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Board Announcements (Altcoins)
Re: Mutual Trust - A Ubiq-based Token
by
mutual_trust
on 16/07/2017, 12:44:06 UTC
No update as of yet, but we're looking at options regarding the ICO/Fund Raising.


Considering the costs of listing an ICO on an exchange (i.e. a decent exchange with good volume) vs creating our own Smart Contract ICO instead, which can be done with the existing token that we have already created on the Ubiq network. Payment would then be made in Ubiq directly to the contract. This would mean we could move from a manual process to an automated one, giving investors some level of confidence that they do not have to rely on human interaction to get their tokens once payment has been made.



We are also considering the option of "going public" as opposed to running things anonymously, but as previously mentioned our accountant and the Fin-Tech people we spoke to previously advised against this, so weighing up the pros and cons of going public.


In the meantime, we've been looking for properties and plots of land, speaking with builders and estate agents in local areas to see what kinds of costs to purchase/build etc will be vs how much the houses are currently selling for in those areas. We've found a great plot which has permission to build 2 houses on it already, 1.3m GBP for the plot, and local builder advised cost of around 400-500k to build each house (depending on the spec/finish). So total spend would be in region of 2.3m GBP to build two houses on this plot, sounds like a lot, but estate agent in area just sold a house (built by this builder on this same road) for 2.2m, so there's potential there to spend 2.3-2.4m to buy plot and build 2 houses, then sell the houses for 2m+ each.



Right now - We have a few things to seriously consider/decide;

1 - Do we go public with our names (depending on the implications with regards to regulations/investment etc etc)
2 - Do we change the existing ICO "round 1" which is currently manually executed and exclusive for angel investors and strategic partners and rounds 2 and 3 away from the planned exchange ICO and move everything over to a Ubiq-based smart contract ICO instead so that the ICO is open to everyone to join.


In addition to those two points, I'm considering looking for a community manager to help manage the crypto-side of the project as we are currently extremely busy with our build-projects for clients and unfortunately they do take priority over everything else;

A community manager would need to help tidy-up the OP and manage this thread as well as promote things on social media to bring in more attention to the project.


Also, if we decide to go down the Smart Contract ICO route, we might need a solidity coder who can write the ICO contract for us to ensure everything is correct and we won't face any problems with the contract or funding.

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Topic
Board Announcements (Altcoins)
Re: Mutual Trust - A Ubiq-based Token
by
mutual_trust
on 29/04/2017, 10:45:16 UTC
I think, the time of companytoken will incoming faster than we maybe believe.

So...I am curious and follow for a while this thread here!

Greetz
Steve


Thanks Steve, its good to see someone with your reputation take an interest in what we are trying to do!
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Topic
Board Announcements (Altcoins)
Re: Mutual Trust - A Ubiq-based Token
by
mutual_trust
on 29/04/2017, 10:36:53 UTC
@poulembertus, already mentioned bounties, see below "quote", we are open to suggestions.


Is there a signature or bounty campaign?

Sorry, what do you mean when you say Signature?

Bounty Campaign is not something we've thought about to be honest, but I know people don't do anything for free. I can see several open offers here to translate our ANN and Website etc, I've also received several private offers too, so this is something I will discuss with my partner and see what we can realistically offer.


One thing to keep in mind really is that this is a "real world" project. So any MTC given away as a reward for doing something essentially has to be recovered by us on a building project.
So, for instance, if we expect to make 5-10% profit on a project and we were to give away 10% of the supply, we would essentially need to run an entire project in order to recover that 10% (hope that makes sense).


With regards to bounties - What sort of things do you think would be worth us looking for?
Obviously there are already people offering to do translations, what else should be look for? Artwork? Marketing Campaigns?


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Topic
Board Announcements (Altcoins)
Re: Mutual Trust - A Ubiq-based Token
by
mutual_trust
on 28/04/2017, 19:39:56 UTC
Why you put your token on Ubiq network. There is not so much going on there.
Why not use e.g. ETH?


