Re: {ANN} Square - POW/Distribution Hybrid 5 Million Max - Launch 07/01/14 !
interesting coin but you should remove premine
Devs don't get any of the Premine. Check out the description of the project in the OP. We have to participate like everyone else. The entire 3.5 mill coins will be sold for 750 sats on Bittrex. This is a great entry level price for a low quantity supply.
We are even considering 500 sats if we get the community support.
So....if I get it right:
1. You premine a fiction coin.
2. You sell the premine to people for ~26 BTC even before they mined some.
3. You just get the BTC and leave.
Anyone else share my thoughts ?
Good call out Sony87.
Lets look at your perspective from a different angle.
1. The "pre-mine" which has been completely transparent throughout the coin launch, is being offered to investors at a price that maximizes distribution. The thought process behind the large percentage of IPO coins was to limit the need for crypto enthusiasts to mine with GPUS and allow the asics to support the network. The pricepoint enables this low barrier to entry for the masses.
2. Our team pays for quality work. Like it or not, if you want to see a project flourish long term, it will need funding. We want to tap into the wide ranging skill-sets of the crypto community to make Square become a standard in crypto.
3. Although always a risk in this space, all we can do is give our word and live up to the examples we have demonstrated thus far to our commitment to the project. I personally have never been more excited to be running a project in the crypto-space and all I want for this project is for it to succeed.
I genuinely respect, and understand your concerns. All we can do is demonstrate our commitment to the project through actions. Lets work towards a successful launch at noon est tomorrow and take it one step at a time from there.
Thank you Sony87
Sorry my skepticism but i don't follow your idea simply because when you sell all the premine you don't have more coins that will stimulate you to rise their price. You got BTC and no shit coins, what would be the point to stay and support coin that you don't own ! I like the gibberish and good taken work for the masses but i have been seeing this pattern for so long.
No apologies necessary. We are placing a buy order for 1 BTC on the market launch day. We will have buy-in. The IPO funds can be monitored through the block chain explorer. After our purchase we will post the dev wallet (purchased coins) and identify a transaction that allows all to see we are invested.
It is only fair that, as a start up, we source funding for the coin's development beyond our own pocketbooks. This is how most start-ups work
. I believe in this coin, and I am personally allocating over 600 dollars to purchase the coin during the IPO distribution. Beyond everything posted above, I cannot convince you anymore, nor should I feel compelled to. Honestly we have all seen our fair share of disappointment in this space, all we ask is for a chance to demonstrate. Lets let the market decide and the calibre of our launch dictate the course forward.
I really appreciate the honesty and criticism though Sony87. The crypto space needs more of it in my opinion.