Anyway Arlyn is too shady to do not share the algoritm with the people that bought them.
The price was just changing according to the current price of the alt in 10 min there was a 500 block difference on a 3000 XC buy.
The algoritm was said to be calculated on an avg of prices over a period of time. None was thinking that that period of time was form the begginning to the End of the ITO. It should have been for example from the announcement day till today.
You would have released a fixed price for all coins and that was what we were getting. The price was not fixed. This was another messed up thing that happened during this morning and people ended up getting less blocks for their alts. Meaning More Alts for the faundation.
Now if you wanted to start with the wrong foot you did it. Now it looks shady....unfortunately.
Plus there is the 10% discount mess up. Plus Xcash mess up. Plus XST people sayng they were not able to buy in from the beginning.
You have many things now where the fudders can fud UNFORTUNATELY.
UNPROFESSIONAL.
Here are the latest updates from Coingateway
An update from CoinGateway:
Coingateway has about 40 tickets in-process for payments.
Once those are done, they will do the 10% payouts.
This is likely (but not certain) to happen at around 21:00GMT (5pm EST).
Update on CoinGateway's pricing algorithm:
we looked at volume and set a btc amount
but [the algorithm] is confidential tho i rather not disclose that
let say Bitswift for example
we look at what it takes to buy 0.2 btc worth of bitswift and average the price around that
differnet alt usually have different btc volume equivalent depending on their volume
Yeah, mxxxxxx, those posts you quoted don't address any of Cryptico's (and mine) thoughts on the situation. I was under the impression that the altcoin:BLOCK exchange rate would be fixed, was this not the case?
Ultimately the Blocknet foundation don't know the exact figured raised by coingateway (impossible without knowing the algorithm) so who's to say they didn't set an algorithm that raised 600 BTC for example and gave you guys your 500 BTC (20% of 2500 BTC) and kept 100 BTC for themselves? Do you understand my concerns here?