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Author Topic: [ANN][SEED] SeedCoin | New Road Map  (Read 183142 times)
Rage19420
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September 29, 2014, 03:51:11 AM
 #121

I have done some calculations and feel it is in our best interest to freeze the ICO price where it is for a little while. So for now, the price hikes are paused, and the ICO will remain at 0.345BTC

I get what you're saying, but why change your mind now?  You clearly did those calculations before launching.  You knew exactly where the price would be at this point in time.  Part of the idea was to reward early adopters, but now you're changing the announcement on the fly because you haven't raised enough BTC so far during the ICO?

I agree completely. That is a terrible move to do for the early investors. It also sucks for the person who just bought in prior to you freezing the price. If it were me I would be pissed.
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September 29, 2014, 03:55:45 AM
 #122

I have done some calculations and feel it is in our best interest to freeze the ICO price where it is for a little while. So for now, the price hikes are paused, and the ICO will remain at 0.345BTC

I get what you're saying, but why change your mind now?  You clearly did those calculations before launching.  You knew exactly where the price would be at this point in time.  Part of the idea was to reward early adopters, but now you're changing the announcement on the fly because you haven't raised enough BTC so far during the ICO?

It's still rewarding the early adopters, I just wanted to make the cost of mining more inline w/ the cost of ICO as to not have such a tremendous disparity and to allow for a much fairer distribution of the coin.

But you are right, and it changed nothing anyways. I will unfreeze the ICO.

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September 29, 2014, 03:58:30 AM
 #123

I have done some calculations and feel it is in our best interest to freeze the ICO price where it is for a little while. So for now, the price hikes are paused, and the ICO will remain at 0.345BTC

I get what you're saying, but why change your mind now?  You clearly did those calculations before launching.  You knew exactly where the price would be at this point in time.  Part of the idea was to reward early adopters, but now you're changing the announcement on the fly because you haven't raised enough BTC so far during the ICO?

I agree completely. That is a terrible move to do for the early investors. It also sucks for the person who just bought in prior to you freezing the price. If it were me I would be pissed.

Yes, you are both correct. I should not have bent the rules to try and even the playing field.

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September 29, 2014, 06:55:49 AM
 #124

Is there a point where you will decide that you have not sold enough during the ICO? I see it's just over 60 so far, not near enough for your 500BTC target. I guess you need to sell a few thousand to get to that point.
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September 29, 2014, 08:09:16 AM
 #125

Is there a point where you will decide that you have not sold enough during the ICO? I see it's just over 60 so far, not near enough for your 500BTC target. I guess you need to sell a few thousand to get to that point.

The coin will be produced and maintained regardless of the amount of BTC raised. Below 500BTC raised, all funds raised will be used for ongoing development. 500 or above and 50% of it will be used as a buywall that backs the value of every coin produced during the Growth period.
 

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September 29, 2014, 03:42:03 PM
 #126

Is there a point where you will decide that you have not sold enough during the ICO? I see it's just over 60 so far, not near enough for your 500BTC target. I guess you need to sell a few thousand to get to that point.

The coin will be produced and maintained regardless of the amount of BTC raised. Below 500BTC raised, all funds raised will be used for ongoing development. 500 or above and 50% of it will be used as a buywall that backs the value of every coin produced during the Growth period.
 

For investors like myself, we should be doing everything we can to get our friends and other people to invest during the ICO phase. I know I would love to have a 250 BTC buy wall at 0.00012500 just for making it to 500BTC in the ICO. Am I correct in assuming, looking at the website that is the ICO were to make it to 1,000 BTC, there would be a buy wall of 500BTC at 0.00025000?

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September 29, 2014, 06:00:07 PM
 #127

500 BTC ICO is way too optimistic in this market.  It's borderline delusional.  No offense to the Seed coin team at all.  I like the concept behind Seed and I love to see something new being offered.  But look at ARCH... with it's amazing branding, design, whitepapers, partnerships, etc... it has only raised just over 300 BTC so far after nearly a full month of consistent hype. 

Maybe if the majority of ICOs / IPOs had not been complete disasters or scams within the last few months, 500 BTC would have been reasonable.  Volume in crypto is just too low right now, and overall confidence in crypto is even lower. With that said, I sincerely hope Seed helps turn things around.
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September 29, 2014, 06:48:06 PM
 #128

500 BTC ICO is way too optimistic in this market.  It's borderline delusional.  No offense to the Seed coin team at all.  I like the concept behind Seed and I love to see something new being offered.  But look at ARCH... with it's amazing branding, design, whitepapers, partnerships, etc... it has only raised just over 300 BTC so far after nearly a full month of consistent hype. 

Maybe if the majority of ICOs / IPOs had not been complete disasters or scams within the last few months, 500 BTC would have been reasonable.  Volume in crypto is just too low right now, and overall confidence in crypto is even lower. With that said, I sincerely hope Seed helps turn things around.

As sad as this is, it's true. Math never lies, and the numbers you came up with can lead to a great concept and coin that truly benefits the early adopters and those willing to stake their coins rather than trade them. I hope it does not come down to simply being a coin that was a launched at a less then optimal time. Like Altpocalypse said, Seed has the potential to turn things around, but will people trust/acknowledge it?

