Some great questions regarding the CIF ICO coin distribution and payment.
Let me explain this - so we had a price guide on the front page of the website - this was to give people an idea of how many tokens they would receive. This was confusing so we actually took it down as it's not accurate.
This is how tokens will be allocated - currently there are 10m tokens available to purchase. If 2 people put 1 BTC in each, they would each get 5M tokens. If 4 people put 1 BTC in each, they would each get 2.5M tokens. Therefore the number of tokens allocated is entirely based on how much you put in vs. the pot.
Now - you may ask - well I want to know exactly how many tokens i'll be receiving. The answer is - it doesn't matter! Let me explain... If you there's a huge amount contributed to the pot each person will get less tokens (since they're divided up amongst more people) however the listing price will be higher (since the total value of the pot is increased). Therefore the less coins you receive - the more each one of them is worth. This will be translated into the listing when we go live during January - we chose to do this so we wouldn't have to burn coins, it increases our liquidity and... it's a carbon copy of what EOS is doing (which worked very well for them).
So you're on the right track.
You do need to download a CIF wallet to generate an address. You need to pick the amount you'd like to contribute (pick the BTC equivalent) and then once you proceed to the next page you can choose to pay with any Altcoin, ETH, ETH Token or BTC.
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I'm interested in investing but I'm confused about the price of the token and how to actually go about buying it.
Price Confusion
It seems price is quoted on the website as 1 USD = 500 CIF or 1 ETH = 870,000 CIF or 1 BTC = 6,000,000 CIF but it also says in the CIF Distribution document that tokens will be allocated based on available tokens and on first-come basis. Does this mean that the price of the token will depend on how many people contribute?
Price Confusion
It seems price is quoted on the website as 1 USD = 500 CIF or 1 ETH = 870,000 CIF or 1 BTC = 6,000,000 CIF but it also says in the CIF Distribution document that tokens will be allocated based on available tokens and on first-come basis. Does this mean that the price of the token will depend on how many people contribute?
Let me explain this - so we had a price guide on the front page of the website - this was to give people an idea of how many tokens they would receive. This was confusing so we actually took it down as it's not accurate.
This is how tokens will be allocated - currently there are 10m tokens available to purchase. If 2 people put 1 BTC in each, they would each get 5M tokens. If 4 people put 1 BTC in each, they would each get 2.5M tokens. Therefore the number of tokens allocated is entirely based on how much you put in vs. the pot.
Now - you may ask - well I want to know exactly how many tokens i'll be receiving. The answer is - it doesn't matter! Let me explain... If you there's a huge amount contributed to the pot each person will get less tokens (since they're divided up amongst more people) however the listing price will be higher (since the total value of the pot is increased). Therefore the less coins you receive - the more each one of them is worth. This will be translated into the listing when we go live during January - we chose to do this so we wouldn't have to burn coins, it increases our liquidity and... it's a carbon copy of what EOS is doing (which worked very well for them).
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How to buy
Clicking on the "Purchase CIF" link on the website brings up a screen that requires me to provide CIF Wallet address, email address and BTC contribution. I guess I'll need to download the CIF wallet and provide the address. Can I pay using ETH or USD?
Clicking on the "Purchase CIF" link on the website brings up a screen that requires me to provide CIF Wallet address, email address and BTC contribution. I guess I'll need to download the CIF wallet and provide the address. Can I pay using ETH or USD?
So you're on the right track.
You do need to download a CIF wallet to generate an address. You need to pick the amount you'd like to contribute (pick the BTC equivalent) and then once you proceed to the next page you can choose to pay with any Altcoin, ETH, ETH Token or BTC.
i can't see a download link for the CIF wallet, how do i contribute then?
Hi B,
Please note that we are launching new wallets which are compiling and will be available tomorrow.
Please note the address to download wallets is https://www.cryptoimprovementfund.io/software/
This message is currently posted on that page.
Yes - We're just in the process of coding an automatic swapping bot - when we have QA tested it we will roll it out. We will not list on an exchange until you have a chance to swap out your coins (for existing holders).
