Topic: Recruiting CTO/Co-Founder for Bitcoin sidechain project using Elements (Read 174 times)

You can read all the files here: https://lex.rbblab.com/rbb-vs-adl-ak-sequentia/

I'm curious - if what you say is true, why don't you stand behind your words?


Sounds like Theymos and OGNasty vs Vod.  Although they never seem to take it outside the forum, where proof is needed.   

Nobody will ever work for those two guys; a senior engineer would immediately understand that neither of them has any idea of what they want to do. They are just copying the project they were previously working on, knowing it worked, but with the goal of scamming investors. After two years, they still have no product, no team, no clear direction, and a load of legal issues. The only thing they are good at is lying. They are not even skilled criminals, as they got recorded while attempting to extort money from their previous employer.

First off, we do not have and have never had any investors in Sequentia.

The person commenting is none other than Enrico Rubboli, a former engineer at Bitfinex whose story (as confirmed by Paolo Ardoino, who liked the tweet) you can read here.

Enrico opened a company to build a project (Mintlayer) based on a bastardized early version of this sidechain design (created by my co-founder Alberto de Luigi), and I did indeed help him raise $18 million before discovering that he had no intention to build this sidechain, reporting my findings to his investors, and being kicked out of the project alongside Alberto.

In nearly 4 years, he has managed to spend a majority of these $18 million on luxury cars and homes, paid developers to waste almost 2 years trying to build it on Substrate, then declared it couldn't work, and had them work on making a re-branded fork of BlueWallet to show "progress", and since then has released a useless scam erc-20 (illegal security, promissory note for mainnet token), fired and re-hired a few different teams of developers and marketers a few times, and now has managed to create a cookiecutter blockchain on a new codebase, but still nothing related to the whitepaper / a bitcoin sidechain.

We've had a few volunteers try to start Sequentia github repos a few times - we've never claimed anywhere or to anyone that these people had done any significant work or that we have made any substantial progress in developing Sequentia. I can only imagine that Rubboli pointing at this is a classic case of projection, because he knows he can't justify the "progress" on Mintlayer's side.

He's also used this $18m 'treasure chest' to pay lawyers to troll the courts a few times with the allegations he mentions in his comment, and is currently appealing the Judge's ruling to dismiss these cases.

To anyone reading this, I can promise one thing: We have learned a lot from our unfortunate encounter with Rubboli, and we will not repeat the same mistakes.

Full story: https://www.albertodeluigi.com/2022/10/12/crypto-project-investors-money-lost-in-luxury-goods/

This is an investor who was screwed by Alberto de Luigi and Andreas Kohl in a project they were working on, the two guys are low-level criminals who are now raising funds to cover the legal costs of defending themselves in their legal battle.

They have no intention of building anything, check their repository and you'll clearly see that there has been fake activity for over a year, just trying to scam investors.

To make a long story short, they tried to extort 2 million from their former employee, then tried to copy the project to raise money from the same investors.  Stay away from them.
Here is what I know is just part of the legal problems they are facing:
https://lex.rbblab.com/rbb-vs-adl-ak-sequentia/

 The list of charges includes: attempted extortion, aggravated defamation, assault and battery, unauthorised access to a computer system, abusive interception of telecommunications and disclosure of a scientific or industrial secret, defamation, unfair competition, copyright infringement.

Proof: https://www.bloomberg.com/press-releases/2022-12-05/rbb-lab-uses-nft-to-serve-alberto-deluigi-and-andreas-kohl-summons

I remember those times.   Blockchain was new, and people developed actual projects.  Then it hit mainstream, and greed took over.   Now most projects are simply copycats.

There was a time when this would've been not just the best, but really one of the only places to find the type of person we're  looking for.

I was here during those times, and I still come back now and again. So I figure, maybe there's a chance some others still do as well. It's an extremely long shot, I know and stated this in my last post, but I wouldn't go so far as to say it's just pure desperation.

