[XCR] Crypti | Dapps | Sidechains | Dapp Store | OPEN SOURCE | 100% own code | DPoS - page 579.

iGoodw1n

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Quote from: SyRenity on July 01, 2014, 03:35:43 PM

Quote from: iGoodw1n on July 01, 2014, 03:32:24 PM

Ok, you want raise 2000 BTC and get 15% of all coins.

We naturally want to raise as much as possible to ensure sufficient funding for Crypti, that said the free market will decide how much the Crypti potential worth.

As per 15%, I explained already several times why this needed (investor compensation and developers commitment).
It all comes to one fact - you can live with that and know that these 15% are used to ensure a solid future for Crypti, or you can't. As simple as that.

If 15% will be used to ensure a solid future, why you need a fund with 2000 btc. I think fund with raised IPO will be used to ensure a solid future. Huh

MEGAman

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I'm gonna clean up this town

Quote from: SyRenity on July 01, 2014, 03:35:43 PM

Quote from: iGoodw1n on July 01, 2014, 03:32:24 PM

Ok, you want raise 2000 BTC and get 15% of all coins.

We naturally want to raise as much as possible to ensure sufficient funding for Crypti, that said the free market will decide how much the Crypti potential worth.

As per 15%, I explained already several times why this needed (investor compensation and developers commitment).
It all comes to one fact - you can live with that and know that these 15% are used to ensure a solid future for Crypti, or you can't. As simple as that.

Right - giving these guys 15% of the coins for free before they have proven a damn thing seems real smart. At least require proof these guys have the skills required to pull it off (which I assure you they don't). Easy out.

SyRenity

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Quote from: iGoodw1n on July 01, 2014, 03:32:24 PM

Ok, you want raise 2000 BTC and get 15% of all coins.

We naturally want to raise as much as possible to ensure sufficient funding for Crypti, that said the free market will decide how much the Crypti potential worth.

As per 15%, I explained already several times why this needed (investor compensation and developers commitment).
It all comes to one fact - you can live with that and know that these 15% are used to ensure a solid future for Crypti, or you can't. As simple as that.

SyRenity

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Quote from: Litoshi on July 01, 2014, 09:25:47 AM

Even IF the devs have good intentions.............. well, just remember this song:

MONEY CHANGES EVERYTHING

Unfortunately too well known human nature flaw, we are discussing some transparent mechanisms that will allow avoid or minimize it.

iGoodw1n

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Activity: 294

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Quote from: SyRenity on July 01, 2014, 03:27:57 PM

Quote from: iGoodw1n on July 01, 2014, 03:24:40 PM

Set max cap 500btc and set dev percent depends on IPO. 300 BTC 10% for dev, 400 BTC 9% for dev, 500 BTC 8% for dev. What do you think? For example if you will raise 300 BTC you will get 4% for fund and 10% for devs. If 500 BTC 8% for devs and zero for fund.

I frankly don't understand, why raised funds have to be capped, if they going to be managed by foundation?
Unfortunately we can't touch the 15%, due to them being distributed (and potentially vested) among the launch team (investor and developers).

Hence the additional 10% being distributed according to raised sum.

Ok, you want raise 2000 BTC and get 15% of all coins.

SyRenity

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Quote from: ?? on ??

Quote from: CryptoGuu on July 01, 2014, 12:08:23 PM

Quote from: crypti on July 01, 2014, 09:04:35 AM

Деньги с IPO идут не разработчикам, а на дальнейшую разработку. Будет btc адрес, по которому будут отчеты каждый месяц, куда и что ушло.
Процент по премайну скорей всего будет пересмотрен, мы обсуждаем это.
По поводу development fund (10%) он будет уменьшатся в зависимости от количество btc на IPO. Смотрите первый пост.

and could you please explain this in english too.

Google translator:

Money from the IPO are not developers, and for the further development. Btc is the address to which reports will be every month, and where it has gone.
Premaynu percentage is likely to be revised, we are discussing it.
About development fund (10%), it will be reduced depending on the amount of btc an IPO. See first post.

To be more exact:
* Raised funds are for purpose for further development, with monthly reporting
* 15% are being discussed (with vesting options - Sy).
* 10% are gradually lowered according to the raised sum. See OP for more details.

SyRenity

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Quote from: iGoodw1n on July 01, 2014, 03:24:40 PM

Set max cap 500btc and set dev percent depends on IPO. 300 BTC 10% for dev, 400 BTC 9% for dev, 500 BTC 8% for dev. What do you think? For example if you will raise 300 BTC you will get 4% for fund and 10% for devs. If 500 BTC 8% for devs and zero for fund.

I frankly don't understand, why raised funds have to be capped, if they going to be managed by foundation?
Unfortunately we can't touch the 15%, due to them being distributed (and potentially vested) among the launch team (investor and developers).

