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... and as expected, no word on the remaining unsold ICO coins! Keep disregarding the communitie's concern and you will get disregarded. if you think the price is continuing to slip down, you ain't seen nothing yet. I know the team is selling coins and so am I, at whatever price. Every coin I mine is hitting the exchange right away. Peace out!
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As a miner and buyer of Graft I prefer not to have the airdrop, nice call !
Now we all need to know what will happen to the coins? Will they get burned? Will they keep locked? Will they be dumped?
Anyone can answer these simple questions? If the coins won't be airdroped, what use will they have?? Anyone here from official sources?? Can these questions be answered? The tokens for the airdrop was intended to be funded from the DEV`s reserve token pool. As these tokens will not be used for airdrop they will remain in the reserve pool. Thanks Hello Team, Let me start off by saying thank you for not going through with the airdrop! Although it was mere pressure from the community on the coin's price that made you rethink your plan of action, you still get a thank you. To me, you are not being proactive, rather reactive to to the market's fluctuation and GRFT's visit to the sub-penny territory. Furthermore, I have never heard of the term "DEV`s reserve token pool" ? Is this something you reserved for yourselves and structured it in the ICO from the get go? (No record of this to be found anywhere). Or, are you referring to the remaining unsold ICO coins as "DEV`s reserve token pool"? The community was loud and clear in voicing, numerous times and from many different members, that the remaining unsold ICO coins should be burnt as every project before you did. Your silence and (play it by ear) motto is not going to get you far as most would consider it shady at best! They say Trust is like a castle of sand, so hard to build and so easy to destroy! Take this quote for what its worth and please do the right thing and burn the remaining coins. Regards, Miner |
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https://www.graft.network/2018/06/26/ico-airdrop-clarification/ICO AIRDROP CLARIFICATION Dear GRAFT Community, We would like to take this opportunity to clarify the promise we made to the ICO participants to do an airdrop if the price doesn’t recover to the ICO level within nine months. Why did we do it? As you might imagine, we’ve never before carried out an ICO, less so an ICO based on a live mineable blockchain. As such, we came up with coin pricing based on what we assessed to be а fair market value (very conservatively at that, comparing to other similar projects). One thing we didn’t know was that the price of the coin would be immediately driven down by ASIC miners, creating a large disparity between the ICO and mining price levels. As project leads we felt compelled to make it right by the ICO participants and to rectify this situation. Terms of the Airdrop The following are the terms of the airdrop: If the price of GRFT doesn’t recover to the ICO level (0.0000262 BTC) prior to November 18, 2018 (9 months from the end of the ICO) for a reasonable period of time (24 hours cumulative, according to CoinMarketCap), GRAFT project team will airdrop the difference in GRFTs to the ICO participants in good standing. The effective price at the time will be determined based on a 10 day moving average. Example 1 ; October 20 GRFT price is 0.0000262 BTC or higher – no airdrop will take place Example 2 : October 10-18 GRFT price avg 0.0000262 BTC or higher , no airdrop will take place Example 3 : November 10-18 GRFT price avg 0.0000131 BTC , each ICO purchase of 1 GRFT will receive ONE additional GRFT via airdrop. The effect of potential airdrop The actual number of GRFT’s issued for the airdrop will depend on the price difference between the airdrop and the ICO price (in BTC). Currently, we estimate that no more than 50M GRFT’s are at stake. The funds will be provided from the undersold ICO funds, and since all the ICO funds were earmarked for circulation, should not result in an increase of the circulation supply. Conclusion We understand the controversial nature of this offer and value community’s opinions and feedbacks. We try to make decisions that are fair to all our supporters, while carrying on the mission of the project. Your support is highly appreciated and valued. Best Regards, GRAFT Team Dear Team, I have never felt compelled to register on this site and answer your Airdrop clarification as ever before. As a miner that supported your network with all my rig's hashpower, giving stability and security to your network and contributing to the blockchain record keeping; I honestly feel betrayed to hear that you are planning an airdrop to "ICO Investors!!??!!". I started mining your coin from the get go, including when your network was under attack right after the fork, I was bearing over $500 USD per month in electricity charges since January. Now, I could've spent that money to purchase the damn coin and subsequently benefit from a senseless airdrop! There is always a risk when you make an investment of any sort and investors fully understand that including myself who invested in electricity and building minig rigs. If coin "buyers" are to benefit from an airdrop, there is nothing fairer than extending the courtesy to miners as well since I have just explained to you the extent of the miner's investment in your project. I truly feel that the remaining ICO coins should be burnt as everyone understands the risks associated with cryptocurrency investments. Kindly, rethink your announcement and do not dismiss Miner's input. Without miners you have NOTHING and if your network hashrate drops significantly, not only you will suffer from 51% attacks and the further fragmentation of your blockchain, but you will also loose credibility since your network will not have any support! Warm Regards, Miner Agree with you. I mine and buy about 50K graft. But nothing for me as air drop. I still keep 50K and this will be more in near future. It is totally inequal for all kind of investors. Graft Team, Please answer the above concerns, I would like to hear it from you first hand! Regards, Miner Miner. We appreciate your support and we had not intent