https://i.imgur.com/K8GA6mH.pnghttps://i.imgur.com/KmsNANn.png
Below NectaCoin addresses the latest rounds of comments, criticisms, other feedback and suggestions. Please keep them coming.
We aim to address every batch of posts in a single response posted by the end of each weekday,
Monday to Saturday generally (we're out on Sundays).
Message thread policy reminder:
Please do not advertise other coins in our message thread, which is for the discussion, criticism, feedback, etc. of NectarCoin.
We don't do that to other threads and expect others to pay us the same courtesy. If not, zzzap.
All our previous posts:
Link1
Link2
I don't get all these IPO's. You have nothing yet but if people give you money then you will build it. That's like going on an interview for an engineering job and when asked if you have a degree you say not yet but if you hire me I'll go to school and get one.
That's the wrong analogy. This is more like a freelance project, or construction project, where we have presented our credentials, including ratings and testimonials from past clients, and are contracted to deliver the product on a payment-in-stages/payment-by-delivered-milestones basis. We propose a strict milestone/delivery-based payment schedule where we are only paid based on the delivery of each milestone - on a delivery-by-delivery basis. There is no risk to buyers that we will be paid without delivering.
Hell, if I had the kind of money you guys are probably asking for I could build a "commercial-grade application for mainstream use". You're not doing anything special.
That's part of our point - quality work like this has to be paid for to be delivered and sustainable. We don't understand the logic that says you get what you don't pay for. We're curious about the mindset that says quality work can be expected to come for free. We're testing the theory that this market wants quality work and is willing to pay for it.
Everyone has ideas. Rarely do people follow through with anything. This "give me the money now and I'll build it" is getting old. Crypto is the only place where money is raised with nothing but some buzz words, fancy graphics, and promises of things to come.
We've provided much more than that.
In the real world people investing at least know who is getting their money
We've provided proof of dev both to CryptoAsian and to hosts. CryptoAsian has verified we're a Western European IT services group among the top 5% among more than 40,000 IT providers on a top online IT service provider platform:
http://proofofdev.com/sweet-nectarcoin/and they expect to typically see something tangible like a prototype, working demo, anything.
We've provided a link to a raw online demo of our altcoin alert system:
http://88.80.189.58/webpage/ In crypto people just hand over money to complete strangers that they will never be able to recover their money from when things go bad based on a two paragraph ANN on bitcointalk. It just insane.
We're intrigued by those that say crypto needs more profesional, high-quality, reliable developers and development work - but aren't willing to pay what it costs to support it and make it sustainable. We have a theory that this space is sick and tired of the mediocrity and unreliability witnessed here to date and, though cyncical about newcomers (and sadly that cynicism is well justified by what's happened here over the past year), will be happy to pay for it once convinced that we're the real deal. We are the real deal, and you just don't get quality work like this for free or done on a part-time, hobbyist basis. The past year of what's happened in this forum should make that abundantly clear.
We think a lot of dev projects here have failed not necessarily because they were scams, but because they were done "on the cheap", on a low-priority, parti-time basis and were therefore not sustainable.
And as for the outright scams, do not make the mistake of presuming that because they're been so many scams here, every newcomer development group here is a scammer. If we were, we wouldn't be proposing the kind of multi-sig milestone-based escrow payment release schedule we have. Instead, we'd be proposing to get all of the escrow up front - we don't. We don't get a dime until each milestone is delivered.
And we have a long-term view. The BTC raised is, frankly, a means to an end not an end in itself. We want to build a coin network that people rave about, develop "street cred" and a long-term reputation in crypto that expands blockchain-technology work as a long-term recurring revenue stream for our business - to us, that is immensely more valuable than a one-time crowdsale. We frankly do not understand the short-sightedness of scammers who value a one-time payoff more than a happy client base, a good, long-term reputation and relationship and repeat business.
I'll be honest. I don't think you'll ever complete what you say your setting out to do. You have some conceptual design graphics for a wallet that you made in Photoshop, a worthless POD, and some fancy words. I don't see anything different from the last 100 or so IPO's launched in the last month or two. All a person has to do is look at all the worthless coins launched as IPO's worth much less than their selling price, no volume, and a bunch of bagholders. There are dozens of them on C-Cex, Bittrex, and other exchanges that have been delisted and more that will be. Why will this one be any different?
