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In the VIDC100HOURS Terms and Conditions ,i have somethings not clear.
1, when i buy VIDC100HOURS ,i get 900 ores, and this 900 ores could forge into GadgetCoin.
After I forge into GDC, I still have the VIDC100HOURS contracts? Am i still the Contract owner?
And still get the GadgetTokens? As below says:
vi. Allocating the daily commission pool (DCP) to the VIDC100HOURS contracts equally. For example, if daily commission pool (DCP) is 1,000 GadgetTokens and there are 100 existing VIDC100HOURS contracts on the Network, then each VIDC100HOURS contract balance will be increased by 10 GadgetToken.
vii. Paying out the commission to the Contract Owner. For example, if each VIDC100HOURS contract receives 10 GadgetToken and the Contract Owner owns 5 VIDC100HOURS contracts then the Contract Owner receives 50 GadgetToken.
2, Buying VIDC100HOURS get profits from the GDC price rise, or the daily GadgetToken back ?
3, as it says
ix. Calculating the total number of daily base of the commission per each VIDC100HOURS contract. Once the total number of daily base for the commission reaches 100 hours then the contract is marked as completed and will be terminated by the Network.
As times goes by, all the VIDC100HOURS will be marked completed . And there will be no VIDC100HOURS holder. what is your plan after that time.?
waiting for youˇ
1, when i buy VIDC100HOURS ,i get 900 ores, and this 900 ores could forge into GadgetCoin.
After I forge into GDC, I still have the VIDC100HOURS contracts? Am i still the Contract owner?
And still get the GadgetTokens? As below says:
vi. Allocating the daily commission pool (DCP) to the VIDC100HOURS contracts equally. For example, if daily commission pool (DCP) is 1,000 GadgetTokens and there are 100 existing VIDC100HOURS contracts on the Network, then each VIDC100HOURS contract balance will be increased by 10 GadgetToken.
vii. Paying out the commission to the Contract Owner. For example, if each VIDC100HOURS contract receives 10 GadgetToken and the Contract Owner owns 5 VIDC100HOURS contracts then the Contract Owner receives 50 GadgetToken.
2, Buying VIDC100HOURS get profits from the GDC price rise, or the daily GadgetToken back ?
3, as it says
ix. Calculating the total number of daily base of the commission per each VIDC100HOURS contract. Once the total number of daily base for the commission reaches 100 hours then the contract is marked as completed and will be terminated by the Network.
As times goes by, all the VIDC100HOURS will be marked completed . And there will be no VIDC100HOURS holder. what is your plan after that time.?
waiting for youˇ
Yes, of course you have the contract until the 5% commission of 100 Hours streaming for a minimum of US$ 900.00 is completed. The system pays off the 5% based on the Contract ID, and therefore you must have the contract. The 900 GDC is only the medium of exchange to facilitate a transaction between the models' smart contracts and VICR smart contracts. I know it sounds complicated, but implementation wise it is a relatively simple smart contract.
The reason the contract was complicated with the forging is because this way every steps of the process are traceable, auditable and verifiable. The models/broadcasters must buy GDC in order to cash out - otherwise they simply unable to get their cash and since only VICR contracts have GDC (or even if others would have GDC the VICR contracts are the first in the queue of selling GDC to the broadcasters) with this mechanism we can address traceability and audit requirements.
Also, combining the contract with forging allows speculative manoeuvres with the contract. For example, as we have explained already, if you expect a higher price than US$ 1.00 then you can pause the execution of the contract, wait until the GDC price reaches our 6 months target which is US$ 5.00 and then start selling the GDC to the models. In this case, let say if the price is US$ 5.00 you will get the US$ 900.00 for the contract by selling only 180 GDC, and the remaining 720 GDC you can sell for the price of US$ 3,600 permit the price is US$ 5.00.
Please let us know if you have any questions.
So if I don't pause the execution of VIDC100HOURS, my GDCs will be automatic sold out partly everyday ?
GadgetToken could be got every day? this is no GadgetToken either I pause the contracts or not ?
Yes, that's correct, pausing is optional and if yo don't pause the contract then part of your GDC holding will be sold to the models/broadcasters every day (once the models are cashing out) until the 100 Hours is completed. One of our angel investors asked this option as he speculates for a higher than US 1.00 GDC price.
GadgetToken is an entirely different entity, it is the token purchased by the video viewer customers, and yes, it can be purchased everyday. You can't do anything with GadgetToken except pay for live video shows or later when the implementations and use cases expand pay for all kind of services on the GadgetNet network. GadgetToken is an internal token to convert the FIAT and BTC of paying customers into an entity that is manageable by the smart contracts. It is always pegged to US$ 1.00 based on a mechanism of the Bitshares pegging concept. The paying customers normally know nothing about digital currencies, they just want to watch some live adult or gaming content and they pay for the service buy buying GadgetTokens for BTC or FIAT.
Got it, Thanks!
