SafeNet App Funding Through Koinify


#1

Koinify is a new crowdfunding service which, from its website, says it wants to focus on funding decentralized applications, ‘smart corporations’ and crypto infrastructure. They mention safeNet as one of the platforms they want to help fund the development of apps for and have the maidsafe logo on their front page.

I really like this. In the past I’ve bought quite a few different alt coins, but now I would much prefer to stick with a smaller number of projects I believe in, but also put money into supporting the ecosystem of services around it. I would love to be able to '‘invest’ in the creation of apps for SafeNet by buying crypto tokens through something like Koinify (which uses CounterParty for selling tokens and distributing dividends).

Any app developers out there who are considering using this or something similar? If not then perhaps its worth considering.

Link: http://www.koinify.com/


#2

@DeanScottWalsh

I know that we are taking babysteps when it comes to creating crowdfunding services. To be honest this is what I want:

http://vimeo.com/21608554

Beside a token you should also be able to offer equity on these platform. Because here is the reality, a token doesn’t represent what is on a companies bank account.

Let’s say I need €10101 and offer 10% equity and I have 100 investors. This means that each one of my investors receive equity relative to their spending. Let’s say they each receive 0,1% equity. Here is where I get exited. If the company could have a cryptoaccount which can be access through multisig. If for instance a investor wants out after 5 years and 1M on our cryptoaccount. That means that they can take 0,1% equity * 1M = 1000Safecoins from the cryptoaccount, after approval through a multisig. Ooh yeah they also have their token

I getting bored of the token only approach, please some one create something like the video above. With token, equity and multisig acount all integrate into one system.

Thanks for sharing dude, you’ve been a great help today. i will send you a REAL BEER (or I’ll send you some crypto so you can get some beer), when they finally send my money. I owe you 1


#3

There are some major legal problems with offering tradable equity without going through the traditional finance industry. Its just not possible. You can go to crowdfunding platforms like Symbid or the more established Seedrs, which hold (non tradable) equity on behalf of their investors, but you can’t just sell equity directly to people through crowdfunding, let alone equity which people can trade pseudo-anonymously.


#4

I think it should be the shareholders choice to choose whether he wants to keep his/her proportional share of the profits or use it to expand the business he is invested in. This seems one step closer to that. Why should companies have complete control over whether they should or should not issue dividends and what the profit portion will be.


#5

Luckily I don’t live in a SUPER OPPRESSIVE country
There are no major legal problems with offering tradable equity (because I/you don’t need a bank). I can pick whichever cryptocurrency I want and create a multisig wallet. Preferably you would pick Bitcoin, because it has those possibilities.

Crowdfunding platforms which hold (non tradable equity) are a thing of the past and they know it. The future is tradable equity which is held by the person who invested in it. A contract can be signed and unsigned through proof of existence or what have you.

I never listen to that talk about what I can or canned (LOL). I’m not something that you put in a container because you think you got the right too. Like I said “we are taking babysteps when it comes to creating crowdfunding services”. I think it’s better to say “you can’t just sell equity directly to people through crowdfunding, YET”. Bitcoin was the first succesfull crowdfunding in our cryptosphere, unfortunately you can’t make profit through services from the Bitcoin company, because their is no Bitcoin company.

  • It still needs a few tweaks, but soon someone will just open a copay.io account with multisig (There’s your bank) and add their investors.
  • Preferably you want an account, where everybody’s cut is segmented. If an investor wants out, through multisig their funds is transfered.

People in Europe is ahead with Equity, if they want to say that you canned, your only a flight away from freedom.

Because it’s the company that will decide which course they will take. Your free at any time to not invest in a company. What I’m saying is, that you can get equity and your able to take out the finance, relative to your share. So you don’t need a middleman, all you need is a multisig transaction from the others to take your cash out.


#6

@19eddyjohn75 I love the idea of smart contracts automatically updated based on people transferring cryptographic tokens which I think is what you may be talking about.

Perhaos I’m wrong but I thought ‘equity’ meant legal ownership - so you have to follow the law for it to be equity, because otherwise its a cryptographic ‘token’ which you said you didn’t like and not actually equity at all. The law is quite strict about equity in most countries. I don’t know where you are from but I have been referring to UK law, which I believe is very similar to EU law and actually less strict around crowdfunding than US law.


#7

I think in the scenario of an DAO, the law/rules will just be written in code. I’m just being silly here, because it doesn’t matter if you call something a coin/token/equity/property/stock it’s basically about ownership.

