That's fine to pay people in Incent, it is normal practice however the norm is to lock-up those shares/tokens to avoid an instant dump. It is irresponsible to investors not to consider it and the excuse of this being crypto is just an excuse. You are asking for investors but you are not looking in their best interest and not being transparent about it.
When a coin (in this case Incent) is promised to be bought off the market because of an event or anything, something is off. I'm glad I bought at 10k and sold it at 19k just before the beginning of ICO, and washed my hands off this. I had similar experiences with colored coins back in 2014 and I guess my instincts kicked in.
That is the business model. There's nothing untoward about that. It's a perfectly valid approach and lots of businesses use it. In fact it's becoming the norm in crypto due to the regulatory problems involved with issuing dividends. Just because you got burned with colored coins doesn't mean 'something is off'.
Re: locking Incent for partners - as I said, that's problematic. I guess we could have done for the team, though (unsurprisingly) no one from the team has sold. For the PR company, a lock-up period would have been a dealbreaker. Incent is a crypto startup, a high-risk company in a high-risk sector. Who's to guarantee that the Incent would be worth anything at the end of the lock-up period? We might be confident, but they have bills to pay. That's not to say we aren't very disappointed in the course of action they took.
If it was a dealbreaker from the PR point of view then you should have advised the investors. It was obvious they would sell in that case. Your role is to protect and advise investors in Incent but you don't seem to get it.
Please have a look at the Bittrex trading history. You will see that our bot market purchased quite some Incent over the course of several hours, few small orders every minute.
Regarding the dump: We just paid a PR outlet in Incent for their services during the ICO. They immediately transferred the whole payment to Bittrex and it looks like they want to sell all of it, pretty short-sighted if you ask me.
Seems pretty short sited of Incent that they did not contract a lockup period which is standard in business and business 101 level. It ensures the market will not disproportionately increase the supply, which drives prices downward. 40+% in this case.
That's really not going to fly in a sector like this unfortunately.
I don't see why it wouldn't work in crypto since the PR obviously went back to btc or Fiat. Kind of immature to have done that and kind of bad investors were not informed of it earlier. Tech is nice but behaviour is is slightly shocking.
Lots of people were paid in Incent for their work on ico. Any one of them could have dumped, and still could, just like anyone else. Most were smarter. The dump was the first we knew about it, which was also when we shared that information.
That's fine to pay people in Incent, it is normal practice however the norm is to lock-up those shares/tokens to avoid an instant dump. It is irresponsible to investors not to consider it and the excuse of this being crypto is just an excuse. You are asking for investors but you are not looking in their best interest and not being transparent about it.
Please have a look at the Bittrex trading history. You will see that our bot market purchased quite some Incent over the course of several hours, few small orders every minute.
Regarding the dump: We just paid a PR outlet in Incent for their services during the ICO. They immediately transferred the whole payment to Bittrex and it looks like they want to sell all of it, pretty short-sighted if you ask me.
Seems pretty short sited of Incent that they did not contract a lockup period which is standard in business and business 101 level. It ensures the market will not disproportionately increase the supply, which drives prices downward. 40+% in this case.
That's really not going to fly in a sector like this unfortunately.
I don't see why it wouldn't work in crypto since the PR obviously went back to btc or Fiat. Kind of immature to have done that and kind of bad investors were not informed of it earlier. Tech is nice but behaviour is is slightly shocking.
Looks like already been through a long accumulation period under ICO price. I'm jumping in before this goes mewn!
There was accumulation and there is again under 18k. There is little buy pressure, 120btc is peanuts now so probably quite good news if you're looking for a high sale price.
Good project though with finally some good real life application.
Yesterday i had sent to u some btc followed with the BTC deposit form.
Hi there, sorry i do not understand your question?
I think he is saying that he paid in BTC and where is his ZETH now?
Same for me I paid more than three days ago in BTC and still awaiting ZETH, see PM I had sent you before, so where is it now? All details given to receive.
Gabriel, you still here? Why did you abandon the project? It could have succeeded...
I don't think Gabriel was far off. It's a shame but hopefully he can start again at some point. It would be nice to hear from him even if just to say hi.
Post
Topic
BoardAnnouncements (Altcoins)
Re: CREDITS [CRE] | SHA256 | SIDECHAIN | NEW BLOCK-DEPOSIT FEATURE | OFFICIAL THREAD
Name: Gabriel Eiger Posts: 395 Activity: 280 Position: Sr. Member Date Registered: March 09, 2015, 06:09:25 PM Last Active: January 07, 2016, 10:02:44 AM
So dead coin? Thanks Gabriel
Hey Markov,
Not dead. Just impossible to work on all aspects he wanted to complete all on his own. It seemed the interest was quite niche, but he might still be developing on his off time. I'm working on getting the explorer and other services back online, I've been away for some time.
Sorry for the lack of communication, Greydon
Not dead but comatose then. The interest is not so niche anymore.
You can't really do the calculations without Crypti since Lisk is offering an stable conversion rate of 0.000013 per Crypti. Those who are trading in Crypti will receive LISK in exchange, even though it means Crypti might not be sold.
If you do the calculations without Crypti, the value of LISK will decrease and you will end up selling below the ICO price.
Good way to get rid of XCR though. It's been really useful here.
Post
Topic
BoardAnnouncements (Altcoins)
Re: CREDITS [CRE] | SHA256 | SIDECHAIN | NEW BLOCK-DEPOSIT FEATURE | OFFICIAL THREAD
Name: Gabriel Eiger Posts: 395 Activity: 280 Position: Sr. Member Date Registered: March 09, 2015, 06:09:25 PM Last Active: January 07, 2016, 10:02:44 AM