ANN[gryF]$GRYF/GryfX Virtual Currency Options Market, NEW INFO MUST READ

[baronvonclausewitz]

what a nice plan you do dev 

Why thank you. So, for everyone who was complaining about the structure and tl:dr, how is it now? Please let me know if there is anything more I can do, if I haven't done enough, etc. I want your feedback. I want it.

You didn't respond to my question.

You are selling the IPO shares at around 2.4 Satoshis per coin?  Correct me if I'm wrong, but with 100 trillion coins, that prices the entire market cap at about $1.5 billion?

I apologize, I want to respond to you folks individually and they were first in line.

We will not reach 100 trillion coins for years, decades even. We want to price it for the user for initial growth so it can build in value over time. We want room for lots of sustainable, long term growth and hopefully it will reach $1.5 billion some day. The effective market cap coming out of the IPO will probably be around $12,000 according to our estimates, so hitting $1.5 billion will take quite a while. The physical backing of the coin, the GryfenVault, will eventually raise the market cap as the coin matures.

[trogdorjw73]

What does X22 + Scrypt mean (and why not "X23" if you're adding Scrypt to X22)?

Assuming you grab all the unique algos from X14 and X15, add in Scrypt, and you're at maybe X18 at best. A nice list of the 22 hashing algorithms being used would be good.

BTW, I want to just state that the "more is better" mentality of X11->X13->X15/X14 is not necessarily a good thing in my opinion. Each additional algorithm simply adds overhead and that can be a problem on servers (e.g. pools and exchanges).

[djm34]

What does X22 + Scrypt mean (and why not "X23" if you're adding Scrypt to X22)?

Assuming you grab all the unique algos from X14 and X15, add in Scrypt, and you're at maybe X18 at best. A nice list of the 22 hashing algorithms being used would be good.

BTW, I want to just state that the "more is better" mentality of X11->X13->X15/X14 is not necessarily a good thing in my opinion. Each additional algorithm simply adds overhead and that can be a problem on servers (e.g. pools and exchanges).

x11 is already pretty pointless at that level... in terms of security keccak all alone is more than enough... 
At some point coin devs will remember that a coin relies on decentralize network where transaction can be processed by devices... so to make them difficult to process, is a total non sense (from the start...)... I won't complain though  

Regarding the OP, it is still terrible. Limit yourself to the executive summary and put the extra stuff in the white paper...

[ZigbsZigbs]

Algorithm updated and OP updated.  Please let me know what is still objectively terrible and I will have it corrected

We have the rest of the stuff in the white paper or the pitch deck and we dropped the initial pricing such that it would be .24 Satoshi/GryfenCoin vs. the former 2.4/gfc.

Once again PLEASE let me know anything you want to tell me I'm here to listen to you.

[mozurt]

why not 1000 trillion 

[ZigbsZigbs]

Because that would be just too crazy.  I'm open to a little crazy, but THAT is just a little too crazy 

Maybe we should just do like 1 coin Proof of Work.  now THAT is crazy. 

Mainly the huge # of coins is to extend the early adoption window.  We've created a "more evolved" financial system that is created and controlled by even fewer players than the one currently.  If that isn't irony then I don't know what is.  The whole problem with the current financial system is the lack of involvement of the people or populous.  We are trying to solve that actual problem. 

[ZigbsZigbs]

The #1 error I see in the argument for coins in circulation is the argument is based on what has worked in the past in a past market as per what will/could happen in a larger, more different future market.

[ZigbsZigbs]

UPDATE:  We've sold 940 Shares so far, there are 9,060 shares left - sale ends by August 20th, or whenever supply runs out.

[ZigbsZigbs]

We've sold more shares - the demand seems to be higher than I was expecting. 


I'm openly but skeptically looking at the idea of increasing the frontwards yield on interest that produces the coins/shares from the mean to the max(1%) - doubling initial coins in the system on launch and increasing total # of shares sold to 20,000 - anyone who bought shares before that will have their share yield increased from 82,500 coins to nearly double that.


We will be bringing more news about our gamified cryptocurrency options market in the coming days.  We currently have 16 coins we're actively working with that are going to be on the gamified cryptocurrency options market/game as well as a few very niche cryptocurrencies that would be backed by GryfenCoins and the GryfenReserve(we would buy the coins directly from you in exchange for GryfenCoin)

.

[devvienuis]

I made following article for people interested: #IPO & ANN Analysis @GryfenCoin #crypto like #bitcoin with #Options Game #RT!!!!

Most important? I have seen 3 different ID cards from the developer... So hope that helps.

I have also been told that the website will get some minor changes, adopting to market wishes... IPO stil open ;-)

Greetz

twitter.com/devnullius

[primer-]

I want to buy 10BTC worth of IPO!!

[ZigbsZigbs]

Hahah 10 BTC would be amazing but sadly there's an IPO cap of 4 BTC.  I could see a more reasonable sale of 2-3 BTC max....I don't want just one person having all of the control of GryfenCoins...that's a little besides the point.

