Topic: [ANN][BOUNTY] New Cryptocurrency Manx Fund - page 2. (Read 2838 times)
Personal Opinion: Not a great structure
Is this project dead? No updates have been posted here for a long time
I read it and concluded it is a bad idea ground up. I never made claims about your or Manx Funds goals, on the contrary I wished you and still wish you success in your venture.
"as soon as they realise the penatly system is involved" sorry but I do no think you get the project. The penalty is not something that is a little detail , it is the main concept. No one will first go in and then find out about it , everyone that is going to go in will be aware of it.
You also say that it will keep investors like you away (I guess you say this because you like making money with short time or long time trading) and it is the reason it exists. The investors who want to get in and wait without buying more should not buy Manx. You for example should not buy it , because while you might benefit from the currency you are not holding it for its functionality and therefore hurting the ecosystem. Investors like you speculate and make other people lose money in most of the cases. This is why Manx is here in the first place.
You also say that it will keep investors like you away (I guess you say this because you like making money with short time or long time trading) and it is the reason it exists. The investors who want to get in and wait without buying more should not buy Manx. You for example should not buy it , because while you might benefit from the currency you are not holding it for its functionality and therefore hurting the ecosystem. Investors like you speculate and make other people lose money in most of the cases. This is why Manx is here in the first place.
I bought thousands of XRP over 3 and half years ago and have no intention of selling them because the framework involved (and thankfully later Google invested) means there is something there worth keeping focus on and investing in.
If I were forced to increase my XRP or BTC or any other balances by 2% per every set period regardless of how they performed otherwise I would be penalised, is not a good model at all regardless of what else is or is not on offer.
I bought many coins years ago that failed,they are worthless now so if I was forced to buy in order to avoid penalties would actually be a disastrous model for the coin. Granted you think your coin will do great and shke up the crypto universe but let us say if it fails, ho will buy when they get dumped?
In my opinion your set up is fundamentally flawed and will fail sooner rather than later. In your opinion your set up is a great idea. Time will tell.
It is clear that you did not read the Whitepaper. It clearly states that the Manx is not trying to shake the crypto universe or trying to be the new "bitcoin" or "network". And this is stated at the very beginning of the whitepaper. It is also explained that paying %2 or getting penalized can be disastrous on it's own but it is regulated by the Manx Principle.
Sorry but I cannot consider your argument valid in this case because the argument you are defending has nothing to do with what Manx is.
The only way the Manx collapses is if there is no demand for it , if there is no demand for it that means people are not paying the %2. If they are not paying the %2 , the minority who pays the %2 will get bonus coins that are collected as penalty so Manx fund will be valuable again simply because if you pay %2 weekly you gain way more than that. And if people will start to pay their %2 weekly than the community price will decrease accordingly and the system will regulate itself. The whole process is explained in the whitepaper with equations.
So please read the whitepaper before you make claims about our goals next time.
"as soon as they realise the penatly system is involved" sorry but I do no think you get the project. The penalty is not something that is a little detail , it is the main concept. No one will first go in and then find out about it , everyone that is going to go in will be aware of it.
You also say that it will keep investors like you away (I guess you say this because you like making money with short time or long time trading) and it is the reason it exists. The investors who want to get in and wait without buying more should not buy Manx. You for example should not buy it , because while you might benefit from the currency you are not holding it for its functionality and therefore hurting the ecosystem. Investors like you speculate and make other people lose money in most of the cases. This is why Manx is here in the first place.
You also say that it will keep investors like you away (I guess you say this because you like making money with short time or long time trading) and it is the reason it exists. The investors who want to get in and wait without buying more should not buy Manx. You for example should not buy it , because while you might benefit from the currency you are not holding it for its functionality and therefore hurting the ecosystem. Investors like you speculate and make other people lose money in most of the cases. This is why Manx is here in the first place.
I bought thousands of XRP over 3 and half years ago and have no intention of selling them because the framework involved (and thankfully later Google invested) means there is something there worth keeping focus on and investing in.
If I were forced to increase my XRP or BTC or any other balances by 2% per every set period regardless of how they performed otherwise I would be penalised, is not a good model at all regardless of what else is or is not on offer.
