Investing in Tezos (XTZ) - Everything You Need to Know ...
Investing in Tezos (XTZ) - Everything You Need to Know ...
Tezos Board Reshuffled As Johann Gevers Steps Down ...
What Is Tezos (XTZ): All You Need To Know - Coin
Bitcoin Bites Back At Swiss Davos Doubters
About Tezos- The controversial Cryptocurrency you should ...
The Story and Voice of the Tezos Community
You can read the following text alongside our original Community Statement here. About the Tezos Community The grassroots Tezos Community is comprised of contributors, developers, Community leaders, prominent crypto technologists, thought leaders and researchers and key industry investors. Together, we have risen up to help the Tezos Foundation overcome its current paralysis and fulfill its mission to support the Tezos protocol. Through online forums and meetups around the world, the Community has united and is galvanized in its request that changes be made to the Foundation immediately. What we are doing and why We are gravely concerned about Mr. Johann Gevers and his failure to realize the purpose of the Tezos Foundation. These concerns are clearly enumerated in this Community Petition. The petition has now garnered almost 1,400 signatures, from 95 different countries, including some from eminent people in the wider crypto Community. The Tezos Community wishes to expose the gravity of Mr. Gevers’ mismanagement and the need to make changes immediately to ensure that we realize Tezos’ astonishing potential. In addition to the Petition, the Tezos Community Organizers have released two position statements, “The Tezos Community Condemns the Foundation Investigating Itself,” which called out the conduct of the Foundation’s self-evaluation as deeply disturbing amid reports here that Mr. Gevers would play a key role in reviewing evidence against himself, and “The Tezos Community Statement on a New Tezos Foundation Board Member,” which, upon the resignation of board member Mr. Guido Schmitz-Krummacher, called on the board to unanimously elect a new board member who is a demonstrably competent executive, highly respected in the crypto Community, and completely independent with no prior dealings with current or former board members, and reiterated its call for Mr. Gevers to resign or be dismissed immediately. While a board member, Mr. Schmitz-Krummacher never addressed the Community, but upon resigning, he joined an online Tezos Community forum and posted inconsistent and incomplete statements on his actions during his tenure, which he subsequently deleted and revised. This disturbing, questionable behavior severely diminishes Mr. Schmitz-Krummacher’s credibility as he speaks about internal Foundation matters. In addition, these prior statements, which he has since deleted, failed to provide comprehensive answers to specific questions he was asked online, such as: what was the cause of leaks of internal Foundation matters to the media; why the complete and final Foundation audit had not been made public; why Mr. Gevers was allowed to review evidence against himself when obviously there was a conflict of interest; and, why there had not been a unanimous statement from the board clearing Mr. Gevers of the impropriety he denies. At this point, the behavior of the board is so questionable that if the audit is released the Community is concerned that it will be presented in an incomplete or redacted manner so as to protect the interests of Mr. Gevers and possibly of Mr. Schmitz-Krummacher as well. Pattern of misconduct by Mr. Gevers Through its determined and passionate efforts, the Community has come to learn about a pattern of disturbing conduct by Mr. Gevers. These are enumerated in the previously mentioned petition, and through personal stories of Community members and former colleagues of Mr. Gevers. The following are a few of these stories and represent a clear and consistent pattern of disturbing behavior by Mr. Gevers. The Tragedy of Monetas Mr. Gevers’ now bankrupt venture, Monetas, is a prime example of his appalling mismanagement and willingness to manipulate his financial backers with incomplete and false statements. Recently, Mr. Gevers praised the progress of Monetas to his investors, announced his expectations of profitability in Q2 2018, while only days later Monetas bankruptcy was announced. This means that Mr. Gevers praised the progress of Monetas though he perfectly knew that his venture was over indebted and that bankruptcy was imminent. Here is how he represented the matter to investors. Furthermore, a key member of the Monetas team has bravely stepped forward to describe the mismanagement of Mr. Gevers. For now, because Mr. Gevers has a history of making threats of retaliation against people who have worked with him, this person wishes to remain anonymous.
Most of the management and employees resigned in 2016 because we could see that Johann was an incompetent CEO, running the company into the ground. I am not surprised at all that Monetas eventually failed. Johann has treated employees and investors very badly. He harmed a lot of people. Monetas had terrible governance. Johann set the company up in Anguilla, and granted himself sole and single handed decision making powers in all matters. The other shareholders, Board members, or management had no ability to make decisions. Monetas had very competent managers and advisors who attempted to put the company back on course. As soon as anyone was getting traction, Johann declared them the enemy and part of the ´dark forces´ that are hell bent on destroying Johann and Monetas. One example was a very experienced and highly regarded Swiss banker and entrepreneur, an excellent talented manager who came in as Advisor, and selflessly threw himself into saving Monetas - working practically full time (despite being paid only for a few hours of advisory work). He made a great impact quickly. Johann soon declared that he was ´part of the dark forces against him´ and that ´his aim was to destroy Monetas´. His advisory contract was soon cancelled. Many Monetas employees had serious financial problems because the company did not pay their salaries, often for months on end. We usually found out that the company was unable to pay salaries by checking our bank accounts and noticing that there was no incoming salary payment. When the company had liquidity problems, Johann almost never warned us in advance so we could at least make arrangements, almost never mentioned it when the salary payment date came and went without payments being made, and when we asked him when salaries were going to be paid, he repeatedly told us of that were due soon and would cover the salary payments. These investment inflows typically did not materialise. We eventually realised that when Johann made these promises, this was on the basis of either no ongoing investor conversations, or only extremely tentative ones that could never have had anything but a small chance of materialising, and none within the timeframes that Johann indicated. Eventually, we did not believe Johann´s statements, but early on, many of us got into financial difficulties trusting what Johann had told us. When Johann caused someone harm, he seemed to show no hesitation prior, nor guilt or remorse in hindsight. The only thing that seemed to concern him was how he would be seen as a result. Johann has an inflated view of himself. I have heard him make the following claim, ‘I add a thousand times more value to this company than anyone else working here.’
Tezos Foundation The same deplorable pattern of behavior is repeating, as Mr. Gevers has so mismanaged the Tezos Foundation that it has failed to fulfill its stated mission, as categorically detailed in the Community Petition. The same animus that he showed towards former advisors who tried to help save Monetas he now aims at Kathleen & Arthur Breitman, the Tezos founders. Mr. Gevers’ paranoia of “the world is out to get me” drove him to leak internal Foundation matters to the press in an attempt to defame Kathleen & Arthur Breitman. After Arthur Breitman submitted a 46-page confidential complaint to the foundation, requesting that it be handled internally with discretion, Mr. Gevers leaked it to the press. Furthermore, when Kathleen & Arthur Breitman requested indemnity against the pending class action lawsuits, Mr. Gevers leaked the matter to the press. Contributors to the Foundation expect and understand that the Tezos Foundation is obliged to fund the development of the Tezos protocol before its launch. As President of the Foundation, Mr. Gevers bears ultimate responsibility for meeting this obligation, but he has yet to approve funding to the core development team, forcing Kathleen & Arthur Breitman to fund the development alone. This pattern of Mr. Gevers forcing people who work with him to take money out of their own pocket, as happened with Monetas, is repeating at the Tezos Foundation. On August 10, 2017, the Tezos Foundation announced a $50 million development fund that excited many Community members. No additional details were given past that initial announcement, and no funds were ever distributed. In addition, the Foundation announced that its “spending plans will remain...similar to the numbers outlined in the Tezos Overview document,” but the spending plan has not been implemented. On September 30, 2017, the Tezos Foundation announced that it would build out the core development team as well as additional “organizations to house teams working on the core protocol, building out the developer experience, and crafting products and applications.” Despite this broad ambition, only Board Member Diego Olivier Fernandez Pons frequently offers support and encouragement to the development team, as seen in twitter posts featuring photos with him and the team, and the core team confirms that Mr. Pons is doing all that he can to help prepare the Tezos network for launch. Mr. Gevers, on the other hand, has been mysteriously absent. Such a profound lack of leadership demoralizes the team and the larger Community. Since September 30, 2017, the Foundation, under the leadership of Mr. Gevers, has failed to provide an update to the Tezos Community. Community member and well-known leader, Jonas Lamis, through his own time, effort and expense has hosted a Community website and produced videos on the progress of Tezos. He also coordinated some meetups which the Foundation should have initiated and funded. Mr. Lamis received specific email approval from Mr. Gevers to host a meetup. In this email Mr. Gevers clearly represented that the expense would be reimbursed. Mr. Lamis submitted a request for reimbursement to Mr. Gevers, which has gone unanswered for more than 4 months and counting. The disregard, disrespect and callousness by Mr. Gevers does not go unnoticed by the Community, which highly values Mr. Lamis’ contributions, and follow the same pattern of behavior he exhibited at Monetas, his now bankrupt venture. Resolution We do not support or encourage the class action lawsuits that are pending against Tezos in the United States, which we denounce as without merit, and we offer our full support to Kathleen & Arthur Breitman and the core developers. The Tezos Community admires their heroic work despite difficult circumstances. We call on the board of the Tezos Foundation to immediately fulfill its mandate to “promote and fund the development of the Tezos protocol,” and for Mr. Gevers to resign or be replaced, and if needed, for the Swiss Foundation Authority to forcefully step in and make changes to the Foundation that are necessary to fulfill its stated mission. The Swiss Foundation Authority has clear responsibility and authority in the matter and exists for the purpose of making sure that the Foundation fulfills its charter. We denounce in the strongest terms the disrespect, disregard and utter contempt which Mr. Gevers has shown to the founders of Tezos, Kathleen & Arthur Breitman, and call on the board to repair its relationship with them. We reiterate the essence of the Community Petition here:
Regardless of the current state or outcome of the audit, the immediate resignation or dismissal of Mr. Gevers. The Community no longer has trust and confidence in his leadership;
Immediate clarification of whether Mr. Gevers did or did not attempt to pay himself 750,000 XTZ and whether he represented this bonus as being worth 300,000 CHF;
Full, unredacted publication to the wider Community by the Foundation’s legal counsel of the audit investigating allegations against Mr. Gevers;
With immediate effect, the disbursement of a sizeable budget to the core development team for the completion of network development, testing and deployment;
With immediate effect, the disbursement of a sizeable budget for Community program funding, such as, but not limited to, the funding of a bug bounty program, Tezos ancillary utilities such as wallets, delegation and baking software, blockchain explorers, the Validator Audit program, Community forums, and other such Community projects that have self-funded so far;
Introduce governance procedures into the Foundation to take into account the voice of Community members. The Foundation will work with the Community to come up with an acceptable method of making sure that its voice is adequately considered.
Call to the Press We call on all reputable journalists and media to take up the untold story of the Tezos Community and its reasonable and sound requests for a resolution. We regret that the united voice of the Community has barely been heard in news outlets while Mr. Gevers’ views and leaks of internal Foundation matters have received large circulation in the media. We call attention to Mr. Gevers’ ties with Thomson Reuters, as both Monetas and Thomson Reuters were founding members of the recently formed Crypto Valley Association, which Mr. Gevers initiated. Nevertheless, we are confident that Thomson Reuters, as well as other media outlets, will be professional and objective in accurately and adequately publishing the views of the Tezos Community. The Tezos Community is incredibly optimistic about the potential of Tezos. Arthur Breitman and the core team of developers are doing heroic work moving forward despite difficult circumstances. With changes to the board, Tezos will move forward and reach the incredible potential that it has to revolutionize the blockchain sector. The good name of Zug, Switzerland, known as “Crypto Valley” may well become known as “Klepto Valley” if the Tezos Foundation, with Mr. Gevers at its head, is allowed to take contributions from individuals all over the world and fail to use them for its stated mission and purpose in a timely manner. The Tezos Community Petition Organizers
Tezos Jokes - Quote what you like/Add yours to the collection
What's the difference between Tezos and NASA? Tezos is actually going to Mars
Why do meat lovers love Tezos? Because it's the best 'Proof-of-Steak'
What is an Irish Tezos investor most worried about? “Forking Tezos”
Who was the prequel to Tezos? Jeff Bezos
"How much for Tesla?" 100 Tezos. "100 Tezos! That's a lot of money." I know, but Tesla is a big company. And I think if you look at our financial statements for the last few years, you will see you are getting a bargain and we'll include SpaceX for free.
