Alt-Coin Tezos

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Long John
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Re: Alt-Coin Tezos

Postby Long John » Sun Jan 28, 2018

SilverDoge wrote:This poker pro is a crypto convert and has a month old YouTube channel with a large following already. He has a funny edge to him, and some adult language. I basically agree with most of his comments here on Tezos.

He tells it pretty straight, and it's hard to tell who he's more pissed at: Gevers for holding the money hostage, or the Breitmans for giving him the Bitcoin and Ether in the first place. Why did they do that? he asked several times.

The only thing I can think of is they wanted the money out of the reach of U.S. authorities. But they didn't have to give it to a guy in Switzerland to accomplish that. Maybe, as the guy in the video said, they thought a "foundation" would give the project an air of legitimacy. Since the money is in the hands of a Swiss dude who knows the strength of his negotiating position and could give a !@#$% about U.S. lawsuits, which are leveled at a U.S. company, that sort of backfired. Like the video notes with harsh irony, all the money for this decentralized project is centralized in the pocket of a Swiss guy who is not inclined to allow access to it without a huge "bonus" paid to himself.

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Re: Alt-Coin Tezos

Postby Marchas45 » Sun Jan 28, 2018

Pretty good discussion on Tezos

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Re: Alt-Coin Tezos

Postby SilverDoge » Mon Jan 29, 2018

Long John wrote:Since the money is in the hands of a Swiss dude who knows the strength of his negotiating position and could give a !@#$% about U.S. lawsuits, which are leveled at a U.S. company, that sort of backfired. Like the video notes with harsh irony, all the money for this decentralized project is centralized in the pocket of a Swiss guy who is not inclined to allow access to it without a huge "bonus" paid to himself.


News release from that "Swiss dude" Johann Gevers, with this key line in it: "I have consistently communicated my intention to step back from the Foundation as soon as things are on track with a new board that is independent and has the support of the Tezos community."

Let's just say that I will believe it when I see it. Still a lot of passive/aggressive talk in his post, and another swipe at Arthur in his final paragraph.

https://medium.com/@johanngevers/moving-tezos-forward-85d1de2f9bd4
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Re: Alt-Coin Tezos

Postby SilverDoge » Tue Jan 30, 2018

SilverDoge wrote:
Long John wrote:Since the money is in the hands of a Swiss dude who knows the strength of his negotiating position and could give a !@#$% about U.S. lawsuits, which are leveled at a U.S. company, that sort of backfired. Like the video notes with harsh irony, all the money for this decentralized project is centralized in the pocket of a Swiss guy who is not inclined to allow access to it without a huge "bonus" paid to himself.


News release from that "Swiss dude" Johann Gevers, with this key line in it: "I have consistently communicated my intention to step back from the Foundation as soon as things are on track with a new board that is independent and has the support of the Tezos community."

Let's just say that I will believe it when I see it. Still a lot of passive/aggressive talk in his post, and another swipe at Arthur in his final paragraph.

https://medium.com/@johanngevers/moving-tezos-forward-85d1de2f9bd4


Less than 24 hours later and Gevers deleted his blog post:

Gevers, who confirmed to finews.com that he authored and published the post, took it down several hours after posting it, saying he had been advised to do so «for prudential reasons.» He is accused by the Breitmans of self-dealing and helping himself to proceeds from the fundraising. A bitter, public fight unfolded, with Gevers slammed by detractors for besmirching Switzerland's «crypto valley» efforts into a «klepto valley».


https://www.finews.com/news/english-news/30460-tezos-swiss-foundation-johann-gevers-arthur-kathleen-breitman-guido-schmitz-krummenacher

I noticed the priced cratered into the $2.xx region and I immediately knew something like this had to have happened. What a con man.
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Long John
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Re: Alt-Coin Tezos

Postby Long John » Tue Jan 30, 2018

SilverDoge wrote:What a con man.

Indeed. A conman holding hundreds of millions worth of Bitcoin and Ethereum. At least I hope he's still holding it. But I wish the Breitmans wouldn't refer to our investments as "donations."

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Re: Alt-Coin Tezos

Postby SilverDoge » Fri Feb 02, 2018

Tezos was the feature story on CoinDesk today.

https://www.coindesk.com/tezos-new-board-mean-money/

A new Swiss Foundation, called T2, will launch with the intent of charting an alternate path to market. (The T2 effort actually consists of two organizations, a foundation and an association).

T2 has something of a nuclear option available to it, the T2 Foundation published an FAQ as a public Google document, and in that document, it proposes a radical option – that DLS would release the codebase with the same genesis block as planned.

In this scenario, everyone would get the Tezos tokens they paid for, but the reserve tokens (10 percent of the total pool, vesting over four years) would be turned over to the control of T2 rather than the Tezos Foundation.