Hence the additional 10% being distributed according to raised sum.

SyRenity

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Activity: 756

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Quote from: Litoshi on July 01, 2014, 01:55:14 PM

So if you think that the devs of this coin are going to stick around after it gets listed on a popular exchange, you are smoking funny tobacco. They will make lots of BTC in the IPO, and another smaller stash in the dump-after-exchange-listing.

Again - the suggested solutions are:

* Vesting on the developers (to prevent P&D)
* Foundation that will control the raised BTC expenses, with monthly reports on their usage

I believe this solves your concerns?

iGoodw1n

sr. member

Activity: 294

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Set max cap 500btc and set dev percent depends on IPO. 300 BTC 10% for dev, 400 BTC 9% for dev, 500 BTC 8% for dev. What do you think? For example if you will raise 300 BTC you will get 4% for fund and 10% for devs. If 500 BTC 8% for devs and zero for fund.

SyRenity

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Quote from: MEGAman on July 01, 2014, 03:07:55 PM

When they release it, I will bet you I could code a clone in 3 days, yes. When is the last time a coin followed through on "planned features"? Never? They use those "plans" to string you along until they can unload their stash of 15%. This is why devs should never get more than 1% without mining it themselves. I'm cool with compensation and motivation but not cool with robbery.

You meant taking Crypti existing code and simply cloning it after tuning couple of parameters? It's indeed doable within even a day, though I wouldn't really call it development...

As per 15%, a hefty part of it going to investor who was willing to fund Crypti development up to this point. You believe he does not deserve it either, and should fund the development without compensation?

Regarding the remaining portion of 15% that goes to developers, vesting is exactly the mechanism that will ensure the developers fulfill the planned features.

SyRenity

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Quote from: MEGAman on July 01, 2014, 03:04:46 PM

Quote from: SyRenity on July 01, 2014, 02:58:38 PM

* Vested developers Crypti, that will be released to developers as the time passes
* Capped sum per buyer, allowing to prevent "whailing" from heavy buyers
* Voted management of raised BTC funds, to ensure they are spent only for the benefit of Crypti progress

At least 1 and 3. Capped sum is pointless since it's been proven how easily manipulated it is. Basically, people need to approach every altcoin as a scam until proven otherwise. As many safeguards as possible must be in place. I just haven't seen anything here that demonstrates this coin has any value or utility. JS source? That is nothing new. IPO coins are extremely risky and several developers of IPO coins have actually been prosecuted since the distribution method violates a number of laws itself while also making it easy to cheat. This whole market is about greed on both sides. Nobody is doing a damn thing to advance the movement or better the world. It's about easy money and these coin devs are at the top of the food chain right now ripping you all off.

While I agree with you that every new start is risky (Bitcoin and NXT anyone?), I do personally believe there are developers who do things for sake of advancing the crypto field (counterparty, ethereum, sia to name a few). We want to do the same with Crypti, hence we plan the budget so carefully so the team won't run of funds in the middle.

And as per 1 and 3, you will be happy to know these are under active discussions, and actually one of the reasons that we decided to postpone the pre-sale start.

MEGAman

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I'm gonna clean up this town

Quote from: SyRenity on July 01, 2014, 03:04:04 PM

Quote from: MEGAman on July 01, 2014, 02:56:56 PM

Really? 2-3 days worth of coding for a mediocre developer to make possibly $100,000 USD? Not to mention there are already a ton of JS implementations of the code - it's obviously not from scratch. Same shit different box.

I presume you can code Crypti clone in 2-3 days with all the described and planned features?
If yes, please let me know once you launch it, I will be the first to invest knowing there is such a rock-star developer beyond it.

Otherwise, I'd suggest you to hold on with these speculations until Crypti becomes available for download, so you could see the amount of (obfuscated for now) code there.

When they release it, I will bet you I could code a clone in 3 days, yes. When is the last time a coin followed through on "planned features"? Never? They use those "plans" to string you along until they can unload their stash of 15%. This is why devs should never get more than 1% without mining it themselves. I'm cool with compensation and motivation but not cool with robbery.

MEGAman

sr. member

Activity: 462

Merit: 250

I'm gonna clean up this town

Quote from: SyRenity on July 01, 2014, 02:58:38 PM

Quote from: MEGAman on July 01, 2014, 02:42:35 PM

Why would they waste a ton of time actually trying to build something great that requires time, dedication, and skill? They can just keep running new scams, make 20 times as much money, and they barely need any skill at all. As long as people are stupid enough to buy into this crap the motivation to actually make something legitimate dwindles even further. Right now, there is a lot more money in scams that legit ventures in the altcoin world because stupid, greedy people continue to support criminals instead of doing research and using their heads.

