Topic: [Pre-ANN] Name Undecided - NON Fundraising "ICO" - Maieuticoin Trade In Option (Read 1447 times)

Nice to hear. I am waiting for it

Some users have expressed interest in anonymous features. Without compromising the viability of Maieuticoin as a merchant tool in the future, we are giving our current supporters an option to stay with the original or switch to the new one with anonymous sending

Maieuticoin had no IPO of any kind. It was entirely mined out when it was still MMXIV. We also aren't accepting Bitcoin, nor are we keeping any funds

Scam to drive the price up of Maieuticoin?

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Fairly soon, we will be launching a second coin. It will be very similar to Maieuticoin, but with a few small changes. First of all, the mining phase of the new coin will be completely eliminated. There will be a maximum of 1,000,000 coins, attainable only during the "ICO" Phase of the coin

Very Similar, but Very Different
The new coin will fill a gap that we are not going to fill with Maieuticoin. Anonymous sending. We debated for a long time whether or not we wanted to add this feature to Maieuticoin and decided against it for one reason. Currently, crypto currencies are in a spot where we need to be extra cautious. For this reason, Maieuticoin will never have any anonymous features. This ensures that, long term, merchants and vendors can feel safe accepting it knowing the coin will allow them to easily follow all Anti Money Laundering and Know Your Customer laws on a blockchain that is completely secure, due to offline staking

"ICO" Phase
This is where things get much different for this situation. We will not be accepting BTC for the ICO. The only way to buy into the new chain will be with Maieuticoin. This is to ensure our investors and supporters will not be left behind, and those only interested in extras, such as the Multipool, Mobile App, and many still-announced features and services, will still have a place to call home. The ICO is in quotes, because we aren't raising funds for anything. Any projects we have in the past and the future have been and will continue to be 100% funded by the development team, with no premine or fundraising ICO for either chain

Who gets the ICO Funds?
Nobody. All the Maieuticoin traded in for coins on the new chain will be destroyed. These coins will be sent to an invalid address and removed from the chain forever, lowering the total supply. Not only will this help combat the inflation due to Proof of Stake, but it will also allow investors and supporters to choose which project they prefer with no issues. We will have a very public address used to collect the Maieuticoin being traded in so there is a public record of the balance to be destroyed

The new chain will have a max of 1,000,000 coins in the "ICO" Phase, with a trade in rate of 500:1 - This means for every 1 Maieuticoin you decide to switch to the new chain will award you 500 coins on the new chain. Maieuticoin currently has about 2100 coins in circulation, which is how we arrived at the 1,000,000 max for the "ICO" Phase. All unsold coins on the new chain will also be destroyed in a similar fashion as Maieuticoin; Invalid address with unretrieveable Private Key.