[ANN] Bitres - First Value-Secure Coin - PoS - IPO

[karlb187]

nice logo 

[pseudonymdude]

not bad, alcurex is a little small... would love to have them write something saying they hold the btc at the 90% level and will keep the buywall. so dev doesnt get any coins though? unless people sell into the wall? where do those coins end up destroyed?

The buy wall is held and neither we, nor alcurEX has the right to remove it; the funds are meant only for keeping as a safety reserve.
The only way to get rid of the wall is to sell all existing BITs into it, which would practically make BIT worthless.

BITs that are sold into the buy wall are kept untouched in an offline wallet just like the bitcoin reserve.

10% of BITs are left unsold and are kept by the development team and alcurEX to cover development costs of future BitRes services and bounties.

Hi,

I'm not really interested, but will alcurEX be issuing a statement stating that they will be holding 90% of the BTC as a buy wall?  How could neither you nor alcurEX have the right to remove it?  That makes no sense.  Do you mean that alcurEX agreed to put the buy wall wall and never remove it or do you mean that you will be using the funds in a personal account to set up the buy wall?

Also, for what reasons do you think the coin will ever be worth more than 90% of the IPO?

Thanks

[halibit]

not bad, alcurex is a little small... would love to have them write something saying they hold the btc at the 90% level and will keep the buywall. so dev doesnt get any coins though? unless people sell into the wall? where do those coins end up destroyed?

The buy wall is held and neither we, nor alcurEX has the right to remove it; the funds are meant only for keeping as a safety reserve.
The only way to get rid of the wall is to sell all existing BITs into it, which would practically make BIT worthless.

BITs that are sold into the buy wall are kept untouched in an offline wallet just like the bitcoin reserve.

10% of BITs are left unsold and are kept by the development team and alcurEX to cover development costs of future BitRes services and bounties.

Hi,

I'm not really interested, but will alcurEX be issuing a statement stating that they will be holding 90% of the BTC as a buy wall?  How could neither you nor alcurEX have the right to remove it?  That makes no sense.  Do you mean that alcurEX agreed to put the buy wall wall and never remove it or do you mean that you will be using the funds in a personal account to set up the buy wall?

Also, for what reasons do you think the coin will ever be worth more than 90% of the IPO?

Thanks

Do you mean that alcurEX agreed to put the buy wall wall and never remove it
Yes. alcurEX will holding those bitcoins and keep buy offers as long as there is BITs.

what reasons do you think the coin will ever be worth more than 90% of the IPO?
I think if coin have small marketcap at begin, almost bitcoin value and 100% buy wall, it may be good invest.
Personally I see BIT is holding same potential to rise than other altcoins, but have only risk to lose 10%, when many other coins have way bigger risk.
This is very first reserve bitcoins coin, so no one can't know what the price will be on next month.
I hope it will get active developing, marketing and exchanges.
Some investors may like this value-security option.

[Wolf Rainer]

1000 BTC ipo with newbie user. LOL 

[halibit]

1000 BTC ipo with newbie user. LOL 

Total coins: The amount of total coins will be determined by the amount BITs sold in the IPO

[Bansheroom]

While the idea behind bitreserve is not completly wrong the time you release it is wrong.

You did not deliver what you have promised for microcoin so far, microcoin got ONE market on alcurex so far, far away from a "main currency for alcurex" as you proomised.

You did not deliver what you have promised for alcurex so far, coding was very late and code was very buggy, the shareholders voted for a completly other set of coins, we voted for quality coins, you added mostly shitcoins. Also, not a single satoshi dividend has been payed to shareholders so far.

WHY SHOULD WE BELIEVE THAT YOU ARE ABLE OR WILLING TO DELIVER THIS TIME?

I honestly dont think a (scam-looking) IPO will get alcurex some decent volume. STOP IT.

Go to bittrex, cryptsy, mintpal, poloniex, sort coins by volume, add some of the coins that have high volume there and start some sort of MARKETING (you have promised that also and failed to deliver).

[Pipi]

Ok,i will watch your coin and i sincere hope that isn't a scamme

[Bansheroom]

Ok,i will watch your coin and i sincere hope that isn't a scamme

They did also microcoin, you should have a look how they care about it, the wallet i.e. takes forever to start, but they are not even trying to fix it.
They are not even able to keep the microcoin OP up to date (still lists markets and exchanges that have kicked microcoin months ago, lists not existing pools and many more).