I was originally going to make the token on the ETH network, but as Ubiq is pretty new the hope is that a project like this might be of interest to their growing community.


What is the thought to choose this network the original one ETH is more secure it going more hot. The clone will remain always like that so better choose the original network for this token it has more high chance to grow.


I understand what you are saying, but since MTC is not linked to the actual value of UBIQ (or Eth if it were made on the Eth network) the price of Ubiq/ETH has no bearing on the price of MTC.

In fact, if anything, the increasing price of ETH makes Ubiq more attractive for making new contracts/tokens due to the gas price for deploying a contact and/or sending tokens (i.e. it would cost more to send you MTC using ETH than it costs to send the same amount of MTC using UBIQ).

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Topic
Board Announcements (Altcoins)
Re: Mutual Trust - A Ubiq-based Token
by
mutual_trust
on 28/04/2017, 19:20:28 UTC
Is there a signature or bounty campaign?

Sorry, what do you mean when you say Signature?

Bounty Campaign is not something we've thought about to be honest, but I know people don't do anything for free. I can see several open offers here to translate our ANN and Website etc, I've also received several private offers too, so this is something I will discuss with my partner and see what we can realistically offer.


One thing to keep in mind really is that this is a "real world" project. So any MTC given away as a reward for doing something essentially has to be recovered by us on a building project.
So, for instance, if we expect to make 5-10% profit on a project and we were to give away 10% of the supply, we would essentially need to run an entire project in order to recover that 10% (hope that makes sense).


With regards to bounties - What sort of things do you think would be worth us looking for?
Obviously there are already people offering to do translations, what else should be look for? Artwork? Marketing Campaigns?
Post
Topic
Board Announcements (Altcoins)
Re: Mutual Trust - A Ubiq-based Token
by
mutual_trust
on 28/04/2017, 19:13:28 UTC
That's a lot of BTC already even at 800sat, if in case those 100M coins are sold at round 1.
The dev needs to do some active campaigns here to sell his tokens.

By the way, in what part of the world do you plan to build those residential buildings or do these construction projects?
There's quite a few similar projects that were launched before, but unfortunately they failed.
So what are the unique features of your project that will be different from the others and will be a good investment?
With regards to the funds being raised, any unsold MTC will be destroyed by the public exchange when round 3 of the IPO ends, assuming we "only" sell between 50-100m, we would raise upto 800 Bitcoin, with a current market value of just over $1m, obviously for a small business this is a large amount of money, but for property development / construction, this is quite small.

We, and the construction projects, are based in the UK, hence the hopes of raising a large sum. Property, land to build on or existing houses to renovate, are not cheap. We estimate we need to raise at least $600-$700k in order to run a small/medium sized project.

I know of only 1 project that was similar (Arch) that failed. I have been told by a couple of different people that they failed for different reasons, one person told me they failed because of regulations with regard to investing and/or investment/promises of high-profit returns etc, another person told me they failed simply because the developer didn't actually have a clue about the industry they were stepping into.

WE are already experienced in the construction and development industry and have been for a combined 30 years between just two of us (who do the main bulk of the work), WE are relatively new to the crypto-industry but see this as a way of making a project actually work and have something tangible behind a coin/token instead of empty promises of the moon.


Thanks for the reply.
By the way, have you checked on this project - https://bitcointalk.org/index.php?topic=1808911.0 ?
This kind of project is really hard to entice investors.

Where is the real value of this token?
Nothing, but just ask for money, a lot of money (several thousand BTC)?
Like an American dream, or more like a daydream. Grin Grin

And one more thing, if you have the experience as what you were saying, then, there's no problem of providing us your linkedin profiles to verify your claim.



I had not seen that project, I will have a good look at it and see what they are doing, thanks for the link.

I agree, this kind of project is hard to attract investors, we have had delays in getting the token put together and the BitcoinTalk Announcement out because I've been speaking with people about investing into the project prior to putting everything together ready for launch, the reason the O.P. is somewhat lacking in "glitter" is because we wanted to get some kind of announcement out to the crypto community ASAP as those initial investors are actually ready to start making purchases.



