Topic: [ANN][BRK] Breakout Coin | Sale June 13 2016 | Multicurrencies | Smart Contracts - page 41. (Read 243364 times)

You are effectively showing me Plan B of a plan that was already changed and modified from an original plan A , saying that because someone has said it that it is defo happening especially since a week or so in it was completely changed , doesn't hold as much credit as you think it does

They wanted a min of 700 btc, they also said there would be a beta or at least a demo and previews of the platform not just poker screenshots. which clearly hasn't happened and which has put us in this situation in the first place, lack of interest or funding, plus the incredibly steep decline over such a short amount of time, while is a good tactic to force people to put money in quicker rather than later, it has already failed on 2 different plans put into place, what makes you think 3rd time is a charm?

What if they don't manage to make the 700btc in the next 5 days that you suggest? oh i know another 5 day IPO this time 1000 coin/berg for day 1 and 800 for day 2.....4th time has to work



you also forgot "E.  If the total amount of btc raised falls short of the proposed 700 btc amount, we will raise the remaining amount through a "private" sale."

that means not another public 5 day IPO sale

you are choosing 1 thing they said in a list of 7 because it fits your idea while ignoring other things they have mentioned that directly conflict with your idea.

"private" sale, yeah right. Good thing they used the "
I'm feeling like they are keeping the coins for themselves.

BRO Devs already stated that "Remaining coins will be sold at a later date to be announced by Breakout Coin on this forum":


Since only 275 btc has been raised so far, I'm assume Devs wish to at least raise the remainder of the 700 btc, through that coin sale by enticing potential investors on the sidelines with Genesis Breakout Coins + Bergstake AND more importantly, demo releases of Breakout games to raise investor confidence.

As I said previously, all remaining BRO + Bergstake after this new phase sale,  should be divided among ALL investors of both phases, according to the amounts they invested, this way the entire 10 million Genesis Breakout Coins + Bergstake goes to investors in both ICO phases, as originally intended in OP.

 

By current valuation , even if there was a demo of a working product at the maximum benefit of investors of 3000 coins per btc, you still have to sell over 2300 BTC to sell the berg stake/coin....in 1 days of IPO because after day 1 , there would need to be another 15 or so % being added on the total to sell out.

Not only that, you would essentially after changing the structure of the IPO previously before and now for a second time, saying This is the pricing system which in 1 day would need 2300btc + just the sell the rest of the bro coins , but after this stage everyone gets a share of the remaining coins. which is just endless complexity into what was an otherwise simple distribution method to begin with.  

Bu then again it was under my understanding we would of viewed and been able to test the beta by now, which would of brought in the influx of money .....which hasn't happened and i sort of agree there needs to be more money in the project than how much is now, but i thought we would of had something to test and play around with now like it was suggested at in the beginning.

As much as current investors would love to have 8M divided among them, I think to be fair to both current & potential investors on the sidelines, and to allow BRO Devs to raise more funds, the BRO team should first release some Breakout games (at least a Demo) to raise investor confidence, then once major PR has been done, they should host a new 5 Day coin sale to give people on the sidelines ONE LAST CHANCE to obtain BRO WITH Bergstake.

This is what I propose for the next phase, but they should change it as they see fit:

Day 1: 3000 BRO + bergstake per 1 btc
Day 2: 2500 BRO + bergstake per 1 btc
Day 3: 2000 BRO + bergstake per 1 btc
Day 4: 1500 BRO + bergstake per 1 btc
Day 5: 1000 BRO + bergstake per 1 btc

After this new 5 Day sale, all remaining BRO + Bergstake should be divided among ALL ICO investors according to the amounts they invested, this way the entire 10 million Genesis Breakout Coins + Bergstake goes to ICO investors, as originally intended in OP.

