Edgeless Answers FAQ on Eve of ICO


Edgeless, the world’s first 0% house edge online casino built on top of Ethereum using provable randomness and smart contracts, has provided a giant, comprehensive list of answers to some of the most frequently asked questions. The timing is well received by the community, coming just 2 days before the start of its Initial Coin Offering (ICO) where the project aims to raise around 400,000 ETH (around $5 million). You can read the post here.

There have been some questions and skepticism among the crypto community on how exactly Edegeless will make money if it is a 0% house edge and whether its claims of provable randomness are accurate. With the latest FAQ answered, the Edgeless team hopes to put all such speculation to rest, and instead focus on project development and fundraising through the ICO by providing a valuable service to the community.

The post also clarified some legal questions around the ICO and the reasons behind why certain structures were chosen over a more traditional ‘dividend’ that has been adopted by previous projects like ICONOMI. One of the reasons for not paying ‘dividends’ is that not doing so makes it easier from a legal perspective. Another reason is that it is easier to get the Edgeless (EDG) token listed on exchanges if there are no dividends. This seems to be one of the criteria for Poloniex, which continues to be the largest crypto-exchange for altcoins generally, including new ICO tokens. On the legal side, the team again clarified that no US investors are allowed in the ICO, and that the project will block US-based IP addresses (although acknowledging that it is possible to use VPNs by American persons – but the project can prove it had sufficient safeguards in place, if questioned by US authorities).

The post comes at a critical time for Edgeless project, with the ICO beginning in just 2 days. Edgeless also has a power-hour where the price of EDG tokens will be lower – 1 ETH during the first hour will get investors 1200 EDG. The first week bonus is 1100 EDG for 1 ETH. The project aims to sell all of 440,000,000 EDG tokens during the ICO to investors. Depending on what price they’re able to get (i.e. different bonus tiers), Edgeless will end up with 370,000 to 440,000 ETH at the end of the ICO if successful. A total of 500,000,000 EDG will exist in total.

Edgeless ICO will hope that the recent investor enthusiasm for projects like Dfinity and Melon will carry over to Edgeless as well. The more recent ICOs showed there is still a lot of investor appetite for Ethereum-based ICOs that appeal to the community. Gambling seems like an industry that can be made significantly better using the tools available in Ethereum.

Check out the Edgeless official site and ICO details here.

Disclaimer: US citizens are not legally allowed to participate in Edgeless Project crowdsale

Photo Credit: martini

Share and Enjoy

  • Facebook
  • Twitter
  • Delicious
  • LinkedIn
  • StumbleUpon
  • Add to favorites
  • Email
  • RSS

Augmentors Combines AR and Blockchain Into a Powerful Offering

Augmentors VR
Augmentors is what you get when you combine the two hottest trends in technology at the moment – Augmented Reality (AR) gaming and blockchain. And that deadly combination, says your ship captain, isn’t without merit. The natural combination provides features that have never been available to game fans before. Unique characters, ability to trade and make money, and just being part of what seems like the next tech revolution, are not quantifiable in money. But the ICO definitely is.

But before we get into the ICO, some history. Augmentors is essentially a gaming company. You’ll be playing a game with unique creatures and characters, and augmentors is presenting the in-game token of Databits. The technicals behind this token are quite interesting too. The team has chosen to use Counterparty to issue these tokens. This makes Augmentors the first AR gaming company on Bitcoin, the most dominant crypto and blockchain today, by far. Secondly, there is a precedent for gaming and Counterparty in the form of BitCrystals. Although  not the greatest financial hit, Spells of Genesis is a well known game in the Bitcoin community, what with its mysterious Satoshi card! So there is definitely demand for crypto tokens and gaming.

Augmentor Relics

Augmentors is taking this one step further by making the gaming platform even more exciting, by making it AR-enabled. It plans to make this cross-platform too, for both iOS and Android.

Now the concept behind Augmentors is really interesting because the in-game token that is being sold in the ICO, called databits (DBS) has real in-game value. For one, you can provably assign each ‘creature and relic’ in the game to a unique counterparty token id. This means you really do own the creature, and can trade it to someone else. Instantly, there is a liquid trading market to bootstrap both the game and the players. Just so if the excitement wasn’t enough for you, there are Winner-Take-All battles that are sure to get exciting. Finally, there will be a collection of 50 rare creatures that you can buy. All of this in-game economic activity takes place using the in-game ICO token Databits.

