I appreciate the thoughtful comments, I really do. There are obviously no guarantees but I can tell you that SNF is well funded and will be fully disclosed in our annual filing since it's a non profit. I don't take any salary or compensation from SNF either.
What I hope you appreciate is that unlike most devs I'm NOT anonymous --
http://linkedin.com/in/dvducciniI hold a Masters in Software Engineering and an MBA ;-)
In the interest of transparency here is the rationale for the 1:5 offer...
Here's the math behind the other swaps:
RATIO X 2GIVE %
CAPT 2,334,735 1:5 5 11,673,675 2.3%
PMP 1,168,921 1:10 10 11,689,213 2.3%
WATER 574,398,103 50:1 50 11,487,962 2.3%
KARMA 71,636,764,065 10000:1 10,000 7,163,676 1.4%
The initial 1:10 on CAPT was based on a flawed understanding of the total moneysupply. (EquaMobi thought there were around 1.2 - 1.6M coins.) All the other swaps we have done have targeted a 2-3% total coinsupply. KARMA is junk and keeps kicking out 10K coin blocks so there's a lower premium on that due to the ridiculous number of coins
The reality however is that SNF doesn't have all the 500M coins -- the bulk are in Bittrex and other users. We only have so many coins to do these swaps with and for the time being we are only staking on our donation wallet.
At 2-3 % assuming we even had all the coins means we could do 50 coinswaps total -- in reality we're going to end up with around 10-15.
Our CAPTcoin wallet is up to around August of last year so it's working as fast as it can to sync with 4 vCPU's and 4GB of ram.
You've got some time to think it over ;-)
-dvd
I was originally told that there were only 1.2M coins in circ, hence the initial offer was based on that date point -- there is almost twice that amount....
2give has a supply of 50M, hence a ratio of 1:10 is still a good deal...
Consider that not only is CAPTcoin not actively developed, it doesn't have a block explorer OR any means of exchange -- and what do you have?
a block explorer is trivial to set up and capt is listed on both cryptopia and yobit
The fact of the matter is, SNF only has so many coins to do swaps and it's not like we're getting anything of value out of them -- just mindshare -- and likely not much of that since a high percentage of people immediately run off to an exchange to cash 2GIVE out for BTC.
while i do some trading, i never dump coins for a small buck. as a fact i still own 34k capt and 395k 2give...
At the end of the day you either want "a slice of the watermelon" or "the whole grape" ?
just a (fair) big enough slice since nobody can assure me that 2give won't be in the same situation in a couple of years...
Think it over...and when we get a working wallet online we'll open up the SWAP and you can decide privately if you want something of value or not. This swap offer will not be open forever. We just release our RC5 wallet that includes Gift*card paper wallet support in the app. When coupled with the mobile wallet we're starting development on now we have a powerful system to do "air-drops" in the real world.
while i like the PoW implementation you've developed for 2give, i was witness of so many coin failures because the developer lost interest...
value is subjective, not absolute and maybe 2give has more value right now, but again, where will it be in a couple of years?
PS: when you say the "net is alive" -- what does that mean to you? I can't see it yet, but I can share that the 2GIVE seed nodes carry an average of +80 connections, recently spiking to around 120 -- what's in your wallet??
i mean that transactions are fast as blocks generation.
there are 10 connections right now...
