Hey guys,
I've been contacted to help with the escrow for this. It will be very simple to understand and to get involved. I am to keep a public list or spreadsheet of all investors, their forum nicks (you may remain anonymous), and the amount of BTC they have invested, and their GreenCoin address.
To keep it simple and transparent, I will use the tried and tested method of accountability which is just one investor BTC address which I control, and a link to that address in the blockchain. Everyone can see all incoming transactions.
For the sake of security of everyone's coins, refunds will only be processed AFTER the coin has launched, at the same time. This will be a "cold" wallet address, that's why.
If the coin fails to launch in a satisfactory manner all BTC will be refunded back to their original addresses, less any bitcoin transaction fees. (Usually 0.0001 per 1000 bytes.)
This is my escrow thread if you want to do some research.
https://bitcointalksearch.org/topic/escrow-service-by-dabs-234939For investors sake, please use a wallet where you control the private keys and can sign a bitcoin message. Search the forums on how to do this. Do not send BTC directly from an exchange or a web wallet.
In case of disputes, I will honor whoever sends a signed message using the bitcoin address that sent the coins. Bitcoin-Qt can do this.
As I understand it, you can wait for the wallet to be launched to get your GreenCoin address from there, or you can generate one using the web page which looks like bitaddress.org.
Any refund, will be sent to the address that originally sent it (or one of the addresses if there is more than one) as reported by blockchain.info UNLESS you can sign a message using that address to send it to another address.
I will charge a flat 1% fee, regardless of the amount of BTC collected by this IPO, deducted at the time I send the funds to the dev, less any refunds.
I will send the BTC to the GreenCoin devs only after the coin has launched, the wallet is working, the investors have received their GreenCoins, and the miners and GreenCoin network has reached at least 48 hours or 576 blocks. I think this is fair, if the coin is 2 days old and everyone got their GreenCoins, then I can release the IPO BTC funds to the devs.
For investors, what you could possibly lose is the time any coins you send until launch. This means your BTC are stuck until at least 2014-03-17.
For the GreenCoin team / developers, you don't get anything until after 2014-03-19 (48 hours or 576 blocks where each block is 5 minutes.)
If Drexel agrees to these terms, then I will post a GPG signed message containing the bitcoin address for IPO. Investors may choose to remain anonymous (identified only by their GreenCoin address), just send the BTC to the address indicated, and send me a PM with transaction details, preferably with a signed bitcoin message.
If you do not know how to sign a bitcoin message, please take the time to learn it.
I am not responsible for any coins sent directly to the GreenCoin team on their web shop. They do offer a 10% bonus.
Thank you and have a nice day!
Dabs
*edit* wrong year, I meant 2014.