Here we go... Lawsuit filed


#22

At this point, the disgruntled noise-makers are causing more fake trouble than their ICO contributions are worth. I say give them their money back and send them on their way. I would rather have 100% Diehard Tezos fans on the platform when it launches. Tezos will still have a LOT of money in reserves and a lot lower noise ratio.


#23

Give them nothing, the case they instituted is worthless, null and void if what are obtainable in tezos terms for contribution is lawfully executed. They agreed to all the terms before embarking on the contribution. Again, they agreed to waive their right to institute a class action and possibly if there must be any litigation, it must be carried out in Swiss and according to Swiss law.
The case is likely to be thrown out!

Tezos Terms Call Contributions “Donations”, Contributors Apparently Waive the Right to Class Action


#24

On that note Mike, I would agree if that was there only request, but I doubt. If just getting reimbursed (in btc) and their tezzies destroyed, there would be a positive impact to other tezos holders: the market cap of Tezos would be lower (since less tezzies in circulation at launch), hence more upside potential.


#25

I dont think the market cap would be impacted. It could even go up with fewer noise-makers in the system. Total Tezos market cap is not based on the number of issued Tez, its based on the value of the whole platform. Tezos holders would simply get a slightly larger percentage piece of the same pie.


#26

But since the market cap is:
{total number of tezzies} * { market price of 1 tezzie}
The number of tezzies influence outsiders in their decision, and more tezzies mean potentially more sellers.
Anyway, all academic
:slight_smile:


#27

Tezos can be split fractionally with zero coat so issuing more doesn’t increase liquidity. Just like most new Bitcoin owners are now trading in fractions of a Bitcoin. With that logic the US could just print more dollars and not worry about inflation. Or a corporation could issue more stock and not expect dilution. You can’t issue more Tezos and expect a higher market cap because as you issue more, the per Tezos price declines in value proportionally keeping the market cap essentially constant. Just like removing Tezos from the system should increase the per Tezos price therefore increasing the value for the remaining stake holders.


#28

I guess there are also a lot of depressed and jealous non-participants of the Tezos ICO who just wait for bad news and carouse whenever they get what they want (i.e. the chance of Tezos failure). However, responding to your hope of diehard Tezos fans: I agree that we should have those here on this platform, but given the Tezos idea, I believe that being such a diehard fan (I am) does not mean that you shouldnt criticize/question the activities of Tezos and its community. There are enough dumb yea-sayers in this world. A constructive and sometimes even emotional (but never insulting) discussion and confrontation is key. Its part of a vivid and functioning democracy.


#29

Getting off topic, so I’ll just stop except stating the price is determined by willing buyers and sellers.
But here is where we are in agreement: and if the price is higher because there is less tezos, that was my point in terms of benefit for us: our personal holding’s value is higher.


#30

Phil, I could be wrong but it looks like the council is pretty much frozen pending this investigation of Gevers. Not only could they not issue full refunds, they can’t even refund the late or under .1 buyers! I doubt the foundation is even capable of making any decision on anything right now! I find this situation far more troubling than this idiotic lawsuit.


#31

That make sense Drake.
Anyway, since lawyers need to be paid, we know they are looking for more than their contribution. Hence for the rest of us not interested in this communist-agenda lawsuit, we would be losing if they had their way. But that’s going to happen, particularly based on the good inputs from yourself and others.


#32

PhilChampagne, we won’t be loosing )) We have already lost whatever we could have lost. We have lost our free BCH, BTG and going to lose soon B2X coins. If you had invested in Tezos with BTC then it is a case for you!
I am wondering why people don’t care about what they have already lost? Why people still worry about potential lost?
It is sad to see here so many optimists like you. You could have been much better positioned now, should you not invest any single cent in Tezos. Just look - BTC went up from 2500 to 7500. Man, it is three times since Tezos ICO. Plus you have lost forked coins - it is another 15%


#33

If this lawsuit wins and they are able to collect, expect about 10% btc back while the lawyers make millions. You are extremely naiive to think you will see anywhere near half your investment.
The best thing ico donators can do is help the Tezos team any way they can, not spreading fud and supporting these ambulance chasers.


