Like Drak already said, the IPO money is his own money. He never said he was going to use it for development or advancing the coin.
when did he say this? can you please post a link?
Topic: [ANN] [VIA] ★ Viacoin ★ ~ the future of digital currency ~ ★ - page 80. (Read 825880 times)
when did he say this? can you please post a link?
Like Drak already said, the IPO money is his own money. He never said he was going to use it for development or advancing the coin. He had the presale just because 1) he doesnt work for free and 2) he thought this is the only way to have a fair distribution of the coins.
Basically when you bought the IPO, you bought the coins that DRAK was selling you. It was a presale, not a crowdfund or a fundraising or anything else. Basically you paid that guy $360K for VIACOIN.
Although he did use some money to hire Peter Todd and continue to work on the coin. I think the only reason he is still around when most other altcoin devs have left, (besides the obvious reputation hit) is because he isnt depending on the price of VIACOIN. HE already had gotten the money from it, so right now he is like a kickstarter developer. All the money upfront, so he can stay and work in peace without having to worry about wtf2do and hype/pump the price.
Thats as clear answer as you will get. Drak wont come and say this with these words because he is more diplomatic in his aproach, but that is the general idea.
So bottom line, those 600BTC IPO funds, as soon as the IPO ended were his own money, not the project's money.
You gave him that lump sum of money and he can do as he pleases with it.
He obviously used some of that money to advance Viacoin, hire Peter Todd, and continue to work on various VIA related projects
He is continuing to work on VIA, aka he didnt leave the coin or bail from the project, and he will probably continue to spend as much money as he needs on various new things that will be needed
Thats all there is too it, and to be honest, i am not sure what else do you want Drak to say about this matter.
TL;DR
1) IPO money is drak's own personal money
2) IPO money is not exclusively VIACOIN project money although some money was spent on VIACOIN
3) Drak has a high developer hourly rate
4) There wont be any buybacks, give back the IPO money (there isnt any IPO money anymore, all the coins got sold a long time ago on the exchange, remember personal finances)
5) Drak has delivered on the tech part, so he cant be called a "scammer"
6) Technology has no relevance on Price. He doesnt care about the price, because he isnt invested in the financial part (because he already got paid from it, and if he was smart, he probably made a fuckton on the 2 rises upward + the zynga pump)
7) QQ more
Can we get another dump to 200 sats plz tnx
Basically when you bought the IPO, you bought the coins that DRAK was selling you. It was a presale, not a crowdfund or a fundraising or anything else. Basically you paid that guy $360K for VIACOIN.
Although he did use some money to hire Peter Todd and continue to work on the coin. I think the only reason he is still around when most other altcoin devs have left, (besides the obvious reputation hit) is because he isnt depending on the price of VIACOIN. HE already had gotten the money from it, so right now he is like a kickstarter developer. All the money upfront, so he can stay and work in peace without having to worry about wtf2do and hype/pump the price.
Thats as clear answer as you will get. Drak wont come and say this with these words because he is more diplomatic in his aproach, but that is the general idea.
So bottom line, those 600BTC IPO funds, as soon as the IPO ended were his own money, not the project's money.
You gave him that lump sum of money and he can do as he pleases with it.
He obviously used some of that money to advance Viacoin, hire Peter Todd, and continue to work on various VIA related projects
He is continuing to work on VIA, aka he didnt leave the coin or bail from the project, and he will probably continue to spend as much money as he needs on various new things that will be needed
Thats all there is too it, and to be honest, i am not sure what else do you want Drak to say about this matter.
TL;DR
1) IPO money is drak's own personal money
2) IPO money is not exclusively VIACOIN project money although some money was spent on VIACOIN
3) Drak has a high developer hourly rate
4) There wont be any buybacks, give back the IPO money (there isnt any IPO money anymore, all the coins got sold a long time ago on the exchange, remember personal finances)
5) Drak has delivered on the tech part, so he cant be called a "scammer"
6) Technology has no relevance on Price. He doesnt care about the price, because he isnt invested in the financial part (because he already got paid from it, and if he was smart, he probably made a fuckton on the 2 rises upward + the zynga pump)
7) QQ more
Can we get another dump to 200 sats plz tnxLink? And did he say this from the very beginning?
