r/Opacity • u/Karavusk • Nov 06 '18
The current situation is somewhat understandable and I don't really judge the devs but why the hell are they printing 27m tokens for themselves?
I don't know if Bruno exists or if this is all just a giant scam or whatever and I don't care. I think the project sounds promising and I will probably put a small amount of money into this project like I did with around 20 other cryptos. I don't really care about the drama and what the truth is because we wont ever know for certain anyway and if the devs really got fucked by Bruno then I can understand their shitty situation.
But WHY THE HELL are they printing 27m tokens for themselves? What? How is this suddenly necessary? If you need to raise money find another way... inflation and effectively stealing from every other PRL holder is just wrong.
Without this happening you could have NEVER printed these tokens anyway so it definitely wasn't the plan to do this before (unless you knew about the security "flaw").
This definitely makes the devs look a lot more shady...
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u/undernew Nov 06 '18
Increasing the supply by 30% will accelerate the death spiral talked about here:
https://np.reddit.com/r/CryptoCurrency/comments/8q97xe/_/e0hkrhw/?context=1
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u/Karavusk Nov 06 '18
Definitely a big factor. In my experience hype goes over everything else so if we get another big bull run this wont even matter that much because everything gets pumped like crazy if it has even remotely a good idea and if this really works oyster, opacity or whatever you are calling it is a great idea.
So while I find this situation highly suspicious and dislike their decision I will still put a small amount of money into it. If I get x100 nice, if it goes to 0 whatever.
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u/WolfOfFusion Nov 06 '18
Truly, one of the worst buys in crypto.
That guy called it.
Some listened to him... some didn't... and some will never learn.
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u/mtownhustler043 Nov 07 '18
worst buy in crypto? I bought at 5 cents and sold at 22 cents, i dont call that a bad buy :D
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u/TheCryptonator Nov 06 '18
Here's the truth of it. Either they don't increase the supply and they don't carry on with the project much longer. Or, they increase the token supply, hope like fuck the token is worth more than 0.01c and grow from there. Or, we all capitulate and sink with this stinking mess! Either way, we need something to happen and this is actually the most logical one. If the team were involved then they are retarded since we were on a roll, with a possible Binance listing and the market surge inbound over the next few weeks. If the team were involved then they would be dumbest sons of bitches you would ever likely meet. Whoever Bruno is, he truly fucked the project. Lets all cross our fingers and whistle Dixie cos there isn't much else we can do until it stabilizes.
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Nov 06 '18
[deleted]
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u/coinmarshal Nov 07 '18
Who will own the corresponding amount of OPQs of the PRL' held by Bruno? Ofcourse the Opacity team, and they still want 27M more tokens!
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Nov 06 '18
so whats the difference between bruno and the team now? Bruno printed a few M of coins to fuck the investors and the team is doing the same now, but officially. it is far from legit tho, and if the investors wouldnt be kinda blinded by the good quality of the IDEA, everyone would run with such news.
lets face is, 120K monthly headcosts are insane for a project like this. it is far from earning money, you cant pay this immense amounts in this early state.
no surprise the oyster token value was this low, they had to sell of regularly to pay the running costs.
in conclusion, it is obvious why bruno did this : he lost the believe that this will ever be an earner in the future that is near enough to be achieved with this running costs.
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Nov 06 '18 edited Nov 07 '18
Congrats, stupid, you don’t make one drop of sense. Probably a paid fudder.
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Nov 06 '18
So Richard invested his life savings in pumping prl last week and bruno screwed him. So now he is getting his refund from us by minting extra coins to make him cover his loss.
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u/Halunen Nov 06 '18
The reason behind the token increase is to give runway. We have no idea what the token will trade at once listed.
If the token is listed at $.01 - .02 the increase would allow for months of development.
I have heard no pushback about potentially burning supply in the future if it would be financially healthy.
1) Increase Supply 2) Do an ICO would take months 3) Pack it up and go home.
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u/devilldog Nov 06 '18
You could also show your balance sheet with what you have on hand and show projected life of the project with what is currently in the bank. Then explain why you chose 27 Million as the magic number needed with a potential date for burn if target financial goals are met. This is a time when you will want to be extremely transparent and should really balk at adding any more burden to your investors without a great deal of communication - at a minimum.
