Quote from: MLMsceptic on November 17, 2017, 10:58:46 AM

Quote from: tituscoin on October 24, 2017, 10:14:15 PM

ICO tranche 1 was a success!

3 387 827 TTS sold at 1 /TTS

Right now we have 2318 Pledgers and we are on 73 685 TTS / 1 000 000 TTS total sold at 2 /TTS

Here is a new press release about Natfarma - leading Spanish parapharmacy to accept Titus Coin digital currency
https://www.mynewsdesk.com/mt/titus-invest-ltd/pressreleases/natfarma-leading-spanish-pharmacy-to-accept-titus-coin-digital-currency-2215412

And a article from one of Sweden news papers
http://it-finans.se/titus-coin-tar-kryptovalutan-till-en-ny-niva/

Some observations:

1. Natfarma. Any chance the individuals behind this company are affiliated to the individuals behind Titus? Please elaborate on and substantiate the claim "leading parapharmacy". It seems very much like another MLM-esque natural remedies b***ocks. Would expect more from a "leader" in its field.

No, they have no control or influence over Titus and Titus has no control or influence over Natfarma. They believe in Titus and are members of the community on the same terms as the other community members.

2. From the article in it-finans:
- How is your solution with so-called "supernodes" different from the existing BitCoin solution in terms of verifying a transaction. Technical details please.

Its a lot of detail to boil down into a short forum post, but to put briefly the supernodes all provide a proof of stake to the network ahead of time. A subset of supernodes are chosen, using a predictable method, to collectively provide locking of coin inputs to specific outputs. This lock is then used to prevent double spending, which in turn significantly reduces the time required to verify the transaction.

Using this method is optional and transactions can still be made normally, though the locks mentioned still have to be respected.

If you want more information you can look up the proposal of a similar system, Duffield, Evan, Holger Schinzel, and Fernando Gutierrez. "Transaction locking and masternode consensus: A mechanism for mitigating double spending attacks." (2014).

- How come your out of the box, brand new product can possess more computing power than what is currently in play for verifying BitCoin transations (which is the implication of your claim to provide "instant payments")? Or could it be that your "Titan-node" decides what is to be verified and what is not, i.e. not really a distributed solution but rather a monopolistic? If both are wrong, then please explain how TitusCoin can provide "instant payments". Technical details please.

Your question implies that the number of transactions verified is related to the amount of computing power used in a network, but that is incorrect. The number and power of the active miners determines the computing power of a network, while the block-size and frequency of blocks is what determines the transaction throughput.

See above reply for the technical details.

- The article also claims that TitusCoin provides for offline transactions. How is this possible as it must mean that the transaction is not verified? In the Titus-universe, an offline transaction surely hasn't happened until your super-nodes are alerted to a validation request, which I presume is made online rather than by carrier pigeon (a method which would not be in keeping with the "instant payment" claim anyway)? Technical details please.

The person interview provided some information about a prototype not yet ready for release. They are not a core developer, and some of the information mentioned may not be accurate in the final product. We have tightened up the information flow to prevent future miscommunication.

- You also claim that TitusCoin can be converted to fiat currencies (e.g. USD, EUR) and the conversion is in real-time. Let me remind you that settlement of spot forex is T+2 so, who eats the risk until the trade has settled, Titus, the customer or someone else? A conversion in "real-time" is only good so long as both parties uphold the IOU:s which were created at the time of trade execution, i.e. to deliver the goods on the settlement date. Technical details please.

Conversion can be done using an exchange like with any other cryptocurrency. Another alternative is to do conversion using one of the partners mentioned later in this post, but that requires a separate agreement with that party. The exact details about who assumes what risk and how the exchange is done would be determined by those partners and their agreements, it is not something that we can dictate.

- What bank do you use for currency conversion and how did you get them to accept TTS? If they don't accept TTS, how do you pay for the trades your customers do (in what currency)?

We currently have two partners when it comes to fiat, VIP sparkassa and a fund in BVI. They have their own bank contacts and we will not pressure them to reveal anything because they are the backbone of Titus for our merchants and we are lucky and grateful that we managed to make these arrangements.