I bought many coins years ago that failed,they are worthless now so if I was forced to buy in order to avoid penalties would actually be a disastrous model for the coin. Granted you think your coin will do great and shke up the crypto universe but let us say if it fails, ho will buy when they get dumped?
In my opinion your set up is fundamentally flawed and will fail sooner rather than later. In your opinion your set up is a great idea. Time will tell.
I answered your question previously but I think you did not see it , the idea of Manx is really different than any other pre-mined (or not) coin. Every Manx Fund holder has to keep investing %2 of what they have on top of their funds to
1) not get a penalty
2) create new tokens with Proof of Loyalty
3) collect community prize
4) get theirs ranks and Manx size greater.
You just have to read the Whitepaper to know what all these mean. Manx is a mechanism that will work , however it is hard to explain briefly.
1) not get a penalty
2) create new tokens with Proof of Loyalty
3) collect community prize
4) get theirs ranks and Manx size greater.
You just have to read the Whitepaper to know what all these mean. Manx is a mechanism that will work , however it is hard to explain briefly.
You directed me to the white paper instead of answering me but having said that, thank you. I checked it and it does seem in theory 'niche'. The fact coin holders will have to top up with 2% of their balance otherwise they will be penalised is scandalous in my opinion.
The way I see it, the penalty system will keep potential investors like me away both pre-IPO and post-IPO.
I also think it will force investors who were gullible enough to obtain them to get rid of them as soon as they realise the penalty system involved. That is my opinion but it does not mean I do not wish you success. I wish you prove me wrong and your coin is a success.
"as soon as they realise the penatly system is involved" sorry but I do no think you get the project. The penalty is not something that is a little detail , it is the main concept. No one will first go in and then find out about it , everyone that is going to go in will be aware of it.
You also say that it will keep investors like you away (I guess you say this because you like making money with short time or long time trading) and it is the reason it exists. The investors who want to get in and wait without buying more should not buy Manx. You for example should not buy it , because while you might benefit from the currency you are not holding it for its functionality and therefore hurting the ecosystem. Investors like you speculate and make other people lose money in most of the cases. This is why Manx is here in the first place.
I answered your question previously but I think you did not see it , the idea of Manx is really different than any other pre-mined (or not) coin. Every Manx Fund holder has to keep investing %2 of what they have on top of their funds to
1) not get a penalty
2) create new tokens with Proof of Loyalty
3) collect community prize
4) get theirs ranks and Manx size greater.
You just have to read the Whitepaper to know what all these mean. Manx is a mechanism that will work , however it is hard to explain briefly.
1) not get a penalty
2) create new tokens with Proof of Loyalty
3) collect community prize
4) get theirs ranks and Manx size greater.
You just have to read the Whitepaper to know what all these mean. Manx is a mechanism that will work , however it is hard to explain briefly.
You directed me to the white paper instead of answering me but having said that, thank you. I checked it and it does seem in theory 'niche'. The fact coin holders will have to top up with 2% of their balance otherwise they will be penalised is scandalous in my opinion.
The way I see it, the penalty system will keep potential investors like me away both pre-IPO and post-IPO.
I also think it will force investors who were gullible enough to obtain them to get rid of them as soon as they realise the penalty system involved. That is my opinion but it does not mean I do not wish you success. I wish you prove me wrong and your coin is a success.
Everyone likes to get bounty, but back to the developer, is the coin acceptable to the community after ICO? Can compete with others?
I already asked this question to the Project Manager (p4ntos) but did not receive a response: Please give your views on why people should invest in any pre-mined project and why they should invest in this one over so many others that have been announced
I answered your question previously but I think you did not see it , the idea of Manx is really different than any other pre-mined (or not) coin. Every Manx Fund holder has to keep investing %2 of what they have on top of their funds to
1) not get a penalty
2) create new tokens with Proof of Loyalty
3) collect community prize
4) get theirs ranks and Manx size greater.
You just have to read the Whitepaper to know what all these mean. Manx is a mechanism that will work , however it is hard to explain briefly.