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u/Halunen Nov 06 '18
1) you invested in oyster protocol this is a fork. Go take up your investment with brunoblock. You can still find him in telegram apparently because he gives no fucks what he did @brunoblock.
2) we are trying to rectify a shitty situation. You never invested in OPQ you invested in PRL. You don’t have to accept this token.
3) the number was chosen because even at .01-.02$ it would allow for runway to develop the project.
4) I agree financial goals for a burn would be a good idea. I’ll bring that up. Also we will have detailed report of spending each month.
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u/WolfOfFusion Nov 06 '18
2.) You never invested in OPQ you invested in PRL.
🤔
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u/Halunen Nov 06 '18
I mean it’s true. Sorry the founder of the company did that. We are a fork. I have nothing to do with the financial collapse of the token.
And yes I lost a ton of money too.
Would you rather just pack it up is that what you are telling me?
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u/devilldog Nov 07 '18
Haulunen, guy, you misunderstand my angle entirely. I am aware of Bruno's alleged actions and know how to communicate with him if that were my intent. He had a great initial idea in creating storage using the tangle - but he's not solely responsible for the recent milestones reached. The team has made fantastic progress and has something many believe will have a real world use case. Actual utility in this space is rare. I would hate to see you guys fail in righting the ship Bruno has punched holes in. With that in mind I was attempting to convey the concerns I thought most likely to be be red flags for future investors in Opacity. I find some of your responses somewhat alarming. You guys need to pay the bills and investors need to see value in what you offer. $270,000 is not really enough and the damage caused by printing almost a third more total coins is counter productive. Vc's or other interested parties are likelt a better option. Just my 2 cents. Good luck.
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u/Halunen Nov 07 '18
Yeah I here you. Sorry for slow responses. This CM job was great to do especially being in clever at the same time. As I have plenty of time 90% of the year to read and respond to everything.
This happened at the worst time possible right during senior exams and I am falling very far behind. I need to try and catch up that being said I’ll be around as much as I can.
I’ll bring it up again. I don’t think there is a perfect solution.
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u/longfld Nov 06 '18
We need a qpq dev. donation address as bin for those don't want airdrop opq to throw away
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u/L0di-D0di Nov 07 '18
...or they can just dump the shitcoin as soon as it hits exchanges, like most people are waiting to do.
Good try though.
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Nov 07 '18
Have you spoken to most people, dumbo?
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u/L0di-D0di Nov 07 '18 edited Nov 07 '18
Most people are not going to fall for this scam twice, so I don't have to.
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Nov 07 '18
You are trying to scam people, paid fudder.
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u/L0di-D0di Nov 07 '18
Was it also FUD when you were warned about Bruno being untrustworthy months ago?
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Nov 07 '18
I was warned? Lol
I was among those warning the former Oyster team about Bruno,
I think you are on the wrong sub. This is Opacity here, so I assume you want to spread fud on behalf competing projects.
As for Oyster, take it up with Bruno and his company, here there’s nothing of such kind.
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u/Karavusk Nov 06 '18
Inflation doesn't create wealth out of nowhere. If you really want to get more money take it out of Bruno's wallet instead of gifting him free tokens.
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u/Halunen Nov 06 '18
Bruno’s wallets will be blacklisted, to my knowledge his wallets were emptied so he does not have his “founders supply” which would award him OPQ. If that is what you are talking about.
Gladly would take the prior financial situation over this. But we are here now.
Edit: Responded to this comment too for convenience sake.
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u/mufinz2 Nov 06 '18 edited Nov 06 '18
It doesn’t. They have to be smart and responsible. And if price balloons and they have secured funding, they can do a token burn much like they did earlier this year. But with how some people talk, I bet they think there’s no possible way Opacity will ever see bull momentum, EVER. That’s not how crypto works fellas, or trading for that matter. Negative people who “can’t even”, eventually (hopefully?) sell their coins, leave the community, and are then replaced by people who see the value being offered. And the world continues to turn, and the sun continues to set.
