"Hashcoin ICO Customer Round Q&A Transcript from Yesterday Evening"
I highlighted some things that stand out to me, below. Probably nothing new. A few broken promises (identities of analysts and banks that set the $20 price expectation were to be released, for example). Claims about partnerships.
I'm probably missing something but it looks like the $20 estimate (allegedly from banks and analysts, not just pulled out of Josh's ass!) was based on an assumption of 250 million coins total. So the number of coins changed to 12.5 million, but the $20 per coin estimate wasn't affected?
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Q & A:
Does this mean that although we can buy the coin at around $4.00, if it is actually worth at least $20.00?
Answer: Yes, Josh stated that the coin will be $4.00 or less for the miners to purchase using their Hashpoints.The analysts and banks have stated that they have determined the coin will be “at least” $20.00 per coin, once it is released for sale to the public.
Clarification (Allen): This is just like an Initial Stock Placement Offer (IPO), to investors and the public, of a corporation’s first issuance stock on the NASDAQ, NYSE, Euronet, CAC 40 and DAX. A company decides to raise a specific amount of money to expand their operations, so they go through a process with investment bankers to secure the needed amount of money. The investment bank analysts probe the would-be investors to get an impression of what value they place on the stock, or in this case, a coin. This will change as the offering date approaches, sometimes higher or sometimes lower. They will know best a day or two before this ICO for the coin. Currently, GAW is being given data to indicate that the coin will go for “at minimum” $20.00 each to investors who have already shown interest to “buy in.”
I am basically curious how you guarantee this $20.00 price. Why $20.00 and $4.00 valuations?
Answer-1: $20.00 is not guaranteed, it is the minimum price that outside investors have agreed they would be willing to pay to invest in the coin. It is highly likely the coins market value, at sale time, will be higher than the $20.00 price. As the ICO date approaches, more valuations will be determined from further probing of the interested investor market.
Answer-2 (Allen): All of the ICO coins are apportioned based on the current investors’ and banks’ percentage of involvement up to this point. The remaining share of the ICO coins belong to GAW (and entities). This is a funding coin for GAW’s business expansion projects as well. All involved entities have decided on the percentage of the ICO that will be sold to the miners. Any miner with Hashpoints will be able to purchase the coin with their Hashpoints.
Does this mean that although we can buy the coin at around $4.00, if it is actually worth at least $20.00?
Answer: Yes, Josh stated that the coin will be $4.00 or less for the miners to purchase using their Hashpoints.The analysts and banks have stated that they have determined the coin will be “at least” $20.00 per coin, once it is released for sale to the public.
Clarification (Allen): This is just like an Initial Stock Placement Offer (IPO), to investors and the public, of a corporation’s first issuance stock on the NASDAQ, NYSE, Euronet, CAC 40 and DAX. A company decides to raise a specific amount of money to expand their operations, so they go through a process with investment bankers to secure the needed amount of money. The investment bank analysts probe the would-be investors to get an impression of what value they place on the stock, or in this case, a coin. This will change as the offering date approaches, sometimes higher or sometimes lower. They will know best a day or two before this ICO for the coin. Currently, GAW is being given data to indicate that the coin will go for “at minimum” $20.00 each to investors who have already shown interest to “buy in.”
I am basically curious how you guarantee this $20.00 price. Why $20.00 and $4.00 valuations?
Answer-1: $20.00 is not guaranteed, it is the minimum price that outside investors have agreed they would be willing to pay to invest in the coin. It is highly likely the coins market value, at sale time, will be higher than the $20.00 price. As the ICO date approaches, more valuations will be determined from further probing of the interested investor market.
Answer-2 (Allen): All of the ICO coins are apportioned based on the current investors’ and banks’ percentage of involvement up to this point. The remaining share of the ICO coins belong to GAW (and entities). This is a funding coin for GAW’s business expansion projects as well. All involved entities have decided on the percentage of the ICO that will be sold to the miners. Any miner with Hashpoints will be able to purchase the coin with their Hashpoints.
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Can you release the names of the analysts and banking partners involved?
Answer: The identities of both the analysts and banks will be released once the ICO has completed and the merchant marketplace established in the near future.
What is the roadmap on documentation for the API/protocol, so web developers, like me, can integrate the coin payment acceptance into our websites?
Answer: We are already partnered with some of the largest merchant payment collectors. The project will also be open-source.
A week or so ago, you said that the market cap is going to be 250 million. Does this mean the total number of coins or does this mean something else?
Answer-1: It will be much higher now.
Answer-2 (Allen): “Market Cap” refers to “Market Capitalization” in the financial world. One takes the number of corporate shares outstanding, multiply those by the current market price, which will then equal the total market value of all outstanding shares of the company. For this coin, the application will be the same, so it is not “numbers of coins,” but rather the entire expected market value of the coins. Josh has indicated this to be the case, because he has stated that the expected market cap is much higher now, meaning that the new expected “value” of the coin has increased above the earliest estimates from a few weeks ago. Although I have no direct confirmation, one can make a deduction that there will be a maximum of 250 million “coins” to be mined, forever. Initially, the calculation for “market cap” was probably being “conservatively” based on a $1.00 per coin rate, hence his original statement that it would be a minimum of $250 million. Now that the expected price on the market has changed, the total mine of the coin (total to be mined) will be in excess of $5 billion ($20.00 x 250 million coins to be mined), at the time of the initial coin offering.
Answer: The identities of both the analysts and banks will be released once the ICO has completed and the merchant marketplace established in the near future.
What is the roadmap on documentation for the API/protocol, so web developers, like me, can integrate the coin payment acceptance into our websites?
Answer: We are already partnered with some of the largest merchant payment collectors. The project will also be open-source.
A week or so ago, you said that the market cap is going to be 250 million. Does this mean the total number of coins or does this mean something else?
Answer-1: It will be much higher now.
Answer-2 (Allen): “Market Cap” refers to “Market Capitalization” in the financial world. One takes the number of corporate shares outstanding, multiply those by the current market price, which will then equal the total market value of all outstanding shares of the company. For this coin, the application will be the same, so it is not “numbers of coins,” but rather the entire expected market value of the coins. Josh has indicated this to be the case, because he has stated that the expected market cap is much higher now, meaning that the new expected “value” of the coin has increased above the earliest estimates from a few weeks ago. Although I have no direct confirmation, one can make a deduction that there will be a maximum of 250 million “coins” to be mined, forever. Initially, the calculation for “market cap” was probably being “conservatively” based on a $1.00 per coin rate, hence his original statement that it would be a minimum of $250 million. Now that the expected price on the market has changed, the total mine of the coin (total to be mined) will be in excess of $5 billion ($20.00 x 250 million coins to be mined), at the time of the initial coin offering.