Dude... isnt this clear enough or what? I mean , holly fuck with the did he say that ? please drak answer etc...
https://twitter.com/btcdrak/status/581838504012955648/photo/1
Like Drak already said, the IPO money is his own money. He never said he was going to use it for development or advancing the coin. He had the presale just because 1) he doesnt work for free and 2) he thought this is the only way to have a fair distribution of the coins.
Basically when you bought the IPO, you bought the coins that DRAK was selling you. It was a presale, not a crowdfund or a fundraising or anything else. Basically you paid that guy $360K for VIACOIN.
Although he did use some money to hire Peter Todd and continue to work on the coin. I think the only reason he is still around when most other altcoin devs have left, (besides the obvious reputation hit) is because he isnt depending on the price of VIACOIN. HE already had gotten the money from it, so right now he is like a kickstarter developer. All the money upfront, so he can stay and work in peace without having to worry about wtf2do and hype/pump the price.
Thats as clear answer as you will get. Drak wont come and say this with these words because he is more diplomatic in his aproach, but that is the general idea.
So bottom line, those 600BTC IPO funds, as soon as the IPO ended were his own money, not the project's money.
You gave him that lump sum of money and he can do as he pleases with it.
He obviously used some of that money to advance Viacoin, hire Peter Todd, and continue to work on various VIA related projects
He is continuing to work on VIA, aka he didnt leave the coin or bail from the project, and he will probably continue to spend as much money as he needs on various new things that will be needed
Thats all there is too it, and to be honest, i am not sure what else do you want Drak to say about this matter.
TL;DR
1) IPO money is drak's own personal money
2) IPO money is not exclusively VIACOIN project money although some money was spent on VIACOIN
3) Drak has a high developer hourly rate
4) There wont be any buybacks, give back the IPO money (there isnt any IPO money anymore, all the coins got sold a long time ago on the exchange, remember personal finances)
5) Drak has delivered on the tech part, so he cant be called a "scammer"
6) Technology has no relevance on Price. He doesnt care about the price, because he isnt invested in the financial part (because he already got paid from it, and if he was smart, he probably made a fuckton on the 2 rises upward + the zynga pump)
7) QQ more
Can we get another dump to 200 sats plz tnx
Basically when you bought the IPO, you bought the coins that DRAK was selling you. It was a presale, not a crowdfund or a fundraising or anything else. Basically you paid that guy $360K for VIACOIN.
Although he did use some money to hire Peter Todd and continue to work on the coin. I think the only reason he is still around when most other altcoin devs have left, (besides the obvious reputation hit) is because he isnt depending on the price of VIACOIN. HE already had gotten the money from it, so right now he is like a kickstarter developer. All the money upfront, so he can stay and work in peace without having to worry about wtf2do and hype/pump the price.
Thats as clear answer as you will get. Drak wont come and say this with these words because he is more diplomatic in his aproach, but that is the general idea.
So bottom line, those 600BTC IPO funds, as soon as the IPO ended were his own money, not the project's money.
You gave him that lump sum of money and he can do as he pleases with it.
He obviously used some of that money to advance Viacoin, hire Peter Todd, and continue to work on various VIA related projects
He is continuing to work on VIA, aka he didnt leave the coin or bail from the project, and he will probably continue to spend as much money as he needs on various new things that will be needed
Thats all there is too it, and to be honest, i am not sure what else do you want Drak to say about this matter.
TL;DR
1) IPO money is drak's own personal money
2) IPO money is not exclusively VIACOIN project money although some money was spent on VIACOIN
3) Drak has a high developer hourly rate
4) There wont be any buybacks, give back the IPO money (there isnt any IPO money anymore, all the coins got sold a long time ago on the exchange, remember personal finances)
5) Drak has delivered on the tech part, so he cant be called a "scammer"
6) Technology has no relevance on Price. He doesnt care about the price, because he isnt invested in the financial part (because he already got paid from it, and if he was smart, he probably made a fuckton on the 2 rises upward + the zynga pump)
7) QQ more
Can we get another dump to 200 sats plz tnxLink? And did he say this from the very beginning?
So is this a great time to make an entry? I always thought this coin had a nice future. At least enough to best ltc.
Maybe this time Masternode and his buddies can go away .
Like Drak already said, the IPO money is his own money. He never said he was going to use it for development or advancing the coin. He had the presale just because 1) he doesnt work for free and 2) he thought this is the only way to have a fair distribution of the coins.
