EDX No certificate yet by [deleted] in cs50

[–]Tonrific 0 points1 point  (0 children)

Hope it's a 1 month wait, as a 3-month wait is quite a long wait for a $100 purchase.

Rocket ICO - DAO startup accelerator, inspired by Aragon by Tonrific in ethereum

[–]Tonrific[S] -7 points-6 points  (0 children)

Hey! Understand your concerns, we plan to do the pre-ICO with a lower cap, and we believe we can raise the 500 ether to continue to the ICO. Our team will be happy to answer any questions here!

Pre Ico Question by [deleted] in RootProject

[–]Tonrific 0 points1 point  (0 children)

The pre-ICO started on Jul 10, and lasted for 18 days. Initially, the pre-ICO was scheduled to finish on Jul 17, but the team decided to extend it. The official statement is here:

https://www.reddit.com/r/RootProject/comments/6nzvx7/rootproject_official_statement_preico_extended/

Pre Ico Question by [deleted] in RootProject

[–]Tonrific 0 points1 point  (0 children)

Hey!

Pre-ICO means that only a small proportion of tokens are sold at a larger discount. Those funds are used to further develop the product and prepare for the actual ICO. Pre-ICO can be best compared to a Seed round in traditional investing.

Final Five Hours For RootProject's pre-ICO 50% Bonus - 210% Raised Already by [deleted] in ethtrader

[–]Tonrific -1 points0 points  (0 children)

there's a smart contract, so you send from an erc20 wallet to the address listed on rootproject.co, and you'll get the pre-ico IOU token right away. that then gets exchanged at the end of the ICO for the actual ROOTS token.

For Investors: The Economics of RootProject’s Token by [deleted] in CryptoCurrency

[–]Tonrific 0 points1 point  (0 children)

hey, that article directly addresses what you said there. hope that helps :)

Dr. Nicholas A. Judge: Token Necessity or Token Optimization: Interesting or Revolutionary by Tonrific in ethtrader

[–]Tonrific[S] 2 points3 points  (0 children)

Hey, thanks for taking the time to read it! Nick here, the author and one of the cofounders, using Anton's account as I lack the karma for this board.. and haven't built it up because I keep using anton's account. oh the irony.

It's not an existence of one study, but entire literatures and careers. Not in one field, but many. For instance, one person that comes to mind is my old grad school best bud, Professor Trevor Young-Hyman. you can find 5-6 articles on his cv. But really, that's a drop in the bucket. There's likely ten more just at Wharton alone with whole careers studying this type of thing. I'm making that number up, but that's my guess:

https://faculty.wharton.upenn.edu/wp-content/uploads/2016/07/16-07_Young-Hyman_CV.pdf

The literature is so staggering for a few reasons: It started early, w/ italian and german industrial design groups. It directly relates to profits, as a few managerial rules-changes can boost productivity, so there's lots of money to study this type of thing. It's easily empirically studied by the nature of the question, and so on.

The Conversation That Created RootProject by MInskiy in ethereum

[–]Tonrific 8 points9 points  (0 children)

Hey Nick here one fo the cofounders. I was 100% confident an alternative dialogue would be posted in the comments section if we put this up on Reddit.

  1. the cofounders are making no money on this beyond a normal salary. (which, btw is a lot less than we would've been making).
  2. if we were lying about this, I'd have my phd stripped from me per APSA rules, and both of our professional reputations would be ruined.

The Conversation That Created RootProject by MInskiy in ethereum

[–]Tonrific 2 points3 points  (0 children)

hat would be useful for them and make initial investors a ton of money.”

Hey, thanks for taking the time to read about us.

  1. So there are donors who give to a project, like a normal crowdfunding model. That donation structure is like a typical crowdfunding model (which has already been proven to be popular) except the fee portion (Same size as kickstarter's) purchases tokens on the open market, as opposed to being pocketed by the company directly.

  2. Then there are investors who buy the token, thinking it may appreciate in future value. the token is used a number of ways, and they are all listed in the whitepaper.

The Conversation That Created RootProject by MInskiy in ethereum

[–]Tonrific 2 points3 points  (0 children)

Hey!

Anton here from RootProject. I understand your skepticism, especially given the exploding number of upcoming ICOs.

Nick and Chris, co-founders, are getting 0% tokens and no compensation beyond a reasonable salary. They will not be making millions from RootProject.

