because some people are able to type FUD, but clearly unable to read.
WTF @MINDRUST, can't you read???
It doesn't say 3 years it says 5 Years !!!
I've just started to look into this so I'm not sure yet what to think about the project as a whole. But, I'm not concerned that the team behind gets 20% of the Block-Rewards for some years. Let's think about alternative ways for them:
1) To work for nothing
2) To raise money - doing an ICO.
I believe nobody can or should blame them that they don't want to work for nothing. If we think about the question if an ICO would be better: I personally don't believe that. Since the Dev's are rewarded in BEAM it's also an Incentive to keep it up while ICO-teams get (often) millions first and usually in BTC or/and FIAT etc.
And if we calculate how much money this 20% are:
Edit: *
If my calculation is correct, they get 16 BEAM out of 80 that are mined in every Block in the first year. Block-Time: 1 minute.
That would be 16 * 12 = 960 per hour * 24 = 23040 per day * 365 = about 8.4 million per year
If we take the current price that would be about: $4.7 million
After the first year mining rewards will decrease and it becomes harder to calculate. Of course it can be much more if the price rises, but that's true for the miners, who keep 80%, as well.
My point is: Let's say they would have done an ICO and let's say they would have gotten $10 millions... I don't believe that would be better.
*Edit: In my first version I had a wrong calculation because somehow I've misread the Block-time and believed it would be 5 minutes. It's only 1 minute and that changes the outcome significantly... I've corrected the calculation but didn't change the text around it but I'm not totally sure about it anymore.
