Personally, I would feel more comfortable if the escrow held the funds until after the coins are released. If they aren't going to be moved until later after the coin release what is the point of releasing them earlier?
I know that the team intends to release legal paperwork and at least one identity - that of the community manager - but, I fear that there may be some "unintended delays" with the above. Essentially, there is the possibility of pushing back the few things that would make it more legitimate till after escrow is released, then never release anything - coins, IDs, or registration forms.
Of course if someone one the team comes forth with their ID and the company actually is registered then there is perhaps legal recourse if they don't uphold their end of the deal. And from the sounds of it, that will happen this week.
However, the work done thus far (Parts I-III) doesn't prove they will continue developing the project. Worst case scenario, they could never release anything on incorporation, or identities - release some code that they've done, and then disappear after the funds have been released without ever releasing the coin.
Right now the promises to be transparent regarding IDs and incorporation sound great, but I am still skeptical as there actually has been no evidence they are actually doing it from what I have seen. It isn't a verifiable story at the moment.
Asphyxia, do you or Notorious have anything that you can show us right now to prove that you are actually going through with incorporation, etc? Correspondence? Anything? I fear that you can perpetually delay these matters and then release some code to the escrows and have them release the funds to you for a few months work and then n'er return.
The mantra of waiting to invest in the second round does nothing to assuage fears if the coins aren't even released till after escrow is released.
As always, I appreciate your time and efforts to respond.
~ The Hive ~
I know that the team intends to release legal paperwork and at least one identity - that of the community manager - but, I fear that there may be some "unintended delays" with the above. Essentially, there is the possibility of pushing back the few things that would make it more legitimate till after escrow is released, then never release anything - coins, IDs, or registration forms.
Of course if someone one the team comes forth with their ID and the company actually is registered then there is perhaps legal recourse if they don't uphold their end of the deal. And from the sounds of it, that will happen this week.
However, the work done thus far (Parts I-III) doesn't prove they will continue developing the project. Worst case scenario, they could never release anything on incorporation, or identities - release some code that they've done, and then disappear after the funds have been released without ever releasing the coin.
Right now the promises to be transparent regarding IDs and incorporation sound great, but I am still skeptical as there actually has been no evidence they are actually doing it from what I have seen. It isn't a verifiable story at the moment.
Asphyxia, do you or Notorious have anything that you can show us right now to prove that you are actually going through with incorporation, etc? Correspondence? Anything? I fear that you can perpetually delay these matters and then release some code to the escrows and have them release the funds to you for a few months work and then n'er return.
The mantra of waiting to invest in the second round does nothing to assuage fears if the coins aren't even released till after escrow is released.
As always, I appreciate your time and efforts to respond.
~ The Hive ~
In regards to your opening point, at that point the criteria for release will have been met. The blockchain will be released publicly at the end of the crowdfund (the escrows can verify there is one simply by running the wallet themselves since they'll have access to the private github) and we'll begin the exchange listing process.
Spoke with Notorious, he's going to be getting me a copy of the emails/pdfs we currently have in regards to filing for registration with sensitive information censored. Once it has been actually processed by the government, we'll be able to post more information. For a lot of people, this probably won't be enough since people can just claim it was photoshopped or something but in regards to the CMO introduction I've confirmed we can set a date on it and it will be done before March 8th.
