Quote from: asharpguy01 on June 03, 2017, 06:18:43 PM

Quote from: bitdrafter on June 03, 2017, 06:06:21 PM

Quote from: asharpguy01 on June 03, 2017, 05:57:25 PM

I have a question that might not just apply to WGR, but any ICO. What if Wagerr really takes off as a success story and some larger non-blockchain gambling company acquires it? What happens to the value (or even the existence) of WGR tokens in their current form? Since our WGR tokens are not an "investment" or stake in the company, could the acquiring company just eliminate WGR all together and replace it with a new online token or currency? Would the company be obligated, either legally or via an effort to keep the Wagerr customer base, to maintain the WGR tokens or convert them to a new token/currency?

This just might be one of the risks with getting involved in any ICO.

I follow your line of thinking, and some ICO's that are backing a company and its work i think that could happen and be an issue, however that is not the case with wagerr.

When Wagerr fully launches, it will be completely open source and fully decentralized, meaning that there is no company to buy, no source code to acquire the world will own it

See, that's why I'm here. Thanks for the thoughtful reply!!

I'm stoked for you guys and think you are definitely tapping an huge opportunity here in the gambling world.

I'm relatively new to ICOs, and there's so much to process about blockchain that I completely forgot about the decentralized nature of blockchain. But, undoubtedly, the developers of this application are certainly going to want to make some annuity money off this (not just the initial ICO round of funding). So, I'm trying to wrap my head around how that happens. Do they keep a large number of tokens themselves during the ICO (I'm assuming you guys are legit and not a pump and dump)? Once the ICO is complete and the system is off and running, who maintains the website, updates the code, etc. and what is their incentive to do so?

Cool, no problem. The white paper does outline many of these issues, and if you are looking for deeper detail to some of these answers i would check it out. It is a long document so places to get most of these answers are section 11.2 (development fund/fees and how wagerr will be able to be developed on continuously as well as developer coins) Also section 7.9 which covers governance and how the network will grow and be maintained over time while maintaining a decentralized nature.

Link to the white paper https://wagerr.com/wagerr_whitepaper_v1.pdf

Hope this helps!