Topic: [ANN] XCloudcoin File hosting [Moved To New Thread] - page 3. (Read 36243 times)

The requirements are around delivery mainly.  Here is what is sent to any potential ICO participants:

1) We will code review before initially adding the wallet.
2) Then you will transfer the premine IPO coins to us. if there are premined coins that are not part of the ICO, this must be disclosed in your ANN
3) We run the ICO at whatever price you are looking for but we'd recommend a reasonable market cap.
4) After the ICO period ends, if there are remaining coins, we will destroy them and provide you an address to post
5) We will hold your BTC in escrow for 3 days.
a) Transfer coins to verify that the block chain functions properly.
b) You must have a block explorer available.
6) If that all works, we will give you access to the ICO account and the BTC. If any of the conditions fail, we will use the ICO funds to buy back and destroy all of the coins and you will forfeit the escrow fee.

Thanks,
Richie

I'm still waiting for the devs to answer my questions earlier about how is the coin used exactly in relation to their cloud services. As of right now, it looks mostly just as a way to provide funding... not sure what the coin is used for.

Huh....funny after how we start talking about the big buy orders below the ICO price they suddenly disappear.  Shady.

At the price per coin, this is going to be lucky to sell 10 BTC worth.  Even if this is turns out to be a good product asking for 300K up front is ridiculous. 

I am certain this is why you do not see this coin on POLONIEX. Good on poloniex.

There has been some mention of Bittrex using updated requirements in this thread. Is there any truth to that, and if so, what are those requirements? By a lack of mention just now by you, I will assume the ICO requirements are the same as always.

I will also take this opportunity to ask why isn't Bittrex using rules similar to Poloniex, which includes requiring the devs to prove their identity, and no giant lumpsum payouts with strict bookkeeping? The last several ICOs on Bittrex haven't even gotten off the ground for a reason.

Hi everyone,

Just as a reminder, we are providing an escrow for this coin development team.  While we are listing the ICO, we are not endorsing this coin or any others on our exchange.  Please use your own judgement before trading. 

The escrow terms are as follows:
At the end of the ICO, all of the unsold CLD coins get destroyed.
We will verify that coins transfer properly on the block chain using the public wallet source 
A public block explorer is available to verify that all coins are accounted for as stated in the ANN

If that all works, we provide the developers access to the ICO account and the BTC after a 3 day escrow period.  If any of the conditions fail, we use the ICO funds to buy back and destroy all of the coins.

Richie

just a bitcoin clone wallet, a storage website , a online wallet .  then the dev want 500btc.

I completely agree. I find it very odd that the only orders really about .1 are lumped together being sold at that same price.  Like I said before I hate making assumptions, but tread lightly.

True... just that if it is done too often, it kills the dev's own ICO, assuming people look at the order book at all. And that 4BTC order is bizarre, since it stands out so much. If a dev was going to go that route, it'd make more sense to do it slowly and smallscale, not large orders like that. That's what I meant, a large order like that is probably more a detriment than a benefit, at least looking at it from a bigger perspective.

Some general questions for the dev ...

Played around with the site a little bit, and it looks decent enough. But I have some questions (and apologies if they are dumb questions).

Is this similar to storj, where the blockchain is used for cloud storage? It looks more like a traditional cloud storage site, centralized, which you plan to fund via crypto. And if that is the case, what purpose does the coin serve exactly?

And the coin is purchasing the coin from... itself. So the developer is making money and losing NOTHING by selling to themselves. haha so even if they get half of what they want for the ICO that is still 150,000 USD!!!!!!!!!

Think about it.  If  the dev buys 1 BTC worth of coins, the coins go into his wallet and at the end of the ICO he gets that 1 BTC back.  So he gets the coins AND the 1 BTC in the end.  By selling the coins a little lower than the IPO, he gets the original 1 BTC back and whatever he sells the coins for as well and in this case it's very close to the ICO price, so in the end he gets his 1 BTC back AND the ~.98 BTC by selling the coins into his wallet, so free BTC.  This is why I hate ICO's on exchanges, the dev or dev team essentially could get their own coins for free if they felt so inclined.

There are always some sells below ICO prices for these sorts of things on Bittrex. They really should lock trading. Usually it's people who have a change of heart, and decide to take a minor loss on whatever they spent.

But that 4+ btc order is bizarre, I agree. I'm not sure the devs would be benefiting, however.

Devs could buy into their own ICO to sort of pretend there is interest in it, hence hopefully spurring on others to invest. In some cases, that is the only way for devs to get their own coin. But if they then put in a sell order below ICO prices, they are doing the opposite, as it shows there is little interest in the coin, and people are bailing. So I don't see how they would benefit by buying in, then selling below ICO prices, unless they figure people don't pay attention to order books at all.

There were 3 HUGE buys and one smaller buy all in a very short time span yesterday:

0.00010300   10000.00000000   1.03000000
0.00010300   20000.00000000   2.06000000
0.00010300   12200.00000000   1.25660000
0.00010300   1800.00000000   0.18540000

= 4.532 BTC

That huge order that went up just below IPO cost at .00010270 was:

0.00010270      85.47814767   0.00877860
0.00010270     1743.64575416   0.17907241
0.00010270   1.00000000           0.00010270
0.00010270   1.00000000           0.00010270
0.00010270   7.80000000           0.00080106
0.00010270   2.30000000           0.00023621
0.00010270   214.41071129   0.02201998
0.00010270   1.00000000           0.00010270

and

41943.36538688  4.3076   4.3076

=4.54 BTC

That's 81% of the total coins sold so far.  Why would anyone buy and then sell at a loss?  I hate making assumptions.......but the only incentive would be for the dev and friends to do this.  They get the money back anyways for the coins at the end of the IPO, so free coins, and by and putting it a lower price than the ICO, they pretty much double up on on the BTC in the end.....and it looks like there is more interest in the coin than there actually is.

Can anyone give a better explanation?  Like I said I hate making blind assumptions, but I really see no other reason for someone committing SO much money to this ICO and bailing at a loss less than 24 hours later......

Anyways, trade with caution.

Online wallet transaction

https://i.imgur.com/1ICwWmM.png

Right now what looks really shady is the fact that there are multiple sell orders on Bittrex when it is an ICO and buyer wallets are disabled.  Who is selling it at different prices and why?  They are listed the way morons list ridiculous prices (1BTC each) etc. to try and raise the price.  This should certainly not be happening for an ICO where the developer team are the only ones selling.

the most important thing:

The coin doesn't even provid any function.

bitcoin clone wallet + a website , then you want 500 btc , so crazy.

The test account is available to everyone at any time.

simple steps

1. go to our login page https://xcloudcoin.org/login/
2. type for user test for password testing

if you want your own user just send us a pm we are more then happy to send you an invite.

so I want test your cli wallet