Where does an Eskimo keep his Tezos? In a cold wallet.
What’s the difference between an average bitcoin miner and an average tezos baker? An average tezos baker will have at least something to eat
Johann Gevers ... He was the joke
What's the difference between Elon Musk's SpaceX and Tezos? SpaceX will actually return to earth, after takeoff...
Who is Tezos' least favorite rapper? 2chainz!
How long before 1 Tezos becomes worth more than 1 US dollar? It already is!!!
So Tezos price is down 50% ? Sweet. Now you can get twice as many for the same price.
You hesitate when asked what your occupation is, because you think they won’t believe you if you say both ‘baker’ AND ‘your real occupation’
What do you call a 3 humped OCaml? Pregnant
What should Arthur's Twitter handle be? Arthur "Not giving away XTZ" B.(@ArthurB)
Why is baking Tezos more fun? Because they never get mold
What does XTZ do after it's baked? It loafs around
What happened when a delegator's wife came home early? She caught her husband Masterbaking
Pick up line: You must be a xtz baker, your buns are fantastic
A frustrated baker walks past a bar
How do you pronounce XTZ? Ecstasy
Chuck Norris is a Brain Baker No block dares to delegate to him
Why is Tezos popular in the Desert kingdoms? Because it's oCamel based
Why do Tezos hodlers want a Tesla? Because Ferrari is owned by Fiat
Mycelium Wallets use our own custom nodes to process the bitcoin blockchain and scan for address balances. These nodes were written by Jan Møller while he was the Lead Developer, along with our other devs. The job of these nodes is to parse the 30 gig Blockchain database into our own custom database, which is much larger, being over 100 gigs in size, but which allows for very quick and easy lookup of address balances, allowing for instant balance lookups and to do things like Cold Storage spending from paper wallets and Trezor. Note that this custom database doesn't actually contain anything that's not in the original blockchain database itself. Mycelium's owner and developers believe in total financial privacy and personal freedom, and our company has a goal to make Mycelium Wallet the most anonymous wallet possible. For this reason, we have kept our wallet code completely open since the beginning, and have been public and open about what goes on internally in our company (I hope you have noticed my frequent updates, especially with the unfortunate Entropy delays). And even while Jan was still the lead dev, we have created LocalTrader to work completely anonymously, using only bitcoin signed messages for user authentication and encrypting all user chat P2P using their respective private keys so our servers receive no usable data. We have also added HD wallet support, and disabled all IP and transaction logging on our nodes. However, we also realize that just us claiming that we do that isn't good enough, and that's why we added full Tor support, and are in the process of implementing CoinJoin, which we hope to have enabled by default, so that even those who don't care about staying anonymous will help contribute. Our goal was to have Mycelium Wallet be as anonymous as Dark Wallet, and that has not changed. Jan Møller, our lead developer who did most of the work on the nodes, realized that the node-parsed blockchain database can be used to analyze bitcoin transaction activity, and help track transactions in the same way that our current financial institutions do (although with much less certainty). So he decided to have his own project that does just that, and has split off from Mycelium company last October. We still kept him on as our chief technical consultant, since he did write most of the node and original wallet code, so he is technically still employed by Mycelium, but he has had no access to our nodes since he left. Our current full time lead developer is Andreas Petersson, who is working on implementing Coinapult Locks right now, and the other two developers are Jan Dreske (trasla here) and Daniel Weigl, who have been adding support for Trezor, fixing bugs, adding minor requested features, etc. We at Mycelium are not fans of what Chainalysis does, but we can't really object too much, because if something like this is even possible to do, then someone will do it, whether it's Jan's company or someone else. It's also preferable that this is done by a public company in the open, instead of in secret by a government agency. And secondly, since the developer behind this is someone who worked with us and continues to stay in touch and advise us, we can at least get inside knowledge of what may be tracked and how by such systems, so we can be aware of what to watch out for and what to fix. Obviously it's not a guarantee that we will get an honest answer, but it's still better than nothing. With regards to why our website's About section still lists Jan Møller as a Lead Developer, it's because our website dev has been working full time on another (secret) Mycelium project, and has not had the chance to change anything. I guess the site is too low of a priority to update. Note that both of our current top wallet developers who have been doing most of the work these past few months, Jan Dreske and Daniel Weigl, are completely missing from there too. I am sorry that I have not publicly stated anything about this either, but since Chainalysis is a completely separate company, Jan Møller has not had access to our internal systems since he became a consultant, and our internal goals are still total anonymity, there was no risk whatsoever to Mycelium or the privacy of our users from the Mycelium side. I have been fairly open about being an AnarchoCapitalist myself, supporting people like Cody Wilson and Ross Ulbricht, and supporting the idea of The four pillars of a decentralized society as explained by Johann Gevers to help decentralize government functions. So if there ever is a risk of Mycelium becoming a snooping agency, or if Mycelium changes its goals with regards to expanding personal freedom, I still promise to let the community know, since there would be no way I would be willing to continue to work there if that happens. P.S. Yes, we have those Chainalysis nodes blocked on our Mycelium nodes, too, but that's not really a fix, since Chainalysis can just change their IP address. EDIT: Also, please note that if Mycelium wanted to be involved in this, we would have done this internally ourselves, likely making a ton of money from bankers and regulators in the process. But we didn't, not even allowing Jan to work on this internally, and wouldn't even consider implementing anything like that.
Hello! My name is Vladimir Hovanskiy. I am a Google Adwords manager at Platinum, a business facilitator of new generation, providing STO and ICO marketing services. We already created best STO blockchain platform on the market and consulted more than 700 projects. Here’s the proof 😎 Platinum.fund We are more than proud that we not only promote but also share our knowledge with the students of the UBAI. Here you can learn how to do security token offering and initial coin offering! Now I want to share some cool info on the purpose and role of tokens within the Blockchain ecosystem at the ICO stage. Initial Coin Offerings (ICOs) History Initial Coin Offerings (ICOs) are a means of fundraising for the initial capital needed to get new projects off the ground within the cryptocurrency ecosystem. More often than not, Bitcoin and Ethereum, are used to buy a quantity of project tokens. However, new projects are also being launched on alternative Blockchain platforms such as NEO or WANchain, wherein the “parent” chain’s tokens will be used to fund these ICOs. Pre-launch, ICO tokens are endorsed as functional currency in the project ecosystem. After a project’s ICO, it is available on exchanges, and then the market determines the value of those tokens. The main benefit of using the ICO funding system is that it avoids the prohibitive amount of time and expense incurred by launching a startup in the conventional method, by way of Initial Public Offering (IPO). The lengthy and costly process of ensuring regulatory compliance in different jurisdictions often makes the IPO format unfeasible for small companies. Thus, the ICO method of fundraising is far more attractive as a means of crowd funding for the project. But at the same time, an ICO is certainly riskier for the investor. It is important to note the different stages of the token sale. Token prices generally escalate the closer the token gets to its listing date. Projects often seek funding from angel investors even before the date of the private pre-sale is set, though some ICOs do go straight to pre-sale. After potential initial investment has been sought from angel investors, pre-sale begins. Usually there will be a 15–30% discount from the public sale price. The main-sale begins after the pre-sale has concluded. At that time, normal everyday crypto enthusiasts, with no connections to the team, may buy into the project at pretty close to the ground floor price. Angel investors and pre-sale investors sometimes receive quite large discounts from main sale prices, but their tokens are locked up for varying amounts of time, to prevent dumping, or selling all their tokens for a quick profit at the time of listing. Today the vast majority of ICOs make use of the Ethereum blockchain and the ERC-20 token. The very first token sale was arranged by Mastercoin, a Bitcoin fork, in July 2013. Ethereum soon followed in early 2014, raising 3700 BTC in only 12 hours (equivalent to $2.3 million at that time, and just under $35 million today). Before late 2015 there were sporadic ICOs, with Augur, NXT and Factom all successfully raising funds. 2016 was the year that the ICO format grew to truly disrupt the Venture Capital industry. There were 64 ICOs in 2016 which cumulatively raised $103 million USD. Tremendous Success & Why Real World Case Study The ICON (ICX) Initial coin offering is an example of a project that reaped the rewards of a token sale done with precision of execution and clarity of vision. The project promised to build a world-wide decentralized network that would allow Blockchains of different governances to transact with one another without a centralized authority, and with as few barriers as possible. ICX offered fair and clear tokenomics, with 1 Ether buying 2500 ICX, and with 1 ETH costing approximately 250 dollars when the ICO began on September 18th. 50% of the total amount of tokens were put up for public sale, 400,230,000 out of a total of 800,460,000, equating to a fundraising goal of 150,000 Ether. One of the core reasons for the project’s spectacular success was the incredibly distinguished background of those involved, and the foundation the project had in many years of stellar achievement. ICON was originally a project developed by “The Loop”, a joint venture between DAYLI financial group and three Korean Universities. They lead the Korea Financial Investment Blockchain Consortium, one of the largest organizations of its kind in the world, boasting members including Samsung Securities. The Loop had already implemented Blockchain solutions for high profile clients well before ICX was born, including completing a KYC/AML authentication smart contract platform for Korea Financial Investment Consortium. Real World Example of Failure & Why Case Study The risk involved in starting your own company is huge. Over 75% of startups eventually fail, according to the Harvard Business School study by Shikhar Ghosh. The study’s findings show the rate of failure for new companies is roughly 50% after 5 years, and over 75% after 10. Shikhar Ghosh identifies the following issues as the most common factors in start-up failure: -Insufficient Market Demand -Insolvency -Wrong Team -Got beat by competition -Pricing/Cost issues -Poor Product -Need for or Lack of business model -Ineffective Marketing -Disregarding Customer desires The statistics concerning rate of failure for conventional business startups pale in comparison to the number of crypto startups that fail according to Tokendata. They are one of the most rigorous ICO trackers, recording 46% of the 902 ICO crowdsale projects initiated in 2017 as failing by the time of writing. Of these 46%, 142 collapsed before the end of the funding stage, and a further 276 had either “exit scammed” (took the money and ran) or slowly faded into eventual obscurity. With no shortage of failed and abortive projects to look into, we thought it would be more helpful to look into an ICO that was mismanaged and unsuccessful in terms of its execution, rather than being fraudulent, or terminally mismanaged. Real World Example of Failure & Why §3 Tezos was designed as a “new decentralized Blockchain that governs itself by establishing a true digital commonwealth”. The project was a partnership between the husband and wife team of Kathleen and Arthur Breitman, and a Swiss foundation run by Johann Gevers. They had a novel idea of “formal verification”, a technique that mathematically proves the veracity of code governing transactions and heightens security of smart contracts. That idea was wholeheartedly endorsed by investors, resulting in $232 million USD raised in the 2017 crowdsale. Trouble arose after the Breitmans asked the head of the Swiss foundation they were in partnership with to step down. In Gever’s words, the Breitman’s were attempting “to bypass Swiss legal structure and take over control of the foundation”. The resulting 6 class action lawsuits that were spawned from the wreckage of one of the most successful ICOs of all time have yet to be fully resolved at the time of writing, though Gevers has stepped down and a new leadership team is in place. The Tezos Network has a prospective launch date of somewhere around Q3 2018. The debacle, though not terminal to the prospects of the Tezos network, provides a cautionary tale about the need for a clearly defined leadership structure and plan for the allocation of funds after an ICO. It is entirely possible that the Tezos project could have ridden the late 2017 market euphoria to sit near the top of the cryptocurrency hierarchy if boardroom strife could have been avoided. Real World Example of Failure & Why §4 Projects often also “pivot” from one focus or project to another. More often than not, teams change the project name entirely, even while retaining the same core team, to try