Ninjastic
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Board Announcements (Altcoins)
Re: [ANN] [ICB] IcebergCoin | FIRST NIST5 POW/POS | Join NOW! | Supported by BITTREX
by
swainzag
on 07/07/2014, 16:05:30 UTC
Quote from: ticoti on July 07, 2014, 03:57:50 PM
Quote from: swainzag on July 07, 2014, 03:55:38 PM
Quote from: leduc on July 07, 2014, 03:46:18 PM
because the trust about this coin is made on Bittrex name , not an anon Dev..

now they start allowing scam Ipo coin, tomorrow they will just use the hack lost coin argument...

if iceberg not a scam, then Bittrexs should express why they are supporting it.


All Bittrex is doing is holding the IPO so people do not have to send their BTC to anon dev BTC address.  This way it assures that people will get the coins they paid for.  Now.....after the dev gets the BTC from the IPO, that's when the fun starts and will determine if this coin will float or be a scam.
how can devs control if price goes up or down?

They don't.  With an IPO it always runs the risk of being a scam.  People are paying a dev for future development in a large lump sum of BTC.  Let's say this IPO raises...50 BTC, and for whatever reason instead of putting that $32,500 into development of projects the dev just closes up shop.  Now you have a coin with no future and with no dev and you expect the price of the coin to stay the same?  It will get mined and dumped and the original investors get robbed.  It has happened literally 100's of times in the last 6 months alone.

Now I am not saying that will happen here.  The dev could have big plans and this coin could take off with support and IPO money.  But, that's why it's always a risk to buy into an IPO.