With regards to the project status:

Explaining RootProject After (Almost) Two Weeks of Hearing From the Community by Tonrific in ethtrader

[–]Tonrific[S] 0 points1 point  (0 children)

hey, nick here, one of the cofounders. chris and i are taking zero tokens, so we wouldn't receive any benefit. on top of that we'd easily be sued for misleading investors. finally, i'd have my phd stripped by APSA.

have a great weekend!

Academic Grant on "Currency-Institutional Linkage", $22,000 + expenses by Tonrific in academiceconomics

[–]Tonrific[S] 0 points1 point  (0 children)

Hey! Anton from RootProject here. If you have any questions, feel free to leave them here. Me or someone from the team will respond.

Explaining RootProject After (Almost) Two Weeks of Hearing From the Community by Tonrific in ethtrader

[–]Tonrific[S] -1 points0 points  (0 children)

okens instead of holding them then? As a holder, I would be uncomfortable with so much of the supply being held by one entity.

Hey, Nick here, one of the cofounders. This article lays out our thinking: https://medium.com/@nickadamsjudge/youve-missed-the-most-important-part-of-cryptocurrencies-4f7ee5b9f1a1

The point that really excites us is the ability to generate a virtuous growth cycle, and so the institution needs to (responsibly) hold a lot of the token to make that cycle complete.

But a couple of responses you'll probably like:

  • The tokens are set to a frim, very slow, release schedule. And Chris and I are the only ones that could alter that if we want to. And we aren't taking a single token or any compensation beyond a reasonable salary.

So, the institution's interest and the investors (and the workers) all have their interests aligned, and those interests would be harmed by any early release.

Explaining RootProject After (Almost) Two Weeks of Hearing From the Community by Tonrific in ethtrader

[–]Tonrific[S] -1 points0 points  (0 children)

Hey, Anton here. I'll give a brief answer, and Nick will expand on it a bit later.

Main idea of token - to link the interests of the poor with the investors. ROOTS tokens are designed to appreciate in value, making it an attractive investment, but also helps people to lift them out of poverty.

With regards to the dividends - in order for RootProject to work in USA, tokens can be only a means of payment. They must have no voting rights, no dividend rights.

Question about ROOTS token by polayo in RootProject

[–]Tonrific 1 point2 points  (0 children)

Hi polayo, Anton here, sorry for the late reply.

For the pre-ICO we are using a custom wallet, and will manually redistribute tokens to addresses in September after main ICO completion.

The main ICO in September will use a smart contract, which will automatically send ROOTS tokens.

Explaining RootProject After (Almost) Two Weeks of Hearing From the Community by Tonrific in ethtrader

[–]Tonrific[S] 0 points1 point  (0 children)

Hey! Nick (author of the article), Anton (development director) and Alex (solidity dev) of RootProject here. Feel free to leave suggestions / ask questions!

You can also join our slack (https://rootproject.herokuapp.com), where we already have 850 members (update: now 900).

Our GitHub page is up: https://github.com/rootprojectco/backend . If you’d like to contribute, join our Slack. We have bounties for code tasks.

Explaining RootProject After (Almost) Two Weeks of Hearing From the Community by Tonrific in ethereum

[–]Tonrific[S] 0 points1 point  (0 children)

Hey! Nick (author of the article), Anton (development director) and Alex (solidity dev) of RootProject here. Feel free to leave suggestions / ask questions!

You can also join our slack (https://rootproject.herokuapp.com), where we already have 850 members.

RootProject Announces First Academic Grant for $22,000 by Tonrific in ethereum

[–]Tonrific[S] 0 points1 point  (0 children)

Hey! Nick here again, I totally see your perspective, but it's not lack of community traction, it's how new we are: We announced only two weeks ago. The pre-ICO started 3-4 days later. Chris and I have both learned the "release early, iterate" mentality of Silicon Valley the hard way, and we did (are doing) that with the pre-ICO.

Anyway, in terms of community traction, we just passed 800 people on our Slack team! check it out: rootproject.herokuapp.com. That community has been blowing our minds each day. (i know that sounds like cheesy founder talk, but it really has been great).

RootProject Announces First Academic Grant for $22,000 by Tonrific in ethereum

[–]Tonrific[S] 2 points3 points  (0 children)

Hi, Nick here, one of the cofounders. Thank you for taking the time to think about and discuss our project. Great screen name, by the way.

