Quote from: toknormal on June 13, 2017, 07:51:15 PM

Quote from: paulmaritz on June 13, 2017, 07:32:13 PM

Just as I thought. What you initially stated is patently false: "Well, 20% of your funds bought into it. The other 80% goes to capitalising the balance sheet of Bitcoin Suisse AG of which you receive no share, at least as far as I understand. Happy to be corrected on that if wrong."

It isn't false.

Money doesn't just disappear into thin air. It's "owned" at all times. If you currently own 20% of the book value of your investment (notwithstanding the correction made below), then somebody else "owns" the other 80%. It is therefore currently sitting on the balance sheet of a private corporate entity which I presume to be the ICO issuer. I'm also assuming it's manifesting as an asset, not a liability, otherwise you'd be waving share certificates at me in your response instead of empty rebuttals.

Quote from: MalReynolds on June 13, 2017, 07:39:15 PM

I think the 20/80 rules only apply to the last 147K ETH that poured into the ICO that was above their intended 250K ETH cap. So I think the correct way to look at it is that (250+0.2*147)/397 = 70% of your donation went into capitalizing an asset you now hold. The remaining 30% went to an unplanned, "ex post facto" fund whose assets you now have no claim over. For the next 2 years this new fund will purchase tokens (at a price that gives zero profit to the public sellers) and give those tokens back to the Bancor Network that issued them.

Could well be that I have the aggregate ratios wrong. Thanks for the clarification !

Cryptos aren't money though legally at least most places they're classified as commodities and SOME commodities DO disappear into thin air...just ask Oil