[ANN] XCloudcoin File hosting [Moved To New Thread]

[poornamelessme]

Think about it.  If  the dev buys 1 BTC worth of coins, the coins go into his wallet and at the end of the ICO he gets that 1 BTC back.  So he gets the coins AND the 1 BTC in the end.  By selling the coins a little lower than the IPO, he gets the original 1 BTC back and whatever he sells the coins for as well and in this case it's very close to the ICO price, so in the end he gets his 1 BTC back AND the ~.98 BTC by selling the coins into his wallet, so free BTC.  This is why I hate ICO's on exchanges, the dev or dev team essentially could get their own coins for free if they felt so inclined.

True... just that if it is done too often, it kills the dev's own ICO, assuming people look at the order book at all. And that 4BTC order is bizarre, since it stands out so much. If a dev was going to go that route, it'd make more sense to do it slowly and smallscale, not large orders like that. That's what I meant, a large order like that is probably more a detriment than a benefit, at least looking at it from a bigger perspective.

[swainzag]

Think about it.  If  the dev buys 1 BTC worth of coins, the coins go into his wallet and at the end of the ICO he gets that 1 BTC back.  So he gets the coins AND the 1 BTC in the end.  By selling the coins a little lower than the IPO, he gets the original 1 BTC back and whatever he sells the coins for as well and in this case it's very close to the ICO price, so in the end he gets his 1 BTC back AND the ~.98 BTC by selling the coins into his wallet, so free BTC.  This is why I hate ICO's on exchanges, the dev or dev team essentially could get their own coins for free if they felt so inclined.

True... just that if it is done too often, it kills the dev's own ICO, assuming people look at the order book at all. And that 4BTC order is bizarre, since it stands out so much. If a dev was going to go that route, it'd make more sense to do it slowly and smallscale, not large orders like that. That's what I meant, a large order like that is probably more a detriment than a benefit, at least looking at it from a bigger perspective.

I completely agree. I find it very odd that the only orders really about .1 are lumped together being sold at that same price.  Like I said before I hate making assumptions, but tread lightly.

[flowers]

Some general questions for the dev ...

Played around with the site a little bit, and it looks decent enough. But I have some questions (and apologies if they are dumb questions).

Is this similar to storj, where the blockchain is used for cloud storage? It looks more like a traditional cloud storage site, centralized, which you plan to fund via crypto. And if that is the case, what purpose does the coin serve exactly?

just a bitcoin clone wallet, a storage website , a online wallet .  then the dev want 500btc.

[richiela]

Hi everyone,

Just as a reminder, we are providing an escrow for this coin development team.  While we are listing the ICO, we are not endorsing this coin or any others on our exchange.  Please use your own judgement before trading. 

The escrow terms are as follows:
At the end of the ICO, all of the unsold CLD coins get destroyed.
We will verify that coins transfer properly on the block chain using the public wallet source 
A public block explorer is available to verify that all coins are accounted for as stated in the ANN

If that all works, we provide the developers access to the ICO account and the BTC after a 3 day escrow period.  If any of the conditions fail, we use the ICO funds to buy back and destroy all of the coins.

Richie

[poornamelessme]

Hi everyone,

Just as a reminder, we are providing an escrow for this coin development team.  While we are listing the ICO, we are not endorsing this coin or any others on our exchange.  Please use your own judgement before trading.  

The escrow terms are as follows:
At the end of the ICO, all of the unsold CLD coins get destroyed.
We will verify that coins transfer properly on the block chain using the public wallet source  
A public block explorer is available to verify that all coins are accounted for as stated in the ANN

If that all works, we provide the developers access to the ICO account and the BTC after a 3 day escrow period.  If any of the conditions fail, we use the ICO funds to buy back and destroy all of the coins.

Richie

There has been some mention of Bittrex using updated requirements in this thread. Is there any truth to that, and if so, what are those requirements? By a lack of mention just now by you, I will assume the ICO requirements are the same as always.

I will also take this opportunity to ask why isn't Bittrex using rules similar to Poloniex, which includes requiring the devs to prove their identity, and no giant lumpsum payouts with strict bookkeeping? The last several ICOs on Bittrex haven't even gotten off the ground for a reason.

