It is just a very poor, unfortunate decision by the dev team that, obviously, will not work. It has ZERO chance to work.
The dev team simply tried the impossible, which is to please everyone instead of doing the proper thing which was the initial plan of letting the market itself determine the price. This is going to be a mess in the end, I'm afraid.
What does working mean? You are assuming that Breakoutcoin is like all the other scam alternative projects that need bitcointalk to stay alive. Breakoutcoin should be less reliant on Bitcointalk then just about any other alternative crypto project. I would hope David Hanlon and the rest of the Breakoutgaming team isn't relying on Bitcointalk for the necessary funding. FFS, he was the Chief Operating Officer of the Rio Hotel Casino. How could they not have alternative funding sources outside of this sewer of a forum?
Barabbas, I would agree with you 100% if I thought this offering was the only funding source, but this project has too many well known players for me to believe that's the case.
Agreed, BRO Dev team members are googleable public figures, located in Silicon Valley. BreakoutGaming can easily raise few million dollars from VCs if they want to.
VC firms are very eager to invest in Fantasy sports & e-sports these days:
Fanduel raised $86.2 Million in funding:
http://www.crunchbase.com/organization/fanduelDraftKings raised $76.4 Million in funding:
http://www.crunchbase.com/organization/draftkingsInvesting in crypto startups is also very appealing to VC firms and institutional investors:
http://www.futuresmag.com/2014/11/10/institutional-interest-in-bitcoin-surges-as-tradinI think the reason behind announcing BRO ICO on Bitcointalk is to not only give crypto community an early shot at this ICO, but also to allow for a fair distribution that's necessary to secure the PoS (PoB) network by ensuring a large number of active nodes, as opposed to raising funds from just a couple of VC firms.
Yes, you are 100% right.
I still don't understand why these guys can't simply gather up $250k(~700BTC) from their celebrity endorsers. Something isn't right.
This is an opportunity for the crypto community to participate in the coin sale. We are offering the crypto community first chance at the coins, The sale purpose is to:
1. Offer the crypto community first chance at the coins and Bergstake.
2. Spread the coin to a wide and diverse group as possible.
3. If the crypto community does not reach the proposed amount, we will be taking it to a private sale as you suggested
4. If we didn't offer the general public the chance at the coins first, there would be a chance of negative reaction.
5. There has already been significant investment in time and money into the project.