[ANN] Qora | Released 16 May | 100% POS | New Source - page 488.

notsoshifty

sr. member

Activity: 378

Merit: 250

Quote from: qora on April 05, 2014, 06:45:22 AM

Quote from: zjz_lgd on April 05, 2014, 06:11:13 AM

I don't like ipo coin, why don't you burn coins?
Now too many ipo coins alread!

To use proof-of-burn correctly it should be build on top of another cryptocurrency and use its blockchain.
This currency does not rely on any other cryptocurrency so there is no point in using proof-of-burn.

You are already relying on BTC, by asking for investment to be made using it.

You could also designate an unspendable BTC burn address (a la Counterparty), and at the end of the burn period manually check the deposits made; these deposits form the initial investors.

The benefits of this include:
- No way for developer to cheat the system by 'investing' using his own funds (using sockpuppet accounts or similar), and then immediately getting those funds back
- Demonstrates that developer is not simply looking at short-term profit (BTC IPO)

qora

full member

Activity: 231

Merit: 100

Quote from: zjz_lgd on April 05, 2014, 06:11:13 AM

I don't like ipo coin, why don't you burn coins?
Now too many ipo coins alread!

To use proof-of-burn correctly it should be build on top of another cryptocurrency and use its blockchain.
This currency does not rely on any other cryptocurrency so there is no point in using proof-of-burn.

zjz_lgd

full member

Activity: 173

Merit: 100

zjz_lgd

I don't like ipo coin, why don't you burn coins?
Now too many ipo coins alread!

qora

full member

Activity: 231

Merit: 100

Quote from: wizzardTim on April 04, 2014, 07:39:16 AM

so, will there be an escrow or not?

https://bitcointalksearch.org/topic/m.6065055
Now it is up to you to find a reputable escrow provider who is willing to do this.

I haven't decided if there will be a 4th week or not.
Any investment will be refundable before launch.

wizzardTim

legendary

Activity: 1708

Merit: 1000

Reality is stranger than fiction

so, will there be an escrow or not?

ms983845

newbie

Activity: 16

Merit: 0

With escrow Im in.
Also background/info on dev team would be great. Would give some real credibility to the project and what you could achieve

qora

full member

Activity: 231

Merit: 100

Quote from: SerDonald on April 04, 2014, 03:54:39 AM

sent you some btc please confirm

Confirmed.

SerDonald

newbie

Activity: 2

Merit: 0

sent you some btc please confirm

ShadowOfScales

full member

Activity: 138

Merit: 100

In the case beta funds are available, some coins to start off would honestly be amazing.

QfnJG3eVJjMgK4nifMm7jPyPbUKzQDvmQ5

standards

sr. member

Activity: 560

Merit: 261

Quote from: qora on April 04, 2014, 02:30:35 AM

IPO is still open until Wednesday 9 April 2014 1pm GMT.

Oke about the escrow I checked out the approach eXocoin used.
On launch the provider will have the possibility to check out the whole application.
If he agrees the application is working correctly we can start exchanging Qora <-> BTC in small increments.
The exchange of Qora <-> BTC must happen within the first month of release.
The escrow provider is responsible for delivering the funds.

This way we are both protected.

With escrow available, you can gain much more BTC in IPO.

qora

full member

Activity: 231

Merit: 100

IPO is still open until Wednesday 9 April 2014 1pm GMT.

Oke about the escrow I checked out the approach eXocoin used.
On launch the provider will have the possibility to check out the whole application.
If he agrees the application is working correctly we can start exchanging Qora <-> BTC in small increments.
The exchange of Qora <-> BTC must happen within the first month of release.
The escrow provider is responsible for delivering the funds.
The escrow provider must contact me first and ask me if the investment will be accepted.

This way we are both protected.

91porn

full member

Activity: 156

Merit: 100

Quote from: notsoshifty on April 03, 2014, 09:33:51 PM

Quote from: Troonetpt on April 03, 2014, 08:01:51 PM

Quote from: qora on April 03, 2014, 01:05:12 PM

I can not allow an escrow provider to have the power to destroy this project.

Why would an escrow destroy this project?
May be you can choose Anon136 who provide escrow for eXoCoin.

I also don't understand why an established escrow provider in this forum would want to destroy his own reputation in this way.

As well as Anon136 and TheMightyX, consider TomatoCage. Although probably none of these three would provide escrow if funds are delivered to dev before dev delivers coins to investors.

Without suitable escrow, will this coin get wide enough distribution to allow it to be a success? Nxt got 73 investors and that low number is still its biggest problem.

I agree with you.
Anon136 is a great man we can trust.