for a successful venture one more time. One such project is Chain Trade Token (CTT) which, while technically speaking, not yet a “deadcoin”, shows all the signs of shutting down operations within a few months, and “pivoting” into a new project. The CTT project aimed to be the “first blockchain-based platform for the trading of futures and options on food and raw materials (aka commodity derivatives)”. But through a combination of a non-existent social media presence, and a distinct lack of urgency in securing listings beyond decentralized exchanges, the lofty ambitions of the top-level team were left unrealized. The team has supposedly split their operations from solely Chain Trade, to a former business endeavors, and the Nebula Decentralized Exchange. The project leaders then offered a 1-for-1 token swap which has been accepted by the vast majority of CTT holders. The ICO Process Before even researching the particular strengths and weaknesses of any specific project in which you may want to invest, it is important to know the overall processes of the ICO crowdfunding method. This will allow you to avoid any potential pitfalls if you do decide to move forward and invest money into a particular idea or project. How does an ICO happen? Stage One: Token sale details are set: This takes place usually after release of the whitepaper, and the presentation of a project to prospective investors in forums and on social media. Stage Two: Whitelisting for private sale begins: The vast majority of all ICOs have instituted KYC checks for investors which usually involve uploading a photograph of your passport or driving license along with a selfie holding the ID. Did you know? Participation in ICOs has proven to be a regulatory nightmare in some localities. Most token sales restrict contributions from investors in China and the USA entirely, though accredited investors may participate in the USA in some cases. Stage Three: Private/Pre-sale states: Typically, 10% of tokens will be offered to early investors at a 10–30% discount. These select few investors will likely have a close association with the team. But not all projects have a pre-sale round, some go straight to public sale. Stage Four: Whitelisting for Public/Main sale starts: The same format used for pre-sale investors is used for public sale investors, though it is a regular occurrence to see main sale KYC checks closed early due to overwhelming demand. An investor must then register a contribution wallet address. That is the address used to send cryptocurrency from, to buy the ICO tokens, and then also into which you will receive your purchased tokens. This wallet address must be a non-exchange wallet, like Blockchain.info bitcoin wallet, or MyEtherWallet for ERC-20. You already understand from the prior lesson that making a mistake with your wallet address may mean you lose the tokens forever as well as the BTC or ETH you used to purchase them. Copying and pasting your cryptocurrency public key into the whitelist wallet form is the next task to complete. And then, as the investor, you wait for confirmation of successful ICO registration from the team. Stage Five: Public sale starts: Commonly on a specific date, though sometimes for a specific period of time. If you are interested in participating in an ICO, it is important to make your contribution as quickly as possible, or you risk sending your ETH or BTC after the hard cap has been reached, resulting in your funds being sent back. This refund can sometimes take many days, or even weeks in times of high market activity. Did you know? In 2017 it was not unheard of to find ICOs that had originally scheduled their ICO period for many weeks, but then they met with such high demand that they could close their crowdsale in a matter of hours or even in just a few minutes! Stage Six: Tokens are allocated to successful participant investor wallets, and trading can begin on some decentralized exchanges like IDEX, or EtherDelta in the case of Ethereum based tokens. Tokens will be sent to and received by the wallet addresses from which the investor contributions were made. Stage Seven: Tokens are listed on mainstream exchanges: The tokens will then be listed on the exchanges with which the teams have negotiated listing, prior to or during the sale. It can cost huge amounts of money to list on large exchanges like Bitfinex Bittrex, Huobi or Binance, so usually smaller projects will not be listed on top 10 exchanges so quickly. As tokens are listed on more and more exchanges, their price usually rises because more and more investors are exposed to opportunities to buy that particular token. Evaluating a Blockchain Use Case Evaluating a particular use case for Blockchain technology, and thus how successful an ICO project’s ambitions might be in a particular market, is not a simple endeavor. As demonstrated in the graphic below, Blockchain technology has nearly limitless potential to be applied to a great variety of business areas, but as an ICO investor, you are looking for projects that have the potential to deliver significant long-term success. In the currently saturated ICO environment, some use cases have more potential than others. Ascertaining which use case is likely to have long term success is a key distinction. Also, we must recognize that businesses and corporate entities may be overeager to experiment with this new Blockchain technology, whether or not usage of the technology is actually advisable or profitable for their particular purpose. The main questions to ask when analyzing specific solutions proposed by the project are: What are the problems posed and the solutions offered? Does this particular area of business need a Blockchain solution? That is, is a Blockchain solution in fact superior to the current way this particular business operates? Is the use of Blockchain in this specific instance feasible and applicable? What are competitors doing about Blockchain projects in this same area? A Blockchain network provides a shared, replicated, secured, immutable and verifiable data ledger. The implication for use case analysis: Shared and replicated: participants have a copy of the ledger and many people can view it or work on it Secured: Secured through cryptography Verifiable: Business rules are associated with all interactions that occur on the network Immutable: Transactions (records) cannot be modified or deleted, therefore a verifiable audit trail is maintained by the network So, with all this considered, what should we look for with regard to a possible business use case that would be best solved using Blockchain technology? 1. Data exchange that has trust issues i.e. businesses transacting with one another. Trust must be established through a multitude of verification processes with regards to employees and products. These processes increase operational cost. Example: Digital voting. 2. Any potential business process involving data storage, or compliance and risk data that get audited. Blockchain solutions would provide the regulators a real-time view of information. Example: Supply chain solutions like VeChain or WaltonChain. The possibility of close to zero operational loss would of course be attractive to any business. 3. All kinds of asset transactions. A Blockchain network, with its tamper-proof ledger, validating traceable and trackable transactions, could save many different industries untold amounts of money. Example: Tokenization of assets e.g. Jibrel Network or Polymath Purpose of Tokens Within the cryptocurrency ecosystem, the definition and role of a token iswidely understood. They represent programmable units of currency that sit atop a particular Blockchain, and they are part of a smart contract “logic” specific to a certain application. In the business sphere, a token can be defined as a unit of value that a project or business venture creates to enable it to self-govern. And the business venture also allows token users to connect and collaborate with its business products, while facilitating the sharing of rewards to all of its stakeholders. A token can also be described in a more general sense as a type of privately issued currency. In the past it was solely within the purview of governments to issue currency and set the terms of its governance. With the advent of Blockchain technology we now have businesses and organizations offering forms of digital money over which they, not the government or central bank, have control of the terms of operations and issuance. Wide scale adoption of these mechanisms could fundamentally alter the global economy. This is like the creation of self-sustaining, mini-economies in any sector of business or life, via a specific token or currency. Fun Fact: Tokens of the particular Blockchain upon which the project is launched will usually have to be bought in order to be exchanged for ICO tokens, hence it is important for traders and investors to be aware of the schedule for upcoming ICOs. ETH is usually the token used for exchange because the majority of ICOs launch on the Ethereum Blockchain. But this is not always the case. During January 2018, two NEO token ICOs, both the Key TKY and Ontology ICOs, were being carried out, and this caused the NEO cryptocurrency to spike to its all-time high in excess of $160 USD. Since the product or project is more often than not in its embryonic stage at the time of the ICO crowdfunding process, the ICO token’s true function and purpose is in most cases yet to be realized. At the ICO stage the tokens can usually be grouped together into one of three categories. Knowing how to distinguish these categories involves determining the specific nature and function of the token around which the project is centered. The main and crucial distinction, is whether or not a token is a security, and therefore subject to securities registration requirements. ICO Stage Token Categories Howey Test: This is the test created by the US Supreme Court to ascertain whether certain transactions qualify as “investment contracts”. If they are found to fall within this classification, then under the Securities Act of 1933 and the Exchange Act of 1934, those transactions are considered “securities” and participants must adhere to registration and disclosure requirements. One of the most important and amazing considerations of the effect of Blockchain technology is that normal people with a computer science background are now empowered to make decisions and offer products and services that previously only licensed financial institutions were able to do. This is a very complex and complicated situation with serious ramifications for anyone involved. One thing to note well is that ordinary participants and actors in this arena can easily commit white-collar crime, violating serious securities laws, without even realizing it. If a token falls within the US legal definition of “Investment Contract” then you must adhere to US regulations. For that reason, many ICOs simply do not want to sell to US based investors, perhaps until all the rules and regulations are clarified. Security Tokens The broad and varying definition of the term “security” is a regulatory minefield. This has always been true for traditional financial products, and now it is especially true for the as yet unregulated cryptocurrency market. In the case of SEC V. Howey, parameters were established to determine whether or not a particular financial arrangement could be classified as a security and thus be subject to securities regulations. Cooley LLP Fintech Team Leader Marco Santori has said, an arrangement is a security if it involves “an investment of money, and a common enterprise, with the expectation of profit, primarily from the efforts of others.” Investors have the option of accessing a huge range of security tokens through ICOs. Prime examples are the gold backed DigixDao (DGD) and CProp (still in crowd funding stage). A security token is fundamentally different from the currently available ICO project tokens in that it provides a legal and enforceable ownership of a company’s profits and voice in its governance much like common stock traded on any exchange. If security tokens are the next step in the evolution of crypto-finance, real estate, stocks, venture capital, and commodities can all be tokenized. The traditional markets could be fully connected to the Blockchain. Financial assets would available to anyone in the world, not just licensed or accredited investors. That is one aspect of Fintech, the financial revolution taking place today, as Blockchain technology clashes with traditional finance. Equity Tokens One exciting application of smart contracts on the Ethereum Network is the potential for startups to distribute equity tokens through initial coin offerings. That would reduce the hurdles that an average person has to face in order to take part in the early stages of a company’s development. And, democratic governance of a project could be conducted in a transparent manner through voting on the Blockchain. As of yet, few startups have attempted to conduct equity token sales for fear of falling afoul of the Securities and Exchange Commission (SEC) in the US. But many Venture Capital insiders are bullish on the prospect of equity tokens taking a central role in the crypto finance industry, when and as the legal issues are resolved. For example, the Delaware State legislature recently passed a bill enabling companies to maintain shareholder lists on the Blockchain. That is one major step to enable Blockchain based stock trading. Lawyers also generally believe it is only a matter of time before the regulations are clarified. Did you know? Important consideration: The Sarbanes-Oxley Act of 2002 made it unfeasibly expensive for smaller companies to be listed on exchanges, causing a halving in the number of IPOs between 1996 and 2016 (7322 to 3671). In 2017 there was an almost 5-fold increase in the number of ICOs, from 43 to 210, with the 2017 volume already being eclipsed in the first 5 months of 2018. Utility Tokens However, given that this area is still a regulatory nightmare for people planning to issue security and equity tokens, many projects attempt to ensure that the tokens within their specific model fall under the definition of Utility Tokens rather than securities, so as to avoid the SEC regulations altogether. If a token is imbued with a certain functionality and use within the