Basically when you bought the IPO, you bought the coins that DRAK was selling you. It was a presale, not a crowdfund or a fundraising or anything else. Basically you paid that guy $360K for VIACOIN.
Although he did use some money to hire Peter Todd and continue to work on the coin. I think the only reason he is still around when most other altcoin devs have left, (besides the obvious reputation hit) is because he isnt depending on the price of VIACOIN. HE already had gotten the money from it, so right now he is like a kickstarter developer. All the money upfront, so he can stay and work in peace without having to worry about wtf2do and hype/pump the price.
Thats as clear answer as you will get. Drak wont come and say this with these words because he is more diplomatic in his aproach, but that is the general idea.
So bottom line, those 600BTC IPO funds, as soon as the IPO ended were his own money, not the project's money.
You gave him that lump sum of money and he can do as he pleases with it.
He obviously used some of that money to advance Viacoin, hire Peter Todd, and continue to work on various VIA related projects
He is continuing to work on VIA, aka he didnt leave the coin or bail from the project, and he will probably continue to spend as much money as he needs on various new things that will be needed
Thats all there is too it, and to be honest, i am not sure what else do you want Drak to say about this matter.
TL;DR
1) IPO money is drak's own personal money
2) IPO money is not exclusively VIACOIN project money although some money was spent on VIACOIN
3) Drak has a high developer hourly rate
4) There wont be any buybacks, give back the IPO money (there isnt any IPO money anymore, all the coins got sold a long time ago on the exchange, remember personal finances)
5) Drak has delivered on the tech part, so he cant be called a "scammer"
6) Technology has no relevance on Price. He doesnt care about the price, because he isnt invested in the financial part (because he already got paid from it, and if he was smart, he probably made a fuckton on the 2 rises upward + the zynga pump)
7) QQ more
Can we get another dump to 200 sats plz tnx
Basically when you bought the IPO, you bought the coins that DRAK was selling you. It was a presale, not a crowdfund or a fundraising or anything else. Basically you paid that guy $360K for VIACOIN.
Although he did use some money to hire Peter Todd and continue to work on the coin. I think the only reason he is still around when most other altcoin devs have left, (besides the obvious reputation hit) is because he isnt depending on the price of VIACOIN. HE already had gotten the money from it, so right now he is like a kickstarter developer. All the money upfront, so he can stay and work in peace without having to worry about wtf2do and hype/pump the price.
Thats as clear answer as you will get. Drak wont come and say this with these words because he is more diplomatic in his aproach, but that is the general idea.
So bottom line, those 600BTC IPO funds, as soon as the IPO ended were his own money, not the project's money.
You gave him that lump sum of money and he can do as he pleases with it.
He obviously used some of that money to advance Viacoin, hire Peter Todd, and continue to work on various VIA related projects
He is continuing to work on VIA, aka he didnt leave the coin or bail from the project, and he will probably continue to spend as much money as he needs on various new things that will be needed
Thats all there is too it, and to be honest, i am not sure what else do you want Drak to say about this matter.
TL;DR
1) IPO money is drak's own personal money
2) IPO money is not exclusively VIACOIN project money although some money was spent on VIACOIN
3) Drak has a high developer hourly rate
4) There wont be any buybacks, give back the IPO money (there isnt any IPO money anymore, all the coins got sold a long time ago on the exchange, remember personal finances)
5) Drak has delivered on the tech part, so he cant be called a "scammer"
6) Technology has no relevance on Price. He doesnt care about the price, because he isnt invested in the financial part (because he already got paid from it, and if he was smart, he probably made a fuckton on the 2 rises upward + the zynga pump)
7) QQ more
Can we get another dump to 200 sats plz tnx
VIA trying to stabilising for Digital Currency its truly hard but not impossible.... 
to be fair, Drak HAS been clear about the use of the XCH VIA. some time in the past week or so he mentioned that 1MM VIA are available to support projects. i do not know how many total VIA were "burned"/raised in the XCH
103,837,396.51 XCH were created for 1,087,511.79269591 VIA.
Read through the clearinghouse thread. https://bitcointalksearch.org/topic/ann-xch-clearinghouse-freedom-by-blockchain-734674
"This initialization process is called "burning", but since viacoins are new and shiny, we decided not to actually burn them, but use them towards funding the ClearingHouse project looking forward."
