Here is what I know about Frictionlesscoin.
First he spammed the "NXT source code flaw reports" thread
https://bitcointalk.org/index.php?topic=397183.80 Over several pages he makes every third comment or so, trying to bring down NXT and probably the NXT price. No flaw has been found afaik. He was completely distructive and not interested in helping to find flaws!
See one of my posts here.
https://bitcointalk.org/index.php?topic=397214.msg4384989#msg4384989 Here is one of his endeavours that followed:
[ANN] NEX :: Nxt Reimagined - Industrial Strength - Imagine Fairness!
https://bitcointalk.org/index.php?topic=422052.0 A pointless NXT fork...
He also launched iXcoin in 2011 which went nowhere really.
So to me it looks like he is running around in the crypto space trying to make money in whatever way possible.
Leaving his intentions aside, people will lose trust in I3 when they see Zenithcoin and/or Frictionlesscoin cooperating with III. Everyone in the altcoin community knows Frictionlesscoin, especially those involved in 2.0 projects. III has so many great projects that would be hurt by this. The market peg in BTS X depends on a self reinforcing assumption among speculators. If I3's reputation is damaged there might be enough scepticism to call BTS X a scam as well (other than calling it an experiment).
Please don't make the mistake to arrogantly assume "we don't need the Bitcointalk community. They are all just dumb miners". Bitcointalk and Reddit shape the opinion of many (it is the community), also of those that report to coindesk and mainstream media.
Also when BTS Music is the future why not get something like Sony Music or a record label two sizes smaller than Sony
I googled Eddys Name and found nothing, not a website, nothing.
When I invest a major indicator for success/failure are the people behind a project . You have to invest in intelligence and character/honesty.
I would also like to remind you that this is a dangerous cocktail in combination with old (pointless; doesn't matter though, a negative opinion is formed fast) scam accusations about Invictus
https://bitcointalk.org/index.php?topic=279771.0;all plus aversions from the Ethereum community: Originated here:
https://bitcointalk.org/index.php?topic=325425.msg4297669#msg4297669I am bullish on III but all those social things can be a serious stumbling block for the whole project. I wrote about this with respect to professional business conduct here:
https://bitsharestalk.org/index.php?topic=4059.msg50857#msg50857 If Invictus fails then not due to insufficient software engineering but because of no worty connections / questionable reputation. I can not do more than to urge you to take this
serious. The first DACs / 3rd Parties will be crucial and should be text book examples! This will shape the impression of I3 far more than if by accident someone fishy came on board in a few years...
Eddie IS this business.
People talk a lot. What evidence did he give you for that? Due diligence is your responsibility. Better be sceptic and ask a lot of dumb questions! Don't trust people if there is no reason to. For the most part there is great continuance in people's behaviour. Frictionlesscoin hasn't yet produced anything valueable to people but a lot of hot air. My experience tells me that people's future performance for the most part mirrors their past performance. Also with all his past endeavours he convinced people successfully... I AM JUST OBSERVING.
And there is the incentive issue:
And what does he bring to the table? In particular what securities? He could just sell 90% of his shares if the shoot up (not expected if people on BTT see Frictionslesscoin is behind it; he really has a horrible standing). If he is brought in to make the deals with musicians the right incentives would be to pay him per deal he makes. This way is a horribly flawed incentive structure!
DON GET ME WRONG: I AM JUST TRYING TO PREVENT SOME UNNECESSARY DAMAGE. And we are sitting in the same boot.
Edit:
https://bitcointalk.org/index.php?topic=422309.msg4639088#msg4639088