#34

Nobody forced you to “donate” to the ICO.
And you were fully aware of the terms.
If you think you have made a bad choice then fine leave and forget your potentiel tezzies.
For my side I don’t think i made a bad choice. And yes I am willing to loose what I invested if this can serve a better vision of the future world people like Breitman’s are trying to build.


#35

Agree… besides the lawsuit, this whole situation paralyzes the efforts. There are no news, nothing. Its troubling. This should be resolved soon. Wasnt there a statement that the foundation will soon decide how to proceed? I read something weeks ago.


#36

Seems to me that even if you want to view this as an imvestment (incorrectly) that people don’t understand how that works.

No, you don’t get a redo.
No, there are no guarantees.
No, you can’t claim “something else went up more, so I was scammed”.

I’d be a gazillionaire if that’s how stocks worked.

Tezos futures are currently over a 300% return if I’m not mistaken. Yes, that’s not indicative of actual launch price necessarily, but it’s the only metric we have. Not bad. Not worth crying over.

IMHO, the negativity towards Tezos is very well orchestrated by other crypto holders largely. They have reason to “fear” an actually useful ecosystem with future-proofing built in.

But that’s the way of innovation: you build on earlier work and improve it. I love my iPhone X, but it’s not a from-ground-up breakthrough … but big deal! The same mentality that trashes everything Apple seems to be in play with Tezos, which based on Apple’s success is a good boat to be in.


#37

I absolutely agree. I don’t see much news about Tezos project in crypto space media except bad news. Though, some people still saying they’ve seen Artur’s periodic articles. Where are they? Why any crypto channel or media do not want to publish anything but bad about the Tezos? Maybe because there is nothing but bad about this project?
Some people say - bad publicity is also publicity - how stupid they are! In crypto it does not work. It only works for Trump and other celebrities, who have established already themselves as stars. Tezos is not even close to be named a star. it is unborn child at this moment and it needs good publicity, not bad


#38

labeoTairovo Why are you so negative? why don’t you just fck off and find something positive to spend your time on rather than this project which you obviously hate?


#39

Sssh!! you are Wrong dude!!

Why shouldn’t your competitors present you in bad light? Even your very mouth is NEGATIVE publication! Did you actually contributed towards Tezos development? Be sincere.


#40

Dear Mitezos, yes I have contributed to Tezos ICO, and most likely significantly more than you did. But I have invested in different Tezos.
The Tezos that I have invested was three years in development prior to ICO, so I did believe in Artur’s speeches about how experienced they are with his wife and how long they have been working on the project in the past. But it turned out that development was not happening during those three years, it was a joke and now they are still looking for O’Caml developers and couldn’t find them.
The Tezos that I have invested was called to solve the governance issue in crypto world, but it turned out it can’t solve the governance issue inside their own team. That was the biggest disappointment, much bigger than lack of code developed and lack of developers itself.
The Tezos that I have invested was largely supported by Tim Draper, who now seems on defense. He is saying now that he was a long-term investor, not a short term. How stupid is this? In crypto we don’t have long-term horizons, everybody invests only short-term and willing to get a return as soon as possible. And the reason for that is not people’s greed, the reason for that is lack of regulation is crypto. How can you invest long term, without any warranty from anybody that all your investment won’t vanish in one year or so? In fact, 99.99% of ICO will die eventually because they were never supposed to deliver anything.
The Tezos that I have invested was formed by two young and bright individuals that both have good credentials, but it turned out they both are just a teenagers who never saw a real business. They just spent a couple of years in big corporations sitting on the salary and have no entrepreneur experience at all.
The Tezos that I have invested was supposed to be lead by CEO Kathleen. She was hired as a marketing and PR manager. But we never saw her saying a word about Tezos in any mainstream crypto media. That was her only task. She was supposed to talk about Tezos, propagate it and do marketing. Since ICO she did zero efforts in pushing Tezos to the market, nor she did explain the Tezos recent troubles. She passed it to Artur. What kind of CEO is this?

But in your Tezos these issues do not exist. Therefore we have invested in two different Tezos


#41

No, We have invest in the same Tezos that you described excepet statement above.

A lot of people are now seeking long term investment. Long term investor in Bitcoin would have won 90 millions dollars for 1 000 invested in 2010. Show me a investment with ROI like that in 7 years and I would be happy to participate.

I think a lot of people around here are thinking long term with Tezos. We just have different point of view.