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Launch HN: Stacks (YC S14) – The first SEC-qualified crypto token offering

news.ycombinator.com

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Re: Launch HN: Stacks (YC S14) – The first SEC-qualified crypto token offering

#52

Post by JeremyBanks »

simonebrunozzi wrote: post #48
muneeb wrote: post #44

Earlier quoted context omitted.

Thanks for pointing this out. From direct text from our FAQ: "Why were Stacks Tokens valued/sold at $0.00012 prior to the 2017 accredited sale at $0.12? Founders and early employees of Blockstack PBC received tokens at $0.00012 per token in October 2017 based on an independent valuation from Foresight Valuation Group, LLC when the Stacks Token was still in its earliest stage of development and before the publication…

> Finally, we are disclosing all this information so investors can make informed decisions. This is great, and I plaud that. I also think you guys are genuinely trying to be honest here. Unfortunately, a sane level of skepticism (and sarcasm) has to be expected, in general, especially here on Hacker News.

Applaud

Re: Launch HN: Stacks (YC S14) – The first SEC-qualified crypto token offering

#53

Post by jakswa »

JeremyBanks wrote: post #52
simonebrunozzi wrote: post #48

Earlier quoted context omitted.

> Finally, we are disclosing all this information so investors can make informed decisions. This is great, and I plaud that. I also think you guys are genuinely trying to be honest here. Unfortunately, a sane level of skepticism (and sarcasm) has to be expected, in general, especially here on Hacker News.

Applaud

  plaud
  To applaud.
  n. Claim to applause; plaudit; applause.
  transitive verb To applaud.

Re: Launch HN: Stacks (YC S14) – The first SEC-qualified crypto token offering

#56

Post by Dominic02 »

an active community of developers organically building decentralized apps and playing around with tools, you can see a lot of experiments but can still end up with a graveyard of apps that no one uses.Tv" rel="nofollow">https://www.techsupportdubai.com/led-tv-repair/">Tv Repair That's the user traction phase which I do not think we're in yet for Web 3 / decentralized apps. I remain confident that as the UX of these apps gets better and as security

Re: Launch HN: Stacks (YC S14) – The first SEC-qualified crypto token offering

#57

Post by steveharman »

muneeb wrote: post #26
steveharman wrote: post #21

Earlier quoted context omitted.

Will you be opening your documentation and legals (where possible), so that others might follow a similar regulatory path with the SEC? Thanks

Yep, the filing is already public and available through the SEC Edgar website. See also https://stackstoken.com/circular Our hope is that the work we've done (and the $1.8M legal and accounting fees that we've paid!) helps other projects as well. That would take some sting out of the legal/accounting costs of doing this :-)

Fantastic, thanks for your efforts and also for taking the time to reply.

Re: Launch HN: Stacks (YC S14) – The first SEC-qualified crypto token offering

#58

Post by lowestlatency »

muneeb wrote: post #46
ticmasta wrote: post #43

Earlier quoted context omitted.

It gets better; there's something like 130M tokens sold to founders & other insiders that have no transfer or time lock associated with them. Guess which ones will be the first traded at full pop?

If by this you mean tokens that were locked for 1 year under Reg D and then unlock monthly since the launch of the Stacks blockchain in Nov 2018, then yes there is a subset of tokens that are unlocked following the unlocking procedures that other holders also follow. Union Square Ventures, myself, and my co-founder are one of the largest holders of such tokens. We have restrictions from the SEC on selling these on th…

Happens all the time with IPOs so it's totes fine, right?

Your greed is showing, Muneeb.

Plenty of posters in this thread talk about "following you" since the beginning and having lovely things to say about your product. Truth is: There is nothing your product does that other decentralized services didn't already do, for free. Your ID service is a less-secure Sovrin and your storage is a gated IPFS.

You just saw what Ethereum did and wanted a piece of the pie for yourself.

Re: Launch HN: Stacks (YC S14) – The first SEC-qualified crypto token offering

#59

Post by steveharman »

Can you explain the business model behind the payouts you make as part of app mining, please? (https://app.co/mining)

In simple terms; I'm trying to get my head around what Blockstack gets in return for paying developers to use Blockstack Auth ?

Also, you may want to investigate the rounding of Dmail's figures shown on that URL ^^

At the time of writing the page shows a lifetime payout to Dmail of $19,999 yet last month it shows they earned $20,000. Surely "lifetime" earnings must always be >= last month's figure, as last month is part of "lifetime" ?

Thanks

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