Blockchain infrastructure of that particular project, the token can avoid being labelled as a security, and thus render SEC regulations inapplicable. Just this week in fact, the SEC made the long-awaited and momentous decision that Ether was not a security. In the words of William Hinman, director of the Securities and Exchange Commission division of corporate finance, “Putting aside the fundraising that accompanied the creation of Ether, based on my understanding of the present state of Ether, the Ethereum network and its decentralized structure, current offers and sales of Ether are not securities transactions.” This means that Ethereum, in fact, fails the Howey test, which is exactly the decision the crypto world wanted. Hinman said, “When the efforts of the third party are no longer a key factor for determining the enterprise’s success, material information asymmetries recede,” Hinman said. “The ability to identify an issuer or promoter to make the requisite disclosures becomes difficult, and less meaningful.” We will now cover various use cases that projects have been adopting up to now in order to get their tokens classified as utility tokens rather than securities. Voting Rights Some coins portray themselves as a company with tokens being held in a way that is analogous to voting shares of a stock. One coin held is equal to one vote. This form of token utility has a major flaw in that so-called whales (people with huge amounts of a particular cryptocurrency) can manipulate any poll conducted. The cryptocurrencies Aragon and Lykke are examples of projects that have written voting rights into the structure of their code. In-App Reward: Another common tactic to evade the security label has been the addition of in-app rewards to the functionality of a particular token. The Basic Attention Token (BAT) is the unit of currency for use with the project browser named “Brave”. The BAT is a unit of account for the advertisers, publishers and users of the platform. Filecoin, the cloud storage project that raised a record $257 million through their ICO, pays other people or companies for use of their spare storage space. Some of the many rights afforded to token holders in various Blockchain projects are described by the graphic below. Token Roles Function The token can be used as a mechanism through which user experience is enhanced, enabling such actions as connection with users, or joining a broader network. It may also be used as an incentive for beginning usage or for on-boarding. Examples include Dfinity and Steemit. Value Exchange: In its most basic usage, a token is a unit of value exchange within a specific app or market. This usually is made up of features that allow users to earn tokens through real work or passive work (sharing data, allowing use of storage space) and to spend them on services or internal functions within the specific market ecosystem created by that organization. Augur and KIK, amongst countless others, are projects that have implemented this functionality into their tokenomics. Toll: The token can also be used for getting onto the Blockchain infrastructure, or for powering decentralized applications run on that particular Blockchain. This ensures that users have “skin in the game”. Tolls can be derived from running smart contracts, paying a security deposit, or just usage fees. Examples include Bitcoin and Ethereum. Currency: Seeing as the particular platform or app is designed with a view towards functioning in synergy with a particular token, the token is an extremely efficient means of payment and transaction engine, resulting in frictionless transactions. This means that companies can become their own payment processors and no longer have to rely on the often unwieldy stages of conventional financial settlement involving trusted third parties in the form of banks and credit card companies. Rights: Owning a token bequests certain rights upon the holder, such as product usage, voting, access to restricted markets, and dividends (e.g.: GAS for holding NEO). Though most businesses are trying to avoid fitting the definition of a security laid out in the Howey Test, the right to real ownership of a particular asset is sometimes granted as a result of holding a token, for example DigixDAO or Tezos. Comparison to Traditional IPO and Equity Capital Raisings Despite the similarity of the acronyms and the derivation of one from the other, Initial Coin Offerings and Initial Public Offerings are very different methods of fundraising. The distinction is not limited simply to the fact that IPOs are used in conventional business, and ICOs are associated with cryptocurrency. Through ICO’s, companies in their early stages issue digital tokens on a Blockchain and those tokens act as units of value for use within the ecosystem created by the project. They have many other uses, but it is also fair to say they are analogous to shares offered in an Initial Public offering. In an IPO, shareholdings are distributed to investors through underwriters, usually investment banks. But in the case of ICO token sales, companies often do not even have an actual product to show. Often, all that there is a whitepaper, evidence of the partnerships involved and the particular social-media infrastructure they have established. IPO’s take place when a more well-established company floats shares on a stock exchange. The company would have a well-established history of success and significant reasons to expect a bright future. In the vast majority of cases, an ICO is used for a new company with no such history, just trying to get off the ground. Another important difference is the expected return in exchange for the investment. Companies engaging in IPOs may offer participants dividend paying stocks which result in various levels of return depending on the success of the company after the shares are issued. An ICO however can offer no such guaranteed return. When buying tokens in an ICO, you do so with no promise of return. An investor who holds the tokens of a particular project does so with the promise, rather than an assurance, of future success. The main benefit to investors taking part in Initial Coin Offerings, compared to Initial Public Offerings, is the need for only basic Know Your Customer checks in the case of the ICO, compared to the costly, complex and time-consuming regulatory obstacles that must be traversed in an IPO. In the case of Initial Public Offerings, a business must obtain authorization from a number of entities before the act of “going public”. Prior to an IPO, companies are not obliged to disclose so much of their internal records or accounting. It is not so complicated to make a private company in the United States. But in the run up to going public, the company must form a board of directors, make their records auditable to the relevant authorities in one or more jurisdictions, and prepare to make quarterly reports to the SEC (or equivalent). Relevant Factors to Consider in ICO process When analyzing the chances of success for a specific project, and the likelihood of a favorable return on investment in the long term, it is essential to break down the project into its constituent parts, and evaluate the strengths and weaknesses of each part individually. An effective investigation and analysis would start with the team and white paper. Consider the stage the project is at,and VC investments in the project. That would lead to a good initial idea of the actual progress thus far. Next, evaluate the social media presence and the credentials of the community that has formed around the core team. If a compelling case is made by the team, (e.g.: via an in-depth dive into the use case), and the tokenomics, distribution schedule, potential competitors, as well as the team’s awareness of any future business or regulatory concerns all check out; then the ICO might present a good opportunity for investment. In the following slides we tackle each of these considerations in order so you will be able to evaluate an ICO’s worth and assign a grade for the success of each project. Relevant Factors to Consider in ICO process The Team First and most important, we need evaluate the background and experience of the team, the people involved in the project. Well-established developers, for example, will likely have LinkedIn profiles demonstrating their previous endeavors and occupations, from which we can judge their suitability to the project and the likelihood of the team’s success. The LinkedIn profile is a point of reference for professional accomplishments and official positions. But we can also learn more about a person from their personal accounts on Twitter, Facebook, and Medium etc. That is also a good way to follow along with the progress of the project. By investigating team members through as many means as possible, you will know how long they have been involved in cryptocurrency. If they have been around and active for a long time, they are that much more likely to be knowledgeable and capable of making better quality decisions in this business. It goes without saying that it is a huge red flag if it is too difficult to find information about the team members online, and worse still if the team members are anonymous. Relevant Factors to Consider in ICO process A good Whitepaper gives a detailed description of the project, the problems the team is going to solve, the timeframe projected, and methods to be used in the implementation of their ideas. If, in answering the question about what the project actually does, it seems the team is presenting ideas that are too complicated or advanced to understand, then you simply should not invest until you are satisfied you have been given the requisite level of insight to understand the concepts described. It is always possible that the whitepaper is nothing more than a salad of buzzwords and technical language intended to give the impression of competence while really doing nothing but obfuscate the truth. The whitepaper should clearly and concisely present the problems and the solutions needed. The whitepaper must give a solid and coherent answer as to who needs this project and why. Also, if the team have put no effort into explaining why a Blockchain solution is needed for this particular problem, or why such a solution is superior to its “real-world” equivalent, it is likely they are only in it for the money. We have more to say about red-flags later. While 2016 raised a comparatively small amount in comparison to the proceeding years, there were a few specific projects that raised significant amounts of capital. These are respectable amounts of money, even by today’s standards, and especially impressive when contrasted with the immaturity of the ICO market at the time, and relative to amounts raised in traditional IPOs. Waves ($16.4mill), Iconomi ($10.6mill) and Golem ($8.6mill) were the three largest fundraisings of the year. 2017 was the year of the ICO whales. Hdac ($258mill), Filecoin ($257mill), EOS Stage 1 ($185mill) and Paragon ($183.16mill) were the largest that year. To be able to raise so much money, so quickly, in such a new market, using such a new mechanism is truly incredible. 2017 was the year that proved ICOs are for serious individuals and institutional investors as well. We have also had some phenomenal amounts raised so far in 2018. Telegram ($1.7bill), Dragon ($320mill), Huobi ($300mill) and Bankera ($150mill). Telegram might be the first mainstream example of an ICO, not only by raising close to $2billion, which would be beyond incredible and impressive even by traditional IPO standards; but also, because it is one of the first ICO companies to tangibly put a product in the hands of hundreds of millions of users, and successfully compete against traditional companies such as Facebook (MessengeWhatsApp), Microsoft (Skype) and Tencent (WeChat). What is ICO main mechanisms and processes.? How to market STO? What are the best security tokens 2019? Follow the link to learn more: UBAI.co We can teach you how to do ICO and STO in 2019. Contact me via Facebook to learn more: Facebook
How to follow, study and keep up to date with the Ethereum project. This info or link might help with newbies or people you would like to send info to regarding what ethereum is.