Augmentors ICO Schedule

Now that we know about this really interesting Counterparty token, let’s talk about the ICO. The token has a fixed cap of 100 million, with 70 million being given away during the crowdsale ICO and 30 million reserved for the team and promotional activities. That’s a healthy percentage to motivate the team to perform well, while giving investors the majority stake in the economics to keep the system decentralized.

So there you have it. There is still time to get in on this exciting ICO. Check it out here.

Share and Enjoy

  • Facebook
  • Twitter
  • Delicious
  • LinkedIn
  • StumbleUpon
  • Add to favorites
  • Email
  • RSS

Edgeless Casino: Fair, No Edge, Blockchain-Based Casino

Edgeless Casino
Edgeless casino is a new Ethereum project with the aim to create a decentralized, fair casino with no house edge. That’s right, Edgeless is a provably fair casino with 0% edge. So let’s get the first immediate question answered – how does Edgeless make money? Three sources primarily –

  • Gamblers don’t play a perfect game, they make mistakes. If you don’t play a perfect game, statistically you’ll lose.
  • Games have an inherent advantage. For example, the house always has an edge built into the game of Blackjack (around 0.85% if you want the math).
  • There are limits on how much you can bet. These limits make play away from perfect game. For example, for obvious reasons, you cannot apply the martingale strategy.

If you really want to know more, read the whitepaper. Seriously folks, read the damn whitepaper first to learn about any crypto project, especially because of what I am about to tell you now – yes, it is holding an ICO. Now, don’t be stupid and gamble in ICOs without doing your due diligence, so once again, read the whitepaper before you invest a penny. Oh and did you know, like so many other ICOs now, no US citizens allowed. Seriously.

Non-US Investors, Read on

Ok, so if you’re a non-US investor, what’s the ICO investment thesis for Edgeless? Firstly, you need to believe that the world needs another casino. The unique selling point of Edgeless casino is –

  • It’s decentralized.
  • It’s transparent.
  • There is no house edge.

If you believe there will be demand from gamblers for such a type of casino, only then consider the ICO. Ahoy mates, without a belief in the product and underlying idea, stay away!

Now, given the ways in which Edgeless casino will make money, as described above, how is that given to the investors? It’s important to note this point – not dividends. Unlike many other projects (I am looking at you, ICONOMI), Edgeless has actually done its homework on what types of structures constitute a ‘dividend’ and thus makes the offering a ‘security’. And we all know, security=bad, software presale=good. So, edgeless is choosing the good option.

But, here’s the brilliant legal part of this offering – you can still get money out of the project (i.e. not just through price speculation) through what’s called the Edgeless Lounge. In a nutshell, 40% of the profits go into this pool. It’s a lottery-like system only accessible via the token. So there you have it – it’s a way to play/gamble to get your money out. Clever, eh?

ICO Implementation

If you’re brave enough, here’s the actual contract. In code. It’s an ERC20 token on Ethereum.

The ICO starts 28th February 2017, 3:00 pm GMT, with the following tiers:

  • Power-hour for one hour, where 1 ETH buys you 1200 EDG.
  • 1st week: 1 ETH gets you 1100 EDG.
  • 2nd week: 1 ETH earns you 1050 EDG.
  • 3rd week: 1 ETH brings you 1000 EDG.

So there you have the ICO details, and other information that you need to decide whether you want to contribute to the ICO or not. Remember, these are some hot times in the ICO markets, with recent projects like Dfinity and Melon completing their ICOs respectively in a few hours and a few minutes.

Check out Edgeless here.

Disclaimer: US citizens are not legally allowed to participate in Edgeless Project crowdsale.

 

Share and Enjoy

  • Facebook
  • Twitter
  • Delicious
  • LinkedIn
  • StumbleUpon
  • Add to favorites
  • Email
  • RSS

ARK: A New Cryptocurrency With a Mission

ark

In a crowded field of altcoins and ICOs coming up every other day, ARK aims to stand out from the rest through its technology and vision. Yes, it is also going to go through an ICO, but it isn’t one of those copy-paste coins (and if it were, we likely wouldn’t be covering it on our blog anyway). As usual, if you decide to invest in any ICO, do your due diligence and remember not to invest your rent money into any. Also, if you’re interested, here’s the link to its Bitcointalk announcement thread.

Technology

So let’s tackle the technology piece first. ARK is built on the backs of Lisk (and Crypti) and Bitshares. As you might have guessed, it borrows its consensus algorithm from Bitshares, via the delegated proof of stake (DPoS) system.

