ICO Structure changeAfter consulting with our partners at Blocktech and much internal deliberation the IBC team has come to the conclusion that a change in ICO structure is necessary. The new structure will be as follows:
100,000,000 initial coins minted in block one
Proof of stake with a 4% interest rate
The ICO will consist of 10,000,000 coins
No other coins will be issued until the game is completed and released
The coins that are not being offered in the ICO will be held by blocktech until the games release. Upon release, Root Applications LLC will be given the coins. Root Applications LLC will then control the in game money supply in the roll of the Iron Bank, an economic game master of sorts.
We believe that this structure is the best way to both integrate IBC in our internal economy slowly as to not cause hyper inflation and to add value for our initial investors. It also lets us integrate another layer of the Game of Thrones world in to the game, The Iron Bank.
With the implementation of this new structure we will be extending the ICO for another week, it will close on August 29th, 2014.
Finally, we would like to extend the offer of a full refund to anyone who has contributed to the ICO up to this point as we understand that this ICO structure is not what you originally agreed to.
-Regards
The Iron Bank team.
IronBank CoinWebsite (up shortly)
TwitterIRC ChannelIronBank Coin [IBC] will derive value from the application connected to its blockchain. We will be the first to implement an application which utilizes the blockchain technology in it’s entirety. Presenting IronBank Coin, not just a coin but an app that delivers something completely unique and never before done.
What is the IronBank and how does it create infrastructure? Infrastructure - "The basic physical and organizational structures and facilities (e.g., buildings, power supplies, and roads) needed for the operation of a society or enterprise."
We are creating a medieval based fantasy in the digital world with IBC. Implementing a digital version of a Fantasy World where you can play in a 24/7 Global Game of Risk. One giant continent, 7 kingdoms to choose from. Engage in a land grab that could secure your immediate future, or take over someone else’s land. Nothing is safe and the players decisions will will effect both the in game world and the currency tied to it.
The integrity of the IronBank is rooted in its strong community partnerships. We have enlisted
Blocktech to maintain our network, hold the coins not publicly offered, and escrow our ICO. Blocktech has emerged over the past months as a company positioned at the forefront of the budding cryptocurrency industry. For instance, Blocktech has
industry leaders in these sectors: Hardware, user experience, design, communications, development, finance, legal, social media, and cryptoeconomics. We are in full agreement and terms with Blochtech, and will continue to ask for an outside opinion if/when we feel the need. If you are interested in learning more about Blochtech, visit
http://www.blocktech.com. It is quite an honor to be able to work alongside a company with the vast knowledge at Blocktech as well as have the ability to focus on our application versus the daily struggles that the coin network may face.
It is important to understand that IBC is not necessarily tied to BitCoin in the way that most cryptocurrencies have been up until now. Instead, IBC will be tied to the internal economy of an application . We wholeheartedly believe this is another aspect that sets us apart and will be something that allows us to succeed. Along with IBC, the value of in game land and partnerships with other players will play a major roll in the internal economy. This economy will all run on the IBC blockchain, opening up possible strategic avenues to players willing to explore said blockchain. All of this is in game economic play will be tied to the real world through IBC/BTC pairings on exchanges meaning actions taken in the internal economy will have real world economic consequences. Consider what happens if an empire arises in game and hordes the IBC, or if you and your alliance take over the land of another player leaving him penniless on the street. That economic tie to bitcoin also means that you can gain... or lose real value in the game. Will you try to fund a revolution with your friends or will you be content living under the protection of a lord? Maybe you want to raid caravans or partner with another alliance in a war for land with a third party. All of this will have tangible economic effects in game and on the markets.
In the near future we will post a detailed project map detailing our every move. We want you to be informed, and have complete transparency to what we as a company are working towards. Root Applications LLC will begin soon after presale and will be posting a twice a week in our Developer Diary where the smaller components will be pieced together for the public and how it all works together.
FAQ How do we know this isn't a scam?Everything will initially be escrowed through, this includes the unreleased coins for the internal economy and any bitcoin received in the ICO and will be released as needed. Blocktech will also be maintaining the network. Having an established and trusted entity in the crypto space should both increase investor confidence and give the IBC team the freedom to develop the game and create the vibrant virtual economy we have planned.
Do you need the copyrights from George R.R. Martin?Our current top priority is to use the world of GRRM's "Song of Ice and Fire." We are working hard daily to ensure this happens and are currently in contact with who we need to be to obtain the licence. If all doors close, the project will move forward without it but will still deliver a quality product in the end.
What part does the IBC team have in the actual coin?We are only managing the the application side, but are in constant contact with our partners at Blocktech who will maintain the coin.
What are the in game incentives?The incentives for playing our game will be economic in nature. With money comes land, with land comes power, and with power comes money. That money will be exchangeable with Bitcoin giving us an internal virtual economy with real world rewards.
Proof of developer? @CryptoAsian has been contacted to do a PoD for us, it will be up soon.
Pre-sale distribution? The Pre-Sale will run until August 29th and is for 10,000,000 Proof of Stake coins with a %4 interest rate. People who contribute to the IPO will get a percentage of those coins based on the percentage of the ICO they contributed once the sale closes.
How will you show progress on the application?We will have a weekly Dev Diary providing updates to the community and will keep an open dialogue with the community as we are in development. This will happen regularly once the ICO closes
Initial Coin Offering Ends Noon PST August 29nd, 2014
Time Conversion End Times
19:00 GMT 29/08/14
3:00 Hong Kong 30/08/14
5:00 Sydney 30/08/14
Requirements to Participate in Pre-Sale
If you contribute to our ICO, please Private Message us the Txt ID of your transaction and a contact email address immediately after you deposit in to the address below
Distribution will happen based on those messages
(Note: This is a change from the original requirements, if you contributed to the ICO before this change, don't worry, you are fine.)
As of now, Bitcoin is the only accepted Currency
Address Below
ICO HAS BEEN DELAYED.
WE ARE RECOUPING AND MAKING SURE WE ARE 100% READY FOR FUTURE ENDEAVORS.
Disclaimer: We have all rights to determine whether or not to refund a deposit on our discretion. We will try to work with you if problems arise.
Show Posts
