I am sorry, but this just looks like a hybrid of a normal coin with the IPO crap we have been seeing lately. I think the bitcoin backing of the POS is a very interesting and novel approach. Something that will provide value to the coin as people are going to want to own them in order to share the bitcoin earnings.
At the same time, the IPO part of it leaves a bad taste in my mouth. You don't call it a premine, but it is essentially the same thing. You are taking bitcoins in advance of the release instead of the coin itself to cover your costs and profit. Isn't that the same thing?
Considering the circumstances i would not consider it the same thing as a premine per definition.
This is not a normal scrypt coin, 99.9% of all other coins launched in this subforum have the only intention to hit Cryptsy, be dumped and then slowly be left to die. No other coin will continue to daily generate value to its holders like HAS will.
Yes, part of the point with donations is of course to cover part of our costs so far, to help pay for some of the bits that still needs to get in place for the release and to maybe help to speed up investment rate, we do not claim to be Robin Hood.
We of course want our piece of the cake and want in on the ground floor.
The intention is of course that this coin instead will generate income to ourselfs, the donators and the miners...
We after some discussions calculated that creating this coin would be more profitable over time then to mine ourselfs directly.
This is a calculated risk we take, it is nothing we hide and nothing we are ashamed of.