Post
Topic
Board Announcements (Altcoins)
Re: IOTA
by
iotatoken
on 30/11/2015, 21:42:23 UTC
For me it would a little bit a conflict of interest if the founders will invest a lot. Example, imagine the founders are just CfB and iotatoken. So the Bitcoin-Pott at the very end will get halved. 50% for CfB 50% for iototoken. Imagine now the average joe will invest overall 500 Bitcoin during the sale. And CfB and iototoken just decide to invest 2000 Bitcoin each. So Overall Investment 4’500 Bitcoin. CfB and iotatoken will controll 88% of all iota and the Bitcoin they invested the would get anyway back. Possible. So I think it would help if both are quite open about their own investments, because it’s somehow left pocket – right pocket, they don’t have really costs, if they throw something in the Bitcoinbasket – it’s anyway theirs.

This will not happen, for several reasons

#1
We are running a hardware start-up that is developing a new kind of processor for Internet-of-Things, this is what inspired IOTA more than anything. A good portion of the funds raised for IOTA will go to this processor, which will also act as a bootstrapping mechanism for the IOTA network as it scales.

#2
It would be a really stupid strategy. We'll all make infinitely more if IOTA succeeds and gets adopted as a IoT standard even with just a sliver of the tokens than we'd do if we ran a typical pump and dump scheme

#3
We're not just the two of us, we also got another team member and math professor on board (Mtchl). I know he bought some because he told me in a casual comment, none of us has made any effort to inquire amongst each other how much the others will buy, it's a personal decision that does not affect the project in any way.

#4
I was undoubtedly the biggest and most vocal critic of the initial distribution of Nxt, so I would never allow our project to be stifled by bad distribution.


As for how much I will personally buy: not sure yet, still waiting for the last day of pioneer to make the choice. I treat this choice as completley seperate from the project it self.