Then once Breakout games have been fully tested and released, unleash this monster coin on all major exchanges and watch this baby rise to Top 5 on Market Cap list.

what i was suggesting is pretty much exactly what you wrote "As bitarri said destroying the unsold 8M is not good at all and would be much better to distribute amongst ICO investors. But looking at the long run its better they raise more BTC and more people gets involved in this. This is why ICO was started in the first place. "

distributing the funds to ico investors....................................

Ha, good one!

Barabbas,
I agree with you on that. I just wanted to point out that if you are starting the business and targeting investors with BTC, than you should listen to them, no matter how old they are etc.
And yes BRO team needs money no doubt here, but they wont fail because of lack from this ICO.

Anyway, i believe BRO team will make wise decision. As bitarri said destroying the unsold 8M is not good at all and would be much better to distribute amongst ICO investors. But looking at the long run its better they raise more BTC and more people gets involved in this. This is why ICO was started in the first place.

Yes, a plan should be in place to prevent the consolidation of stake into a 50+% holding.

One way is to award devs the coins but to sell the Bergstake in a separate public offering, allowing ICO investors to keep the Bergstake they have because they have already bought it. It's not a good idea to give the devs 50+% power over the blockchain, no matter how well intentioned they might be at this stage of the coin's life.

This is the main reason why Bergstake should not go to private buyers. If they have better knowledge of the gaming platform than public buyers, then they could get a better much better deal if risk is factored in. There would be a strong incentive to accumulate as much Bergstake as they could, simply for easy profits.

Right now risk is very high. If a platform becomes available between these public offerings and a private sale, then the risk plummets. You can put numbers to all this.

When I bought, I felt like the chance of these developers delivering a working platform was about 15%. That means, to break even, I have to feel like the ROI is going to be at least 667% given a working platform. That ROI includes the value of the Bergstake for several years. If I expect the value of the coins themselves to increase 4 times, then the Bergstake must be equal to 267% of my investment. Remember that is to break even given my risk estimation.

If the platform is working and provable, then the chance for break even just on the value of the coins is going to be 100%. That means a private seller can buy coins and stake and then sell just the coins at cost for an immediate 267% profit in Bergstake.

The BRO devs need to think about these issues carefully when deciding how to handle unsold genesis coins.

+1

Announcing that the berg stake will be entirely shared among the investors in the IPO phase would increase value to holders and give added value to people even buying in now, getting 3000 coins and a share of the total bergstake like it was going to be like before would give people a better reason to buy in now

Agreed, destroying the unsold 8M is NOT an option since the Devs share of 2.5M will then account for more than 50% of Bergstake power.

Unless there's a way to distribute the Bergstake through a coin sale hosted by an exchange, the unsold 8M should be distributed to investors in the current ICO, according to the amount they invested.

After all, people still have another couple of days to invest and claim their Bergstake power.

The length of the ICo is irrelevant although making it a month long doesn't represent any visible advantage over 2 weeks or even one week. But yes, following pleas by 16 year-olds, or homeless, for that matter, MATTERS a great deal when you are trying to launch a business. It matters because following their pleas or advice is a recipe for disaster, on ANY business, for obvious reasons. And no, it isn't true that the devs of BRO don't need the money. Of course they do. A lot of it. Minimally, 700 BTC, ideally much, much more, like 10,000 or so which was the top of the expectations.

Consulting with the potential community, is wise; trying to please the ones that post more and have no record of any success -or common sense- is simply not wise. Hence, the failure.

Even if you take into account all coins bought currently are at the value of 6600 (which they are clearly not) that gives investors around a max of 2 million coins , now cos everyone didn't buy at the 6600 rate it would be even less than 2 million at current, if they destroyed or kept the berg stake , it would give them more than a 50-60% hold on all earnings from berg stake if they are getting the 2.5 million berg with their 2.5 million coins

It is true that breakout was following directions from a majority of people in this thread, but the step down investment plan has left original investors worse off than what was originally put forward as an idea, of 10 million divided by investors according to the amount they invested.

