Re: [ANN][Qtum]UTXO based POS Smart Contract Platform | Crowdsale March 2017
The token distribution is ridiculous. After the ICO 49% of the coins would be controlled by the small group of people comprising the team + angel investors, in addition to all the BTC they would get from selling off the other 51%.
And that 51% that is being sold to the public is being sold predominately through exchanges nobody on here had ever heard of before this project. Exchanges which very easily could also be controlled by members of the team+angel investors.
On top of this, the coin is PoS but there is no mention of the PoS inflation rate in either of the whitepapers. A PoS coin with a small group in control of 49% of the supply LOL, so they would also be generating 49% of the the coins generated through PoS. Not to mention all they would have to do is somehow get their hands on another 2% of the supply (through buying into their own ICO, for example) to be able to abuse the network.
And that 51% that is being sold to the public is being sold predominately through exchanges nobody on here had ever heard of before this project. Exchanges which very easily could also be controlled by members of the team+angel investors.
On top of this, the coin is PoS but there is no mention of the PoS inflation rate in either of the whitepapers. A PoS coin with a small group in control of 49% of the supply LOL, so they would also be generating 49% of the the coins generated through PoS. Not to mention all they would have to do is somehow get their hands on another 2% of the supply (through buying into their own ICO, for example) to be able to abuse the network.
Definitely a dealbreaker. Plus the fact this Mr. Xuguang Dai has a bad history already. Investing with this knowledge is like investing in Bryce Weiner coins.
Xuguang Dai: http://beijing2016.thegmic.com/speakers/
Patrick Dai:
His name was already made public, his name is Steven Dai from China. Hes a really good guy in my opinon.
I didnt know who Bob and Gekko were before this. I learned quick that they are just a couple of sleazy extortionists. After they were asked to leave for extorting they acted like a bunch of pussies and started making threats.
If anything this has proven to only be entertaining.
It doesnt stop me from developing either so in effect the only ones they are incriminating is themselves.
Although they do seem to like abusing fake accounts.
I don't know why Roger Ver invested in Qtum: https://news.bitcoin.com/smart-contracts-bitcoin-security-interview-qtums-patrick-dai/