Quote from: DistributedBUZZ on June 15, 2014, 10:15:11 PM

Welcome to the official SWARM thread!

The official Swarm crowdsale has started and we are proud to share that we have reached our presale target of 500 BTC!
Please go to http://swarmcorp.com/ and buy yours with Bitcoin

SWARM = Cryptoequity and Distributed Crowdfunding

Total Cap: 100,000,000 SWARM coins

Presale
Target: 500 BTC (achieved)

Phase One:
June 17th - June 27th
Target: 4000 BTC

Phase Two:
TBA - July 20th
Target: 17,000 BTC

Platform: Counterparty

Phase One consists of 4,000 Bitcoin; people participating on day one will receive 5,250 SWARM coin per Bitcoin. As more Bitcoins are received, the number of SWARM coin distributed will decrease to 4,750 until the end of Phase One. After a short cooling-off period, there will be a Phase Two with a 17,000 Bitcoins cap with a conversion rate of 4,250 SWARM coin, decreasing to 3,750 per Bitcoin until they are all gone.

SWARM is a distributed crowdfunding platform. If you buy SWARM coins you are rewarded by the trickle of equity from all the businesses that are chosen in the SWARM network. For example, if you have a great Bitcoin business idea you can get it funded by SWARM. The business would issue their own token on the Counterparty protocol and have a percentage of their equity funneled back to the SWARM coin holders automatically.

The beauty of this is that you dont strictly need venture capitalists to fund the businesses. The capital comes from all the participants in the network who are SWARM coin holders. Unlike Kickstarter you now have a stake in the companies you fund because the token can be traded on the free market. The SWARM network decides which businesses they want in the network by due diligence and voting with their SWARM coins.

Check out http://www.reddit.com/r/Swarming/

Details:
  http://www.coindesk.com/swarm-take-bitcoin-crowdfunding-new-heights/
  http://bitcoinmagazine.com/13763/swarm-redefines-crowdfunding/
  http://cointelegraph.com/news/111694/swarm_crowdfunding_with_cryptocurrency_2_0_technology
  Click here to see much more articles

CEO Joel Dietz (https://www.linkedin.com/in/joeldietz):
"The Oculus Rift raised over $2m dollars on Kickstarter and then the owner turned around and sold it to Facebook for $2bn. What did the participants in the crowdfunder get? A t-shirt?

Here is how the value of Swarm Coins will break down:
At Day One of Phase One, one BTC will be worth 5,250 Swarm Coins. That price will gradually decline.
By the last day of Phase One, one BTC will be worth 4,750 Swarm Coins.
At Day One of Phase Two, one BTC will be worth 4,250 Swarm Coins. The same gradual decline applies.
At the end of Phase Two, one BTC will be worth 3,650 Swarm Coins.

To understand progress on IPO, check out
1) Swarm homepage: http://www.swarmcorp.com/
2) Check BTC deposit: https://blockchain.info/address/12GZL7shupvmHapCmhw81GDa5GmaTqaZdk (add 500 BTC and devide by 4500)

Hmm.. so people need to give 13 million dollars (21,000 BTC) to crowdfund a platform that will then allow other people to give even more BTC to crowdfund other projects that are put on the site? Not sure what I'm missing here.

Everyone give me 13 million dollars so I can pay for my estates in Malibu, Miami and Ibiza.. meanwhile I will set a small portion of the funds aside for this crowdfunding platform that will allow other people to crowdfund other projects like mine by trading our pre-mined coins (stakes).

This screams scam from the highest reaches of planet Earth.