to make you or anyone else feeling betrayed. The team have committed to the airdrop ( a few weeks from he end of ICO) . Although the current airdrop terms might not in your personal favor we will follow through with our commitments to the community. We will follow through with our commitment to ICO investors. Dear Team, Thank you very much for your direct and honest answer. Your support for ICO Investors over miners is loud and clear and remember, ICO investor already spent their money and there isn't much more they can do whereas miners continue to support your network and there is a lot they can still do. I was so exited about the concept and the idea that I was considering taking GRFT as a payment for my consulting services and advertise it on my website. I am sadly going to stop minig your coin as I do not agree with your actions. Good luck to all! Regards, Former Miner The way you are wording it is worded in such a way. Its basicly making it look like they have to choose between miners and and ICO Investors instead of allowing them to choose both. ICO Investor spends 500 usd gets 1500 graft You say you got 50k In earlier posts from mining for 6 months spending about 3 grand in electricty. If you spent that on graft during ICO you would have 9k graft. I have no doubt you would be on the opposite side complaining. If the ICO Investors had outright bought 50k graft they would have to have spent 50,000totalgraft/1500graftpurchase = (33.33purchasesx500usd) for a total of 16,667 usd 16,667 usd where you only spent 3k in electricty to mine 50k. Now under normal circumstances I would say this was a risk to investors they chose to take. However, ASICS hit at the same time Tradeogre NINJA LAUNCHED which means that the ICO price of around 30 cents fell to 3 cents Literally off just a handful of trades! This made the 500 usd of 1500 graft worth about 1500x0.03cents= 45 dollars.... So where you spend 500 dollars in one month and recieved probably the bulk of your 50k at least 1/6 of it.. those that spent 500 usd now have 45 dollars.... worht of graft... So yes I see nothing wrong airdropping it back up to 500 USD from 45 USD worth of graft because they bought 500 USD worth of graft and the next day it was 45 usd. Couple that with this.. what if they would have sold at ICO 3 cents to begin with then 500 USD would have been provided the same amount of graft they have determined they will airdrop to bring up to ICO price anyway. If they would have sold 500 usd at 3 cents each they would have recieved 16,666 graft instead of 1500 graft. and we wouldnt be having this conversation right now! Now lets throw those numbers into the network we have now at 20 megahash and a price 0.01518 USD each graft... then with 1 kilo hash the average price of v7 coins is 1. Citadel (Rp. 14924) ($1.07) 2. IntenseCoin (Rp. 14042) ($1.00) 3. Stellite (Rp. 13006) ($0.93) 4. Electrodump (Rp. 12908) ($0.92) 5. Graft (Rp. 12852) ($0.92) 6. MoneroV (Rp. 12670) ($0.91) 7. Monero (Rp. 12558) ($0.90) 8. Elya (Rp. 11298) ($0.81) Which means graft is well within its price point for the network difficulty at current price. Which means if you were mining graft you didn't lose any money if you chose not to mine something else and continued on graft... as sometimes it was 1.07 other times 80 cents per kilohash per hour. . They were not wronged by graft but graft is making up for it. No one wants graft to succeed more then the GRAFT TEAM itself I think. They are hte ones who have the entire project to lose.. as of now you miners are way ahead of the ICO investors.. THE ICO INVESTORS made this project a reality. This team isnt just forking a coin they are making NEW CODE for RTA. Therefore alot of time seems to have been spent toward it. The Point is that ICO INVESTORS had 500 usd for 1500 graft for what equated at the time to 45 dollars. Miners could spend 500 in electricity in January and get practically 10x that, if you look at the math.. there fore bringing them from 3 cents to 30 cents.. is what 10x IF the miners could spend 500 in electricity and get 15,000 graft the first month... why is it fair for the ICO investors to spend 500 and get 1500 Coins.. 3cents to 30 cents This allows for 500 in electircyt for 15,000 graft the first month to miners Ico investors spend 500 and get 15,000 graft in ICO. I get your concerns but as of now miners recieved far more graft then ICO investors in electricy costs vs ICO purchase The math adds up. EVen still this doesnt factor in.... the fact that graft is gonna be closer to ICO price anyway in 3 months. So if they are 25 cents of 30 cents.. they are only gonna get a small amount. An airdrop is usually free coins. This isnt giving anything past the initial purchase price they paid in usd measured in BTC. Basicly graft was saying had we known it was 3 cents we would have given 10x as much graft per 500 usd.. which would have made it equal to what the miners spending 500 in electricty made. I have no doubt you made at least 15k in the first month of mining out of the 50k you had. I totally see your reasoning but the math does not add up. Right now my 50000 coins are worth $760 USD and my rig have costed me $8000 that you didn't factor in the initial cost. Now, as a miner I am not getting an airdrop to cover my losses; rather my losses will become bigger as I believe the coin price will go down in value as the airdropped coins hit the exchanges. This is the only crypto I know of that is not burning the remaining ICO coins which explains my skepticism. However, I am not trying to make it to be Miners Vs Investors, I am talking about being Fair! and the 500 usd 1500 dollar coins are worth 0.01520 each and calculate to equal=22.80 cents and the 500 usd you spent in electricty in the first month to get around 15,000 at 0.01520 each calculate to equal =228 dollars .. You lost around 500 to 228 usd.. ICO lost 500 usd to 22.80 cents.... Thats my point I feel its only fair to bring up the ICO investors from 3 cents to 30 cents brinign there 22.80 cents as close to 228 usd as possible. Now as a miner the soul purpose is to mine and secure the network and as a reward you get a percentage of the printed coin and transaction fees. While yes short term dumps are good for paying for electricity. You have made the classic mistake of trying to pay off equipment on a new coin. Im sorry to hear that it