Re: [Pre-ANN] SilverCoin (SVC) | Bounty Program

Hey, thanks for the insights equator.

This delay is not helping us but we had to do a project upgrade + white paper before the ICO. What we had before was not good enough nor was it easy to understand. (website has been updated but this forum OP has not yet been updated)

We are looking into doing the ICO and exchange listing in one move. Right now we are considering C-CEX and leaning toward doing the ICO as a simple sale wall.

We are considering something like the following

10 million SVC for sale on the C-CEX exchange via a sale wall

0.00010000 btc day 1
0.00012500 btc week 1
0.00015000 btc week 2
0.00017500 btc week 3
0.00020000 btc week 4

Coins will either sell out or the remaining coins will be escrowed until if/when needed.

Any suggestion/criticism by anyone reading this would be appreciated.

So you are cashing out 10M SVC .... in the first weeks of its existance ??
Are you going to disclose the BTC account so we can monitor when someone runs away with it all ?
Or is it being put in escrow, where it can be doled out uopn milestones ?

You may be right about the milestones, especially if we plan on utilizing sale walls. What are your thoughts on this? Any suggestions?

10 million SVC for sale on the C-CEX exchange

Executed as Sale walls
0.00010000 btc day 1
0.00012500 btc week 1
0.00015000 btc week 2
0.00017500 btc week 3
0.00020000 btc week 4

Milestones - If more than 5 million SVC are sold
50% to start
20% for SilverCoin intro video, new website and TrueFreedom prototype
20% for Proof-of-Change Integration
10% for Ardor Migration

Any unsold coins will be escrowed until after ICO funds run out.

Why C-Cex?

C-Cex and Bittrex are our best 2 options because both currently list NXT Assets and run ICOs. However it is unlikely we have enough community activity at this time to get listed on Bittrex. C-CEX also allows credit card payment, which will be important for some of our non-crypto investors.

Were aware of the ICO scams on C-CEX. I even fell for one there before Christmas. But I never blamed the exchange. As long as the exchange is secure and honest it should be ok. And investors can move their coins to a NXT wallet right away if they are nervous about it.

×facepalm×

50% to start ...... ummm to start what? What is this being spent on... transparency please.
IF the coins sold at .50 - 1$ each, we are potentially talking about 5 - 10M dollars, dont you think the community should be told what safeguards are being taken to prevent it being miss used or absconded with, or how about even its intended use?
But to just say your going to sell us 10M coins PERIOD is a bit vague.

Thank you. We appreciate your thoughts on this.

This ICO information we are discussing is just the preliminary stage in getting community feedback on certain items before we lock things in and build our ICO platform. So all comments and criticisms are truly valued at this stage.

The 50% is to be the working capital on developing the 3 milestone items above. With the 20%, 20% and 10% paid only after their respective completion. This should give us enough $ to develop without restriction but still have 50% locked out in milestones to provide the incentive to keep moving forward. Not that we need the incentive but we can see that being important from the investors perspective.

The coins are being sold in the range of 0.00010000 to 0.00020000 btc so that is approximately $0.13 to $0.26 usd per coin based on todays BTC value so the MAX we can receive is in the $1.3 - $2.6m range.

We are aiming for the sweetspot where we have enough funds to comfortably develop the project but its as low as possible to give investors the best opportunity we can.