet, one must use the CounterParty wallet (I realize that this was not clear and I will include these details in the above announcement).

Once you import funds to the CounterParty wallet, this action will sweep the token balance effectively moving all Swarm coins from that address you sent BTC from into Counterparty

Please let us know if you experience any further issues

Thanks

Thanks for your help.

I'll import the private keys now. Will I see my SWARM coins anytime?

[ethought]

From the Swarmcoin website:

We raise 10,000 BTC, 1/3 to salaries, 1/3 to SWARM coin launch funds, and the rest to Swarm Agents and miscellaneous.

So at todays rates you are basically planning to pay yourselves around $2,000,000 in salaries. 

Swarm’s projected 18-month expenses include developing the core infrastructure and usability to allow for the creation of new coins. With a full raise of 21,500 BTC, Swarm will be a true incubator, helping get projects and new coins off the ground.

So Swarm is raising 21,500 BTC to develop a platform that allows the creation of new coins?

Am I missing something here?

[DistributedBUZZ]

The portion of salaries allocated is for developing the business and the development team.

[aws]

So basically this is a Meta IPO
We have seen individual coin IPOs and we know that mostly they end badly.
This is an IPO of future IPOs (IPO squared?)
There is NO prospectus and no concrete information I can find about this "investment"
Investor Beware!

[Spoetnik]

i seen the coindesk story lol

nice attempt at renaming "IPO scams" lol

[Spoetnik]

So basically this is a Meta IPO
We have seen individual coin IPOs and we know that mostly they end badly.
This is an IPO of future IPOs (IPO squared?)
There is NO prospectus and no concrete information I can find about this "investment"
Investor Beware!

naw just renaming it to scam morons..

[Chang Hum]

From the Swarmcoin website:

We raise 10,000 BTC, 1/3 to salaries, 1/3 to SWARM coin launch funds, and the rest to Swarm Agents and miscellaneous.

So at todays rates you are basically planning to pay yourselves around $2,000,000 in salaries. 

Swarm’s projected 18-month expenses include developing the core infrastructure and usability to allow for the creation of new coins. With a full raise of 21,500 BTC, Swarm will be a true incubator, helping get projects and new coins off the ground.

So Swarm is raising 21,500 BTC to develop a platform that allows the creation of new coins?

Am I missing something here?

No they're using the existing platform Counterparty to create the new coins, I think the 21500 BTC is being used to create a super shiny website to promote launches on  fortunately at least one member of the team is a web designer so they can do this for free!

[Crypto_123]

I think you guys need to do a better job in explaining your business idea to the crowd of your crowdfunding campaign (i.e. me) what this whole thing is about. I saw a presentation in Berlin about it and I didn't really get it.

[fractastical]

The portion of salaries allocated is for developing the business and the development team.

More information here: https://docs.google.com/spreadsheets/d/1mqldBmLEVswmRb0Aje3A1myq4wKpaBc2-L_TtGNYTqA/edit#gid=1351254000

[Mrrr]

Perhaps a separate topic in which you bundle all information is useful. Couldn't find much on the website :/

I remember Oculus Rift and I see how Swarm could challenge the existing crowdfunding systems.

I also remember Ethereum's announcement and how they got slaughtered on these very forums.

I see a lot of "SCAM" being yelled at you already. So perhaps do a coordinated PR effort, before the trolls take over.

[fractastical]

Perhaps a separate topic in which you bundle all information is useful. Couldn't find much on the website :/

Good idea. I'll work on that this evening (still recovering from our launch party last night in Berlin).

[Spoetnik]

Perhaps a separate topic in which you bundle all information is useful. Couldn't find much on the website :/

Good idea. I'll work on that this evening (still recovering from our launch party last night in Berlin).

last years rules mean you wouldn't even be able to talk in here at all..
now you can make up new names for IPO and harvest our idiots for money lol

they need to put the nooby jail back in..

hmm random anon noob forum user decides to IPO / Ponzi me ?

TAKE MY MONEY !

[danonthehill]

Prioritizing your own salaries. Where's the investment? I'm out.                                             

[danonthehill]

Oh and there is also an 8% premine i.e. founders will own 8 million coins, while average BTC investor will own 4,250-5,250.  So basically we give you our money and you get the money and the coins.  Genius! It also means that every other coin / crowd funding project will have an 8% premine in addition to any premine the project decides to keep itself.

