[XCR] Crypti | Dapps | Sidechains | Dapp Store | OPEN SOURCE | 100% own code | DPoS

[MEGAman]

Really? 2-3 days worth of coding for a mediocre developer to make possibly $100,000 USD? Not to mention there are already a ton of JS implementations of the code - it's obviously not from scratch. Same shit different box.

I presume you can code Crypti clone in 2-3 days with all the described and planned features?
If yes, please let me know once you launch it, I will be the first to invest knowing there is such a rock-star developer beyond it.

Otherwise, I'd suggest you to hold on with these speculations until Crypti becomes available for download, so you could see the amount of (obfuscated for now) code there.

When they release it, I will bet you I could code a clone in 3 days, yes. When is the last time a coin followed through on "planned features"? Never? They use those "plans" to string you along until they can unload their stash of 15%. This is why devs should never get more than 1% without mining it themselves. I'm cool with compensation and motivation but not cool with robbery.

[1715121488]

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[SyRenity]

* Vested developers Crypti, that will be released to developers as the time passes
* Capped sum per buyer, allowing to prevent "whailing" from heavy buyers
* Voted management of raised BTC funds, to ensure they are spent only for the benefit of Crypti progress

At least 1 and 3. Capped sum is pointless since it's been proven how easily manipulated it is. Basically, people need to approach every altcoin as a scam until proven otherwise. As many safeguards as possible must be in place. I just haven't seen anything here that demonstrates this coin has any value or utility. JS source? That is nothing new. IPO coins are extremely risky and several developers of IPO coins have actually been prosecuted since the distribution method violates a number of laws itself while also making it easy to cheat. This whole market is about greed on both sides. Nobody is doing a damn thing to advance the movement or better the world. It's about easy money and these coin devs are at the top of the food chain right now ripping you all off.

While I agree with you that every new start is risky (Bitcoin and NXT anyone?), I do personally believe there are developers who do things for sake of advancing the crypto field (counterparty, ethereum, sia to name a few). We want to do the same with Crypti, hence we plan the budget so carefully so the team won't run of funds in the middle.

And as per 1 and 3, you will be happy to know these are under active discussions, and actually one of the reasons that we decided to postpone the pre-sale start.

[SyRenity]

When they release it, I will bet you I could code a clone in 3 days, yes. When is the last time a coin followed through on "planned features"? Never? They use those "plans" to string you along until they can unload their stash of 15%. This is why devs should never get more than 1% without mining it themselves. I'm cool with compensation and motivation but not cool with robbery.

You meant taking Crypti existing code and simply cloning it after tuning couple of parameters? It's indeed doable within even a day, though I wouldn't really call it development...

As per 15%, a hefty part of it going to investor who was willing to fund Crypti development up to this point. You believe he does not deserve it either, and should fund the development without compensation?

Regarding the remaining portion of 15% that goes to developers, vesting is exactly the mechanism that will ensure the developers fulfill the planned features.

[iGoodw1n]

Set max cap 500btc and set dev percent depends on IPO. 300 BTC 10% for dev, 400 BTC 9% for dev, 500 BTC 8% for dev. What do you think? For example if you will raise 300 BTC you will get 4% for fund and 10% for devs. If 500 BTC 8% for devs and zero for fund.

[SyRenity]

So if you think that the devs of this coin are going to stick around after it gets listed on a popular exchange, you are smoking funny tobacco.  They will make lots of BTC in the IPO, and another smaller stash in the dump-after-exchange-listing.

Again - the suggested solutions are:

* Vesting on the developers (to prevent P&D)
* Foundation that will control the raised BTC expenses, with monthly reports on their usage

I believe this solves your concerns?

[SyRenity]

Set max cap 500btc and set dev percent depends on IPO. 300 BTC 10% for dev, 400 BTC 9% for dev, 500 BTC 8% for dev. What do you think? For example if you will raise 300 BTC you will get 4% for fund and 10% for devs. If 500 BTC 8% for devs and zero for fund.

I frankly don't understand, why raised funds have to be capped, if they going to be managed by foundation?
Unfortunately we can't touch the 15%, due to them being distributed (and potentially vested) among the launch team (investor and developers).

Hence the additional 10% being distributed according to raised sum.