[dandruff1138]

Hi everyone,

Just as a reminder, we are providing an escrow for this coin development team.  While we are listing the ICO, we are not endorsing this coin or any others on our exchange.  Please use your own judgement before trading.  

The escrow terms are as follows:
At the end of the ICO, all of the unsold CLD coins get destroyed.
We will verify that coins transfer properly on the block chain using the public wallet source  
A public block explorer is available to verify that all coins are accounted for as stated in the ANN

If that all works, we provide the developers access to the ICO account and the BTC after a 3 day escrow period.  If any of the conditions fail, we use the ICO funds to buy back and destroy all of the coins.

Richie

There has been some mention of Bittrex using updated requirements in this thread. Is there any truth to that, and if so, what are those requirements? By a lack of mention just now by you, I will assume the ICO requirements are the same as always.

I will also take this opportunity to ask why isn't Bittrex using rules similar to Poloniex, which includes requiring the devs to prove their identity, and no giant lumpsum payouts with strict bookkeeping? The last several ICOs on Bittrex haven't even gotten off the ground for a reason.

I am certain this is why you do not see this coin on POLONIEX. Good on poloniex.

[swainzag]

Huh....funny after how we start talking about the big buy orders below the ICO price they suddenly disappear.  Shady.

At the price per coin, this is going to be lucky to sell 10 BTC worth.  Even if this is turns out to be a good product asking for 300K up front is ridiculous. 

[poornamelessme]

I'm still waiting for the devs to answer my questions earlier about how is the coin used exactly in relation to their cloud services. As of right now, it looks mostly just as a way to provide funding... not sure what the coin is used for.

[richiela]

Hi everyone,

Just as a reminder, we are providing an escrow for this coin development team.  While we are listing the ICO, we are not endorsing this coin or any others on our exchange.  Please use your own judgement before trading.  

The escrow terms are as follows:
At the end of the ICO, all of the unsold CLD coins get destroyed.
We will verify that coins transfer properly on the block chain using the public wallet source  
A public block explorer is available to verify that all coins are accounted for as stated in the ANN

If that all works, we provide the developers access to the ICO account and the BTC after a 3 day escrow period.  If any of the conditions fail, we use the ICO funds to buy back and destroy all of the coins.

Richie

There has been some mention of Bittrex using updated requirements in this thread. Is there any truth to that, and if so, what are those requirements? By a lack of mention just now by you, I will assume the ICO requirements are the same as always.

I will also take this opportunity to ask why isn't Bittrex using rules similar to Poloniex, which includes requiring the devs to prove their identity, and no giant lumpsum payouts with strict bookkeeping? The last several ICOs on Bittrex haven't even gotten off the ground for a reason.

The requirements are around delivery mainly.  Here is what is sent to any potential ICO participants:

1) We will code review before initially adding the wallet.
2) Then you will transfer the premine IPO coins to us. if there are premined coins that are not part of the ICO, this must be disclosed in your ANN
3) We run the ICO at whatever price you are looking for but we'd recommend a reasonable market cap.
4) After the ICO period ends, if there are remaining coins, we will destroy them and provide you an address to post
5) We will hold your BTC in escrow for 3 days.
a) Transfer coins to verify that the block chain functions properly.
b) You must have a block explorer available.
6) If that all works, we will give you access to the ICO account and the BTC. If any of the conditions fail, we will use the ICO funds to buy back and destroy all of the coins and you will forfeit the escrow fee.

Thanks,
Richie

[poornamelessme]

The requirements are around delivery mainly.  Here is what is sent to any potential ICO participants:

1) We will code review before initially adding the wallet.
2) Then you will transfer the premine IPO coins to us. if there are premined coins that are not part of the ICO, this must be disclosed in your ANN
3) We run the ICO at whatever price you are looking for but we'd recommend a reasonable market cap.
4) After the ICO period ends, if there are remaining coins, we will destroy them and provide you an address to post
5) We will hold your BTC in escrow for 3 days.
a) Transfer coins to verify that the block chain functions properly.
b) You must have a block explorer available.
6) If that all works, we will give you access to the ICO account and the BTC. If any of the conditions fail, we will use the ICO funds to buy back and destroy all of the coins and you will forfeit the escrow fee.