[G K G]

DEATH for sure

[ScrewDriver]

DEATH for sure

+1

[Continental]

When is the launch?

[Bitres]

When is the launch?

IPO is already open at https://ip.bitcointalk.org/?u=http%3A%2F%2Fi.imgur.com%2FPeGCkdp.png&t=543&c=AU8rtNO0bgXP5g
It will end at 2014-09-15 GMT+0
Wallets will be available right after the IPO ends.
You can downloada a demo wallet here.

Demo wallet QT
Demo wallet installer

[halibit]

Death coin have no buy orders.
This coin will have buy orders open for each BITs on world.
No matter how many BITs will be bought and minted.

I personally hope there will come some who make coin with similar method, but ponded with USD, stocks, gold etc. but I have no time for that.

[prospecta]

Cryptocurrencies with no value-security can easily go down even 1000% in price. There are many examples of this happening.

A price can't decline by more than 100%, a 100% drop equals 0.

If a security dropped 1000% you'd have lost the lot, 10x over.

Fucks sake this is amateur hour this "dev" writes this crap in the main post...wow...

[halibit]

Cryptocurrencies with no value-security can easily go down even 1000% in price. There are many examples of this happening.

A price can't decline by more than 100%, a 100% drop equals 0.

If a security dropped 1000% you'd have lost the lot, 10x over.

Fucks sake this is amateur hour this "dev" writes this crap in the main post...wow...

On math way you are right, but on finance way, you are wrong.
If some coin price is 1 when it launch.
Then it rise to 2, (It rise +100%). (You will get 100% profits if sell now)
If price go to 3, (it rise +200%) (You will get 200% profits if sell now)
If price go to 10, (it rise +1000%) (You will get 1000% profits if sell now)

Now, If price drop back to 1,
we can say it drop -1000% Because if you sell it, you will get 10X time less money than when value was 10 (-1000%)
The reason why market data is calculated that way on every exchange is because investors want to know how much they invested capital multiply or divide.
 

[Bitres]

Cryptocurrencies with no value-security can easily go down even 1000% in price. There are many examples of this happening.

A price can't decline by more than 100%, a 100% drop equals 0.

If a security dropped 1000% you'd have lost the lot, 10x over.

Fucks sake this is amateur hour this "dev" writes this crap in the main post...wow...

You're right, but it is very common on the altcoin market to think in terms of what the percentage would have been if the currency had gone the same amount up in price.

A 10x rise in price= +1000%

A 10x fall inprice= -1000%

I know that mathematically it's wrong, but it's a very common way to indicate price differences because it makes it completely clear for both people who think the correct way and for the people who think of percentage change the backwards way.

[Bitres]

While the idea behind bitreserve is not completly wrong the time you release it is wrong.

You did not deliver what you have promised for microcoin so far, microcoin got ONE market on alcurex so far, far away from a "main currency for alcurex" as you proomised.

You did not deliver what you have promised for alcurex so far, coding was very late and code was very buggy, the shareholders voted for a completly other set of coins, we voted for quality coins, you added mostly shitcoins. Also, not a single satoshi dividend has been payed to shareholders so far.

WHY SHOULD WE BELIEVE THAT YOU ARE ABLE OR WILLING TO DELIVER THIS TIME?

I honestly dont think a (scam-looking) IPO will get alcurex some decent volume. STOP IT.

Go to bittrex, cryptsy, mintpal, poloniex, sort coins by volume, add some of the coins that have high volume there and start some sort of MARKETING (you have promised that also and failed to deliver).

I understand your concern.
And it's not as simple as just going to bittrex and adding high volume coins. Those are the coins that would have zero volume on alcurEX, because no one has any reason to go to alcurEX to trade their coins when all the volume for the same coins is on bittrex, mintpal, etc. The list got from the votings is old and mostly all the coins on it are irrelevant now.

[sdersdf2]

How is the buy order guaranteed not to be reversed later?

[MadGhost]

1000 BTC ipo with newbie user. LOL 

that is epic, never seen 1000BTC  IPO from newbie account.

[prospecta]

Crypto loves to redefine finance terms and murder them...but fuck...justifying someone claiming a loss of more than 100%...wow..I am baffled by that.

If you have 1 BTC, make 10x to 10 BTC, then lose 9 BTC...you lost 90%...wow...