Quote from: Dr. Finance on April 24, 2014, 05:05:13 AM

Quote from: blasthash on April 24, 2014, 04:49:17 AM

Here's my turn for the $0.02.

Let's get this straight -

1) You claim you're a "self-taught expert ... in many fields";
2) That you want to start your own cryptocurrency;
3) That you're willing to back it with $100,000;
4) And you're expecting to have people jumping at you such that you can sort through their qualifications like it's a list of girls wanting to date you.

Let me address the above, point-by-point.

1) First off, you're tooting your own horn major here. Anyone who indeed has the qualifications usually need not say it. They speak, and the eloquence that flows out of their mouth demonstrates to others that they have an innate interest in what they are trying to sell as much as their prospective clientele. You haven't demonstrated that inherent trust yet. How are we supposed to take what you say at face value seriously if you're sitting there ballooning your own ego? You throw out economics, finance, and cryptography and talk about advertising and marketing like they're all trivial fields, and I assure you, they're not.

2) Starting, backing and promoting a cryptocurrency is a multi-man effort, unless you happen to be a graduate from Harvard School of Business with another bachelor's in Computer Science (and significant experience in this field and open-source in general) and you have access to, and can pitch to, a large enough scope of people to make the first two qualifications even near relevant. Too much ambition is called insanity for a reason.

3) This is just crazy. First of all, it's crazy to throw that level of your own money into any unproven technology, knowing that which coins succeed and which fail is mostly anecdotal at this point (although, if you're a "self-taught expert", I expect you to have found some trends...), and you could very well tank out and end up with squat. I suspect this is mostly a ruffling of your feathers, so feel free to post your transfer check stubs, transfer receipts, or any other form of media that would even start to suggest you actually made such an investment. You can't make a show of force without punching something or stomping on someone's head.

Secondly, supposing that you have 1 share out of 1,000, that means that you have $100 out of your original $100,000. That also means you would need to undergo gains in excess of 1,000 times before you would stake a profit. I see two core flaws with this - the first one being amount of exposure, the second one being rate of exposure.

Amount of exposure - if there's only 1,000 shares in existence, you're looking for transactions between 1,000 entities only to appreciate to *1,000 the initial value. What most people are going to do is do exactly what you seem to have in mind. Sit on the golden egg. So, assuming 20% actually use and exchange this "currency", you're looking at 200 entities trying to appreciate three-orders-of-magnitude gains in a time-table that will have you see a profit. Unless you're investing Zimbabwe money, that won't happen.

Rate of exposure - you haven't talked about whether more shares can be created by any way through mining, but I suggest you go to the valuation tables for BTC and look at how long it took to go from a (roughly) initial value to that value *1,000. Keep in mind, when doing so, that if you're going to limit your initial disbursement amount to 1,000 people, that Bitcoin had a couple orders of magnitude greater people working toward its mining and those numbers are what you consider for how fast a cryptocurrency will appreciate or depreciate.

4) This ain't gonna happen with anyone that fits the range of people you're looking for. As I just finished writing, you need to instill confidence, and this certainly ain't the way to go through with it. You want to attain confident, smart people that can generate returns for you? Good luck with this being the first set of posts you've made where you're displaying a level of egotism that people of longer stature on these forums don't.

You haven't contributed anything of remote value to any of the (valid) inquiries/criticisms people have posted on your thread. Nor have you posted any details about the inner code workings of your currency, or about how the system is designed to be transacted. I would call Ponzi scheme on this, but it doesn't even appear to be that. It appears to be a poorly-thought-out project by a person who expects poorly-informed plebians to carry him to a poorly-thought-out endpoint by simply donating their developing and promotion means. You haven't explained any way that this will return a profit, other than saying you have a share?

How do you intend to enter negotiations with exchanges that allow your shares to be converted to that thing that actually matters (i.e. cash)?
How do you intend to make your "$100,000" investment bona fide into shares as opposed to just being a clever attraction tool?

Until we get actual answers from you as to the inner workings of this whole otherwise-crackpot idea, I'm calling bluff/scam on it all. You want to change my mind? Provide me with meaningful answers that aren't deflections.

Like I said this was just a post to gauge interest and not anything official. I said the official Announcement along with the application process will be up at a later date.

You'd get more interest if you cut it with the BS one-liners. You want interest, you give details up-front. If you go look at the actual announcements for the other altcoins they all specify up front their principles.

Mush in, mush out.

b.hash