Regarding how the developers get the ICO fund, I would suggest a weekly payment based on the quality of update and github submission.
Meanwhile, if the release of the BitBay wallet is nothing but a simple clone of Blackcoin and BlackHalo, I don't think it could worth more than 10 BTC.
Of course, more BTC could be reimburshed for reasonable advertising cost, etc.
To make it simple, no work no pay. If the team runs away, the rest of the fund could be returned to the investors or used to hire another team.
If all the fund is given to this team who just produces a simple clone of Blackcoin and BlackHalo, I believe the team might have a strong motivation to take the money and run away. It is not difficult to produce a clone of Blackcoin and BlackHalo (which just worth 10 BTC), but it is really difficult to finish the rest of the roadmap (2990 BTC work).
Not difficult hey?! You go ahead and write BitHalo from scratch. When you finish you will know that the price for its is easily 100 BTC. That software is mind numbingly complicated.
10 BTC is nothing. Thats not even enough to pay for a month of bills in the US. Lol it took me 4 months of coding just to release my beta. And then we worked our ass off for 4 months marketing flying all over the planet and you think its 10 BTC?
If you think its so easy, go write a Halo clone and do all the legwork to grow it for a year and sell it for 10BTC.
Whilst i agree your work is worth easily 100BTC+, you have to remember that you are not selling, you are allowing them to use it right? I like BC and hope that you will get a large chunk of btc for letting them use it. The more BTC feeding back to black coin is good.
HOWEVER his point is kind of valid regarding slowly releasing funds in chunks for work produced or at the very least a ledger showing what the funds are required for. These ito ico if run properly can produce the results they want whilst giving the investors some kind of assurances.
10 Btc is far too small but 100 BTC per week is getting rather more reasonable. If a large chunk of work was produced up to 250BTC per week could be released. I mean the ledger should be able to show where the funds are being used. I don't think that is too unreasonable.
Yeah this makes a lot of sense. To be honest, i was just a total mess total my nerves were wrecked hoping everyone would be honoring their words. But everyone was totally punctual, I'm meeting one of the members in person in a couple weeks and could not be happier with Bays performance and that of the other members. So we shall see how it plays out. We are making an operating budget and dont forget, we need that buy wall too. So its just a matter of being pragmatic. How many devs can we prepare in time, who works on what. Most likely I'm going to draw out an entire plan of how we structure the next month and what tasks to delegate.
I totally respect your work of BlackHalo and Blackcoin is valuable too, but what I meant is that just a total clone of BlackHalo and BlackCoin will not worth 3000 BTC, but just 10 BTC.
I have looked at the released wallet and it is no more than a clone of BlackCoin, right? This is not satisfactory for the price of 3000 BTC. Even with your demo video, it is just BlackHalo at least for now, right?
Again, if bter gives your team all 3000 BTC based on the only combination of BlackCoin and BlackHalo, I will be pessimistic about the future of BitBay and out.
I am sure that you might be a good developer, but I don't trust the rest of the team. They might just want their share and run away, and you can't really control them, right?
