Looks interesting, except for the fact of no cap on the investments. Refund that 20 BTC investment (79.9465 % of all IPO) and introduce a sane cap of max. 1 BTC.
This is obviously an insider using funds to obtain more of the IPO. I wouldn't be surprised if they used funds that they were going to use for development for the IPO.
Obviously the developers own funds. Unfortunately there is no way to make sure a developer doesnt pretend to use his own funds to buy stake in his own project.
He is basically doubling his money in this scenario by using it twice. Once the coin is listed on an exchange he can sell his stake and effectively double his money.
Now that you've pointed out his actions he could refund the money and make deposits of 1 btc twenty times.
Either way, we can't stop developers from acting in unethical ways.
I guess 1-2% premine just isnt enough?
Not when you can have 80% of the IPO as well.
We've been over this before further back in this thread, but I'll repeat some of it here.
Investing into our own IPO would severely dilute how much capital we can raise in the IPO phase. Furthermore, it would undermine one of our primary goals--- to spread HVC among many individuals during the IPO phase. Ever since the 20 BTC "bomb" has been dropped IPO investment into Heavycoin has decreased, which has not been good for us or the distribution of HVC.
We believe the 20 BTC "whale" has invested heavily at the start to discourage other from investing. While this is not good for our IPO nor the distribution of HVC among IPO stake holders, we believe the free market will prevail and provide a good distribution by the end of the IPO. We have already seen some good improvement over the last few days.
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