I'm not a fan of alcohol, but the idea of a project is interesting. Interesting thing, how much time could it take to form a buy-back mechanism?
We calculated that we may generate an average net return of 9% p.a.. If this is the case the asset backed mechanism could be activated in a year, starting from the end of the ICO.
I can only imagine the mass adoption of this token. For instance, if you want to buy a bottle of lets say my favorite Caol Ila, you have to pay taxes. If you import spirits, you will still have to pay excise to your local tax office. How it is going to work wit this coin?
Thats true we still have to pay taxes.
But we already considered this in our calculations. The cost though is pretty high but not as substantial as it would break our business model.
So in germany we have to pay 13,03 per liter of
pure alcohol so a 700ml bottle with 40% is going to cost us 3,65 in Taxes. Since we are targeting high end whiskies the percentage "lost" diminishes the pricier the whisky gets. So if we bought Whisky for 30 per bottle, the tax alone would cost us 12.1% of the value of the whisky. A 200 bottle, however, only 1.825%