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crypti (OP)
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July 07, 2014, 11:20:40 AM |
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As a "non-troll" I have to agree that 10% cap is worthless.......
2-4% would be much efficient and based on the interest here should still allow a BIG investment
Maybe it's real big, i will discuss with team. Numbers it's not my responsibility. |
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tobeaj2mer01
Legendary
 Offline
Activity: 1098
Merit: 1000
Angel investor.
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July 07, 2014, 11:26:49 AM |
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As a "non-troll" I have to agree that 10% cap is worthless.......
2-4% would be much efficient and based on the interest here should still allow a BIG investment
Maybe it's real big, i will discuss with team. Numbers it's not my responsibility. I think cap for per user is useless, if a guy want to invest more, he can use some sock poppet. |
Sirx: SQyHJdSRPk5WyvQ5rJpwDUHrLVSvK2ffFa
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huxdy
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July 07, 2014, 01:35:28 PM |
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I want to see the project to start as soon as possible  |
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PeterLong
Newbie
Offline
Activity: 15
Merit: 0
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July 07, 2014, 02:17:52 PM |
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When will the escrows post the details about the procedures and terms of the escrows?
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Litoshi
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July 07, 2014, 02:55:55 PM |
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I have been following this thread for long. By the first IPO, I was happy with the detailed explanation from Grexx and SyRenity about initial distribution. Why the 15% or the 10% was required etc made sense. The final outlay about dev fund reflecting the amount of btc raised seemed good too. But then there was this: https://bitcointalk.org/index.php?topic=654463.msg7602355#msg7602355This was just before the initial distribution. While it was later corrected by SyRenity to reflect the OP; now we have ended up with the same distribution (up to 25% premine for the guys). Now, IMO this amounts to double speak and constant moving goalpost by the team. So I am outta here. PS: for guys who actually want to invest, at BTC at 650, here's what the whole coin will be worth: 250 BTC = 812,500 300 BTC = 1.02 million 350 BTC = 1.26 million 400 BTC = 1.53 million 450 BTC = 1.83 million 500 BTC = 2.17 million Now the question is - is the current beta worth that much money? Think and invest. The unanswered question is how many coins are going to be sold in the IPO. The OP says 80% of the genesis block. It does not say how big this block will be. Total coins to be mined is listed at 100Million. If the genesis block is a huge 1 million coins, and they raise even 250 BTC for the IPO, that makes each CRYPTI coin worth......25,000 satoshis!!! Thats quite a high price for a new coin. SO, what is the size of the genesis block going to be?? |
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crypti (OP)
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July 07, 2014, 03:00:41 PM |
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Genesis block - 100 millions coins
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Litoshi
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July 07, 2014, 03:06:57 PM |
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Genesis block - 100 millions coins
100 million coins, 80 million coins then for the IPO investors. At 250 BTC invested...... 320,000 satoshi per CRYPTI coin.... At 500 BTC invested...... 640,000 Satoshi per CRYPTI coin |
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Litoshi
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July 07, 2014, 03:09:30 PM |
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FROM THE OP:
Because Crypti is a Proof-of-Stake crypto-currency we will rely on an pre-sale for initial distribution of the supply. The total amount of Crypti in existence will be 100 Million. One Crypti will have 8 digits after the decimal point.
Does this mean that the genesis block is ALL the CRYPTSI in existence? No mining?
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GreXX
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July 07, 2014, 03:11:51 PM |
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Jesus 10% per user is a joke. One of them can dump the price to exactly 0.
