Post
Topic
Board Announcements (Altcoins)
Re: [FIBRE] | 650k | FibreConnect | FibreDark | FibreLock | Cryptsy,Bittrex,Poloniex
by
DFJ
on 07/10/2014, 18:19:40 UTC
OK putting on my financial engineer hat, because I think we can do better than donations.  My suggested structure follows, which meets the goal of raising money, without hurting current investors or creating some unworkable two coin structure (i.e. hurt current investors...):

1) Fibrelite is a new coin, that Fibre holders are able to convert to.  Fibre will cease to exist some period after the conversion.

2) "Baseline" # of coins in Fibrelite is the same as Fibre and Fibre holders can convert 1:1.  Thus there is no dilution
2a) But now you say then no money is raised, so what is the point

3) "Upside" # of coins in Fibrelite are the ICO.  Selling price is whatever the price of Fibre is at the start of the ICO (or some average over the last X days, whatever).  However many BTC come in from the ICO dictate how many "Upside" coins get actually released, the remaining unsold coins are burned.  Maybe some BTC target is set, but the key point is the unsold coins (if any) are burned.

4) Net result is that the value of Fibre holdings = value of fibrelite holdings in BTC for current fibre investors (because price is the same and # of coins held by individual investors are the same), but since new coins are sold in the fibrelite ICO, devs get the money they need to maximally execute on their awesome plans.

Comments / criticisms?  Let me know if any of that was unclear.  May need some tweaking but I think this is straightforwardly feasible from a tech perspective and best achieves everyone's objective.  



From a communication perspective, maybe you say something like the following:

1) Fibre is a great coin, and the worst case is that we continue to develop aggressively to grow and meet our goals

2) But we have even greater goals to create value for investors that we can execute on with new funding

3) Therefore we are considering a "v2" upgraded Fibre, ie. Fibrelite, which would have an ICO to provide that funding

4) We are 100% committed to not only protecting Fibre investors, but making sure they as early supporters get all the same upside in Fibrelite, which we think will be even greater for them than if we simply stay on the current course and develop fibre only (which is an option, but not one we think is the best)

5) To achieve (4), the ICO will have the same coin price as fibre, and new coins will only be created pro rata to new invested BTC coming in.  Fibrelite will also benefit, because potential investors will know our level of commitment in return for their support