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Topic: IOTA Crowdsale - page 70. (Read 182701 times)

member
Activity: 60
Merit: 10
December 03, 2015, 05:41:57 PM

I agree with most of your points. But this is again directly tied to how many people got an incentive to make sure that it gets adopted in more places. For IOTA it is not meant to be used by merchants in stores. It's meant for machine-2-machine payment and real-time compensation, so the goal is to get it adopted as the standard IoT payment method. This will require several enthusiastic activists working together to achieve these goals, and in that case it is best to have a good distribution.




Although I think having a good community surrounding the project is very important, I don't think you can rely entirely on the community to promote adoption of the coin.

It looks like you'll end up raising a decent amount of funds, why not put some towards some dedicated marketing. Or even hire someone whose job is primarily sales. As in day-in day-out reaching out to the types of companies that could utilize this software and pitching them on iota.
sr. member
Activity: 288
Merit: 250
December 03, 2015, 05:34:42 PM
I know its a too vague question, just curious. Do you feel IOTA could be suitable for P2P betting?
legendary
Activity: 1666
Merit: 1020
expect(brain).toHaveBeenUsed()
December 03, 2015, 05:21:06 PM
I agree with most of your points. But this is again directly tied to how many people got an incentive to make sure that it gets adopted in more places. For IOTA it is not meant to be used by merchants in stores. It's meant for machine-2-machine payment and real-time compensation, so the goal is to get it adopted as the standard IoT payment method. This will require several enthusiastic activists working together to achieve these goals, and in that case it is best to have a good distribution.

I am afraid those activists will be only in the founding group. If they are not active noone will be...
But maybe we are lucky and find some IOTA Antonopoulos ;-)
hero member
Activity: 714
Merit: 500
December 03, 2015, 05:16:44 PM

A good distribution is nice, but its not the main point. I participated on many crowdsales and it was nearly always, that I got less in the crowdsale, than I could have gotten, if I bought it after release. Only ethereum brought a little more, but not really compared to the price of btc at that time and it seems like it could still reach lower points.
Sadly I didn't know about NXT early enough, although it didn't have a good distribution...  But now, as it IS distributed better: decline... decline... decline

This said, the main points are technology, marketing and most important: DIRECT usefulness. I am not talking of about features. No. Every person out there asks one simple question: Where can I pay with it. If you can't answer this, just forget it. Look at bitcoin.
At the beginning it was worth a shit! 10000 BTC for a pizza... maybe a market cap of 5000 - 10000?
Why? Noone knew about it? No, maybe not enough, but more important: Noone could USE it the way it was created for. To PAY! So it was useless! Regardless community!

And now all new coins think they can start just like bitcoin. The beginning is low and it will grow from itself and the rest will come. But that doesn't work.
Because - whether you wanted or not - you started a fight against BTC.

Maybe some BTC-Holder says: This coin is nice and has awesome features, I will buy it.
But that means, he will exchange a few of his BTC into that coin. Not Fiat, no! Only BTC (or maybe some other coins that are more useless at that time)!

And he will always have more trust in BTC, because he can use it on way more places. So he will only spend a fraction of his BTC.
And wether it will go up or down. Most of those guys will sell it sooner or later, because they feel more secure with the BTC, because they can spend it.

Thats why you can only succeed, if you make your coin being accepted on many places as well.

I agree with most of your points. But this is again directly tied to how many people got an incentive to make sure that it gets adopted in more places. For IOTA it is not meant to be used by merchants in stores. It's meant for machine-2-machine payment and real-time compensation, so the goal is to get it adopted as the standard IoT payment method. This will require several enthusiastic activists working together to achieve these goals, and in that case it is best to have a good distribution.

legendary
Activity: 1666
Merit: 1020
expect(brain).toHaveBeenUsed()
December 03, 2015, 04:58:16 PM
aaaand that's about the max that will be raised.  

I don't see many more buying now that the 15% incentive is gone.

Congratulations, everyone on the extra 15%.  Effectively everyone has 0% extra because we all cancel eachother out  Wink

Unless of course I'm wrong and a lot more is raised from here on out.

No, because if more money comes in, it dilutes your % of IOTA more than what you earn for that 15% extra. So being selfish, with less money for IOTA development, you will get more IOTAs if no one else buys anymore and the 15% extra is denied.

