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Tezos founders push for legal bailout from Swiss foundation

reuters.com

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Re: Tezos founders push for legal bailout from Swiss foundation

#71

Post by Matt_Mickiewicz »

pdog wrote: post #65
jasonmcalacanis wrote: post #57

Earlier quoted context omitted.

my podcast is a complete front for me figuring out if i should invest in startups. :-) just had coinlist on the show as well.... they did filecoin's $200m+ ICO http://thisweekinstartups.com/andy-bromberg-coinlist/

They say if you want to master something, teach it. Looking forward to more crypto-focused podcasts. It's always preferable to hear from more technical guests who aren't just trying to sell something.

Unchained is probably the best crypto podcast currently, but would love other recommendations.

Re: Tezos founders push for legal bailout from Swiss foundation

#72

Post by splintercell »

flunhat wrote: post #25
berberous wrote: post #13

Earlier quoted context omitted.

In addition to on-chain governance you mention (i.e. the built-in voting features to decide protocol changes and avoid the civil war that's going on in Bitcoin world), they use a functional programming language that is supposed to be much safer and easier to code than the Ethereum language.

Why not just write a compiler for that functional language (I think OCaml) that outputs EVM bytecode? Seems very doable from afar...

There are architectural issues associated with EVM which prevents it from being properly used for building something like that (like a functional programming language which converts to EVM).

https://www.reddit.com/r/ethereum/comments/7bdm1g/so_can_we_...

Re: Tezos founders push for legal bailout from Swiss foundation

#74

Post by wmf »

fiatjaf wrote: post #7

Can someone explain briefly the Tezos unique features and why would someone want it? In my understanding it is just a Bitcoin copy that has a voting feature to decide protocol changes.

just a Bitcoin copy that has a voting feature to decide protocol changes

This feature alone is probably worth a billion dollars given the value unlocked by various cryptocurrency forks.

Re: Tezos founders push for legal bailout from Swiss foundation

#75

Post by wmf »

literallycancer wrote: post #69
noddy1 wrote: post #36

Earlier quoted context omitted.

When the underlying value of the ETH/BTC has appreciated significantly, and the likely value of the Tezos token has plummeted, trying to extract core investment is reasonable. Personally I would do it quietly, with good legal backing, and as a single entity or with a small group of investors rather than a large class action - and reach an early settlement to get our own investment back without causing too much of a s…

The value of the Tezos token can't be lower than the value of the raised funds now, can it? That would be like saying a company with 100k in cash is only worth 50k. Since the foundation kept most of the raised BTC and ETH, the funds appreciated at the same rate as if they were kept by the investors. The investors have tokens that represent shares of the funds raised. Those derive their value from 1. the money raised…

I suppose if the funds are earmarked for development only and can't be liquidated or used for buybacks then they're essentially already gone. If you assume that development has decreasing marginal utility (so spending $1B won't make Tezos much better than spending $200M) then I can imagine that investors would rather have their money back than have Tezos. Kind like how I'd rather have 1 BTC than my Trezor.

Re: Tezos founders push for legal bailout from Swiss foundation

#76

Post by QML »

Matt_Mickiewicz wrote: post #71
pdog wrote: post #65

Earlier quoted context omitted.

They say if you want to master something, teach it. Looking forward to more crypto-focused podcasts. It's always preferable to hear from more technical guests who aren't just trying to sell something.

Unchained is probably the best crypto podcast currently, but would love other recommendations.

There's Epicenter on iTunes.

Re: Tezos founders push for legal bailout from Swiss foundation

#77

Post by datahack »

jasonmcalacanis wrote: post #57
paulsutter wrote: post #56

Earlier quoted context omitted.

Video is a great background on Tezos, why they chose a Swiss foundation in Zug, how the money is budgeted, how they chose the trustees for the foundation, the token presale, etc

my podcast is a complete front for me figuring out if i should invest in startups. :-) just had coinlist on the show as well.... they did filecoin's $200m+ ICO http://thisweekinstartups.com/andy-bromberg-coinlist/

So honest it sometimes hurts, lol. Great show btw.

Re: Tezos founders push for legal bailout from Swiss foundation

#78

Post by microtherion »

nivertech wrote: post #67
paulsutter wrote: post #60

Earlier quoted context omitted.

Ethereum was the first cryptocurrency to form a foundation in Zug, and its a popular structure. Generally the code and system are open sourced, and a nonprofit foundation controls the money raised in the ICO. https://www.swissinfo.ch/eng/500-million-business_crypto-pig...

All those Zug-incorporated ICOs exploiting loopholes in civil law: 1. Tokenizing non-profit foundations (stiftungs), while traditional "stiftung foundation has no shares or members" [1] 2. Pretending that token allocations are unrelated to donations/contributions. 3. Using nonprofit foundations for clearly for-profit speculative activity. [1] https://en.wikipedia.org/wiki/Stiftung

As a Swiss, I'm saddened that my country seems to have found yet another way to get involved in shady financial dealings.

Re: Tezos founders push for legal bailout from Swiss foundation

#79

Post by xorcist »

MichaelAO wrote: post #73

The Bitcoin Uncensored interview with Arthur Breitman is interesting to watch: https://www.youtube.com/watch?v=gsY5wXj4Xm8

It was a very interesting interview, mostly for the parts that weren't about Tezos. Breitman explains the use case for Turing complete smart contracts: Spending limits.

Everything else can be implemented by m-of-n multisig and off-chain oracles. This is something anyone about to invest in smart contract technology should think long and hard about.

Re: Tezos founders push for legal bailout from Swiss foundation

#80

Post by xorcist »

berberous wrote: post #13
fiatjaf wrote: post #7

Can someone explain briefly the Tezos unique features and why would someone want it? In my understanding it is just a Bitcoin copy that has a voting feature to decide protocol changes.

In addition to on-chain governance you mention (i.e. the built-in voting features to decide protocol changes and avoid the civil war that's going on in Bitcoin world), they use a functional programming language that is supposed to be much safer and easier to code than the Ethereum language.

The idea of non developers voting on protocol changes fascinates me. I wonder if the early adopters of the car would vote for it to have four legs and combust hay?

Taking the risk to appeal to some developer elitism here, it is still important to realize the different needs of those who will build future products on the technology as opposed to those about to turn a quick buck on a use case that already exists.

I guess we will never know for sure as there is nothing that can differentiate democratic voting from Sybil attacks without identity.

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