We need a simple way to exchange the token back to ETH for whitelisted people.
Those who wish to use the refund contract will get refunded, the rest will continue to profit from the coins.
Topic: COINDASH - Future of trading - Token Sale 17th July 2017 - page 26. (Read 198724 times)
Whitelisters will not receive a refund. I'm not sure why that's being mentioned. They paid for a token and they're going to get it. This hack does not affect them. CoinDash is even going as far as giving those who were scammed their tokens since it was their fault for having lax security on their website.
The only issue is that now the tokens will be devalued due to lack of faith in the project/developer, but to be fair there was never a promise of value in the tokens/ICO. You're buying on speculation that they'll be worth something and because you want to fund the project. If they turn out to be worthless, then you lost on that speculation.
If devaluing a token is the main issue to some then Bancor was also wrong to keep selling over their promised limit (increasing their market cap and ruining good-faith with participants in the ICO). If anything this hack would normally increase the value of CDT because the market cap will be around 6m rather than the originally planned 12m (meaning more room for profit for investors).
Once again the real issue is CoinDash earning our trust again somehow. If people have no faith in the project/devs then the tokens will become worthless. This is coming from someone who is $30,000 deep in this mess. I obviously want CoinDash to recover so I don't end up losing my investment. They have a LONG way to go to earn our respect/trust again though, especially considering the market is currently recovering today (most things are up 20% or more) and we're stuck sitting here wondering how much we're going to lose rather than gain...
The only issue is that now the tokens will be devalued due to lack of faith in the project/developer, but to be fair there was never a promise of value in the tokens/ICO. You're buying on speculation that they'll be worth something and because you want to fund the project. If they turn out to be worthless, then you lost on that speculation.
If devaluing a token is the main issue to some then Bancor was also wrong to keep selling over their promised limit (increasing their market cap and ruining good-faith with participants in the ICO). If anything this hack would normally increase the value of CDT because the market cap will be around 6m rather than the originally planned 12m (meaning more room for profit for investors).
Once again the real issue is CoinDash earning our trust again somehow. If people have no faith in the project/devs then the tokens will become worthless. This is coming from someone who is $30,000 deep in this mess. I obviously want CoinDash to recover so I don't end up losing my investment. They have a LONG way to go to earn our respect/trust again though, especially considering the market is currently recovering today (most things are up 20% or more) and we're stuck sitting here wondering how much we're going to lose rather than gain...
I don't know what measure will be taken, but one thing I'm sure: the measures to be taken should be general and not segmented between whtelisters and general investors.
Actually whitelisters and general public invested in different circumstances and got different outcomes so obviously they will be treated differently. Whitelisted people can easily recover their ETH and that is a must. Regular users got scammed badly but I can not Imagine why they sent ETH to the address without even checking if it is a contract on etherscan so this is kind of their fault too. Yes it was on official site. But so were the fake addresses on slac sent by slackbot which is an official channel and some people fell for this and some were smart enough to check.
To be fair to those who sent to the fake address. It was published on the official site and they didn't want to miss out on the ICO since many have sold out in minutes.
A solution that might still save this project is to offer 2 options for investors.
1. Offer refunds for those on the whitelist first and if there are remaining ETHs left, offer those who sent to the fake address.
2. Increase the amount of CDT for all those who want to keep their investments. Use the tokens that were refunded and give those who still
want to support the project an additional bonus.
The team may end up with zero ETHs from this and more CDTs, but if they truly believe in their own project and work hard for it's success, those additional CDT's will pay off. Look at projects like Stratis for example. Turned pennies into dollars.
This type of idea has some merit. Not sure about issuing additional CDT, but something along these lines could work.
People go to the casino and then they whine if for once they happen to loose...
Coindash's site was hacked, it happened also to Hillary Clinton who was or should have been protected by NSA or similar agencies.
No way devs would do such a idiotic scam - if they wanted to scam they'd have cashed the full cap + they'd have later dumped their coins at 10X on exchanges.
Shit happens, that's it.
Coindash's site was hacked, it happened also to Hillary Clinton who was or should have been protected by NSA or similar agencies.
No way devs would do such a idiotic scam - if they wanted to scam they'd have cashed the full cap + they'd have later dumped their coins at 10X on exchanges.
Shit happens, that's it.
Didn't invest saw what happened on my timeline. wow what a shit show.
You guys don't really belive alan is going to refund the whitelisted investor do you ?
Never and never he will do that.He wants money and not a dead project so he will do anything possible to keep your ETH in his pocket.
I never understood what you said, why people are talking about a refund, maybe this does not make sense for this project, but I see that it's all very convincing to be part of this COINDASH. Never and never he will do that.He wants money and not a dead project so he will do anything possible to keep your ETH in his pocket.
If they increase the amound of CDT the price will drops drastically...
Not increase the total amount of CDT, just increase the amount for investors. You do know the ICO was only for 50% of the total CDT. Dev's are holding onto the other 50% (500 million).
500 million x 0$ = 0$
You guys don't really belive alan is going to refund the whitelisted investor do you ?
Never and never he will do that.He wants money and not a dead project so he will do anything possible to keep your ETH in his pocket.
Never and never he will do that.He wants money and not a dead project so he will do anything possible to keep your ETH in his pocket.
Bancor did the exact thing - let anyone who wants get a refund. Only 8% people decided for the refund. Project survived and got credibilty boost. Same will be here. Only couple of bitcointalk panickers will decide to refund, rest will keep their coins because nothing changed for them regarding the tech of the project itself.
dont compare Bancor to this scam.. please. the conclusions people will come up with are not going to be based on if a refund took place or not.. but WHY.