Iv been asked to put together some info / links on the Ethereum Project by a few people lately that iv met or talked to and since its Sunday and i got a half day from work here it is: I emailed them and then pasted it here so sorry if its a bit clumped together. Cant get the grasp of how reddit breaks up sentances 8-() https://www.ethereum.org/ Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference. These apps run on a custom built blockchain, an enormously powerful shared global infrastructure that can move value around and represent the ownership of property. This enables developers to create markets, store registries of debts or promises, move funds in accordance with instructions given long in the past (like a will or a futures contract) and many other things that have not been invented yet, all without a middle man or counterparty risk. The project was bootstraped via an ether pre-sale during August 2014 by fans all around the world. It is developed by the Ethereum Foundation, a Swiss nonprofit, with contributions from great minds across the globe. Ethereum Blog: https://blog.ethereum.org/ Note: This is not investment advise, This email is just to show you what Ethereum is, what these 1000's of computer scientists, developers, programmers and hackers are building. A whole new internet run from millions of peoples computers all over the world to create the "Ethereum Virtual Machine" or world computer that 7 Billion people can log onto at the same time. It is censorship resistant, encrypted and the Ethereum Blockchain can not be hacked. This is going to change the world as we know it. There is a built in currency called "Ether" or "ETH" and can be purchased from any of many exchanges listed below. Note 2: ETC or Ethereum Classic is a smaller blockchain project that also uses the EVM (Ethereum Virtual Machine) and id advise to stay away from that project, it has not got the 1000's of developers building it like ETH does, it apparently has one or 2 developers that went their own way, The EVM can also run private and consortium blockchains that alot of big and small companies are building on for their inhouse private operations. Like a Intranet (intranet is a private network that is contained within an enterprise) Its very hard to understand at first what exactly blockchain is so here are some videos that i think explains it well: BBC 2015 https://www.youtube.com/watch?v=0X33lgMbvdI Ethereum: the World Computer https://www.youtube.com/watch?v=j23HnORQXvs An Ethereum Interview Series // Teaser from the recent Devcon2 https://www.youtube.com/watch?v=gHseIdJ0SJU What is Ethereum? https://www.youtube.com/watch?v=Clw-qf1sUZg&t=123s ETHEREUM explained in 100 seconds. https://www.youtube.com/watch?v=eRDKP8nCVtU Vitalik Buterin explains Ethereum https://www.youtube.com/watch?v=TDGq4aeevgY DEVCON1: Understanding the Ethereum Blockchain Protocol - Vitalik Buterin https://www.youtube.com/watch?v=gjwr-7PgpN8 2016 China Devcon2: Ethereum in 25 Minutes https://www.youtube.com/watch?v=66SaEDzlmP4&t=1s Joseph Lubin - The Basics of Blockchain and Etherum https://www.youtube.com/watch?v=0ilYnuP1qd4&t=50s DEVCON1: Ethereum for Dummies - Dr. Gavin Wood https://www.youtube.com/watch?v=U_LK0t_qaPo Blockchain is Eating Wall Street | Alex Tapscott | https://www.youtube.com/watch?v=WnEYakUxsHU How the mysterious dark net is going mainstream https://www.youtube.com/watch?v=pzN4WGPC4kc&t=378s The four pillars of a decentralized society | Johann Gevers https://www.youtube.com/watch?v=8oeiOeDq_Nc Gavin Wood: Why is Blockchain a game changer? https://www.youtube.com/watch?v=ygZWhQXZtl4&t=188s Brock Pierce: Blockchain technology https://www.youtube.com/watch?v=3lMvo0PPxjQ&t=619s 2014 Keiser Report: New Crypto Phenomenon Ethereum https://www.youtube.com/watch?v=hdAnyC45ZbU (starts at about 12 mins) Devcon2 Videos from 2016 https://www.youtube.com/channel/UCNOfzGXD_C9YMYmnefmPH0g/videos Devcon1 and other Ethereum Videos from 2014 & 15 https://www.youtube.com/useethereumproject/videos Soundcloud: (these are great with Arthur speaking directly to Developers that are building on Ethereum) The Ether Review - Arthur Falls https://soundcloud.com/arthurfalls ConsenSys Media - Arthur Falls https://soundcloud.com/consensys Evan Van Ness sends out "The week in Ethereum" latest here: http://www.weekinethereum.com/ Id highly recommend subscribing to his news letter here http://evanvanness.us14.list-manage1.com/subscribe?u=4c6ec57a148e890524b6ac91f&id=7061f7fa65 Ethereum Rules and Getting Started Guide https://www.reddit.com/ethereum/comments/4ws9um/rethereum_rules_and_getting_started_guide/ Reddit: https://www.reddit.com/ethereum/new/ News, development and everything apart from price. Most news about Ethereum can be found here daily https://www.reddit.com/ethtradenew/ price and trading discussions Ethereum News commentators i watch: Crypt0 https://www.youtube.com/useobham001/videos Mr Yukon C https://www.youtube.com/channel/UClfAgeZvfwC9hcJrFisW8cQ/videos Ethereum people to follow on twitter to get linked and fed important blockchain info: @SingularDTV @golemproject @ethcoreproject @MrYukonC @EthereumCanada @ConsenSysLLC @R3CEV @DigixGlobal @AugurProject @NickSzabo4 @ethereumJoseph @Gatecoin @aantonop @BobSummerwill @GeorgeAHallam @el33th4xor @awrelllRo @mingchan88 @peter_szilagyi @koeppelmann @LefterisJP @stephantual @wmougayar @jeffehh @TaylorGerring @avsa (there is plenty more i just don't have them on my twitter yet) To run a node from your computer you can download the "Ethereum Wallet" here: https://github.com/ethereum/mist/releases Instructions: How to Install the Ethereum Wallet https://www.youtube.com/watch?v=Y3JfLgjqNU4&t=7s How to Back up and load the Ethereum Wallet https://www.youtube.com/watch?v=CZ8ZCtbxD0M&t=2s How To Watch Tokens and Other Smart Contracts with the Ethereum Wallet https://www.youtube.com/watch?v=V_KJ84jkPi8 Ethereum and other blockchain project prices http://coinmarketcap.com/ There are many exchanges that trade Ether around the world http://coinmarketcap.com/currencies/ethereum/#markets Some ones i have used are: www.kraken.com Accepts Euro, Dollar, GBP etc.. by SEPA or international bank transfer and you can buy Ether www.poloniex.com (does not accept fiat but it is the largest volume for trading crypto pairs, I have used www.bitstamp.net in the UK to buy Bitcoin and then send them to Poloniex to swap for Ether ) www.yunbi.com A very good exchange based in China and have listed a few ethereum tokens, you need to swap through CNY (Chinese Yuan) but its easy and very good support. www.bittrex.com No Fiat but also lists some Ethereum Based tokens www.gatecoin.com Based in Hong Kong and you can send Euro and Dollar, Also lists alot of Ethereum Based tokens, Volume is very low at the moment as they recover from a hack but they offer very good support. The safest place to store you Ether is on a hardware wallet like this one https://www.ledgerwallet.com/products/12-ledger-nano-s. You can also store all you Ethereum based tokens or shares on this device https://ledger.groovehq.com/knowledge_base/topics/how-to-secure-your-eth-tokens-augur-rep-dot-dot-dot-with-your-nano-s The way "I view" the incentive to keep Ether (ETH) is the following and the reason i think it will go up in value is because of "The velocity of Ether moving through the Ethereum economy (Platform)". So the more Ether is used the higher the price will get and in a number of years will see us move down to the lower units finney, szabo, shannon, babbage, lovelace, and wei as the digital economy grows. Ether has 18 decimal places 1,000,000,000,000,000,000. Because after POS Ether total supply will be set at approx. 100 Million with a small inflation of 1 to 3% that pays the computers running it. So ether will be more like the reserve currency and trade currency between all the other currencies, contracts and Dapps interacting in the Ethereum digital economy. But its main function is like a gas to run the network. Every transaction you have to pay a tiny amount to the network that goes to all the computers running the network. less than 1 penny. Ethereum Based Tokens / Synthetic assets (What is a Synthetic Asset https://www.youtube.com/watch?v=St9DBpNBP1Q) On coinmarketcap.com you can see there are 642 other Blockchain projects listed and some like Bitcoin are 8 years old. 90%+ of these projects are junk projects developed by 1 or 2 people and are just copies of Bitcoin. Some have added extra functions over Bitcoin and Bitcoin is a very secure but slow payment DAPP but cant do much else besides payments. Ethereum was built from scratch and is built like lets say "android or a smart phone" so that DAPPS can be plugged in as you should have heard from the above videos. So there are now a good few DAPPS that are nearly completion that were built on the ethereum blockchain by different groups of developers. There are alot more but 328 are listed here: http://dapps.ethercasts.com/. So there is not just 643 blockchain projects there are over 1000 but all the ones on Ethereum can communicate or interoperate with eachother. Some notable ones you can see listed on coinmarketcap are Augur, Iconomi, DigixDAO, Golem, SingularDTV etc..... All these because they are built on the Ethereum blockchain can interact with eachother but the other 600+ blockchains can not. This is what makes Ethereum different from the rest. As DigixDAO is the one i have studied most ill give an example of a DAPP thats built on Ethereum and why a DAPP would be usefull In industry most work is automated, the operators no longer have to take process samples manually and send to the lab or go and top up a tank manually with certain additives, This is all done by automation, When the process is at a certain temperate, level, viscosity etc.. the instrumentation measures this and adds or pumps the necessary ingredients / additives to make sure the final product is made correctly. This automation has saved alot of costs and manual labour in industry. What Digix / blockchain is doing is automating alot of the back office paperwork, accounting, agreements etc... Example: company that owns a gold vault (Like Silver Bullion) have employees handling paperwork / sales etc and when people sell and buy gold it changes hands or changes registered ownership and the employees have to manually do this paperwork. What Digix provides is automated software that does all this automatically in 14 seconds. For billing / storage if you have gold stored in the vault you pay about 1% a year so you know if you have $10,000 worth of gold then you need to pay about $100 a year which you pay by topping up your gold (DGX) by $100 and its taken out automatically each day by a tiny tiny amount. The good thing is that if you have Gold Tokens as your savings instead of Fiat and you need to borrow $ short term you can borrow $ by agreeing to lock your Gold Tokens in a smart contract in the software and pay interest for that loan. If you pay back the loan over 3 months then the gold tokens are automatically returned to your address and you havent missed a gold rally or a Fiat devaluation. If you dont pay it back then the person who lent you the $ gets all your gold (or the % not paid) Again this process is automated in a smart contract and the bullion employee didnt have to settle all the paperwork, transfers of gold or get contracts and agreements signed by both parties, This is done by digital signature / agreements and saves the Vault operator alot of costs. The vault operator can also earn a bit of the loans interest and $ can be provided by them or even 3rd parties. Using the Ethereum blockchain this can be done for lots of different industries from banking, stocks, insurance, gambling, pritty much everywhere Other non Ethereum related Youtube people i follow, mainly Economics, Geo-politics, Gold / Silver etc.... These people give some very good info that you wont get from the big media companies or state media. Maybe this will help you understand why you should not keep 100% of your wealth in $ and maybe a few % is worth keeping in Crypto or ever Gold Physical or easier DGX (DigixDAO) or DGD. Greg Hunter https://www.youtube.com/useusawatchdog/videos Gerald Celente Trends in the News https://www.youtube.com/usegcelente/videos Gregory Mannarino https://www.youtube.com/useGregVegas5909/videos Realist News Jsnip4 https://www.youtube.com/usejsnip4/videos SGT Report https://www.youtube.com/useSGTbull07/videos Stefan molyneux https://www.youtube.com/usestefbot/videos X22 Report https://www.youtube.com/useX22Report/videos Clif High https://www.youtube.com/results?search_query=clif+high Noem Chomsky https://www.youtube.com/results?search_query=noem+chomsky Health Dr John Bergman https://www.youtube.com/usejohnbchiro/videos Nutrition Facts Org https://www.youtube.com/useNutritionFactsOrg/videos Any questions just ask
How to follow, study and keep up to date with the Ethereum project. This info or link might help with newbies or people you would like to send info to regarding what ethereum is.
Iv been asked to put together some info / links on the Ethereum Project by a few people lately that iv met or talked to and since its Sunday and i got a half day from work here it is: https://www.ethereum.org/ Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference. These apps run on a custom built blockchain, an enormously powerful shared global infrastructure that can move value around and represent the ownership of property. This enables developers to create markets, store registries of debts or promises, move funds in accordance with instructions given long in the past (like a will or a futures contract) and many other things that have not been invented yet, all without a middle man or counterparty risk. The project was bootstraped via an ether pre-sale during August 2014 by fans all around the world. It is developed by the Ethereum Foundation, a Swiss nonprofit, with contributions from great minds across the globe. Ethereum Blog: https://blog.ethereum.org/ Note: This is not investment advise, This email is just to show you what Ethereum is, what these 1000's of computer scientists, developers, programmers and hackers are building. A whole new internet run from millions of peoples computers all over the world to create the "Ethereum Virtual Machine" or world computer that 7 Billion people can log onto at the same time. It is censorship resistant, encrypted and the Ethereum Blockchain can not be hacked. This is going to change the world as we know it. There is a built in currency called "Ether" or "ETH" and can be purchased from any of many exchanges listed below. Note 2: ETC or Ethereum Classic is a smaller blockchain project that also uses the EVM (Ethereum Virtual Machine) and id advise to stay away from that project, it has not got the 1000's of developers building it like ETH does, it apparently has one or 2 developers that went their own way, The EVM can also run private and consortium blockchains that alot of big and small companies are building on for their inhouse private operations. Like a Intranet (intranet is a private network that is contained within an enterprise) Its very hard to understand at first what exactly blockchain is so here are some videos that i think explains it well: BBC 2015 https://www.youtube.com/watch?v=0X33lgMbvdI Ethereum: the World Computer https://www.youtube.com/watch?v=j23HnORQXvs An Ethereum Interview Series // Teaser from the recent Devcon2 https://www.youtube.com/watch?v=gHseIdJ0SJU What is Ethereum? https://www.youtube.com/watch?v=Clw-qf1sUZg&t=123s ETHEREUM explained in 100 seconds. https://www.youtube.com/watch?v=eRDKP8nCVtU Vitalik Buterin explains Ethereum https://www.youtube.com/watch?v=TDGq4aeevgY DEVCON1: Understanding the Ethereum Blockchain Protocol - Vitalik Buterin https://www.youtube.com/watch?v=gjwr-7PgpN8 2016 China Devcon2: Ethereum in 25 Minutes https://www.youtube.com/watch?v=66SaEDzlmP4&t=1s Joseph Lubin - The Basics of Blockchain and Etherum https://www.youtube.com/watch?v=0ilYnuP1qd4&t=50s DEVCON1: Ethereum for Dummies - Dr. Gavin Wood https://www.youtube.com/watch?v=U_LK0t_qaPo Blockchain is Eating Wall Street | Alex Tapscott | https://www.youtube.com/watch?v=WnEYakUxsHU How the mysterious dark net is going mainstream https://www.youtube.com/watch?v=pzN4WGPC4kc&t=378s The four pillars of a decentralized society | Johann Gevers https://www.youtube.com/watch?v=8oeiOeDq_Nc Gavin Wood: Why is Blockchain a game changer? https://www.youtube.com/watch?v=ygZWhQXZtl4&t=188s Brock Pierce: Blockchain technology