Quote from: toknormal on June 13, 2017, 07:08:43 PM

Quote from: paulmaritz on June 13, 2017, 06:52:27 PM

"80% goes to capitalising the balance sheet of Bitcoin Suisse AG of which you receive no share" - How did you come to this conclusion? Please explain and state your sources.

My source is here: https://bancor.network/fundraiser

Only 20% of your investment goes into the token reserve. That's what you now hold (20% of what you originally put in at opening book value). So you've effectively paid an 80% premium on your Ether for it to be turned into BNT tokens.

The other 80% of what you put in (approx $120 Million) now sits on the balance sheet of the ICO issuer either explicitly (in the form of fiat balances at bank) or implicitly (in the form of crypto currency holdings). Investors no longer have any stake in this part. As I understand it, the issuer is Bitcoin Suisse AG but have not looked too much into the corporate structures behind the issue so could be wrong.

So in summary:

20% of your investment went into capitalising the asset you now hold
80% of your investment went into capitalising a private company in which you didn't get any shares

Like I say, that's just my understanding of the current equity balance of the ICO. I'm happy to be corrected if wrong.

Incorrect.

80% of the ETH raised above 250k goes to a smart contract that will buy BNT whenever the price is at 0.01 ETH/BNT. After 2 years the remaining ETH will be accessible to us.

20% goes to the BNT smart token contract's ETH reserves.

None of it goes to any private company.

Bitcoinsuisse isn't involved in any way.