Re: [ANN] [ASIC-RESISTANT] UltraCoin (UTC) - Ultrafast 6 second transactions!!
I realize you're just trying to interpret, but there is an odd logical circle there. Developers don't add value to the coin.... but we are to give them money to solve the problems we're having.... though they add no value.
And I'm not going into the obvious statement of profit when most Devs take a chunk of it for themselves. In this case, a very hefty chunk. I don't care if it is supposedly going to be invested in the coin or not. If UTC died tomorrow for some odd reason, He would still have ASICs worth a ton or potentially will make a ton of money with. It's a win / win. If UTC doesn't die, he still has 100,000 UTC that was provisioned for himself. That certainly seems like profit to me.
The point of my original comment was, in the end, Bumface stands to profit one way or another, but seems unwilling to risk anything personally for it. I don't think the statement was invalid and some don't see it as a problem. From a technical standpoint it isn't, but it doesn't strike me as someone who really believes there is long term value as every nickel out of his pocket today seems to bankrupt him when he's sitting on a pile of premine gains that you all prop up through mining and trading. You're already shouldering a ton of the work, I just get upset when I see something come up that, by every right, he should dip into his own funds to take care of, yet he asks again for your help.
I'll give it to you all for dedication at this point, but don't completely be blind in your support just because you want to believe. That's fanaticism.
And I'm not going into the obvious statement of profit when most Devs take a chunk of it for themselves. In this case, a very hefty chunk. I don't care if it is supposedly going to be invested in the coin or not. If UTC died tomorrow for some odd reason, He would still have ASICs worth a ton or potentially will make a ton of money with. It's a win / win. If UTC doesn't die, he still has 100,000 UTC that was provisioned for himself. That certainly seems like profit to me.
The point of my original comment was, in the end, Bumface stands to profit one way or another, but seems unwilling to risk anything personally for it. I don't think the statement was invalid and some don't see it as a problem. From a technical standpoint it isn't, but it doesn't strike me as someone who really believes there is long term value as every nickel out of his pocket today seems to bankrupt him when he's sitting on a pile of premine gains that you all prop up through mining and trading. You're already shouldering a ton of the work, I just get upset when I see something come up that, by every right, he should dip into his own funds to take care of, yet he asks again for your help.
I'll give it to you all for dedication at this point, but don't completely be blind in your support just because you want to believe. That's fanaticism.
Last time I read, he said he spend more than 20 BTC of his own money to create this coin, pay for web sites, pay for ziggy etc etc.
That was even before the coin was on any exchange. So going by his words, he did spend his own money for Ultracoin.
Yes, he will profit. But if he is willing to work to improve Ultracoin due to such incentive, that's a win-win for both of us.
One of the big reason why this coin took off in the first place was because of his name and recognition for being a BTC-e mod.
The bigger question here is how much he will be able to spend on Ultracoin once he gets his ASIC. (ASIC better be profitable.
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