As stated above, I've been told that one of the main reasons previous projects similar to ours failed in the past (ARCH) was due to regulations.
Don't read this wrong, I know there are not "Regulations" with regards to Cryptocurrency, but there are regulations with regards to investing and investment opportunities.
Prior to starting this project I took advice from a UK-based specialist in FinTech Regulations, I was told that no matter what small-print we use or how the wording is published, if our project APPEARS to offer an investment opportunity, i.e. if people are purchasing in the hope to garner profits from the actions that we carry out (i.e. building / construction etc) then it could be viewed as an investment opportunity, and therefore COULD be subject to regulations. I discussed at length with my accountant and the FinTech regulations company and all parties agreed that if the coin (token) itself was not linked to us as individuals or our company then even if there were regulations / guidelines to follow there would be no real way to enforce them upon us.
Post
Topic
Board Announcements (Altcoins)
Re: Mutual Trust - A Ubiq-based Token
by
mutual_trust
on 28/04/2017, 18:56:25 UTC
Why you put your token on Ubiq network. There is not so much going on there.
Why not use e.g. ETH?


I was originally going to make the token on the ETH network, but as Ubiq is pretty new the hope is that a project like this might be of interest to their growing community.
Post
Topic
Board Announcements (Altcoins)
Re: Mutual Trust - A Ubiq-based Token
by
mutual_trust
on 28/04/2017, 05:06:57 UTC
come on dev, do defense for your shit ! silence not gives you BTC  Grin

hmm one more thing your Ann are ridiculous, say it was just updated in due course lol

Haha.. from what I read, it is an ico type loan for him to flip houses and potentially
put some money back in

Firstly - I'll make it clear here, I'm not here to take part in arguments etc. I will answer questions when I can.

The ANN says it will be updated in due course because I plan to come back and update in due course, i.e. when I have something to come back and actually update.
I will be checking back as often as I can, I do currently run construction projects 5 days a week and therefore cannot be at the computer 24/7 to "Do defense on my shit" as you so elegantly put it but will come and reply to questions etc when I can.

With regards to this ICO being a type of loan for me to flip houses, I'm not trying to make promises that MTC will be the next "rival to Bitcoin" or anything here. MTC IS essentially a way for our company to raise funds in order to flip houses, and it is our intention that once a house has been flipped, to return to the market to inject the profits made and hopefully push up the marketcap.

Post
Topic
Board Announcements (Altcoins)
Re: Mutual Trust - A Ubiq-based Token
by
mutual_trust
on 28/04/2017, 04:59:31 UTC
Total Supply; 200,000,000  Roll Eyes
Round 1, MTC cost 800 Satoshi each
Round 2, MTC cost 1000 Satoshi each
Round 3, MTC cost 1500 Satoshi each

Round 4, MTC cost 5000 Satoshi each  Grin Grin Grin

That's a lot of BTC already even at 800sat, if in case those 100M coins are sold at round 1.
The dev needs to do some active campaigns here to sell his tokens.

By the way, in what part of the world do you plan to build those residential buildings or do these construction projects?
There's quite a few similar projects that were launched before, but unfortunately they failed.
So what are the unique features of your project that will be different from the others and will be a good investment?


With regards to the funds being raised, any unsold MTC will be destroyed by the public exchange when round 3 of the IPO ends, assuming we "only" sell between 50-100m, we would raise upto 800 Bitcoin, with a current market value of just over $1m, obviously for a small business this is a large amount of money, but for property development / construction, this is quite small.

We, and the construction projects, are based in the UK, hence the hopes of raising a large sum. Property, land to build on or existing houses to renovate, are not cheap. We estimate we need to raise at least $600-$700k in order to run a small/medium sized project.

I know of only 1 project that was similar (Arch) that failed. I have been told by a couple of different people that they failed for different reasons, one person told me they failed because of regulations with regard to investing and/or investment/promises of high-profit returns etc, another person told me they failed simply because the developer didn't actually have a clue about the industry they were stepping into.

