Monday, May 8, 2017

Selling my AETERNITY tokens (æternity blockchain)

Job done.

I feel greatly relieved.

From the time perspective I admit - I should be less emotional with my trading.

I should hold on to these tokens a little bit longer and sell them during Phase 2 to a greater fool - I'd probably get more.

I have already admit - I'm terrible at trading - I shouldn't be doing that - here is my blog post on Steemit - Investing strategy suiting your needs and why I won't actively trade Bitcoin (or any other cryptocurrency)

At the end - I have exactly the same amount as if I was holding my BTC all the time - minus a few sleepless nights, stressing out about the project.

Commit 1, commit 2, commit 3 - and these are not the only difficulties in the project - see also ICO DNA.

I'm selling my AETERNITY tokens.

The main difficulty - they are not listed exchanges, they are not even issued at all... So how do I sell something that doesn't exist just yet?

I've posted message on Slack and on Telegram, to avoid chit chat speculation a dedicated channel was established:

Last night we had an interesting conversation about logistics of the trade. I suggested ESCROW and with some tweaks we can make it work:

1) find a buyer (I'm a seller)

2) find reliable, reputable ESCROW (both agree, 2-3% fee of something)

3B) (B for "buyer) sends BTC or ETH to ESCROW

3S) (S for "seller") sends private key to ESCROW

4) funds are in ESCROW for a period of time

5) tokens are released, BTC or ETH get transfered to my account

There is a number of issues with that approach - trusted ESCROW, time before token get released, chance (unlikely but still a chance) that I change my mind immediately after tokens get released...

There are so many moving parts here, it's scary!

And yet I cannot figure out any better way...

Why selling now?

I was thinking for a long time how to resolve this matter.

I have communicated directly with Yani and I educated myself in game theory - Nash Equilibrium and Prisoner's Dilemma - me saying that I want to get out will inevitably reduce the confidence and therefore value of the tokens so here comes the explanation...

Since day one I was active in the community - provided instructions how to run on Mac and on Windows (almost) - wrote some code for the wallet and we were discussing options of hiring me. Unfortunately there was some f__kup along the way - initially I thought of it as WTF OMG LOL moment - but in reality it was uncool - so I reversed the thing, apologised and acknowledged mistake. Too late - trust is something you build for a long time and then one moment it's gone.

I was hoping to transform crisis into an opportunity - that even if something goes wrong you can count on me. I still believe there is a chance of us working together. At the same time I completely understand your stance and I can only hope that there are lessons learnt on both ends.

Tangent: whenever there is a decision - the universe splits into two... I really wish I was in a different universe - working with you rather than trying to get out. What's done it's done - right now I want to get outta here, I don't want to be a contributor or an investor - I want to move on.

I've signed NDA so I cannot tell you anything that is confidential - I don't even want to share public information - do your own research and due diligence... And if you have way too much paper money or crypto holding - getting ready for the Kickstarter - - YEAH - the thing is for real!


  1. How many tokens, and how much are you looking for?

  2. He just described any other Ico with its risks. This read was a waste of time.