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Showing 8 of 8 results by Calogero Izotz
Re: [ANN] Levelcoin - Proof of Stake / Proof of Burn Hybrid - Inflation Immune
The model of "fund now and develop later" doesn't seem to be working too well.
Develop first, show proof of concept, distribute thru proof of burn.
Then, if necessary, gather funds for particular purposes, from funders, who have skin in the game and are therefore motivated to scrutinize development and cover (or refuse to cover) additional expenses. This way funders continuously participate in project development , voting with money, instead of relying on devs decisions in distribution of ipo funds.
Develop first, show proof of concept, distribute thru proof of burn.
Then, if necessary, gather funds for particular purposes, from funders, who have skin in the game and are therefore motivated to scrutinize development and cover (or refuse to cover) additional expenses. This way funders continuously participate in project development , voting with money, instead of relying on devs decisions in distribution of ipo funds.
I could not agree more, very well said
Sound like a good approach.
Concurrent fund raising and development can work, based on progress. This is how most start-ups are funded, with seed funds coming in in stages.
I lost a coin in this, and knew very well the risk I was taking, posting red flags here all along. A number of us are interested in continuing this project. The last thing I want to see is other people deciding whether or not I have this option or dictating how a pre-sale is to be handled. I've come to crypto assets to escape that kind of crap.
Most start-ups don't take place in an atmosphere of coin fever, where psychological threshold for investing is very low and everybody is allowed to buy. Also developers usually aren't anonymous. What's happening here seems like a perfect opportunity for scammers.
I'm not for regulating anything, nobody should decide for you. What I wrote was meant more as advice for investors and should probably begin with "I suggest you invest in projects that do the following"
I suppose that in near future, with introduction of additional features/layers in bitcoin or contracts in ethereum (or similar protocols), distribution proof of burn will be replaced by tools that allow to secure and utilize funds in a trustless manner.
Re: [ANN] Levelcoin - Proof of Stake / Proof of Burn Hybrid - Inflation Immune
XCP, https://bitcointalk.org/index.php?topic=395761.0;topicseen , is pure proof of burn, burn ending in the next couple/three days at a certain BTC block number. Level Coin idea is more than simple PoB described in wiki link above with its two level system.
Counterparty is not a proof of burn coin, where proof of burn is an alternative to proof of work or proof of stake as a way to secure transactions in a system. Proof of burn in Counterparty means it's coins are distributed to those sending funds to an unspendable address. No more coins will be created after burn ends. Counterparty will rely on Bitcoin's proof of work for security.
How is Level Coin idea more than PoB described in wiki link? Two level system means that there are regular coins and burned coins.
Re: [ANN] Levelcoin - Proof of Stake / Proof of Burn Hybrid - Inflation Immune
To the two people attacking me for being proactive, feel free to calm down. I'm not asking for anything now except for a group of interested people to talk to about trying to find a way to actually produce this idea. I'm fully willing to divulge my identity to whatever team we work with, including responding to whatever requests will make those involved comfortable. I see a legitimate business opportunity here as well as the unique ability to create and produce something genuinely new and exciting. I have some ideas and would like to brainstorm with interested parties, which if that's not you, I don't blame you. A lot of scams go on here it seems like and I would be weary as well.
I'm not even saying we would get to production or even get to a point where we could start talking about funds, but shooting around some ideas seems like a good start. I do only have 11 activity on here. I made an account for the first time to ask questions of Levelcoin because I was truly interested in this. I still am. If no one else is then there is our answer. IF they are, lets talk about it. That's all i'm saying.