It’s not that I don’t like the token, but most are not backed by anything. TATIANACOIN now that’s a token that’s worth something. BTW talking about tokens did you know that you can create them now on Dogeparty.io for supercheap? Actually I do like token I only get frustrated, that you can’t do more with them.

Counterparty for instance should have 2FA, because that 12 word passphrase is not save enough. If somebody get those 12 words they will get access, unless you store it as brainwallet. A little more customization would also help. What if people could login and be wellcomed by your brand. Their website should be more mobile friendly.

no dissrespect, but this is a funny line
Big Government. Small Brains. Dumb Laws.

:stuck_out_tongue:


Access to Maidsafe Coins
#8

@DeanScottWalsh

Koinify Raises $1 Million for Smart Corporation Crowdfunding Platform

Yahoo we all win


#9

Just an FYI, the safe network has a built-in mechanism for sustaining open source apps. That in combination with a small crowdfund for bootstrapping seems like it should be enough to build an app.

Equity, investors and all the capitalist crap that comes with it is distracting and a thing of the past. :slight_smile:


#10

Please elaborate :slight_smile:


#11

She means the Automatic rewarding system for builders I guess


#12

10% of all safecoins go to open source devs building on top of the network.


#13

Just saw this.
Another hilarious statement.
Dude, you make wild and inaccurate claims and proposals every week.
How much longer before people start completely ignoring your comments?


MAID sent to wrong address?
#14

Dude if I say something that is incorrect, I’m not afraid to make mistakes, apologize and provide the accurate answer.

It doesn’t cost anyone Safecoins to pay me no mind. Matter of fact, I’m just a simple consumer with totally no coding skills. I’m only giving my input from my simple point of view. I’m not afraid to speak my mind or say something that I wish the Safe Network has. Some things I say may let it seem like I’m a critic of the Safe Network, but when you love something, you will try to do everything to see it succeed. Whenever something new appears, that can help this project, I won’t even hesitate to talk about it.

What i’m really missing on this forum is attackers (hackers for those who read the newspapers). People with insight on how to try to break and disrupt the Maidsafe network. I rather see/hear them having a conversation about attack vectors here, because those are the people who can really make the system stronger.

Btw you can laugh about my statement, until somebody got a hard/software keylogger on your system. But that’s just me, paranoid android…

I respect everybody on this forum and your all welcome to comment on my comments or completely ignore them. The most import thing is improving the Maidsafe network through talks/suggestions/questions…

Cheers
:stuck_out_tongue:


#15

Yes, but when you make unsubstantiated claims, that does disservice to readers and sometimes paints others in bad light.

Here you claim one approach to securing user data is not enough and where’s the proof? Says who?

On the other topic about locking BTC within SAFE coins you claimed that decentralized exchanges are bad because the creators can run away with one’s funds (which is not much different from claiming that MaidSafe creators can get control of users’ data).

Others then have to expend their time and effort to point out obvious mistakes and inaccuracies because you didn’t want to spend 5 minutes of your time to verify your claims before you post them here.


#16

Janitor what the hell is wrong with you? A twelve word pass phrase IS DEFINITELY NOT safe enough for storing a lot of value - or ANY value for that matter. 19eddyjohn75 is absolutely right here. This is not an “unsubstantiated claim” you putz. A keylogger will lay waste to your savings in 30 seconds. If you can refute this then refute it with facts, not just bullshit. Your meme makes you look like a stupid old janitor. Are you a stupid old janitor by chance?

Eastside


#17

I see. And you & him substantiated that claim … how exactly?

A keylogger will lay waste to your savings in 30 seconds.

Sorry pal, I access my wallet only from my own PC which has anti-key-logger software installed.

:smile:

I’m impressed! Keep it coming!


#18

@eastside @janitor

You guys have strong opinions but you might need to take a breather. @eastside please don’t let your passion turn into insults, they aren’t necessary, and don’t help convince people you are right. Especially not those you aim them at.

I haven’t reviewed the thread, but also consider if you are on topic here, from the title I wonder.


#20

You may need to step down your insults a wee bit :wink: , its a decent position you are taking, but the delivery is to troll like. I doubt you are but this is how these folks operate. Insults are a hook, but not good. Here its good to investigate and be wrong, being wrong is a blessing of intelligence so accept that. Welcome though and do please put points forward, just not so hard :wink: Encourage technical and logical argument to find the answers.


#21

Phrasing it like that implies that the amount of words is the problem, but it looks like your point is passwords on their own are not safe in general. A keylogger will log a three character password just as well as a 20 word password.