Quote from: mishax1 on October 30, 2014, 05:52:41 PM

Quote from: xenmaster on October 30, 2014, 03:22:45 PM

Additional terms:
- Zencoin will NOT be usable or transferable until the launch of the genesis block with the official Zennet platform release.
- Ongoing Zencoin generation, similar to mining, is not planned for Zennet. Upon the launch of the genesis block, all coins will be distributed to their owners, except for 8 percent of the Zencoins that will be retained for the Zennet Team, and another 8 percent of the Zencoins that will be retained for community applications and bounties.
- An additional 4 percent of the Zencoins will be retained for supporting initial network growth. These coins will be spent on the network to create resource demand and incentivize the joining of new nodes during the early stages of the network. These coins will be fairly distributed to the network participants as they will be used to continuously rent computing resources until the coins are exhausted, in order to bootstrap fast network growth and early adoption.
- All other unsold coins will be destroyed when the official Zennet network launches.
- The estimated launch date for the genesis block is Q3 2015. Up till then we will be working hard on developing the product. We have already recruited a full development staff, and have began development months ago.
- The tentative date of the pre-sale is mid-November (currently 11/11 is planned, though this is subject to change), exact date will be published ahead of time.
- Zencoin is a token being used only for a certain commodity (namely computational resources). It is NOT a security, a currency or an investment offering. Zencoin is simply a token useful for renting computational resources on the Zennet platform after its development is complete; it does not give you voting rights over anything nor shares in some kind of profit, and we make no guarantees of its future value. Also, we do not and will not make any plans to make Zencoin a general purpose currency. It's solely intended to be used within the Zennet network as an in-application computational resource credit.

hmm what ?

10% will be sold to "investors" , 8% for you, 8% apps&bounties , 4% some initial network growth (what ever that is).
That's 30% of an unknown amount. and you destroy the 70%?

I.. don't.. what? how..?

People that rent their power getting paid in zen or btc?
If it's in zen then where do I get zen after the IPO ? off the exchange?

80% will be sold. 10% now for price discovery. but the plan is to sell them all before the genesis block. if we won't be able to sell them all, we'll destroy what remains. the dedicated 4% will be spread to the people. the remaining 16% will be used for building and maintaining the products etc.
people rent their power are getting paid in Zencoin.
There will never be an IPO since it's not shares we're talking about. We sell a commodity.
The tokens will be distributed to their owners when the network begins working. We might consider a slow distribution in order not to flood the market.

xenmaster

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