Quote from: willieccd on December 17, 2017, 07:27:52 PM

Quote from: Gandalf86 on December 17, 2017, 04:17:39 PM

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

They cannot even sell it as ESP doesn't have any buy support on exchanges mate..