I am not sure if it´s a good idea to sell only 10% and put 90% up for forging.
First question, will someone hold the 90% or is it hardcoded?
Hold by devs --> no go
Second. Aren´t their incentives for forgers due to payment fees?
Most other coins use this fees as incentive.
Third. Why do you need brokers? Just for the people who doesn´t want to mess around with cryptos? Cause the usual cryptouser can buy it on exchanges, isn´t it?
Another dangerous point. The companys will be very cautious about the volatily of GDC. So when they want to decide if they will buy a hardware box or not, they want to know if they yearly costs remain at 5$ or not, cause if they pice rises they are forced to buy GDC at a higher price or throw their box in the garbage.
So how can the price remain stable? Not possible for a cryptocoin.
Thank you for your posting your view. It helps a lot and your opinion is very much appreciated.
I can confirm that the developers will have zero GadgetCoins. To keep the coin distribution transparent the software development, hardware engineering, sales & marketing team will not receive GadgetCoin for their work. You will be able to verify in the blockchain and the rich list at the start whether or not the GDC Foundation owns all coins. There won't be any hidden coin distribution.
The 90% remaining coins of course wont be hard coded anywhere. It will be added gradually to the supply via forging and staking to increase the coin supply to 10 million by 2030. Just as with any other topic, we are willing to listen the community about whether or not this is a good idea.
As we said in the description of the Proof of Consensus protocol the network fees will be distributed to the community via their transaction processing wallets. Again, let us know please if you are happy with such a policy.
We have been approached by stock and currency brokers who think their industrial and hardware related clients will be very interested in GadgetCoin and they they want to sell our coin to their clients. Many investors outside crypto are very interested in digital currencies, but because of the Mtgox and Mintpal fiasco they would never buy the coin from exchanges, but they trust their broker. We thought it would be a great opportunity for GDC Foundation to generate revenue and build relationships with angel investors. Such a sale will be transparent and in the blockchain. It would be prior to the release of the software and wont interfere with the coin trade on the exchanges. The buyers aren't P&D groups but institutional investors who are willing to hold the coin for a long period of time.
As for the price, the $5.00 price tag is a rather arbitrary number. The constant number is the $5.00 yearly network fee. We think the network fee fee should be around $5.00 per year per hardware module. If the price of GDC drops to 0.5$, then the hardware operator will have to purchase 10 GDC per year. Consequently if the price is $10.00, then the one year network fee will be 0.5 GDC. We can also adjust the network fee, the $5.00 per year is an initial speculative price. We have described this pricing policy to a few hardware integrators and the reaction was that this would be satisfactory to them.
Please let us know what you think.
