Re: [ANN] Bancor | Protocol for Smart-tokens, solving the liquidity problem
If they do it this way, it doesn't evenm atter if they raise 100 or 200 or 500 million.
The name Bancor will be tarnished before it even starts.
With such a high profile project, you have to know beforehand what you need to realize your product. Don't collect as much cash as possible, from with 20% or whatever goes to the devs and founders etc. And then the "hidden" cap...
They take a large part of the reward away from the investors, heavily increase their risk, and give themselves heaps of spare cash for lamborghinis.
Sometimes you have to be "hard" and set a cap, or find some other way. But the team saying "we take as much money as possible" instead of "we need 30 mil for x, 50 mil for x+y" is simply unprofessional.
If they don't provide a different solution, capped in one way or the other, I will sadly have to ask nicolai to return my funds.
Oh right, I was told there'd be a cap and paid a fee to secure a spot ...
The name Bancor will be tarnished before it even starts.
With such a high profile project, you have to know beforehand what you need to realize your product. Don't collect as much cash as possible, from with 20% or whatever goes to the devs and founders etc. And then the "hidden" cap...
They take a large part of the reward away from the investors, heavily increase their risk, and give themselves heaps of spare cash for lamborghinis.
Sometimes you have to be "hard" and set a cap, or find some other way. But the team saying "we take as much money as possible" instead of "we need 30 mil for x, 50 mil for x+y" is simply unprofessional.
If they don't provide a different solution, capped in one way or the other, I will sadly have to ask nicolai to return my funds.
Oh right, I was told there'd be a cap and paid a fee to secure a spot ...
First off, we'll pay the bitcoinsuisse fee if you want to get your funds returned.
Second, I'm not sure I understand how the 1 hour minimum = an increase of risk for investors, or a loss of reward. Can you explain?
Part of the reason we're okay with the 1 hour uncapped time is that huge amounts of this money will be immediately put into smart tokens that will make the Bancor protocol run and function. The more we get, the sooner and more powerfully we can have the system up and live.