I'm not even saying we would get to production or even get to a point where we could start talking about funds, but shooting around some ideas seems like a good start. I do only have 11 activity on here. I made an account for the first time to ask questions of Levelcoin because I was truly interested in this. I still am. If no one else is then there is our answer. IF they are, lets talk about it. That's all i'm saying.
are you LeoC? or Cossakman?? I hope people don't buy this bullshit. DO NOT TRUST THIS GUY
I don't know who you are and haven't seen you on this thread until just now (I could have missed your posts), but you're being kind of rude. Honestly, I kind of feel like maybe who you are should be questioned. I didn't ask you for a dime nor anyone else. I am simply trying to start a dialogue on a possible method of creating a coin that runs off of a Proof of Burn / Stake hybrid system like described here because I think it's a great idea. There are thousands of people on this forum tossing around ideas, why have you decided I am the problem? There are others on this very thread saying the exact same things I am and no one is persecuting them? I don't get it.
On a side note, if I were Levelcoin, I wouldn't have run away with everyone's money. I would have paid a developer and put the coin out. I think he and everyone involved had a lot more to gain from actually developing the coin rather than turning it into a scam. He ran off with what, a max of 20 or 30 BTC? Being the developer and creator of this coin probably could have gotten him that much in donations alone from early investors who cashed out 3 or 4x that from their initial investments. He's a moron for leaving his idea here for someone else to develop and prosper from, plain and simple.
Edit: I went back and looked and you did post a couple times after the thread started looking like a scam. So I did miss your posts.
It's not his idea.
https://en.bitcoin.it/wiki/Proof_of_burn
Re: [ANN] Levelcoin - Proof of Stake / Proof of Burn Hybrid - Inflation Immune
The model of "fund now and develop later" doesn't seem to be working too well.
Develop first, show proof of concept, distribute thru proof of burn.
Then, if necessary, gather funds for particular purposes, from funders, who have skin in the game and are therefore motivated to scrutinize development and cover (or refuse to cover) additional expenses. This way funders continuously participate in project development , voting with money, instead of relying on devs decisions in distribution of ipo funds.
Develop first, show proof of concept, distribute thru proof of burn.
Then, if necessary, gather funds for particular purposes, from funders, who have skin in the game and are therefore motivated to scrutinize development and cover (or refuse to cover) additional expenses. This way funders continuously participate in project development , voting with money, instead of relying on devs decisions in distribution of ipo funds.
Re: [ANN] Levelcoin - Proof of Stake / Proof of Burn Hybrid - Inflation Immune
Are you seriously trying to defend this thing?
Hmm, Level Coin, LeoC, LegCorner? Alot of LCs! Very strange!
I was waiting for Level Coin to play the "I was also blackmailed by LeoC" card.
Maybe you are part of this as well?
I see a L and a C in your name
Maybe! Maybe everyone, including the ethereum dev, got blackmailed by Level Coin's "organisation". Maybe the evangelical church is behind bitcoin, you never know.
Re: [ANN] Levelcoin - Proof of Stake / Proof of Burn Hybrid - Inflation Immune
I think it is funny how the people are crying which are not invested in this coin. The story is getting really weird and I hope it has a good ending for the brave investors.
The PM of LeoC which was published in the Ethereum thread could be faked as well.
I think for a scam it’s just too obvious. We will see…
The PM of LeoC which was published in the Ethereum thread could be faked as well.
I think for a scam it’s just too obvious. We will see…
maybe levelcoin got blackmailed too.
But the thing with the btcadresse is very strange. Very strange!
But the thing with the btcadresse is very strange. Very strange!
Are you seriously trying to defend this thing?
Hmm, Level Coin, LeoC, LegCorner? Alot of LCs! Very strange!
I was waiting for Level Coin to play the "I was also blackmailed by LeoC" card.
Re: [ANN] Levelcoin - Proof of Stake / Proof of Burn Hybrid - Inflation Immune
check out this post in Ethereum thread:
https://bitcointalk.org/index.php?topic=428589.msg4829119#msg4829119
quote from that post:
"Also please be aware that LeoC sent this message to me via a PM:
Quote
10 BTC and I'll remove my posts even though they are factual and won't make any more. 15 and I will change my tune and promote.
eMunie have already lost hundreds of BTC and were forced to cancel their IPO when I called them out here https://bitcointalk.org/index.php?topic=411366.0
I was going to create a similar thread regarding Ethereum, unless you send the above amounts.
