Alt-Coin Tezos

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Marchas45
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Re: Alt-Coin Tezos

Postby Marchas45 » Mon Nov 06, 2017

I wouldn't worry it's just a lawsuit filed by a disgruntled person that can't handle the wait. Lol By the way he only has just under a bitcoin invested.
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Long John
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Re: Alt-Coin Tezos

Postby Long John » Tue Nov 07, 2017

It's a bit more than that, it's a class-action suit. They're usually started by one person whose name is on the suit. Others who are concerned about the situation (and who have a hell of a lot more invested than I do) will join. I don't think it's the wait that has people worried, it's the battle between the people who hold the code and the person who holds the money (that's oversimplifying it) and the perception that the project is not moving as a result. It doesn't help that there has been a stream of stories in which Tezos is cited as an example of a crypto plan gone bad.

It also didn't help that one of the founders said people should consider the BTC and ETH they put into it as a donation, not an investment. A $232 million donation, worth half a billion dollars now thanks to Bitcoin's huge gains. That's some donation.

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Re: Alt-Coin Tezos

Postby Bucketeer » Sat Nov 11, 2017

Long John wrote:It's a bit more than that, it's a class-action suit.


If it isn't a class action lawsuit, it will become one, and it will be nationwide.

Somebody somewhere (Reddit?) stated that the complainant was ineligible to participate because of KYC regulations and the suit would be tossed out. I don't believe that for a second. The Foundation has the responsibility to determine the eligibility, and not just rubber-stamp the application and collect the coins.
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Marchas45
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Re: Alt-Coin Tezos

Postby Marchas45 » Sat Nov 11, 2017

They say it will Blow Over, We shall See.

https://www.coindesk.com/tezos-founders ... will-blow/
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Re: Alt-Coin Tezos

Postby Bucketeer » Sat Nov 11, 2017

Don't forget your umbrella. :wave:
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Re: Alt-Coin Tezos

Postby SilverDoge » Sat Nov 25, 2017

I haven't been following Tezos much. The funds they raised during the ICO, of $232 million, are now worth 3 times that - wow.

Here are some Twitter accounts if anyone wants to follow the team more closely:

Lead: https://twitter.com/ArthurB
Co-lead: https://twitter.com/breitwoman
Community: https://twitter.com/TezosCommunity
Foundation: https://twitter.com/TezosFoundation

The blockchain is currently launched in Alpha version.
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Long John
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Re: Alt-Coin Tezos

Postby Long John » Fri Dec 01, 2017

Reuters reports that the Tezos founders want to use the money raised in the ICO to cover any costs they incur in the multiple fraud lawsuits brought against them. I don't see how this can be allowed, since the lawsuits seek refunds from the same source, plus damages.

https://www.reuters.com/article/us-bitc ... SKBN1DV4K0

If they are required to refund investors, it ought to be exactly what was contributed, not cash. If you sent them 1 BTC, you should get 1 BTC back... not the $2500 and change that 1 BTC was worth at the time.

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Re: Alt-Coin Tezos

Postby SilverDoge » Sat Dec 02, 2017

Long John wrote:Reuters reports that the Tezos founders want to use the money raised in the ICO to cover any costs they incur in the multiple fraud lawsuits brought against them. I don't see how this can be allowed, since the lawsuits seek refunds from the same source, plus damages.

https://www.reuters.com/article/us-bitc ... SKBN1DV4K0

If they are required to refund investors, it ought to be exactly what was contributed, not cash. If you sent them 1 BTC, you should get 1 BTC back... not the $2500 and change that 1 BTC was worth at the time.


