Why doesn’t the autonomic project do an ico to raise money to fund their project?
One of the biggest problem of cryptocurrency is the lack of understanding of value , how it is created and how it is linked to a coin.
This problem carry on to the markets which does not reflect a rational value since is using charts belonging to the fiat based stock-market and is mostly effected by traders who are used to that economy rules (but I will not address the market issu on this reply)
On this reply I will address the issue of the Agoras token value and how the "Autonomic" branch of the project should increase that value, I will do that by mapping the evolution of the token:
1. 42,000,000 Coins where created by Ohad who is one of the two founders of the original Tauchain project.
2. These coins were issued to fund and eventually activate a platform named Zennet
https://bitcointalk.org/index.php?topic=736447.0 which Ohad started on his own and which was planned to enable decentralized contracts (for computing power at first) payed for by the token. The token sale started then and some initial investors already got in.
3. HMC met Ohad around that time and both decided to develop together the Tauchain which gives rise to the notion of the network being self-defining Sort of a "piece of code that download itself from github and execute it, again and again, while the code might be changed and do additional operations in the meanwhile. A Tau client downloads its own code from the root chain: it downloads a block, executes the code in it, and this code instructs how to download and run the next block. By that, the client understands the blockchain according to the network rules that were relevant at that point of time when the block was created.
http://www.idni.org/blog/projectroadmap .
4. Ohad then decided that the original Zennet development would also move on to Tauchain and would be developed on the Tau rootchain as an app. For the investors that ment a delay in the actual execution of the token activated app, but for the price of developing a much more advance autonomous ecosystem . On the way the investors gained the participation of a developer, some argue is at the top of his game. His name on the bitcointalk forum is HunterMinerCrafter, which is how Ohad knew him and still is the only identity he goes by. The tokens, now named Agoras, moved on to the Tauchain projects and the sell continued under that new and more fundamental paradigm of a blockchain. While the root of that chain was never design to use or implement a token, Ohad affirmed his investors by committing to develop the Agoras activated app on the tauchian right after genesis of the Tauchain.
5. Once Tauchain was introduced by the two founders, Ohad and HMC, the new investors took on to the premise of that revolutionary self-defining network concept and invested in Agoras based on that.
6. A dispute regarding the logic by which the underline language should be designed resulted in a split leaving Ohad to lead the Tauchain development based on a new design while HMC with two other developers moved on to created Autonomic and continue executing the original design of the "old" Tauchain. They did not take any of the funds with them and did not commit to implement any app once genesis is achieved. iI terms of the investors half of the Tauchain effort that they invested in was no more funded by their investment.
7. Being involved in the project from the beginning ,( perceiving it as a crucial point to allow for a decentralized governing technology to be formed), I pleaded HMC and his team to ask for their share of the funds in order to support their branch of the development to create the rootchain on which the Agoras activated app would then be built. That request was also founded on Ohad's initial commitment to build the Agoras activated app on a chain that would prove to work. However this did not go well since by that time the trust between the different developers reached an all time low.
8. Following that same line of reasoning I have decided to invest my share of Agoras ( a share granted to me as having some key influences in the beginning and which was fully given to me by Ohad a while back) to help speed the development attempted by the Autonomic team. This move for lack of trust was perceived by Ohad as a betrayal . However I have constructed it (according to HMC suggestion) as a payment program that follow a milestones outline. In fact at that point I act as the treasurer of the Autonomic project.
9. To make sure that the Autonomic project will keep the vested interest of the Agoras Token holders I have restricted all payment to be delivered in Agoras tokens as well as keeping all funds in Agoras token. This funding structure acts as insurance against a malicious damp while clearly incentive the Autonomic crew to work on behalf of the increased value to the Agoras tokens.
10. For the Angoras investors this move double the chance for return on their investment. Let me describe that in more details:
A. Assuming both chains would end up working out and on each a different Agoras based app would work then this would be like splitting the supply of the coins between two
application. ( I hope that the math is clear to all
) .
B. On the other hand since assuming a failure to construct a rootchain is an option , the chances for such failure, having two active teams working on two different approaches
to this yet unresolved problem, just been reduced to half (I hope that this math is also clear to all
).
C. I have great respect both for Ohad and HMC, I know both to be at the top of this game and to devote themselves for what they believe is the right way to achieve the same
goal. However since both are yet to prove which is design is right. (maybe both would end up being complementary to each other) We as the investors are now put back in
the position of gaining from the work of both teams despite the split and the distrust created along that fault line.
