Search content
Sort by

Showing 6 of 6 results by dancearnau
Post
Topic
Board Tokens (Altcoins)
Re: [ANN][ICO]COSS Token Swap ICO is LIVE
by
dancearnau
on 24/08/2017, 20:51:32 UTC
Has there been any decision on what to do with the unsold token, It should either be burnt or a greater percentage 80% distributed amoungst token holders. The disadvantage to burning is usually that you open on coinmarketcap with a very low market cap and usually takes a while to become a top token. assuming this ends up with 10K Eth and the remianing tokens are burnt the token will launch with a $3m market cap...just a thought.

The token holders will vote on what to be done with the unsold tokens. We must take into consideration that every token will count in the revenue sharing model. So we must make sure that tokens are held by their respective investors to receive revenue.
Post
Topic
Board Tokens (Altcoins)
Re: [ANN][ICO]COSS Token Swap ICO is LIVE
by
dancearnau
on 13/08/2017, 17:04:22 UTC
They faked our entire Token Swap, copying the white paper and the entire concept.

You can read more about this in the following articles:

https://medium.com/hellogold/scams-getting-worse-67e57ce7b6d6
https://medium.com/@Dave_Appleton/more-on-the-bitsdigit-scam-f598529a3021

I don't understand, both ICOs attacking each other, which one's the scam?

Bitsdigit is definitely a scam. They present a team and advisors that never heard about the product.
They copied our entire white paper. They didn't even remove our team member names from the white paper.

Read the articles posted by Dave Appleton and you will understand better.
Post
Topic
Board Tokens (Altcoins)
Re: [ANN][ICO]COSS Token Swap ICO is LIVE
by
dancearnau
on 13/08/2017, 16:46:28 UTC
They faked our entire Token Swap, copying the white paper and the entire concept.

You can read more about this in the following articles:

https://medium.com/hellogold/scams-getting-worse-67e57ce7b6d6
https://medium.com/@Dave_Appleton/more-on-the-bitsdigit-scam-f598529a3021
Post
Topic
Board Tokens (Altcoins)
Re: [ANN][ICO]COSS Token Swap
by
dancearnau
on 09/08/2017, 12:20:41 UTC
lol, they're asking for about 100,000,000 USD, and they won't even burn the remaining tokens. I was excited about this, but seriously, this is asking way too much. Should've had a much lower cap.

I don't know where you got that number, but that's not true.

The Token Sale includes 130M Coss at a rate of 1 ETH=600 COSS, so that would mean a total cap of 216k eth, at current rate that's 67M, the rate was decided when ETH was 200$ so that is why dollar value has increased so much.

As to the unsold tokens, this is what happens to them:

All the remaining tokens that haven’t been sold after the ICO, will be paced into a vetted/audited Smart Contract serving as the COSS Charity Foundation. COSS currently partners with the biggest Charity Foundation in Romania named “Mereu Aproape” managed by one of the biggest Media Trusts in the country and supports a Malaysian entrepreneur David Wu collecting money to help the children with cancer. The “Mereu Aproape” Foundation and David have registered their accounts on COSS in order to collect charity donations in cryptocurrencies supported on the platform.
In the nearest future COSS will contribute to more charities by dropping its unsold Tokens left after the Token Swap. The unsold COSS Tokens will be placed into a Smart Contract Pool, accumulating revenues in various crypto as per the FAIR SHARE program. Every 6 months this wallet will release all the gains to help a specific charity case (or foundation) that will be announced publicly. All the funds will be transparent due to their placement on the Ethereum blockchain, and will be donated to a charity vetted by the Board of Directors of COSS.
The Smart Contract Codes and the Audit will be released after the Token Swap.

Your token sale isn't going well, 67 Million USD is a lot of money to ask. assume you collect only 20 Million USD (so far you collected less than 1 million), which is still a whole lot of money. It means that charity will get twice as much money from the dividends as all your ICO contributors combined. That's very generous of you, but that's not exactly good news for investors. You should put a cap on how much the will be given to charity, like 1 million COSS maximum. And then burn all other unsold tokens. Only then would it make sense to invest in your company. You have a good thing going on there, make it attractive for people to invest


You guys are absolutely right when we look at the numbers that way. We have done some internal discussions and came up with the following proposal: After the token sale is over we will create a voting mechanism, so the investors can vote how much of the unsold should be set aside for charity and how much should be burned.

Regardless of how many tokens we raise in the token sale, the platform is and will remain operational. Please note that we already have a working business, that is generating revenue. The scope of the token sale is to grow the platform to manage all the unapproached areas of cryptocurrencies adoption. The result of the token sale will only define the speed and the scale of the platform, not the existence.
Post
Topic
Board Tokens (Altcoins)
Re: [ANN][ICO]COSS Token Swap ICO is LIVE
by
dancearnau
on 09/08/2017, 07:08:48 UTC
from white paper

Warm wallet:
Warm wallets are stored on a totally separate server that has all the security measures to be
protected:  all  communication  ports  except  for  the  blockchain  synchronization  ones  are
blocked, no user has access to the server directly, the wallet's password is encrypted, etc.

Cold wallet:
Cold wallets are stored on air-gapped PCs in the COSS office in Singapore. These computers
have  no  internet  connection,  and  the  transactions  from  the  cold  wallets  are  processed
manually by our financial managers.
The majority of funds is stored in the cold wallets.

can COSS explain please? its not decentralize.

Yes. Certain components of COSS are centralized because this is what the technology provides right now. As you know, decentralized exchanges have big difficulties operating large volumes at high speed, and they cannot trade with FIAT money as we intend.

The presentation of the wallet system is to present our users that we are taking into consideration all mechanisms to protect their funds.

All funds stored in COSS are fully auditable and we can provide an irrefutable evidence that we don't spend any of these funds.
Post
Topic
Board Service Discussion (Altcoins)
Re: How long does it take for Poloniex to process withdrawals "Awaiting Approval"
by
dancearnau
on 22/07/2017, 14:20:52 UTC
Same her. More than 7 days with a withdrawal "Awaiting Approval". Raised multiple tickets but no reply.
Did any of you guys got this issue fixed? Is there any other method to contact them except the unresponsive ticketing system?