91porn

full member

Activity: 156

Merit: 100

Look it great.

kdrop22

full member

Activity: 238

Merit: 100

Send me some Beta coins for testing.
QiLMJyyxzRzY8NF5ZD5W2h18VXQJhmrWF8

kdrop22

full member

Activity: 238

Merit: 100

I trust Qora Devs, I invest without escrow.

notsoshifty

sr. member

Activity: 378

Merit: 250

Quote from: Troonetpt on April 03, 2014, 08:01:51 PM

Quote from: qora on April 03, 2014, 01:05:12 PM

I can not allow an escrow provider to have the power to destroy this project.

Why would an escrow destroy this project?
May be you can choose Anon136 who provide escrow for eXoCoin.

I also don't understand why an established escrow provider in this forum would want to destroy his own reputation in this way.

As well as Anon136 and TheMightyX, consider TomatoCage. Although probably none of these three would provide escrow if funds are delivered to dev before dev delivers coins to investors.

Without suitable escrow, will this coin get wide enough distribution to allow it to be a success? Nxt got 73 investors and that low number is still its biggest problem.

precrime3

member

Activity: 84

Merit: 10

PM for journalist,typing,and data entry services.

If beta funds are still available for giving:
QMrpMzJqzwxDUHHLLEQi5g2SmwpAM2FZxC
Thanks In advance Grin

Troonetpt

sr. member

Activity: 322

Merit: 250

Quote from: qora on April 03, 2014, 01:05:12 PM

I can not allow an escrow provider to have the power to destroy this project.

Why would an escrow destroy this project?
May be you can choose Anon136 who provide escrow for eXoCoin.

qora

full member

Activity: 231

Merit: 100

Quote from: TheMightyX on April 03, 2014, 10:58:34 AM

While I agree people shouldn't just trust me blindly; I am a lot more trustworthy than you are at this point in time.
I have been a part of and actually contributed to the cryptocurrency community. I received part of the developer bounty funds for my work on the BoottleXCP Counterparty GUI. I have worked closely with JahPowerBit one of the major contributors to the Counterparty Counterwallet system on that.
I have a history here and all though I may be kind of a dick some times; People can go back and check my posts from months ago to see the kind of person that I am. I believe people will see that I am honest and fair.

You, not so much history.

Me handing over funds to you first = Protecting the developer
Me holding funds until you've handed over wallet/coins to investors = Protecting the investors

As previously mentioned, I would be protecting investor interests in all cases.

regarding restarting the IPO... it "wouldn't be fair" to the whole 6 people that have invested 1 BTC so far?

You do know that until eXoCoin accepted escrow it got maybe a couple BTC and after allowing escrow it got over 200 BTC in total?
If this project really is what you claim it to be, you are selling yourself short.
The only reason I can think of to intentionally do that is poor business sense or malicious intentions.

If investors want to be protected from a not working client they can use escrow.
If investors want to be protected from me not sending them the funds on launch they can simple buy some after the launch.

It doesn't matter how trusted someone is. I can not allow an escrow provider to have the power to destroy this project.

TheMightyX

sr. member

Activity: 350

Merit: 250

Vires in Numeris

Quote from: qora on April 03, 2014, 05:32:04 AM

Quote from: notsoshifty on April 03, 2014, 04:58:25 AM

Quote from: qora on April 03, 2014, 03:21:17 AM

- The escrow must be released within the first month of release. After the escrow has been released the participants will get access to their funds.

Participants not getting access to funds until after escrow is released somewhat defeats the point of escrow!

Also, please make it clear (qora & any escrow provider) what the participants' cancellation terms are, should they choose not to go ahead (assuming it is not a blatant scam). E.g. can they simply say "I'm no longer interested" and get their funds back, and if so until what time?

The purpose of the escrow is to make sure there is a valid and working client.
If I would not release the funds after he has released the escrow it would destroy this project.
The same goes for him. If he doesn't release the escrow it would destroy the project and I can not give him that much power.

People can always ask for refunds.
And after the launch they can exchange their funds back for their investment.

While I agree people shouldn't just trust me blindly; I am a lot more trustworthy than you are at this point in time.
I have been a part of and actually contributed to the cryptocurrency community. I received part of the developer bounty funds for my work on the BoottleXCP Counterparty GUI. I have worked closely with JahPowerBit one of the major contributors to the Counterparty Counterwallet system on that.
I have a history here and all though I may be kind of a dick some times; People can go back and check my posts from months ago to see the kind of person that I am. I believe people will see that I am honest and fair.

You, not so much history.

Me handing over funds to you first = Protecting the developer
Me holding funds until you've handed over wallet/coins to investors = Protecting the investors

As previously mentioned, I would be protecting investor interests in all cases.

regarding restarting the IPO... it "wouldn't be fair" to the whole 6 people that have invested 1 BTC so far?

You do know that until eXoCoin accepted escrow it got maybe a couple BTC and after allowing escrow it got over 200 BTC in total?
If this project really is what you claim it to be, you are selling yourself short.
The only reason I can think of to intentionally do that is poor business sense or malicious intentions.

Topic: [ANN] Qora | Released 16 May | 100% POS | New Source - page 488. (Read 748258 times)