i sent btc from counterwallet to address on swarm website it has been around 2 hrs still have not received. any ideas how long it takes?
4 confirmations before it is sent out.  Looks like some especially long blocks recently so probably it is just a matter of waiting a bit longer. |
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Haven't seen this been answered here so I'll ask again,
What is the XCP/Swarm rate from the IPO and how does it calculated ? Is a fixed amount ? Is calculated by the market price ?
Is this like a national secret or somethings ? Oops, the spreadsheet link was posted on one of these earlier pages. Let me search for it again. Ahh, here it is: https://docs.google.com/spreadsheets/d/1HAQDLO2MYDuoGcJ3HeO-rFxCNQShtvtY_PeooHhHhpg/edit?usp=sharingShort answer it is market rate with no preference for XCP, calculated the same way BTC is calculated. |
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I will ask again... what happens if there is NEVER a second fundraising phase?  Not quite sure how to answer. If nothing happens than nothing happens. Those 68,000,000 coins will sit in some locked account and potentially we could even burn them counterparty-style. The ability to burn Counterparty assets doesn't exist right now but I know PhantomPhreak has considered adding it in. |
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If YES is voted and you only distribute 24 million SWARM, the investors are essentially only getting 24% equity in the company, and the founders are holding on to the other 76% instead of 8%? Is the company able to vote with those SWARM? Will us investors still get our 92% if 68 million SWARM are not being distributed? That's not quite correct. Swarm will not be able to use the 68,000,000 SWARM. They will be held in a special locked account. As with anything on the blockchain, you can easily see where they are and if they have moved. It seems like we should be getting our equity, distribute all 92 million, and then later be able to vote if we want to give some of our equity away to raise more money.
This makes sense conceptually but in a decentralized system like Counterparty once an asset is locked, it is locked forever. Right now there is no possible way to take back SWARM from people who have it or to issue more SWARM. I think that's generally a good thing, but it does make any sort of system such as you describe more or less impossible. |
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In this scenario I wonder how much more will SWARMPRE2 be? 10x? Or does it depend on how awesomely SWARMCOIN has been developed at that point? Is it not standard to assume early investors SWARMPRE deserve a much better rate than later investors who get to see an actual product SWARMPRE2?
It definitely depends on awesomeness. And it's quite reasonable to assume that early participants deserve a better rate. I hope by that point we are able to do some sort of better price discovery mechanism than currently exists in these not particularly liquid crypto markets. |
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I hate to reverse myself, but I was just reading this article on " The 10 Most Funded Kickstarter Campaigns Ever" and I would really like the first serious crypto-crowdfunding campaign to get onto that list. Unfortunately that means raising $3,401,361. Let the votes come in! |
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If phase 1 is filled. 1 btc = 5333 average swarmcoin. Swarmcoin goes onto an exchange and coins are bought and sold.
Then at some stage in the future, phase 2 starts with 68 million swarmcoin up for grabs. What if it is not filled and after dividing out the 68 million, it works out as 1 btc = 20,000 swarmcoin?? Are the initial investors getting a raw deal and will the price collapse at the exchange?
Im sure i am getting this wrong but pls help me understand whats going to happen.
Here's one possible scenario. We issue a SWARMPRE2 for the second round. 34 million out of 68 million are sold. This makes 24 million SWARMPRE and 34 million of SWARMPRE2. SWARMPRE holders each get 1 SWARM per SWARMPRE, then SWARMPRE2 holders each get 1 SWARM per SWARMPRE2. Then the remaining 34 million are distributed proportionally to the holders of SWARMPRE and SWARMPRE2. That's a bit complicated but it would avoid the problem you mention. Keep in mind that any proposal like this would be put to a vote for SWARMPRE holders to decide. |
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Great news and great work!
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+1  |
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Some good feedback from community members and well put responses from fractastical has swayed me to the yes side. I am as excited as I was when I first decided to buy swarmpre. The future looks bright...... I gotta wear shades.
You should take a picture with the shades and post it   |
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@fractastical do you have an estimate of how long this process will take? Thanks
Less than four months. |
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So you put swarm's fate in the hands of our votes in a decision that could make or break swarm with people who aren't necessarily capable of making that decision?
Taking a bunch of yokels who settled in the new world and letting them construct their government from scratch was an experiment with a lot of downside risk. As it turns out, the folks who let them do this later regretted it and sent their red-coated troops to enforce the "proper order." It didn't work. It turned out that the experimental version evolved much more quickly and proved more resilient than the top-down command and control version. That's what I expect to happen here. Where there is risk there is also opportunity. |
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Wanted to announce that we also have an open document where anyone can leave (hopefully helpful) critical feedback. Obviously we won't act on all of these immediately, but we do hope we can act on most all eventually. |
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Will Swarmcoin eventually be traded on one of the exchanges?
We have had some preliminary conversations about this. I assume it will happen within the next two months. |
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Pay attention that the 68,000,000 SWARM in limbo should be stored publicly and not moved unless a future round is issued, unless you'll be accused of "premine", espacially if SWARM is listed on centrlized exchnage after the 20th
Agreed. |
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How much SWARM per SWARMPRE will be distributed if YES is voted ? 1 to 1. ok, I thought the 24,000,000 SWARM were to be divided proportiaonly between the SWARMPRE holders at the end of the fundraise. I don't know where I've read that if only 12.000.000 SWARMPRE are sold in the first round, every SWARMPRE would yield 2 SWARM. Thanks for the info, I know enough to cast my vote Sorry, I misunderstood your question. You are correct, in a YES vote the 24,000,000 SWARM will be divided proportionally to SWARMPRE holders. We anticipate that all 24,000,000 SWARMPRE will be sold, but if not the scenario you describe will happen. For example, if we sell only 12,000,000 SWARMPRE then every SWARMPRE holder will get 2 SWARM. |
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How much SWARM per SWARMPRE will be distributed if YES is voted ? 1 to 1. How much SWARM will be in limbo for "future rounds of funding" ? 68,000,000 How much SWARM will "Swarm Reserve" be ? 8,000,000 How could 4500 BTC not be enough ?
Depends on what you are trying to do. Look at the funding rounds for something like Square for example. Started with $10M, then $27.5M, then $100M, then $200+M. These are the sort of amounts we will need to eventually raise if we are going to build a global cryptoequity service. |
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Yes, I got the email. sent the 0.00******* goldtickets. sent the email. but no confirm or what to do next
You will get another email with instructions, probably on Monday. |
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