from Hacker News

Coinjob – A distributed labor marketplace for computer-based work

by hamburglar1 on 7/25/17, 2:43 PM with 17 comments

• by nannal on 7/25/17, 3:08 PM

  This looks suspiciously like overt advertising for another useless ICO, 50% of which is premined and 30% (make that 40% including "bonuses" & "marketing") of that is going to the "founders".

  If this coin ever hits an exchange I would short it hard, there's no platform, no demo, the whitepaper is 13 pages of tosh

  "Microsoft Word - CoinJob Whitepaper V1.3.docx"

  "Day 1: 1ETH = 1200XCJ"

  So with 200m tokens at 1200 eth each, that's $26,000,000

  so they only want 780,000 for marketing and 780,000 for bonuses

  And how much is going to the founders?

  $3,640,000, there are four of them so skim a little marketing and bonus money and that's 1m each.

• by KirinDave on 7/25/17, 3:30 PM

  It seems like a neat idea, but do etherium-backed ICOs have any credibility right now? There are so many problems surfacing that it's not clear why anyone can take them at face value.

• by jraines on 7/25/17, 3:11 PM

  Congrats to them for front-paging this ;)

  I've heard some people say that most ICOs wouldn't stand a chance at getting VC funding. So, investors of HN, what say you of this one?

  To me, the first question is why does this need its own token rather than just using Ether? I can maybe see appcoins making sense for something like Status (mobile messenger platform trying to be the crypto WeChat), but this seems too small even if it's a success to merit a separate token.

• by byoung2 on 7/25/17, 3:21 PM

  What's with the verify endpoint. If a hacker changed the address, couldn't they change the verify endpoint too?

• by lpa22 on 7/25/17, 2:45 PM

  I could see this being successful by undercutting the Upwork fees alone