Regarding escrow funds and going forward:
They are safe in a cold wallet and the coins no longer need to be sold at 10k prices. James donated them back to the community, and per his request, that we whole heartily agree with, no action will be taken with the coins without a community vote to decide.
Track the escrow here:
https://chainz.cryptoid.info/vrc/address.dws?VECuyuNjLDh437hJfABSxV1817D982S4H6.htmJames offered an impressive gesture of commitment to our community with this action and I thank him for that. He still has incentive, he has his own personal stash of VeriCoin he purchased on the market. We the community will discuss with James about how the funds can be used for this project. There are some escrow requirements for SuperNET inclusion and so on, some things are yet to be determined as this is a new platform being built. The discussion will continue on how to build VeriCoin into the SuperNet, while also continuing to build the independent VeriCoin wallet and network as before. There are only more things to be gained now.
Congratulations to the VeriCoin community for coming together to meet a BIG goal in a SHORT time, it shows the true commitment and power of our community working together! By sacrificing a bit for the best of our community, technology and investments, we can achieve and will achieve great things going forward!
Thank you all for your efforts, time and resources! We all will continue this discussion and work with James regarding adding advanced technologies to VeriCoin through a new additional infrastructure, and we are on track with our previous roadmap too, as things are coming in the near future.
Doug
Thanks for the update, Doug. I'd like to discuss this a little more though. Since the expectations of our contributors were either to get their VRC back at 10k satoshis, if successful, or a full refund if not, I think we should make sure we're sensitive in light of this change in plans. I encouraged a lot of people to give and told them that this was the deal, so I feel like this is sideways from expectations.
Can we come up with a response to anybody who contributed and was still expecting to get their VRC back at 10k sats? Maybe if the price hits 50k and then 100k, we can give back 10-20% to the original contributors from this fund. For example, if someone donated 10,000 VRC and the price hits 50,000 sats, we can give that person back 2,000VRC.
Thanks,
BagHolder
That is not how it goes, you guys need to lock up a large % of the float, so jl777 and his minions can trade around this smaller float and rip off all the people who think they are getting some amazing deal. He calls the shots, he is making the current momentum by his own admission. Why do you think he donated anything to the community? He never planned on it reaching 100k, His goal is to get people to see a big picture, and then he will profit before the painting is even made.
He can time everything to profit big time, All he has to do is speculate. And you all drive the price up. Its seriously shocking how little thought anyone has gone into this deal. If, and I say If, this turns out to be a scam, or more likely inability to create something valuable, you all deserve it, in spades for being so ignorant and greedy.