Tezos: The July 1st ICO Review

WolfofCrypto on Tezos

On July 1st the long hyped Tezos ICO is going to start. The following is the notes I took as part of my own due diligence on deciding whether or not to invest in this ICO.

Overview of Tezos

Work began on Tezos in early 2014. The Tezos programming team is headquartered in Paris, France. After reviewing the credentials of the Tezos team the appear to be a very talented group. Tezos has been built from the ground up and is not just another copy of Ethereum or Bitcoin.

Tezos has not published their gensis block yet. It may take four months before the network to goes live.

Features of Tezos:

• Proof of Stake Mining: every token holder can participate as a delegate regardless of the amount they hold. They say their inflation rate will be “nominal.”

• Smart Contracts: The Tezos solution to malicious users is to cap the maximum number of steps that a program is allowed to run for in a single transaction.

• Self-Governance: The Tezos foundation will retain a veto power over protocol upgrades for a period of one year from minting the Genesis block.

• Written in OCaml programming language

The Tezos ICO

The Tezos foundation will start its fundraiser on July 1 2017 at 6:00AM UTC. It will run till July 31st and is uncapped. The ICO will have a conversion rate of 5,000 Tezzies for 1 BTC.

Due to the ICO being uncapped and the network hasn’t even gone live yet I am going to wait for this project to get further along in development. There is a very good chance the price will suffer from milestone fatigue and dip below ICO price for the same reasons.

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Good write-up. Same here. Going to wait after ICO see how it goes on the exchange.

Thanks for the feedback.

I will do the same, 5000 for 1 bitcoin ? lol yeah i will wait, for now I am better off putting my money in BAT or WAGERR .

Good info, upped and following.

I took a quick look at WAGERR, something didn't feel right.

What bothered you about WAGERR?

That's what people said about Ethereum lol.

lol, you are right. I will take another look at it. Are you buying WAGERR?

Gonna follow your trades

I still don't understand why this crypto is so "anticipated" and expected to be the biggest ICO ever. What problem does this crypto solve?

Nice breakdown. I don't think 1btc is a min. tho. That makes it roughly 0.57 per or for aprox. $57 you get 100 token. I think I'm going to do both. Get a small amount in the ico and actually take a position to hold when it dips

I like the proof of stake that there's no minimum amount needed.
Self-governance to me sounds like a bad idea as with BTC changes are really hard to make.
The programming language again is a huge problem. It's written in a language no one is using.
I did hear a lot of hype about it, but I can't figure out why. Probably would have promoted them, if they had a bounty campaign, but they don't just like a lot of other common things for good ICO's.

I think this is a reasonable set of assumptions to make. The only spanner in the works would be the 20% bonus period for the first 400 btc blocks.

Thanks for the extra info, taken on board, but decided this was one I wanted to jump on. my first ICO - love the story & the ppl behind it, feels like a real business here and not an inflated story.