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Topic: [ANN] NeuCoin - Easy to use, free to try, focused on micropayments - Official - page 80. (Read 196221 times)

legendary
Activity: 1181
Merit: 1002
From what I see angels, presale buyers, people who filled up surveys and team are very motivated in a success of Neucoin.

How do you see that, number of Neucon sockpuppets in the thread?
legendary
Activity: 1181
Merit: 1002

[...]
If the creators get rich this way who cares? Everyone else gets rich too! Because it's a smart structure and there is no dump.

Look, greg123, we all know that your a team-member sockpuppet created a couple of days ago.

Still..., yes, founders getting rich, nothing bad per se.

There is no dump (because supply side is controlled entirely by founders), but still a pump (look at the marketing efforts, the forum hopping, the paid articles, the ad campaigns, ...).

If you call that smart, well call it smart.
I call it long run scam.

newbie
Activity: 17
Merit: 0
Quote
I've answered a similar question before. I consider the NoKoin project as an interesting psychological study in which all facets of human blindness are studyable.

Thanks for answering Mr Confirmed (or should I call you Scam?). I mean, its utter bollocks, but at least you took a shot (Rizzlarolla take note!).

For starters, *All* facets of human blindness? Even the most obvious, as in people who actually have no eyesight? How about colour blindness? Why don't you come clean and tell us which Altcoin you are a fan of? Gekko for all his unhinged bigotry makes no secret of the fact that he is big into UNO (I think the crypto currency - although it may be the card game - you never know with him) so its clear to see he's trying to talk down the competition. Actually I say makes no secret, its all over his post history on Reddit and here, but oddly he never mentions it in any of his NeuCoin attack posts - he's only here to save us poor innocents from ourselves!

RizzlaRolla - still waiting to hear from you pal! Which coin are you invested in? Why do you hate NeuCoin? Perhaps you consider Neucoin an interesting psychological study in which all facets of human deafness are studyable?

Quote
So now the allegations of a pump and dump have metamorphosed into "getting rich slowly and consistently". That's interesting, troll.

This is simply brilliant.


newbie
Activity: 4
Merit: 0
From what I see angels, presale buyers, people who filled up surveys and team are very motivated in a success of Neucoin.

That makes a large group of motivated people working towards one goal. The power of community efforts usually equals good results.

Those who don't like Neucoin have a huge choice besides Bitcoin - Litecoin, Peercoin, Ripple or more exotic like Unobtanium and etc.

Don't get all this whining around it. If you don't trust them, move on.

hero member
Activity: 630
Merit: 500
So now the allegations of a pump and dump have metamorphosed into "getting rich slowly and consistently". That's interesting, troll.

If the creators get rich this way who cares? Everyone else gets rich too! Because it's a smart structure and there is no dump.


I wonder why no one of the presale buyers gives his view on the intransparent distribution of BTC from public presale as well as the intransparent distribution of $$$ from strategic angel investors prior to public presale. Is it because you don't want to know?


BTW: I still think it's a pump and dump. Insiders will make sure to reach ROI as soon as possible.
newbie
Activity: 33
Merit: 0
I emphasized the important sentence -> The team will do everything to make the value go up.
This is planned because that way and with the vast majority of coins under their control for a really long time, they can get rich slowly and consistently.

You call it smart, I call it reckless and greedy.



I don't see it as reckless and greedy at all. I see it as responsible and fair. A smart way to create steady, long term growth that benefits everyone who owns coins, with some mechanisms in place to prevent big holders from dumping.

A slow, steady rise in value prevents P&D, is good for the coin and will help it grow even more (more consumers, more services), and therefore good for all holders. No pump, no dump - just steady growth.

And remember, the reason it would even go up in value in the first place is all the stuff the foundations are doing - distrubution to stimulate new services, acquiring lots of users, integrating with mobile games, etc. And the reason it won't tank is because of the restrictions.

If the creators get rich this way who cares? Everyone else gets rich too! Because it's a smart structure and there is no dump.
newbie
Activity: 38
Merit: 0
I emphasized the important sentence -> The team will do everything to make the value go up.
This is planned because that way and with the vast majority of coins under their control for a really long time, they can get rich slowly and consistently.

You call it smart, I call it reckless and greedy.

So now the allegations of a pump and dump have metamorphosed into "getting rich slowly and consistently". That's interesting, troll.
hero member
Activity: 630
Merit: 500
The team may sit on the board of the foundations for the first year but that doesn't mean they can (or would want to) take all the coins.

Here's how I read it:

The foundations will have all their coins in published wallets - which makes it easy to see if, when and where coins go out.  

The reports will explain who the recipients are and what the coins are for - and follow the distrubution plan they published.
So I can't see how the team could steal from the foundations without anyone finding out.