I'd suggest you think long and hard about this. Which would you prefer to lose, 10 BTC or 1000, your choice.
1C7MPUTTWQjinfbRcQtW6HAc4ips7wMuiJ"
address included by LeoC in above message - 1C7MPUTTWQjinfbRcQtW6HAc4ips7wMuiJ - is the previous level coin funding address that was just changed suddenly without notice. I guess it's obvious now why it changed.
https://bitcointalk.org/index.php?topic=428589.msg4829119#msg4829119
quote from that post:
"Also please be aware that LeoC sent this message to me via a PM:
Quote
10 BTC and I'll remove my posts even though they are factual and won't make any more. 15 and I will change my tune and promote.
eMunie have already lost hundreds of BTC and were forced to cancel their IPO when I called them out here https://bitcointalk.org/index.php?topic=411366.0
I was going to create a similar thread regarding Ethereum, unless you send the above amounts.
I'd suggest you think long and hard about this. Which would you prefer to lose, 10 BTC or 1000, your choice.
1C7MPUTTWQjinfbRcQtW6HAc4ips7wMuiJ"
address included by LeoC in above message - 1C7MPUTTWQjinfbRcQtW6HAc4ips7wMuiJ - is the previous level coin funding address that was just changed suddenly without notice. I guess it's obvious now why it changed.
and here is what Level Coin wrote before to explain a sudden fundraiser address change:
Pre-Launch funding addresses:
BTC- 1Padc5wujXQamfR8r2Dig45BFh7SiT2AE4
LTC- LPn7WpdnZ3MSdDajbFMsJuVi44BeYEauKG
Did the funding address change?
https://blockchain.info/address/1Padc5wujXQamfR8r2Dig45BFh7SiT2AE4 shows 0 activity.
Yes, with the increased amount of senders these last couple of days I created a second wallet on a more secure computer.
The computer with the previous wallet begun to perform slower than usual and I feared it may have caught a virus. This was just a security measure.
Re: [ANN] Levelcoin - Proof of Stake / Proof of Burn Hybrid - Inflation Immune
check out this post in Ethereum thread:
https://bitcointalk.org/index.php?topic=428589.msg4829119#msg4829119
quote from that post:
"Also please be aware that LeoC sent this message to me via a PM:
Quote
10 BTC and I'll remove my posts even though they are factual and won't make any more. 15 and I will change my tune and promote.
eMunie have already lost hundreds of BTC and were forced to cancel their IPO when I called them out here https://bitcointalk.org/index.php?topic=411366.0
I was going to create a similar thread regarding Ethereum, unless you send the above amounts.
I'd suggest you think long and hard about this. Which would you prefer to lose, 10 BTC or 1000, your choice.
1C7MPUTTWQjinfbRcQtW6HAc4ips7wMuiJ"
address included by LeoC in above message - 1C7MPUTTWQjinfbRcQtW6HAc4ips7wMuiJ - is the previous level coin funding address that was just changed suddenly without notice. I guess it's obvious now why it changed.
https://bitcointalk.org/index.php?topic=428589.msg4829119#msg4829119
quote from that post:
"Also please be aware that LeoC sent this message to me via a PM:
Quote
10 BTC and I'll remove my posts even though they are factual and won't make any more. 15 and I will change my tune and promote.
eMunie have already lost hundreds of BTC and were forced to cancel their IPO when I called them out here https://bitcointalk.org/index.php?topic=411366.0
I was going to create a similar thread regarding Ethereum, unless you send the above amounts.
I'd suggest you think long and hard about this. Which would you prefer to lose, 10 BTC or 1000, your choice.
1C7MPUTTWQjinfbRcQtW6HAc4ips7wMuiJ"
address included by LeoC in above message - 1C7MPUTTWQjinfbRcQtW6HAc4ips7wMuiJ - is the previous level coin funding address that was just changed suddenly without notice. I guess it's obvious now why it changed.