WE are already experienced in the construction and development industry and have been for a combined 30 years between just two of us (who do the main bulk of the work), WE are relatively new to the crypto-industry but see this as a way of making a project actually work and have something tangible behind a coin/token instead of empty promises of the moon.
Post
Topic
Board Announcements (Altcoins)
Re: Mutual Trust - A Ubiq-based Token
by
mutual_trust
on 28/04/2017, 04:51:06 UTC
Your white paper has a typo, last paragraph, first sentemce. Or in other words one of the most important lines in any body of text.

 Undecided

Thank you! I've asked the web-guy to sort it, which he is doing now.
Just checked what I sent to him and my copy is typo-free.
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Topic
Board Announcements (Altcoins)
Topic OP
Mutual Trust - A Ubiq-based Token
by
mutual_trust
on 27/04/2017, 22:45:53 UTC
For now, I am keeping this ANN short and to the point, edits and updates will follow in due course.



Mutual Trust [MTC]

MTC is a UBIQ based token (https://bitcointalk.org/index.php?topic=1763606.0)

Total Supply; 200,000,000

Website: www.MTC.money



The full supply is to be sold by several rounds of Initial Public Offering

Funds raised from the IPO’s will be used to fund real-world, residential building/construction projects, with any returned funds/profits from these projects being injected into the open market in a repurchasing capacity.

Fund raising has just started, with funds being pledged by Strategic Partners and Angel Investors to help raise initial capital which will help pay for marketing and development. When the first round of fund raising has come to an end MTC will be listed on a public exchange for rounds 2 and 3 IPO to the general public.

We are currently looking for further strategic partners and angel investors to help raise initial capital. If you are interested in being a strategic partner or angel investor you can contact us using the form on the website (http://mtc.money/contact).

IPO Info: Finalised dates are yet to be set for deadlines for each round but will follow a rough-guideline as per the following;

Once Round 1 (Strategic Partners and Angel Investors) has surpassed 50 million MTC sold round 1 will end in 4 weeks. When Round 1 ends MTC will be listed on a public exchange for Rounds 2 and 3. Rounds 2 and 3 will run for four weeks each.
After Round 3 has ended, the public exchange will release raised funds to MTC developers and the coin will be tradable publicly.

IPO Costs:
ROUND 1: Strategic Partners & Angel Investors; First 50 million MTC plus a further four weeks of Round 1, UP TO 100 million coins. If 100 million coins are sold in Round 1 before the 4th week we will seek to start public Round 2 ASAP.
Round 1 Cost: 800 Satoshi per coin

ROUND 2: Public IPO; Up to 100 million MTC total (including coins sold in Round 1)
Round 2 will run for a 4 week period once started. Any unsold coins from the first 100 million will be destroyed by the public exchange before the start of round 3.
Round 2 Cost: 1000 Satoshi per coin

ROUND 3: Public IPO; Remaining 100 million MTC total.
Round 3 will run for a 4 week period once started. Any unsold coins from the remaining 100 million will be destroyed by the public exchange before raised funds are released to MTC developers and the coin will open for public exchange.
Round 3 Cost: 1500 Satoshi per coin



WALLET:

In order to send and receive MTC you will need to download and install the Ubiq Fusion wallet,

Fusion GUI wallet - https://github.com/ubiq/fusion/releases

Source Code - https://github.com/ubiq/go-ubiq

Gubiq binaries available - https://github.com/ubiq/go-ubiq/releases/

Once downloaded, installed and synced with the Ubiq network, you can add MTC to your Watched Tokens / Watched Contracts;
In order to transact MTC you need to “watch” the MTC Token.
If you want to see all transactions that involve MTC, you need to "watch" the Contract.


Watch Token (in order to receive MTC to your wallet);
On the Wallet Page, click “Contracts” in the top-right corner,
At the bottom of the page, click “Watch Token”,
In the “Token Contract Address” enter: 0xb2971e9aEC6Af7B8c7979D873A80187998fAE382 (This is the address of the MTC Contract)
The Token Name and Symbol should auto-fill, now click OK.
Now your wallet can “see” MTC tokens if sent to your Ubiq wallet address.