The biggest issue in crypto right now is the acceptance of merchants, as there is currently no convenient and reliable way for a merchant to accept crypto in part, while still being able to pay its wholesaler in fiat as needed. These partners are our (not so secret) weapon in overcoming that hurdle.

- Are customers' monies and TTS held in accounts segregated from the company's own money? How are customers' funds safeguarded? Client money accounts? Technical details please.

It is the user's own responsibility to keep their Titus-wallets safe, just as with any other cryptocurrency. Money in a wallet will be secured by the blockchain and we have no direct control whatsoever.

When it comes to how our partners safeguard the Titus of their customers we of course expect the highest possible degree of safety, but we cant directly control how they do it, and we cant reveal any technical details about their implementation.

Merchants are safeguarded by the fund according to their agreements with our partners. Once a customer pays with Titus the merchant will either receive fiat via conversion or crypto, depending on the specifics of their agreement, just like on any other payment platform.

Other disturbing information:

1. The VIP Coin Sparkassa was previously called Towah Gold Sparkassa. There is a plethora of negative information about Towah Group and the individuals behind it. Please explain the link between Titus and Towah and any individuals that are involved.

There is no link between Titus and Towah. The Towah Gold Sparkassa was initially intended to cooperate with Towah, but the plan never went active so it never became involved with Towah. We have no direct control over VIP Coin Sparkassa as it is an independent entity, but as far as we know they have no plans to associate with Towah.

2. The statutes for VIP Coin Sparkassa stipulates that membership is limited to 1000 natural persons. Please comment on how you are to onboard more members/ambassadors or whatever you call it than that?

VIP Coin Sparkassa has an agreement with Titus Coin to manage fiat money used to back the Titus Coin. The users of Titus Coin do not become members of the VIP Coin Sparkassa.

3. The statutes for VIP Coin Sparkassa requires that in order to become a member, one has to be a customer of Fennas Finance. Why is this? Is it Fennas Finance AB or some other version of Fennas Finance?

A Sparkassa is a special Swedish institution created for a group of people with a common interest. In this case, the members need to be users of the Fennas Finance e-wallets. This has nothing to do with the Titus operations as Titus Ambassadors and members are not to be members of the VIP Coin Sparkassa.

4. The officers of Fennas Finance AB include a Norwegian individual who is well known in connection with the Towah Group debacle. Please explain why and what his role is.

There is a Norwegian as one of three directors in VIP Coin Sparkassa.

Finally, please subject Titus ICO and all surrounding structures, including the technical solution, to an external audit by one of the Big 4. Then present the results. Until then, the legitimacy of your so called product is null and void and looks like nothing more than yet another empty MLM-shell with cheap gifts (purchased using the initial punters' monies no doubt) given out to appease the blinded crowds. Where is the product?

Thank you for your input.

To all: this does not pass any type of smell test. The so called white paper is a load of tosh and appears to have been written by people who know little about crypto currencies as well as financial market. Do proper due diligence and buyer beware.

Link to UK regulator website about the risks of ICO:s: https://www.fca.org.uk/news/statements/initial-coin-offerings
Link to Swedish regulator website about the risks of ICO:s: http://www.fi.se/sv/publicerat/nyheter/2017/varning-for-risker-med-initial-coin-offerings/

Look forward to all your detailed answers.

It is clear that the understanding the writer of this post has of the Titus ecosystem is limited.

Titus Coin is an independent, decentralized, bitcoin-based blockchain cryptocurrency which can be mined.

Titus Community does not issue coins, but is attracting a large number of individuals to go out globally and attract merchants to accept Titus Coin as means of payment.

VIP Coin Sparkassa is a Swedish entity set to control the fiat backing of the Titus Coin.

This poster clearly has strong opinions based on faulty assumptions, a poor technical understanding and they probably cant be swayed no matter how well-written and thorough our explanations. The account is brand new and this is their first post, which seems like a thinly veiled attempt to spread disinformation about Titus.

See answers (in bold) in the quote.