I've been following your company on hn for awhile. I'm still iffy on whether crypto will really change the world but if it does I'd rather see your offering beat out libre. FB et al shouldn't be creating a coin but join with companies like yours who have a solid footing and create new stuff within existing ecosystems.
Launch HN: Stacks (YC S14) – The first SEC-qualified crypto token offering
11–20 of 75 posts
Re: Launch HN: Stacks (YC S14) – The first SEC-qualified crypto token offering
#12[deleted]
Re: Launch HN: Stacks (YC S14) – The first SEC-qualified crypto token offering
#13Awesome work! Excited to see all the apps popping up based on Blockstack. Your trailblazing with the SEC is impressive, thank you. I’m unfamiliar with Reg A — after the one year lock, can I transfer Blockstack tokens freely to someone else? Do you see a future where Blockstack tokens are no longer considered a security?
Thank you! It took 10 months so not sure if qualifies as trailblazing. The legal and accounting treatment was new for everyone, so can expect it to take some time. There is no one year lock on the Reg A. The Reg D offering (which we did earlier in 2017) and which is limited to Accredited Investors has a year and a day lock. We do have a monthly unlock over 2-years but that was our design decision, not a regulation. R…
Calling it a utility token doesn't really square with the deflationary monetary policy created by capped supply. This is basically a "number go up" dog whistle. I appreciate the attempt at volatility dampening in the new mining algorithm, though.
Re: Launch HN: Stacks (YC S14) – The first SEC-qualified crypto token offering
#14I've been following your company on hn for awhile. I'm still iffy on whether crypto will really change the world but if it does I'd rather see your offering beat out libre. FB et al shouldn't be creating a coin but join with companies like yours who have a solid footing and create new stuff within existing ecosystems.
I agree with you that the crypto industry in general over-hypes, and everything is a "revolution." The scalable infrastructure and developers tools still require a lot of work and getting "killer apps" is a whole new phase of traction.
With that said, I'm optimistic as all signs seem to point to the fact that security and privacy are going to become more and more critical. Facebook Libra is a great example. Even FB wants to enter this space and rightly so. They have the userbase and are trying to build a decentralized (well federated really) network. Blockstack is open vs. permissioned (Libra). We've done 4+ years of R&D work and are now in the developer traction phase. We want thousands of experiments to happen and organic usage of apps to emerge.
Re: Launch HN: Stacks (YC S14) – The first SEC-qualified crypto token offering
#15I've been following your company on hn for awhile. I'm still iffy on whether crypto will really change the world but if it does I'd rather see your offering beat out libre. FB et al shouldn't be creating a coin but join with companies like yours who have a solid footing and create new stuff within existing ecosystems.
> FB et al shouldn't be creating a coin but join with companies like yours who have a solid footing and create new stuff within existing ecosystems.
Its easy to say that while completely ignoring the lopsided economic incentives of launching your own thing
If there is a single 1 incompatible thing then the team and network wont let you launch on their network, wont give you any of the partner tokens or subsidies
And you did all that when you could have just used your clout to launch your own thing collecting literally 8, 9 or 10 figures of USD and the majority ownership of a precreated asset you granted yourself.
50 years of salary, taxed way lower, for any software engineering founder.
If you’re ignoring this just because “crypto”, while working on someone else’s adtech has-been, you are doing yourself a disservice.
The issuer side of all markets is heavily misunderstood. But especially in crypto markets. People view the whole concept from the speculator’s side.
Re: Launch HN: Stacks (YC S14) – The first SEC-qualified crypto token offering
#16Earlier quoted context omitted.
Yes, tokens will be mined, for the latest plans see https://forum.blockstack.org/t/improved-mining-algorithm-min...
Thanks for the link to the forum post! We conducted an economic audit and as a result of that study made certain changes to future supply of tokens. Details are in the forum post linked above. The token economics 2.0 paper is not published yet but the bulk of the details are in that post. We outline the open challenges in the "adaptive mint/burn" mechanism for future token supply there as well. Basically researching…
[deleted]
Re: Launch HN: Stacks (YC S14) – The first SEC-qualified crypto token offering
#17I've been tracking BlockStack for a time, and love the technology. I particularly like how you have supported Decentralized Identifiers by specifying a DID method for use with BlockStack. I think decentralized data and identity is one of the killer blockchain apps, or at least I hope so.
Re: Launch HN: Stacks (YC S14) – The first SEC-qualified crypto token offering
#18Pretty intrigued by this, especially because of Clarity (Lispy) and the storage system (I can save stuff on S3, not "on the chain". Pretty awesome, I might build a social network on top of this, just what I wanted/needed.
Re: Launch HN: Stacks (YC S14) – The first SEC-qualified crypto token offering
#19Earlier quoted context omitted.
Thank you! It took 10 months so not sure if qualifies as trailblazing. The legal and accounting treatment was new for everyone, so can expect it to take some time. There is no one year lock on the Reg A. The Reg D offering (which we did earlier in 2017) and which is limited to Accredited Investors has a year and a day lock. We do have a monthly unlock over 2-years but that was our design decision, not a regulation. R…
Calling it a utility token doesn't really square with the deflationary monetary policy created by capped supply. This is basically a "number go up" dog whistle. I appreciate the attempt at volatility dampening in the new mining algorithm, though.
There is no cap on the total no. of Stacks. There is a set inflation rate per year (described in the forum post).
Yep, you're right, volatility reduction is certainly one of our goals. Making yearly supply linked to network growth (even if we can only measure a subset of growth metrics) is the basic idea.
Re: Launch HN: Stacks (YC S14) – The first SEC-qualified crypto token offering
#20Good luck Muneeb! It's always nice to see a fellow Pakistani doing great things.
I particularly have to give you props on all the effort and investment required to be the first SEC qualified token offering. The vertical has been dominated by bad headlines and bad players, so this legitimacy is a great step forward, and you guys are trailblazing here. Highly commendable.