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

[xtester]

So will people be able to buy crypti directly with Nxt? I hope there will be not price difference as done by maidsafe for mastercoin, since this could cause some real problems.

Regarding the cap, have you considered setting a max pre-market cap/valuation so as to avoid over dilution which will not be in the best interest of your investors? As user crypti pointed out, 300-500 btc cap would constitute a good entrance and opportunity for investors, but I don't think >1000 btc will be in their best interest or advantage. With the additional escrow option for Nxt users I think there is a scenario in which >500 btc could happen. Any thoughts on that?

All our issuance is based on BTC, so unfortunately NXT owners will have to convert to BTC first.


As per max market cap, we considered it as well, however eventually reached a conclusion it's best to let the market decide. Limiting to max market cap is not fair to any potential late buyers, and alternatively trying to re-balance and refund everyone with excess funds at the end of pre-sale will be quite a difficult task with a high margin of error.

That said, Dgex quite successfully prevented high-worth NXT individual from purchasing a non-proportionally large amount of FIMK stake, and we believe same safeguards will be the solution for Crypti pre-sale.

Right, wouldn't this be an even better option though: set an IPO time of 4 weeks OR a cap of 650 -750 btc which should be displayed and updated live? This way you have a margin of 150 - 250 btc more than your minimal target, you would also cover the interest of the investor by limiting the over dilution while minimizing the need to refund people, since everything would be displayed live.

That said, I think all the incentives would be in place for people to invest in a timely manner so the number of late investors would probably be negligible to none. Late investors would also be able to purchase more crypti once it has launched since you have already an exchange planned immediately after.

This option would allow the market to freely decide the price/dilution, but it would be good to set an upper limit to make sure the investors who trust you do not get burned in the process.

[Momimaus]

So will people be able to buy crypti directly with Nxt? I hope there will be not price difference as done by maidsafe for mastercoin, since this could cause some real problems.

Regarding the cap, have you considered setting a max pre-market cap/valuation so as to avoid over dilution which will not be in the best interest of your investors? As user crypti pointed out, 300-500 btc cap would constitute a good entrance and opportunity for investors, but I don't think >1000 btc will be in their best interest or advantage. With the additional escrow option for Nxt users I think there is a scenario in which >500 btc could happen. Any thoughts on that?

All our issuance is based on BTC, so unfortunately NXT owners will have to convert to BTC first.


As per max market cap, we considered it as well, however eventually reached a conclusion it's best to let the market decide. Limiting to max market cap is not fair to any potential late buyers, and alternatively trying to re-balance and refund everyone with excess funds at the end of pre-sale will be quite a difficult task with a high margin of error.

That said, Dgex quite successfully prevented high-worth NXT individual from purchasing a non-proportionally large amount of FIMK stake, and we believe same safeguards will be the solution for Crypti pre-sale.

Right, wouldn't this be an even better option though: set an IPO time of 4 weeks OR a cap of 650 -750 btc which should be displayed and updated live? This way you have a margin of 150 - 250 btc more than your minimal target, you would also cover the interest of the investor by limiting the over dilution while minimizing the need to refund people, since everything would be displayed live.

That said, I think all the incentives would be in place for people to invest in a timely manner so the number of late investors would probably be negligible to none. Late investors would also be able to purchase more crypti once it has launched since you have already an exchange planned immediately after.

This option would allow the market to freely decide the price/dilution, but it would be good to set an upper limit to make sure the investors who trust you do not get burned in the process.

They don´t want to cap it. They were asked a couple of times before. They want as much money as possible. This is maidsafe 2.0. Investors will have to wait a long time to get even.

[Litoshi]

kind of missing all the trolls that were here.....seems like the Dev's shut them up...i'll bet Megaman and Lithoshi both will invest couple of BTC.
well done guys it's just looking better and better !! cant wait till the 7th!ßß

No, I wont invest.  Like I posted earlier, its like watching your neighbor return home from work early while the wife is banging the gardener.  You know what the ending will be, but you cant help watching.

[andreibi]

Little announce:

In the end of week we will post new version with bug fixes, some changes.
Fees will be changed, some bugs will be fixed that we got from community.

On next week we will post version with PoS for everybody and new nodes.
Thanks.

Still no answer to my question Cryptsi:


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

actually a very good question. Only thing missing is an instant answer by cryptsi.  

As i said. My name is Boris Povod. I'm node.js developer from Russia. My odesk account - https://www.odesk.com/o/profiles/users/_~0117967abb1f5d0a53/ .  My ip address: 176.212.92.57. Is enough? You can google another devs and i think you will find something info of they.

Hi Boris,

Good to know that you're an oDesker like myself. Love what you did on https://parse.com/ and https://itunes.apple.com/ru/app/doopi/id729138395?mt=8

I guess being a Javascript and Mobile App Developer pays a lot better than a Wordpress/Html/CSS Developer.

Looking forward to your IPO.

