Re: [ANN][LISK] Lisk | ICO | Decentralized Application & Sidechain Platform
This thread is starting to feel like the endless NXT thread back in the day. Good times then, good vibes now!
Nuna, thanks for this. I really think it was important to do and I'm glad you agree. It is hard enough keeping everybody on the same page about money matters here without giving them extra confusion with two sets of accounting ledgers with different rules and different bottom line satoshi prices. Thanks again.
I'm not following.. I saw the dapps we'll be capable to use the Bitcoin API, if so.. they can easily bypass Lisk as medium of exchange and use just BTC. Is this correct or dapps are forced use lisk as medium of exchange ?
Dapps will become a competitive environment. Bitcoin has one transaction confirmation in 10 minutes on a good day, and it has been having a lot of bad days. Lisk has one transaction in 10 seconds, and it isn't ever going to get those transactions constipated in a maze of miners. Higher reliability and 60 times faster confirmation means Lisk is going to become the dapp medium of exchange of choice, and will compete with BTC just fine.
We are starting to get unreal numbers. The Lisk ICO is hitting a "second wind", with higher 24-hour totals every day for the past five days. There were over 300 BTC donated over the past 24 hours ending at midnight UTC.
I absolutely agree that Lisk is the startup brainchild of Max and Olivier. If they had not forked Crypti into Lisk, the whole version 0.5.5 sidechain / dapp codebase would be just about dead and buried by now. Instead Lisk now has a real shot at breaking into the top level of all cryptocoins. What they did took guts and hard work under great personal stress.
For the risk they have taken and effort they made, they absolutely deserve the level of rewards they have set aside from themselves. They have effectively created a start-up company and given 85% ownership of it to people other than themselves in their first round of financing. Of the 15% ownership they have set aside, they have committed to giving 7% of it away to others to further the Lisk cause and keep only 8% total ownership to split between themselves for a total of 4% total ownership of Lisk each.
You call this greedy? You are crazy. To use an English phrase, Max and Olivier have "given away the store". Most typical tech startups drop the owners to a 4-5% ownership level after FIVE rounds of funding, not the first one. For example, read Lemkin's comment in this post:
https://www.quora.com/How-did-Mark-Zuckerberg-manage-to-own-25-of-Facebook
And just for fun:
http://whoownsfacebook.com/
Yes, the Lisk numbers are getting large. But don't criticize Max and Olivier for keeping 4% personal compensation. That only shows ignorance on the part of the critic on how ICOs/IPOs work, not greed on the part of guys we should be body-surfing across our Lisk community mosh pit in celebration of both their generosity and their wild success so far.
Accepting Crypti in exchange for Lisk is a polite gesture to the XCR donors who originally funded the 0.5.5 code base forked from Crypti by Max and Olivier. It allows these XCR donors to continue to participate in (and reap the rewards from) the continuing development of what their funding started.
To da moon for us all!
Code updated to include first week bonus and XCR fixed priced.
Nuna, thanks for this. I really think it was important to do and I'm glad you agree. It is hard enough keeping everybody on the same page about money matters here without giving them extra confusion with two sets of accounting ledgers with different rules and different bottom line satoshi prices. Thanks again.
If you plan on holding long term, how about creating a contract that release a percentage of your LISK based on specific conditions? Some factors could be time and market cap.
Lisk is Max and Olivier's show. They know how they want to run Lisk and have put terms and conditions out for donors to read before letting go of their BTC. At this point, I personally think it is time to trust their plan and vision and not retroactively start putting extra chains and new conditions on them just because the numbers are getting big. They have not done one single thing to show they have any malicious intent whatsoever. You have given talented guys big resources so they can try to do something amazing. I say let's give them a chance to deliver for all of us. I'm not seeing that as big driver for demand, you need lot of dapps and publishers, therefore the lisk price should not be so high.
One betting dapp with a volume of 100 BTC a day will already create a huge demand. Now imagine 50 IoT dapps, 10 betting dapps, 30 social dapps, ... I'm sure the demand will be there. It will just take a few weeks/months to pick up. The dapps need to be coded first. Before that all is speculation. Dapps will become a competitive environment. Bitcoin has one transaction confirmation in 10 minutes on a good day, and it has been having a lot of bad days. Lisk has one transaction in 10 seconds, and it isn't ever going to get those transactions constipated in a maze of miners. Higher reliability and 60 times faster confirmation means Lisk is going to become the dapp medium of exchange of choice, and will compete with BTC just fine.
Already a very successful ico. Congrats to max
True, it is kinda hard to believe that the ICO is already close to 2100 BTC donations even after excluding XCR donations. Congrats to Max & Oliver and the community as well!! We are starting to get unreal numbers. The Lisk ICO is hitting a "second wind", with higher 24-hour totals every day for the past five days. There were over 300 BTC donated over the past 24 hours ending at midnight UTC.
| Day 1&2 3 4 5 6 7 8 9 10 11 12 | Donated BTC 801 43 131 109 190 106 63 69 113 174 314 |
Its their startup, they deserve it. Would you take all the billions from Mark Zuckerberg ?
I absolutely agree that Lisk is the startup brainchild of Max and Olivier. If they had not forked Crypti into Lisk, the whole version 0.5.5 sidechain / dapp codebase would be just about dead and buried by now. Instead Lisk now has a real shot at breaking into the top level of all cryptocoins. What they did took guts and hard work under great personal stress.
For the risk they have taken and effort they made, they absolutely deserve the level of rewards they have set aside from themselves. They have effectively created a start-up company and given 85% ownership of it to people other than themselves in their first round of financing. Of the 15% ownership they have set aside, they have committed to giving 7% of it away to others to further the Lisk cause and keep only 8% total ownership to split between themselves for a total of 4% total ownership of Lisk each.
You call this greedy? You are crazy. To use an English phrase, Max and Olivier have "given away the store". Most typical tech startups drop the owners to a 4-5% ownership level after FIVE rounds of funding, not the first one. For example, read Lemkin's comment in this post:
https://www.quora.com/How-did-Mark-Zuckerberg-manage-to-own-25-of-Facebook
And just for fun:
http://whoownsfacebook.com/
Yes, the Lisk numbers are getting large. But don't criticize Max and Olivier for keeping 4% personal compensation. That only shows ignorance on the part of the critic on how ICOs/IPOs work, not greed on the part of guys we should be body-surfing across our Lisk community mosh pit in celebration of both their generosity and their wild success so far.
I'm not understanding how will you monetize all those crypti, 36M crypti it's a really large amount to sell. Or are them yours from the crypti project and this is a nice way to convert them in something better, lisk in this case without make it clear....
Accepting Crypti in exchange for Lisk is a polite gesture to the XCR donors who originally funded the 0.5.5 code base forked from Crypti by Max and Olivier. It allows these XCR donors to continue to participate in (and reap the rewards from) the continuing development of what their funding started.
To da moon for us all!