Quote from: Daparski on February 10, 2017, 11:45:37 AM

Quote from: TaaS on February 06, 2017, 05:14:23 PM

Quote from: hobbskevin on February 05, 2017, 02:24:31 AM

I don't see any answers from this team. Do they have someone that is in charge of this? The article in Forbes is the only news I see and it looks like a paid add, why is there no other press on this?

Forbes is not the only media coverage we've got.

Check out these links:

http://www.financemagnates.com/cryptocurrency/innovation/taas-developing-bloomberg-like-cryptocurrency-portfolio-management-platform/

http://financefeeds.com/pr/taas-first-fully-transparent-closed-end-fund-dedicated-blockchain-assets-announces-ico/

http://paymentweek.com/2017-2-2-taas-the-first-fully-transparent-closed-end-fund-dedicated-to-blockchain-assets-announces-ico/

http://www.banklesstimes.com/2017/02/04/saas-announces-initial-coin-offering/

Quote from: hobbskevin on February 05, 2017, 01:31:23 AM

Quote from: 4rzun4 on February 05, 2017, 01:29:40 AM

I hope the Crowdsale soon will be escrow provided, so investors will be more confident to invest in this project and they thought it would be safer

Why would anyone invest in this? They don't even tell you what you're investing in, it sounds like they are just trying to get peoples money so they can go gamble it on the exchanges.

In a previous post I explained how HLB International (hlbi.com) will be doing a thorough audit of ICO use of proceeds. It is an analogue for escrow, but MUCH safer from investor's standpoint.

Quote from: hobbskevin on February 05, 2017, 12:03:33 AM

I don't see how you plan to make money? Are you just trading existing tokens on exchanges and trying to make money that way to pay investors? If so does any of you have any trading experience and how are you planning to mitigate your risks? Are you using any hedging tools? Why do you need 101 million dollars? If you look at the altcoin markets over time even the very short time they have been around there is much volatility and unless you are pumping certain projects and market making how do you plan to still give value to your investors? If you are market making are you charging for these services and will you be transparent about who you are doing this for? If that's the case then it seem like you will be doing a lot of pump and dumps, can you explain that you will not be doing this?

I appreciate your answers as I'm interested in how you are running this fund.

Please take a look at our Investment Methodology in the white paper (http://taas.fund/media/whitepaper.pdf). It will answer all your questions, including our income streams, hedging instruments. We will not be involved in any pump-and-dump schemes. It will be very easy to validate because TaaS utilizes Cryptographic Audit, making the fund fully transparent. Let me know if you have any questions about white paper.

Quote from: _nur on February 04, 2017, 03:41:52 PM

still waiting for the GST number

I did not forget about it -- our legal partners are currently finalizing some documents and will get back to us with registration number mid-week. Will update you on it.

Quote from: Daparski on February 04, 2017, 03:41:03 PM

Quote from: TaaS on February 04, 2017, 02:49:45 PM

Quote from: Daparski on February 04, 2017, 11:50:48 AM

Few questions to TaaS team:

1. ICO structure:
-- Why do you set a fixed price to your token at $1? Why not $0.50 or $10?
Wouldn't it make more sense to have a fixed number of tokens, and let the ICO participants set the initial price (number of tokens/total funds raised)?
-- Why you decided to have a bonus structure based on total amount of funds collected and not based on time? It looks "pumpy", like those power hour bonuses. Wouldn't it make more sense to have a weekly based bonus decrease?

2. This Cryptographic Audit sounds a lot buzz words and nothing much. Please explain how it is more based on the following:
-Proof of Reserves - everybody is using the same exchanges, nothing "cryptographic" here
-Auditable Exchange accounts - good idea, how does a view-only API key fits into this bombastic buzz phrase "Cryptographic Audit"?
-Proof of reserve - basically you will provide the public address of the crypto asset, so people can the balance and transactions? Is there more than that in this "Cryptographic Audit" feature?

3. If I understood correctly, the smart contract will hold the funds, is that correct? If so, it is a BIG BIG BIG NO GO. We had The DAO fiasco, and smart contract holding and managing funds is still couple of years ahead.
If you think you can put all the honey in one pot and be smarter than the entire community - well, good luck. I can't see how investors will keep their funds in a smart contract.

4. Do you have an escrow?

thanks

Thank you for questions, Daparski.

1. There is a misunderstanding that a price of a token is high. In fact, $1 price in the context of itself means absolutely nothing -- the price was chosen arbitrarily so that every investor, no matter how large or small, could participate.

2. Please read white paper for more information to your questions. I will note that Cryptographic Audit is not a technology in itself, but a name for multiple monitoring and auditing techniques that we created and assembled. The goal of TaaS is to provide maximum transparency for investors to set high security standards for blockchain industry.

3. Smart contract does not hold any funds -- it only disperses them whenever they are deposited to it. Funds are stored cold-storage.

4. We have something better: HLB International (hlbi.com), a world-wide network of independent accounting firm and business advisors, will be holding a thorough audit of ICO's use of proceeds. It is a much safer way to protect investors from fraud.

thanks for your response. I believe most questions are still unanswered.. (highlighted them for your convenience).