"Q: What happens to the viacoins that I do convert to XCH?
A: They go to fund future development of ClearingHouse."
It is clearly stated by btcdrak in that thread that these funds are to be used for development, so I hope these aren't the funds btcdrak is currently having such a difficult time answering questions about...
to be fair, Drak HAS been clear about the use of the XCH VIA. some time in the past week or so he mentioned that 1MM VIA are available to support projects. i do not know how many total VIA were "burned"/raised in the XCH launch.
the source of all the angst for the past few weeks concerns the original ICO funds of 600BTC. Drak has not provided a clear answer to the status / use of those funds. some people claim that he has provided an answer, but so far nobody has provided a link or quote etc.
i don't think he's going to answer the question, so i'm at the point now where i am accepting his non-answer as an answer of sorts.
Would it be a faux pas to request another dump like we had the other day?
nope, i've already set new knife buys
When this coin had its "burn" for clearinghouse which was really just a second IPO (lol one wasn't enough) for btcdrak since instead of the Via actually being destroyed (as they are supposed to be in a burn) they went into his pocket so that he could sell them for BTC for his own gain, it became pretty freaking obvious to me what was going on here. And it should be no surprise the price has plummeted since then... What, did people actually think he was just going to hold onto all the Via that was "burned" into his pocket?
It's funny, too, because I could have sworn I brought up this issue when the clearinghouse burn was starting and everybody stepped up to defend btcdrak claiming that he needed the additional funding to continue long-term development on the coin...
It's funny, too, because I could have sworn I brought up this issue when the clearinghouse burn was starting and everybody stepped up to defend btcdrak claiming that he needed the additional funding to continue long-term development on the coin...
Wait... Pardon me for my ignorance as I have started taking interest in VIA after the burn process to acquire XCH.
That said, can you post a link where it said that VIA holders should burn (actually send) their coins to a VIA address set up by Drak?
Read through the clearinghouse thread. https://bitcointalksearch.org/topic/ann-xch-clearinghouse-freedom-by-blockchain-734674
"This initialization process is called "burning", but since viacoins are new and shiny, we decided not to actually burn them, but use them towards funding the ClearingHouse project looking forward."
"Q: What happens to the viacoins that I do convert to XCH?
A: They go to fund future development of ClearingHouse."
It is clearly stated by btcdrak in that thread that these funds are to be used for development, so I hope these aren't the funds btcdrak is currently having such a difficult time answering questions about...
When this coin had its "burn" for clearinghouse which was really just a second IPO (lol one wasn't enough) for btcdrak since instead of the Via actually being destroyed (as they are supposed to be in a burn) they went into his pocket so that he could sell them for BTC for his own gain, it became pretty freaking obvious to me what was going on here. And it should be no surprise the price has plummeted since then... What, did people actually think he was just going to hold onto all the Via that was "burned" into his pocket?
It's funny, too, because I could have sworn I brought up this issue when the clearinghouse burn was starting and everybody stepped up to defend btcdrak claiming that he needed the additional funding to continue long-term development on the coin...
It's funny, too, because I could have sworn I brought up this issue when the clearinghouse burn was starting and everybody stepped up to defend btcdrak claiming that he needed the additional funding to continue long-term development on the coin...
Wait... Pardon me for my ignorance as I have started taking interest in VIA after the burn process to acquire XCH.
That said, can you post a link where it said that VIA holders should burn (actually send) their coins to a VIA address set up by Drak?
When this coin had its "burn" for clearinghouse which was really just a second IPO (lol one wasn't enough) for btcdrak since instead of the Via actually being destroyed (as they are supposed to be in a burn) they went into his pocket so that he could sell them for BTC for his own gain, it became pretty freaking obvious to me what was going on here. And it should be no surprise the price has plummeted since then... What, did people actually think he was just going to hold onto all the Via that was "burned" into his pocket?
It's funny, too, because I could have sworn I brought up this issue when the clearinghouse burn was starting and everybody stepped up to defend btcdrak claiming that he needed the additional funding to continue long-term development on the coin...
It's funny, too, because I could have sworn I brought up this issue when the clearinghouse burn was starting and everybody stepped up to defend btcdrak claiming that he needed the additional funding to continue long-term development on the coin...
