I am thinking
not to do an ICO.
Alternative plan is to sell tokens little by little on exchanges (i.e. no prospectus, no promises, no centralization) as price rises and development continues. Buyer buys a software token. He gets what he buys on that day same as any other owner of tokens selling his copy of the software, not future promises. A free market.
1 - Allow the development team to (heaven forbid) pre-mine some coins for themselves, they get paid when they make them worth something
I am also coming to the conclusion that is the only way to do it because
all other ways appear to be illegal. And that was my original plan in 2014, but was told by everyone that premine was horrible. Yet I've come to realize that every project was premined, even Bitcoin and Monero. There was always some limited number of people who were mining with huge resources at the very start when the difficulty was miniscule.
Note there would also be tokens distributed by "mining" (as onboarding) similar conceptually to PoW but not PoW.
- When the coins are still worthless at the start, and you really need money to pay developers, you have none.
I am a developer. I eat rice. I live in the Philippines and $300 monthly rent, $256 child support, etc. I have angel investors for my basic needs.
Open source. Anybody can code on it.
I still think, despite the issues, the first idea I posted is the best long-term (Dash style mining percentage, voting system)
Illegal.
And its competing for
a coming ICO graveyard of bankrupted fools.