The starting price for SHDW will be $0.05 across all pairs on August 1st at 9am EDT. It's a free market, so we will raise the price with demand and others are free to buy/sell at whatever price they want or can.
The ICO is not to raise money for development, but rather to transition from a single owner to community-driven development led by a board of directors. 100% of the profit from the Shadow Era game, physical cards, and IP will go to the token holders!
hmm... I think basically the price would depend on whatever the dev wants... not the market
because it starts with the dev holding all the coins and releasing bit by bit and raising the price according the demands
how would the market sets the price, if they have no coins to start bargaining with
or I misunderstand the whole idea of this Aug 1 ICO event?
Where does it say that they would release this bit by bit? They are saing they rise the price, but i thought it might be a set of sell walls.
They didn't say it explicitly, but if you look at the situation where they hold all the coins at the beginning
and no other people own it then they could control the market price
they could hold it to drive the price up
they didn't mention exactly the mechanic of the ICO other than saying
"It's a free market, so we will raise the price with demand and others are free to buy/sell at whatever price they want or can."it would be better if they explain more or setup a condition such as
the first 1mill will be sold @ $0.5 and every next 100k will increase by $0.1 if buy order exceed 100k/10 mins
otherwise it will stay the same and will lower the price by $0.1 if the buy order never reach 25k/10 mins
that just example of conditioning I can think of to stimulate market price at the beginning
or let the buy order build up and fulfill them per 10 mins with certain limited amount tokens sold
or a set of sell walls just like you said