This looks suspiciously like overt advertising for another useless ICO, 50% of which is premined and 30% (make that 40% including "bonuses" & "marketing") of that is going to the "founders".
If this coin ever hits an exchange I would short it hard, there's no platform, no demo, the whitepaper is 13 pages of tosh
"Microsoft Word - CoinJob Whitepaper V1.3.docx"
"Day 1: 1ETH = 1200XCJ"
So with 200m tokens at 1200 eth each, that's $26,000,000
so they only want 780,000 for marketing and 780,000 for bonuses
And how much is going to the founders?
$3,640,000, there are four of them so skim a little marketing and bonus money and that's 1m each.
I've heard some people say that most ICOs wouldn't stand a chance at getting VC funding. So, investors of HN, what say you of this one?
To me, the first question is why does this need its own token rather than just using Ether? I can maybe see appcoins making sense for something like Status (mobile messenger platform trying to be the crypto WeChat), but this seems too small even if it's a success to merit a separate token.
There ia a token named "useless ethereum token" which is created as a joke. And people are buying it. I think they habe sold at least 5 grands worth of it.
Free, probably. It doesn't take much. I imagine this gets flagkilled pretty soon. (And just to be clear, my wink above is just b/c I thought it was kind of funny, not b/c I have anything to do with it)
Token sales should always use a .eth name as the wrapper for their deposit address. That's what FunFair did with their token sale [1]. It makes it a lot harder for a hacker or scammer to trick users into sending to the wrong address, since a user-specified identifier can be made far more mnemonic than an Ethereum account address.
It seems like a neat idea, but do etherium-backed ICOs have any credibility right now? There are so many problems surfacing that it's not clear why anyone can take them at face value.
19 comments
[ 4.9 ms ] story [ 50.6 ms ] threadIf this coin ever hits an exchange I would short it hard, there's no platform, no demo, the whitepaper is 13 pages of tosh
"Microsoft Word - CoinJob Whitepaper V1.3.docx"
"Day 1: 1ETH = 1200XCJ"
So with 200m tokens at 1200 eth each, that's $26,000,000
so they only want 780,000 for marketing and 780,000 for bonuses
And how much is going to the founders?
$3,640,000, there are four of them so skim a little marketing and bonus money and that's 1m each.
This is a blatant cash grab
Disclosure: I wrote this "whitepaper"
I've heard some people say that most ICOs wouldn't stand a chance at getting VC funding. So, investors of HN, what say you of this one?
To me, the first question is why does this need its own token rather than just using Ether? I can maybe see appcoins making sense for something like Status (mobile messenger platform trying to be the crypto WeChat), but this seems too small even if it's a success to merit a separate token.
[1] https://medium.com/@weka/token-sales-done-better-funfair-d38...