[SyRenity]

Дeньги c IPO идyт нe paзpaбoтчикaм, a нa дaльнeйшyю paзpaбoткy. Бyдeт btc aдpec, пo кoтopoмy бyдyт oтчeты кaждый мecяц, кyдa и чтo yшлo.
Пpoцeнт пo пpeмaйнy cкopeй вceгo бyдeт пepecмoтpeн, мы oбcyждaeм этo.
Пo пoвoдy development fund (10%) oн бyдeт yмeньшaтcя в зaвиcимocти oт кoличecтвo btc нa IPO. Cмoтpитe пepвый пocт.

and could you please explain this in english too.

Google translator:

Money from the IPO are not developers, and for the further development. Btc is the address to which reports will be every month, and where it has gone.
Premaynu percentage is likely to be revised, we are discussing it.
About development fund (10%), it will be reduced depending on the amount of btc an IPO. See first post.

To be more exact:
* Raised funds are for purpose for further development, with monthly reporting
* 15% are being discussed (with vesting options - Sy).
* 10% are gradually lowered according to the raised sum. See OP for more details.

[iGoodw1n]

Set max cap 500btc and set dev percent depends on IPO. 300 BTC 10% for dev, 400 BTC 9% for dev, 500 BTC 8% for dev. What do you think? For example if you will raise 300 BTC you will get 4% for fund and 10% for devs. If 500 BTC 8% for devs and zero for fund.

I frankly don't understand, why raised funds have to be capped, if they going to be managed by foundation?
Unfortunately we can't touch the 15%, due to them being distributed (and potentially vested) among the launch team (investor and developers).

Hence the additional 10% being distributed according to raised sum.

Ok, you want raise 2000 BTC and get 15% of all coins.

[SyRenity]

Even IF the devs have good intentions.............. well, just remember this song:

MONEY CHANGES EVERYTHING

Unfortunately too well known human nature flaw, we are discussing some transparent mechanisms that will allow avoid or minimize it.

[SyRenity]

Ok, you want raise 2000 BTC and get 15% of all coins.

We naturally want to raise as much as possible to ensure sufficient funding for Crypti, that said the free market will decide how much the Crypti potential worth.

As per 15%, I explained already several times why this needed (investor compensation and developers commitment).
It all comes to one fact - you can live with that and know that these 15% are used to ensure a solid future for Crypti, or you can't. As simple as that.

[MEGAman]

Ok, you want raise 2000 BTC and get 15% of all coins.

We naturally want to raise as much as possible to ensure sufficient funding for Crypti, that said the free market will decide how much the Crypti potential worth.

As per 15%, I explained already several times why this needed (investor compensation and developers commitment).
It all comes to one fact - you can live with that and know that these 15% are used to ensure a solid future for Crypti, or you can't. As simple as that.

Right - giving these guys 15% of the coins for free before they have proven a damn thing seems real smart. At least require proof these guys have the skills required to pull it off (which I assure you they don't). Easy out.

[iGoodw1n]

Ok, you want raise 2000 BTC and get 15% of all coins.

We naturally want to raise as much as possible to ensure sufficient funding for Crypti, that said the free market will decide how much the Crypti potential worth.

As per 15%, I explained already several times why this needed (investor compensation and developers commitment).
It all comes to one fact - you can live with that and know that these 15% are used to ensure a solid future for Crypti, or you can't. As simple as that.

If 15% will be used to ensure a solid future, why you need a fund with 2000 btc. I think fund with raised IPO will be used to ensure a solid future. 

[megashira1]

Getting a foundation set up to manage funds is a step in the right direction.

[Litoshi]

I still have not gotten an answer to my question:

What avatars has CRYPTSI been using on bitcointalk.org forum prior to his NEWBY "Cryptsi" avatar, obviously invented for this coin?

Without full disclosure, you guys are just another Russian Gang out to fleece the world.

[S3MKi]

Ok, you want raise 2000 BTC and get 15% of all coins.

We naturally want to raise as much as possible to ensure sufficient funding for Crypti, that said the free market will decide how much the Crypti potential worth.

As per 15%, I explained already several times why this needed (investor compensation and developers commitment).
It all comes to one fact - you can live with that and know that these 15% are used to ensure a solid future for Crypti, or you can't. As simple as that.

