I wouldn't be trusting EthBits project with the person that have negative rating account...
https://bitcointalksearch.org/user/ethbits-900663
And im very worry right now about the money that people already contributed to the crowdsale.
Please be aware!
Plus i didnt get any answers to my questions since two days...
Jenifive.
Ask questions with out quotes with out FUD and I personally will answer them I guarantee you. But stop spamming our thread with the same thing. I understand concerns from any investor into a new project but ask properly. If you genuinely have questions list them below. tomorrow I will answer to the best of my ability.
Thanks.
First you need to stop deleting any messages from this thread that are relevant to the project even if you dont like them.
Questions are in quotes because i see that you are refusing to answer to them and simply deleting messages.
The first three times my questions were without any quotes and accusations. But as i see you dont want to talk and banning me from Telegram, your subreddit, deleting messages from here. So what conversation are you talking about?
What so FUD about my messages? Can you alaborate on that? That i think you shouldn't trust people that cant answer to simple questions and instead of that deleting all?
Now after 30 times of deleting my messages from here, from Telegram and reddit you want to talk? Why not start doing it before it?
Spamming is posting the same message all over again where the same message is ALREADY located and not being deleted without any reason.
If you understand the concernes from inverstors why not just answer to the questions instead of doing something else?
The questions are:
1. We already have another well made exchanges goes through the fire, getting hacked (Polo) and getting stronger every time. And this would mean that if people will be trading on EthBits they will be risking money to lose. Because exchange will be fresh, without any fixes. And every new exchange is more exposed to hacks because developers dont have enough experience developering their own exchange. So there are will be exchange mistakes on which traders will be paying by losing money. What are the guarantees that EtherBits cold storage wont get hacked with traders money? How can you give any promises on that? Why doing another centralized exchange in the first place?
2. Why you need blockchain network to make a centralized exchange? Other than giving a very small percentage of dividents to token holders what is the another reason? I dont see one.
3. Why not starting exchange without crowdsale? Liqui.io is great example on that. They weren't started any crowdsale to get money from people. They did it by themselves.
The way i see EthBits is using excuse (Ethereum network) to get money for developing centralized exchange on which most of the profits will go only to you. I dont see the reason why else would you need this.
I wouldn't say a thing is this was a decentralized exchange project like bitsquare or openledger or
https://etherdelta.github.io but its not. Its from another world.
1. Good question seriously it is good. Well for the hacking part we are using a team of developers who know the concept of cold storage very well and I have mentioned it before that they have made an exchange that has never had any security problems. We will not be using smart contracts because we are not yet so confident enough. If we use standard well proven protocols with cold storage then the only security breach will be inside jobs and nobody wants to go on the run or go to jail. There will be no one with access to the code who is not well vetted and who has a equity in the company. It will not happen.
2.
Rather than get Angel investors (most of them already have a piece of the pie in other exchanges) we are doing a crowdsale so to give everybody an option to get good returns. We can not legally sit her and say yes you will get rich but we are extremely confident we can take on the top exchanges with volume quickly. Also we will be utilising our token to partly pay site fees and also part of the fees we take in our token will be burned. So we will have a constant volume with a reducing supply. We could not do that with pounds or bitcoin and if we could then it would be nice to hear how we could.
3. I kind of answered this before. I would say Liqui is successful but only a hand full of people are gaining considerable amounts of returns. we are aiming high like Polo. You can call that rubbish if you like but we have the right team in place to do so. Polo makes sometimes 1 Mill usd per day. imagine 40% of that shared out to the people who believed in us from the start or even people who bought our token at 50 times the value from now. I am not saying we will do any of this I am giving you a scenario. If we sell out and we make 1 mill per day then we will pay out 400k USD per day to token holders that will be better than what liqui offers by holding your bitcoin. So what would you prefer a handful of people making all the money or a community who saw an opportunity and grabbed it to share the profits. We are doing all the hard work all you have to do is believe in what we are doing. So your argument I do not understand.