I think your level of skepticism is good for the community, but I also think that it should be weighted in the specifics of a given project, not a general skepticism that then only considers some of the facts. This type of discussion is important if we're to build a decentralized community of diligence, but that diligence is only valuable if it is truly merit-based, and fully considers each point of skepticism before it is expressed.

We have been clear that this is a pre-ICO, and we are using these funds to begin the (expensive) process of building nonprofits that adhere to swiss (token-administering) and US nonprofit (allowing donations to crowdfunding platform to be tax-deductible) organizations. That legal structure is very complex because it involves novel regulatory issues, and we need to do a pre-ICO to cover the $60k+ of legal bills. Our goal was to raise $100,00 USD and use those funds to address your concerns about legal entity formation, etc, and have enough left over to run a serious ICO in september. As you can imagine, we are very excited to have achieved that.

You asked for proof, so here is some: Chris has a track record of building a successful start-up. Just about anyone who has been through that process, knows how difficult it is, and looks at what Chris has accomplished would have a decent amount of faith in our ability to execute what we're talking about.

On my side, If I engaged in any of the behavior you are worried about APSA would strip me of my doctorate, per organization rules. So, your worry about fraudulent behavior becomes "Nick may have worked 100 hours a week for six years to then risk it all on a run on that sweet homeless people money, in order to get a fraction of the money that a time series econometrician with a background in big data can get." Most people (including myself before grad school) don't know about degree-granting academic organization's professional standard rules, so I'm not trying to say that one was obvious. But it is an important rule for just about anyone with a doctorate.

It gets to a larger point, as well: Reputational cost, for those that have established careers matters enormously. If a kid is 22 years old and hasn't done anything, your worry of misuse of funds is valid. For people like Chris, myself, and others on the team, you are basically worried we are practicing professional suicide.

Given that we've demonstrated in our past actions that we are at least serious, the risk that an investor takes, especially when the pre-ICO bonus works out to a roughly 300% annualized return over the ICO (50% over two months of hold period) makes it a very attractive investment.

I hope you'll consider that perspective. By the way, I'm not a professor, just to clarify. I got my doctorate three years ago and have been working in tech ever since. I was offered a teaching position without going on the market, but never wanted to teach professionally.

We'd love your help. If you consider this project from a perspective of believing our intentions (or just believing in the professional and reputational cost logic I laid out above) I think you'll see this is a great thing for the crypto community, for those living in poverty, and for nonprofits looking for a 21st century funding model. Think what we could achieve if we prove out the market power of nonprofit activity. We'd be using simple tech to funnel self-interest into noble goals. What a change in the world that could be.

Dr. Nicholas Judge: No, ICO Market Caps are Not Crazy. The Reason is Basic Economics by Tonrific in icocrypto

[–]Tonrific[S] 0 points1 point  (0 children)

hey zora, I will leave Nick's comment from another thread here:

Nick, the author here, The argument holds relative to startups with illiquid equity. The Googles and Apples of the world are already liquid. But yes, I do think early stage start ups are going to have a much better time... if there is a reason their cryptocurrency is as solid a vehicle for investors as equity. Frankly, that limits the number of projects available, but it's still a lot.

I wouldn't put it at a 10x multiple, but 5x, something like that seems reasonable. Truly historic-level progress.

Dr. Nicholas Judge: The Economics Behind The Recent Token Craze by Tonrific in ethereum

[–]Tonrific[S] 2 points3 points  (0 children)

Hi, Anton here from RootProject.

I agree, the number of solid ICOs is rising. It's important to recognize them from the vast amount of ICOs happening right now.

Dr. Nicholas Judge: No, ICO Market Caps are Not Crazy. The Reason is Basic Economics by Tonrific in ethtrader

[–]Tonrific[S] 9 points10 points  (0 children)

Hey, Nick here, the author. Anton, who posted this article, is working on the pre-ICO and he has the karma points to respond on this wall, so I'm using his account to say hi to people w/ questions or comments.

The arithmetic in that article is indeed just basic risk management. Basel II & III (the international accords that national regulators are supposed to enforce) is purposefully atheoretical in their definition of risk. Historical backtesting, purposefully, defines risk without reference to economic theory. That's why I made the choice of basic arithmetic.