If you're serious about investing a large amount you can contact us via GryfenCoin@Gmail.com


UPDATE: Wallet Images

[discodancer]

I have to repeat what I said on the other thread:

I just went through the site. Too confusing as to what they want to do. Does anyone in the team knows what bullet points are? Or rather to eumphemise Michael Bay:
http://www.youtube.com/watch?v=Xoe1p_NrFwg&t=13m59s

Beginning, middle, end, condense, plot and tell it.

And whats up with the IPO, why do you need an IPO?

[ZigbsZigbs]

New, better, more professional design will be up in about 1 hour.  I think you'll be pleased by the changes made.

We're doing an IPO to offer coins to early adopters and to give us a little bit of funds to outsource some PHP work in our app.  That's all - we're not even asking for a lot; just the bare minimum needed to get by: Ethereum sized and styled IPO's or Preorders are not my thing.


We have 29 Coins pledged forth so far for our GryfX Options Market, and the number gets bigger every day.

[ZigbsZigbs]

UPDATE:  NEW SITE ONLINE

http://GryfenCo.in/ 

[discodancer]

Guys, one suggestion. Please hire a copy writer. Presentation is not good. Example from the OP:
We are specifically targeting the Early Majority(see Crossing the Chasm, Geoffrey A. More) of crypto users, meaning a lot of non-Bitcointalk type people.

Practice will be to use annotations and reference them at the bottom. Something you see on wikipedia.


Same with the site too. I am not even sure what this means:

Fluctuating Block Reward between 50(reducing to zero) & 50,000(+ Block # - 1)

My guess is block reward is 50 to 0 and 50,000 at genesis but I am not sure. Given this, how are you going to rope in non-bitcointalk people.

[klopper]

So these twitter accounts all belong to one person.
They all followed the same people at the same time.

@CzarOfGryfen
@AgentSmithGryf
@GryfenAddict
@GryfenKnights
@HouseofGryfen
@ChiefGryfen
@JurassicGryfen
@NghtmreB4Gryfen
@GryfBlackKnight
@GryfWhteKnight
@FearNLoathnGryf
@GoodBadGryfen
@SuperGryfenBros
@NoCountry4Gryf
@FullMetalGryfen
@RdrsOfLostGryf
@_gryfx
@gryfSX

look: https://twitter.com/TheRainbowCoin/followers
https://twitter.com/TittieCoin/followers

[baronvonclausewitz]

So these twitter accounts all belong to one person.
They all followed the same people at the same time.

@CzarOfGryfen
@AgentSmithGryf
@GryfenAddict
@GryfenKnights
@HouseofGryfen
@ChiefGryfen
@JurassicGryfen
@NghtmreB4Gryfen
@GryfBlackKnight
@GryfWhteKnight
@FearNLoathnGryf
@GoodBadGryfen
@SuperGryfenBros
@NoCountry4Gryf
@FullMetalGryfen
@RdrsOfLostGryf
@_gryfx
@gryfSX

look: https://twitter.com/TheRainbowCoin/followers
https://twitter.com/TittieCoin/followers

It's all part of a creative marketing campaign we are doing for our coin, thanks for noticing! We are hoping to have a lot of fun with it.

[baronvonclausewitz]

Guys, one suggestion. Please hire a copy writer. Presentation is not good. Example from the OP:
We are specifically targeting the Early Majority(see Crossing the Chasm, Geoffrey A. More) of crypto users, meaning a lot of non-Bitcointalk type people.

Practice will be to use annotations and reference them at the bottom. Something you see on wikipedia.


Same with the site too. I am not even sure what this means:

Fluctuating Block Reward between 50(reducing to zero) & 50,000(+ Block # - 1)

My guess is block reward is 50 to 0 and 50,000 at genesis but I am not sure. Given this, how are you going to rope in non-bitcointalk people.

The block reward fluctuates between 50 and 50,000, 50 being the bottom end of the range and 50,000 being the top. Every day the minimum end of the range decreases by 1 (50, 49, 48...) and after fifty days, the minimum end is 0. Similarly, the maximum end will increase by one every block.  With a block time of 60 seconds that means that the upwards limit will increase at a steady, linear rate of 1440 coins per day.

At the end of the first day of mining the coin range will change from [50 - 50,000] to [49 - 51,440]
The first number decreased by 1 as 1 day has passed and the second number increased with the # of blocks from that day; 1,440.

We'll have to make that more clear and change that.

[klopper]

So these twitter accounts all belong to one person.
They all followed the same people at the same time.

@CzarOfGryfen
@AgentSmithGryf
@GryfenAddict
@GryfenKnights
@HouseofGryfen
@ChiefGryfen
@JurassicGryfen
@NghtmreB4Gryfen
@GryfBlackKnight
@GryfWhteKnight
@FearNLoathnGryf
@GoodBadGryfen
@SuperGryfenBros
@NoCountry4Gryf
@FullMetalGryfen
@RdrsOfLostGryf
@_gryfx
@gryfSX

look: https://twitter.com/TheRainbowCoin/followers
https://twitter.com/TittieCoin/followers

It's all part of a creative marketing campaign we are doing for our coin, thanks for noticing! We are hoping to have a lot of fun with it.

Well it's working! Got me to this thread!