doesnt cover the miner payments if you invested in hardware. You should probably put a few cards in your rig on something like Monera or something that pays out steadily income to meet your payments. When mining its best to never expect ROI on new coins monthly. this actually leads to hard dumping from miners. Things will change. They have said that they wouldnt do airdrop if it hits ICO price for 24 hours. Basicly keep mining graft keep holding. It will go up 10 x easily in 6 months. all graft has to do is go up 6x and bitcoin 2x and in USD its went up to 30 cents. Now of course its meausred in BTC but the point is that you ROI is paid in USD im sure. You cant expect as a miner for a new coin like graft to pay for your rigs monthly ROI. Mine something like monero etc. Well you said it, miners do take risks mining a coin vs another as well as ICO investors also do take risk when they invest in an ICO. The team did not make this airdrop clear from the beginning, rather 2 weeks before the end of the ICO. By that time, miners were already 2 months in and $1000 down. "You have made the classic mistake of trying to pay off equipment on a new coin" aren't we all taking risks mining or ICO investing? Isn't true that both Miners and Investors are needed for the project to be successful? Then why rewarding some risk takers and not all risk takers? PS when I mined XMR in 2014 it fully paid for my rig and way more. I was hoping that GRFT will have a similar success story but it seems not likely with the current course of Dev Team's action. Again this is only my opinion as a miner! |
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https://www.graft.network/2018/06/26/ico-airdrop-clarification/ICO AIRDROP CLARIFICATION Dear GRAFT Community, We would like to take this opportunity to clarify the promise we made to the ICO participants to do an airdrop if the price doesn’t recover to the ICO level within nine months. Why did we do it? As you might imagine, we’ve never before carried out an ICO, less so an ICO based on a live mineable blockchain. As such, we came up with coin pricing based on what we assessed to be а fair market value (very conservatively at that, comparing to other similar projects). One thing we didn’t know was that the price of the coin would be immediately driven down by ASIC miners, creating a large disparity between the ICO and mining price levels. As project leads we felt compelled to make it right by the ICO participants and to rectify this situation. Terms of the Airdrop The following are the terms of the airdrop: If the price of GRFT doesn’t recover to the ICO level (0.0000262 BTC) prior to November 18, 2018 (9 months from the end of the ICO) for a reasonable period of time (24 hours cumulative, according to CoinMarketCap), GRAFT project team will airdrop the difference in GRFTs to the ICO participants in good standing. The effective price at the time will be determined based on a 10 day moving average. Example 1 ; October 20 GRFT price is 0.0000262 BTC or higher – no airdrop will take place Example 2 : October 10-18 GRFT price avg 0.0000262 BTC or higher , no airdrop will take place Example 3 : November 10-18 GRFT price avg 0.0000131 BTC , each ICO purchase of 1 GRFT will receive ONE additional GRFT via airdrop. The effect of potential airdrop The actual number of GRFT’s issued for the airdrop will depend on the price difference between the airdrop and the ICO price (in BTC). Currently, we estimate that no more than 50M GRFT’s are at stake. The funds will be provided from the undersold ICO funds, and since all the ICO funds were earmarked for circulation, should not result in an increase of the circulation supply. Conclusion We understand the controversial nature of this offer and value community’s opinions and feedbacks. We try to make decisions that are fair to all our supporters, while carrying on the mission of the project. Your support is highly appreciated and valued. Best Regards, GRAFT Team Dear Team, I have never felt compelled to register on this site and answer your Airdrop clarification as ever before. As a miner that supported your network with all my rig's hashpower, giving stability and security to your network and contributing to the blockchain record keeping; I honestly feel betrayed to hear that you are planning an airdrop to "ICO Investors!!??!!". I started mining your coin from the get go, including when your network was under attack right after the fork, I was bearing over $500 USD per month in electricity charges since January. Now, I could've spent that money to purchase the damn coin and subsequently benefit from a senseless airdrop! There is always a risk when you make an investment of any sort and investors fully understand that including myself who invested in electricity and building minig rigs. If coin "buyers" are to benefit from an airdrop, there is nothing fairer than extending the courtesy to miners as well since I have just explained to you the extent of the miner's investment in your project. I truly feel that the remaining ICO coins should be burnt as everyone understands the risks associated with cryptocurrency investments. Kindly, rethink your announcement and do not dismiss Miner's input. Without miners you have NOTHING and if your network hashrate drops significantly, not only you will suffer from 51% attacks and the further fragmentation of your blockchain, but you will also loose credibility since your network will not have any support! Warm Regards, Miner Agree with you. I mine and buy about 50K graft. But nothing for me as air drop. I still keep 50K and this will be more in near future. It is totally inequal for all kind of investors. Graft Team, Please answer the above concerns, I would like to hear it from you first hand! Regards, Miner Miner. We appreciate your support and we had not intent to make you or anyone else feeling betrayed. The team have committed to the airdrop ( a few weeks from he end of ICO) . Although the current airdrop terms might not in your personal favor we will follow through with our commitments to the community. We will follow through with our commitment to ICO investors. Dear Team, Thank you very much for your direct and honest answer. Your support for ICO Investors over miners is loud and clear and remember, ICO investor already spent their money and there isn't much more they can do