Watch Contract (in order to see MTC transactions on the network);
On the wallet page, in the top right corner click “Contract”
Then on the left side of the page click “Watch Contract”

Enter the following info into the box that pops up;

Contact Name: Mutual Trust

Contract Address: 0xb2971e9aEC6Af7B8c7979D873A80187998fAE382

Json Interface copy and paste all of this into the box, Then press OK.

Quote

[ { "constant": true, "inputs": [], "name": "name", "outputs": [ { "name": "", "type": "string", "value": "Mutual Trust" } ], "payable": false, "type": "function" }, { "constant": false, "inputs": [ { "name": "_spender", "type": "address" }, { "name": "_value", "type": "uint256" } ], "name": "approve", "outputs": [ { "name": "success", "type": "bool" } ], "payable": false, "type": "function" }, { "constant": true, "inputs": [], "name": "totalSupply", "outputs": [ { "name": "", "type": "uint256", "value": "20000000000000000" } ], "payable": false, "type": "function" }, { "constant": false, "inputs": [ { "name": "_from", "type": "address" }, { "name": "_to", "type": "address" }, { "name": "_value", "type": "uint256" } ], "name": "transferFrom", "outputs": [ { "name": "success", "type": "bool" } ], "payable": false, "type": "function" }, { "constant": true, "inputs": [], "name": "decimals", "outputs": [ { "name": "", "type": "uint8", "value": "8" } ], "payable": false, "type": "function" }, { "constant": true, "inputs": [], "name": "standard", "outputs": [ { "name": "", "type": "string", "value": "Token 0.1" } ], "payable": false, "type": "function" }, { "constant": true, "inputs": [ { "name": "", "type": "address" } ], "name": "balanceOf", "outputs": [ { "name": "", "type": "uint256", "value": "0" } ], "payable": false, "type": "function" }, { "constant": true, "inputs": [], "name": "symbol", "outputs": [ { "name": "", "type": "string", "value": "MTC" } ], "payable": false, "type": "function" }, { "constant": false, "inputs": [ { "name": "_to", "type": "address" }, { "name": "_value", "type": "uint256" } ], "name": "transfer", "outputs": [], "payable": false, "type": "function" }, { "constant": false, "inputs": [ { "name": "_spender", "type": "address" }, { "name": "_value", "type": "uint256" }, { "name": "_extraData", "type": "bytes" } ], "name": "approveAndCall", "outputs": [ { "name": "success", "type": "bool" } ], "payable": false, "type": "function" }, { "constant": true, "inputs": [ { "name": "", "type": "address" }, { "name": "", "type": "address" } ], "name": "allowance", "outputs": [ { "name": "", "type": "uint256", "value": "0" } ], "payable": false, "type": "function" }, { "inputs": [ { "name": "initialSupply", "type": "uint256", "index": 0, "typeShort": "uint", "bits": "256", "displayName": "initial Supply", "template": "elements_input_uint", "value": "20000000000000000" }, { "name": "tokenName", "type": "string", "index": 1, "typeShort": "string", "bits": "", "displayName": "token Name", "template": "elements_input_string", "value": "Mutual Trust" }, { "name": "decimalUnits", "type": "uint8", "index": 2, "typeShort": "uint", "bits": "8", "displayName": "decimal Units", "template": "elements_input_uint", "value": "8" }, { "name": "tokenSymbol", "type": "string", "index": 3, "typeShort": "string", "bits": "", "displayName": "token Symbol", "template": "elements_input_string", "value": "MTC" } ], "payable": false, "type": "constructor" }, { "payable": false, "type": "fallback" }, { "anonymous": false, "inputs": [ { "indexed": true, "name": "from", "type": "address" }, { "indexed": true, "name": "to", "type": "address" }, { "indexed": false, "name": "value", "type": "uint256" } ], "name": "Transfer", "type": "event" } ]


Further updates and edits will follow in due course.
I will try to get back on here to answer any questions when possible.