https://www.youtube.com/watch?v=3lMvo0PPxjQ&t=619s 2014 Keiser Report: New Crypto Phenomenon Ethereum https://www.youtube.com/watch?v=hdAnyC45ZbU (starts at about 12 mins) Devcon2 Videos from 2016 https://www.youtube.com/channel/UCNOfzGXD_C9YMYmnefmPH0g/videos Devcon1 and other Ethereum Videos from 2014 & 15 https://www.youtube.com/useethereumproject/videos Soundcloud: (these are great with Arthur speaking directly to Developers that are building on Ethereum) The Ether Review - Arthur Falls https://soundcloud.com/arthurfalls ConsenSys Media - Arthur Falls https://soundcloud.com/consensys Evan Van Ness sends out "The week in Ethereum" latest here: http://www.weekinethereum.com/ Id highly recommend subscribing to his news letter here http://evanvanness.us14.list-manage1.com/subscribe?u=4c6ec57a148e890524b6ac91f&id=7061f7fa65 Ethereum Rules and Getting Started Guide https://www.reddit.com/ethereum/comments/4ws9um/rethereum_rules_and_getting_started_guide/ Reddit: https://www.reddit.com/ethereum/new/ News, development and everything apart from price. Most news about Ethereum can be found here daily https://www.reddit.com/ethtradenew/ price and trading discussions Ethereum News commentators i watch: Crypt0 https://www.youtube.com/useobham001/videos Mr Yukon C https://www.youtube.com/channel/UClfAgeZvfwC9hcJrFisW8cQ/videos Ethereum people to follow on twitter to get linked and fed important blockchain info: @SingularDTV @golemproject @ethcoreproject @MrYukonC @EthereumCanada @ConsenSysLLC @R3CEV @DigixGlobal @AugurProject @NickSzabo4 @ethereumJoseph @Gatecoin @aantonop @BobSummerwill @GeorgeAHallam @el33th4xor @awrelllRo @mingchan88 @peter_szilagyi @koeppelmann @LefterisJP @stephantual @wmougayar @jeffehh @TaylorGerring @avsa (there is plenty more i just don't have them on my twitter yet) To run a node from your computer you can download the "Ethereum Wallet" here: https://github.com/ethereum/mist/releases Instructions: How to Install the Ethereum Wallet https://www.youtube.com/watch?v=Y3JfLgjqNU4&t=7s How to Back up and load the Ethereum Wallet https://www.youtube.com/watch?v=CZ8ZCtbxD0M&t=2s How To Watch Tokens and Other Smart Contracts with the Ethereum Wallet https://www.youtube.com/watch?v=V_KJ84jkPi8 Ethereum and other blockchain project prices http://coinmarketcap.com/ There are many exchanges that trade Ether around the world http://coinmarketcap.com/currencies/ethereum/#markets Some ones i have used are: www.kraken.com Accepts Euro, Dollar, GBP etc.. by SEPA or international bank transfer and you can buy Ether www.poloniex.com (does not accept fiat but it is the largest volume for trading crypto pairs, I have used www.bitstamp.net in the UK to buy Bitcoin and then send them to Poloniex to swap for Ether ) www.yunbi.com A very good exchange based in China and have listed a few ethereum tokens, you need to swap through CNY (Chinese Yuan) but its easy and very good support. www.bittrex.com No Fiat but also lists some Ethereum Based tokens www.gatecoin.com Based in Hong Kong and you can send Euro and Dollar, Also lists alot of Ethereum Based tokens, Volume is very low at the moment as they recover from a hack but they offer very good support. The safest place to store you Ether is on a hardware wallet like this one https://www.ledgerwallet.com/products/12-ledger-nano-s. You can also store all you Ethereum based tokens or shares on this device https://ledger.groovehq.com/knowledge_base/topics/how-to-secure-your-eth-tokens-augur-rep-dot-dot-dot-with-your-nano-s The way "I view" the incentive to keep Ether (ETH) is the following and the reason i think it will go up in value is because of "The velocity of Ether moving through the Ethereum economy (Platform)". So the more Ether is used the higher the price will get and in a number of years will see us move down to the lower units finney, szabo, shannon, babbage, lovelace, and wei as the digital economy grows. Ether has 18 decimal places 1,000,000,000,000,000,000. Because after POS Ether total supply will be set at approx. 100 Million with a small inflation of 1 to 3% that pays the computers running it. So ether will be more like the reserve currency and trade currency between all the other currencies, contracts and Dapps interacting in the Ethereum digital economy. But its main function is like a gas to run the network. Every transaction you have to pay a tiny amount to the network that goes to all the computers running the network. less than 1 penny. Ethereum Based Tokens / Synthetic assets (What is a Synthetic Asset https://www.youtube.com/watch?v=St9DBpNBP1Q) On coinmarketcap.com you can see there are 642 other Blockchain projects listed and some like Bitcoin are 8 years old. 90%+ of these projects are junk projects developed by 1 or 2 people and are just copies of Bitcoin. Some have added extra functions over Bitcoin and Bitcoin is a very secure but slow payment DAPP but cant do much else besides payments. Ethereum was built from scratch and is built like lets say "android or a smart phone" so that DAPPS can be plugged in as you should have heard from the above videos. So there are now a good few DAPPS that are nearly completion that were built on the ethereum blockchain by different groups of developers. There are alot more but 328 are listed here: http://dapps.ethercasts.com/. So there is not just 643 blockchain projects there are over 1000 but all the ones on Ethereum can communicate or interoperate with eachother. Some notable ones you can see listed on coinmarketcap are Augur, Iconomi, DigixDAO, Golem, SingularDTV etc..... All these because they are built on the Ethereum blockchain can interact with eachother but the other 600+ blockchains can not. This is what makes Ethereum different from the rest. As DigixDAO is the one i have studied most ill give an example of a DAPP thats built on Ethereum and why a DAPP would be usefull In industry most work is automated, the operators no longer have to take process samples manually and send to the lab or go and top up a tank manually with certain additives, This is all done by automation, When the process is at a certain temperate, level, viscosity etc.. the instrumentation measures this and adds or pumps the necessary ingredients / additives to make sure the final product is made correctly. This automation has saved alot of costs and manual labour in industry. What Digix / blockchain is doing is automating alot of the back office paperwork, accounting, agreements etc... Example: company that owns a gold vault (Like Silver Bullion) have employees handling paperwork / sales etc and when people sell and buy gold it changes hands or changes registered ownership and the employees have to manually do this paperwork. What Digix provides is automated software that does all this automatically in 14 seconds. For billing / storage if you have gold stored in the vault you pay about 1% a year so you know if you have $10,000 worth of gold then you need to pay about $100 a year which you pay by topping up your gold (DGX) by $100 and its taken out automatically each day by a tiny tiny amount. The good thing is that if you have Gold Tokens as your savings instead of Fiat and you need to borrow $ short term you can borrow $ by agreeing to lock your Gold Tokens in a smart contract in the software and pay interest for that loan. If you pay back the loan over 3 months then the gold tokens are automatically returned to your address and you havent missed a gold rally or a Fiat devaluation. If you dont pay it back then the person who lent you the $ gets all your gold (or the % not paid) Again this process is automated in a smart contract and the bullion employee didnt have to settle all the paperwork, transfers of gold or get contracts and agreements signed by both parties, This is done by digital signature / agreements and saves the Vault operator alot of costs. The vault operator can also earn a bit of the loans interest and $ can be provided by them or even 3rd parties. Using the Ethereum blockchain this can be done for lots of different industries from banking, stocks, insurance, gambling, pritty much everywhere Other non Ethereum related Youtube people i follow, mainly Economics, Geo-politics, Gold / Silver etc.... These people give some very good info that you wont get from the big media companies or state media. Maybe this will help you understand why you should not keep 100% of your wealth in $ and maybe a few % is worth keeping in Crypto or ever Gold Physical or easier DGX (DigixDAO) or DGD. Greg Hunter https://www.youtube.com/useusawatchdog/videos Gerald Celente Trends in the News https://www.youtube.com/usegcelente/videos Gregory Mannarino https://www.youtube.com/useGregVegas5909/videos Realist News Jsnip4 https://www.youtube.com/usejsnip4/videos SGT Report https://www.youtube.com/useSGTbull07/videos Stefan molyneux https://www.youtube.com/usestefbot/videos X22 Report https://www.youtube.com/useX22Report/videos Clif High https://www.youtube.com/results?search_query=clif+high Noem Chomsky https://www.youtube.com/results?search_query=noem+chomsky Health Dr John Bergman https://www.youtube.com/usejohnbchiro/videos Nutrition Facts Org https://www.youtube.com/useNutritionFactsOrg/videos Any questions just ask
boldninja All welcome @breitwoman (Kathleen) and @rawzeee (Ross) from Tezos.com - today they will answer any of your questions regarding their upcoming project breitwoman By way of introduction, I am Kathleen Breitman, the CEO of the company which created Tezos. I am tag teaming this with @rawzeee, who works for the Swiss Foundation which will be responsible for running the crowdsale later this month. Ross will handle crowdsale-specific questions. rawzeee Hello! Greetings from Zug! jamiec79 :wave: breitwoman Very jealous of Ross right now, Zug is gorgeous techbytes Welcome. rawzeee I saw a man playing an alphorn in front of UBS today. Most Swiss thing I could've imagined possible. arkvader Greetings from far far away.... tranzer Hi Tezos! I have 1st question, by the looks of it Tezos will be in OCaml right? Why did you decide on OCaml? Are there any advantages over other languages? mike Hi Kathleen and Ross, good to see you. moobox hello Tezos people breitwoman @tranzer great question. we wrote the protocol in OCaml. It was a confluence of a few things... Pragmatically, we found a great team with an emphasis on OCaml based in France and Arthur (CTO) is a French national so it was possible to work with them pretty seamlessly. On the technical side, OCaml is a great PL for writing code that can later be formally verified. Security and consistency of execution are two principles we tried to optimize for and OCaml lends itself well to those goals. See also section 1.4: https://tezos.com/static/papers/position_paper.pdf (edited) dr10 hello tezos breitwoman howdy all! dr10 How would you shortly & easy-to-understand sum-up the advantages of TEZOS to magazines and non-crypto people? tranzer What consensus system will you use? Like PoS or some hybrid? Will there be any rewards for signing blocks? breitwoman My TL;DR runs on two talking points -- Tezos is a new blockchain that aims to create a robust governance model by allowing token-holders to come to consensus on protocol upgrades but also preserve rules over time by using mathematical proofs. Unlike previous blockchains, it can deploy upgrades to the network in an elegant and seamless way. @tranzer we have our own POS algo. We have nominal inflation in the protocol to incentivize participation. dr10 So in easy words, Tezos is built to easily adapt to any technic innovations? breitwoman @dr10 yes, it was borne out of the first alt coin craze when everyone deployed a new token to instantiate even the most marginal improvement dr10 okay breitwoman Tezos wants to preserve network effects while keeping pace with innovation dr10 Your whitepaper has very tech-heavy language. So I'd like to ask questions that are stupid and simple. :smile: What are the three crypto-currencies that are most similar to yours and yet why is Tezos different? breitwoman Yeah, the position paper is more accessible dr10 yeah i've read them all breitwoman 1. Decred. Though they don't push automatic upgrades and they can't introspect on the protocol. 2. Dash. Though they also don't push automatic upgrades, can't introspect, and I think their funding model is a little backwards. 