Topic: [XCR] Crypti | Dapps | Sidechains | Dapp Store | OPEN SOURCE | 100% own code | DPoS - page 570. (Read 804701 times)

I think the last I saw was that dgex would be ready at the earliest at 8 on GMT today. I will defer to SyRenity on specifics if we will be 100% ready then but we will let you know soon.

Lol looks that way dude.

Actually, the coin does not earn interest based on stake in the currency. It rewards users for running the network nodes which power the Crypti network. In essence, all transaction fees are being awarded for network generation time. This is a completely different implementation and argument.

Besides, the U.S. government has already declared that Bitcoin and other Crypto Coins are to be considered property and not follow typical financial regulation laws.

To start out, I don't think the necessary time for a good distribution of this project is left.

To have a really good distribution a lot of work has to be invested into the process. NEM is a good direction to start looking, but they have considerable problems as well.

In any case, to ensure as little possible rulebreakers enter the boat, a multitude of measures are needed.

Things like registering on a website provided by you, gathering IPs, geolocations, blocking tor and surely a lot more.

In the end you can never be sure to filter out everyone going against the rules, but you can make sure whoever tries will have a hell of a lot of work getting past the security measures.

Meticulous sockpuppet removal should always be seen as a long term investment in the project.

@Vega
Actually, some POS schemes pay interest. New coins are created on the basis of coins you already own.

PoS coins do no earn interest. None.
What (potentially) earns you coin if you secure the network. To secure the network you have to have coin.
There is no new coin introduced to the system, the already existing ones only get suffled around.

I'm afraid the only place this resembles a behavior of a bond is in your head.

Your interpretation is based on assumptions which don't seem to be true.

I havn't seen any point where crypti is stating to be an inflationary crypto.

If the scheme is similar to NXT, only transaction fees are redistributed. There is no jurisdiction which equals the earning of transaction fees with interest.

This is something we have thought about long and hard and really don't have a solid answer to. I would love to hear your thoughts on a better way to manage investors. If we limit the max investment per person, and total investment we could get 3 or 4 investors who make sock puppet accounts and invest enough to get large percentages on day 1, cutting out a number of later investors and holding huge proportions of the initial stake. I think setting a total cap allows for a few heavy buyers to buy up the entire supply early on and ultimately limits how many people can participate.

If we don't cap, we can't gauge what the distribution will look like, but as many of you have mentioned, if there is a fear of the price initially dipping and no immediate profits on the exchanges, it's possible some of those investors who thought to buy and dump a ton, knowing they might lose money, will invest less or stay away to an extent.

I feel like its a slippery slope and a tough model to design and all launches are experiments and tests for future launches to maybe come up with a better method. At this point, we have come to a consensus where we are and I feel like it is getting too late in the game to change the numbers.

That being said, it's always something good to talk about and continue to evolve so I would love to hear your ideas.

You misunderstood me. I was not questioning the security of POS in general or Crypti in particular.
I just wanted to feed the troll

Proof of work is not a financial instrument.  Proof of stake means the holder gets paid additional stake for holding.  Same as in a savings account.  

The fact that this is a cryptocoin does not make any difference.  It is a negotiable item, which earns interest, and is being sold by unregistered persons.  It is no different than buying a bond.  

No, PoS secure is very well. If you want to test, send me your test passphrase. I will invite you.

100 million at genesis. The calculation was based on the fact that 75% was being sold to the community. So basically, each coin at 250 BTC was worth 250 satoshis (you cant only count 75 or 80 of the stake - the price at IPO will set the price for all 100% of the coin).

So, coins that have mining involved are no financial security?

100% POS. It's in the topic subject... (and a million other places)

I did, but I assumed that there would be mining after the IPO since you mentioned that only the GENESIS block was for sale in the IPO, and that 100 Million coins were the total.  Your OP was not clear that the GENESIS block is the ONLY block

Say it to Nxt, Qora and etc. You are funny.

All the time you criticized us, but you do not even know Crypti is PoS.

AH Yes.... Now it all becomes clear.  You guys are not setting up another CryptoCoin to be mined and created by miners POW, you are selling COINS that you created out of thin air.

Since these coins are negotiable, and earn interest over time (POS payments) you are actually selling a financial security.  

If you are not registered with the US SEC to do this in the US, you are committing a felony in the US.  

There are also laws to require registration for selling securities in Russia and EU.  

Anybody that would buy these unregistered securities would be a fool.

Of course it is unlikely that the 10% mark will be hit, as it is obvious DGEX wants as much BTC invested as possible.
They will suggest a mark that is so high it is very unlikely it will be hit. That way, the maximum amount of invested BTC from every single person can be guaranteed.

And 6% of all coins in the hands of a single investor is a ticking time bomb already.
NXT had and has to face accusations of bad distribution and their top account only held 5% of everyting.

You do have a point and one we had to consider. As per the OP I think the DGEX commission they have set is 3% of funds managed. So there most certainly is a self interest in raising a large amount of funds. That being said, as I just mentioned in another comment, I don't think anyone will hit the 10% mark and the previous high they saw was 6% from one investor.

Edit to Add: As per a later comment by GCInc, the 10% actually came as an example of the amount FIMK used and wasn't a recommendation from DGEX.

DGEX mentioned that with their last launch, even with the 10% max per investor cap, the highest investor ended up only buying 6%. They will accept all funds for the entire launch and escrow them. If at the end of the pre-sale, one member has invested an amount that equals more than 10% of the total raised, the amount over 10% will be sent back to that owner. This was decided after much discussion with the DGEX team and I honestly don't personally think anyone will hit close to the 10% mark once all is said and done.