whereas miners continue to support your network and there is a lot they can still do. I was so exited about the concept and the idea that I was considering taking GRFT as a payment for my consulting services and advertise it on my website. I am sadly going to stop minig your coin as I do not agree with your actions. Good luck to all! Regards, Former Miner The way you are wording it is worded in such a way. Its basicly making it look like they have to choose between miners and and ICO Investors instead of allowing them to choose both. ICO Investor spends 500 usd gets 1500 graft You say you got 50k In earlier posts from mining for 6 months spending about 3 grand in electricty. If you spent that on graft during ICO you would have 9k graft. I have no doubt you would be on the opposite side complaining. If the ICO Investors had outright bought 50k graft they would have to have spent 50,000totalgraft/1500graftpurchase = (33.33purchasesx500usd) for a total of 16,667 usd 16,667 usd where you only spent 3k in electricty to mine 50k. Now under normal circumstances I would say this was a risk to investors they chose to take. However, ASICS hit at the same time Tradeogre NINJA LAUNCHED which means that the ICO price of around 30 cents fell to 3 cents Literally off just a handful of trades! This made the 500 usd of 1500 graft worth about 1500x0.03cents= 45 dollars.... So where you spend 500 dollars in one month and recieved probably the bulk of your 50k at least 1/6 of it.. those that spent 500 usd now have 45 dollars.... worht of graft... So yes I see nothing wrong airdropping it back up to 500 USD from 45 USD worth of graft because they bought 500 USD worth of graft and the next day it was 45 usd. Couple that with this.. what if they would have sold at ICO 3 cents to begin with then 500 USD would have been provided the same amount of graft they have determined they will airdrop to bring up to ICO price anyway. If they would have sold 500 usd at 3 cents each they would have recieved 16,666 graft instead of 1500 graft. and we wouldnt be having this conversation right now! Now lets throw those numbers into the network we have now at 20 megahash and a price 0.01518 USD each graft... then with 1 kilo hash the average price of v7 coins is 1. Citadel (Rp. 14924) ($1.07) 2. IntenseCoin (Rp. 14042) ($1.00) 3. Stellite (Rp. 13006) ($0.93) 4. Electrodump (Rp. 12908) ($0.92) 5. Graft (Rp. 12852) ($0.92) 6. MoneroV (Rp. 12670) ($0.91) 7. Monero (Rp. 12558) ($0.90) 8. Elya (Rp. 11298) ($0.81) Which means graft is well within its price point for the network difficulty at current price. Which means if you were mining graft you didn't lose any money if you chose not to mine something else and continued on graft... as sometimes it was 1.07 other times 80 cents per kilohash per hour. . They were not wronged by graft but graft is making up for it. No one wants graft to succeed more then the GRAFT TEAM itself I think. They are hte ones who have the entire project to lose.. as of now you miners are way ahead of the ICO investors.. THE ICO INVESTORS made this project a reality. This team isnt just forking a coin they are making NEW CODE for RTA. Therefore alot of time seems to have been spent toward it. The Point is that ICO INVESTORS had 500 usd for 1500 graft for what equated at the time to 45 dollars. Miners could spend 500 in electricity in January and get practically 10x that, if you look at the math.. there fore bringing them from 3 cents to 30 cents.. is what 10x IF the miners could spend 500 in electricity and get 15,000 graft the first month... why is it fair for the ICO investors to spend 500 and get 1500 Coins.. 3cents to 30 cents This allows for 500 in electircyt for 15,000 graft the first month to miners Ico investors spend 500 and get 15,000 graft in ICO. I get your concerns but as of now miners recieved far more graft then ICO investors in electricy costs vs ICO purchase The math adds up. EVen still this doesnt factor in.... the fact that graft is gonna be closer to ICO price anyway in 3 months. So if they are 25 cents of 30 cents.. they are only gonna get a small amount. An airdrop is usually free coins. This isnt giving anything past the initial purchase price they paid in usd measured in BTC. Basicly graft was saying had we known it was 3 cents we would have given 10x as much graft per 500 usd.. which would have made it equal to what the miners spending 500 in electricty made. I have no doubt you made at least 15k in the first month of mining out of the 50k you had. I totally see your reasoning but the math does not add up. Right now my 50000 coins are worth $760 USD and my rig have costed me $8000 that you didn't factor in the initial cost. Now, as a miner I am not getting an airdrop to cover my losses; rather my losses will become bigger as I believe the coin price will go down in value as the airdropped coins hit the exchanges. This is the only crypto I know of that is not burning the remaining ICO coins which explains my skepticism. However, I am not trying to make it to be Miners Vs ICO Investors, I am talking about being Fair! |
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https://www.graft.network/2018/06/26/ico-airdrop-clarification/ICO AIRDROP CLARIFICATION Dear GRAFT Community, We would like to take this opportunity to clarify the promise we made to the ICO participants to do an airdrop if the price doesn’t recover to the ICO level within nine months. Why did we do it? As you might imagine, we’ve never before carried out an ICO, less so an ICO based on a live mineable blockchain. As such, we came up with coin pricing based on what we assessed to be а fair market value (very conservatively at that, comparing to other similar projects). One thing we didn’t know was that the price of the coin would be immediately driven down by ASIC miners, creating a large disparity between the ICO and mining price levels. As project leads we felt compelled to make it right by the ICO participants and to rectify this situation. Terms of the Airdrop The following are the terms of the airdrop: If the price of GRFT doesn’t recover to the ICO level (0.0000262 BTC) prior to November 18, 2018 (9 months from the end of the ICO) for a reasonable period of time (24 hours cumulative, according to CoinMarketCap), GRAFT project team will airdrop the difference in GRFTs to the ICO participants in good