I bought Waves two different times during the ICO. I am thinking about getting more Waves before the ICO ends.
Funny that we're in a Laffer Curve framework here. Too many BTC means too much dilution, but too few BTC means inadequate development funds in re the plans. I hope we end up near the optimum.
I think we're past the optimum now. Beyond a certain point increased dev funds do more harm than good, (why work too hard, we're already rich), combine that with IPO investors constantly whining that price is well below ICO, and you have a recipe for disaster.
Ideally what you want is hungry devs who can see the prize ahead, but it's out of reach, and investors supportive and active with the same feeling (the prize of increased marketcap is in sight, but needs time and support to achieve).
With WAVES I can see an avalanche of post ICO negativity as everyone who wants into WAVES will be so up to their balls, so price is heading south, and the devs tolerance for complaints, and hunger for 24/7 startup work ethic will not exist after a few months, as they're already rich.
I agree with the idea that there is probably a "sweet spot" for BTC raised. I liked the quote: "too many BTC means too much dilution, but too few means inadequate development funds." That sums it up well.
You make some really good points to consider. But I'm not sure we're past the optimum now. But we certainly could get there.
The devs to me seem full of ambition and vision. I'm not sure they would be inclined to take things easy just because they are "already rich." I sense they have a lot of integrity and a strong desire to bring their vision to pass. I think they know their reputations are on the line and they will probably push and push until all their goals and dreams are realized. Also, I seem to remember that in order to implement their loftiest visions will require a lot of funds as some of the licenses they seek can be very expensive to obtain. I don't understand this world that well to provide the details, but I'm sure some people could.
I've thought that breaking the 10k BTC milestone would be ideal for this project. It looks almost certain that will happen. I'm not sure we should blast through that to something like 15k or beyond, but there might be hidden benefits to that outcome that I can't see. For me something like 11k BTC would still feel right and good. Past that, I might start to share the concerns you stated so well.