1.

Quote

In fact, $1 price in the context of itself means absolutely nothing

I am not a financial wizard, but it kind of makes me wonder.. How come the price that one pays means nothing?

Why not capping the number of tokens you will issue and let the ICO participants set their initial price?
The only asset you should set is the number of tokens (shares). The price of each share is not for you to decide, but for the ICO participants/market.
Still waiting for an answer about the second part - "Why you decided to have a bonus structure based on total amount of funds collected and not based on time?"

I will add a new ICO-related question, hope you don't mind:
Why not setting a cap for the ICO? You should know how much maximum funds you need and cap it accordingly. I mean a real, realistic cap target and not that 101,000,000 USD.

2. I am sorry, but all I see is more buzz words - "The goal of TaaS is to provide maximum transparency for investors to set high security standards for blockchain industry"
The view only APIs provide some level of transparency, but I am missing to see the high security standards.

What is so special about "Proof of Reserves"?
You anyway will need to use Poloniex, Kraken, and maybe another 1-2 major exchanges, like 99% of all traders do.
What am I missing here?

Another unanswered question:
Proof of reserve - basically you will provide the public address of the crypto asset, so people can view the balance and transactions? Is there more than that in this "Cryptographic Audit" feature?

3.

Quote

Smart contract does not hold any funds -- it only disperses them whenever they are deposited to it. Funds are stored cold-storage.

So the smart contract does not interact with the money in any way?
If so, who has control over the cold storage?

4. Escrow refers to money held by third-party on behalf of transacting parties.
I guess the question is Who will hold (have control, private keys and such) over the funds collected during the ICO?

We decided to base the bonus structure on the amount of capital raised and not on time, because we are an investment fund and it makes more sense to dilute supply with bonuses based on our operating capital. Bonuses could be based on time but we believe it would be unfair towards investors, however we indeed considered it initially.

You are right, a view-only API key is not the "high security" technology -- but we still decided to include it to offer those investors who do not have technical capabilities to validate other tools still have an opportunity to watch our trading activity.

Yes, while most of the trading volume is happening on Poloniex and Kraken -- you are right -- no investment fund is using Proof of Reserves tool to validate account balances. This is the primary difference that separates us from the crowd.

Chief executive team will be holding access to operating funds.

Let me know if I missed anything, or you have further comments.

Hi

you missed most of the questions even though they were highlighted.. I will give it one last chance.

1. Why not capping the number of tokens you will issue and let the ICO participants set their initial price?
The only asset you should set is the number of tokens (shares). The price of each share is not for you to decide, but for the ICO participants/market.

2. Why not setting a cap for the ICO? You should know how much maximum funds you need and cap it accordingly. I mean a real, realistic cap target and not that 101,000,000 USD.

3. This Cryptographic Audit sounds a lot buzz words and nothing much. Please explain how it is more?
--Already agreed that the view only APIs provide some level of transparency, but I am missing to see the high security standards
--Already agreed that "most of the trading volume is happening on Poloniex and Kraken". "no investment fund is using Proof of Reserves tool to validate account balances" - isn't it a transparency tool, similar to the view only APIs?
I still don't see any Cryptographic Audit here..

4. Escrow - can you please answer clearly to that very simple question?
Will you have escrow (escrow, as ICO money will held by third-party), if yes who is the escrow team?

What does it mean "Chief executive team will be holding access to operating funds"? Someone from the company?
multisig? how many signatures are needed?

Thanks for your questions, sorry that I missed some. Let me know if you have an additional follow-up.

1. Because in the past there have been different price-setting ICO models, and we decided to go with a fixed price due to the nature of our ICO -- and that is a token acts as a Proof-of-Membership in a fund. Due to a profit distribution system we have, it was more natural to go with a very well understood, fixed price. When tokens will be introduced to free trade on the exchanges, price discovery will have to reflect on a Net Asset Value (and that is the value of a single token within an investment structure), and the starting point in itself makes no difference, be it a $1, $5 or $0.0001.

2. Same answer as I have given earlier. 101,000,000 TaaS tokens is the cap we are willing to sell. Winklevoss ETF is raising $100M, so we see the number as adequate given the market.

3. API Keys and Proof of Reserves provide transparency tools, you are right. In fact, all of the tools are designed to provide transparency insight. And that is the point, to make sure that company's use of investor's capital is highly secured.

4. Escrow (or, as I said, "use of proceeds") will be governed by HLB International, hlbi.com. Follow the link to find out more about the company.

5. For obvious security reasons, I cannot reveal this information -- but yes, funds are accessible exclusively from the inside of the team.

Quote from: MoveCrypto on February 10, 2017, 02:01:03 PM

The view-only API keys sound like they could be a disadvantage. Then people can learn your trading patterns.

It does not really bother us, because the goal of the TaaS fund is to provide maximum transparency tools. If it comes with great educational insight for investors on how to manage funds in the market, we are welcome to share our philosophy. Wink