Alright so let's structure this a little bit:

* Their ICO was sold out within minutes. This had to be expected.
* With 60Gwei and 200,000 Gas limitation, it was pure luck whether or not your transaction would arrive on time
* If it arrived on time, then you're fine now. You'll get your ABT. If not, your funds are under Arcblock's control until they decide to refund you
* They now have way more funds than they intended to raise. This could or should have been done differently (using a smart contract for example)
* My transaction took more than 11 hours with 60Gwei and 200,000 Gas. I knew of the risk but wanted to try it anyway.
* They say that there is a minimal chance for contributions that arrived too late to still be counted. I don't expect mine to be among those so I'll now have to wait until they are done with all their calculations.
* It's possible that contributions that arrived too late will still be counted purely because they are putting a penalty on those who went over the limitation of 60Gwei and 200,000 Gas. As far as I understand, these funds are going to be refunded minus the 20% penalty, thus opening spots for pending transactions.
* The intent was to prevent a "Gas-war" where investors would pay horrendous fees just to get into the ICO on time. By putting a penalty of 20% they wanted to prevent this which of course did not work. A lot of people still went over the 60Gwei, 200,000Gas limit.
* As a consequence, Arcblock is now sitting on a ton of funds they don't need. People did pay them probably millions without getting anything back. Plus they dare to keep 20% if you went over the Gas limit. Even if they refund all the transactions that did not arrive on time, they will keep a huge amount of ETH as a penalty. I think this is unacceptable.

I can totally understand the motivation behind this 20% penalty. ICOs have become really hard to get into. But I don't think that a company should be in a position to penalize people in that way. They just don't have the right to do so. I'm not criticising the project itself, just the ICO and this is yet another example for future ICOs to look at and do better.

I recommend the Arcblock team to be as transparent as possible about this and state exact numbers of how much funds they collected, how much will be refunded and how much they will keep as a penalty. And then maybe consider just giving people these 20% back. It's just not okay to keep it if it's not needed for the project itself.

It's not a market unless it's open to anybody. It's a common misconception that a market with entry barriers is anywhere near what a libertarian would call a free market. It's actually the opposite and quite interestingly, people who tend to be against a free market often are the same exact people who will come up with some kind of bureaucratic-socialist pseudo-solution to maintain fair chances for everybody.

I think it's hypocritical to come into this crypto sphere, build a company around an idea and then be picky about your community. And if that's what Dether or anybody else is doing, then they should be honest about it and say: Listen, guys, we want money, but we don't want anybody's money. Instead, these people show up and talk about decentralization and changing the world and helping people but implement a KYC-process that is exclusive as fxxk. That being said, yes, they can reject whoever they want but they should not pretend to be a community project.

There is a lot of disappointment currently in Dethers community. They asked their ICO-participants to fulfill a KYC-procedure prior to being able to contribute to the ICO. A lot of people failed. I personally have experienced this twice now with Dether and WePower, two ICOs with a huge interest in their ICO. In both cases, I have been rejected. I am a German citizen and have high-quality pictures of my German ID plus a high quality mugshot that I have used in several ICOs with no problem. I have also openend an online bank account with a German and a Finnish bank with no issues whatsoever.

At least in the case of Dether, there is speculation that the team might just have been overwhelmed by the number of people doing KYCs and then just randomly rejected a lot of people. In their Telegram group they said that out of 5,309 people 1,941 failed the KYC-procedure but they could not tell whether it was a technical problem or a lack of quality in the pictures. Even if that particular ICO and KYC was a mess, there is still some need for discussion around how the crypto community can ensure that a majority of people get the chance to participate in new projects.

This is especially true if we consider reasons for being rejected during KYC apart from just bad image quality. These might include:

* wrong/risky/uninteresting nationality
* haircuts or facial hair (WePower actually stated beards under "not natural face changes" as an example of reasons for being rejected WTF??)
* confusing names (i.e. different spelling on ID document, multiple names, the order of name and lastname/family name, etc.)

I always saw ICOs as a way for people from all around the world to be able to invest in promising startups, regardless of their background. But as more and more people join the game, it is becoming increasingly difficult for the small fishes to participate. If even I as a privileged German citizen am being rejected: How will new projects and their KYC-partners ensure that everybody gets a fair chance? I don't want to see people being rejected just because they wear a beard (Sikhs, muslims) or because they live in the wrong country (sorry though for USA and China)!

