Topic: [ANN][ENVY] Envy Coin | ICO closed - Did not meet Min BTC Refund will start soon - page 8. (Read 43534 times)

It's a gray area and I've been looking into it and gotten a lot of mixed opinions and just don't want to stir any waves. I know coinpayments.net sold to a Canadian company because they didn't want to deal with FinCEN but then for Envy you're not doing the same thing.

I know there is a lot of concern that this is just buying shares in a cloud miner so why would you not just go buy them yourself?

I know a lot of this is because we have focused so much on the profit share program. The reason for this is this is a new concept for most people and the whole reason we need ICO funds. Remember if you have Hashlets or other cloud miners you will never be able to buy a product with those. We fully plan to make it so you can buy products with Envy. For those who are concerned it is just buying shares of a cloud miner I ask you to think about what if DOGE or some other crypto would do this on a similar scale to their size? Would people be more likely to hold DOGE if they were paid a certain amount of satoshi’s to hold it? The only way you could make this purchase would be if people donated the money or people invest in the new idea. Since I do not believe people will just donate to this project we need investors. The investor is going to want to be rewarded for taking their risk. They will receive their coins as compensation for the risk. These coins will have more features then just profit share but the whole reason we need the fund is because we need to fund the purchase of income providing assets on a large enough scale to make a difference.

Amazing, it seems people like hype more than facts. Here is a dev just saying it straight out, no bullshite, and BTC is trickling in.
Other devs have used heavy marketing and hype, and everyone jumps in. THIS dev is stating his business model is to be a coin CEO
and make the best returns on your investment. I believe he can deliver, hope enough investors agree and put up the BTC for Envy 

PS. Brian if you have heard different please let me know. And I will look into it. Because Like I said they are not involved in crypto law. I am not sure what they looked at and if they looked enough into it. But what they told me made sense according to what I know about crypto and the way the Government perceives it.

We are still a crypto currency we are just taking a different mindset to it. Until crypto's are classified as stock and these are classified as divided we fall under the same rules as all crypto. We are not setting it up as a business I am just going to do what a CEO would do for their stock holders. Maximize profit. From the way it was explained to me (family member is lawyer but not involved in crypto but took a look).  With an ICO (or any trading on the exchanges) you really trading one property for another. As far as they could tell crypto is like if you traded your TV for a XBOX. We are just trading out goods with each other. If this is ever change (They assume it will) there will be a lot of things that have to change in the industry. There are so many regulations the exchanges and those who use them would have to abide by. They of course said this was not official legal advice because they are not involved in crypto law. But by taking a look at things as far as they could see from a lawyers point of view we are still fine. So take what you will from that. What I took was that we are still the Wild West. I could say I am paying you dividends but we are technically not consider able to pay dividends. You guys are giving me your TV and I will be giving you guys an XBOX and then an Xbox game every week. Now of course replace that property with crypto property.

OK, I think this will be my last question for today  Is there a concern with FinCEN and SEC or have you prepared for that since this will dabble into both realms?

No problem. Yes I will treat them as stock holders. I view crypto currencies as just more than a currency. They are a currency because you can use them to buy things. But they are also like stocks because people generally want the value to go up and want the developer to continuously innovative and advance the coin forward. This is more like a company. I want them tied together with ENVY. I want it to be used as a successful currency where you can buy anything you want but I also want it to be like a successful business returning the maximum amount of profit back to the holders.
Just so everyone is clear these are all my personal beliefs. Earlz will have to speak for himself on something like this. That is why I used I instead of we. (Of course I do sometimes when it is official Envy stuff)

OK- So you will treat the coin holders as stock holders then. I'm glad to hear that and thanks for everything.

No worries. I didnt mean to sound like I was attacking back. I just wanted to make sure for everyone that it was perfectly clear.

If I want to drop the project I will discuss it here. If someone is willing to take it over I would turn it over to that developer. Obviously we will need to vet the person taking it over. If no one is willing to take it over I would sell everything and return those fund to coins holders.

Now with that said I do not see that happening anytime soon. I am still there at Fire. So as long as we meet the 100 BTC min this coin will be live and I do not take my responsibilities lightly.

didn't know that, i am just put off because of the coins have not done well despite your best efforts. wasn't attacking your character

Yes if the min of 5 million not sold everything will be refunded by having a buy wall placed on bittrex. That is why coins are not allowed to be moved around. I know asking for the amount is a alot. We have seen numerous coins offereing less sell more.

So here's another question: If one day you feel that the project is going nowhere and decide to drop the ball, what will happen to the cloud mining shares?

What about my history? I took over Firecoin on July 19th after the previous developer dumped the coins and then left the coin for dead. If you have ever taken over a dead coin or been a part of one it is darn near impossible to get new people interested. We are coming up on 3 months later I am still there and we have picked up volume from when I took it over. Yes it is still very low but it is still kicking. Ask those members what they think about the job I have done with Firecoin.

Tradercoin I launched it telling everyone from the beginning that it was an experiment. My belief is that most crypto currencies are the exact opposite of what they claim they want. They all talk about being decentralized but yet all revolve around 1 developer or development team. If they leave the coin dies. That is more centralization than most Fiat currencies. So I launched it saying I would not further develop unless community members pitched in and helped develop the coin. I was open and honest the whole time. The majority of the community did nothing. They wanted me to make them money and that was it. So it showed me a lot of people only want a developer to make them money. So that is what the plan is here. There is no way around it, this is a centralized coin. It will revolve around my team and what we can do for it. But I fully believe that of you invest you will make your money back as long as you do not sell right away for a loss.

wanna invest as i could make something but dev history is putting me off

Invested... looking foward to it

if you guys can put together some graphs or something showing what cloud mining income can do for the price and some other informaitive things about how its going to work we can get more people interested. people have short attention spans so if we spell it out for them and get some people i know tweeting it out it would help.

I really hope you are wrong about that.  I love the idea behind this project and we got a good and trustworthy guy behind this, that seems a near impossible thing to find in this crazy world!

I do think it was a mistake to not heavily market this a few weeks or more before opening the ICO with heavy goal it now has!!  I know the vast majority of people will wait until then end of ICO is nearer to invest as there is no point not to so the wise people will keep their coins in play until the last minute.

I think the only way to hit this high of a goal is to build up interest long before hand.  Hopefully I am wrong and this works out!!

So basicly, if 5m arent sold nothing happens and a buywall will go up, basicly refunding everyone - correct?

I mean, we are talking about 100 btc here - i highly doubt this goal will be met, vex had a ico volume of 9.3 btc, envy is at 6.5 btc after half the time - too bad

I do like the concept and idea...

Thank you for your kind reply..I went over to Trex and I think I know one way how to make things boom boom, sent you a reply take a good rest and we chat tomorrow. I am also on skype too, so if you like we can skype chat too. .