Charlie is a contributor too!
Well, I only see “we pay 45% of all tokens to ourselves” . Thanks, but no thanks.
Well, Charlie saw fit to contribute to their 11 million dollars recent funding, and Litecoin has its own pool to pull from. So Charlie seemed to say thanks and here us some money. Also, the other pool isn’t for them but paid out. Research more before being quick to judge. Charlie did his research.
Charlie and the Foundation supports projects that have a possibility to improve Litecoin’s use and acceptance.
But this is not a guarantee, sadly there were projects in the past that failed with their support. That’s not their mistake. They cannot guarantee that these projects will succeed.
From my point of view, if the money is kept for funding development (that every chain keeping some of the money says they do) that money is still in their control and it is still a “premine”. Let me have my opinion. It is probably still a good decision from CL to support the project, but I’m sure he is completely aware of the shortcomings and the risks.
I have the utmost respect towards CL, but we are in very different positions, so our actions could differ a lot even if we would see things very similarly. And the option is there, that even our opinions could differ a lot on this topic. I believe he support the project because it has the possibility to help Litecoin. We can see that you are also enthusiastic about it, so he might be right about that. I still see the keeping 45% of tokens as a problem.
I don’t expect @coblee to react on this, but if he would, that would be welcome.
The thing is, it seems the market doesn’t care about “premines” or “development funds” any more. I still think the incentives will be misaligned and in the long term it is very likely to be bad for a project.
That’s a lot of talking without researching. I’d recommend researching more, like I’m sure Charlie did, before making a Judgment. Using Stereotypes, history, and jumping to conclusions are often wrong. I base my conclusions on ongoing study rather than emotion.
Thanks. I will look into it. But there are 10000 projects in the space. Good luck researching them all. More often than not simple things are enough for a good call. Usually for me, if it has a premine or a “developer fund”, I don’t care. Maybe this is the exception, so I will check. I research enough for my day job, usually we do not check things further if they seem stupid at first sight. Maybe one in a thousand would not be stupid, but you cannot check everything.
Great. I have no stake in an organization like Charlie, but I can see why he does for multiple reasons. Before he even invested, they offered much more for LTC holders than the other first three assets.
The thing is, if there were a “thousand projects,” most would not reach the surface of awareness as Flare has, and for a good reason.
To stereotype one extensive program by a generalization keeps one from seeing the good ones in front of them.
These are dedicated people with a good team, well funded, and massive the more you learn and get to know them.
It’s true power for every diverse coin that becomes involved. Very various coins and communities coming together, crypto was never meant to be tribalistic and centralized; the goals of Flare including wealth building and adding utility to every coin.
It also keeps me from reading about crypto projects unnecessarily like during my first year. Time is my most valuable asset. I think I learned the fundamentals quite well and why BTC and LTC are important. If something else is really important they will be here after a few years, too. There were really thousands of new projects, tokens, coins since I got into crypto. Even extremely well-funded projects struggle after 3-4 years. EOS? TRON? And many more. In 2017-18 everything was extremely well-funded. I will check out Flare because of its LTC connection, though the XRP connection also repels me. We will see how important it is after a couple of years, anyway.
I like it for many reasons including the reason it repels you. They bring in very diverse communities and coins together rather than pitted against each other. Crypto was never meant to be tribalistic. I bought BTC before Coinbase but I see the value in those who just joined too. Those who are given tenure in forums because of longevity rather than benefit is unfortunate. The fundamentals I hope developers see also includes community and accepting diverse groups who are beneficial/not scams.