Quote from: minairia3 on December 18, 2014, 10:04:20 PM

Are guys aware of the phenomenon with ICOs where there are entities/individuals (who knows) who buy up large quantities of coins and then dump them at a huge loss to themselves right after trading starts? Are the "whales after cheap coins" or holders from other coin communities (Bitcoin people?) killing the competition? No-one knows but there actions have ruined several good reasonably non-scamy projects. Without spending lots of money on intenral buy support and fake volume your coin could get killed the first night. Bitswift and Fuel2coin (as scamy as they might be) maintain constant "fake" buy support to hold and increase their prices. Maybe good coins like Vior have basically been strangled at birth by these unknown actors. Vior does exactly what it says it will do, the devs are honest and present and it just didn't matter. The coin was dumped into the dirt. (VIOR is being ultrapumped at this moment but we know that always ends).

Quote from: NooHackTeam on December 18, 2014, 07:49:11 AM

Quote from: NewWorldCoiner on December 18, 2014, 06:45:22 AM

Righto, couple of points, firstly, lets see the COA's so we know what you're trying to sell us and where it comes from, and secondly, the bold bits above.

Most coins offer nothing tangible. True, but all I see here at the minute is an IPO backed by graphics and a website. It's not quite tangible yet. And your argument doesn't stand up because you're offering a product for sale, not like most intangible scam IPO's promising to develop a non-existent service or feature. So when you seek money from people which you will then invest in developing your business, shouldn't those people be treated as investors and rewarded accordingly instead of just getting an extra 15% discount? And if you offered shares or profits in the business, wouldn't you attract more investors rather than just the people who are interested in discounted Nootropics?

How is the coin no longer in your control when you propose buying 5-10% of the coins from yourself with the BTC you get from selling the IPO to us? You already warned some guy not to expect the price to fall after the IPO because of this planned price manipulation.

Also, what savings have been made by creating a new coin for a niche market instead of just using BTC as a payment method? It will have taken time and resources to create a new coin, which you freely admit needs giveaways and bounties in order to promote its adoption, which is more wasted resources. The money would have been better spent elsewhere promoting the business, not the coin, if the business even exists. And by that I don't mean an un-registered business, anyone can register a business to appear legit. What I mean is at the minute this doesn't appear to be a viable business model, it looks like an IPO rinse-out. You talk of economies of scale, so is this coin your idea of a loss leader? If so, how long will the 25% discount last? Presumably not forever because its all about profit margins, and when you're trying to sell a niche product - nootropics - to an already inherently niche market of crypto-users, how long can any such discount be offered in order to attract customers when you also have to compete with the mainstream market? It's not possible to maintain that level of promotional discount in the mainstream markets for any period of time, never mind here.

I just don't see the need for it. Maybe I need some smart-drugs to make my brain work better.

Once we've received our 3rd party COA's, we will present these to the public domain. These will be ready very soon.

We cannot offer shares in our company through an ICO, this would be considered illegal. However, we can offer investors an appreciating value of the coin based on the performance of the company. It isn't hard to see how this works and we've explained this before. This however does not rule out the possibility that we can issue dividends based on the proportion of coin that you own. We will look at the viability of this shortly. Strictly speaking however, the coins themselves cannot be treated as a security.

Price manipulation is not something that we are interested in. I only pointed out that we would be buying our initial float of coins after-market at ICO price and that it is unlikely that given our bid, many people would sell below the price which they invested at. You are right in saying that we have cut margins, but we are not a loss leader. The first step for any business is to reach an equilibrium point where it is self sustainable, the model we have created allows for the influx of fiat in exchange for the coins. We do this because ultimately, we want the entire niche market to put their fiat into our currency, meanwhile allowing customers / investors with NooCoin holdings to openly trade this hybrid commodity / currency. Once we launch our in-house exchange, customers will be able to buy coins directly from our website, the system we implement means that we encourage overall more expenditure.

We do not expect to see the business to make an instant turn around or start making large profit, quite the opposite. Our first aim is to create circulation, and wide spread use of the coin. Like any start-up, we wanted to attack a niche that has large growth potential, and do it with a unique stance. The coin offers many advantages to us, because we are able to sustainably offer our investors as well as customers opportunities to earn more coin through participating in the business. Any merchant who offers loyalty points - and there are many, do so with total control over the supply of these 'points'. They are essentially unlimited. This is where we differ, the coin is finite, and value is created through its scarcity. Even though we give away a portion of our coins, we believe that we can reach a point that through our exchange, we are able to atleast sustainably operate with NooCoin alone.

As mentioned previously, we are not a loss leader, we are sacrificing on making ROI sooner by offering products at a thinner margin for ourselves. Amazon actually operates very similarly. Therefore, we intend to maintain offering the 25% discount for the life of our business.

Our position in the market is more unique than most other Nootropic stores, as such, we have the first mover advantage in crypto. Expansion into global markets and expanding our product lineup to other supplements will allow us to reach those economies of scale as mentioned.

Finally, I recommend you taking Aniracetam, our posts might make a little more sense after that!

I'm not following your point here, but I understand that there are some strange and malicious people who want to damage a coin in terms of its price.
Our interests lie in making the coin a useful currency, and, making our products sell. We're creating an economy, and one that is not dominated by a central authority.

"People often refer to an enterprise system as a profit system. This is a great mistake. It is a profit and loss system, and the loss part, in my opinion, is more important than the profit part. The crucial difference is not in what ventures are undertaken. The crucial difference is in what ventures are continued and which ones are abandoned... The crucial requirement for maintaining growth and progress is that successful experiments be continued and unsuccessful experiments be terminated" - Milton Friedman

We wanted to do something different, and this is to some extent an experiment because we have not ventured into crypto-currency as a business model before, but we have thought about it a-lot, and much of the work we have put in is to ensure that we can run sustainably. In the longer term, we hope to entice other nootropic stores (and any store for that matter) to try our models and use NooCoin in a similar way. Along the way, we will keep innovating - that is a certainty, as in the world of business, not just in crypto, we hope that more players in this economy we have created will benefit everybody.