10% seems really high. See, if around 2 or 3% is considered usually maximum healthy premine on altcoins, why should buy-inn be any bigger? The 10% number came from our discussions with DGEX. 10% max investment is what they used for their previous managed pre-sale and what they suggested we implement. We decided that we would take their advice and go with the recommended number they chose from experience. |
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GreXX
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July 07, 2014, 03:15:00 PM |
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I have been following this thread for long. By the first IPO, I was happy with the detailed explanation from Grexx and SyRenity about initial distribution. Why the 15% or the 10% was required etc made sense. The final outlay about dev fund reflecting the amount of btc raised seemed good too. But then there was this: https://bitcointalk.org/index.php?topic=654463.msg7602355#msg7602355This was just before the initial distribution. While it was later corrected by SyRenity to reflect the OP; now we have ended up with the same distribution (up to 25% premine for the guys). Now, IMO this amounts to double speak and constant moving goalpost by the team. So I am outta here. PS: for guys who actually want to invest, at BTC at 650, here's what the whole coin will be worth: 250 BTC = 812,500 300 BTC = 1.02 million 350 BTC = 1.26 million 400 BTC = 1.53 million 450 BTC = 1.83 million 500 BTC = 2.17 million Now the question is - is the current beta worth that much money? Think and invest. The unanswered question is how many coins are going to be sold in the IPO. The OP says 80% of the genesis block. It does not say how big this block will be. Total coins to be mined is listed at 100Million. If the genesis block is a huge 1 million coins, and they raise even 250 BTC for the IPO, that makes each CRYPTI coin worth......25,000 satoshis!!! Thats quite a high price for a new coin. SO, what is the size of the genesis block going to be?? Litoshi, the genesis block is listed as 100,000,000 in the whitepaper, it must not have been transferred to the OP correctly when it was re-written for the new updates? It will all be created in the Genesis block and distributed according to escrow. There is no mining and all currency will be created in the genesis block. Hope that clears up that point. |
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Secondleo
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July 07, 2014, 03:17:29 PM |
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Jesus 10% per user is a joke. One of them can dump the price to exactly 0.
10% seems really high. See, if around 2 or 3% is considered usually maximum healthy premine on altcoins, why should buy-inn be any bigger? The 10% number came from our discussions with DGEX. 10% max investment is what they used for their previous managed pre-sale and what they suggested we implement. We decided that we would take their advice and go with the recommended number they chose from experience. DGEX did it once and it didn't explode. Also, as I assume DGEX will get compensation based on the amount of invested BTC over DGEX, there is a collision of interests. Should compensation be based on the amount of invested BTC, the 10% is more self interest than interest in the well being of the coin. |
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GreXX
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July 07, 2014, 03:20:28 PM |
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Hi all, NewsOP post updated, a lot of news there. Vesting, news of IPO and Dgex. For more info - read please. Ticker voteVote of our ticker: https://bitcointalk.org/index.php?topic=679779.0We need your help! Let's choose it together! Wallet/DevelopmentWe fixed bugs in wallet, it's already deployed, thanks community for responses and found issues. We continue work. On the end of this week we will launch PoS for invited people. If you want to be invited, please, send me your test ( TEST, not your real) secretphrase, we will install node for you. Limit for first time: 30 peoples, then we will invite more. So there is no cap on maximum investment, and no max per user? So we have the next Swarm and maidsafe. No ROI for early investors, only huge risks. But we can dump them for 50% after launch. OMG the next hated project. How can you do that? Jesus 10% per user is a joke. One of them can dump the price to exactly 0. DGEX mentioned that with their last launch, even with the 10% max per investor cap, the highest investor ended up only buying 6%. They will accept all funds for the entire launch and escrow them. If at the end of the pre-sale, one member has invested an amount that equals more than 10% of the total raised, the amount over 10% will be sent back to that owner. This was decided after much discussion with the DGEX team and I honestly don't personally think anyone will hit close to the 10% mark once all is said and done. |
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GreXX
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July 07, 2014, 03:22:42 PM
Last edit: July 07, 2014, 06:58:18 PM by GreXX |
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Jesus 10% per user is a joke. One of them can dump the price to exactly 0.
