interested but...
i have a question regarding ICO.
Below are the FULL and DEFINITIVE terms for this ICO; no other conditions are required.
-We will review the wallet before initially adding it.
-We will put up for sale 100M coins at BTC0.000007. Only sold coins will be delivered at the end of the ICO.
-The ICO will run for 3 weeks starting Monday October 6th, 2014 and ending Monday October 27th, 2014.
-If success conditions are NOT met, all BTC invested will be refunded through a buy wall. <--
and more..
but then this..
*Max Coins will equal coins sold in ICO
So coins sold is max amount.. which comes down to.. "any amount sold is fine"
My questions
1, how can succes conditions not be met? -then there should be a minimum-
2. how can you garantee the refund? that line shouldnt be there in this case
not trying to FUD or anything
cheers
Success terms is a working wallet and stable block chain, delivery of the coins to Bittrex for distribution.
We have not set a minimum sale in the ICO. GAIA will launch with maxcoin set at whatever is sold in the ICO.
The ICO is capped at 100 million.
The core devs will not depend on BTC from ICO for income, we have a number of ways to generate revenue from this project:
- Offer paid apps/extensions on the appstore
- Offer custom re-branded platforms like webstore/auction
- handle special requests by merchants for custom addons
in addition with the open source nature of this project other developers can join in and offer more features on the appstore
from which we will charge a nominal fee to help with development.
So far our plans for BTC funds collected in the ICO:
- Spend a portion on Marketing ( We have signed up with cryptoasian.com for 6 months ad spots and plan on adding more as we go )
- Have BTC for future developments that would require BTC/FIAT funding.
- Airline tickets/expenses for a team member to attend crypto-currency conferences if called for to increase awareness of the project.
- Recover costs for ICO and outsourced developments ( We paid for a multipool in advance of release so it's ready on the day we release wallets, paid block explorer and hosting/servers for nodes etc)
- Purchase GAIA on Bittrex to offer bounties for creative addons submitted and offered for free on the appstore.
I know that's a lot for the BTC sold so far, but we will attempt to stretch our budget and prioritize.
If the ICO hits a certain limit we will buy back some GAIA from Bittrex to create volume and encourage trading by making calculated buys. ( I do not mean manipulation )
