Quote from: albertdros on July 08, 2014, 05:20:40 PM

Quote from: swainzag on July 08, 2014, 05:17:38 PM

Quote from: albertdros on July 08, 2014, 05:14:30 PM

please tell me why everyone wants to buy this when theres 20% premine going straight to the devs and white a whitepaper that states:

Quote

As we said before, our philosophy is not to reveal the details of the future developments for Iceberg coin until they are tested and working. It would be so easy to promise several features, such as anon transactions, privacy, vo-ip,messages, lite blockchain, sidechain, but we are not going to do that.

does anyone even read this stuff? Why should I invent in something like that?

I have been saying that for pages now.

Especially in this post:

Quote from: swainzag on July 07, 2014, 07:04:00 PM

Thank you. I see too many people compare coin IPO's to company stock IPO's before they go public. There is a huge difference here.....a company going public already has a business, support.....A PRODUCT. A coin has an algorithm and the dev's hopes and dreams of what his vision of the future of the coin. It's awesome to generate hype and promise the world to investors, but too many people put blind faith and just throw their money away. I would be willing to risk that ~<2% of all coins with an IPO have been beneficial to investors.....and it's usually the original ones that do, like NXT.

IcebergCoin on the surface is a 20% pre-mined IPO, asking 8000 satoshis per coin for those wishing to get in it. The IPO looking to raise 100 BTC ($62,600 in the dev's pocket) before POW even starts. The rest of the 5M coins will be mined within 7 days, and if the coin was to keep that 8000 satoshis per coin as value, after 12 days (5 days IPO, 7 days mining) this coin would have a market value of $313,000. Quite the value for a coin with nothing ground breaking and it's future developments claim to be - Anon-feature (not original), VoIP feature (will it be better than a free service like Skype?), P2P feature , Black Blockchain, and Democracy Blockchain. The Nist5 feature is beneficial....but PoW ends after 7 days, so how exactly is that VERY beneficial at all?

Those of you planning on buying into the IPO....can I ask you, what is the reason you think it's worth what the IPO price over established coins out there that are going for A LOT on exchanges? Before you call me a "troll" or a "fudder", throw me a reason because I'm just generally curious.

Exactly this. TAC was the first coin with NIST5, has a lot of nice features already, and is cheap. Why should I buy some IPO from a coin I know nothing about, even less after reading that so called 'whitepaper'.

This is typical pump and dump Ponzi train. DEV doesn't give a shit about future of the coin because he knows he has no chance to win the current altcoin war. There are already TONS of shitcoins who promise the same shit and there are already couple of strong altcoins with strong DEV teams (I say teams in different areas, not single DEV working literally from garage) After first pump this coin will slowly die. The important thing is that DEV will have X tens of thousands of USD in his pocket earned soooo easily. Basically 1 or 2-years sallary of an average programmer. If the DEV is from China, it would be maybe 5 or 10 years sallary.

Why would not some DEV try to copy&paste some coin if he has capability to read and change bitcoin code. There are always sooo many stupid people to join the ponzi scheme. :-) The smart traders dump the coin in the first pump, naive investors will keep the coin till it reaches 500 SAT and then they dump it with huge loss. There are soo many examples how IPO coins ended-up. See HeavyCoin, it was also such a cool algorithm at that time and IPO price was something like 3K SAT. Now the price ridiculous 150 SAT. But basically every new altcoin launched since beginning of this year has only and single reason -> PUMP and DUMP.