Everyone likes to get bounty, but back to the developer, is the coin acceptable to the community after ICO? Can compete with others?
I already asked this question to the Project Manager (p4ntos) but did not receive a response: Please give your views on why people should invest in any pre-mined project and why they should invest in this one over so many others that have been announced
Everyone likes to get bounty, but back to the developer, is the coin acceptable to the community after ICO? Can compete with others?
It definitely will be available to the community. Just like any other coin.
Everyone likes to get bounty, but back to the developer, is the coin acceptable to the community after ICO? Can compete with others?
Sorry, it's my mistake, you can click it again. Now, This project has just started, we do not have much about it. We are looking for talented people to develop our project. If you are interested in this project, and you have the ability to contribute to it. Join us.
Thank you for the offer but I will not be investing. From what information has been released I see nothing that makes me believe this will succeed in such a saturated market. I wish you success.
Everything we offer is in the whitepaper. It is all about the mechanism , I suggest you read it.
Sorry, it's my mistake, you can click it again. Now, This project has just started, we do not have much about it. We are looking for talented people to develop our project. If you are interested in this project, and you have the ability to contribute to it. Join us.
Thank you for the offer but I will not be investing. From what information has been released I see nothing that makes me believe this will succeed in such a saturated market. I wish you success.
I have been through their project, and I am enjoying it, I feel it is very potential, I am very impressed with the OP idea and his presentation. So, I'm involved in this project as a manager. And we are all waiting for the talented developers for this project. Anyone interested in this project, please join us here or discuss with us.
I clicked the link to bnktothefuture but did not see your project there. As you are project manager I wish you success.
Please give your views on why people should invest in any pre-mined project and why they should invest in this one over so many others that have been announced. Thank you.
Sorry, it's my mistake, you can click it again. Now, This project has just started, we do not have much about it. We are looking for talented people to develop our project. If you are interested in this project, and you have the ability to contribute to it. Join us.
I have been through their project, and I am enjoying it, I feel it is very potential, I am very impressed with the OP idea and his presentation. So, I'm involved in this project as a manager. And we are all waiting for the talented developers for this project. Anyone interested in this project, please join us here or discuss with us.
I clicked the link to bnktothefuture but did not see your project there. As you are project manager I wish you success.
Please give your views on why people should invest in any pre-mined project and why they should invest in this one over so many others that have been announced. Thank you.
I have been through their project, and I am enjoying it, I feel it is very potential, I am very impressed with the OP idea and his presentation. So, I'm involved in this project as a manager. And we are all waiting for the talented developers for this project. Anyone interested in this project, please join us here or discuss with us.
It will not be anything like others tho , because the %51 will be held by several hundread people before they were even sold , and they will acquire it by supporting the cause. Anyone is allowed to get in on this point.
I think the issue of 51% of coins being pre-mined means people will be put off. Knowing the owner of the coin and some others will have more than half of all coins before launch means this is going back to the days of several years ago when pre-mined coins were popping up left, right and centre.
Since we are at the very beginning and this is a project that is meant to be community backed. Developer share is dropped to %40. Whitepaper will be changed accordingly too.
It will not be anything like others tho , because the %51 will be held by several hundread people before they were even sold , and they will acquire it by supporting the cause. Anyone is allowed to get in on this point.
I think the issue of 51% of coins being pre-mined means people will be put off. Knowing the owner of the coin and some others will have more than half of all coins before launch means this is going back to the days of several years ago when pre-mined coins were popping up left, right and centre.
The project will start with %51 of the coins. I only claim %5 of these coins and the rest will be distributed along the way
I am not sure how many people would consider giving any time or effort to this coin. Surely pre-mining is the most unattractive feature of all investment possibilities.
It will not be anything like others tho , because the %51 will be held by several hundread people before they were even sold , and they will acquire it by supporting the cause. Anyone is allowed to get in on this point.
The project will start with %51 of the coins. I only claim %5 of these coins and the rest will be distributed along the way
I am not sure how many people would consider giving any time or effort to this coin. Surely pre-mining is the most unattractive feature of all investment possibilities.
Jump to: