My end-verdict for Bizcoin stands, but since I last wrote about this coins, lots of changes have been made! So for the most current specifications, launched websites and more...? Go to . Thank you! I did not feel like re-writing the whole article just for this. And it also shows nicely how fast the team is developing and adjusting to market request. As a Bizcoin should 
Short introduction...
Social media?
Twitter:
https://twitter.com/bizcoinofficialBitcointalk.org Official Thread:
https://bitcointalk.org/index.php?topic=733070.0Freenode IRC #BizCoin:
http://webchat.freenode.net/?channels=BizCoinAnd of course their website:
http://www.bizcoin.org/Other websites owned by them, with services for Bizcoin:
http://www.thecryptobid.com/ (marketplace; to be launched)
http://cryptohire.com/ (job offers; live)
Coin details and distribution:
BizCoin SPECIFICATIONS:
>> THIS IS A POS (Proof-Of-Stake) COIN! <<
>> 100% PREMINE - 99% IPCO <<
Total Coins: 10.000.000 (10 Million)
Algo.: X11
Confirmations: 6
Block Time: 60 Seconds
Diff. Retarget: Every Block
POS Interest first 10 years: 3.5 %
POS Interest after 10 years: 1%
MIN Stake time: 24 Hours
MAX Stake time: 30 Days
POS Maturity: 100 Confirmations
Preliminary Roadmap:
As you can see, all looks flashy enough! It's a good start. The [ANN] is written with great detail - I have seen that differently too!
For the coin itself: is it interesting? Has it special features? Well, yes and no. It is a PoS coin, fully pre-mined. That is not new. Interesting, but not new. The coin is fast: as it should for a business coin! What else do we have?
Update: some information below might have changed: check here:
http://scforum.info/index.php/topic,9275.msg25804.html#msg25804Q. What is new to this coin? Why should I care about it?
A. From a marketing/business perspective, we are dedicated to bring a lot of development on the table. We are a young and devoted team, dedicated to support the coin and the projects that we are developing for this coin
Q. Why not an anonymous coin/NXT clone/fresh code or other trend type coin?
A. Building a coin bloated only with tech-savvy features is not enough, the real question is how many people will use that coin and for what reason? We want to build a coin which is secure, stable, easy to use, which is going to be used for as many as possible business, online and offline. We hope to develop and support a coin which can be used even by your granny to buy her next audio book online
Ok, we know about their intent. Hard working, professional team not in it for technological breakthroughs, but for real-life day-to-day application for their crypto BizCoin. And for making money. As we all want
What is this coin all about? Well, Biz obviously will stand for business. The coin itself has no special features standing out, except for the name and logo, to be a business-coin. It is fast. It has a sensible amount of coins and it has PoS (interest). BUT don't run away yet...
For their IPO structure is an interesting one ànd as mentioned before, not technical but rather Real Life oriented. Value comes through services and that in itself is what business should be all about!
We are dedicated to build a large variety of projects and services dedicated for BizCoin, thus creating an incentive to use and stake BizCoin on a long term. Only by having a use, this can succeed in a long-term adoption by various business on a larger scale
Why is the IPO interesting? Well,
everything is already made. There is a blockchain, a Rich List, a wallet, a Block Explorer and even a faucet. Twitter bounties are already being paid as we speak! Max amount of coins is determined too. Only thing not determined is the total of amount that will be invested. There is a maximum of 100 BTC. Everything below that means extra Bizcoin for the investors. If you are the only one investing 0.1 BTC, you get it all. So here is some business decision making for you to start with!
To prevent somebody hi-jacking the IPO, the maximum per investor is set on 3 BTC (the minimum is 0.1, so to attract only more serious investors). This is not a 100% fool-proof system. "Identification" means "having a bitcointalk account". IF you don't have a BTT account, other means of verification are available (twitter, facebook, google+). It will weed out obvious scam-attempts, but a professional scammer will find a way around that
Another trick could be that Bizcoin themselves put, say, 25 BTC into the wallet. This way it looks like many different investors already invested (few transactions, few different wallet addresses and you are set). Other investors put in their BTC and when IPO launches, everybody get their (lowered) amount of Bizcoin. The 25 BTC they already owned stays their own. And they get some extra Bizcoin to dump on the markets, without anyone knowing it. The other BTC from the investors is theirs too then. In return for a lower pay-out. This is a trick that is hard to prevent or solve... At some point trust is needed! Sadly enough
So how about
trust??
What do we *KNOW* about these folks??
To begin with... Their original account on BTT (also new) immediately got blocked again. Reason? The front-man
Chris Summer posted his full name and address in the [ANN], resulting in another unprofessional amateur ban by the BTT admins. This is not something a normal scammer would do
But for the record, here I have his address:
Christian Sommer
Lengerckestraße 47 22049
Hamburg
Germany
He registered these domains for this project on his own name:
http://who.is/whois/bizcoin.org http://who.is/whois/cryptohire.com http://who.is/whois/thecryptobid.com The only one domain that is not registered by him is
http://coinbiz.info. They took over this project from two young guys a few days ago:
http://coinbiz.info/bizcoin-org-is-taking-over-coinbiz-info/ (confirmed on their small twitter account). Some might smell scam-attempt here (buy an old domain and pretend it is yours). This is not the case. Their exposure simply is too small to count in any serious manner ;p
I asked him, as ultimate proof, if he could send a copy of his ID card (with a few credentials removed as to protect them from me scamming them
). First response: NEVER EVER! Reason? He got scammed a few years ago with horrible financial consequences and a lot of time in courtrooms. I proposed some more edits in the copy (to really take away all doubt of me being able to scam him) and he is thinking this over. I will know more in two days, after he talked with his advisors...
... that said, some FUD on BTT Forum prompted a new development:
there is going to be an ESCROW too!
We have decided to include an Escrow for our IPO.
So, we are looking for a trusted Escrow. If you know anybody who is a trustworthy member of this forum, and have offered Escrow service in the past, please let us know.
We are going to contact some trusted Escrow also.
And well, that basically convinces me for 99% sure that they are legit in their intentions. True, if they manage to get 100 BTC even I would consider running away with the BTC and leave the coin behind. But then again... If your coin is SO popular, why run away?? Especially if you already have all services up and running?? This is the first IPO I have found that does this
True, not much work has to go in a website, an [ANN] and a basic wallet with basic services. But there is more
The online Job Seek/Find website is live. Another website coming online soon for merchandise.
AND... If he would #scam...
His name will be blemished on Google for times to come (for non-European googlers, that is) as the man that ran. Not something you want on your CV. And this is also where the trust part comes in
For reference, the real life applications they already made, besides the typical coin-ones...
1.
http://www.thecryptobid.com/ (currently counting down for launch)
"
TheCryptoBid will be an online marketplace specially dedicated for BizCoin, where people can sell/buy products for BizCoin. We are fully dedicated to our projects on the long term as an online business, thus offering in the same time an incetive for our crypto currency."
2.
http://cryptohire.com/ (up and running)
"
CryptoHire is a freelancing marketplace that will help to connect “Employers” with freelancers. On CryptoHire it's very easy to hire a freelancer."
What would I do...I would wait as long as possible before investing: see how much of the 99% I can get with a little luck. If IPO at 90 BTC, I would only invest the minimum of 0.1 BTC - still a lot of money! Reason I would only invest little is that I want to "bag-hold" in percentages... I want as many coins of the total max as possible! Another valid reasoning is: if so many people invest, it is popular and I want to be IN. You decide here!
If the IPO pot remains small, say below 10 BTC I might consider throwing in 0.25 or even 0.50 BTC - my budgets aren't big; your wallet might allow bigger experiments. Again, an opposite reasoning could be applied...
There is a 7 man team behind it. Possibly 9 in the days to come! Ranging from young to experienced: a nice mix. I think scam risc is low here.
My two CENTs
Devvie!
Copy paste of the current [ANN] on BTT...
ANN:
BizCoin IPCO (Initial Public Coin Offering) has started
IPCO will end by 25/08/2014 00:00:00 GMT
IPCO is limited to 100 BTC in total
MIN. Investment - 0.1 BTC
MAX. Investment - 3 BTC
WALLETS
BizCoin SPECIFICATIONS:
>> THIS IS A POS (Proof-Of-Stake) COIN! <<
>> 100% PREMINE - 99% IPCO <<
Total Coins: 10.000.000 (10 Million)
Algo.: X11
Confirmations: 6
Block Time: 60 Seconds
Diff. Retarget: Every Block
POS Interest first 10 years: 3.5 %
POS Interest after 10 years: 1%
MIN Stake time: 24 Hours
MAX Stake time: 30 Days
POS Maturity: 100 Confirmations
BizCoin.conf
listen=1
rpcport=33482
addnode=node.bizcoin.org
addnode=node2.bizcoin.org
addnode=node3.bizcoin.org
addnode=node4.bizcoin.org
addnode=node5.bizcoin.org
We are dedicated to build a large variety of projects and services dedicated for BizCoin, thus creating an incentive to use and stake BizCoin on a long term;
Only by having a use, this can succeed in a long-term adoption by various business on a larger scale;
BizCoin Frequently Asked Questions (FAQ):Q. What is BizCoin?A. BizCoin is a digital currency (obviously), that is going to be implemented from the start in various online projects and businesses, and that is going to be supported by those on the long term;
Q. Who are you? Is there a team behind this coin?A. We are a team formed of 7 ppl for the moment. We recently bought a nice project from two young students (
http://coinbiz.info/bizcoin-org-is-taking-over-coinbiz-info/), and we made them an offer to work for us. They are very talented and friendly. If they accept our offer, our team will consist of 9 members;
Q. I never heard of you. Why are you annonimous?A. True, you never heard of me, and I'm a noob on bitcointalk forum. My name is Christian Sommer, and I'm the head of the team. We are not going to post some pictures of "us" on the website, showing how legit we are just to give some irelevant hype, but you are going to hear more about us after we establish the base of our business;
Q. What is new to this coin? Why should I care about it?A. From a marketing/business perspective, we are dedicated to bring a lot of development on the table. We are a young and devoted team, dedicated to support the coin and the projects that we are developing for this coin;
Q. Why not an anonymous coin/NXT clone/fresh code or other trend type coin?A. Building a coin bloated only with tech-savvy features is not enough, the real question is how many people will use that coin and for what reason? We want to build a coin which is secure, stable, easy to use, which is going to be used for as many as possible business, online and offline. We hope to develop and support a coin which can be used even by your granny to buy her next audio book online;
Q. Do you have a roadmap to present your future plans for this coin?A. Yes, you can visit our website at
http://bizcoin.org/#schedule to access our Roadmap. NOTE! Small projects like (Faucets, Dicegames, Online beting games, etc), are not included into the roadmap;
IPCO (Initial Public Coin Offering) Frequently Asked Questions (FAQ):Q. What is IPCO?A. IPCO is the same thing as IPO (Initial Public Offering), or a Presale, where early investors have the chance to invest in our coin;
Q. Why this model of distribution?A. Distributing the coins to a group of investors, who paid an X amount of value (BTC in this case which is the most stable crypto currency at the moment), will establish a base value to the market which is more stable compared to a market rulled by some huge farms who can mine tons of coins for a very little energy consumption. Giving the fact that we are trying to develop a serious business based on this coin, we cannot risk to have a market where one individual have the power to manipulate it on a large scale;
Q. How many coins are sold?A. The total number of the coins is 10.000.000. We are selling 99% to investors, and we are offering 1% as a bounty for different services developed by the community. Check our bounty list for available/claimed bounties;
Q. Will I receive my coins now if I invest?A. No, giving the fact that our coin/wallet is launched, we cannot control if an exchange decides to list our coin to be available fo trading. Only the Bounty Fund (1%) will be delivered as soon as the service is offered;