[Its About Sharing]

Oh and there is also an 8% premine i.e. founders will own 8 million coins, while average BTC investor will own 4,250-5,250.  So basically we give you our money and you get the money and the coins.  Genius! It also means that every other coin / crowd funding project will have an 8% premine in addition to any premine the project decides to keep itself.

I see your point but this is a relative argument. In the business world e.g. Google, you have Angel investors getting in at pennies (like here) and then later when there is a public offering, your only chance is at a price that is magnitudes greater. So, the 8% here (which I agree with you on being high), relative to a typical start-up business, is probably miniscule.

If the model is truly broken here (and I'm not saying it isn't) then a competitor can easily come in with a more fair model and take the investors money. But, we don't see that happen.

Its about sharing

edit - They also might not get any where near there extended goal. So it will be interesting and for sure show how "investors" feel here.

[Chang Hum]

The 8% figure is only applicable if they raise 21500 Bitcoins realistically it's going to be a much higher %age depending on how much they raise.

[BitzMD]

Any more info on this project?

Pros and cons of investing

Expected ROI?

[tonyk]

As of right now your counter says more than 25% of 4500 BTC goal collected and the send-to address shows only about ~730 BTC?
 Why?

[MisterGreen]

So you're located in Berlin Germany i presume? Then good luck with the German tax laws and the Federal Financial Supervisory Authority (BaFin).

With that amount of BTC you will be in trouble fast in Germany without any clearance by the BaFin. And getting a clearance isn't easy without any cooperation with a big German bank. And the same implies on the taxes for BTC, especially for business related stuff.

I also don't see any contact address on your website or a sales tax identification number which is a must by German laws for German companies.

But i guess you only forget that because of your big openening party. 

[nikola384]

Just want to let know all of future participants in this IPO (Not that I advise you to participate!!!)

Before sending your BTC for the IPO check the current price of SWARMPRE (that is what you get for sending BTC to the address)!
 
Currently you can get better deal like 5600 – 5700 SWARM/BTC. Actually even better deal than at any point in the IPO!

[Its About Sharing]

Just want to let know all of future participants in this IPO (Not that I advise you to participate!!!)

Before sending your BTC for the IPO check the current price of SWARMPRE (that is what you get for sending BTC to the address)!
 
Currently you can get better deal like 5600 – 5700 SWARM/BTC. Actually even better deal than at any point in the IPO!

I checked on that, and your are a bit misleading. The rate is 5700 for 1 BTC BUT they are selling .09 BTC worth ( roughly $54).
Here is a screen shot. I see only one decent sized lot (.72BTC worth) available at a discount.
I doubt someone is selling at a loss so soon, and wonder if that is a pre-sale or something along those lines?

[Crypto_Enthusiast]

Ok so my Counterwallet now has some GOLDTICKET - can someone please explain to me what this is? Google, Facebook & Twitter bring up no info on it.

Also, do you have an official forum in the works? I need somewhere to go in order to ask questions, get involved with the community etc.

Kind Regards

[nikola384]

Just want to let know all of future participants in this IPO (Not that I advise you to participate!!!)

Before sending your BTC for the IPO check the current price of SWARMPRE (that is what you get for sending BTC to the address)!
 
Currently you can get better deal like 5600 – 5700 SWARM/BTC. Actually even better deal than at any point in the IPO!

I checked on that, and your are a bit misleading. The rate is 5700 for 1 BTC BUT they are selling .09 BTC worth ( roughly $54).
Here is a screen shot. I see only one decent sized lot (.72BTC worth) available at a discount.
I doubt someone is selling at a loss so soon, and wonder if that is a pre-sale or something along those lines?

The rate is 5700 for 1 BTC  !!!!! Sorry if you can not buy as much as you like at that price.

[Its About Sharing]

Just want to let know all of future participants in this IPO (Not that I advise you to participate!!!)

Before sending your BTC for the IPO check the current price of SWARMPRE (that is what you get for sending BTC to the address)!
 
Currently you can get better deal like 5600 – 5700 SWARM/BTC. Actually even better deal than at any point in the IPO!

