Post
Topic
Board Announcements (Altcoins)
Re: [ANN][BRO] Breakout Coin Genesis Sale | Proof-of-Bergstake | Poker | Fantasy
by
tx42
on 18/11/2014, 00:00:48 UTC
Agreed, destroying the unsold 8M is NOT an option since the Devs share of 2.5M will then account for more than 50% of Bergstake power.

Yes, a plan should be in place to prevent the consolidation of stake into a 50+% holding.

One way is to award devs the coins but to sell the Bergstake in a separate public offering, allowing ICO investors to keep the Bergstake they have because they have already bought it. It's not a good idea to give the devs 50+% power over the blockchain, no matter how well intentioned they might be at this stage of the coin's life.

This is the main reason why Bergstake should not go to private buyers. If they have better knowledge of the gaming platform than public buyers, then they could get a better much better deal if risk is factored in. There would be a strong incentive to accumulate as much Bergstake as they could, simply for easy profits.

Right now risk is very high. If a platform becomes available between these public offerings and a private sale, then the risk plummets. You can put numbers to all this.

When I bought, I felt like the chance of these developers delivering a working platform was about 15%. That means, to break even, I have to feel like the ROI is going to be at least 667% given a working platform. That ROI includes the value of the Bergstake for several years. If I expect the value of the coins themselves to increase 4 times, then the Bergstake must be equal to 267% of my investment. Remember that is to break even given my risk estimation.

If the platform is working and provable, then the chance for break even just on the value of the coins is going to be 100%. That means a private seller can buy coins and stake and then sell just the coins at cost for an immediate 267% profit in Bergstake.

The BRO devs need to think about these issues carefully when deciding how to handle unsold genesis coins.