Re: ANN:BCT COIN, SHA3-KECCAK-BITCOINTALK COIN [BCT]-POW / 1st Place on MINTPAL
Yes de
The current working model of the charities requires conversion to fiat money (via BTC), thus price will drop at the time these coins are sold.
One can however control the amount of coins that are released to charities (as maccaspacca also noted), to counterfeit that.
This rises another question, who is going to manage charity share of coins and what policy will be chosen on when to sell these coins.
+1
dev please dont sell all charity share's coin at once, or let community to decide how and when to sale
Something i have always wondered about charity coins...
As they need proper currency, not crypto, the BCT must be sold for BTC which can then be converted to cash.
Surely with such a huge amount of coins, the price will be held down as these are sold or smashed down if they are sold quickly.
I'm not criticising or FUDing, just asking if that is how it will work. If it is, others may be nervous about investing.
Actually very valid point. As they need proper currency, not crypto, the BCT must be sold for BTC which can then be converted to cash.
Surely with such a huge amount of coins, the price will be held down as these are sold or smashed down if they are sold quickly.
I'm not criticising or FUDing, just asking if that is how it will work. If it is, others may be nervous about investing.
The current working model of the charities requires conversion to fiat money (via BTC), thus price will drop at the time these coins are sold.
One can however control the amount of coins that are released to charities (as maccaspacca also noted), to counterfeit that.
This rises another question, who is going to manage charity share of coins and what policy will be chosen on when to sell these coins.
+1
dev please dont sell all charity share's coin at once, or let community to decide how and when to sale
+1
I think the key thing will be full transparency, something that this dev has given us fully up to now unlike similar coins
There hopefully will be a number of ways that charity coins are distributed / sold / dripped to the market over a longer period of time. Charities sometimes need big lump sums but for the most part regular contributions are better, fitting this coins purpose better.
Dear Members,
First of all we thank you for all your support and faith you kept on us till date.
Coming to distribution of funds to the charities there is nothing hurry to give them with in next few days.If we can slowly create big amount of BTC and convert them to USD,Pounds,Euros, etc. and donate it to
them that will fulfill our dream of helping the charities and the effort we kept for this coin from past few months.
We once again confirm you that every amount given to the charities will be 100 % transparent as we are till date and every proof of donation will be posted here on thread.
Before distributing we will take basic steps like mentioned below.
1.We will divide all the BCT we have for the cause in to weeks (example: 0.01 Million Per week) and send them to market.
2.Every amount converted to BTC will be posted here on thread.
3.Once we reach a reasonable amount we will pick few causes and keep for voting here.
4.Depending on the voting, amount will be distributed to the charities in order.
5.Proof of receipt will be posted here on thread.
Finally we promise that every single Satoshi we generate here will be given for the cause as announced in the beginning.No changes in that.
Thank You once again.
Regards,
Team BCT