I checked on that, and your are a bit misleading. The rate is 5700 for 1 BTC BUT they are selling .09 BTC worth ( roughly $54).
Here is a screen shot. I see only one decent sized lot (.72BTC worth) available at a discount.
I doubt someone is selling at a loss so soon, and wonder if that is a pre-sale or something along those lines?

The rate is 5700 for 1 BTC  !!!!! Sorry if you can not buy as much as you like at that price.

Except you didn't say rate. You said "5600 – 5700 SWARM/BTC" and that is misleading. 

[Crypto_123]

Perhaps a separate topic in which you bundle all information is useful. Couldn't find much on the website :/

Good idea. I'll work on that this evening (still recovering from our launch party last night in Berlin).

Wow, you guys really seem to be worth an investment

[Crypto_Enthusiast]

Perhaps a separate topic in which you bundle all information is useful. Couldn't find much on the website :/

Good idea. I'll work on that this evening (still recovering from our launch party last night in Berlin).

Wow, you guys really seem to be worth an investment

This is NOT looking good so far.

I asked a question over 8 hours ago on the announcement thread https://bitcointalk.org/index.php?topic=653568.msg7387615#msg7387615 but no one has bothered getting back to me.

There are no official forums, so what are my options? Post on here and hope to not be ignored for another 24 hours?

For a 6 figure salary, I would expect 24/7 support.

[armin22]

"1/3 to salaries" 1/3rd of 10'000BTC for salaries, where the fuck do you guys live? Got mansions to pay for


$2,029,000 out of $6,084,000 will go to just salaries. Might want to re-think this.


"1/3 to SWARM coin launch funds, and the rest to Swarm Agents and miscellaneous."

WHAT THE FUCK?

[Crypto_Enthusiast]

Salaries appear for too high, especially considering the lack of accessibility & support.

[Crypto_Enthusiast]

I am in the Skype chat room, & even in there they are unresponsive..

[armin22]

I am in the Skype chat room, & even in there they are unresponsive..

Not looking good.

[Crypto_Enthusiast]

Want to sell 7,500 Swarm @ 10% below market price. PM me if interested.

[fractastical]

BitAngels due diligence report on SWARM (https://docs.google.com/document/d/12VLfibhGGSwy4cuHUZUG5ngEVTZoZ6_dKKqLGwhhdik/edit):

This is a live document and will be updated based on most recent information.


Due Diligence Report on SWARM

The following report is NOT intended as advice to purchase software. This report is presented for purely informational purposes. ALWAYS conduct your own due diligence before buying digital tokens associated with a software project during a crowdsale.

TLDR:
SWARM http://www.swarmcorp.com/ is an open source project to build a “distributed incubator to help people fund their ideas” by issuing digitial tokens on top of protocols such as Counter Party and the Master Protocol (potentially more in the future, SWARM is platform agnostic). The current project client is built on top of Counter Party, however SWARM have announced plans to also integrate Master Protocol in the coming months. Their crowdsale starts June 17th at 12:00 a.m. midnight U.S. central time. The team is has the full technical stack covered. This will be one of the first front end interfaces to create digital tokens (though it does have competition in Coin Powers and other efforts) and relies on the Bitcoin Protocol and Counter Party to function. The price of the tokens will rise during the period of the crowdsale based on the volume of SWARM coins that are purchased with bitcoins. See http://www.swarmcorp.com/ for details. BTC is the only currency accepted during the crowdsale.

View the SWARM Presentation and Q&A at the following link: https://drive.google.com/file/d/0B0Ibqr7Y2XcNNlowMzNJZjkwT0U/edit?usp=sharing

Summary
The SWARM project was founded by Joel Dietz to make issuing digital tokens as easy as the press of a button on a mobile app. The project decided to issue it own digital token in order to fuel development and acquisition of market share. The sale of these digital tokens known as SWARM begins June 17th at 12:00 a.m. midnight U.S. central as part of a crowdsale.

Crowdsale On June 17th at 12:00 midnight U.S. Central Time
A total of 100,000,000 SWARM Coins are available for sale during the crowdsale event which runs for a period of 33 days until July 20th or until the total number of SWARM Coins is sold.
The pricing of the SWARM tokens is determined based on the volume that is sold. Specifically SWARM is selling SWARM Coins at a rate of 5,250 SWARM coins per bitcoin the participant sends in. This rate of SWARM declines the more bitcoin are collected until four thousand BTC are collected and the price increases to 4,250 SWARM per bitcoin. This generation process could continue all the way until twenty one thousand bitcoin are collected and the generation rate falls to 3,750 SWARM per bitcoin.