If 15% will be used to ensure a solid future, why you need a fund with 2000 btc. I think fund with raised IPO will be used to ensure a solid future. 

same. i don't understand that too.

[GreXX]

Set max cap 500btc and set dev percent depends on IPO. 300 BTC 10% for dev, 400 BTC 9% for dev, 500 BTC 8% for dev. What do you think? For example if you will raise 300 BTC you will get 4% for fund and 10% for devs. If 500 BTC 8% for devs and zero for fund.

I frankly don't understand, why raised funds have to be capped, if they going to be managed by foundation?
Unfortunately we can't touch the 15%, due to them being distributed (and potentially vested) among the launch team (investor and developers).

Hence the additional 10% being distributed according to raised sum.

Ok, you want raise 2000 BTC and get 15% of all coins.

We never said 2000 BTC. The community has been throwing out numbers like that. I wouldn't complain obviously if we raised 2000 BTC as that would allow us to market on a level to compete with BTC. We already set it to where we would put the other 10% back to investors if we raise 500 BTC so I think we are setting minor caps internally. I think internally the most often discussed goal for us was the 250 BTC point. If we could hit 250 BTC, I think we could accomplish some really exciting long term goals.

[GreXX]

Ok, you want raise 2000 BTC and get 15% of all coins.

We naturally want to raise as much as possible to ensure sufficient funding for Crypti, that said the free market will decide how much the Crypti potential worth.

As per 15%, I explained already several times why this needed (investor compensation and developers commitment).
It all comes to one fact - you can live with that and know that these 15% are used to ensure a solid future for Crypti, or you can't. As simple as that.

Right - giving these guys 15% of the coins for free before they have proven a damn thing seems real smart. At least require proof these guys have the skills required to pull it off (which I assure you they don't). Easy out.

No BTC will be distributed by the Escrow agents until we have completed the beta phase and are launching the main net and we will not launch the main net until the community and our development team believe it is ready for prime time. So there is no free reward for us and we will have proven that we can develop the product that we say we can.

The beta phase is for the community to start testing the wallet, see where we are at and what progress we are making, and also to see if it is something they want to invest in. Once that phase is complete and everyone is happy with where we are at with the client and network, then we will launch the main net. At this point the Escrow will facilitate transfers.

On top of that, we are discussing the vesting process and tying the developer funds to either a timeline based release, or a specific development goal release schedule by the escrow agent so that the community will be ensured that the development we promise will be delivered on. This isn't 100% agreed to by all members yet but the 4 who have responded so far have all voted Yes to vesting to give you an idea of where we stand. I personally have voiced my agreement to allowing my entire stake in Crypti to be vested based on specific goals or timeline, whichever we may decide on if any.

We also have some more announcements hopefully to come on some decisions to some of these matters, escrow details, as well as my personal goal to hopefully release a rough draft of the charter and bylaws for the Foundation, how it will function, and how we will distribute bounties and development funds to community projects from the developer IPO fund. I think if you stick around you will see that we are not going anywhere and have long term goals for Crypti that everyone will be excited about.

[GreXX]

Ok, you want raise 2000 BTC and get 15% of all coins.

We naturally want to raise as much as possible to ensure sufficient funding for Crypti, that said the free market will decide how much the Crypti potential worth.

As per 15%, I explained already several times why this needed (investor compensation and developers commitment).
It all comes to one fact - you can live with that and know that these 15% are used to ensure a solid future for Crypti, or you can't. As simple as that.

If 15% will be used to ensure a solid future, why you need a fund with 2000 btc. I think fund with raised IPO will be used to ensure a solid future. 

The BTC raised from the pre-sale will go to the future development fund. The 15% will be the earnings of the development team and will be a stake in Crypti. If we use the vesting schedule we are discussing, that 15% will be released to the developers based on certain milestones. Therefore, we would have a vested interest in the features, popularity, and community of Crypti continuing to thrive. So in essence, both portions ensure a solid future. One gives us the funds to do bounties and fund development projects to increase Cryptis feature set and exposure, the other ensures the developers stick around and stay motivated to see these projects through as if they don't, their stake they eventually receive will be worthless.

I think that was kind of the line of thinking he was trying to portray.

[327037584]

SyRenity，You are the two gen 2.0 developers?

[tobeaj2meraa]

May be this is another CHA or Safecoin. let's wait and see.