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September 29, 2014, 07:03:10 PM
 #129

I bought a few Seed coins immediately after the ICO opened.  I was one of the first to buy.  And I'll be staking as soon as possible.
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September 29, 2014, 09:30:57 PM
 #130

500 BTC ICO is way too optimistic in this market.  It's borderline delusional.  No offense to the Seed coin team at all.  I like the concept behind Seed and I love to see something new being offered.  But look at ARCH... with it's amazing branding, design, whitepapers, partnerships, etc... it has only raised just over 300 BTC so far after nearly a full month of consistent hype. 

Maybe if the majority of ICOs / IPOs had not been complete disasters or scams within the last few months, 500 BTC would have been reasonable.  Volume in crypto is just too low right now, and overall confidence in crypto is even lower. With that said, I sincerely hope Seed helps turn things around.

As sad as this is, it's true. Math never lies, and the numbers you came up with can lead to a great concept and coin that truly benefits the early adopters and those willing to stake their coins rather than trade them. I hope it does not come down to simply being a coin that was a launched at a less then optimal time. Like Altpocalypse said, Seed has the potential to turn things around, but will people trust/acknowledge it?

Thank you both. I am going to continue being optimistic on this one. I knew from day 1 that there were many scenarios, and ways this could play out. Raising the minimum in ICO obviously being the best case scenario, though not raising it is no where near the worse case scenario.

The plan and idea from day 1 is to leave it up to the community to decide how it all unravels. Not even I can know what to expect at this point.

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September 29, 2014, 09:37:34 PM
 #131

Haha, whoa, there was an early seedcoin from 2013 that died: SDC

http://www.seedcoin.org/

twitter.com/notsofast
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September 29, 2014, 10:07:42 PM
 #132

Haha, whoa, there was an early seedcoin from 2013 that died: SDC

http://www.seedcoin.org/

Yeah lol. 2013 - Pretty sure that website was made in the 90's. Not surprised it died.

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September 29, 2014, 10:14:15 PM
 #133

So when will the ICO end?
cryptzo
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September 29, 2014, 10:19:12 PM
 #134

So when will the ICO end?

5pm EST on Friday October 3rd

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September 29, 2014, 11:03:35 PM
 #135

And then the wallet will be release so we can start staking? Smiley

regards Anoxy
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September 29, 2014, 11:27:11 PM
 #136

And then the wallet will be release so we can start staking? Smiley

regards Anoxy

You got it Wink

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September 30, 2014, 02:00:43 AM
 #137

what's the current ipo price?

a little expensive?
cryptzo
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September 30, 2014, 03:09:08 AM
 #138

what's the current ipo price?

a little expensive?

The price is on a rising scale that goes up hourly. The current price can be found at http://seed-coin.com/ if you click on the 'I.C.O.' tab at the bottom.


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September 30, 2014, 02:24:01 PM
 #139

And then the wallet will be release so we can start staking? Smiley

regards Anoxy

You got it Wink

Does the staking begin as soon as the wallet is released or is their going to be a mining period as stated in the original post (or will it be both POW and POS at the same time?)

Is Cryptzo the only developer or is their a team behind you? (Doing the actual developing for the coin, not including the Pink coin dev team)

What's the plan for the coin?  Other then trying to be a fair distribution what will be the selling features of the coin?

Will there be mining pools up when the POW mining phase starts?

Thanks

cryptzo
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September 30, 2014, 05:57:21 PM
 #140

And then the wallet will be release so we can start staking? Smiley

regards Anoxy

You got it Wink

Does the staking begin as soon as the wallet is released or is their going to be a mining period as stated in the original post (or will it be both POW and POS at the same time?)

Is Cryptzo the only developer or is their a team behind you? (Doing the actual developing for the coin, not including the Pink coin dev team)

What's the plan for the coin?  Other then trying to be a fair distribution what will be the selling features of the coin?

Will there be mining pools up when the POW mining phase starts?

Thanks

The staking period begins on block 1440, 1 day after the mining period begins. Mining and staking will take place simultaneously, but the staking during this time will only be for 1%. It's intended to provide a tactical advantage for people that bought coins to reduce the number of mined coins, as every staked block replaces what would have otherwise been a mined block. It also gives people that are unfamiliar with the staking process the opportunity to become familiar with it, as it is critical during the growth period.

There's two other developers behind me, but their role is more or less supportive at this point, but they are prepared to take on a larger role depending on the success of the coin.

The plan was to raise enough btc to be able to set a hard market floor, and take the coin straight to market as a coin that's value is backed directly with btc. Ultimately though, the real goal is to tap every aspect of the growing seed mentality and apply that to every aspect of the coin. As far as the coin itself goes, 'growth' stops with the growing period, and goes into maturity where it grows much more slowly.

Development wise I'd like to keep the wallet as lightweight as possible, but we're exploring options there at the moment. I'm looking at ways to reduce the blockchain footprint and extend ease of use.

Yes there will be pools up from the start, or very shortly (minutes) after the mining phase begins. The initial 100 blocks will have no reward, so everyone will have an opportunity to be able to mine from the very beginning.

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