Topic: [PRE-ANN][HVC] Heavycoin - Ultra-secure, Decentralized Block Reward Voting, Fast - page 70. (Read 140040 times)

I've started @HeavycoinNews on Twitter - http://twitter.com/heavycoinnews
I also believe that people with no special hardware should have a chance to "get in the game"!

They can't "invest" in their own IPO, transfering from one BTC address that you have to another BTC address that you also control you lose 0, hence they are taking 0 risk in "investing" in their own IPO.

All they are doing is diluting the premine share that the real investors are getting.

Lets say they get 100 BTC from real investors, each investor sent 1 BTC so everyone will get 1%, the dev keeps 0% of premine and 100 BTC from the investors.
Now the same investors send the same 100BTC but now the dev also "invests" 100BTC, now the real investors will only get 0.5% of the premine totaling 50% for them and 50% for the dev, this way the dev keeps 100BTC + 50% of the premine without really investing a dime.

Get it now?

Honestly I like the development capabilities, coin uniqueness, the site.. (download links that are NOT from mega/dropbox).. development feels legit.

But this IPO business.. feels a bit shady.  There's nothing stopping anyone from coming last minute and diluting everyone, and that person doesn't even have to be a real investor (could be devs themselves).    Rest of us can only assume that that 5m is premine, and gone from our reach.

IMO better off just setting a price and selling each share.. even if you sell it to yourself (as a reward for doing the development.. which is all fine), at least it won't scare off others from possibly investing in the IPO.  

As is, even if i wanted to put some BTC toward the IPO, there'd be no way i can tell if it will get massively diluted either from other real investors, or by 'fake' investors..

Doing an IPO this way, there's essentially no downside for devs investing in their own IPO.  They wouldn't get any less BTC.. just wait until the last minute, and take whatever % they want , for free.. (since btc goes to their own wallet anyways).

If you just sold the 5m at a set price.. then at least we know that even if you invest BTC yourself (which is valid thing to do).. you are essentially taking away incoming BTC from your own pocket that others might have invested.  But doing it the split share way, you could potentially not even have that downside.  Just claim whatever % you want.

20 BTC  Roll Eyes

Definitely not his own coins going to his own wallet to get the largest part of the premine.

 Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes

hesitate weather to invest some btc

Vote stuff is flawed. Can't see any reason for miners to vote for a lower block reward than max. those who invested possibly will not mine thus can not vote. With high diffs with less solo miners pools will have the vote option possibly.

I actually took a nap and thought about this.  From what I can tell so far (by looking at the posting history) the people who keep talking against this coin seem to do that for every coin.  One invested in pokercoin and ronpaulcoin.  Big winners there.]

My now, smaller portion is still good in my books.  I know the coin already has some base value.  I know SOMEONE is interested in it.  I don't buy that some devs would take all the time to develop a new coin (this coin does bring a few new things to the table) and then invest heavily with their own BTC...  Why would someone shoot their own coin in the foot? Makes no sense to me.  If it were a samecoin or clonecoin, I could def. see that being the case.  That's one of the BIG reasons why I decided and am going to take a chance with this coin.  It's not a samecoin or clonecoin.  I would rather give money to people trying to innovate and democratize than those who want to just copy and paste.

Anyways.  1BTC seems like a deal for anything I get.  Not many coins give people without hardware a chance to be 'in the game.' 

Awesome coin.  Seems like there's real developers behind it.  Also, I like the CPU only aspect!  We need more of these.

At the mo I'd get 238,095 HVC per BTC I invest?

Yeah, I saw the same thing happen with Duck, but that was all marketing. Heavycoin looks more interesting.

The same happened with DUCKDUCKCOIN. Probably some investor group:

https://blockchain.info/address/1FbHh4tzvHqEnwaESYpRjwH3ykYBb4Zkxr

Can't win them all.

That means that the pre-price of the coin totally depends on the last bet, which can be made by IPO starter for example, so it can dilute any minor participation.  

That also means you can only get 5m/21 coins as you invest 1BTC

Now you have 5,000,000/ 21! Congratualtion!

Clever boy. 

I am not—you are.
I am anxiously waiting to see your cryptanalysis of 64-round SHA256 published at http://eprint.iacr.org/eprint-bin/search.pl?last=31&title=1 very soon.

+1

So many apparent "enemies" so soon is actually a testiment to our IPO's success.  And we're only on day two!  It reminds me of similar "attacks" during the early days of a few other highly successful crypto-currencies.

This is discouraging, the OP didn't ask any of you to contribute to the IPO, if you didn't agree with the idea of the coin just don't invest in it. Not sure why everyone's blasting the owner for no real reason other than the crazy need to do so. I don't see a huge issue with premine either, a developer should be paid for his work.

Again, if you don't agree just don't invest, no one here owes you anything. Yeah someone sending 20BTC sounds weird, but I've seen people with so much BTC that it's not such a big deal anymore.

Couldn't have said it better myself.

To OP, you got to greedy and ruined your own IPO.

quoted for truth.