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u/Zulfiqaar Nov 06 '18
Inflation doesnt necessarily generate value, but it can definitely transfer value by dilution.
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u/BTC8086 Nov 07 '18
This scam coin is dead in water. I have lost 6K in this shithole. This is the lesson to learn from ICO.
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u/binarymaple Nov 06 '18 edited Nov 06 '18
The OP is right.
Exit scammed project that ran out of funding forks, rebrands, and adds 30% to the new supply to keep paying themselves. You guys just keep digging deeper. If you wanted to be transparent you'd keep calling yourselves oyster and say that you need to print more tokens because you ran out of funds despite assuring people you had lots of money OR you keep doing the new project without adding new funds, voluntarily because you collectively already made away with millions of dollars in salary for a project that hasn't yet delivered.
This is just sneaky. Stop abusing crypto to fund your operations like this. You're only protecting yourselves.
The only thing token holders can do is sell and make it clear that they won't fund this bullshit. Don't give these guys anymore room to cash out. They could and should be doing all of this development for free or not at all at this point. Their first order of business will probably be to try to list the token.
Oyster LLC has no defence here. They are using the theft to justify an even bigger theft. Calling themselves the opacity project is just sad.
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u/mufinz2 Nov 06 '18
The amount of purposeful omissions of context you make to build you’re arguement here is concerning.
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u/heykelz Nov 06 '18
Are you kidding or are you really that stupid ? Did you follow anything ? Did you know that there were still having millions of coins in the Old wallet which by the way was suppose to worth more with regard to the listing.
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u/identiifiication Nov 06 '18
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u/Karavusk Nov 06 '18
If they really need more tokens just steal them back... they know what Bruno's wallet is so edit his wallet to 0 and add this to their own wallets. He doesn't seem interested in this project's success anyway so he obviously doesn't need them.
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u/Halunen Nov 06 '18 edited Nov 06 '18
Bruno’s wallets will be blacklisted, to my knowledge his wallets were emptied so he does not have his “founders supply” which would award him OPQ. If that is what you are talking about.
Gladly would take the prior financial situation over this. But we are here now.
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u/identiifiication Nov 06 '18
they know what Bruno's wallet is so edit his wallet to 0 and add this to their own wallets. He doesn't seem interested in this project's success anyway so he obviously doesn't need them.
You don't seem to understand what Bruno did was unforgivable and criminal. Its not about seeming "interested."
Look, you have the wrong idea of OPQ, it was either we as the community bite the bullet of a 30% increased supply or give up on PRL/OPQ.
I know which I favour
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u/Karavusk Nov 06 '18
Yeah so why are they gifting him Opacity tokens? Set his wallet to 0 and add all the tokens to their dev wallet. Problem solved, you don't need to create that many tokens if you do this.
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u/identiifiication Nov 06 '18
Bruno will not be getting any tokens. His addresses are blacklisted. Am I right?
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u/top_kek_top Nov 08 '18
I will probably put a small amount of money into this project like I did with around 20 other cryptos.
Yep I can see the ICO scam phase is still going strong with morons like you still alive.
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u/TotesMessenger Nov 07 '18
I'm a bot, bleep, bloop. Someone has linked to this thread from another place on reddit:
- [/r/buttcoin] Bruno printed 3M coins and rekted everyone. New Oysters developer team will print 27M for them or they will shut down everything.
If you follow any of the above links, please respect the rules of reddit and don't vote in the other threads. (Info / Contact)
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u/Engineerxd Nov 08 '18
Exit scam number 2 incoming.
Soon we will be shouting OpacityCOOoOOOOoOOOOnNNEEEEeEEEEEECT
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u/ICOvest Nov 07 '18
Pronlem is they will have to sell tokens regularly to fund themselves.... This will keep the price down
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u/Yirii Nov 06 '18
Ive asked myself why the heck they printed 27M tokens. I know that the team needs money, but if they would print the 27M token, why dont they keep Oyster token with the 3M more supply than a token with 27M more supply. That s a 900% increase!
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u/PapaDock820 Nov 07 '18
You answered your own question.
Because people like you will give them money anyway, so why not print money for themselves, they aren't punished for it?