So, let me try and summarize what would be the terms ensuring the lowest risk, from your point of view:

* Vested developers Crypti, that will be released to developers as the time passes
* Capped sum per buyer, allowing to prevent "whailing" from heavy buyers
* Voted management of raised BTC funds, to ensure they are spent only for the benefit of Crypti progress

Am I correct?

At least 1 and 3. Capped sum is pointless since it's been proven how easily manipulated it is. Basically, people need to approach every altcoin as a scam until proven otherwise. As many safeguards as possible must be in place. I just haven't seen anything here that demonstrates this coin has any value or utility. JS source? That is nothing new. IPO coins are extremely risky and several developers of IPO coins have actually been prosecuted since the distribution method violates a number of laws itself while also making it easy to cheat. This whole market is about greed on both sides. Nobody is doing a damn thing to advance the movement or better the world. It's about easy money and these coin devs are at the top of the food chain right now ripping you all off.

SyRenity

hero member

Activity: 756

Merit: 502

Quote from: MEGAman on July 01, 2014, 02:56:56 PM

Really? 2-3 days worth of coding for a mediocre developer to make possibly $100,000 USD? Not to mention there are already a ton of JS implementations of the code - it's obviously not from scratch. Same shit different box.

I presume you can code Crypti clone in 2-3 days with all the described and planned features?
If yes, please let me know once you launch it, I will be the first to invest knowing there is such a rock-star developer beyond it.

Otherwise, I'd suggest you to hold on with these speculations until Crypti becomes available for download, so you could see the amount of (obfuscated for now) code there.

Djinou94

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Quote from: SyRenity on July 01, 2014, 02:41:28 PM

Quote from: Djinou94 on July 01, 2014, 02:27:29 PM

These people are idiot Dimitri we gonna fuck them all with our scam project
And then it's caviar, vodka at 10% alcohool and Tatiana's for the rest of our life bro

A bit a personal question if I may, Qora had the same risks, plus the developer is completely anonymous.

So how come you have participated in that IPO (which did over 100 BTC AFAIR)?

Im kidding man Cheesy

I will invest, it´s a gud coin

SyRenity

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Activity: 756

Merit: 502

Quote from: MEGAman on July 01, 2014, 02:42:35 PM

Why would they waste a ton of time actually trying to build something great that requires time, dedication, and skill? They can just keep running new scams, make 20 times as much money, and they barely need any skill at all. As long as people are stupid enough to buy into this crap the motivation to actually make something legitimate dwindles even further. Right now, there is a lot more money in scams that legit ventures in the altcoin world because stupid, greedy people continue to support criminals instead of doing research and using their heads.

So, let me try and summarize what would be the terms ensuring the lowest risk, from your point of view:

* Vested developers Crypti, that will be released to developers as the time passes
* Capped sum per buyer, allowing to prevent "whailing" from heavy buyers
* Voted management of raised BTC funds, to ensure they are spent only for the benefit of Crypti progress

Am I correct?

MEGAman

sr. member

Activity: 462

Merit: 250

I'm gonna clean up this town

Quote from: SyRenity on July 01, 2014, 02:44:21 PM

Quote from: PilotofBTC on July 01, 2014, 02:07:12 PM

All new code from scratch in javascript seems like a lot of work to do to scam someone. He could have just forked next or Bitcoin, or peer-coin etc.

Just a small correction, there is a team and an initial angel investor, rather then a one-man show developer.

Really? 2-3 days worth of coding for a mediocre developer to make possibly $100,000 USD? Not to mention there are already a ton of JS implementations of the code - it's obviously not from scratch. Same shit different box.

There are a lot of doctors that went to school until they were 30 who don't make that much in a year. Well worth a few days of effort for what is likely a 16-year-old kid. There are no investors - the idiots giving them their money are the "investors." This scam makes Bernie Madoff look legitimate.

SyRenity

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Quote from: techbytes on July 01, 2014, 02:45:02 PM

For whatever reasons, the screenshots reminded me of EdgeCoin. I just can't get past that...
-tb-

Have you tried the beta (which Edge never had)?

pabloangello

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Quote from: SyRenity on July 01, 2014, 02:44:51 PM

Quote from: pabloangello on July 01, 2014, 02:43:27 PM

I'm just asking because it was told that this will start 30 of June. So it is delayed yes?

Indeed, we seen that we are not making this in time and decided to push, rather then rush.

Ok so, I will follow the thread anyway.

techbytes

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Point. Click. Blockchain

For whatever reasons, the screenshots reminded me of EdgeCoin. I just can't get past that...

-tb-

Topic: [XCR] Crypti | Dapps | Sidechains | Dapp Store | OPEN SOURCE | 100% own code | DPoS - page 579. (Read 804702 times)