How to verify I invested on which address on right address or hackers?
Is all participants have to fill the claim form that is like have a nightmare
Is all participants have to fill the claim form that is like have a nightmare
If they increase the amound of CDT the price will drops drastically...
Not increase the total amount of CDT, just increase the amount for investors. You do know the ICO was only for 50% of the total CDT. Dev's are holding onto the other 50% (500 million).
Not sure there is anyway out of this but this is what I think to be the best option:
1.) Offer anyone that sent ETH to the correct address the opportunity to send the tokens back for a full refund, or stay in the project
2.) Issue tokens to anyone that sent to scam address (unfortunately they don't have the ETH to let people opt out)
3.) See what that leaves them with net and reopen the difference to the 12 million cap though VERY unlikely they will raise much more, but depending on their messaging you never know.
4.) WORD THEIR @SSES off
1.) Offer anyone that sent ETH to the correct address the opportunity to send the tokens back for a full refund, or stay in the project
2.) Issue tokens to anyone that sent to scam address (unfortunately they don't have the ETH to let people opt out)
3.) See what that leaves them with net and reopen the difference to the 12 million cap though VERY unlikely they will raise much more, but depending on their messaging you never know.
4.) WORD THEIR @SSES off
If they increase the amound of CDT the price will drops drastically...
... that price, sir?
If they increase the amound of CDT the price will drops drastically...
Cant believe these people are so incompetent they could not even created a secure ico webpage.Now who is going to trust them?
I don't know what measure will be taken, but one thing I'm sure: the measures to be taken should be general and not segmented between whtelisters and general investors.
Actually whitelisters and general public invested in different circumstances and got different outcomes so obviously they will be treated differently. Whitelisted people can easily recover their ETH and that is a must. Regular users got scammed badly but I can not Imagine why they sent ETH to the address without even checking if it is a contract on etherscan so this is kind of their fault too. Yes it was on official site. But so were the fake addresses on slac sent by slackbot which is an official channel and some people fell for this and some were smart enough to check.
To be fair to those who sent to the fake address. It was published on the official site and they didn't want to miss out on the ICO since many have sold out in minutes.
A solution that might still save this project is to offer 2 options for investors.
1. Offer refunds for those on the whitelist first and if there are remaining ETHs left, offer those who sent to the fake address.
2. Increase the amount of CDT for all those who want to keep their investments. Use the tokens that were refunded and give those who still
want to support the project an additional bonus.
The team may end up with zero ETHs from this and more CDTs, but if they truly believe in their own project and work hard for it's success, those additional CDT's will pay off. Look at projects like Stratis for example. Turned pennies into dollars.
U legendary, then know this is .... BULLSHIT !
INTERPOL Jerusalem <--- easy.
I don't know what measure will be taken, but one thing I'm sure: the measures to be taken should be general and not segmented between whtelisters and general investors.
Actually whitelisters and general public invested in different circumstances and got different outcomes so obviously they will be treated differently. Whitelisted people can easily recover their ETH and that is a must. Regular users got scammed badly but I can not Imagine why they sent ETH to the address without even checking if it is a contract on etherscan so this is kind of their fault too. Yes it was on official site. But so were the fake addresses on slac sent by slackbot which is an official channel and some people fell for this and some were smart enough to check.
To be fair to those who sent to the fake address. It was published on the official site and they didn't want to miss out on the ICO since many have sold out in minutes.
A solution that might still save this project is to offer 2 options for investors.
1. Offer refunds for those on the whitelist first and if there are remaining ETHs left, offer those who sent to the fake address.
2. Increase the amount of CDT for all those who want to keep their investments. Use the tokens that were refunded and give those who still
want to support the project an additional bonus.
The team may end up with zero ETHs from this and more CDTs, but if they truly believe in their own project and work hard for it's success, those additional CDT's will pay off. Look at projects like Stratis for example. Turned pennies into dollars.
What's with the bounty campaign? Is it continues?
First we need to figure out if devs are scammers or legit. Waiting for the details of refund.
What's with the bounty campaign? Is it continues?
so i think 80k eth is not so difficult to raise you must consider the wales of the last moment..just one question the token unsold will be destroyed/burned or placed on market distributed on some exchange?
what do u think will a known scamer do?
he dont want to answer the question.. so u can be sure they will get dumped after the ico
If we wanted to scam you we would have done a 100 million USD cap and not just above 12.... Do you honestly believe this BS?
Any unsold tokens if there will be such, will be immediately transferred to the other 29% locked for a minimum of 1 year for further development and expenses budget.
"Any unsold tokens if there will be such, will be immediately transferred to the other 29% locked for a minimum of 1 year for further development and expenses budget."
LOOOOOOL.
Are you serious? Please tell me this is a troll!?!?
That's the getgems playbook right there. Tokens are simply unessecary for this kind if platform. They kept getgems pumped up until they dumped their 'development' stash too. Lol
Hi Alon you scumbag! Say hello to Daniel for me.
just to remember
You guys don't really belive alan is going to refund the whitelisted investor do you ?
Never and never he will do that.He wants money and not a dead project so he will do anything possible to keep your ETH in his pocket.
Never and never he will do that.He wants money and not a dead project so he will do anything possible to keep your ETH in his pocket.
Bancor did the exact thing - let anyone who wants get a refund. Only 8% people decided for the refund. Project survived and got credibilty boost. Same will be here. Only couple of bitcointalk panickers will decide to refund, rest will keep their coins because nothing changed for them regarding the tech of the project itself.
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