You're comparing apples and oranges. Were any of these milestone/delivery-based staggered-escrow release crowdsales (protection from non-delivery), or where they all paid out their escrows upfront in a single lump sum at the start (no protection from non-delivery)? Did any of these have a proof of dev profile like ours?:
http://proofofdev.com/sweet-nectarcoin/Your anticipated adoption cycle is meaningless. There will be no widespread adoption of this coin.
How accurate has your prediction record been about the future? Did you anticipate Slack's success? If your prediction record is relatively good, we will welcome you to "put your money where your mouth is" and make those predictions on our event-prediction market system when it's done, and be recognised and valued by the market as a guru if you turn out to be right (we'll have much more, btw, on this leaderboard guru ranking system in the near future - we think prediction markets are huge as an empirical method by which to find out which pundits are really "in the know" about the future on multiple fronts).
Words are just words. There are crypto's already with massive amounts of money behind them that are struggling for relevance.
One of the very reasons we're doing this is because we aim to succeed where others (including bitcoin) have failed. That's one of the things that makes it worth doing instead of waiting for someone else (as we had) to finally do it.
Everything you talk about Skype, Slack, market alerts, messaging, etc... Already exists. People are not going to switch to your all in one thingymajiggy.
1) Skype and Slack are not decentralised and p2p - in both cases you're trusting your private data (in many cases, highly sensitive and valuable internal company data and company intelligence) to someone else who has a strong financial incentive to exploit that data for financial gain, like any other asset they hold. In the case of Slack - you're entrusting valuable company data and intelligence to a startup. To say nothing of the risk of hacks.
http://valleywag.gawker.com/slack-is-letting-anyone-peek-at-their-competitors-1643790919 (this was the original article that alerted and alarmed us)
http://www.theverge.com/2014/11/24/7255199/slack-alters-privacy-policy-to-let-bosses-read-your-messages https://twitter.com/jalak/status/536995093354668032 https://twitter.com/petrillic/status/5373059709854105602) Now, Slack seems like a great company. They execute well, and we're sure they'll try to at least partially address this and continue addressing this. But we're guessing that, in all likelihood, their basic client-server model will remain because it's a huge part of their market valuation by investors. They'll remain pressured by their stakeholders to maintain the model and, we'd argue, to reduce client privacy going forward, like many IT companies are.
3) And again this is to say nothing about the risks of hacks that have hit hard much bigger companies with much greater resources for security (Sony, JP Morgan, US government contractors, etc.).
3) We're unaware of any alert system like ours. Could you please point us to it if it exists?
4) A decentralised prediction market of the type we have in mind and with the implications we have in mind does not exist at all. This will become abundantly clear when we present the working paper.
5) We're unaware of any system that seamlessly integrates and overlaps this feature set the way we plan to, which we have not fully detailed here for obvious reasons (though we hint at it), but we will after the crowdsale.
Thank you for your interest in NectarCoin. We welcome any additional questions/comments/criticisms as long as they're mutually respectful.
No POW?
I don't have Skype etc.
Nope, no POW - it would be POS. We want to build a coin that is as resilient as possible to dumps, including miner dumps.
nice graphics is all that ready or with roadmap for later release?
Besides the raw online demo version of the altcoin alert system, which you're free to try through the link above, it's basically a concept/plan for later release. You can find more detail about NectarCoin here:
https://bitcointalk.org/index.php?topic=812124.msg9090897#msg9090897Thank you for your interest - feel free to let us know if you have any other questions.
No POW?
I don't have Skype etc.
Nope, no POW - it would be POS. We want to build a coin that is as resilient as possible to dumps, including miner dumps.
nice graphics is all that ready or with roadmap for later release?
Besides the raw online demo version of the altcoin alert system, which you're free to try through the link above, it's basically a concept/plan for later release. You can find more detail about NectarCoin here:
https://bitcointalk.org/index.php?topic=812124.msg9090897#msg9090897Thank you for your interest - feel free to let us know if you have any other questions.
Pure IPO?
A crowdfund - we're proposing to build a commercial-grade application for mainstream use, and the kind of development involved as well as other costs like legal and community management have to be funded to be sustainable and done right, though we've always been open to suggestions on how to best do that.
Note that we've proposed a strictly milestone-based multisig escrow release plan, where funds are released only as we deliver on the key components, shielding coin buyers from non-delivery and exchange risk. You can find more details
herecant open the website.
Is this still the case? Shouldn't be. Let us know. We had an invite-only IP restriction in place previously to minimise the risk of traffic overload but have relaxed that and are offering open access to all for now.