Team, angel investors, exchanges, game companies, etc will also have their restricted coins in published accounts where it can be verified that they stay and abide by sale restrictions. So I can't see how they could dump more than what's come unrestricted without anyone finding out either.

I believe that they are trying to make this work so that the coins they have will go up in value - not try and steal more coins in a way that tanks the value. That's why they have sale restrictions in the first place - to calm the market that they can't dump. They didn't have to invent sale restrictions, but they did. Remember what happened when Jeb McCaleb said he was going to sell all his Ripple? They were completely unrestricted and he was an enormous whale and the price of XRP tanked, even though he never actually sold! Just on fear alone. That's why they added these restrictions, to avoid something like that.

I think the structure with the foundations, the distrubution plan and the restrictions is smart.

I emphasized the important sentence -> The team will do everything to make the value go up.
This is planned because that way and with the vast majority of coins under their control for a really long time, they can get rich slowly and consistently.

You call it smart, I call it reckless and greedy.


So sure, the incentives are aligned to prevent extreme-short-term profiting by the team. But, the incentives acknowledge the ultimate futility and hopelessness of this altcoin effort, in the face of Bitcoin, by taking only a slightly longer view (6 months to 1 year to 3 years).
legendary
Activity: 1181
Merit: 1002
The team may sit on the board of the foundations for the first year but that doesn't mean they can (or would want to) take all the coins.

Here's how I read it:

The foundations will have all their coins in published wallets - which makes it easy to see if, when and where coins go out.  

The reports will explain who the recipients are and what the coins are for - and follow the distrubution plan they published.
So I can't see how the team could steal from the foundations without anyone finding out.

Team, angel investors, exchanges, game companies, etc will also have their restricted coins in published accounts where it can be verified that they stay and abide by sale restrictions. So I can't see how they could dump more than what's come unrestricted without anyone finding out either.

I believe that they are trying to make this work so that the coins they have will go up in value - not try and steal more coins in a way that tanks the value. That's why they have sale restrictions in the first place - to calm the market that they can't dump. They didn't have to invent sale restrictions, but they did. Remember what happened when Jeb McCaleb said he was going to sell all his Ripple? They were completely unrestricted and he was an enormous whale and the price of XRP tanked, even though he never actually sold! Just on fear alone. That's why they added these restrictions, to avoid something like that.

I think the structure with the foundations, the distrubution plan and the restrictions is smart.

I emphasized the important sentence -> The team will do everything to make the value go up.
This is planned because that way and with the vast majority of coins under their control for a really long time, they can get rich slowly and consistently.

You call it smart, I call it reckless and greedy.

newbie
Activity: 33
Merit: 0
[...]
I have never heard of any other coin that has restrictions like this.
[...]

Me neither, but then again, ever heard of a coin were founders and team keep like 99% after the pre-sale  Roll Eyes

That's not how I read the post. The founders and team don't control the majority of the coins. The foundations do, for the first few years, then a minority even as the coins are distrubuted. And the foundations have a defined plan for how to distrubute them to consumers, exchanges, games etc.
And all coins will be in specific wallets and transactions seen on the blockchain and disclosed in reports. So that's good.

Another thing I like is that all the coins distrubuted by the foundations will have sale restrictions too.


Oh, the foundations - do they have nothing to do with founders and team?

As for the monitoring, that's a property of blockchain tech, it's not really a USP.



The team may sit on the board of the foundations for the first year but that doesn't mean they can (or would want to) take all the coins.

Here's how I read it:

The foundations will have all their coins in published wallets - which makes it easy to see if, when and where coins go out.  

The reports will explain who the recipients are and what the coins are for - and follow the distrubution plan they published.
So I can't see how the team could steal from the foundations without anyone finding out.

Team, angel investors, exchanges, game companies, etc will also have their restricted coins in published accounts where it can be verified that they stay and abide by sale restrictions. So I can't see how they could dump more than what's come unrestricted without anyone finding out either.

I believe that they are trying to make this work so that the coins they have will go up in value - not try and steal more coins in a way that tanks the value. That's why they have sale restrictions in the first place - to calm the market that they can't dump. They didn't have to invent sale restrictions, but they did. Remember what happened when Jeb McCaleb said he was going to sell all his Ripple? They were completely unrestricted and he was an enormous whale and the price of XRP tanked, even though he never actually sold! Just on fear alone. That's why they added these restrictions, to avoid something like that.

I think the structure with the foundations, the distrubution plan and the restrictions is smart.
legendary
Activity: 1181
Merit: 1002
[...]
I have never heard of any other coin that has restrictions like this.
[...]

