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Topic: [XCR] Crypti | Dapps | Sidechains | Dapp Store | OPEN SOURCE | 100% own code | DPoS - page 550. (Read 804701 times)

hero member
Activity: 518
Merit: 500
Just as a topic of discussion in regards to the cap talk.

Would 2000 BTC be too much for most investors as a cap?

Are most of you thinking 1000 BTC?

Just wondering what everyone thinks a good cap is as we are having the same internal debate.
hero member
Activity: 518
Merit: 500
Hey Everyone!

Thank you for your interest and sticking with the Crypti team! It looks like the pre-sale so far is going great and we couldn't be happier. Our initial internal talks we wondered if we would even get the 150-250 BTC range required for the minimum developmental milestones, but the more we raise, the more developers we will be able to add to the team and the better Crypti will become.


Is this the stance you are taking with regards to the max cap?

EDIT : For the blog, why not just use Tumblr? Both Cryptsy and Dogecoin use it to good effect

It was just a motivational personal thought. I find it exciting thinking that we might be able to add 2-3 additional full time developers to help build out some of the features we had in mind. It will allow us to build out more and on a faster timeline.

The only reason I ask this is that the last thing we as investors want is an over diluted IPO like MaidSafeCoin, where investors already lost 1/4 of their investment. A max cap for the IPO would prevent this.

EDIT : I mentioned CoPay earlier today Wink

We are heavily weighing a cap right now.
legendary
Activity: 1806
Merit: 1001
Hey Everyone!

Thank you for your interest and sticking with the Crypti team! It looks like the pre-sale so far is going great and we couldn't be happier. Our initial internal talks we wondered if we would even get the 150-250 BTC range required for the minimum developmental milestones, but the more we raise, the more developers we will be able to add to the team and the better Crypti will become.


Is this the stance you are taking with regards to the max cap?

EDIT : For the blog, why not just use Tumblr? Both Cryptsy and Dogecoin use it to good effect

It was just a motivational personal thought. I find it exciting thinking that we might be able to add 2-3 additional full time developers to help build out some of the features we had in mind. It will allow us to build out more and on a faster timeline.

The only reason I ask this is that the last thing we as investors want is an over diluted IPO like MaidSafeCoin, where investors already lost 1/4 of their investment. A max cap for the IPO would prevent this.

EDIT : I mentioned CoPay earlier today Wink

F5 is my favorite button now ) Ready to invest and only wating for news about max IPO cap.
hero member
Activity: 546
Merit: 500
Hey Everyone!

Thank you for your interest and sticking with the Crypti team! It looks like the pre-sale so far is going great and we couldn't be happier. Our initial internal talks we wondered if we would even get the 150-250 BTC range required for the minimum developmental milestones, but the more we raise, the more developers we will be able to add to the team and the better Crypti will become.


Is this the stance you are taking with regards to the max cap?

EDIT : For the blog, why not just use Tumblr? Both Cryptsy and Dogecoin use it to good effect

It was just a motivational personal thought. I find it exciting thinking that we might be able to add 2-3 additional full time developers to help build out some of the features we had in mind. It will allow us to build out more and on a faster timeline.

The only reason I ask this is that the last thing we as investors want is an over diluted IPO like MaidSafeCoin, where investors already lost 1/4 of their investment. A max cap for the IPO would prevent this.

EDIT : I mentioned CoPay earlier today Wink
hero member
Activity: 518
Merit: 500
Whoever mentioned CoPay, I just checked it out. It looks really awesome! I am already a fan of bitpay and this looks like the best implementation of a multisig wallet yet. We will definitely be using something like this for the dev wallet and I think CoPay might well be the front runner now. Thanks!
hero member
Activity: 518
Merit: 500
Hey Everyone!

Thank you for your interest and sticking with the Crypti team! It looks like the pre-sale so far is going great and we couldn't be happier. Our initial internal talks we wondered if we would even get the 150-250 BTC range required for the minimum developmental milestones, but the more we raise, the more developers we will be able to add to the team and the better Crypti will become.


Is this the stance you are taking with regards to the max cap?

EDIT : For the blog, why not just use Tumblr? Both Cryptsy and Dogecoin use it to good effect

It was just a motivational personal thought. I find it exciting thinking that we might be able to add 2-3 additional full time developers to help build out some of the features we had in mind. It will allow us to build out more and on a faster timeline.
hero member
Activity: 840
Merit: 500
Risk taker & Black Swan farmer.
I appreciate the effort your whole team has put into organizing everything. It already looks better than most of the IPO's out there.

As stated before, my only concern is that while you have optimized most of the things fairly well, it seems an important piece is still missing from the IPO puzzle.

The dev team has agreed that 500 btc would cover the necessary requirements for the dev fund fairly well. However, given the situation, I expect Crypti to raise at least between 800-1000 btc. Now it seems obvious that there should be a point where because of too much investment Crypti will be over diluted and over priced, and it will certainly not be good if Crypti would reach that point starting from the IPO. Further more, I think the dev team interest along with the investors interest should be among the most important things to keep in mind while deciding the IPO rules.

That said, I'm not sure why the IPO is set to last one whole month. A better option would be to set a cap of lets say 1000 btc(or whatever reasonable sum you decide) or if the cap is not reached you have an open time limit of 1 month. The idea being that after 1000 btc(or whatever sum) the IPO will go against the best interest of its investors because of over pricing and over dilution. If this should happen, both the early investors and the late investors will suffer in the process. Maybe some kind of upper cap limit(2x-3x of what is actually needed for development) could be proposed and added to ensure a basic safety net for the investors who are looking forward to joining and contributing to the project.

