Quote from: devphp on July 04, 2014, 04:53:22 AM

Quote from: r0ach on July 03, 2014, 10:28:24 PM

Quote from: devphp on July 02, 2014, 02:34:47 PM

"IPO is not a way to distribute currency" is just an opinion.

No, it's not just an opinion. The person that runs the IPO can create as many fake accounts as they want, send in 10 BTC with all of them, get 90% of the coin issued, then all the BTC money goes back to himself anyway. So the coin issuer not only gets as much premine as he wants, but also profits from anyone else that sends him money. You couldn't invest in a more idiotic scam no matter how hard you try.

The only valid form of IPO is maybe proof of burn like Counterparty did.

Sure, the person who runs an IPO can do all that. But there are 2 issues with what you say.

#1. If that person doesn't innovate and develop anything, his scam will fail very quickly, as people will see there is no progress.
#2. If nobody but him invested in the IPO, it means other people don't provide bounties for development and take no part in the life of the community and the coin.

Both of which issues are not true for NXT, as the history of its development shows. So, yeah, 95%-99% of IPOs are probably scam, or if they are not outright scam, they will just fail, because the failure rate of startups is very high due to incompetence among other reasons.

I like the way Counterparty did their proof of burn IPO, I even burned half a bitcoin myself there

But Counterparty cannot be extended indefinately as NXT can due to its architecture, and Counterparty runs on a slow network adding Bitcoin's flaws to its own. Hence, Counterparty can only compare to NXT in how it did the IPO.

interesting take on that - you would be talking about the "trust us" system employed by Po$ (Proof of Scam) - its messily defined here - :

1. (Po$) Proof of Scam, Defining the cryptocurrency exclusive socioeconomic dynamic.

http://kolinevans.wordpress.com/2014/07/02/on-po-proof-of-scam-defining-the-rational-crypto-currency-exclusive-socioeconomic-dynamic/

And why has LTC dropped - its probably simpler than you think:

2. Why has Litecoin decoupled from Bitcoin (and is on a price decline) and why is this important for Quark and other free market Crypto currencies.

http://kolinevans.wordpress.com/2014/07/04/why-has-litecoin-decoupled-from-bitcoin-and-is-on-a-price-decline-and-why-is-this-important-for-quark-and-other-free-market-crypto-currencies/

short story probably just because KnC are about to deliver.

could it be pumped again?
sure thing.