If the Swiss authorities do not help fix this situation (which they have the power to do), Crypto Valley will become known as Klepto Valley. QRL was in the midst of going to Zug, Switzerland to form a foundation but decided against it and delayed the decision because of this Tezos situation. There are likely hundreds of other crypto projects contemplating similar things. The Swiss are getting a big black eye through this whole thing letting 1 corrupt individual strong arm his way to controlling a billion dollars.
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Re: Alt-Coin Tezos

Postby SilverDoge » Sat Feb 03, 2018

So this seems to be the large point of contention. A billion dollars hangs in the wind because one guy wants his bonus to be paid at the current rate price instead of the agreed upon price up front. I think the community would be willing to spend $3 million just so this guy will go away.

https://www.letemps.ch/economie/2018/02/02/guerre-autour-tezos-senvenime

As president of the Tezos Foundation, he is asking for a basic annual salary of 200,000 francs, with a signing bonus of 750,000 "Tezies", the tokens issued at the ICO. The contract specifies that this token is worth 0.4 franc. But in another conversation with a potential counterparty wishing to be paid in chips, Johann Gevers estimated that a tezo was worth two francs. This would correspond to a bonus of 1.5 to 3 million francs, and not 300 000 francs as proposed in his contract of employment. Spent from $ 1.76 in early October to $ 10.56 on December 18, a Tezos is worth around $ 3 to write these lines, according to the site coinmarketcap.com. The contract was not accepted by the other members of the board of the foundation.
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Re: Alt-Coin Tezos

Postby SilverDoge » Mon Feb 05, 2018

I just read a quick 16 question Q & A and found a few good nuggets of info. MainNet launch might happen in March, but no promises. Block time is expected to be 1 minute. Maybe up to 40 TPS (transactions per second). 1/2 Mb block size, not dynamic. I think anyone can stake, but you will need 10,000 tezzies to set up a "baker node" and your funds will be bonded (locked up) for 90 days if you want to "super stake" once live. More to follow on this one.

The Q & A is here: https://amp.reddit.com/r/tezos/comments/7uhafy/lets_talk_tezos_launch_tentative_performance_and/?__twitter_impression=true

A bit more data on the delegation, staking & baking here: https://www.tezzigator.com/delegation.html

Interestingly, this was the final question: Any talk yet in the dev community about Quantum Computing threat mitigations? I realize this is mostly an issue with PoW blockchains, but what about if down the road privacy features are implemented with advanced encryption, anything currently being considered for that (i.e. quesiton 15) and is that all QC safe?

Response: Quantum computing makes hashing easier, but difficulty could / would adjust in a PoW chain. The issue is with elliptic curve based digital signatures which become completely broken. I don't think Quantum Computing is an immediate threat, but giving the option of using a quantum resistant signature algorithm would be neat. STARKs are quantum resistants by the way.

Yet another project which hopes to "one day" be quantum resistant but will not be QC-safe from genesis block. Oh well, we can't all be QRL now can we ;)
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Re: Alt-Coin Tezos

Postby SilverDoge » Thu Feb 22, 2018

Great news for Tezos today. Gevers is gone!

https://www.reuters.com/article/us-bitcoin-tezos/president-of-tezos-swiss-foundation-steps-down-idUSKCN1G623J

https://tezosfoundation.ch/news/tezos-board-reorganized/

This is very bullish. Now there will be no further excuses for future delays, so the team must now put up or shut up. Time to get this party started. :clap:
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Re: Alt-Coin Tezos

Postby Long John » Thu Feb 22, 2018

SilverDoge wrote:Great news for Tezos today. Gevers is gone!

This is very bullish. Now there will be no further excuses for future delays, so the team must now put up or shut up. Time to get this party started. :clap:

I'm sure they had to buy him off. Hopefully the new leaders of the foundation are more interested in funding the project and less interested in bonuses for themselves.

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Re: Alt-Coin Tezos

Postby Marchas45 » Thu Feb 22, 2018

Great news, also the launch coming in a few weeks, sometime in March. :clap: :clap: :clap: :clap: :clap:
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Re: Alt-Coin Tezos

Postby dbm300 » Fri Feb 23, 2018

SO maybe I didn't lose my bit coin?
... and Bob's your uncle.

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Re: Alt-Coin Tezos

Postby SilverDoge » Fri Feb 23, 2018

dbm300 wrote:SO maybe I didn't lose my bit coin?


This was your first crypto transaction, right? You didn't lose it, you were simply a forced HODL'er for a long time. I'm thinking a MainNet launch before the end of March. The next 6 weeks in crypto is going to be exciting. Lot of stuff going on.
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Re: Alt-Coin Tezos

Postby Marchas45 » Fri Feb 23, 2018

What do you mean in the next six weeks. It's already exciting. :lol: :lol: @dbm300 if Tezos was your first transaction I believe you made a great choice. :clap: :clap: But all credit goes to Doge for getting me involved.
By the way I bought some Dogecoin for old times sake. :lol:
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Re: Alt-Coin Tezos

Postby Long John » Fri Feb 23, 2018

Enforced HODLing, indeed. However much you invested, that BTC is worth roughly 4X now in USD. It was almost 8X at one point.


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