10% seems really high. See, if around 2 or 3% is considered usually maximum healthy premine on altcoins, why should buy-inn be any bigger? The 10% number came from our discussions with DGEX. 10% max investment is what they used for their previous managed pre-sale and what they suggested we implement. We decided that we would take their advice and go with the recommended number they chose from experience. DGEX did it once and it didn't explode. Also, as I assume DGEX will get compensation based on the amount of invested BTC over DGEX, there is a collision of interests. Should compensation be based on the amount of invested BTC, the 10% is more self interest than interest in the well being of the coin. You do have a point and one we had to consider. As per the OP I think the DGEX commission they have set is 3% of funds managed. So there most certainly is a self interest in raising a large amount of funds. That being said, as I just mentioned in another comment, I don't think anyone will hit the 10% mark and the previous high they saw was 6% from one investor. Edit to Add: As per a later comment by GCInc, the 10% actually came as an example of the amount FIMK used and wasn't a recommendation from DGEX. |
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Secondleo
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July 07, 2014, 03:28:46 PM |
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Jesus 10% per user is a joke. One of them can dump the price to exactly 0.
10% seems really high. See, if around 2 or 3% is considered usually maximum healthy premine on altcoins, why should buy-inn be any bigger? The 10% number came from our discussions with DGEX. 10% max investment is what they used for their previous managed pre-sale and what they suggested we implement. We decided that we would take their advice and go with the recommended number they chose from experience. DGEX did it once and it didn't explode. Also, as I assume DGEX will get compensation based on the amount of invested BTC over DGEX, there is a collision of interests. Should compensation be based on the amount of invested BTC, the 10% is more self interest than interest in the well being of the coin. You do have a point and one we had to consider. As per the OP I think the DGEX commission they have set is 3% of funds managed. So there most certainly is a self interest in raising a large amount of funds. That being said, as I just mentioned in another comment, I don't think anyone will hit the 10% mark and the previous high they saw was 6% from one investor. Of course it is unlikely that the 10% mark will be hit, as it is obvious DGEX wants as much BTC invested as possible. They will suggest a mark that is so high it is very unlikely it will be hit. That way, the maximum amount of invested BTC from every single person can be guaranteed. And 6% of all coins in the hands of a single investor is a ticking time bomb already. NXT had and has to face accusations of bad distribution and their top account only held 5% of everyting. |
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Litoshi
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July 07, 2014, 03:30:15 PM |
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I have been following this thread for long. By the first IPO, I was happy with the detailed explanation from Grexx and SyRenity about initial distribution. Why the 15% or the 10% was required etc made sense. The final outlay about dev fund reflecting the amount of btc raised seemed good too. But then there was this: https://bitcointalk.org/index.php?topic=654463.msg7602355#msg7602355This was just before the initial distribution. While it was later corrected by SyRenity to reflect the OP; now we have ended up with the same distribution (up to 25% premine for the guys). Now, IMO this amounts to double speak and constant moving goalpost by the team. So I am outta here. PS: for guys who actually want to invest, at BTC at 650, here's what the whole coin will be worth: 250 BTC = 812,500 300 BTC = 1.02 million 350 BTC = 1.26 million 400 BTC = 1.53 million 450 BTC = 1.83 million 500 BTC = 2.17 million Now the question is - is the current beta worth that much money? Think and invest. The unanswered question is how many coins are going to be sold in the IPO. The OP says 80% of the genesis block. It does not say how big this block will be. Total coins to be mined is listed at 100Million. If the genesis block is a huge 1 million coins, and they raise even 250 BTC for the IPO, that makes each CRYPTI coin worth......25,000 satoshis!!! Thats quite a high price for a new coin. SO, what is the size of the genesis block going to be?? Litoshi, the genesis block is listed as 100,000,000 in the whitepaper, it must not have been transferred to the OP correctly when it was re-written for the new updates? It will all be created in the Genesis block and distributed according to escrow. There is no mining and all currency will be created in the genesis block. Hope that clears up that point. AH Yes.... Now it all becomes clear. You guys are not setting up another CryptoCoin to be mined and created by miners POW, you are selling COINS that you created out of thin air. Since these coins are negotiable, and earn interest over time (POS payments) you are actually selling a financial security. If you are not registered with the US SEC to do this in the US, you are committing a felony in the US. There are also laws to require registration for selling securities in Russia and EU. Anybody that would buy these unregistered securities would be a fool. |
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crypti (OP)
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July 07, 2014, 03:33:18 PM |
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FROM THE OP:
Because Crypti is a Proof-of-Stake crypto-currency we will rely on an pre-sale for initial distribution of the supply. The total amount of Crypti in existence will be 100 Million. One Crypti will have 8 digits after the decimal point.
