Quote from: bones on October 06, 2016, 03:20:52 AM

Quote from: ICONOMI on October 06, 2016, 12:32:16 AM

Quote from: TacoByte on October 05, 2016, 05:12:50 PM

Quote from: ICONOMI on October 05, 2016, 12:25:50 PM

Right now we are:
- 2 cofounders + an advisor basically on close to same level of dedication as us two
- 4 developers. 2 more onboarding right now
- 1 designer being onboarded right now as well
- 1 legal
- 1 product guy coming from Berlin on 16th October
- 2 in communications / marketing
- 1 financial guy

The thing is, that we started hiring before ICO ended as well as looking for new office space to rent. And we were actually warming people that were able to join right now almost since the beginning of this year. All that because if we would start with all that right now, we wouldn't be able to have team as of right now before year ends. You can't get A+ players right off the shelf in a week to say.

How long to burn the funds I can't say right now. Could be that legal is something we'll have to pay a lot for. I would say we are good for at least 5years (that would be $2m per year, which we are far from burning right now... but let's take into account that there might be some unexpected costs). Additionally to that. I was in NYC last week and lawyers there talk 6 digit figures and our PR agency is located right on Wall Street - they for sure are not the cheapest - but are very much needed.

You announced that the funds past $5 mil would be used for the performance.fund. What's going on exactly?

My bad. I apologize. Whatever raised over 10k BTC during ICO will go into ICONOMI.performance fund. But that fund will be then creating more value for ICONOMI and most likely extend our runway for waaay waaay longer. Profits from that fund will be distributed as dividends to ICN token holders.

If profits from that fund were given away as dividends, how would it also extend your runway?
You can only spend it once.

Profits are given as dividends. But value of underlying asset in the fund increases. That's how.