Quote from: Litoshi on July 07, 2014, 03:51:10 PM

Quote from: Secondleo on July 07, 2014, 03:42:17 PM

Quote from: Litoshi on July 07, 2014, 03:30:15 PM

Quote from: GreXX on July 07, 2014, 03:15:00 PM

Quote from: Litoshi on July 07, 2014, 02:55:55 PM

Quote from: Neo.op on July 07, 2014, 05:38:39 AM

I have been following this thread for long. By the first IPO, I was happy with the detailed explanation from Grexx and SyRenity about initial distribution. Why the 15% or the 10% was required etc made sense. The final outlay about dev fund reflecting the amount of btc raised seemed good too. But then there was this:

https://bitcointalk.org/index.php?topic=654463.msg7602355#msg7602355

This was just before the initial distribution. While it was later corrected by SyRenity to reflect the OP; now we have ended up with the same distribution (up to 25% premine for the guys). Now, IMO this amounts to double speak and constant moving goalpost by the team. So I am outta here.

PS: for guys who actually want to invest, at BTC at 650, here's what the whole coin will be worth:
250 BTC = 812,500
300 BTC = 1.02 million
350 BTC = 1.26 million
400 BTC = 1.53 million
450 BTC = 1.83 million
500 BTC = 2.17 million

Now the question is - is the current beta worth that much money? Think and invest.

The unanswered question is how many coins are going to be sold in the IPO. The OP says 80% of the genesis block. It does not say how big this block will be. Total coins to be mined is listed at 100Million. If the genesis block is a huge 1 million coins, and they raise even 250 BTC for the IPO, that makes each CRYPTI coin worth......25,000 satoshis!!!

Thats quite a high price for a new coin.

SO, what is the size of the genesis block going to be??

Litoshi, the genesis block is listed as 100,000,000 in the whitepaper, it must not have been transferred to the OP correctly when it was re-written for the new updates? It will all be created in the Genesis block and distributed according to escrow. There is no mining and all currency will be created in the genesis block. Hope that clears up that point.

AH Yes.... Now it all becomes clear. You guys are not setting up another CryptoCoin to be mined and created by miners POW, you are selling COINS that you created out of thin air.

Since these coins are negotiable, and earn interest over time (POS payments) you are actually selling a financial security.

If you are not registered with the US SEC to do this in the US, you are committing a felony in the US.

There are also laws to require registration for selling securities in Russia and EU.

Anybody that would buy these unregistered securities would be a fool.

So, coins that have mining involved are no financial security?

Proof of work is not a financial instrument. Proof of stake means the holder gets paid additional stake for holding. Same as in a savings account.

The fact that this is a cryptocoin does not make any difference. It is a negotiable item, which earns interest, and is being sold by unregistered persons. It is no different than buying a bond.

Actually, the coin does not earn interest based on stake in the currency. It rewards users for running the network nodes which power the Crypti network. In essence, all transaction fees are being awarded for network generation time. This is a completely different implementation and argument.

Besides, the U.S. government has already declared that Bitcoin and other Crypto Coins are to be considered property and not follow typical financial regulation laws.