He was their communications guy.  Still lists himself as an Iconomi employee on his LinkedIn.

Iconomi's communications have sucked ass for quite a while now, and Jaka had not said a single thing in over two months.

Jaka's unannounced departure from the company explains why he hadn't said anything in over two months.

Iconomi's failure to replace Jaka and have somebody in charge of communications explains in part why the team's communication has been fucking horrible.

I wanna know how the conversation went down.  "Hey our comms guy quit.  Should we look for a replacement?"  "Nah, communication is overrated.  I know we promised transparency but fuck it."

Jan Mohoric appears to be an Android dev.  

But he's also been with the team for almost a year according to his LinkedIn, so it's really just another example of lousy communication

They've had a communications guy from the beginning.  Jaka Mele aka /u/icojaka on Reddit.  AFAIK he hasn't done anything other than a couple retweets over the last 2 months though.

They also have a PR firm.  Wachsman.

I don't really see any trolls active here anymore.  In the old thread it was literally fake news.  Like "Breaking: Tim and Jani have been arrested in NYC by the SEC!" and all sorts of other false claims or just unsupported stuff about the team all being on extended Carribean vacations or "Price is going to tank hard today!  News coming at 2pm!  Get out now!"

What I see here now is a fairly healthy discussion.

Excellent point that ties in with what I just wrote on Reddit!  The reason why profit-sharing depended on a stable network is that it was supposed to have been executed via smart contracts.

In response to a statement along the lines of "ICN is like any currency, based on trust that everybody agrees it has value," I wrote:

Spot on.

Positivity at every turn huh?  I've worked with many emerging companies in the actual Silicon valley, so here's some obvious observations about "Silicon Valley for the Digital Age."

Iconomi has absolutely invested in Cofound.it.  Iconomi paid Jan and Daniel for 6 months and spent whatever amount of resources they used, to work on a mentoring program.  Jan and Daniel came up with IP during their time at Iconomi, which belongs to iconomi, that will now be going to Cofound.it.

Look at Cofound.it's announcement:


Finally, how much ICN are Jan and Daniel taking with themselves personally?  This is ICN that will no longer be available to entice future team members.  Edit: Jan indicated to me on Reddit that both he and Daniel only have ICN that they've bought on the open market.

It feels to me that the 10% is the absolute minimum that they could get away with and still try to sell this as a "spin-off."  In reality though, you don't ever "spin-off" what is essentially a start-up.  And under the circumstances, anything under 50% feels like a ripoff.  

10% isn't a "bonus."  It's likely an underpayment.

It is a fundamental change.  The whole sales pitch of Iconomi was "You bring the $$, our crypto expertise will do the rest!"  The project received an absolutely unprecedented amount of fiat funding during the ICO, indicating a large number of investors who are novices to the crypto world.  The idea of accumulating dividends in ETH is far different from having to periodically take profits by selling off small amounts of ICN.  Plus ETH is substantially more liquid (and reliable) an asset than ICN.

Second, it means no voting on major issues by ICN holders.  This is because if you were able to distribute voting rights (i.e. "ballots") to ICN holders, you could just as easily distribute dividends to them.

Third and relatedly, (and I have brought this up on Reddit several times and still nobody has explained otherwise), stocks in traditional markets that don't pay dividends have other characteristics that ICN does not have that provide actual rather than solely speculative value to shareholders.

Traditional stocks actually let you exercise voting rights.  ICN does not.

Traditional stocks are entitled to transparent accounting and information about how the company is being run.  ICN does not.

Quick list of broken promises, just off the top of my head:

• Team fund to be moved to segregated account in January
• Change in service operator (and subsequent refusal to even provide proof that it exists)
• Periodic "probably bi-weekly" AMAs on Reddit
• Quarterly expenditure reports showing amount and area of expenses (Iconomi has divested 2000BTC in just the last month.  Where the fuck is it going/has it gone?)

Add to these that we've got no idea on the terms of the Cofoundit spin-off.  Separation payments?  ICN retained? Intellectual property transferred?  You can tell me that ICN still represents an ownership share in Iconomi.  But when IP and employees start walking out the door to "spin-offs" and we have no clue what the terms were, that doesn't feel at all like ownership.

Traditional stocks can get paid out if a company is purchased or liquidated.  That can't happen with ICN.

ICN is opaque and powerless compared to traditional stocks.  It needs to provide dividends in ETH, which has real and established value.  It feels like the team is trying to ensure ICN liquidity (nice timing...) more than it's trying to return actual solid returns to its investors.

