Topic: [SKY] Skycoin Launch Announcement - page 163. (Read 381579 times)

Maidsafe is raising 6 million dollars at 120 million dollar valuation.

Ethereum is raising 30 million at over a 100 million dollar valuation.

Ripple IPOed  at over a 100 million dollar valuation.

Skycoin is IPOing at 5 million dollars and only raising 50k. The IPO is oversubscribed. We are doing the IPO at such a low price so that more people can get coins early.

Reasons for the Structure of the IPO:

The reason a 50k IPO was chosen was because we have experience with previous coins. We know investors who buy up allotments of coin in the IPO, wait until the price goes up 30x and then DUMP the coin, completely destroying the equity of the other coin holders.  A coin going from a 1 million to 50 million dollar market cap, with 30% of the IPO investors dumping, needs between 5 and 15 million dollars capital inflow just to maintain the price. Skycoin is not a pump and dump and a smaller IPO reduces the impact of speculator dumping and improve price stability.

A majority of the Skycoin will be distributed to the user base within the first five years. We learned the mistakes of Ripple and will not repeat them.

We believe that distributing all the coins at once, hurts the users who came in later and are committed to a gradual, Bitcoin like distribution. Mastercoins and other coins that did a single large IPO, failed to create an incentive for users who came in after the IPO and there was no financial incentive for later users to adapt the coin.

Coin Distribution:

We are looking at different models for distributing the rest of the coins and we have a few options.

1. Release 0.1% of the coins per day and taper the release rate over time
2. Give coins away as subsidies and incentives for running mesh network nodes (example: $200 subsidy per mesh network node)
3. Hoard all the coins so we feel rich
4. Developer bounties

We like the mesh network node subsidy, because it requires buying hardware (proof of burn), can be verified and increases the value of Skycoin. We are able to verify the geographic location and setup of the nodes, through third parties.

The official policy is to keep Skycoin scarce and to protect and grow the equity of the existing Skycoin equity holders. This means, that we will give out coins for things that may increase the value of Skycoin, but will not give out coins randomly or dilute the existing stakeholders.

The official policy is to promote price stability and gradual appreciation.

Your new model is to sell 1% and hold 99% now to build a market with high price then sell(distribute) 99% later with a better price. What you are trying to say is that you devs want most of profit, not for the investors. They only need the investors to help them to build a higher price market. That is fine if it is a low risky project. Profit should be consistent to the risk. To reduce this projects risk, can you guys come out from shadow, like Ethureum guys, Mastercoin guys, and ripple guys? So we will know who you are and what you have done before.

Go buy BlackCoin if you want 1000% returns. everyone is butt hurt because they can't buy half of the skycoins upfront and make millions of dollars with this ipo.

Blackcoin went from 1 BTC =55,000 Blackcoin, and at its peak, sold at 0.45 cents each with 1 million in trading volume


a minimal amount is fair.

Skycoin: IPO 1% of coins and distribute the majority of the coins to the userbase over time (within five years)

Skycoin is trying a new model.

That is really disappointing. I've been watching this thread for a loooong time just to find out that you want to sell 1% coins for 50'000 dollars and don't even mention about other 99%. Good luck with your business plan.

"1. Release 0.1% of the coins per day and taper the release rate over time". That's total bullshit. Nobody gonna wait 1000 days to receive his few coins. I had enough of it with Reddcoin, although they're sending 1% of my coins every day.

Listen to people and delete your crappy plan. Ethereum guys also have crappy plan at first but after they listen what people think about it they decided that it just won't work and they're working on a new IPO plan for a couple of months now and still don't have it. It's not as easy as it might look like. If 95% people hate your IPO plan they'll hate your coin. I bet it's not what you're going for.

will invest some btc on this,  how about limit everybody's amount? No more than 1 btc?  and no multibuyer?

Probably it would be even better if they sell 1% without setting price. In this case they may gather $100K or even $200K. Why not? If devs control 99% coins investors may not be afraid that for instance miners will dump coins for much lower price. After this type of IPO price won't go down, only up. Nobody would sell coins cheaper than he bought.

What do you think Skycoin? I'd invest in it for sure.

It's $50000 for 1% coins,right?
Personally, I think you really need an escrow and I recommend escrow.ms. This guy is amazing!

what will happen if you do not get 50k  in the ipo?  if you only get 5k what will happen with the left sky coin ?

It's $50000 for 1% coins,right?
Personally, I think you really need an escrow and I recommend escrow.ms. This guy is amazing!