3. Ethereum has a lot of similar technical goals but no formal, on-chain governance model. We made our protocol with a bigger emphasis on formal verification and security. someonesomeone Hi guys! dr10 thank you! and hi someone :smile: In your position paper you state "Tezos truly aims to be the last cryptocurrency." No matter what innovations other protocols produce, it will be possible for Tezos stakeholders to adopt these innovations" - Can Tezos implement any future innovations within its code? Wether its a new programming code, artificial intelligence or implementing big data of anything? i wondered about that i am a no-coder so I dont grasp everything tranzer How much do you aim to raise in your ICO will there be any minimum or maximum? Will it be normal proportional auction or fixed price per token? breitwoman @dr10 obviously limitations to anything that a blockchain can do... it can't solve poverty or hunger, but we made the code with a very modular design that allows for a lot of flexibility someonesomeone @breitwoman do you plan on doing a smartbridge with Ark? Or any other partnerships with them? :wink: dr10 yeah but I am wondering about future innovations like artificial intelligence, if that can somehow be implemented. breitwoman @smartbridge good question. I like Ark but I'm not familiar enough with what they're up to... open to all sorts of things though! dr10 My theory is that these future innovations will be interconnected by cryptocurrency breitwoman @dr10 So, our CTO is a bona fide expert in AI and he doesn't think there are a lot of synergies with AI and blockchains dr10 What is block target time? What is transaction speed? How many confirmations are needed? Couldnt see that / find that... maybe I oversaw :smile: breitwoman but we'll keep our eyes peeled dr10 okay someonesomeone @breitwoman cool. Ark is doing a great job from what I can gather and I am pretty sure that I will also invest into your ICO, since your project also looks very interesting breitwoman @dr10 I think that's all referenced in the white paper, which was recently updated! soporificprose Can you answer Tanzer... I have same questions. breitwoman That's a good question for @rawzeee dr10 okay, maybe I oversaw. I have read them all. no problem In your Whitepaper you state "Bitcoin, Ethereum, Cryptonote, etc. can all be represented within Tezos by implementing the proper interface to the network layer." Does this mean you try to interconnect all those cryptocurrencies? (edited) breitwoman @dr10 we're targeting 1 minute between blocks. We haven't set a blocksize yet, but we'll her on the side of caution at first. It's better to raise the blocksize through the amendment mechanism once we are confident in the network's throughput. jakethepanda Will users be able to issue asset tokens and build on top of Tezos? breitwoman @dr10 no, that's more like Cosmos... a different but cool project dr10 ark is doing that too :smile: rawzeee There is no minimum or maximum, though if only a few million were raised stakeholders would be asked whether or not they wanted to offer another TGE (Token Generation Event) to newcomers. Fixed price of 1 BTC to 5000 XTZ (tezzies), plus a descending bonus from 20% to 0% in 5% intervals every 400 BTC blocks. The entire TGE lasts 2000 BTC blocks. tranzer How much do you aim to raise in your ICO will there be any minimum or maximum? Will it be normal proportional auction or fixed price per token? Posted in #trading_altcoinsToday at 7:12 PM dr10 I didnt find on that one, or didnt look too deep. What are the references of you and your team members? On what projects did you work before? breitwoman @jakethepanda yes, they will but we think it's a better idea to propose those features that you'd find in an appcoin as a first class citizen rawzeee Yes, was typing the answer up! It's posted now. soporificprose Can you answer Tanzer... I have same questions. Posted in #trading_altcoinsToday at 7:15 PM breitwoman @dr10 I'm a pretty open book... I've worked in finance at a hedge fund and a VC, then in consulting... Arthur worked in high frequency trading for many years at places like Goldman and Morgan. Our developers are very academic dachshund what type of role/influence do your initial investors (polychain, etc) have in the overall governance of the network, if any dr10 What is the Payment for ICO? Paying in ETH or BTC or any other and how much will one Token cost? breitwoman Technically, none. We sold a nominal amount of tokens to a large group of people. They have the same status as any other participant but got a slight discount over the crowdsale price for tying up their capital for several months. techbytes that include Tim Draper? breitwoman I solicit their advice a lot though... it's a really savvy bunch and I was a one-woman band on the operational side. raolin Hey Kathleen - has your team given anymore thought to the post ICO mission? Roadmap? Additional team expansion? soporificprose Are they restricted from selling for a certain length of time? breitwoman no @raolin check out our outline at the end of our presentation https://www.tezos.com/static/papers/Tezos_Overview.pdf tranzer How much was sold to those pre-ico funders? breitwoman All in here guys: https://www.tezos.com/static/papers/Tezos_Overview.pdf 612k at an avg 31% discount rawzeee I listed the BTC ratio above. It's 1 BTC for 5000 XTZ (tezzies) plus a bonus or lack thereof based upon time periods. If you choose to use fiat Bitcoin Suisse AG who is administering the TGE (check their rates and your jurisdiction) they will peg it to BTC. Ether is pegged to BTC and will be accepted at the median (from Poloniex, Kraken, and GDAX) of the last three trade prices utilizing the ETH/BTC pair before the timestamp of the Ethereum block at the time of contribution. It’ll be offered on a best-effort basis and for convenience. If you want certainty contribute with Bitcoin. Otherwise you accept the risk that the exchange rate you'll get may not be precisely what you see on the screen at the moment of your contribution. You may also use other coins via ShapeShift. (edited) dr10 you will hit poloniex, kraken and gdax? when? rawzeee That is referring to the peg of ETH to BTC. all XTZ are pegged to the BTC price for the TGE. dr10 ah ok rawzeee I'm an acronym storm over here! dr10 Is there already some plan or future business relationship with merchants, exchanges or anything that Tezos could be used as a payment method? Anything you want to share already? dachshund What were your considerations when deciding to make the ICO un-capped? Any concerns regarding the impact there could be on the price once this starts trading (i.e. no price discovery) breitwoman @dr10 we've been talking to two exchanges for several months. I'm pretty confident Tezos won't have trouble on that front. I have two partnerships in the works that I'm excited about but shouldn't discuss yet. soporificprose Curious whether pre-ICO investors paid with BTC or fiat? breitwoman @dachshund it's primarily about fairness and distribution. ryano Are you familiar with BOScoin? They once were also using ocaml not sure if they stuck with that. Any comments on the benefits relative to each other breitwoman @soporificprose fiat dr10 Can everyone that holds a Tezos token vote on a proposal? Do they have to pay or temporaily lock in the Tokens? How does it work? It sounds like everyone can vote directly, right? ryano Also i thought Tezos was using delegate proof of stake is this no longer or never was the case ? breitwoman @ryano that's news to me. I have not gotten a straight answer from them on any technical questions rawzeee The reasoning for the uncapped TGE here is that the platform is almost entirely done (not an ICO for a white paper) and it is desired that a robust network is built rather than a few fast fingers buying up the entire TGE in minutes or hours. This is particularly important given how governance will work on Tezos. breitwoman @ryano we are using delegated proof of stake, @dr10 that means you can delegate your responsibilities to someone else if you don't want to be an active participant dr10 I see What is the Prediction Market about that you want to implement regarding "Futarchy"? I didnt get that right away mike Tezos form of DPoS looks very similar to proxy voting, like Liquid Democracy. breitwoman @mike yes, it is good catch soporificprose So their 30% discount was based on the price of BTC at that point? That would make it a much bigger actual discount yo current BTC to 5,000 TZE breitwoman @soporificprose pardon? no, it was all denominated in dollars the sale is denominated in BTC mike I want to add that to Ark at some point as well. dr10 What is the practical advantage to decentralized, atomated upgrades - compared to lets say Litecoin's Segwit Process? breitwoman @dr10 yeah I'd read this piece from Robin Hanson first http://mason.gmu.edu/~rhanson/futarchy.html ... but basically you'd run a predicition market with a prompt like "What do you think would be the best feature for Tezos" with many choices and whatever gets the popular vote would be implemented. dr10 And this predicting/voting will happen inside the wallet? mike ryano has some very interesting ideas on ranked voting. Have you looked into ways to combine ranked with proxy voting? breitwoman @dr10 we think defaults matter. upgrading protocols is cumbersome in existing blockchain implementations and it causes stasis tranzer Is wallet and whole network already developed (since you said platform is ready) ? sibars @rawzeee Sorry newbie question: Can you please explain in details how the TGE will work on day one?... I download the wallet fist, send you my BTC and then you send me the Tezzies? breitwoman @mike not closely. we think our first implementation, a straight vanilla two phased vote, is too simplistic. I'd like to discuss more sophisticated mechanisms if you've thought them through! I know Arthur loves him some futarchy but I'm not as big of a fan mike that would be a great discussion, look forward to exploring voting systems with you. we plan to try them on bridged chains which can be run as experiments. breitwoman @mike that's awesome dr10 xD Tezos focusses also on faster smart contracts as I understood, right? breitwoman @dr10 more secure, not necessarily faster dr10 okay breitwoman our smart contract language, Michelson, was created with formal verification in mind mike That named after the Michelson of Michelson-Morley Interferometer? (edited) dr10 And it uses ZeroCash as privacy mechanism? Or the whitepaper only compared to it and you use something different? I couldnt identify that breitwoman @mike you got it! https://en.wikipedia.org/wiki/Albert_A._Michelson Wikipedia Albert A. Michelson Albert Abraham Michelson (surname pronunciation anglicized as "Michael-son", December 19, 1852 – May 9, 1931) was an American physicist known for his work on the measurement of the speed of light and especially for the Michelson–Morley experiment. In 1907 he received the Nobel Prize in Physics. He became the first American to receive the Nobel Prize in sciences. (177kB) dachshund is there something similar to "gas" in tezos that controls for computation of each program, or how do you get around that? rawzeee @sibars No worries at all. There is a dedicated TGE site (register for updates at www.tezos.com). It'll guide you through the process. You'll generate a paper wallet (easy click through) with seed words. You can save it to a drive and/or print it (probably most secure). You'll verify your wallet number and password you created to generate it, then make your purchase to your wallet #. You can then verify it and make sure it's reflected in the wallet. It'll be simple and easy with a nice interface. breitwoman @dr10 not yet but Zooko is an advisor and we have spoken about integration. we are more interested in STARKs, the next gen of zero-knowledge dr10 I see breitwoman @dachshund yes, we have the concept of gas as well dr10 I guess you already answered that: In your Whitepaper you say: Crypto-currencies suffer from the same fate as smartphones which are incompatible with one another; they derive their value from a network effect, or the number of users who have given it value. - ARK will connect all Crypto-currencies by SMARTBRIDGING. Can you imagine working with ARK Smartbridge in your protocol aswell? yeah you did :smile: sibars @rawzeee Thanks :) dr10 More secure Smart Contracts, automatic upgrades in a DPoS model. Any other main focusses or any other attributes you want to innovate or improve compared to other cryptos? tranzer So will Tezos offer assets on their blockchain like ethereum? breitwoman @dr10 well, I think that covers the main talking @tranzer we can, but we think it's more powerful to integrate at the protocol level dachshund how has traction been within the developer community? I imagine there isn't a limitless pool of developers with the required technical expertise, so you must be expecting to take away from other networks? mike This is a good overview as well, for those who haven't seen it, https://tezos.com/static/papers/Tezos_Overview.pdf (edited) geops This all sounds great. The only thing that bothers me is the 1min block time. That seems like a step back compared to modern blockchains. Any goals to improve that? breitwoman @dachshund we have a very powerful core team. we think our choice of programming language was a good magnet and filter effects. we haven't sourced from other blockchain communities @geops yeah, that's all pretty flexible tranzer What is your budgeting plan if you get like 20m how long will that be for? 5 years? More? geops If you look at integrating with ARK smartbridge tech, you'll sure get lots of investors from here :slightly_smiling_face: breitwoman @tranzer we go over this a bit in our recent presentation: https://tezos.com/static/papers/Tezos_Overview.pdf check out the second to last page tranzer Yeah I'd like to see that as well geops, @fixcrypt is amazing developer from what I have seen so far breitwoman @geops yeah, totally something we should explore. we're a small team so any partnerships or serious integration have been tabled for later But I like the idea of ARK and I like what I've seen... so very open to this! tranzer Must say I like what I'm hearing here will definately invest a few btc dr10 yes me too geops definitely good ideas breitwoman Cool, glad to hear it! dr10 I think the future of blockchains will be in partnerships too tranzer dr10 I think so as well that is why I invested in ARK in first place too much competiting and too little cooperation (in other projects) (edited) rawzeee Hooray! Happy y'all may participate in the TGE. geops maybe you guys should sit down with @mike and @fixcrypt and discuss possible future collaborations. (edited) mike Yes, I like the vision laid out by Andreas Antonopolis of many thousands or more of specialized tokens and chains for different applications. tranzer OK so last question from me that 20% bonus will be for entire 400 first BTC blocks when you start? jacob breitwoman: Quadratic voting might work for Tezos (http://ericposner.com/quadratic-voting/) ERIC POSNER Quadratic voting Glen Weyl has uploaded a new version of his paper, Quadratic Voting (written with Steven Lalley), to SSRN, which now includes the completed proofs. Quadratic voting is the most important idea for l… Dec 30th, 2014 at 3:57 PM breitwoman good question for @rawzeee rawzeee @tranzer yes, indeed! breitwoman @jacob yes, that's something we've considered mike Glad to see you have Johann Gevers on board, is he active with the foundation? breitwoman we didn't want to be prescriptive with v1, so we made it very easy to understand rawzeee So there is about two days to get that bonus. Then 15% for the same period and so on. breitwoman @mike yes, he's the director. and he's awesome. total mensch and very philosophically committed to our project rawzeee I actually had a meeting with Johann today in Zug. mike Really like Monetas, glad to see there doing well, and the creation of the Zug crypto environment is fantastic. breitwoman @mike we went through a lot of ups and downs while developing Tezos. basically nobody cared about us for a while, until the DAO basically. Johann always encouraged us to keep going. yeah, the crypto valley is a brilliant concept rawzeee It's pretty magical. tranzer You living there? breitwoman @tranzer I'm US-based rawzeee I'm just here for awhile. Also US-based. nikandro Hi all, sorry if this has already been discussed, but