1. So you are guarantee that EthBits exchange wont get hacked ever in any way? That cold storage can't be hacked ever? That could't happen? Poloniex using cold storage and even they were hacked several times. What are the names of developers that already made another exchanges and what are the name of their exchanges?
2. So your answer for my question is you are using blockchain network because you need to money for developing centralized exchange and there is no near any other reason why would you need to use particulary a blockchain? So if you had money for developing you wouldn't use ethereum network?
3. I'm sure Liqui will get bigger after some time and i dont see the reason why would some new exchange should be huge with a lot of users. If you are planning to start instantly like Polo with their volumes than you are risking to be hacked because a lot of hackers eyeballs will be watching your exchange.
I think there is no reason to be in a hurry to become big because you should get enough time to get trust and credibility.
I need the exact calculations what profit will token holders get if for example you will be having Bittrex month profit.
What profit will i get if i will be buying EthBits tokens for the current price in sum of 10 BTC.
For example:
I will be buying 20000 EBTS. It is 0.9% of all the 100% total EBTS cap.
If Exchange will be getting profit for 50k USD every day the token holders will be getting 1000 EBTS profits every month to my wallet.
Also will the exchange profit calculations be transparent and you will be making every month a thorough spreadsheet for investors? Or we will be trusting on your WORD that you will be fair and will give any exchange balance information? How also we could be sure that you will be getting correct data without any changes? Am i understand this right that your profit payments to tokens holders will be made by EthBits devs so we should trust you that your team won't scum anyone?
In total this is your business model?
You asking for 100% of money from people without any return for exchange development. No one can be sure if you even make this glorious exchange. No one is sure if it will any good. No one is sure if it will not be hacked.
And if at the end all will get well and you will finally release your exchange after a year or more for every 1 profited dollar you will take 0.6 cents for yourself and the rest 0.4 for all the token holders? What kind of fairy world are you live in? Do you think this is reasonable business model for people buying your coin?
Of course you signed NDA on your p2p exchange! No one should even know the name of such exchange in which you were developing it. Thats the kind of conforting information i need to know that will give me confidence in legitemacy of the project!
So you are saying you are guaranteeing that for the second type of security breach you can assure all that EthBits can't be hacked ever?
So if exchange will be using cold storage it will be exposed for being hacked on the level of database structure and withdrawal daemon in which situation traders will lose money anyway?
Honestly JenFive... you remind me of the little girl that cried wolf. TBH, i have contributed to this campaign, and believe in it, along with the other people that have invested $400,000 USD. If its a scam, I appreciate your efforts in hindsight, but the sheer fact is that i've already invested.
Fact, there are two possibilities moving forward since i'm already vested.
1) Its a scam. My money is lost
2) Its not a scam, and i stand to make money with these guys.
point one, if its a scam, my money is gone. You crying wolf isn't gonna bring it back.
point two, its not a scam, but your fuckin FUD, which at this point it seems more and more like, is actually good for me!!!!!
Why? Because regardless of your FUD, i'm already invested. So you're FUD is only scaring other investors away, and in essence, my investment will give me a better return.
For this FUD I thank you.
I know you guys are full of FUD, because your ENTIRE FUD bullshit argument is built on the fact the Dev's are deleting your FUD posts.
Its logic, that if i was a campaign manager, and dumb shits like you were creating FUD, i would delete that shit too. Freedom of speech on a moderated forum is not free.
You trolls are essentially trolling. How much is poloniex paying you? You guys have FUDd'ED SOOOO MUCH, that they are finally leaving your FUD. You do realize that?
That you look like a FUCKIN IDIOT.
AND IF I COULD. I would down vote all your trust, because this project is legit.
JUST GET THE FUCK OUT.
You aren't offering anything constructive.
If you are GOING to FUD, STOP.
I'm already invested.
They aren't deleting your FUD anymore, cuz they realize ur a fukin parasite.
BUT THANK YOU.
For scaring people away.
I'm not afraid, and I will get mine.