Personally I also expected more. But now I would really like to know about future plans. Masternode and other people whose "calculus" failed, please stop repeating the same thing again and again.
Again, I'm not the one who raised 600+ btc in an ICO for advancing a coin. I really should not be the one answering questions here, but I did in order to move things along. On the other hand, I've made it real simple for Drak in the form of one question: What are the original ICO funds meant to be used for?
I have been here since day 1. To refresh my memory I had a look at the PRE-ANN thread. Actually - nobody wanted to know this. Only .... eh .. trolls? They were worried about drak's own investment in the presale. Didn't he buy some coins for free? He denied this. Only incidentally the question of the use of the funds was mentioned.
PilotofBTC (post 880):
Quote
"...If the BTC is all going into btcdrake's pocket, then his "investment" isn't that at all. It is just a ploy to raise the price of the coin and give him a share for free.
Now, if the BTC all goes into a fund for futured development, I guess it's not as much a big deal. however, I don't recall him saying anything about what happens to the investment BTC excepet that it goes into his pocket. $360,000 is no small amount of money.".
Now, if the BTC all goes into a fund for futured development, I guess it's not as much a big deal. however, I don't recall him saying anything about what happens to the investment BTC excepet that it goes into his pocket. $360,000 is no small amount of money.".
https://bitcointalk.org/index.php?topic=682186.860
Drak never promised to use the the funds to promote the coin. He never promised to keep them separately. He considered them to be his own. He never promised to be transparent. And nobody seemed to be worried about this. Everybody was thinking about future profits.
Masternode certainly was not worried and happily gave away his and his associate's money.
User Veritas:
Quote
The FACT is: the dev most likely "premined" coins via the presale (a lot of coins), but the exact amount, there is no way for me to know!
User masternode:
Quote
You simply don't understand the concept of reputation huh? It's like you give it no weight. Yes, the truth is he could do this, but it's very unlikely he did.
So let me explain how this works: The stronger a person's reputation is then obviously the less likely it is that what you say will actually happen. If someone has no reputation or a bad one (i.e. newbie account, self-moderated threads would be other flags) then it is most likely to happen.
So it's easy, next time just factor this into your calculus when deciding how much to invest.
So let me explain how this works: The stronger a person's reputation is then obviously the less likely it is that what you say will actually happen. If someone has no reputation or a bad one (i.e. newbie account, self-moderated threads would be other flags) then it is most likely to happen.
So it's easy, next time just factor this into your calculus when deciding how much to invest.
Would it be a faux pas to request another dump like we had the other day?
If anyone is london we should arrange a meet up for a pint one day
There is no Viacoin company, no exit for the developer with a sale of Viacoin shares. The value is in the coin which is linked to the blockchain. I really think most people don't understand that. The VIA price is a reflection of early stage technology on the cusp of adoption, like XAI.
Once one project goes live on Clearinghouse, thats the shift in value. This may take some time. Its best to help. If you can't wait then sell up and bother other people.
Plus I think its best if users not discussing useful aspects just leave this thread. This forum is meant for proper discussion on the tech and promotion.
Once one project goes live on Clearinghouse, thats the shift in value. This may take some time. Its best to help. If you can't wait then sell up and bother other people.
Plus I think its best if users not discussing useful aspects just leave this thread. This forum is meant for proper discussion on the tech and promotion.
You can't expect that from people who are mostly day traders and they believe only in money. They support cryptocurrencies because of the profit which can make, not because of the technology and such. Just be around (or in every other thread as well) when the price is declining and see what happens. Try doing it when people are asking for help or some contribution.
There is no Viacoin company, no exit for the developer with a sale of Viacoin shares. The value is in the coin which is linked to the blockchain. I really think most people don't understand that. The VIA price is a reflection of early stage technology on the cusp of adoption, like XAI.
Once one project goes live on Clearinghouse, thats the shift in value. This may take some time. Its best to help. If you can't wait then sell up and bother other people.
Plus I think its best if users not discussing useful aspects just leave this thread. This forum is meant for proper discussion on the tech and promotion.
Once one project goes live on Clearinghouse, thats the shift in value. This may take some time. Its best to help. If you can't wait then sell up and bother other people.
Plus I think its best if users not discussing useful aspects just leave this thread. This forum is meant for proper discussion on the tech and promotion.
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