Thanks,
Richie

Have you considered somewhat more stricter requirements?

Such as requiring a form of identification?
Or holding funds until they are used for what the dev claims they will be used for?
With strict bookkeeping. No giant lumpsum payouts.

You must realize that your more recent ICOs have gone rather horribly, and that people aren't as interested in them as they used to be. Better rules, and holding ICOs less frequently, should help. You may also want to be pickier as to the coins you accept for ICOs too, just choosing the cream of the crop.

[dandruff1138]

The requirements are around delivery mainly.  Here is what is sent to any potential ICO participants:

1) We will code review before initially adding the wallet.
2) Then you will transfer the premine IPO coins to us. if there are premined coins that are not part of the ICO, this must be disclosed in your ANN
3) We run the ICO at whatever price you are looking for but we'd recommend a reasonable market cap.
4) After the ICO period ends, if there are remaining coins, we will destroy them and provide you an address to post
5) We will hold your BTC in escrow for 3 days.
a) Transfer coins to verify that the block chain functions properly.
b) You must have a block explorer available.
6) If that all works, we will give you access to the ICO account and the BTC. If any of the conditions fail, we will use the ICO funds to buy back and destroy all of the coins and you will forfeit the escrow fee.

Thanks,
Richie

Have you considered somewhat more stricter requirements?

Such as requiring a form of identification?
Or holding funds until they are used for what the dev claims they will be used for?
With strict bookkeeping. No giant lumpsum payouts.

You must realize that your more recent ICOs have gone rather horribly, and that people aren't as interested in them as they used to be. Better rules, and holding ICOs less frequently, should help. You may also want to be pickier as to the coins you accept for ICOs too, just choosing the cream of the crop.

The developer claimed one of the requirements was to verify his/her identity. You did not list this. Was this a lie?

[Litoshi]

When you guys get rich from this coin, I have something else for you.  There is this bank officer in Nigeria that has unclaimed funds and needs help to get it out of the country. 

[Bergmannx]

The requirements are around delivery mainly.  Here is what is sent to any potential ICO participants:

1) We will code review before initially adding the wallet.
2) Then you will transfer the premine IPO coins to us. if there are premined coins that are not part of the ICO, this must be disclosed in your ANN
3) We run the ICO at whatever price you are looking for but we'd recommend a reasonable market cap.
4) After the ICO period ends, if there are remaining coins, we will destroy them and provide you an address to post
5) We will hold your BTC in escrow for 3 days.
a) Transfer coins to verify that the block chain functions properly.
b) You must have a block explorer available.
6) If that all works, we will give you access to the ICO account and the BTC. If any of the conditions fail, we will use the ICO funds to buy back and destroy all of the coins and you will forfeit the escrow fee.

Thanks,
Richie

Have you considered somewhat more stricter requirements?

Such as requiring a form of identification?
Or holding funds until they are used for what the dev claims they will be used for?
With strict bookkeeping. No giant lumpsum payouts.

You must realize that your more recent ICOs have gone rather horribly, and that people aren't as interested in them as they used to be. Better rules, and holding ICOs less frequently, should help. You may also want to be pickier as to the coins you accept for ICOs too, just choosing the cream of the crop.

The developer claimed one of the requirements was to verify his/her identity. You did not list this. Was this a lie?

This. Dev stated Bittrex got his identity.

With these requirements Icebergcoin "dev" was able to rob people by 100 BTC. So Bittrex seems to continiue the way they did and help pulling out thousands of BTC every month from altcoin markets. When Your volume is less than 100 BTC You might realize You doing it wrong.

Btw, dev here registered XCloudCoin.org anonymously. No real surprise, I know.

[poornamelessme]

The developer claimed one of the requirements was to verify his/her identity. You did not list this. Was this a lie?

This. Dev stated Bittrex got his identity.