What is the alternative? What funds should they use? It isn't like all investors want their money back, so they'll be able to afford it, even if investors do win this lawsuit (which I doubt). These investors are hurting themselves. Unless there is real fraud going on, they are just slowing down the team from developing the Tezos blockchain. We all want to see this project a success and some people obviously invested more than they could afford to lose. Never break the first rule of crypto.
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Re: Alt-Coin Tezos

Postby SilverDoge » Tue Dec 12, 2017

SilverDoge wrote:
Bucketeer wrote:
Long John wrote:
SilverDoge wrote:So on 10DEC17, the XTZ price was $3.30. So on 10DEC18 if the USD price of (the actual) Tezos is $3.31 or above I would win, and if it is $3.30 or less I would lose? And I get 10:1 odds, right?

:lol: :lol: :lol: :lol: :lol: :clap:


You guys crack me up. :thumbup:

I don't do 10-1. You either win 1 Oz or lose 1 Oz. Price is $3.31 It has to be higher to win on 10DEC2018.

Tezos is a Ponzi. You will lose this bet Doge.

I'm only making 15 bets, 1 per customer.


Bet is ON. I will take your Engelhard.


Official bet. Moved to the Tezos thread.
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Re: Alt-Coin Tezos

Postby SilverDoge » Thu Dec 14, 2017

These guys are truly geeked out:
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Re: Alt-Coin Tezos

Postby SilverDoge » Fri Dec 15, 2017

SilverDoge wrote:
SilverDoge wrote:
Bucketeer wrote:
Long John wrote:
SilverDoge wrote:So on 10DEC17, the XTZ price was $3.30. So on 10DEC18 if the USD price of (the actual) Tezos is $3.31 or above I would win, and if it is $3.30 or less I would lose? And I get 10:1 odds, right?

:lol: :lol: :lol: :lol: :lol: :clap:


You guys crack me up. :thumbup:

I don't do 10-1. You either win 1 Oz or lose 1 Oz. Price is $3.31 It has to be higher to win on 10DEC2018.

Tezos is a Ponzi. You will lose this bet Doge.

I'm only making 15 bets, 1 per customer.


Bet is ON. I will take your Engelhard.


Official bet. Moved to the Tezos thread.


Bullish?
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Re: Alt-Coin Tezos

Postby dbm300 » Fri Dec 15, 2017

doesn't sound like they are anywhere near ready for launch
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Re: Alt-Coin Tezos

Postby Long John » Fri Dec 15, 2017

SilverDoge wrote:Bullish?
Tezos.png

Is there anyone here who is SO determinedly long that they would not take $5.25 each for the Tezos they bought for 40 cents or so? My little bag, which cost $255 worth of Bitcoin (at the time) is "worth" more than $3,000 if that IOU price on BTC is to be believed. I don't believe it. I think it's a lure to get me to deposit $3,000 worth of Bitcoin with them in order to sell my Tezos to... who, HitBTC? And they only have to give my Bitcoin back if they sell the Tezos at $5.25 or more once it's launched? Is that how it works?

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Re: Alt-Coin Tezos

Postby SilverDoge » Sat Dec 16, 2017

Long John wrote:Is there anyone here who is SO determinedly long that they would not take $5.25 each for the Tezos they bought for 40 cents or so? My little bag, which cost $255 worth of Bitcoin (at the time) is "worth" more than $3,000 if that IOU price on BTC is to be believed. I don't believe it. I think it's a lure to get me to deposit $3,000 worth of Bitcoin with them in order to sell my Tezos to... who, HitBTC? And they only have to give my Bitcoin back if they sell the Tezos at $5.25 or more once it's launched? Is that how it works?


I know people that would absolutely not sell for $5.25. They think Tezos is easily a top 5-10 coin which puts it in the double digit billions. I am skeptical of that, but there are believers out there. One valid point I heard was that Tezos has been in development since about 2014. If you look at what EOS is doing I guess it isn't all that surprising. EOS is probably near the same level of development, still in ICO, has only sold somewhere in the neighborhood of 30-ish percent of its actual tokens and it is mooning.

I wouldn't call it a lure for an ICO investor. You already have claim to your tezzies. It is a lure for those who missed the ICO, or who weren't in crypto during the ICO but want in now, etc. Would I personally buy at these prices? No, but that is because I have a position already. If I was trying to guess the next ETH though and I got into crypto in the last 6 months, I would likely split up some money and put half in EOS and half in XTZ and roll the dice.