Me neither, but then again, ever heard of a coin were founders and team keep like 99% after the pre-sale  Roll Eyes

That's not how I read the post. The founders and team don't control the majority of the coins. The foundations do, for the first few years, then a minority even as the coins are distrubuted. And the foundations have a defined plan for how to distrubute them to consumers, exchanges, games etc.
And all coins will be in specific wallets and transactions seen on the blockchain and disclosed in reports. So that's good.

Another thing I like is that all the coins distrubuted by the foundations will have sale restrictions too.


Oh, the foundations - do they have nothing to do with founders and team?

As for the monitoring, that's a property of blockchain tech, it's not really a USP.

newbie
Activity: 33
Merit: 0
[...]
I have never heard of any other coin that has restrictions like this.
[...]

Me neither, but then again, ever heard of a coin were founders and team keep like 99% after the pre-sale  Roll Eyes

That's not how I read the post. The founders and team don't control the majority of the coins. The foundations do, for the first few years, then a minority even as the coins are distrubuted. And the foundations have a defined plan for how to distrubute them to consumers, exchanges, games etc.
And all coins will be in specific wallets and transactions seen on the blockchain and disclosed in reports. So that's good.

Another thing I like is that all the coins distrubuted by the foundations will have sale restrictions too.

I think this is smart. Much smarter than when founders have a lot of coins they can dump at any time.
legendary
Activity: 1181
Merit: 1002
[...]
I have never heard of any other coin that has restrictions like this.
[...]

Me neither, but then again, ever heard of a coin were founders and team keep like 99% after the pre-sale  Roll Eyes
newbie
Activity: 33
Merit: 0
I hadn't realized that the restrictions would also apply to the staked coins. That's good.

At the initial 100% PoS rate this is potentially irrelevant, even without including the discounted value !

https://en.wikipedia.org/wiki/Hyperinflation
That makes it even more relevant in my opinion. All those staking rewards are also subject to sale restrictions.

So no matter how much the coins increase through mining - team, etc can never sell more than 2%-6% a month of whatever they have for the first five years.

And the coins will grow just as much for the rest of us that are staking. But we have no restrictions!

I have never heard of any other coin that has restrictions like this. I really like it.
hero member
Activity: 630
Merit: 500
I hadn't realized that the restrictions would also apply to the staked coins. That's good.

At the initial 100% PoS rate this is potentially irrelevant, even without including the discounted value !

https://en.wikipedia.org/wiki/Hyperinflation
newbie
Activity: 33
Merit: 0
I hadn't realized that the restrictions would also apply to the staked coins. That's good.
newbie
Activity: 2
Merit: 0
Everyone knows about beta wallet yay. Why they dont give the mining information?
legendary
Activity: 2296
Merit: 1038
Bitcoin Trader
whether this will really be released in the near future before 30 September, as a beta tester on the wallet was already quite good and nice
newbie
Activity: 2
Merit: 0
We made questions about mining but noone ever replies. Organisation is managed so poorly. I dont know if Ophelie and Sandrine dont care or if they unable to cope. Time will tell. do you know more?  http://forum.neucoin.org/t/pow-mining-change-of-algorithm/1368
hero member
Activity: 812
Merit: 1001

Coin holdings restricted for use or sale
First of all, unlike any other cryptocurrency project, all members of the founding team, angel investors, and service providers of the NeuCoin Project have agreed to the imposition of use and sale restrictions on the NeuCoin tokens they have received or will receive. Restricted coins become unrestricted according to the following schedule:
  • 2% of holdings per month in the first year
  • 3% per month in year two
  • 4% per month in year three
  • 5% per month in year four
  • 6% per month in year five
  • After year five, all restrictions expire

Illustration of how the re-sale restrictions work in practice
Consider an angel who owns 1 million NeuCoin tokens on the day of launch. For the first month after launch, the angel cannot sell any NeuCoins; indeed the angel does not even have any access to the private keys for his/her tokens. During the month, assume the angel’s NeuCoins grow to 1.08 million due to POS rewards. At the end of the month, 2% of 1,080,000, or 21,600, would become unrestricted and sent to the address of the angel’s choice. At the beginning of month two, the angel has 1,058,400 restricted NeuCoins. During the month, assume this restricted coin balance grows 7.9% from POS rewards to approximately 1,142,000 coins. At the end of the second month, 2% of this balance, or 22,840 coins, become unrestricted, and will be sent to the angel’s address. And so on.


This seems ok. Makes everybody motivated to increase the value of the coin, at least for 5 years.

Yeah, seems ok. Till you crunch the numbers.
Do the math. You will see it is a ponzi?

$40m will be paid to founders/team/angels in just the first 3 years alone, at presale prices.
That's the equivalent of a presale every month for the next 3 years.

Do the math yourself.
neucoin wont do them for us.
Can't understand why they don't want us to know?

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