I've asked this many times, how much NAV does the team own? Is it impossible to answer it?
I am sure they can answer that easy but it is not relevant.
Here is why:
- There was no premine
- Their holdings are either bought or mined in the PoW phase
I like to compare it like this. If you joined the development team tomorrow, would you have to sell your NAV Coins to fund the project, work for the project and spend time on the project? While others sit behind their computer asking for updates..
Also, this has nothing to do with the community fund. The community fund is not for the Core team. It is a fund for everyone wanting to contribute to NAV Coin.
Actually thats not quite technically true.....
What was the deal that happened when Soopy and shahim (the original devs) "left" ? And Craig took over? If I recall correctly there was a LOT of coins that were NOT claimed and there was talk of burning them but that was like 18 months ago maybe. That was going to go towards a dev fund...... Perhaps someone could clear that up? I certainly don't expect the devs to work for free and Have given them many donations over the years that are worth tens of thousands of dollars today but yeah I would like to know how much they hold but more importantly what happened to the coins that went from Summercoin to nav and then Nav v1 to Nav V2?
so how many coins didnt get claimed?
is the dump already over or are we still waiting for the mega dump to come?
wtf is this? so there was actually a coin switch with millionns of coins not claimed and nobody knows where the coins went?
GOOD PROJECT
GOOD COMMUNITY
good russian scam
No, definitely not a scam. As I said I have been with this coin for over 3 years.
As far as I am aware there was a date set for people to exchange old coins for new, then in addition to this the devs did offer to convert coins manually for people long after the deadline passed.
There is more than likely a very simple explanation, but like the Soopy "cloak and dagger disappearing act" it hasn't been relayed to the community very well if at all.
As far as I know the remaining coins were used to pay development: Servers, press releases, marketing, etc. Bear in mind last year NAV's price was 10 times less than today.
Soopy and Strugg leaving the team I think it happened over time. Less and less involved. I think there wasn't an announcement.
Those are things more for Craig to response.