Any thoughts on that?

Thanks for your suggestions, finishing the pre-sale once target hit or the period has ended is indeed an obvious solution that is worth considering and I will raise it to our discussion.

Thanks for taking this into account. With that done the only reasonable concern I had with this IPO will be removed. This would make the IPO even more attractive than it is.

Investors need to understand this is a very good thing. If a max cap for the IPO is put in place everything remains the same, it's just that we will not be subject to over pricing and over dilution. If the decided cap will be reached the project wins since it has achieved its goal but investors also win since the IPO is not allowed to go against the best interest of the project and its investors. As a result price continues to go up even past the IPO which in turn brings more demand, etc.
hero member
Activity: 700
Merit: 500
hero member
Activity: 546
Merit: 500
Hey Everyone!

Thank you for your interest and sticking with the Crypti team! It looks like the pre-sale so far is going great and we couldn't be happier. Our initial internal talks we wondered if we would even get the 150-250 BTC range required for the minimum developmental milestones, but the more we raise, the more developers we will be able to add to the team and the better Crypti will become.


Is this the stance you are taking with regards to the max cap?

EDIT : For the blog, why not just use Tumblr? Both Cryptsy and Dogecoin use it to good effect
hero member
Activity: 518
Merit: 500
Hey Everyone!

Thank you for your interest and sticking with the Crypti team! It looks like the pre-sale so far is going great and we couldn't be happier. Our initial internal talks we wondered if we would even get the 150-250 BTC range required for the minimum developmental milestones, but the more we raise, the more developers we will be able to add to the team and the better Crypti will become.

I know a lot of people have been asking about how the BTC will be managed post launch and I am hard at work on the detailed charter of the Foundation that will be responsible for Crypti's future development.

I would like to post the very very pre early super rough draft of the charter sometime tonight and get your feedback and ideas.

In order to do this and not overwhelm this thread, I am going to setup a personal blog on Blogger or Ghost (any suggestions? i'm testing both) where I can post the current charter as it stands and allow you guys to comment your ideas, critiques, and criticisms.

Stay tuned for a link later on today. I'll send it out on my twitter as well. I really want as much input as possible in regards to the Charter. The Crypti Foundation will be an organization built to serve the best interests of Crypti and therefore I want to ensure it is built with a guiding presence from the community it will support.

When I post the rough draft, remember that nothing is set in stone, the majority of the document will be up for debate, and everything written so far is simply from me and hasn't even been vetted or voted on by the current development team yet. These are just my early thoughts as I am designing the initial charter.
legendary
Activity: 1806
Merit: 1001
Devs may not deliver.

If they don't deliver...  don't send them the BTC.

Ok, they deliver but the product is a total crap that is hacked and has zero value a week after the launch.
hero member
Activity: 756
Merit: 502
Investor risk notice: More than 120BTC has been invested in Crypti on Bter.com. Invest with caution!
https://bter.com/trade/CRSALE_BTC
Edit:  Meaning...  why would you provide escrow services and then post a notice like that?!?!?   Shocked

Bter had to post this disclaimer, due to the high demand of the pre-sale.
legendary
Activity: 1806
Merit: 1001

WTF?!?   Huh

Investor risk notice: More than 120BTC has been invested in Crypti on Bter.com. Invest with caution!

https://bter.com/trade/CRSALE_BTC


Edit:  Meaning...  why would you provide escrow services and then post a message like that?!?!?   Shocked

Devs may not deliver.
hero member
Activity: 656
Merit: 500
I really think a pre-sale cap will suit investors, you don't want the IPO to become too diluted as no investor will profit out of it. Don't forget you will still have the 15% of the pre sale left for development,  so if you only need 500 BTC from the IPO why not put a cap on it?

EDIT : Don't forget some whale could single handedly drop over 500 BTC into this IPO and render our investments useless. This is the same problem Ethereum faced and they seem to be implementing a cap on their future IPO as well

The max total cap is currently under discussion.
There is a max cap per buyer of 2%, that is aimed to prevent the described whale behavior.
lol, so you still haven't decided it yet. This is just ... oh well, i guess it is a good thing to get it later than never.
hero member
Activity: 546
Merit: 500
hey im new to this ipo / pre sale thing. but what happend with maidsafe? investors lost money?

No, but they didn't profit either. Maidsafe gathered 5000 BTC, so there's no space for price growing. For example Qora IPO gathered ~140 BTC. Even at the price of 20 satoshi it's x15 from IPO price.

Exactly the point I was trying to make.
hero member
Activity: 546
Merit: 500
So the cap WAS raised?


That's an arbitrary amount, not really a cap.
hero member
Activity: 817
Merit: 1000
Truth is a consensus among neurons www.synereo.com
legendary
Activity: 1806
Merit: 1001
hey im new to this ipo / pre sale thing. but what happend with maidsafe? investors lost money?

No, but they didn't profit either. Maidsafe gathered 5000 BTC, so there's no space for price growing. For example Qora IPO gathered ~140 BTC. Even at the price of 20 satoshi it's x15 from IPO price.
full member
Activity: 147
Merit: 100
hey im new to this ipo / pre sale thing. but what happend with maidsafe? investors lost money?
legendary
Activity: 1098
Merit: 1000
Angel investor.
As potential investor I'm totally for a max cap. Otherwise it'll be another maidsafe. I didn't invest in maidsafe because I saw what was happening and I have no regrets.

+1
+1, me too, my reason
1. no cap
2. IPO via platform, no profit space for investors.
3. many guys in the community hate this coin
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