have you spoken with any exchanges about adding Tezos? breitwoman @nikandro yes, but it's a pretty convoluted process one nice thing about tezos is that exchanges can act as delegates, which creates great incentives nikandro Do you expect to have any clarity on that prior to the ICO? tranzer How can exchanges act as delegates? breitwoman not sufficient to make an announcement but it's really not something I worry about techbytes really. Than perhaps Poloniex will add tezos. :slightly_smiling_face: breitwoman @tranzer you can assign your validation to an exchange's address nikandro While im interested in developing more than anything, I also understand that trading is a good tool for price discovery, which is critical. ryano You shouldn't have any trouble getting on an exchange and would be a low priority area to spend your energy while in development breitwoman they have to volunteer of course @nikandro of course, completely agree. Arthur was a market maker on Wall Street for 10 years he thinks about this... a lot @ryano that's what I've heard but people like to be assured that the token will have a marketplace, which is reasonable It does take a lot of energy and I've been lagging on that front Security and legal concerns were priority #1, we can iterate and grow the team pretty rapidly after the sale Having the Foundation build out and assume responsibilities for promoting the protocol will be much better than my one woman band :slightly_smiling_face: mike I'd expect Bittrex no problem. jakethepanda First alt-coin you bought? mike mastercoin nikandro Sorry to push the matter, but does this mean there will be no marketplace for Tezos after the ICO? breitwoman @nikandro apparently there will be a futures market running mike they can't announce if they did - exchanges have NDAs disallowing coins from announcing, leaving it up to the exchanges. djselery lol, even if they had an exchange lined up right now they probly couldnt talk about it nikandro @djselery , right, and I'm not asking for specifics, just wondering if implementation is in the pipeline. breitwoman @nikandro it is insofar as we have had many conversations/back and forth and its been very positive I can't say much else other than it's a cumbersome process nikandro Okay, thanks @breitwoman jakethepanda I'm sure Tezos will be on an exchange. I don't think that's even an issue. nikandro @jakethepanda I agree, I was just inquiring about the timeline and I think @breitwoman cleared that up. Many thanks. jakethepanda @breitwoman Pizza or Sushi? breitwoman @jakethepanda that's relative to location. In NY, I prefer pizza. Everywhere else, sushi :slightly_smiling_face: rawzeee^ good answer. jakethepanda Tesla or Mercedes? mward So @breitwoman 5000 TEZOS = 1 btc? and 20% discount for firat 400 btc raised dachshund will you be growing the team in NY, is mostly based in europe? nikandro For sure! In brooklyn, I do the dollar slice ride. Bike around to each vendor that sells dollar slices. yay, pizza! breitwoman To drive? Mercedes. Tesla's still don't have the handle I like :slightly_smiling_face: @dachshund they're based in Europe, primarily but I don't have any plans to leave the US sibars by the way, who designed the Tezos logo? rawzeee @mward no. 400 is the BTC blocks mined for the first bonus period; it's a time thing. But the ratio you've cited is correct. And then the bonus rate decreases by 5% every 400 blocks until 2000 BTC blocks are mined. (edited) breitwoman It's a character we found by looking through some libraries. I think it's a TZ symbol from a language that uses that combination often mward @rawzeee when will it start? rawzeee Though not a discount. It's a bonus. May 22nd at 6am UTC. mward thank you breitwoman Hey guys, I have to hop on a call in a little. 2 more questions and I'll have to wrap this up! moobox I don't have a question but i wish your group bon chance or however the French say . tranzer So little women in here stay a little longer :sob: ryano Thanks for hanging out and answering questions! jakethepanda Thanks @breitwoman http://slack.tezos.com/ breitwoman @moobox vielen dank @tranzer haha, I'll be back! moobox salutes like Benny Hill rawzeee The subreddit is where a lot of discussion happens too: https://reddit.com/tezos reddit tezos.com • tezos reddit: the front page of the internet techbytes Great AMA session. Thanks for stopping by and answering all the questions. Good luck on the project and I look forward to investing. breitwoman @ryano thanks for having me! and the very cordial convo boldninja @breitwoman thank you for taking the time for this AMA - I was just lurking, but all what I would ask was answered. I wish you all the best with ICO and I hope ARK and Tezos cooperate in the future. breitwoman Thanks guys! Yeah, feel free to bolster our Reddit mward Aurrevoir! dr10 thank you very much :smile: rawzeee Yes, thanks much everyone! So long! breitwoman @boldninja great to hear it! @dr10 thanks for the solid qs, really appreciate it dr10 np :smile: mike Thanks for stopping by, both of you, and taking the time to chat with us. look forward to participating in Tezos.
Bitcoin complementary crypto platform "Open Transactions" founders are ramping things up with their startup "monetas.net". Official investor update.
2013-03-25 With the first days of spring we bring good news about our progress at Monetas. On Tuesday last week, we had the biggest breakthrough for Monetas since our founding last April. We agreed a deal with our first institutional investor. They are in the process of obtaining their financial institution license from the European Union and will be using our software platform to develop next-generation financial services for their customers. They decided on our solution after years of searching worldwide for a system that could meet their needs. In addition to being our largest investment to date (about USD 200,000), the deal includes profit share (10% of their net profits), plus promoting Monetas to their weekly audience of over 300,000 individuals. This deal will greatly boost our credibility and visibility in key target markets, and make it much easier to raise money going forward. Next month we're releasing our mobile app for iPhone—months earlier than projected in our business plan. This first release will enable users to instantly send and receive money to anyone in the world, securely and privately—and far more cheaply than possible until now. Smart contracts and additional advanced features will be added in coming months. To be ready for the launch of our mobile app—and in line with our decentralized software design and business philosophy—we now have our first independent server operators starting up—one based in Canada and a potential second one based in Norway. These server operators are independent businesses that run our server software for profit—signing user transactions for a small transaction fee. We've made excellent progress the past few months developing important new features that add critical functionality and make it far easier for developers to install and use our system, generating increasing buzz in the developer community: *Our new ultra-high-level API is now available in all languages, enabling transactions with a single line of code. *Completed the design of our audit protocol, which further improves the security of our system and greatly extends its potential applications, including traditional banking and trading. *Completed our next-generation credentials system that enables integration with existing authentication systems while avoiding the vulnerabilities of traditional CA (certificate authority) systems. *Improved our smart contracts functionality, including escrow and trading features. *Making good progress on our systray app, which will enable the ubiquitous use and integration of our wallet with any financial application running on the computer desktop. *Completed our digital cash abstraction layer, which allows users to switch between different digital cash systems. *Completed our cryptographic abstraction layer, which allows users to switch between different cryptographic systems, and also makes it easy for third parties to audit our cryptographic code. *Developed high-level architectural models of our software as part of upgrading our system to enterprise-class and ISO 9000 standards. Building on this momentum, we'll soon release our first "ubiquity plugins" (plugins for internet browsers, telephony applications, Skype, etc.) that will make our platform universally available to users across all devices and applications, allowing us to truly become the global platform for financial and legal transactions, as well as make our mark in the entirely new market of resource allocation created by our technology. On the business side, we've developed an ingenious new revenue model that will allow us to give away our software for free, thus dramatically boosting adoption, opening up additional markets in financial trading and other areas, and further improving our ability to establish Monetas as the global platform for financial and legal transactions. We're also taking further steps in the ongoing process of developing and implementing cheaper, faster, better organizational and production models that will further cut costs, speed delivery, and improve product quality and service. Stay tuned for details on these innovations in future updates. Our system continues to gain positive media mentions. Economist Peter Surda, an expert on the Bitcoin economy, said a few days ago that our system is one of only two systems he knows of that could significantly extend the use of Bitcoin. Our timing couldn't be better. 2013 is turning into the breakthrough year for Bitcoin and related systems that offer alternatives to the traditional banking and financial systems: *More and more businesses are accepting Bitcoin, including prominent, large multinationals such as WordPress and Fulfilment by Amazon. *More and more businesses are paying their employees in Bitcoin. *Last week, the US Department of the Treasury's FinCEN unit declared Bitcoin officially legal. *Sparked by the crisis in Cyprus, Bitcoin mobile apps are hitting all-time highs, especially in countries at risk, such as Spain. *Reflecting growing adoption, the price of Bitcoin has gone up fifteen times in less than a year, rising from USD 5 to USD 75, and is accelerating exponentially. *Bitcoin businesses are reporting record-breaking transaction volume and revenue. *Venture capitalists are starting to pour money into Bitcoin startups: Chi-Hua Chien, general partner at Kleiner Perkins Caulfield Byers, a top Silicon Valley VC, tweeted today: "I'm interested in anything and everything Bitcoin right now. If you're starting a company in the space, please contact me." In other words, Monetas is about to explode onto the digital finance scene, offering a superior solution just at the time that: *Masses of people are desperately looking for an alternative to the traditional banking system *Bitcoin is hitting the mainstream. *Venture capitalists are starting to pour money into Bitcoin startups. The stream of inquiries from potential customers, investors, and the media is now increasing to the point where we can barely keep up. Our progress is exceeding our expectations, and we've done so on a faster timeline, with lower costs than budgeted. All of this means we can now raise our share price from USD 1 to USD 5 per share—months ahead of our projections. I want to take this opportunity to thank our existing investors, who took a leap of faith in our team and invested in Monetas early on when the risks were much higher, when we had virtually no track record, and the future was much less clear. We're notifying our existing investors first, giving you the chance to increase your investment at the current price of USD 1 per share, before we increase it on April 6. Onward and upward! Johann Johann Gevers CFA CA BCom BSc BA
Within weeks, the President of Tezos Foundation, Johann Gevers, and the Breitmans got into a public feud regarding the funds raised. Specifically, Gevers refused to disburse the funds to the Breitmans. ... French President Emmanual Macron Showing Off A Ledger Bitcoin Hardware Wallet. In 2013, Bitcoin made major strides. But even more alarming, the pair accused Johann Gevers, the head of the Tezos Foundation – a Swiss foundation which oversees their funds, of attempting to overpay himself using the massive pot of investor capital. ... Blockchain.com, the Largest Bitcoin Wallet Provider, Opening an Exchange July 30, 2019. Learning how to read crypto charts is an essential skill for anyone interested in trading Bitcoin successfully. At first glance, trading charts can seem like a foreign language. All the confusing lines, shapes, and colors can make it seem very intimidating for beginners. Additionally, learning technical analysis requires that you begin to learn the jargon […] A few months after Tezos’ ICO ended, the Breitmans entered a dispute with Johann Gevers, who served as co-founder and president of the Tezos Foundation. This dispute concerned intellectual property ownership and Tezos’ free software license. In addition to causing Gevers to part ways with Tezos, this also caused Tezos’ launch to be delayed. Two board members of the Switzerland-based Tezos Foundation, including its president Johann Gevers, have stepped down from their positions. The pair will be replaced by Tezos community member Ryan Jesperson – who will take over Gevers’ role as president of the board – and researcher Michel Mauny. The new members will join the recently-appointed Lars Haussmann […]
The four pillars of a decentralized society Johann ...
Johann Gevers (CEO Monetas) at the M-0 Conference in Zug, Switzerland. BULLISH VS BEARISH! SHOULD YOU WAIT TO BUY SOME BITCOIN AT OR BELOW 9K OR JUST BUY NOW. THE VOLATILITY IS BACK ... Key Management and Hardware Wallets aantonop 394 ... Johann Gevers TEDxZug ... This is my firm video! So don't be rude ,) I'll improve my youtube skills as fast as I can. This video is about the importance of "Trustless" in the blockchain technology. The Trustless is the ... Johann Gevers erklärt, was Kryptofinanz-Technologie ist und wieso ausgerechnet in Zug ein «Crypto Valley» entstehen soll. This talk was given at a local TEDx event, produced independently of the TED Conferences. What if we could rebuild our society in a way that works for everyo...