Post
Topic
Board Announcements (Altcoins)
Re: [ANN] [SCSY] Securitysyscoin LAUNCHED | POD | HEFTY1 PoW only | Exchange soon
by
michaelb87
on 28/10/2014, 13:58:01 UTC
Was 40,000,000 Genesis block for ICO buyers only???
Does each ICO investor get this many??
Does that mean only few people will control 25% of coin??



No, the 40 million was based on 20 BTC cap for the ICO. But there is only a fraction of that amount sold, so the rest of the coins are destroyed.
If 1 BTC is sold in the ICO, then only 1/20th of the 40 million coins will be distributed via ICO. That would be 2 million. The total amount of coins would then be 120 million + 2 milion = 122 million so the ICO is just a fraction of the total amount, not even close to 25%

Just check the spreadsheet for total amount sold. I believe it was even under 1 BTC.