Topic: [XCR] Crypti | Dapps | Sidechains | Dapp Store | OPEN SOURCE | 100% own code | DPoS - page 572. (Read 804701 times)
July 07, 2014, 03:35:06 AM
Fixed error with Crypti allocation in OP post.
July 07, 2014, 03:24:27 AM
And then the whole point was never this:
"15% + 0 - 10% (sliding scale, depending on amount of raised funds) of the genesis block will be allocated to the initial buyer, the creator and lead developer of the project, and the Crypti team, to ensure post-launch development of Crypti. These Crypti amounts will be released on a vested schedule, and kept in a public account so all transactions can be monitored."
Rather that if, a big if, there was any development money raised, it will be managed by the community.
So lets see, first you said "managed by community" then changed it to "public account with monitored transaction". Yeah thats totally not doublespeak.
Edit: Now I see you are using "managed by community/foundation" with "All funds will be stored on our BTC account, we will post reports every month." interchangeably. Do you seriously think thats the same thing?
"15% + 0 - 10% (sliding scale, depending on amount of raised funds) of the genesis block will be allocated to the initial buyer, the creator and lead developer of the project, and the Crypti team, to ensure post-launch development of Crypti. These Crypti amounts will be released on a vested schedule, and kept in a public account so all transactions can be monitored."
Rather that if, a big if, there was any development money raised, it will be managed by the community.
So lets see, first you said "managed by community" then changed it to "public account with monitored transaction". Yeah thats totally not doublespeak.
Edit: Now I see you are using "managed by community/foundation" with "All funds will be stored on our BTC account, we will post reports every month." interchangeably. Do you seriously think thats the same thing?
You have a point there, I indeed missed this part with the discussions we done and changes we made. The 0%-10% have been intended from the start to be used as a payment to developers, which now has been modified to be interchangeable with the raised BTC. Thanks for noticing this, we will update the OP.
As per your remark regarding the funds management, we said from the start that funds will be managed by Foundation, which will include members of Crypti team and the community working together. The remaining Crypti % and raised BTC funds used for Crypti team funding, will be indeed stored in a publicly accessible account, so everyone could monitor it and see where the Crypti / BTC are being spent. If there was some inconsistency of this with what we have communicated in past, I apologize for that.
July 07, 2014, 02:53:24 AM
This was just before the initial distribution. While it was later corrected by SyRenity to reflect the OP; now we have ended up with the same distribution (up to 25% premine for the guys). Now, IMO this amounts to double speak and constant moving goalpost by the team. So I am outta here.
Can you point me where we ever double-spoke? The announcement from the start included 15% + 10% for the team, however following community requests we have made the following changes:
* 10% is a sliding scale, exchanging Crypti % for raised BTC (like company trading equity for more funds)
* All Crypti % are being vested and controlled by the Foundation (which includes members of the community)
And of course, all raised BTC are being controlled by the Foundation.
I personally unable to see how this considered a pre-mine, considering it's in community interest to give motivation to Crypti team to keep working and advance the tech further.
Again, think of it as a start-up business that you considering the invest, do you really think that initial investor and the team that took the risk and self-funded themselves up to this moment, do not deserve 15%-25% (pending how much they raise), which is also released to them on a vested schedule?
From me:
15% premine?
the premine is too damn high. Especially when you consider the fact that there will be an IPO. Seems like devs are really greedy.Premine should only be an option if IPO won't reach any significant amount. I don't see why devs should be rewarded twice, plus the possibility of dumping puts the whole project at jeopardy.
No matter how good the intentions of devs are, such a significant premine will put off any sensible investor and cause a lot of FUD in community.
As it was both written in the OP and explained several times, the raised funds will be transparently managed by the foundation, consisting from both the launch team members and the community members. The developers and the original investor will only receive 15% + 0%-10% (based on the raised amount), as compensation for their risks and hard work, and as motivation to keep working and advancing the Crypti protocol.
here's what you said afterwards:
Wait, what?! From what I understood from OP and Grexx was that 0-10% was earmarked for development purposes going ahead and managed by the community and not "received" by anyone.
Correct, my mistake (fixed in post above).
And then the whole point was never this:
"15% + 0 - 10% (sliding scale, depending on amount of raised funds) of the genesis block will be allocated to the initial buyer, the creator and lead developer of the project, and the Crypti team, to ensure post-launch development of Crypti. These Crypti amounts will be released on a vested schedule, and kept in a public account so all transactions can be monitored."
