thanks for your answer. one last question concerning the pricing using the NHZ example again:
what does prevent a NHZ whale from pumping the BTC/NHZ price and putting a decent buy wall a few hours before the ito starts increasing its recent average such that the token/NHZ price will be determined to his favour and then selling a lot of NHZ for an awesome price. i mean the buyers of the NHZ wont have any disadvantages as in that case the token/NHZ price is determined so that they can buy the blocknet token for the 10% discount, so that they actually wont care about the high BTC/NHZ price.
What prevents whales pumping NHZ is that other whales could equally cause NHZ to dump, buy them cheap, and get more ITO tokens.
sorry, but it would not really make sense for a whale to dump NHZ with just the pure hope of panic sellers in order to get more NHZ to get more tokens. besides the fact that this is not even garuanteed to work out, simple considerations show that pumping would be a good option and dumping not really:
if a whale pumped the BTC/NHZ price then the NHZ/token price would decrease (as the BTC/token price is set to 2500 satoshi), which means the whale could buy much more token for his NHZ. whereas if a whale dumped the BTC/NHZ price (and bought back chepaer) he would not necesessarilly get more token because a lower BTC/NHZ price means a higher HHZ/token price.