Definitely the worst which means that OP is desperate to look for one, I do not think it is even appropriate for you to look for that high position in this forum, this should only be a hub for services that are more on the low level positions. What you have recommended can definitely work, there is a lot of conferences that you can attend to if you want to expand your network although it depends on where you are from because the bitcoin scene might not be that big in your country or locality.

Yeah, I realise this and made this post without much expectation, but suffice it to say this isn't the only place we've published this.

Let me just tell you that forums are one of the worst places (after most social media sites) to look for candidates to fill high-profile executive positions, because almost nobody reading this is qualified for one.

You want to place this job position on a website, and ideally you should go to a meet-up of a Bitcoin conference and make your pitch there.

Do you need non-technical jobs? Like marketing or finance?

Right, that's what I initially thought you meant, and affirmatively answered with "we have a company with shares" - yes of course, it is registered with local government.

What I meant by "legal" was registered with your local government.   It can be a corporation, a partnership, or a project you are running under the table until it takes off.    The more organized you are, the more likely you are to attract investors.

Depends on what you mean by a legal framework; as I stated we have an entity and have done a fair bit of legal legwork to the extent that we can plan ahead for the project's growth - but at the moment we are just two people (my co-founder and I) within this legal structure, so take that as you will.

So you are just an indie startup with no legal framework yet?

We have a company with shares, internationally registered trademarks, legal opinions and contract templates drafted up, essentially everything in line to begin fundraising (specifically for a pre-seed SAFE round), but our priority at the moment is finding a lead engineer.

You mention you are looking for a CTO.   Are you a registered corp with shares, or just an indie startup?

We are looking for someone who would be able to lead the development of a Bitcoin sidechain project using Elements. This project, currently called “Sequentia”, is so far nothing more than a concept, which we’ve described in a whitepaper as well as a theoretical paper; both can be found here.

In a nutshell, the core idea behind Sequentia is a Bitcoin sidechain that is optimized for seamless cross-chain atomic and Lightning swaps with Bitcoin. The intended result is a UX that’s centered around a standard Bitcoin/LN wallet which can be expanded to include tokens issued on the sidechain, and facilitate peer-to-peer swaps between these and BTC by using DEX protocols and platforms; therefore never requiring a ‘representation’ (pegged derivative) of Bitcoin on the sidechain.

To achieve this, there are (broadly speaking) two important changes that need to be made to Elements compared to its implementation in Liquid:

• Anchoring. A consensus rule requiring every sidechain block to have a reference to a Bitcoin block at an equal or higher height than the Bitcoin block referenced by the previous sidechain block. This means that a reorg on Bitcoin would also cause a reorg on the sidechain, as sidechain blocks would be discarded whenever they contain a reference to an orphaned Bitcoin block.
• No Coin. There should be no specific transaction fee currency on the sidechain. Thus, users would be able to propose sidechain transactions to Block Signers with the fee expressed as any amount of any token issued on the sidechain. In the most common expected use cases, transaction fees on the sidechain would ideally paid as a fraction of the same asset(s) being transferred on the sidechain. For example, one could have a Sequentia wallet containing only USDT, and use it to perform a p2p swap to acquire BTC. Only in the case of more volatile or less liquid assets (for which Block Signers might have no/insufficient demand), would a user possibly need a second sidechain asset in their wallet in order to pay fees.

In addition to the aforementioned optimization for cross-chain swaps, one of our longer-term goals is to switch out of the Strong Federation consensus model entirely and replace it with a type of modified proof-of-stake mechanism, which we call an “open federation”. This mechanism would also leverage Bitcoin’s own consensus in order to maximize persistence/transaction finality (other than in the case of Bitcoin reorgs), although it would use a “governance token” to distribute membership in the Block Signing federation, which would nevertheless not make it a “coin”.

While there are important reasons why we feel that this is necessary in order to create the most robust sidechain possible (more on this here), we also recognise that it isn’t required for our MVP/Proof-of-Concept, as we believe Sequentia would still be of immense value even using a Strong Federation for block creation.

We do not currently have any funding. But we will guarantee very generous equity compensation to anyone able to contribute their time to the project, up to consideration for a position equal to the two current co-founders.

If you are interested, please email me at [email protected]