This glances over the most important variable: a healthy and self-sustaining community. We can develop the best technology in the universe and still have it fail if we don't get traction, as we've seen with millions of examples throughout history. So the more people who buy = more funding for development/growth of ecosystem and a more vital community, which in the long run will make the IOTAs infinitely more useful than if they are just scarce.

So, we just paid money for becoming community members?  Grin Grin Grin

Yes entrance fee to the exclusive group! Haha, no. But I think a lot people get too caught up in the numbers and fail to see the big picture. Sure owning a bigger % of something always seems the best, but if owning a big portion means that there are less people who care about the thing, then it's self-defeating. Liquidity and an active community is vital to organic growth. The IOTA community that we will run ( anyone is free to create their own, IOTA is 100% decentral ) will focus soley on growth of IOTA adoption and not discuss IOTA value from day to day at all, as that is just detrimental. Just look at nxtforum, which thread is most popular? Price speculation. When price speculation is more active than the enthusiasm in getting the project to be useful in the real world, then it's a sure sign of doom.

A good distribution is nice, but its not the main point. I participated on many crowdsales and it was nearly always, that I got less in the crowdsale, than I could have gotten, if I bought it after release. Only ethereum brought a little more, but not really compared to the price of btc at that time and it seems like it could still reach lower points.
Sadly I didn't know about NXT early enough, although it didn't have a good distribution...  But now, as it IS distributed better: decline... decline... decline

This said, the main points are technology, marketing and most important: DIRECT usefulness. I am not talking of about features. No. Every person out there asks one simple question: Where can I pay with it. If you can't answer this, just forget it. Look at bitcoin.
At the beginning it was worth a shit! 10000 BTC for a pizza... maybe a market cap of 5000 - 10000?
Why? Noone knew about it? No, maybe not enough, but more important: Noone could USE it the way it was created for. To PAY! So it was useless! Regardless community!

And now all new coins think they can start just like bitcoin. The beginning is low and it will grow from itself and the rest will come. But that doesn't work.
Because - whether you wanted or not - you started a fight against BTC.

Maybe some BTC-Holder says: This coin is nice and has awesome features, I will buy it.
But that means, he will exchange a few of his BTC into that coin. Not Fiat, no! Only BTC (or maybe some other coins that are more useless at that time)!

And he will always have more trust in BTC, because he can use it on way more places. So he will only spend a fraction of his BTC.
And wether it will go up or down (and mostly it went down). Most of those guys will sell it sooner or later, because they feel more secure with the BTC, because they can spend it.

Thats why you can only succeed, if you make your coin being accepted on many places as well.
But lets see, maybe I am completely wrong and with the next BTC-Rally everything will raise with it. But honestly I am doubting that...
hero member
Activity: 714
Merit: 500
December 03, 2015, 04:03:23 PM
aaaand that's about the max that will be raised. 

I don't see many more buying now that the 15% incentive is gone.

Congratulations, everyone on the extra 15%.  Effectively everyone has 0% extra because we all cancel eachother out  Wink

Unless of course I'm wrong and a lot more is raised from here on out.

No, because if more money comes in, it dilutes your % of IOTA more than what you earn for that 15% extra. So being selfish, with less money for IOTA development, you will get more IOTAs if no one else buys anymore and the 15% extra is denied.

This glances over the most important variable: a healthy and self-sustaining community. We can develop the best technology in the universe and still have it fail if we don't get traction, as we've seen with millions of examples throughout history. So the more people who buy = more funding for development/growth of ecosystem and a more vital community, which in the long run will make the IOTAs infinitely more useful than if they are just scarce.

So, we just paid money for becoming community members?  Grin Grin Grin

Yes entrance fee to the exclusive group! Haha, no. But I think a lot people get too caught up in the numbers and fail to see the big picture. Sure owning a bigger % of something always seems the best, but if owning a big portion means that there are less people who care about the thing, then it's self-defeating. Liquidity and an active community is vital to organic growth. The IOTA community that we will run ( anyone is free to create their own, IOTA is 100% decentral ) will focus soley on growth of IOTA adoption and not discuss IOTA value from day to day at all, as that is just detrimental. Just look at nxtforum, which thread is most popular? Price speculation. When price speculation is more active than the enthusiasm in getting the project to be useful in the real world, then it's a sure sign of doom.
legendary
Activity: 1162
Merit: 1005
December 03, 2015, 03:32:56 PM
aaaand that's about the max that will be raised. 