HitBTC is not the bag holder here. These are actual customers exchanging the IOU tokens. The key is that you can't withdraw these yet, so they all exist on HitBTC's exchange. They are coupons for really Tezzies once it is launched because HitBTC mush have bought some amount during the ICO, so that they could create this market. It's actually a decent strategy because now they are currently the only source (exchange) where a person can go and buy Tezos on the market. Therefore if somebody wants Tezos before launch, they have to create a HitBTC account.
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Long John
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Re: Alt-Coin Tezos

Postby Long John » Sat Dec 16, 2017

Travis, I have no basis to dispute your points about Tezos' upside. I just have a hard time believing the price ($5.64 this morning) given the nature of the news about it since the ICO, and it may be manipulated by HitBTC itself.

I was tempted to sell back when it was much less than this and created a HitBTC account. I got as far as discovering I would have to deposit Bitcoin to cover the sale, to remain there with HitBTC presumably reaping the BTC increases, until Tezos is launched. I backed out of there and haven't been back since. Once Tezos launches, Is only the original cash value of my BTC, not the actual BTC at current value, available for withdrawal? I wish someone here who has done it would explain.

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Re: Alt-Coin Tezos

Postby SilverDoge » Sun Dec 17, 2017

Bucketeer wrote:Tezos.


Long John wrote:Travis, I have no basis to dispute your points about Tezos' upside. I just have a hard time believing the price ($5.64 this morning) given the nature of the news about it since the ICO, and it may be manipulated by HitBTC itself.


If you didn't believe that $5 price, how do you like the current price? :lol:

Double bullish?
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Re: Alt-Coin Tezos

Postby Long John » Sun Dec 17, 2017

SilverDoge wrote:
Bucketeer wrote:Tezos.
If you didn't believe that $5 price, how do you like the current price? :lol:

What the fluff? Somebody obviously believes it will launch and be viable. Since they're paying almost $11 each, and I paid less than 40 cents, their money is more where their mouth is than mine. :lol:

Actually, it could be argued that I paid $3.20 per coin, since Bitcoin has multiplied about 8X since then.

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Bucketeer
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Re: Alt-Coin Tezos

Postby Bucketeer » Tue Dec 19, 2017

Those are "per-launch" prices, and therefore meaningless. QTUM did the same thing, pre-launch.

I can't wait to hear your price comments after the filings are submitted to the docket. We'll see national TV ads for claimants from lawyers.

Your Ponzi is doomed.
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Re: Alt-Coin Tezos

Postby SilverDoge » Wed Dec 20, 2017

Bucketeer wrote:Those are "per-launch" prices, and therefore meaningless. QTUM did the same thing, pre-launch.

I can't wait to hear your price comments after the filings are submitted to the docket. We'll see national TV ads for claimants from lawyers.

Your Ponzi is doomed.


I do love a good battle. I am fully aware that those are pre-launch prices, but the reality is that somebody is paying those prices to get access to the future Tezzies even with the lawsuits and headaches. Sometimes the technical innovations are worth the risks.

You also need to re-look the definition on a Ponzi. While Tezos may be a poor investment in the long run, it surely isn't a Ponzi like BitConnect.

Looking forward to my Engelhard.
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Re: Alt-Coin Tezos

Postby Bucketeer » Wed Dec 20, 2017

I'd happily send it to you, a nice Canadian Red Label, but it isn't going to happen. SEC is gonna kill Tezos in the interests of consumer protection. Bwahahahaha, you're going to lose this one.

The SEC needs to get in the game, and they want a big fish for their 1st battle. Tezos mets the criteria. You are doomed.

The pre-launch prices are punk traders. One whale could make them run for the sidelines.

I'll give you some credit, Tezos may not be a Ponzi, but they want to use investor funds to pay for their legal defense. Scumbags.
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