More interestingly, ARK is building a ‘smartbridge’ technology. It is a custom piece of information embedded in transactions that allow it to transact in a different blockchain. This way, ARK can easily adjust whichever way the wind flows, and borrow from the more successful blockchains even as it grows and expands its services and technology.

The ARK technology gives it a lot of technical flexibility to steer its direction in the future. As the space is really emerging at the moment with no clear winners or a clear sense of which way the ship will turn, ARK provides a framework to capture the best of the cryptocurrency space.

In addition to just cryptocurrency/blockchain technologies, the team has plans to work on implementing smart cards that can allow users to spend their money. We’ll cover more details in the Vision section below.

Vision

In addition to its technology and technological vision, ARK is really positioning itself as a crypto for the long-term. It is trying to build an entire ecosystem that isn’t just geared to do the fancy-word-of-the-day type uses, but plain old cryptocurrency. The currency aspect of cryptocurrency really.

It is also working on technologies for smart cards using NFC that will make it easier to spend ARK at in-person venues and not just online. This should give ARK a good boost in terms of adoption if it is able to convince enough merchants to accept payments and enough users to pay using ARK.

The bridged blockchain technology via smartbridge will also allow the ARK team the flexibility to expand its vision for its customers in the future.

If you believe in its vision and see some utility for it down the road, you can invest in its ICO. Do your research and due diligence as always.

Share and Enjoy

  • Facebook
  • Twitter
  • Delicious
  • LinkedIn
  • StumbleUpon
  • Add to favorites
  • Email
  • RSS

The Value Proposition of ICONOMI

iconomi-value

Note: ICONOMI ICO is ongoing

ICONOMI is generating a lot of buzz, but sometimes the true value proposition gets hidden under all the spam that you see on Twitter and Bitcointalk (to their credit, the ICONOMI team is really serious about not rewarding spam, and I commend them for that). So here’s the value proposition of ICONOMI for investors. Please remember that any ICO investment is risky, and you absolutely should not invest more than you can afford to lose.

Real Business Proposition

ICONOMI isn’t yet another altcoin. It has a real business behind it. Real businesses make profits, have earnings and revenues. Altcoins don’t. Therefore ICONOMI, even though it is a token on a blockchain, is much more than just an altcoin.

Therefore, investing in ICONOMI is very different from investing in all these other ICOs that are going on. You will own a piece of a business that generates profits.

Investor Dividends

There are no cryptocurrencies today that give regular dividends to holders. The first time this was really put forward was with Augur. However, Augur isn’t launched yet. ICONOMI is doing the same with its token – giving monthly dividends to investors. This can be quite variable I know but it is a pretty good value proposition.

If you make a stock market analogy, you get both dividends and capital appreciation (increase in share price). Over the long-term, dividends can be a very important component of returns. In fact, for stocks, they have been the dominant source of returns over >50 year holding period.

Disrupting a Stodgy, Old Industry

ICONOMI is in the fund management business. That’s a multi-trillion dollar industry right there. It is also old and stodgy and hasn’t seen innovation in decades. It is ripe for disruption by a startup. The existing players sit on a gold-mine, and investors are forced to use the existing systems because there is no competition.

ICONOMI has come out of the blue, and is sure to kick the incumbents into action. However, it will likely be too late for them by the time they realize its potential. Fund management is huge. Even if ICONOMI is able to obtain a very small piece of this pie, like 0.01%, it will end up being very large, in the order of billions of dollars. That’s a huge opportunity right there.

Platform Economy

This is a less-often discussed aspect of ICONOMI, but is a powerful tailwind going forward. In addition to the 2 funds – INDEX and PERFORMANCE, ICONOMI will also launch a fund management platform. This will allow other crypto investors and traders to offer their own funds to their clients. It is like a platform that allows anyone, even with $0 in their bank account, to start a hedge fund. Let that sink in for a moment.

We have seen how tech companies that build platform economies can be massively successful. Uber is a $60 billion company. Airbnb is a $25 billion company. Even if ICONOMI becomes a $1 billion company, it will be a huge part of the crypto ecosystem.

So there you have it. These are some of the value propositions for ICONOMI. What other killer features did I miss? Let me know in the comments.