Rather that if, a big if, there was any development money raised, it will be managed by the community.
So lets see, first you said "managed by community" then changed it to "public account with monitored transaction". Yeah thats totally not doublespeak.
Edit: Now I see you are using "managed by community/foundation" with "All funds will be stored on our BTC account, we will post reports every month." interchangeably. Do you seriously think thats the same thing? Well then all I can say good luck to anyone who invests in this. We will talk after 6 mths.
July 07, 2014, 02:46:39 AM
This was just before the initial distribution. While it was later corrected by SyRenity to reflect the OP; now we have ended up with the same distribution (up to 25% premine for the guys). Now, IMO this amounts to double speak and constant moving goalpost by the team. So I am outta here.
Can you point me where we ever double-spoke? The announcement from the start included 15% + 10% for the team, however following community requests we have made the following changes:
* 10% is a sliding scale, exchanging Crypti % for raised BTC (like company trading equity for more funds)
* All Crypti % are being vested and controlled by the Foundation (which includes members of the community)
And of course, all raised BTC are being controlled by the Foundation.
I personally unable to see how this considered a pre-mine, considering it's in community interest to give motivation to Crypti team to keep working and advance the tech further.
Again, think of it as a start-up business that you considering the invest, do you really think that initial investor and the team that took the risk and self-funded themselves up to this moment, do not deserve 15%-25% (pending how much they raise), which is also released to them on a vested schedule?
July 07, 2014, 02:40:30 AM
dude where do i send my bitcoins to?! i need to invest in ipo! seriously!
and i need to know how much is invested so far. transparency of the total investment would be good.
and i need to know how much is invested so far. transparency of the total investment would be good.
There will be a public ledger, showing how much BTC were invested from each (partially obscured) BTC address, and the estimated amount of Crypti this address will get.
July 07, 2014, 02:38:25 AM
dude where do i send my bitcoins to?! i need to invest in ipo! seriously!
and i need to know how much is invested so far. transparency of the total investment would be good.
and i need to know how much is invested so far. transparency of the total investment would be good.
There will be a public ledger, showing how much BTC were invested from each (partially obscured) BTC address, and the estimated amount of Crypti this address will get.
July 07, 2014, 02:37:27 AM
Dgex will accept NXT or BTC for the IPO?
You will be able to easy convert NXT to BTC on Dgex.
July 07, 2014, 02:32:20 AM
i dont think used degx exchange is good idea.
all what i see is dev team wanna make money but not protect investors'benefits
i dont wanna invest this coin sorry
all what i see is dev team wanna make money but not protect investors'benefits
i dont wanna invest this coin sorry
July 07, 2014, 02:17:03 AM
your saying that this is all new source. but it looks so similar to nxt.
can you explain this.
right now from scale of 1-10 I'm willing to only invest 1 because of this reason.
can you explain this.
right now from scale of 1-10 I'm willing to only invest 1 because of this reason.
What is similar of nxt? Wallet? We just take Nxt wallet as example.
About source code, we looked on nxt source first time when started development, maybe so there exist something like in nxt.
It's written in Node.js, not a fork.
In any way on this week we will start P2P and PoS for invited users, and do refactoring, remove unused trash.
July 07, 2014, 02:08:41 AM
Coin with an interesting feature. Vozmoyuno and it will work. Be sure to try.
July 07, 2014, 02:05:15 AM
your saying that this is all new source. but it looks so similar to nxt.
can you explain this.
right now from scale of 1-10 I'm willing to only invest 1 because of this reason.
can you explain this.
right now from scale of 1-10 I'm willing to only invest 1 because of this reason.
July 07, 2014, 01:54:39 AM
Hi all,
News
OP post updated, a lot of news there. Vesting, news of IPO and Dgex.
For more info - read please.
Ticker vote
Vote of our ticker:
https://bitcointalksearch.org/topic/vote-official-ticker-of-crypti-679779
We need your help! Let's choose it together!
Wallet/Development
We fixed bugs in wallet, it's already deployed, thanks community for responses and found issues. We continue work.
On the end of this week we will launch PoS for invited people.