standing. The effective price at the time will be determined based on a 10 day moving average. Example 1 ; October 20 GRFT price is 0.0000262 BTC or higher – no airdrop will take place Example 2 : October 10-18 GRFT price avg 0.0000262 BTC or higher , no airdrop will take place Example 3 : November 10-18 GRFT price avg 0.0000131 BTC , each ICO purchase of 1 GRFT will receive ONE additional GRFT via airdrop. The effect of potential airdrop The actual number of GRFT’s issued for the airdrop will depend on the price difference between the airdrop and the ICO price (in BTC). Currently, we estimate that no more than 50M GRFT’s are at stake. The funds will be provided from the undersold ICO funds, and since all the ICO funds were earmarked for circulation, should not result in an increase of the circulation supply. Conclusion We understand the controversial nature of this offer and value community’s opinions and feedbacks. We try to make decisions that are fair to all our supporters, while carrying on the mission of the project. Your support is highly appreciated and valued. Best Regards, GRAFT Team Dear Team, I have never felt compelled to register on this site and answer your Airdrop clarification as ever before. As a miner that supported your network with all my rig's hashpower, giving stability and security to your network and contributing to the blockchain record keeping; I honestly feel betrayed to hear that you are planning an airdrop to "ICO Investors!!??!!". I started mining your coin from the get go, including when your network was under attack right after the fork, I was bearing over $500 USD per month in electricity charges since January. Now, I could've spent that money to purchase the damn coin and subsequently benefit from a senseless airdrop! There is always a risk when you make an investment of any sort and investors fully understand that including myself who invested in electricity and building minig rigs. If coin "buyers" are to benefit from an airdrop, there is nothing fairer than extending the courtesy to miners as well since I have just explained to you the extent of the miner's investment in your project. I truly feel that the remaining ICO coins should be burnt as everyone understands the risks associated with cryptocurrency investments. Kindly, rethink your announcement and do not dismiss Miner's input. Without miners you have NOTHING and if your network hashrate drops significantly, not only you will suffer from 51% attacks and the further fragmentation of your blockchain, but you will also loose credibility since your network will not have any support! Warm Regards, Miner Agree with you. I mine and buy about 50K graft. But nothing for me as air drop. I still keep 50K and this will be more in near future. It is totally inequal for all kind of investors. Graft Team, Please answer the above concerns, I would like to hear it from you first hand! Regards, Miner Miner. We appreciate your support and we had not intent to make you or anyone else feeling betrayed. The team have committed to the airdrop ( a few weeks from he end of ICO) . Although the current airdrop terms might not in your personal favor we will follow through with our commitments to the community. We will follow through with our commitment to ICO investors. Dear Team, Thank you very much for your direct and honest answer. Your support for ICO Investors over miners is loud and clear and remember, ICO investor already spent their money and there isn't much more they can do whereas miners continue to support your network and there is a lot they can still do. I was so exited about the concept and the idea that I was considering taking GRFT as a payment for my consulting services and advertise it on my website. I am sadly going to stop minig your coin as I do not agree with your actions. Good luck to all! Regards, Former Miner |
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https://www.graft.network/2018/06/26/ico-airdrop-clarification/ICO AIRDROP CLARIFICATION Dear GRAFT Community, We would like to take this opportunity to clarify the promise we made to the ICO participants to do an airdrop if the price doesn’t recover to the ICO level within nine months. Why did we do it? As you might imagine, we’ve never before carried out an ICO, less so an ICO based on a live mineable blockchain. As such, we came up with coin pricing based on what we assessed to be а fair market value (very conservatively at that, comparing to other similar projects). One thing we didn’t know was that the price of the coin would be immediately driven down by ASIC miners, creating a large disparity between the ICO and mining price levels. As project leads we felt compelled to make it right by the ICO participants and to rectify this situation. Terms of the Airdrop The following are the terms of the airdrop: If the price of GRFT doesn’t recover to the ICO level (0.0000262 BTC) prior to November 18, 2018 (9 months from the end of the ICO) for a reasonable period of time (24 hours cumulative, according to CoinMarketCap), GRAFT project team will airdrop the difference in GRFTs to the ICO participants in good standing. The effective price at the time will be determined based on a 10 day moving average. Example 1 ; October 20 GRFT price is 0.0000262 BTC or higher – no airdrop will take place Example 2 : October 10-18 GRFT price avg 0.0000262 BTC or higher , no airdrop will take place Example 3 : November 10-18 GRFT price avg 0.0000131 BTC , each ICO purchase of 1 GRFT will receive ONE additional GRFT via airdrop. The effect of potential airdrop The actual number of GRFT’s issued for the airdrop will depend on the price difference between the airdrop and the ICO price (in BTC). Currently, we estimate that no more than 50M GRFT’s are at stake. The funds will be provided from the undersold ICO funds, and since all the ICO funds were earmarked for circulation, should not result in an increase of the circulation supply. Conclusion We understand the controversial nature of this offer and value community’s opinions and feedbacks. We try to make decisions that are fair to all our supporters, while carrying on the mission of the project. Your support is highly appreciated and valued. Best Regards, GRAFT Team Dear Team, I have never felt compelled to register on this site and answer your Airdrop clarification as ever before. As a miner