How are you so sure that merchant will start accepting crypto? I mean look at the volatility of cryptos. Will they not face loss if suddenly a crypto which they accept start crashing or in other words, we say here dumping.
I doubt about the merchant aspect. Besides, any incentive to merchants for accepting crypto?
That is the beauty of BlockPay. The merchants do not need to worry about the market volatility since all incoming crypto funds are exchanged immediately to their local currency. The merchant will not keep his Dogecoin unless he really wants to. He has the choice. Most merchants, however, want to get the money paid out to their bank account directly.
Another important aspect is that we don´t focus our marketing on "Blockchain", we talk about "digital money" and "mobile payment". Blockchain is still scary for most business and we want to reduce their fears, not create new ones. We let business do what they can do best. We manage the rest.
The one thing I do not like so far is the "2017 2nd ICO" which basically caps the value on tokens at 0.0005
Seems odd to pre-announce a second ICO to begin with, but announcing a price is just strange.
I am hoping it's a misunderstanding of some form, because if ICO phase 1 is at 0.0002x and ICO 2 is at 0.0005 it makes more sense to wait. 2x isn't much to pay for validating a project
Edit: it seems I may have some form of selective reading disorder. The 0.005 price is for last phase of this ICO the way I re-read it.
Disregard my possible stupidity. I need coffee apparently.
Coffee is always a good choice. I could use some too. Please let me correct you here. The 0.0005 BTC are the initial price per BlockPay token for the ICO. In the Pre-ICO we grant you a special discount of up to 42% (0.000288 BTC). The value of the token will be decided once they are traded on the markets. If they exceed the 0.0005 or stay below will be seen.
Yes, maybe 2x isn´t much, but you never now with crypto. It is the wild west and anything could happen.
You promise the tokenholders that they will share in the revenue stream.
Lets say Blockpay becomes a huge success and you decide to sell the company shares the a new owner/investor. The new owner will not feel obliged to continue your promise to the tokenholders. Especially when there is no legal obligation.
So are you planning to compensate the tokenholders in case the company is sold?
if yes, how will you compensate? I would suggest a percentage of the selling price.
It is important that you make this clear now during the ICO, so we can make a transparent decision on how much to invest/risc
Cheers!
Hi Titan20,
that is a very good point. I have a very strong opinion about founders who just found to sell. I really dislike this ideology. What kind of value do you create if you just write up a business plan, seek some funding and hustle 2-3 years only to sell to a big corporation who cannot run the company without the founders? I am seeing that a lot with young business students who come to my monthly Startup meetups. They are founding companies with the clear goal in mind to sell to Google within 3 years... What kind of business man are that?
I like sustainable businesses and do not plan to sell anytime soon. Why sell a good running business? You can hire a good executive team and let them run the show. Rodrigo and I are here on the same page.
Short, we don´t sell. To calm your mind, in the unlikely scenario, I will do my best to compensate all BlockPay token holders in the best possible way. A percentage of the selling price should be the minimum.
I think we have to be clear here, ICO and Blockchain-based crowdfunding are new tools for startups like us to grow. We are all exploring the best strategies and methods to make it right. I am open to further discussions how to set better ICO standards and processes for many other great Blockchain ideas yet to come. I am promoting Blockchain technologies at every meetup I go, at every event I organize. That is 3 events a month plus big events like the Bits & Pretzels. I want to see more Blockchain-based Startups on the market.
And why do you sell coins instead of assets/shares like the OPENPOS shares on bitshares?
BlockPay tokens work like OPENPOS tokens. Just that OPENPOS is limited to all revenues from BlockPay for Odoo, BLOCKPAY token itself is open to all revenue streams of our company. Before we create a token for each product we build we decided it is better to set up a company-wide tokens and to let everybody participate.