First of all, the concept sounds interesting. But I have a few questions and suggestions.
Just an edit on this as well since the wallets and source won't be available until the IPO investments and Buy Backs are complete then no exchange can add our coin before launch.
This will ensure that as a community we will have already given an associated value to the coin through our IPCO structure.
Correct me if I missunderstood you.
You say that there won't be a wallet and source available until the IPO is completed.
So you want to say I haven't even a prove that this coin really exists until the IPO ends (after all 7 stages)? So you just playing with numbers like "Thank you for investing 0.5 BTC your stake of xxx CPL is documented"?
You have to admit that this will lead to a very risky investment, if you can't prove that there is at least a coin behind this concept.
We do not do escrow as we are providing buy backs which is much more efficient to the community and if you stopped to read instead of just seeing IPO and thinking its a scam we are trying a new innovative solution to IPO to allow everyone to profit.
And a suggestion to the escrow service. You wrote escrow would be difficult because of the buy backs. You could easily instruct a trustworthy member who offers an escrow service. The escrow agent could also run the buy backs for you.
Thank you for your questions, this is the type of constructive criticism we're looking for to smooth out the rough edges. We have decided to restructure somewhat due to everyones concerns.
We have decided to push the IPO launch date back 1 week so stage 1 will commence on around April 7th. Until then we are going to develop an online wallet and have it ready for launch. The wallet will be locked until the IPO is complete and will only allow incoming transfers, so everyone can have possession of their coins. Then once the stages sell out and an equitable distribution has been achieved, the lock will be raised and we will start hitting exchanges by the week.
Regarding escrow, we believe our new format will remove the need for an escrow since our reputation will speak for our legitimacy. As funds come in, the coins will be going out so there are no questions regarding the existence of this project. Other than that, we have already started contacting blog owners and merchants and strive to secure multiple strategic partnerships before the launch even begins.