Details found at: http://www.swarmcorp.com/

It is worth noting that the SWARM team does not expect to collect the maximum number of bitcoins by selling out all of their tokens (though it is possible if demand has been underestimated). Instead, the project has set a range of price points and is leaving it up to the market to decide the proper price of SWARM Coins. If the market decides this projects is highly valued, than the price of the coins will reach a higher level during the crowdsale. Conversely, if the market decides that this projects is not as highly valued, than the price of the coins will not rise as high during the crowdsale. Either way the pricing of these tokens is for the market to determine.

Team
The co-founders of SWARM (Joel Dietz and Jef Cavens) are both located in Berlin, Germany at the moment though both are originally from the U.S. and often reside in Palo Alto. Joel’s focus on is the back end of the application and Jef is focused on the design aspects of the application. Here I will highlights from their back grounds.

Joel Dietz (www.linkedin.com/in/joeldietz)
Educated at Brown, Joel has spent the last seven years in a variety of positions from software developer to startup entrepreneur. He has made many contributions to the Bitcoin community the past several years as part of projects ranging from Master Protocol to Ethereum. Now with a focus on Bitcoin 2.0 technologies. 

Jef Cavens (www.linkedin.com/in/thomasverhoye) 
Jef has spent the past 14 years in different design and creative roles in the software space. His strong design influence is felt in the presentations, application wire frames and websites that SWARM has already produced.

Economics
The utility of SWARM is based on the charging of a fee to users in order to issue their digital tokens. This fee is taken in the form of a small percentage of the digital tokens issued by the user (around 2%, subject to change) at the time they are generated. This fee is then sent to different parties. 1% of the fee to all the holders of SWARM coins. 1% to the SWARM Foundation.

While this fee provides a great deal of utility to the holders of SWARM, it also makes the protocol more vulnerable to the risk of folking and alternative versions of the project emerging that don’t charge a fee. If the market will accept this fee remains to be seen, though for perspective it is less than half of the fee that current incubators such as 500 startups and Y Combinator charge (typically 6% or more).

Technical Description
The creation of the SWARM clients is not technically difficult in the sense that they do not have to research or provide any new cryptographic proofs for the functioning of the system. Instead, the system relies on the existing Bitcoin and Counter Party for its basic functions and transfer of value.

Challenges
There are a number of existing incubators such as 500 Startups and Y Combinator, and platforms such as Angel List that offer projects an ability to raise development funding for their ideas. While today, these services are centralized and use legacy financial models, if these competitors were to begin embracing crypto currency and change their models to that of open source, they would be tough competition for SWARM. Depending on how much network size effect the SWARM project is able to gain before its competitors adopt the same or similar model will largely determine its success.

There are also new entrants into the this space including Coin Powers, which are using the Counter Party and Master Protocols in order to provide functionality very similar to that of SWARM and will be competing for similar users. Again, the speed at which the SWARM team can move developmentally and to grab market share is likely to have a dramatic impact on how successful their project is.

[danonthehill]

Don't see any objective due diligence there.  Looks more like a press release.  No mention of the huge premine or how the existing premine will also transfer to future coins released on the platform, allocation of salaries, time frame for development etc.

[danonthehill]

Perhaps a separate topic in which you bundle all information is useful. Couldn't find much on the website :/

Good idea. I'll work on that this evening (still recovering from our launch party last night in Berlin).

Wow, you guys really seem to be worth an investment

Additional $45,000 dollars to be allocated to future parties! 

[fractastical]

Additional $45,000 dollars to be allocated to future parties! 

Only if you want there to be girls instead of just cryptonerds 

[danonthehill]

Additional $45,000 dollars to be allocated to future parties! 

Only if you want there to be girls instead of just cryptonerds 

I was referring to your own googledoc for allocation of ICO funds. That's a lot of Dom Perignon.

[fractastical]

Not quite sure how we got all these Bitcointalk threads, but I'm discontinuing these extra threads. See the new official thread for more information.

Requesting DistributedBuzz post link in original post and remove any other information.