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> Its authors will receive a one-time retention of 20% (2 million) of the initial MTN supply. Need to say anything else? Sounds really shady to me.. Anyway, th
by argo_ 9y ago
> Its authors will receive a one-time retention of 20% (2 million) of the initial MTN supply.
Need to say anything else? Sounds really shady to me.. Anyway, the Sidechain Project which is in development by the Blockstream team is supposed to do that, but above the bitcoin protocol itself, not in a 'new coin'.
- dabockster 9y agoClassic pump and dump (PnD). If they were serious about developing a better crypto, they would have divested almost all of their coins. This ratio shows that the devs only want to make a quick buck.
- artursapek 9y agoThis is the depressing state of the cryptocurrency world these days. A sucker born every minute, and an "ICO" starting every hour.
- anonymous5133 9y agoAgree. If devs want their ICO to be taken seriously then they need to do the leg work first and show us at leas a working prototype.
- just_one_time_ 9y agoNot sure how you can mention shady dealings and Blockstream in the same breath without any irony. The only business plan of Blockstream's sub-human CTO is to limit (or even reduce) the number of allowed transactions per second on the "main chain" to be able to sell a Blockstream Branded service as a "side chain". The whole success of the company depends on a hobbled and restrictively EXPENSIVE Bitcoin network.
- mrb 9y agoAs long as this is disclosed, why would it be shady? This is no different than executives retaining a fraction of the shares after doing an IPO.