[tobeaj2meraa]

This thread has been read 21452 times and IPO will last a month, so when IPO starts, there will be a lot of guys join in , it is good for developer but not so good for our investors.

[tobeaj2meraa]

Some exciting news and updates (the thread OP will be updated later):

Dgex will participate the pre-sale as an escrow platform, in addition to Maxmint! Buyers will be able to either use their BTC / NXT balances (converting to BTC), or deposit and buy from the platform (with experience similar to FIMK IPO).

With this addition we hope to cater both to BTC and to NXT owners, the two crypto projects that we highly respect.


Cap per buyer of 10% will be introduced! Following community calls to ensure fairer distribution, we have decided to introduce a maximum buyer cap of 10% total funded, refunding any extra BTC received in the end of the process. Dgex will assist in this with their platform, and we are discussing possible methods with Maxmint.


Vesting for 15% + 0-10% (pending raised amounts) details are nearly agreed, we will post the exact details later with thread OP update.


With these changes, we hope the community will be even more assured in the quality of the project and the launch team joint commitment to it's success.

So I know the Dev's logic, they just want to raise money as much as possible, they lack of money, if total IPO BTC exceeds 500BTC, there is so less profit for investor but take more risk, anyway, let's wait and see, for myself, I will invest 0.5BTC at most instead of 5BTC,it's too risky.

[englishbad]

When after the ipo, I think you should open your account, let us work together to supervise, each big spending should explain to the public, I think it's a good note

[tobeaj2meraa]

When after the ipo, I think you should open your account, let us work together to supervise, each big spending should explain to the public, I think it's a good note

If they don't, how can we do?

[tobeaj2meraa]

@DEV, no offensive, let me say it frankly, if every potential buyers join the IPO, there will be no buyers besides dumpers when it hits exchange, all coins will stay in investor's hand, but they lost money, so please consider your investors, if no one invest in this coin, this will be a useless coin, win-win is better for everyone.

[GreXX]

When after the ipo, I think you should open your account, let us work together to supervise, each big spending should explain to the public, I think it's a good note

If they don't, how can we do?

Creating the charter and rules for how the Foundation will function, how it's board will be created, and what exactly will be required as far as votes go in order to release developer funds for a project is a very in depth, time consuming, and tricky policy to set. The details of the Foundation are continually being discussed and I assure you it will consist of both the development team of Crypti as well as community members. We want to ensure that the community is as much a part of deciding where development funds will be allocated as we are. The wallet addresses will all be open and no money will be dedicated to a project without community support and input.

There are several options we can use to determine how funds will be allocated. One such method is by community voting wherein we require a certain level of community support in order for a project to secure funding from the development team. So in essence, the community will be developing and presenting a project, we will post the project up for a vote (sort of like a kickstarter but instead of the community pledging funds they will pledge support) and then if a goal is met, we will provide a relevant amount of funding to help the project get off the ground. In essence a community driven bounty system. I am really pushing to develop a system like this and think that I have a solution that would be fairly easy to implement and wouldn't take too long to get off the ground after launch.

These are the types of ways in which the money raised in the pre-sale will be used for development. While some may be awarded to the development team based on the stretch goals set out to continue development of the wallet and features, etc (we need additional programmers or new skills). A large portion of the funds you will be investing in the pre-sale will go back into the hands of community projects. If the community believes a project is worthwhile and should be developed and we agree that it will help push Crypti forward, we will provide bounties to those projects. It's almost like a reverse bounty in essence. Instead of us saying we want this made, the community will propose projects and with enough support, secure funding for development. In this way, we aren't limiting the ideas or features to just what the development team can come up with, but rather opening it up to all ideas from anyone who knows about Crypti. I think this will help continue to innovate and push Crypti to the top. This is why we don't want to cap investments. NXT and Bitcoin are so successful because of all of the community support and development. We feel like if we have the funding, we can develop these things more quickly and efficiently than if it was just our team, and push Crypti to the head of the pack much faster.

I hope that makes sense?

[amanai99]

kind of missing all the trolls that were here.....seems like the Dev's shut them up...i'll bet Megaman and Lithoshi both will invest couple of BTC.
well done guys it's just looking better and better !! cant wait till the 7th!ßß

No, I wont invest.  Like I posted earlier, its like watching your neighbor return home from work early while the wife is banging the gardener.  You know what the ending will be, but you cant help watching.

So I guess you should leave this forum, and hurry up back to your wife....

[Litoshi]

kind of missing all the trolls that were here.....seems like the Dev's shut them up...i'll bet Megaman and Lithoshi both will invest couple of BTC.
well done guys it's just looking better and better !! cant wait till the 7th!ßß

No, I wont invest.  Like I posted earlier, its like watching your neighbor return home from work early while the wife is banging the gardener.  You know what the ending will be, but you cant help watching.

So I guess you should leave this forum, and hurry up back to your wife....

Failed flame from someone that slept with his mother too long.