With these requirements Icebergcoin "dev" was able to rob people by 100 BTC. So Bittrex seems to continiue the way they did and help pulling out thousands of BTC every month from altcoin markets. When Your volume is less than 100 BTC You might realize You doing it wrong.

Btw, dev here registered XCloudCoin.org anonymously. No real surprise, I know.

Besides Iceberg, don't forget DCM. Over 120 BTC stolen by the devs, and I believe the coin is even delisted now. And I can't speak for other coins, as I didn't keep track, but when I say stolen, I mean literally stolen -- they packed up their bags, locked and closed the coin threads, and simply vanished.

[dandruff1138]

The developer claimed one of the requirements was to verify his/her identity. You did not list this. Was this a lie?

This. Dev stated Bittrex got his identity.

With these requirements Icebergcoin "dev" was able to rob people by 100 BTC. So Bittrex seems to continiue the way they did and help pulling out thousands of BTC every month from altcoin markets. When Your volume is less than 100 BTC You might realize You doing it wrong.

Btw, dev here registered XCloudCoin.org anonymously. No real surprise, I know.

Besides Iceberg, don't forget DCM. Over 120 BTC stolen by the devs, and I believe the coin is even delisted now. And I can't speak for other coins, as I didn't keep track, but when I say stolen, I mean literally stolen -- they packed up their bags, locked and closed the coin threads, and simply vanished.

Well We just caught the developer in a huge lie. S C A M

[rugrats]

Hi everyone,

Just as a reminder, we are providing an escrow for this coin development team.  While we are listing the ICO, we are not endorsing this coin or any others on our exchange.  Please use your own judgement before trading.  

The escrow terms are as follows:
At the end of the ICO, all of the unsold CLD coins get destroyed.
We will verify that coins transfer properly on the block chain using the public wallet source  
A public block explorer is available to verify that all coins are accounted for as stated in the ANN

If that all works, we provide the developers access to the ICO account and the BTC after a 3 day escrow period.  If any of the conditions fail, we use the ICO funds to buy back and destroy all of the coins.

Richie

There has been some mention of Bittrex using updated requirements in this thread. Is there any truth to that, and if so, what are those requirements? By a lack of mention just now by you, I will assume the ICO requirements are the same as always.

I will also take this opportunity to ask why isn't Bittrex using rules similar to Poloniex, which includes requiring the devs to prove their identity, and no giant lumpsum payouts with strict bookkeeping? The last several ICOs on Bittrex haven't even gotten off the ground for a reason.

The requirements are around delivery mainly.  Here is what is sent to any potential ICO participants:

1) We will code review before initially adding the wallet.
2) Then you will transfer the premine IPO coins to us. if there are premined coins that are not part of the ICO, this must be disclosed in your ANN
3) We run the ICO at whatever price you are looking for but we'd recommend a reasonable market cap.
4) After the ICO period ends, if there are remaining coins, we will destroy them and provide you an address to post
5) We will hold your BTC in escrow for 3 days.
a) Transfer coins to verify that the block chain functions properly.
b) You must have a block explorer available.
6) If that all works, we will give you access to the ICO account and the BTC. If any of the conditions fail, we will use the ICO funds to buy back and destroy all of the coins and you will forfeit the escrow fee.

Thanks,
Richie

The dev seems to be familiar with Bittrex's ICO process.
Has Bittrex hosted any previous ICO for the same dev?
Also, does your review process includes ID verification?

Keep in mind, Richie, the dev avoided any specifics when responding to my earlier questions, and simply referred to a future white paper.

[poornamelessme]

Well We just caught the developer in a huge lie. S C A M

In case you weren't aware, the dev's identity I believe is listed on the 1st page of this announcement, under his linkedin profile. He stated this earlier in the thread too. Although this doesn't mean the dev proved his identity with any documents to Bittrex -- I don't believe he stated that they asked for it, just that they knew who he was.

[rigdeer]

The dev seems to be familiar with Bittrex's ICO process

[xcloudcoin]

https://i.imgur.com/4Llwxbl.png

outbox of the ico request

We are now verified by coinssource.com

https://i.imgur.com/WnSf4It.png

[xcloudcoin]

https://twitter.com/CoinsSource/status/494315186753261569