I am a new member of the team that hasn't officially been announced yet but I now handle most things related to the business development of the Bitcore project. The 10% that is allocated to the development fund will be used to further Bitcore in every way with a small portion of it being used as compensation for our continued hard work. I can tell you that listing fees on exchanges, integration into payment processor platforms, and any other fees/cost associated with development are not cheap at all. I am not at liberty to disclose these fees but they would probably astound you if I did disclose them. The 10% we have taken for the development fund seems very fair and if you look at other coins we are right in line with many of them. The Zcash development team takes 20% of the mining reward in the first 4 years and then 10% moving forward. Even with Bitcoin, Satoshi Nakamoto has an estimated 980,000 BTC that was mined in the beginning. The reality is that if you, basically the community, wants us to become one of the major market players then we need the funds to be able to do so. I cannot talk about potential support for the coin in the future but I can tell you that we will try our best to make the project the best it can be. I hope this answers your questions and puts things in perspective. Have a great day!
IMHO , 1.6 Million BTX will be too much or too few will solely depend on where these BTX is going to be used ... If there is a clear information and goal/progress of the fund , I think nobody that truly support this project will have further more questions ...
Thanx for the quick answer, i appreciate it.
Just wanted to let you know how It could be percieved by potential investors looking in. Especially when there are 2-3 pictures of rockets and airplanes on every other page, instead of technical discussions or roadmaps. I know everything takes time, and we are still early in development and distribution. Just felt that i needed to voice these concerns, to make sure we are on top of everything, and that the community and everybodys investment is protected and nurtured to grow
And like oskarwu said. As long as there is a clear and transparent roadmap for the goal/progress of the project and the support fund ("support fund" actually sounded a bit nicer than "dev funds"). Then i think the community can relax and enjoy the ride.
Hopefully the coming news and information in the next few weeks will be positive, and put everybodys concerns at ease.