Q. What is IPCO Distribution formula? How many coin will I receive for my investment?A. (9.900.000 / Total BTC Invested ) * Your BTC investment . e.g. If the total IPCO is 100 BTC, and you invested 1.3 BTC, (9.900.000 / 100) * 1.3 = 128.700 BIZ . You will receive 128.700 BIZ;
Q. What is the MIN and MAX investment / individual?A. The MIN investment is 0.1 BTC and the MAX investment is 3 BTC;
Q. What are the investments used for?A. The investment will be held into a public address and will be used 100% for the development of our planned Projects. Please check our Roadmap on our official website
http://bizcoin.org;HOW TO INVEST: http://bizcoin.org/#investmentINVESTMENT BTC ADDRESS: 19FQUdhny7YShk4QGasNonHVCZYL256ooIPCO Start Date: 04/08/2014
IPCO End Date: 25/08/2014
IPCO Total Limit: 100 BTC
MIN Investment Limit: 0.1 BTC
MAX Investment Limit: 3 BTC
Step 1. Send your investment to the BTC address:
19FQUdhny7YShk4QGasNonHVCZYL256oo;
Step 2. Send a Private Message on Bitcointalk.org forum to
ChrisSommer with your
BTC TX ID;
Step 3. A signed message with the BTC address from which you sent the investment will be required to confirm the investment;
Step 4. Download BizCoin wallet and send a Private Message on Bitcointalk.org forum to
ChrisSommer with your BizCoin Address;
NOTES!*** PLEASE DON'T SEND ANY MORE INVESTMENTS AFTER
25/08/2014 00:00:00 GMT;
*** CHECK THE PUBLIC LEDGER BEFORE SENDING YOUR INVESTMENT TO SEE IF THE
100 BTC LIMIT IS ACHIEVED;
*** PLEASE SEND INVESTMENTS ONLY FROM A WALLET WHICH CAN SIGN MESSAGE FOR CONFIRMATIONS (
Bitcoin-Qt, Armory, etc);
*** DON'T SEND YOUR INVESTMENT FROM AN EXCHANGE WALLET;
IPCO Distribution FormulaTOTAL COINS: 10.000.000 BIZ
COINS DISTRIBUTED TO INVESTORS: 99% - 9.900.000 BIZ
BOUNTIES FUND: 1% - 100.000 BIZ
DISTRIBUTION FORMULA: (9.900.000 / TIB) * YIB = YBIZ
TIB = TOTAL INVESTED BTC
YIB = YOUR INVESTED BTC
YBIZ = BIZCOIN TO RECEIVE FOR YOUR INVESTMENT
If you invested
2.5 BTC and the total investment is
100 BTC ---
(9.900.000 / 100) * 2.5 = 247.500 BIZYou should receive
247.500 BIZWE ARE LOOKING FOR AN ESCROW TOO IF YOU DON'T FEEL OK TO INVEST DIRECTLYPUBLIC LEDGER: http://bizcoin.org/#ledgerPROJECTSVisit our website: http://bizcoin.org to check our projects and services, and also to access our detailed roadmap;
All updates (Projects, Services, Roadmap, etc), will pe available on our website. We are trying no to bloat our OP too much;
Thank you.ROADMAPNOTE! Please visit our website: http://bizcoin.org to access a full and detailed version of our Roadmap EXCHANGES:TBA AFTER DISTRIBUTION
ACTIVE JOBS / BOUNTIES: AVAILABLE FUND 56.899 BIZ***
BizCoin Twitter Tip bot - 15.000 BizCoin Bounty:
http://cryptohire.com/projects/bizcoin-twitter-tip-bot***
Spread-The-Word BountyALLOCATED: 30.000 BizCoin
CLAIMED: 450 BizCoin
====================
AVAILABLE: 29.550 BizCoin
You receive 50 BizCoin Bounty for:
Spreading the word about BizCoin, tweet/retweet something relevant and follow us on twitter: https://twitter.com/bizcoinofficial;
Please send a PM with your BizCoin address for bounty. Don't post your address on the thread
- You receive 50 BizCoin for each relevant tweet about BizCoin;
- You can claim daily;
- Don't use a fresh created account;CLAIMED / DELIVERED:yavuzc78 - 7RjHWMR8huQepBxizrtCobXtbbaxnnWSoJ -
20.000 BIZ Bounty: NOTE! He was very kind and used his whole bounty to fund the BizCoin Faucet
BizCoin Faucet:
http://altcoinix.com/faucets/biz-coin-faucetBizCoin Dice Game:
http://altcoinix.com/game/BIZanimalroam - 7CiXdewcpX3qMQmAZzJcQ6uBbUqMqDRuXM -
12.000 BIZ Bounty - 3rd party Block Explorer (
http://cryptohire.com/profile/animalroam) -
http://cryptobe.com/chain/BizCoinkarimdr2 - 7JGUjS76Km2y7koikkafFNeMQVurQMiEfo -
5000 BIZ Bounty - OS X wallet compilation
4w4k3ning - 7RjeBi6YhsEkrkT49exi5bGxBWVurthPpD -
2000 BIZ Bounty - Thread Portuguese translation -
https://bitcointalk.org/index.php?topic=725380.0baby222 - 7EEifDQfKzVS31aeui42r9h2RdbHYJqakt -
2000 BIZ Bounty - Thread Chinese translation -
https://bitcointalk.org/index.php?topic=726116.0dadingsda - 7PYUBYFfumu8Ju5meRwyKwe9b8Pzq3QvVd -
2000 BIZ Bounty - Thread German translation -
https://bitcointalk.org/index.php?topic=729988.msg8251071#msg8251071
Total Members: 14197
Topic: #BIZCOIN #IPO Analysis: True #Business Opportunity? Or a Run-for-#scam? Find out (Read 15792 times)
