Vitalik said they can make a go of it with only 500 BTC raised. If they raise more than that, they have plans on how they can use the money to further their ecosystem. However, there is absolutely no way they could ever spend more than 30,000 BTC, so they are capping the investment at that level.
There is a difference between asking for a certain amount of money ("This IPO needs to raise 500 BTC or we're calling it off") and CAPPING the amount of money that can be raised. Vitalik's target for the IPO is 500 BTC--which is $400,000 at today's exchange rate and implies a $600,000 market cap with the premine. Now if they raise more, they have plans on how they can spend it (bounties for a better PoW/PoS system, application writers to get a jump start on the ecosystem, etc.), but they don't actually need one penny more than the 500 BTC he has stated is a minimum.
With respect for the guy who used to work at Goldman Sachs, my first impression was "Good...GS doesn't hire idiots." I'd be happy if they had ex-NSA guys working on the cryptography, ex-Goldman Sachs or Chase guys working on the financial markets, ex-NYSE guys working on the automated exchanges...the key word in each case is "EX."
No it's not. You've just made up the "EX" part.
Other than I completely agree with you - It is REALLY encouraging knowing that some non-idiots are working on 30,000 BTC project.
What more could we ask for!!!
Here everyone.
We have EX Goldman Sachs, non-idiot types. Give us all your money, you know it's all good.
Besides we also have 19yr genius, and you know in your heart that his motives are scientific and pure.
What better recommendations do you want?
Do you want to be left out when he finds holy crypto grail? OFC NOT
PS
[sorry for sarcasm, I know its not the best form]