echmm....
So if the Developers are going to be paid in "little amounts" over the course of the project then why can we not pay in "little amounts" to fund it through smaller staggered funding events. That seems a little hypocritical that WE are expected to pay the whole amount up front and then you tell me it gets divvied up to developers in small amounts.
Sorry to ask a question that could cause fear uncertainty and doubt but I have asked this question a few times and been ignored.
If we can buy into the blocknet using XC , does that mean that those XC could or would get dumped into the market and the price of XC will crash?
This is a really important question for us. We need an answer.
None of the coins used are going to be dumped.
You cannot really say that... You are ITOing for close to 1M in alt coins most likely.
This is going to be needed to pay the developers of the BlockNet which in turn are more than likely going to sell these coins to actually be able to pay for their expenses.
Depending on the ETA of the development, you guys will basically be selling for 2500 BTC worth of coins between the ITO and the final release.
The total ICO is less than 1M, and not all is from altcoins, only a percentage of that would be. the rest is in btc
To quote the
FAQ:
Will the ITO collect a large number of coins and then dump them to cover expenses?
- No. Coins will not be dumped. They will be paid to developers in little amounts, over the duration of the project. Therefore the ITO will not decrease the value of participating coins.
- What this does is increase actual usage of the coins. It won't suppress their price.
Wouldn't it be inefficient to have every time a small funding event? Like what? an ITO? like every 3 months or so? Apart from that, a new company/project/startup always wants to attract capital and investment from the get-go, so they are able to make a business plan, determine production/costs etc. Sure, in crypto world asking for a lot of money upfront can be considered AT LEAST a high risk investment, but then again, blocknet wont be the first one to ask for funding, and if one sweats at this high risk investment there's always gold for him to buy...
Last but not least, I would dare say that if these teams fail to deliver we might as well just scrap crypto alltogether, unless you believe taking part in an IPO/ITO of a new scam coin for something like 100 BTC is safer or sustainable long term... And that would make you(just an example, not attacking you personally) a hypocrite, because we all know you would be just thinking of exploiting the ITO spikes and making quick BTC out of it