Ich nehme an recht vielen ICOs teil, die ja inzwischen praktisch alle irgendeine KYC-Prozedur machen. Bei zwei KYCs (WePower und Dether) hatte ich jetzt das Problem, dass angeblich die Qualität meiner Unterlagen nicht ausreicht. Das Problem ist, dass die einem ja nicht sagen, was genau schiefgelaufen ist. Wie macht ihr das? Eigentlich müsste das Abfotografieren des Persos mit einem durchschnittlichen Smartphone heutzutage ja ausreichend sein.

Wonderful! Really curious to see how ARMR will evolve!

Good day everybody!

Can someone please confirm that transactions currently might take really long before they are recorded in the HOQU dashboard? My balance still says 0 HQX although I have successfully transferred my ETH 15 hours ago.

Thanks!
mugwump

Hi all!

Does anybody know any similar projects to IUNGO? I'm also interested in non-blockchain projects in their field.

Thank you!
mugwump

Hi!

Just dropping by to ask whether there is a possibility of investing and when we might expect it?

Thanks
mugwump

Sounds like good news. I've got some questions though. I currently do not own any XCS but am very interested in knowing more about ARMR. Will ARMR be a clone of XCS so that it "contains" all features that are currently described in the XCS-whitepaper plus additional ARMR-features? Or should I wait for a specific ARMR-whitepaper that describes ARMR in more detail if I want to know more about this project?

Then there's the swap: The max supply of XCS is 255,834,082. Will ARMR have the same supply? In your announcement, you say that XCS will be swapped with a ratio of 1:3. Does that mean that the max supply of ARMR will be 3x the supply of XCS?

Thank you and good luck for your project!

Hi!

Ich habe inzwischen ein recht diversifiziertes Portfolio und bereite mich mental auf meine erste Steuererklärung mit Crypto vor. Weil ich nun Positionen in ziemlich vielen Coins halte und auch weiterhin in ICOs investieren will, drängt sich sicherlich irgendwann der Verdacht des geschäftlichen Handels auf. Ich habe allerdings bisher noch keine Position verkauft. Hat jemand Erfahrungen, ab wann das Finanzamt mit da krumm kommen könnte? Hängt dies auch davon ab, wie viele Einnahmen ich aus meinem Job habe (bin Freiberufler). Würde mich über Einschätzungen freuen!

They said so in the Telegram Chat

Hey all!

I'm having troubles finding a list of good coins for staking. I know you can stake WAVES and that it's a serious project (don't know about returns though) but most other topics I come across when looking for coins to stake seem to lack professionalism. Could it be that staking in general is not very much supported by the community? Everybody is so crazy about investing in ICOs and setting up mining rigs that consume a ton of energy, that the easiest way of generating a profit is overseen, it seems. What do you think?

I don't understand how people can be put off that easily. Electroneum is still a great project and one of the few where mass adoption is being addressed in a very creative way. The mobile mining experience is basically a marketing thing to hook people on. The max number of decimals is two which also isn't a necessity but a creative feature because people are putt of by paying like 0.000000023 shitcoins for their coffee. The blockchain itself is state of the art in that it allows anonymous transactions and has high transaction speeds. I see a lot of good things.

The security precautions, of course, should have been thought of way before the blockchain went live. It's surely not the typical ICO-experience where the investors can sell a share of their coins in the first few hours at high prices and then buy back when the price comes down again. With the price being now only around twice the ICO-price, all the people that missed out on the ICO can buy ETN for long-term at a very cheap rate. Usually, when you miss the ICO, you pay much more for the good coins. I personally would have loved selling a batch of my coins at 23x the ICO price within the first hours of trading and keep the rest for long-term. But the fact that this chance is missed due to the security precautions doesn't make ETN a shitcoin or a scam.

Here are mine:

https://universa.io/: Whole new concept of a blockchain where only the hashed results of the latest transactions are kept on the blockchain itself. The rest is basically outsourced to a sidechain. That way they promise to reach 20.000 transactions per second (!)

https://www.bitclave.com/en/: Decentralized search engine and ad ecosystem. Very ambitious project to disrupt the online ad industry, take away power from the giants (Google, Facebook) and let users decide, what data is publicly available for advertisers to analyze. Similar to Basic Attention Token.

https://confideal.io/: Smart contract editor for Ethereum. Will allow people to set up smart contracts without all the technical hassle. This one is largely about trust if it wants to find adoption. Confideal has arbitrators in case two parties end up having a dispute. If it works, this will be the place to go for businesses to setup smart contracts on Ethereum in a few clicks. (Integration of other smart contract platforms is planned as well)

As far as I know, the mobile mining thing is just a simulation. Am I wrong?