Check out the ICO here

Bounty claim code: ICO3T68g7bnfDVOnqbjlk7ZqdXYnP7fPYNHICONOMI

Photo Credit: Chicago Man

Share and Enjoy

  • Facebook
  • Twitter
  • Delicious
  • LinkedIn
  • StumbleUpon
  • Add to favorites
  • Email
  • RSS

ICONOMI ICO Continues to Impress: 15 More Days to go

iconomi-15-days

ICONOMI continues to perform an impressive job at its ICO. Check the latest ICO stats here. At the time of this writing, over $4.5 million was raised by ICONOMI. That’s an impressive number, even in today’s environment when there are so many ICOs that are competing for investor attention and dollars. If you want to be a part of this ICO, you have just about 2 weeks left now until the ICO finishes.

Changes to total Bitcoin raised in ICO

Originally, ICONOMI started with just a floor on the ICO of 2000 BTC. To be sure, that is also a fairly significant number, since very few ICOs will be able to raise 2000 BTC  (about $1.2 million). However, ICONOMI ICO blew past that number very easily in just a couple of days of the ICO being open. There was no cap on the ICO initially, which meant as the number of investment dollars (or Bitcoin) increased, each person’s share kept decreasing.

Listening to community concerns around this, the ICONOMI team decided to put a cap on the money raised in the ICO. This was a smart move, as they show they are willing to learn and change direction for the betterment of their project, aka they listen to the community that is heavily invested in this project.

So the new limits are as follows: 21,000 BTC hard cap on the ICO. Any amount raised over 10,000 BTC will be invested in the ICONOMI.PERFORMANCE fund.

iconomi-total-raise

Right now, the ICO stands around 7600 BTC.

This is a very smart move (although in my opinion, it should be a small percentage even if less than 10,000 BTC is raised) because it gets the flagship fund, ICONOMI.PERFORMANCE off the ground with ready investors – investors that have already shown a willingness to trust the team. This is like a prop-trading account – essentially, a hedge fund investing its own money in one of its funds. That’s exactly what is needed.

So with this one change to the ICO, the ICONOMI project has gotten far more interesting than it was at the beginning. It is not too late for you to invest – here’s the link.

Bounty claim code: ICO3T68g7bnfDVOnqbjlk7ZqdXYnP7fPYNHICONOMI

Share and Enjoy

  • Facebook
  • Twitter
  • Delicious
  • LinkedIn
  • StumbleUpon
  • Add to favorites
  • Email
  • RSS

Introducing ReturnBit: Proof of Work with ICO

ReturnbitThere are lots of new ICOs at the moment. This usually happens after a few really successful ICOs and then everyone wants to jump on-board (Lisk and Waves in this case). ReturnBit is a bit different from all other ICOs at the moment, firstly by using proof of work (scrypt algorithm, same as Litecoin). Not many new ICOs are using proof of work, instead opting for proof of stake. Also, the number of coins at ReturnBit will inflate, as opposed to many of the other ICO coins that have a fixed supply (mostly because they don’t need to pay block rewards for proof of work).

Secondly, the coin is creating an “rTrust” which will receive 50 coins per block. This is an opportunistic fund that will selectively return these ReturnBits to holders, but does it differently than proof of stake systems. This way, the money is returned to all holders indirectly (as opposed to direct rewards with proof of stake, which many forego because their coins are sitting on an exchange). So you just send some money to the “rTrust”, wait for about a day, and you get more ReturnBit out of this.

The problem with proof of stake’s ‘dividend’ is not so much that the rich get richer, but that many people hold their coins in an exchange and not in their own wallet, thus becoming ineligible for these ‘dividends’.

It is an interesting experiment. We’ll see how the investor returns now and in the future will be for the investors. Should be an interesting experiment to run though. Quite different from the many other ICOs that are ongoing at the moment.

Here are some details for investors:

Bitcointalk forum thread: https://bitcointalk.org/index.php?topic=1596327.0

ICO Website: http://www.returnbit.com/

 

Share and Enjoy

  • Facebook
  • Twitter
  • Delicious
  • LinkedIn
  • StumbleUpon
  • Add to favorites
  • Email
  • RSS

ICONOMI: How ICOs Should be Done

Iconomi

Hear it here first forks: For the second half of 2016, here’s how ICOs are done: Model ICONOMI. Let’s introduce ICONOMI here first, and hopefully, the first of many more to come.

Firstly, there is no dearth of ICOs at the moment. This seems like the hottest time of the year, right after the big ICOs of Lisk and Waves, each valued at over $15 million at the moment. The historic pattern is when there is  wave of successful ICOs, there are many that want to raise money while the market is hot. We are in exactly that phase right now.

But ICONOMI is different. Firstly, there is a legitimate idea, which seems like a rarity today in the turbulent crypto seas, ahoy! The project is aimed fair and square at investors. Whatever product or service helps you make more money is something to keep an eye out on. Those are big winners in the economy. ICONOMI definitely checks off that box. Basically, the idea is to bring financial services and products on to the blockchain. It is built on Ethereum.