I don't see many more buying now that the 15% incentive is gone.

Congratulations, everyone on the extra 15%.  Effectively everyone has 0% extra because we all cancel eachother out  Wink

Unless of course I'm wrong and a lot more is raised from here on out.

No, because if more money comes in, it dilutes your % of IOTA more than what you earn for that 15% extra. So being selfish, with less money for IOTA development, you will get more IOTAs if no one else buys anymore and the 15% extra is denied.

This glances over the most important variable: a healthy and self-sustaining community. We can develop the best technology in the universe and still have it fail if we don't get traction, as we've seen with millions of examples throughout history. So the more people who buy = more funding for development/growth of ecosystem and a more vital community, which in the long run will make the IOTAs infinitely more useful than if they are just scarce.

So, we just paid money for becoming community members?  Grin Grin Grin
hero member
Activity: 714
Merit: 500
December 03, 2015, 03:10:32 PM
aaaand that's about the max that will be raised. 

I don't see many more buying now that the 15% incentive is gone.

Congratulations, everyone on the extra 15%.  Effectively everyone has 0% extra because we all cancel eachother out  Wink

Unless of course I'm wrong and a lot more is raised from here on out.

No, because if more money comes in, it dilutes your % of IOTA more than what you earn for that 15% extra. So being selfish, with less money for IOTA development, you will get more IOTAs if no one else buys anymore and the 15% extra is denied.

This glances over the most important variable: a healthy and self-sustaining community. We can develop the best technology in the universe and still have it fail if we don't get traction, as we've seen with millions of examples throughout history. So the more people who buy = more funding for development/growth of ecosystem and a more vital community, which in the long run will make the IOTAs infinitely more useful than if they are just scarce.
sr. member
Activity: 288
Merit: 250
December 03, 2015, 02:55:20 PM
aaaand that's about the max that will be raised. 

I don't see many more buying now that the 15% incentive is gone.

Congratulations, everyone on the extra 15%.  Effectively everyone has 0% extra because we all cancel eachother out  Wink

Unless of course I'm wrong and a lot more is raised from here on out.

No, because if more money comes in, it dilutes your % of IOTA more than what you earn for that 15% extra. So being selfish, with less money for IOTA development, you will get more IOTAs if no one else buys anymore and the 15% extra is denied.
legendary
Activity: 2156
Merit: 1131
December 03, 2015, 02:54:34 PM
je ne comprends pas si IOTA n est pas une crypto ? pourquoi ici?
 c'est juste une boite qui fait un logiciel et qui cherche à lever des fonds pour son développement
possible un bon logiciel mais j'ai l impression qu elle profite du lancement des cryptos et faire une levé de fond déguisé.
elle joue sur la confusion non?
En effet elle rémunérera sous forme de "jeton" j ai l impression que c'est juste des "actions"
je me trompe?

Ils ne peuvent pas appeler IOTA une cryptomonnaie et donner des parts pour des contraintes légales .
Les gens s'en foutent en général car les cryptos ne sortent jamais du forum mais il y a des choses que l'on ne devrait pas faire.
Tu n'as pas le droit de vendre des actions comme tu veux.

En gros ils font comme la vente des Ether de Ethereum :
"Ether is a product, NOT a security or investment offering. Ether is simply a token useful for paying transaction fees or building or purchasing decentralized application services on the Ethereum platform; it does not give you voting rights over anything, and we make no guarantees of its future value."
https://blog.ethereum.org/2014/07/22/launching-the-ether-sale/
sr. member
Activity: 317
Merit: 250
December 03, 2015, 02:27:59 PM
I think I messed up. When I read:

This means that you can not purchase via depositing directly from an account at an exchange or equivalent which often change the sender address repeatedly.

I went to my Poloniex account history and never saw my btc address being changed over the past months, so I assumed it was safe and Poloniex isnt an exchange that changes the btc address from time to time. But now it seems Poloniex use a different address themselves for transactions (seeing that on the blockchain). 1.32 btc down the drain?

