Post
Topic
Board Announcements (Altcoins)
Re: [ANN][SWAP] WISPR.TECH | 100% PoS 3.0 | MASTERNODES | 25% ANNUAL ROI!
by
willieccd
on 17/12/2017, 19:27:52 UTC
For everybody confused here, I would like to explain what is the difference between an ICO and a coin swap / chain swap.

ICO:
  • A new developer starts a new project and wants/needs to acquire funds.
  • The dev will premine a certain amount, and sell the premined coins to the new users.
  • Users pay with an existing currency or coin (a different project), and receive coins from the new project.
  • The dev keeps the money and will cash it out later.
  • The currency users paid with, continues to exist (otherwise there would be no point in wanting to "cash out").

Swap:
  • A developer of an existing project wants/needs to base his coin on a different chain.
  • The dev will premine a certain amount, and instructs every user of the current chain to take the swap procedure.
  • Users send in their coins from the current chain (same project), and receive coins from the new chain.
  • The dev abandons the previous chain, mining stops, the swapped and unswapped tokens of the old chain become worthless.
  • Dev does not gain any money, it's just done for the purpose of switching the chain.

Now we look at this project:

  • New project, new vision.
  • New developers.
  • The money users pay with comes from a different project.
  • The other project (Espers) does not get abandoned and continues to exist.
  • Dev keeps the money with the goal of cashing out later.

Ergo, this is an ICO. So you shouldn't call yourself a swap, this has no characteristics of a swap at all.

So I guess the relevant question here is: Why do you only accept ESP? And btw., how much ESP does the entire dev team hold together? This would be similar to a premine, so it should be made public.

this is what i was asking about, seems like a quick money grabber using masternodes hype, would be glad if the espers they will get is burned