Quote from: Moon Follow Me on July 21, 2014, 12:43:15 AM

Quote from: Storj on July 20, 2014, 09:27:16 PM

Quote from: Moon Follow Me on July 20, 2014, 09:01:28 PM

as far as i understand dev wants to sell 70% of all coins for 9,800 BTC (~$6m) on crowdsale, leave 15% for yourself and another 15% for giveaways. you must be a fool if you are going to invest in.

We do not intend to reach 9,800 BTC. The main point of this crowdsale is to cover our costs up to this point along with providing funding for the future. The crowdsale will go to developer salaries (several people are working full time on this project), development of new protocols and applications, and marketing. The community pool and the developer pool are ways for outstanding community members to be rewarded for contributing to the project.

A majority of altcoins released today have premines held completely by the developers. Storj changes this by allocating half of these funds to the community so that we, the developers, do not have all of the say.

1-3% premine is ok. good devs deserve some profits. but 15% is something beyond my understanding.

if we suppose that you collected just 1k BTC then investors get just 1/10 of 70% and the rest goes to dev. heres simple math 70-7+15+15=93.

it means that dev holds 93% of all coins + $600,000 collected in crowdsale. just great LMAO!

plus, you are not a public person who we can trust. you don't even have whitepaper. this is probably scam.

verdict: no, thanks. pass.

If you read the Terms and Conditions, it will show that we (the developers) are not keeping the left over SJCX. That would be pointless as we would have no use for hundreds of thousands of coins.

We are taking most of the leftover coins and actually distributing them into the market for users to farm and get from the work they do. Users will use Driveminer to get these left over coins.

Yes we need funds to operate (all listed in the terms) but we are letting the users have access to the left over coins once the crowdsale is over.

In terms of our identity, those can all be found in the deck and our team members have disclosed their identity and pictures even. All of our emails are available if you would like to contact us directly, along with our phone numbers as well; just let us know if you would like them.

If you head over to the Storj forums or the subreddit, you will see that our head developer, Shawn Wilkinson is currently working on a revised white paper which will be published soon. The older one is available on the forums as well if you are interested but that one is slightly out of date.

Does that clear up some of your confusion?