Quote from: DragCommDavey on October 13, 2017, 05:13:41 PM

Let's clear this up.

Lets say you put in 1 BTC.
Total raise is 10 BTC.
You get 10% of all dragons in public sale pool.
If contributing ETH, we convert to BTC at least daily based upon Bittrex closing price of ETH/BTC and use that value in the calculation. Market price for Dragons will be determined at close of sale based upon total amount raised (against fixed supply available in public sale [55% of total supply] = 238,421,940 Dragons]).

We do NOT consider USD price in the calculation.

Most ICOs assign an arbitrary value to their token, come up with a hard cap, and offer bonuses and discounts to entice people to buy as quickly as possible. FOMO. We are choosing not to do that. We are letting the market set the price of DRGNs and by doing this we are hoping to create a more stable token and prevent dumping when DRGNs hit exchanges.

The problem with that is, people who put in $1000 and $3000 can potentially end up owning the same amount of dragons, in this current world, where BTC isn't standard currency, this is pretty much a joke.

If ICOs assigned an arbitrary value, say $10, to their token, then $1000 spent is $1000 spent, you won't be penalized or profit just because the BTC value crashed/jumped due to other external factors that's not related to dragons. You are effectively creating "FOMO" because people might be afraid that tomorrow's BTC might be even more expensive and that they need to buy BTC now(!) so they can get the same allotment of DRGNs with less USD today.

You are not letting the market to set the price of DRGNs, you are letting BTC to decide the price of DRGNs when you are basing your evaluation off of price from BTC's market price (and price of BTC isn't majorly affected by DRGN, so really, that statement is really false).

Currently on the funding page, you are showing you've raised ~7700ETH and ~203BTC, which is ~3.8mil. (approx 7700ETH*$330 + 203BTC*$5800 -- even this is questionable, you guys suppose to exchange ETH into BTC everyday at the closing according to your FAQ, why is it still showing how much ETH you've raised?! You should be showing everything as BTC). Now, hypothetically, if the market crashed, and ETH and BTC worth only 50% of the current value, you would only have raised ~1.9mil instead. That's....kind of unwise. Unless you sell off coins into fiat (USD) as they come in, then you can at least guarantee that you've raised actual USD to pay off the whatever bills the company needs to pay. If THAT is the case, then a person who bought 1 BTC at $2000, and a person that bought 1 BTC at $4000, contributed different amount to the company, yet, they will receive the same amount of dragons. Hummmm, so however you want to spin it as "We are choosing not to do that. We are letting the market set the price of DRGNs and by doing this we are hoping to create a more stable token and prevent dumping when DRGNs hit exchanges", it is actually better off to have assigned the dollar value to each DRGN tokens instead of this "i hope i'm lucky that i purchased my btc when it is cheap". Your system would've worked if people's bank accounts are in BTC units, but they are not. People need to exchange them using USD, that adds an extra layer that you guys did not consider apparently.

Another thing, Market price for Dragons will be determined at close of sale based upon total amount raised, just exactly how did you guys come up with this and decide it is a good idea?? If, IF, BTC is worth $100k a piece, and you have raised 600BTC, that makes you a $60mil company. But if BTC is only worth $1000, you are only worth $600k. You are not letting the market to determine your company's worth, you are letting the BTC's market to determine your company's worth instead - for now at least - this isn't very good either...

In short, I find the system to be questionable, and people that is interested should really look into the math behind how they determine how much drgn you are assigned