that supported your network with all my rig's hashpower, giving stability and security to your network and contributing to the blockchain record keeping; I honestly feel betrayed to hear that you are planning an airdrop to "ICO Investors!!??!!". I started mining your coin from the get go, including when your network was under attack right after the fork, I was bearing over $500 USD per month in electricity charges since January. Now, I could've spent that money to purchase the damn coin and subsequently benefit from a senseless airdrop! There is always a risk when you make an investment of any sort and investors fully understand that including myself who invested in electricity and building minig rigs. If coin "buyers" are to benefit from an airdrop, there is nothing fairer than extending the courtesy to miners as well since I have just explained to you the extent of the miner's investment in your project. I truly feel that the remaining ICO coins should be burnt as everyone understands the risks associated with cryptocurrency investments. Kindly, rethink your announcement and do not dismiss Miner's input. Without miners you have NOTHING and if your network hashrate drops significantly, not only you will suffer from 51% attacks and the further fragmentation of your blockchain, but you will also loose credibility since your network will not have any support! Warm Regards, Miner Agree with you. I mine and buy about 50K graft. But nothing for me as air drop. I still keep 50K and this will be more in near future. It is totally inequal for all kind of investors. Graft Team, Please answer the above concerns, I would like to hear it from you first hand! Regards, Miner Miner. We appreciate your support and we had not intent to make you or anyone else feeling betrayed. The team have committed to the airdrop ( a few weeks from he end of ICO) . Although the current airdrop terms might not in your personal favor we will follow through with our commitments to the community. We will follow through with our commitment to ICO investors. |
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https://www.graft.network/2018/06/26/ico-airdrop-clarification/ICO AIRDROP CLARIFICATION Dear GRAFT Community, We would like to take this opportunity to clarify the promise we made to the ICO participants to do an airdrop if the price doesn’t recover to the ICO level within nine months. Why did we do it? As you might imagine, we’ve never before carried out an ICO, less so an ICO based on a live mineable blockchain. As such, we came up with coin pricing based on what we assessed to be а fair market value (very conservatively at that, comparing to other similar projects). One thing we didn’t know was that the price of the coin would be immediately driven down by ASIC miners, creating a large disparity between the ICO and mining price levels. As project leads we felt compelled to make it right by the ICO participants and to rectify this situation. Terms of the Airdrop The following are the terms of the airdrop: If the price of GRFT doesn’t recover to the ICO level (0.0000262 BTC) prior to November 18, 2018 (9 months from the end of the ICO) for a reasonable period of time (24 hours cumulative, according to CoinMarketCap), GRAFT project team will airdrop the difference in GRFTs to the ICO participants in good standing. The effective price at the time will be determined based on a 10 day moving average. Example 1 ; October 20 GRFT price is 0.0000262 BTC or higher – no airdrop will take place Example 2 : October 10-18 GRFT price avg 0.0000262 BTC or higher , no airdrop will take place Example 3 : November 10-18 GRFT price avg 0.0000131 BTC , each ICO purchase of 1 GRFT will receive ONE additional GRFT via airdrop. The effect of potential airdrop The actual number of GRFT’s issued for the airdrop will depend on the price difference between the airdrop and the ICO price (in BTC). Currently, we estimate that no more than 50M GRFT’s are at stake. The funds will be provided from the undersold ICO funds, and since all the ICO funds were earmarked for circulation, should not result in an increase of the circulation supply. Conclusion We understand the controversial nature of this offer and value community’s opinions and feedbacks. We try to make decisions that are fair to all our supporters, while carrying on the mission of the project. Your support is highly appreciated and valued. Best Regards, GRAFT Team Dear Team, I have never felt compelled to register on this site and answer your Airdrop clarification as ever before. As a miner that supported your network with all my rig's hashpower, giving stability and security to your network and contributing to the blockchain record keeping; I honestly feel betrayed to hear that you are planning an airdrop to "ICO Investors!!??!!". I started mining your coin from the get go, including when your network was under attack right after the fork, I was bearing over $500 USD per month in electricity charges since January. Now, I could've spent that money to purchase the damn coin and subsequently benefit from a senseless airdrop! There is always a risk when you make an investment of any sort and investors fully understand that including myself who invested in electricity and building minig rigs. If coin "buyers" are to benefit from an airdrop, there is nothing fairer than extending the courtesy to miners as well since I have just explained to you the extent of the miner's investment in your project. I truly feel that the remaining ICO coins should be burnt as everyone understands the risks associated with cryptocurrency investments. Kindly, rethink your announcement and do not dismiss Miner's input. Without miners you have NOTHING and if your network hashrate drops significantly, not only you will suffer from 51% attacks and the further fragmentation of your blockchain, but you will also loose credibility since your network will not have any support! Warm Regards, Miner Agree with you. I mine and buy about 50K graft. But nothing for me as air drop. I still keep 50K and this will be more in near future. It is totally inequal for all kind of investors. Graft Team, Please answer the above concerns, I would like to hear it from you first hand! Regards, Miner |
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My answers are in Red. Please excuse my unfamiliarity with the site!
