Hello,
First off nice project but, As a big ethereum ipo investor I can tell you that you are making some mistakes they tried to make and some new, if making that comparison.
1.You are rushing your ICO! Ethereum tried to rush their IPO in february 2014. This would turned out not well. Very good they listened and delayed it for couple of month. I think you should delay your ICO at least for another month not a week as you did. This way you will get much more media attention and get exposure to more potential investors.
2. ICO pricing / distribution model. Ethereum price was 2000 ETH for 1 BTC (1BTC at that price was around $600) this means around 30 cents per ETH. Your price is 1800 BCD for 1 BTC at current price levels of $1500-1600 that's around $0.85-$1+ for every BCD depending on when to buy into this ICO. This is a hard one to swallow considering the following facts:
a. The BIG difference is that Ethereum most of their IPO supply gave to purchasers 83.5%, 8.3% to Early contributors and 8.3% long term endowment fund + You had mining come into the supply equation gradually!
You can look at the details here:
https://github.com/ethereum/ethereum-org/blob/master/public/pdf/TermsAndConditionsOfTheEthereumGenesisSale.pdfBitCAD instant supply is 100Million from which you allocate only 51% to purchasers. The rest could be considered a free premine that will be given on different conditions to different parties based on your discretion. This is NOT good at all.
b. You aim to a theoretical sell of 51,000,000 BCD / 1800 for 28,333 BTC @ current $1500 = $42,500,000 ? This with a rushed launch? Suppose you sell 25,000,000 BCD...the rest you write that you reserve the right to sell privately to institutional investors. Great! At cheaper price then ICO price? Can you guarantee us they will not receive a better price then ICO investors so these institutional investors don't sell their coins or manipulate the price?
This is very serious you are talking about big money here but as it seems the way you handle this is very unprofessional.
3. Is your project open source? If not this complicates the matters. Are we talking about a privately owned network for public use?
I'm sorry to say but unless you delay your ICO and change the distribution model to something more palatable I will not invest a single $ in your ICO although I would be willing if the above is addressed.
Have a nice day!
p.s Get rid of that logo with the Illuminati eye, it's doing you more harm than good...
Thank you for the questions! It help us to growth more quickly. I'l try to provide a reasonable answers.
1. You absolutely right in it. We discuss about ICO start date in our team.
2. BitCAD is a public-benefit organization. Its staff operates the smart contracts systems, coordinates allocation and assignment of unique identifiers, accredits delegates of industries, and helps facilitate the voices of volunteers worldwide who are dedicated to keeping the Smartnet secure, stable and interoperable. BitCAD promotes competition and helps develop Smartnet (Internet 2.0. The next stage of the Internet evolution marked by decentralized networks and worldwide smart contracts integration) policy. Our aim 28 333,(3) BTC - such quantity is necessary for solving the problems of a legal vacuum cryptocurrencies and smart contracts in a global view.
a. BitCAD allocate 51% of total supply on ICO. The rest part will be given on different conditions to different parties based on multistakeholder model discretion, internal BitCAD governance system.
Each participant can directly influence to the development of the project and the development of BitCAD policies, procedures and business processes. BitCAD community is interested in hearing the opinion of everyone.
At BitCAD, you’ll hear a lot about our bottom-up, consensus-driven multistakeholder process. This means that every individual involved in the process has a voice and can be heard. Every viewpoint added to the BitCAD community makes our decisions richer.
A good example of the necessity for this governance model can serve a potential abuse of the smart contracts and DAO's possibilities with negative intent.
BitCAD's policy and procedures development process is based on a multistakeholder model.All over the world, each participant can create a local organization or structure of BitCAD. The ultimate goal is to organize at least one structure in each country.
A vital element in BitCAD's processes is the opportunity for public comment on each substantial piece of work before it is considered for approval. These topics can be operational (such as budget or strategic planning), technical (such as security reports and recommendations) or policy-oriented (such as Bylaw changes).
The following principles guide the public comment process:
- Each item posted for public comment is available for a minimum of 21 days.
- If comments are received, then at the close of the comment period, a reply period begins, lasting a minimum of 21 days.
- If no substantive comments are received during the comment period, then there will be no reply period.
- During the reply period, participants should address previous comments submitted; new posts concerning the topic should not be introduced. When constructing replies, contributors are asked to cite the original poster’s name, comment date, and any particular text that is pertinent.
b. Remaining, unsold tokens from the crowdsale budget will be hold and sold privately to institutional investors or on the next crowdsale. In that case, the best price maintaining guarantee can be influenced by the early ICO participants themselves.
BCD tokens are proof of priority membership in the BitCAD’s Board of Directors. Give the right to access to participation in profits and voting rights, commensurate with the value of tokens. Owners of tokens can directly participate in the development of BitCAD policies, procedures and business processes.
Good luck!
p.s. Illuminati eye just a modern illustration of multistakeholder model, not our logo