Mistakes happen and we learn all the time.  I hope Your issue Wob will be solved positively - after all it's a matter of poloniex's stuff  good will.
Beeing in crypto for so long I know it's easy to mess up and we shouldn't be so rough for each other. Peace;)
hero member
Activity: 840
Merit: 500
December 03, 2015, 02:12:56 PM
je ne comprends pas si IOTA n est pas une crypto ? pourquoi ici?

 c'est juste une boite qui fait un logiciel et qui cherche à lever des fonds pour son développement

possible un bon logiciel mais j'ai l impression qu elle profite du lancement des cryptos et faire une levé de fond déguisé.

elle joue sur la confusion non?

En effet elle rémunérera sous forme de "jeton" j ai l impression que c'est juste des "actions"

je me trompe?

Nope.
newbie
Activity: 33
Merit: 0
December 03, 2015, 02:11:04 PM
je ne comprends pas si IOTA n est pas une crypto ? pourquoi ici?

 c'est juste une boite qui fait un logiciel et qui cherche à lever des fonds pour son développement

possible un bon logiciel mais j'ai l impression qu elle profite du lancement des cryptos et faire une levé de fond déguisé.

elle joue sur la confusion non?

En effet elle rémunérera sous forme de "jeton" j ai l impression que c'est juste des "actions"

je me trompe?
hero member
Activity: 840
Merit: 500
December 03, 2015, 02:04:10 PM
I think I messed up. When I read:

This means that you can not purchase via depositing directly from an account at an exchange or equivalent which often change the sender address repeatedly.

I went to my Poloniex account history and never saw my btc address being changed over the past months, so I assumed it was safe and Poloniex isnt an exchange that changes the btc address from time to time. But now it seems Poloniex use a different address themselves for transactions (seeing that on the blockchain). 1.32 btc down the drain?

Also, Polo is an exchange. That's EXACTLY what it is.
hero member
Activity: 840
Merit: 500
December 03, 2015, 02:01:57 PM
I think I messed up. When I read:

This means that you can not purchase via depositing directly from an account at an exchange or equivalent which often change the sender address repeatedly.

I went to my Poloniex account history and never saw my btc address being changed over the past months, so I assumed it was safe and Poloniex isnt an exchange that changes the btc address from time to time. But now it seems Poloniex use a different address themselves for transactions (seeing that on the blockchain). 1.32 btc down the drain?

Yes, that's why we read. The fact that your deposit address hasn't changes doesn't matter at all. Jezus people, why do we not read?
Wob
newbie
Activity: 32
Merit: 0
December 03, 2015, 02:01:30 PM
Thanks guys, I will contact them now.
legendary
Activity: 2142
Merit: 1010
Newbie
December 03, 2015, 01:58:39 PM
1.32 btc down the drain?

No, if the exchange agrees to send the 2nd transaction from the same address. They can also export the private key and hand it over to you.
rlh
hero member
Activity: 804
Merit: 1004
December 03, 2015, 01:41:21 PM
I think I messed up. When I read:

This means that you can not purchase via depositing directly from an account at an exchange or equivalent which often change the sender address repeatedly.

I went to my Poloniex account history and never saw my btc address being changed over the past months, so I assumed it was safe and Poloniex isnt an exchange that changes the btc address from time to time. But now it seems Poloniex use a different address themselves for transactions (seeing that on the blockchain). 1.32 btc down the drain?

I recommend contacting Polo, ASAP.  True, this isn't IOTAs nor Polos issue but assuming they have reasonable support, there is no reason why you can't ask them to open a support ticket and in a few weeks assist you in getting your funds.
hero member
Activity: 714
Merit: 500
December 03, 2015, 01:29:31 PM
Question: If I add to my original purchase from the same BTC address, will you calculate the % correctly? Aka. I don't have to worry about my entire purchase getting 7.5% or 0% if I add-on purchase from my original 15% purchase BTC address.

Yea, we separate those. So only the BTC sent after the 'pioneer period' will get less.
Wob
newbie
Activity: 32
Merit: 0
December 03, 2015, 01:28:01 PM
I think I messed up. When I read:

This means that you can not purchase via depositing directly from an account at an exchange or equivalent which often change the sender address repeatedly.

I went to my Poloniex account history and never saw my btc address being changed over the past months, so I assumed it was safe and Poloniex isnt an exchange that changes the btc address from time to time. But now it seems Poloniex use a different address themselves for transactions (seeing that on the blockchain). 1.32 btc down the drain?
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