The buyback change is like abandoning gold-backed currency in a banana republic.

The team is so shady lately, I have absolute faith that they will launch the platform, or some major news, between now and first vesting.  Pump will come this month.

The lack of communication is astounding.  Just a week of solid silence after a dishonest blog post.

Synereo did it too as a price-pumping gimmick before their 2nd ICO round debacle.

https://blog.synereo.com/2016/09/16/synereo-burns-half-of-all-amps-in-existence/

Thanks for the kind mention.  I've now made stop-loss orders for all my ICN.  I really hope they don't fill but today's news is just beyond disappointing.

As a whole, Iconomi's communication just sucks ass.  Today's announcement just seems super sketchy.  Tim doesn't even acknowledge that the plan, this entire time along, was dividends.  They're not even admitting that this is a massive change in position.  

The whitepapers are no longer available on the Iconomi website as far as I can see.

They have a history of not answering simple questions.

Unfortunately, there's a very simple explanation for why their communication is so bad.  It's that they know what they're doing won't stand up to scrutiny, or there are things that they're hiding from us.  It's just really, really disappointing.  I'm still holding out hope though that there's a different explanation altogether.

Just like the thread is moderated to filter out the FUDders, can we also delete the baseless "lambo" posts?

FUD is FUD, but posting pictures of sports cars based on no news whatsoever is just as fucking stupid.

Huge dump because Iconomi team isn't being nearly as transparent as everyone had expected/wanted.  

Haven't released any financials or expenditures/budget info even though ICO closed an entire quarter + 3 weeks ago.  (This was promised to be provided "periodically," and we have no indication that they even plan to do it on any set date.)

Won't say where or when Iconomi Inc. was incorporated.  Obvious conclusion is that it's not been incorporated and they're just *acting like* it has been.

Changed from Cashila being the service operator to "Iconomi Inc." being the service operator.  Iconomi Inc., if it exists, is a special-purpose vehicle (SPV).  These are used primarily to attempt to insulate people from liability. So for example it would help them argue that Cashila is not liable if Iconomi crashes and burns or ends up being a scam (no, I don't think this is likely).

Three months ago Jani announced that they'd be doing periodic AMAs on Reddit.


Wanna know how many AMAs they've had?  One. One!!!  Three months ago!  So an AMA every other week was the "most likely" schedule, but instead we've had one in three months. It's like they say whatever sounds good at the time and then forget to follow up.  Jani nor anybody else ever came back around and said "hey we decided to scrap the AMA plans because XYZ."

I don't doubt that the team is hard at work trying to put a working product together.  But their communication sucks ass.  And that makes investors skittish.  And some people might actually doubt whether the team is hard at work (on a project other than making off with all the ICO funds), and that's understandable.

Well Iconomi only invested 5k ETH in Golem.

On another note, I instantly ignore anybody who uses the word "pump." 

"Pump" is a word used in regards to financial speculation, untethered from reality and actual results.  I, nor any other ICN holder, should want Iconomi to "pump."  We want it to appreciate in value because devs are delivering a product people will use.

I don't think the ppl who invested in Melon understood what they were buying.

I was intrigued and excited by Melon when it was first announced.  But then I saw what the Melon token actually was... no thanks.

Seriously you're just as bad as the FUDsters.  Just stfu with your bs spam already.  Ignored.

You didn't predict shit.  From the very beginning, OFMP was slated for 2017 generally.

http://imgur.com/JtB3ElR

Nobody with more than a couple brain cells to rub together ever thought that meant February.   Even when they accelerated things, they only promised an outline of the OMFP.  Not a full working version any time soon.

This is some good perspective.  ICN has as roughly as many tokens outstanding right now as ETH or ETC have coins.  To hit $20, ICN would be valued at twice what Ethereum is right now.  This is astoundingly unlikely.  $10 is astoundingly unlikely.  The ETC silliness is a fine target in the short run though.  A little over $1 per.

What are the plans for KMD that are not swapped for?

There is going to be a non-negligible percentage of BTCD that never gets swapped for KMD, because it's been lost or forgotten about. 

What is going to happen to that "extra" KMD on Jan. 9 2018?

I cannot for the life of me remember why I unignored you.   You're comparing Iconomi with a 125 year old multinational conglomerate that does business across at least 6 distinct economic sectors, in terms of price/dividend ratio.

Your comparison isn't even apples and oranges.  It's like cricket balls and oranges. Still-beating horse hearts and hand grenades perhaps.

What is your thought process, where you dig up this info and then trot it out here as relevant?