No problem, you'll figure it out in not time  That what we're here for, a healthy debate.
I would have to politely disagree, the team has no responsibility towards ICO investor other than what was stated on the white paper. Implying that this is a secure investment doesn't hold any water. Investment and secure are an oxymoron.
While it is partially true that the investors have the ability to pump the price, miners are the one keeping the records in a decentralized manner in addition to providing mined coins to the investors. Unless investors are fine buying directly from the dev team's supply of coins and they would also keep the records for those investors! This is the definition of centralized currency
They do have a responsibility, yes. As you say, to implement the whitepaper and show their worth. They are the initial investors. And I'm am not impying any investor pumps. I am speaking of a healthy valuation of the project as the team delivers on the roadmap.
Mining is not free by any means and if the team will chose to create a distinction in the coin holders base, miners vs investors, I can almost guarantee you that this project will go nowhere unless you become a centralized coin like xrp where you have no input whatsoever and where the dev team would do what they like with the blockchain. A centralized model crypto has proven to be the least liked in the community.
Of course it is not free. That is my point. Serious network securing infrastructure requires serious monthly opreational costs. It is a business, or should be - even at a hobby level. And these miners you describe, are only interested in immediate resturns. The real value of this coin is not in it's mining potential, but on the real world use of the token.
Then how to separate people that held the coin after purchasing it from the people that dumped it all at a higher value than the current one?
Easy. 1 - If prices rises above ICO initial price, there is no airdrop - as stated in the official release 2 - If price does not rise above ICO, all addresses holding the initial balance or above, are aligible - this is not a statement, just my ideas on things Your opinion is loud and clear as you are obviously an investor that would like to benefit from an airdrop which is understandable. I really would like to see the team answer my concerns so I can act accordingly. After all, we all have to make choices at some point or another and live with the consequences. I am clearly unhappy with the team's decision to limit the airdrop to investors and not extend the courtesy to miners which is not fair since both spent hard earned money in two different manners but towards the same goal. Ultimately what I would like to see happening is burning the remaining ICO coins as every previous ICO did, after all it is the right thing to do. IMHO giving investors more coins to dump will double hurt miners, the price of the coin and the overall stability of the project. Now, can you name any successful coin with a grim or non existent network to support its blockchain? The only driver for investors is seeing progress and an adoption of the proposed real-time transactions technology by businesses. Once that becomes a reality, in addition to listing the coin in a major exchange, the price will unidirectionally climb and will get investors competing for the coin. Again, all I'm asking is for the team to do the right thing and burn the remaining coins! |
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This is a very tough nut to crack.
"The major responsibility the team has is with initial ICO investors. That is how things are.
ICO participants are the ones taking the biggest risk, and price is down like 95% for them.
These are also the guys who can potential scale the project 10x in an instant."
I would have to politely disagree, the team has no responsibility towards ICO investor other than what was stated on the white paper. Implying that this is a secure investment doesn't hold any water. Investment and secure are an oxymoron.
While it is partially true that the investors have the ability to pump the price, miners are the one keeping the records in a decentralized manner in addition to providing mined coins to the investors. Unless investors are fine buying directly from the dev team's supply of coins and they would also keep the records for those investors! This is the definition of centralized currency
"Like I wrote before, and as expressed by others already - it does seem a little unfair for miners. But mining is an open race. If you are mining GRFT to support it at a loss without selling, it's no different from devs & team coding without immediately liquid pay. You do it because you believe in the potential mid/long term."
Mining is not free by any means and if the team will chose to create a distinction in the coin holders base, miners vs investors, I can almost guarantee you that this project will go nowhere unless you become a centralized coin like xrp where you have no input whatsoever and where the dev team would do what they like with the blockchain. A centralized model crypto has proven to be the least liked in the community.
[/font]
" A sensible miner will mine for profit, and if he so chooses buys GRFT. This creates positive price pressure, and negative on competing algos.