Now after that there might even be a chance that the dev's will now own more than 50% of the future earning potential of the coin instead of around 20%. it might not go down too well with some of the investors

Especially without Bergstake if the coins are sold in such a way that the sale price would be less than any first-phase ICO price (less than 3000 BRO/BTC).

Well yes it was pretty bad timing for this ICO and probably ICO on exchange like Bter would build better trust and make more investments.

I agree pleasing everyone isnt good strategy but BRO team didnt try to to that! There was majority of people agreed with decisions made, and it really doesnt matter if they were 16 years old or homeless, for that matter. Whats important is that in those circumstances there wasnt many options left and saying things like 1week ICO would make soo much more, is just assumption and nothing more. Every project is totally different in crypto space. You can hardly say anything in advance, but from the initial response/investments in BRO i think it was clear, there wont be a lot BTCs gathered, so i dont really believe any small change would make much bigger impact.

Anyway, judging project of this size and saying it will be a faliure because they havent gathered another 400BTCs is just funny. I mean there are people with quite a few bucks behind Breakout gaming, so i dont think 160,000.00USD means a  failure for them, considering multi million dollar business they are getting in.

Breakout Gaming is clearly well funded already, and IMO the point of this ICO is not to scoop money from investors but rather to ensure a wide distribution to secure the PoB network, which can't be done by seeking funds from a couple of angel investors. (The wider the distribution, the more secure the PoS networks)

Devs said previously that Breakout Games are in "final stages of completion", so they're certainly not waiting on ICO funds to launch this project:


As I said before, the remainder of unsold BRO, should either be:

1. Offered through 4-5 day coin sale on BTER or BITTREX, (even without Bergstake)

OR

2. Destroyed and removed from the Max Supply of 19.5M

Either way, the official launch shouldn't happen until some of Breakout Games are released (at least in beta) and tons of marketing is done to ensure a wide media coverage.

The problem here, as usual in this type of thing, is trying to please everyone. Which is simply well-intentioned... but ultimately just dumb. No one in its sane mind, when dealing with any kind of business plan, would ever listen to people who still live in their parents garages at 30, that are high on bad stuff most of the time and that see in crypto some kind of anarchistic release of their many failures... The BRO team had a relatively good, thought-out plan: Sell the project and let the market price it. Only flaw in that plan, of high significance, was trying to sell simply an idea, lacking even the most minimal platform to show what they were capable of. That flaw remains and would haunt any selling initiative, of course, but keeping the original plan -which is inevitable, by the way- would at least have reassured customers -buyers- of what exactly they were buying.

As it stands, it would seem that Breakout Gaming will "buy with one hand and pay with the other" -meaning instamining the whole thing and getting over 90% of the coin for free-. And, obviously, people is not thrilled.

In 3 more days we will be quite [possible at the doom, rather than the dawn, of what potentially would have been the smartest crypto project to date. Instead, it could quite possible become a total mess.

You can sell the bro afaik

Ill agree there is a real operation(Not a scam) behind this with celebs and everything BUT , u have to agree they made a total mess of this ICO from changing just about everything in the middle of the ICO to this completly squewed selling structure they have now.
I still dont know what will happen to the coins left over,people are saying Second ICO to sell the rest without bergstake but they just dont know.
What does not come of looking professional to me at all.(Dont get me wrong ,I still believe there is a Pro team behind this operation just not "pro"in crypto and its community) and thats a big part of why their falling so short of their ICO goal IMO.
I think they should have spend an extra couple of K to rent a dev from DRK or VTC (or some other well established coin) to help them before they started.
I dont like repeating myself but where is the value add in the past month that makes 6500 to 3000 realistic ?

In the current struckture they have created , it actually motivates people that have bought in to not have anyone oneelse buy in.
Angel investors will make up the missing money  EA  the less bergstake is sold the bigger your piece will be.

Im just befuddled why they would do it like this.

If this contains factual errors (not spelling ones) please enlighten me.