Does this mean that the genesis block is ALL the CRYPTSI in existence? No mining?
All the time you criticized us, but you do not even know Crypti is PoS. |
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crypti (OP)
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July 07, 2014, 03:34:49 PM |
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I have been following this thread for long. By the first IPO, I was happy with the detailed explanation from Grexx and SyRenity about initial distribution. Why the 15% or the 10% was required etc made sense. The final outlay about dev fund reflecting the amount of btc raised seemed good too. But then there was this: https://bitcointalk.org/index.php?topic=654463.msg7602355#msg7602355This was just before the initial distribution. While it was later corrected by SyRenity to reflect the OP; now we have ended up with the same distribution (up to 25% premine for the guys). Now, IMO this amounts to double speak and constant moving goalpost by the team. So I am outta here. PS: for guys who actually want to invest, at BTC at 650, here's what the whole coin will be worth: 250 BTC = 812,500 300 BTC = 1.02 million 350 BTC = 1.26 million 400 BTC = 1.53 million 450 BTC = 1.83 million 500 BTC = 2.17 million Now the question is - is the current beta worth that much money? Think and invest. The unanswered question is how many coins are going to be sold in the IPO. The OP says 80% of the genesis block. It does not say how big this block will be. Total coins to be mined is listed at 100Million. If the genesis block is a huge 1 million coins, and they raise even 250 BTC for the IPO, that makes each CRYPTI coin worth......25,000 satoshis!!! Thats quite a high price for a new coin. SO, what is the size of the genesis block going to be?? Litoshi, the genesis block is listed as 100,000,000 in the whitepaper, it must not have been transferred to the OP correctly when it was re-written for the new updates? It will all be created in the Genesis block and distributed according to escrow. There is no mining and all currency will be created in the genesis block. Hope that clears up that point. AH Yes.... Now it all becomes clear. You guys are not setting up another CryptoCoin to be mined and created by miners POW, you are selling COINS that you created out of thin air. Since these coins are negotiable, and earn interest over time (POS payments) you are actually selling a financial security. If you are not registered with the US SEC to do this in the US, you are committing a felony in the US. There are also laws to require registration for selling securities in Russia and EU. Anybody that would buy these unregistered securities would be a fool. Say it to Nxt, Qora and etc. You are funny. |
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Litoshi
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July 07, 2014, 03:40:33 PM |
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FROM THE OP:
Because Crypti is a Proof-of-Stake crypto-currency we will rely on an pre-sale for initial distribution of the supply. The total amount of Crypti in existence will be 100 Million. One Crypti will have 8 digits after the decimal point.
Does this mean that the genesis block is ALL the CRYPTSI in existence? No mining?
All the time you criticized us, but you do not even know Crypti is PoS. I did, but I assumed that there would be mining after the IPO since you mentioned that only the GENESIS block was for sale in the IPO, and that 100 Million coins were the total. Your OP was not clear that the GENESIS block is the ONLY block |
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Vega
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July 07, 2014, 03:42:09 PM |
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I did, but I assumed that there would be mining after the IPO since you mentioned that only the GENESIS block was for sale in the IPO, and that 100 Million coins were the total. Your OP was not clear that the GENESIS block is the ONLY block
100% POS. It's in the topic subject... (and a million other places) |
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