Even if mining at a loss, the -ROI is far far less than initial ICO investors.
Plus, if the team were to airdrop to mined addresses... how to separate the opportunist miner from the truly supportive one?"
Then how to separate people that held the coin after purchasing it from the people that dumped it all at a higher value than the current one?
My answers are in Red. Please excuse my unfamiliarity with the site! |
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This is a very tough nut to crack.
"The major responsibility the team has is with initial ICO investors. That is how things are.
ICO participants are the ones taking the biggest risk, and price is down like 95% for them.
These are also the guys who can potential scale the project 10x in an instant."
I would have to politely disagree, the team has no responsibility towards ICO investor other than what was stated on the white paper. Implying that this is a secure investment doesn't hold any water. Investment and secure are an oxymoron.
While it is partially true that the investors have the ability to pump the price, miners are the one keeping the records in a decentralized manner in addition to providing mined coins to the investors. Unless investors are fine buying directly from the dev team's supply of coins and they would also keep the records for those investors! This is the definition of centralized currency
"Like I wrote before, and as expressed by others already - it does seem a little unfair for miners. But mining is an open race. If you are mining GRFT to support it at a loss without selling, it's no different from devs & team coding without immediately liquid pay. You do it because you believe in the potential mid/long term."
Mining is not free by any means and if the team will chose to create a distinction in the coin holders base, miners vs investors, I can almost guarantee you that this project will go nowhere unless you become a centralized coin like xrp where you have no input whatsoever and where the dev team would do what they like with the blockchain. A centralized model crypto has proven to be the least liked in the community.
[/font]
" A sensible miner will mine for profit, and if he so chooses buys GRFT. This creates positive price pressure, and negative on competing algos.
Even if mining at a loss, the -ROI is far far less than initial ICO investors.
Plus, if the team were to airdrop to mined addresses... how to separate the opportunist miner from the truly supportive one?"
Then how to separate people that held the coin after purchasing it from the people that dumped it all at a higher value than the current one?
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https://www.graft.network/2018/06/26/ico-airdrop-clarification/ICO AIRDROP CLARIFICATION Dear GRAFT Community, We would like to take this opportunity to clarify the promise we made to the ICO participants to do an airdrop if the price doesn’t recover to the ICO level within nine months. Why did we do it? As you might imagine, we’ve never before carried out an ICO, less so an ICO based on a live mineable blockchain. As such, we came up with coin pricing based on what we assessed to be а fair market value (very conservatively at that, comparing to other similar projects). One thing we didn’t know was that the price of the coin would be immediately driven down by ASIC miners, creating a large disparity between the ICO and mining price levels. As project leads we felt compelled to make it right by the ICO participants and to rectify this situation. Terms of the Airdrop The following are the terms of the airdrop: If the price of GRFT doesn’t recover to the ICO level (0.0000262 BTC) prior to November 18, 2018 (9 months from the end of the ICO) for a reasonable period of time (24 hours cumulative, according to CoinMarketCap), GRAFT project team will airdrop the difference in GRFTs to the ICO participants in good standing. The effective price at the time will be determined based on a 10 day moving average. Example 1 ; October 20 GRFT price is 0.0000262 BTC or higher – no airdrop will take place Example 2 : October 10-18 GRFT price avg 0.0000262 BTC or higher , no airdrop will take place Example 3 : November 10-18 GRFT price avg 0.0000131 BTC , each ICO purchase of 1 GRFT will receive ONE additional GRFT via airdrop. The effect of potential airdrop The actual number of GRFT’s issued for the airdrop will depend on the price difference between the airdrop and the ICO price (in BTC). Currently, we estimate that no more than 50M GRFT’s are at stake. The funds will be provided from the undersold ICO funds, and since all the ICO funds were earmarked for circulation, should not result in an increase of the circulation supply. Conclusion We understand the controversial nature of this offer and value community’s opinions and feedbacks. We try to make decisions that are fair to all our supporters, while carrying on the mission of the project. Your support is highly appreciated and valued. Best Regards, GRAFT Team Dear Team, I have never felt compelled to register on this site and answer your Airdrop clarification as ever before. As a miner that supported your network with all my rig's hashpower, giving stability and security to your network and contributing to the blockchain record keeping; I honestly feel betrayed to hear that you are planning an airdrop to "ICO Investors!!??!!". I started mining your coin from the get go, including when your network was under attack right after the fork, I was bearing over $500 USD per month in electricity charges since January. Now, I could've spent that money to purchase the damn coin and subsequently benefit from a senseless airdrop! There is always a risk when you make an investment of any sort and investors fully understand that including myself who invested in electricity and building minig rigs. If coin "buyers" are to benefit from an airdrop, there is nothing fairer than extending the courtesy to miners as well since I have just explained to you the extent of the miner's investment in your project. I truly feel that the remaining ICO coins should be burnt as everyone understands the risks associated with cryptocurrency investments. Kindly, rethink your announcement and do not dismiss Miner's input. Without miners you have NOTHING and if your network hashrate drops significantly, not only you will suffer from 51% attacks and the further fragmentation of your blockchain, but you will also loose credibility since your network will not have any support! Warm Regards, Miner |
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