Bitcoinsandiego:
The reserve is mostly for 3rd party development long term, not the founders, and really just enough for the team to cover the time spent and so the pace can be competitive. While you may believe no reserve/premine is needed with an ethereum fork, that could true if we are not producing much new content or planning on making it last a long time, or if we had an ICO or ninja launch instead. We did not. I personally think it is wonderful to try different things and see how they turn out way down the line. For example, we don't have any bad feelings for the other two ETH forks and we think they are also interesting experiments trying slightly different strategies. We think we have the best strategy of course, but we will also get to prove it out over time and others can see.
If you are talking about a project to last years and not a short term one, funding is needed or people just move on. Franko and I have a lot of experience with this sort of thing, knowing how much funding is needed for getting things done in cryptos and advancing, and what people generally ask for to complete additions. For the quality and amount of development we want to bring to the project, the reserve was carefully chosen based on that. Most of that will be connected to votes and a DAO, a decentralized autonomous organization. This is no easy undertaking and extremely time consuming, but if it is successful this could provide new innovations in cryptos.
I think price speculation is interesting as a trader and miner myself, but clearly if people bought low early on, or mined any time really, they made out quite well. I started mining almost 8 hours late dealing with discussions and working on various elements, only using 4 GPUs, and I mined about .4 BTC worth in a few days. This was actually the most profitable coin I have ever mined and I wasn't there mining at the launch. So I think Expanse is quite successful in that regard, for the miners. We have had an enormous amount of hash power. We quickly got on 4 exchanges, 3 of them major. Things are moving quickly.
I honestly think you need to wait a few weeks for any accurate price evaluations. Once we have the DAO and everything out there, proving with smart contracts exactly how safe the reserve is, and voting starts up, the rest of the key starting elements Dan is working on completed, and when new 3rd party devs start joining in, I think you will have a much better understanding of how long term we intend this to be.
Thanks for your kind response. Congrats on the mining profits
We are currently at ~45k satoshis as I predicted, so I would say now is in fact a good time to buy.