So there’s the idea (yes, it is built on Ethereum which isn’t as hot as it was earlier. Thanks Stephen Tual and the DAO team) that is interesting not just as a stand-alone but as a way to make/earn money. The next step is, who cares? Well, if you run a great ICO campaign, you already have your earliest adopters. That’s a smart move that lots of ICO teams get wrong. If you are good with rewards and running good campaigns, you can generate a ton of more value than just the coins that you give out as bounties. So ICONOMI checks that box off very well too – great bounty programs, and good social campaigns like Twitter and Bitcointalk signatures.

And the market is reacting appropriately. Even though there are like a dozen ICOs ongoing at the moment, investors are taking note. There are the three-day stats: over $300,000 raised in just 3 days. And the ICO is ongoing for another month. Good luck to the team and the investors. Exciting project to check out for sure.

ICONOMI 3 day stats

Here’s the ICO website.

And here’s the ANN thread in Bitcointalk.

Bounty claim code: ICO3T68g7bnfDVOnqbjlk7ZqdXYnP7fPYNHICONOMI

Share and Enjoy

  • Facebook
  • Twitter
  • Delicious
  • LinkedIn
  • StumbleUpon
  • Add to favorites
  • Email
  • RSS

Decentralized Exchange with Tokenized Fiat and Great Scalability = HEAT

Heat Crypto

What does it take for a cryptocurrency to get noticed in 2016? There have been thousands of cryptocurrencies since Bitcoin, so what can you bring new to the table? Well, how about some good ‘ol fashioned tokenized fiat, mixed with a decentralized exchange on the blockchain, garnished with a scalability solution that will allow significant scalability. Well, that’s HEAT in a nutshell.

The ICO is currently ongoing. You can buy some HEAT tokens here before launch. I cannot comment on how successful the project will be, but the Finnish project looks quite promising, and definitely seems to have a better thought-out product than most of the pumps-and-dumps infecting this space.

Oh, and did I mention the 32 page whitepaper is also out (surprisingly, they released the whitepaper while the ICO was ongoing instead of before. That may have made some people gloss over this one). You can read it here.

The Bitcointalk thread is not too exciting in terms of numbers. Much less discussion than Lisk and Waves, but the discussion quality is much higher. No whiny “when is the price going to rise? this is a scam” type of post from ignorant newbies. They didn’t do a signature spamming campaign, which gets an A+ from this Crypto Captain for not spamming Bitcointalk.

All in all, promising ICO for sure. Raised a fair amount of money, but nowhere close to Waves for example. It remains to be seen how successful this will be in the marketplace.

Share and Enjoy

  • Facebook
  • Twitter
  • Delicious
  • LinkedIn
  • StumbleUpon
  • Add to favorites
  • Email
  • RSS

MorCoin Launches as Pure PoS with Interesting Distribution Model

MorCoin

MorCoin just launched today as a pure proof of stake coin (PoS) – see the official MorCoin ANN thread. The distribution model is interesting – everyone can get a free share, but people can purchase additional shares of 5, 15 or 40, by sending Bitcoin to the dev team, which will then use the money to further improve the coin. It’s an interesting distribution model, being a hybrid of free giveaways and IPO type of distribution to raise funds for future development. Since there are always free stakes available, if you don’t want to take your chances, you can just apply for one of these, and no harm done.

On the technical side, MorCoin has a total cap of just 5 million total, which should give each unit of MorCoin a high value. The PoS interest is 15% annual and stakes mature after a coin-age of 4 hours. The number of coins is interesting, as MorCoin is bucking away from the trend of having billions of coins, and instead focusing on the value of each coin by liming the numbers. This might prove to be a good move, since many coins that trade in the range of single-digit Satoshi usually end up dying.

The launch is on June 29, 2014. The IPO closes on June 28, 2014, so if you want to buy your stakes through the IPO as opposed to free distribution (to get more MorCoin), do it now.

With the coin launches cooling off in June compared to May, there aren’t that many new ideas around, and launches try to differentiate themselves from the crowd through other methods such as strong dev team, community, merchant acceptance, etc. MorCoin is one of the few coin launches this month, and it would be interesting to follow its progress.

Share and Enjoy

  • Facebook
  • Twitter
  • Delicious
  • LinkedIn
  • StumbleUpon
  • Add to favorites
  • Email
  • RSS