If you want to be invited, please, send me your test (TEST, not your real) secretphrase, we will install node for you. Limit for first time: 30 peoples, then we will invite more.
News
OP post updated, a lot of news there. Vesting, news of IPO and Dgex.
For more info - read please.
Ticker vote
Vote of our ticker:
https://bitcointalksearch.org/topic/vote-official-ticker-of-crypti-679779
We need your help! Let's choose it together!
Wallet/Development
We fixed bugs in wallet, it's already deployed, thanks community for responses and found issues. We continue work.
On the end of this week we will launch PoS for invited people.
If you want to be invited, please, send me your test (TEST, not your real) secretphrase, we will install node for you. Limit for first time: 30 peoples, then we will invite more.
So there is no cap on maximum investment, and no max per user?
So we have the next Swarm and maidsafe. No ROI for early investors, only huge risks. But we can dump them for 50% after launch.
OMG the next hated project. How can you do that?
Cap per user added in OP post.
July 07, 2014, 01:53:42 AM
A spec written in node for a currency is kinda hilarious and it is not open source? Never thought I'd see the day.
Sources will be published every 3 months.
July 07, 2014, 01:51:40 AM
Dgex will accept NXT or BTC for the IPO?
July 07, 2014, 01:25:23 AM
dude where do i send my bitcoins to?! i need to invest in ipo! seriously!
and i need to know how much is invested so far. transparency of the total investment would be good.
and i need to know how much is invested so far. transparency of the total investment would be good.
July 07, 2014, 01:24:34 AM
no cap on maximum investment, and no max per user
There is actually 10% max cap per buyer, although the OP misses this section for some reason.
I asked Crypti to update it.
July 07, 2014, 12:38:39 AM
I have been following this thread for long. By the first IPO, I was happy with the detailed explanation from Grexx and SyRenity about initial distribution. Why the 15% or the 10% was required etc made sense. The final outlay about dev fund reflecting the amount of btc raised seemed good too. But then there was this:
https://bitcointalksearch.org/topic/m.7602355
This was just before the initial distribution. While it was later corrected by SyRenity to reflect the OP; now we have ended up with the same distribution (up to 25% premine for the guys). Now, IMO this amounts to double speak and constant moving goalpost by the team. So I am outta here.
PS: for guys who actually want to invest, at BTC at 650, here's what the whole coin will be worth:
250 BTC = 812,500
300 BTC = 1.02 million
350 BTC = 1.26 million
400 BTC = 1.53 million
450 BTC = 1.83 million
500 BTC = 2.17 million
Now the question is - is the current beta worth that much money? Think and invest.
https://bitcointalksearch.org/topic/m.7602355
This was just before the initial distribution. While it was later corrected by SyRenity to reflect the OP; now we have ended up with the same distribution (up to 25% premine for the guys). Now, IMO this amounts to double speak and constant moving goalpost by the team. So I am outta here.
PS: for guys who actually want to invest, at BTC at 650, here's what the whole coin will be worth:
250 BTC = 812,500
300 BTC = 1.02 million
350 BTC = 1.26 million
400 BTC = 1.53 million
450 BTC = 1.83 million
500 BTC = 2.17 million
Now the question is - is the current beta worth that much money? Think and invest.
July 07, 2014, 12:14:19 AM
Anybody remember the Edgecoin IPO? Yeah..
Have you see the running version on http://crypti.me:6040 ?
July 07, 2014, 12:13:35 AM
So there is no cap on maximum investment, and no max per user?
So we have the next Swarm and maidsafe. No ROI for early investors, only huge risks. But we can dump them for 50% after launch.
OMG the next hated project. How can you do that?
So we have the next Swarm and maidsafe. No ROI for early investors, only huge risks. But we can dump them for 50% after launch.
OMG the next hated project. How can you do that?
There is 10% max cap per user, this section is missing from the OP (seems as was missed on copy from our internal docs) and will be added shortly.
As per total cap, there is no comparing Crypti to these two projects, which have not presented a single line of code, while Crypti provides a public working version and is constantly being improved.
A side observation, there were dozens of big IPO's without any total cap limit (NXT, Qora, Exo, SIM to mention a few), and I've never seen any calls to devs to Cap the total amount.
July 07, 2014, 12:04:50 AM
Will the pre-sale start today?
We will announce soon, pending final launch confirmations from the escrow providers.
Jump to: