Quote from: iotatoken on October 26, 2015, 10:57:39 PM

Quote from: chocobo on October 26, 2015, 10:52:23 PM

Quote from: iotatoken on October 26, 2015, 09:33:28 PM

Quote from: illodin on October 26, 2015, 09:25:28 PM

Hi, a couple of quick questions since the ICO seems to be the topic now:

How many % of the coins will the team keep?

Are you planning to prove somehow you're not "buying your own coins" from the ICO?

Is the ICO the only distribution method?

0% of the coins go to the team. The team will be compensated via funds raised in the ICO, no pre-mine. We'll have to buy our tokens just like everyone else.

Yes

ICO is indeed the only distributon method for this project for a couple of reasons:

1) It's the only way we'll get compensated for our work and development, since we have zero premine
2) It's the only way to ensure that the tokens are actually valued, which is needed to kickstart the ecosystem that will form around them and be part of their function

Won't you be compensated by your start-up? ICO's are NOT a good way to establish value, much less the only way.

Start-ups in the hardware industry does not pay dividends for quite some time, especially when it's not just a shiny toy for Kickstarter.

But ICOs are indeed a good way to establish value, it automatically spawns a sizable community that has a direct incentive to keep a platform alive. This is the problem with all these 1000 plus random PoW coins, they have absolutely no incentive. ICOs are not perfect, but they are better than the alternatives for a project such as this.

All I have found so far is the tangle whitepaper. Do you have an outline of the goal of the start-up and how exactly the coin ties into it?