[amanai99]

kind of missing all the trolls that were here.....seems like the Dev's shut them up...i'll bet Megaman and Lithoshi both will invest couple of BTC.
well done guys it's just looking better and better !! cant wait till the 7th!ßß

No, I wont invest.  Like I posted earlier, its like watching your neighbor return home from work early while the wife is banging the gardener.  You know what the ending will be, but you cant help watching.

So I guess you should leave this forum, and hurry up back to your wife....

Failed flame from someone that slept with his mother too long.

Don't worry, I'm not sleeping with my mother. And I don't know what kind of brain it should be to think things like that. I think you are pervert. That's why you are always dissatisfied. If you don't like this thread you can just leave.
I'm surprised that you're still not choked with your negative. Criticize whatever devs do.
You and several users here are such annoying... I will thank God when you just disappear from this thread.
And stop watching after your neighbor. Do some work. Maybe you become more kinder.

[Mrrr]

There are a lot of people watching this thread but all I see is mudslinging and incestuous relationships.

C'mon devs. Get a grip and feed us some positive Karma.

[crypti]

When after the ipo, I think you should open your account, let us work together to supervise, each big spending should explain to the public, I think it's a good note

We will do it. Reports  of payments from our accounts every month.

[RoyBtc]

does it start to pre-sell ?

[dbshck]

does it start to pre-sell ?

Unfortunately, IPO doesn't start yet.

when will the ipo start?

Date will be announced soon. I can notify you via PM or email (just send me message via PM).

[Litoshi]

You can prove to me that this is not a scam by altering the IPO like this:

1) Investors register for the IPO, but do not send in any BTC for escrow.  Only a BTC address needed for this.

2) after the coin launches, the registered investors then have 30 days to send the BTC for escrow and receipt of their coins.

This will:

1)  lock in the investors by pre-registration

2) allow them to exit the IPO if the coin fails.  

3) prevent "first day" coin dumps on an exchange

4) place the financial burden of failure on the devs (where it belongs) instead of the IPO investors.

[GreXX]

You can prove to me that this is not a scam by altering the IPO like this:

1) Investors register for the IPO, but do not send in any BTC for escrow.  Only a BTC address needed for this.

2) after the coin launches, the registered investors then have 30 days to send the BTC for escrow and receipt of their coins.

This will:

1)  lock in the investors by pre-registration

2) allow them to exit the IPO if the coin fails.  

3) prevent "first day" coin dumps on an exchange

4) place the financial burden of failure on the devs (where it belongs) instead of the IPO investors.

No offense, but who are you to make demands of anyone? That seems like quite the arrogant move.

I don't think we have anything to prove to you and the fact that you posed your ideas in this manner actually makes me personally more inclined to ignore them.

If you are still unsure of our motives or the legitimacy of this launch, I would ask that you just stick with us, don't send any money, and only send when you are comfortable.

The way in which we are doing escrow is already very similar to what you are asking for. Look, no matter when you give people access to funds, the dumpers will still dump. Whether it be first day or 1 year from now, the day they have access, some investors will simply dump. That is the entire reason some people invest in launches like this. They want the quick buck they think they will get from flipping on day 1. That is part of the risk investors take when they support an early project.

Even Facebook saw this with their IPO. It debuted at $38 per share at the launch of the IPO and one week later closed at $26.81. That is a huge decline but is indicative of the nature of investors. Most investors expect an immediate jump in price, they dump as fast as possible to take their initial profits, and then they run for the hills. That is OK, if some people want to do that, that is part of how these types of investment based funding systems work. However, the good part of that is, it gives us initial capital to improve the product and it gets rid of the short term investors. This leaves us with dedicated long term investors who will help the community grow Crypti into a top 3 Crypto Currency.

Facebook today is at $66 a share. Long term investors who held have seen considerable growth. That is what our goal is and what we hope yours is too. I am 99% confident that the we will be announcing a strong vesting schedule soon so that the development team will periodically receive their stake over the course of the first YEAR of development. That means the development team by design will be long term investors which will only help the currency in the long term.

30 days won't determine whether or not Crypti will fail. It will take months or years to know whether or not the market will adopt and support Crypti. Look at Litecoin. Litecoin was launched in October of 2011 and yet now, in the Summer of 2014 we finally know that Litecoin will probably fail and see consistent price deflation and eventually be irrelevant. It took 3 years, with several really strong points where Litecoin looked like a serious alternative to Bitcoin, for it to finally start to lose strong support and now we have whales dumping left and right.

Investors will be protected with the escrow terms. If the coin does not launch or the launched coin does not function, coins will be returned to investors. That being said, we won't launch until we have everything working so this is a non factor.

The devs will see the biggest loss from failure. With portions of our stake being released quarterly, if the value drops to 0.0000001, our stake will be useless before we even get it. I feel like this is a very fair safeguard for investors to know that we will work as hard as we can to ensure that Crypti and it's valuation don't tank.

[amanai99]

I have the same opinion as GreXX, just ignore Litoshi and same trolls, otherwise this thread could become meaningless.