Latest posts of: iotatoken

IOTA CROWDSALE IS OVER

1 month ago, after weeks of rumours and speculation, we unveiled a unique project that had been in stealth development for months: IOTA - The economy of Internet-of-Things.
If you are unfamiliar with what this completely new kind of crypto is all about head over to www.iotatoken.com to get an introduction. Also check out the thread here on BTT: https://bitcointalk.org/index.php?topic=1216479.0
Since the unveiling a lot of people has eagerly asked us daily via forums, PMs and mail for details of the upcoming crowdsale and how to acquire iotas. We are happy to finally be able to share the details and answers with you all, and also to invite everyone onboard this ambitious project.

This is the only official crowdsale of IOTA that there will ever be. This is it, in its entirety. There is absolutely no premine or presale to exclusive and privileged investors of any kind. Everyone is equal and has the same opportunity. So if you want to get ahold of iotas from day 1 and be part of writing a new chapter in crypto and IoT, this is your one chance.

~~How to purchase and collect your iotas~~

Step 1: ~~Simply deposit the purchase sum to this address~~:

~~1G8hh3bHMMhZSATwisBVbGFSYBKK3Suib8~~

from a bitcoin address that you are in complete control of. (Min amount: 0.001 BTC. Has to be standard tx. This is to prevent spam)

Step 2: After the sale ends you can collect your iotas from collect.iotatoken.com (goes live on 22nd of December)

Step 3. This site will instruct you to send a very tiny, but specific BTC sum, for example 0.000xyz BTC from the very same bitcoin address that you deposited your purchase sum from. This is to prove your ownership so that we can ensure that the rightful buyers gets their iotas.

This means that you can not purchase via depositing directly from an account at an exchange or equivalent which often change the sender address repeatedly.

Re-read these steps carefully before purchasing! If you are unable to prove that you own the bitcoin address that the bitcoins were sent from, the iotas will be forfeited.

Offering

999 999 999 iotas is up for sale.
This amount will be distributed between the buyers proportionate to their individual purchase sum. E.G. if your purchase sum make up 5% of the total sum of all purchases, you will get 5% of all the iotas for sale. (obviously including early bird schedule)

~~Accepted currencies~~

Bitcoin

JINN tokens locked at a fixed value of 0.0063 BTC per token.

Duration and schedule

Duration: 27 days.
Date: 25th November at 2 PM UTC - December 21st 11:59 PM UTC.

Schedule

Pioneer 15% more iotas.

9 days from 25 November - 3 December at 2 PM UTC

Early adopter 7.5% more iotas

9 days from 3 December - 12 December at 2 PM UTC

Slightly-less-but-still-very-early adopter

9 days from 12 December - 21 December at 11:59 PM / 23:59 UTC

[/s]

Purpose of the crowdsale

Development. The crowdsale funds will be used for further development and finalization of the IOTA software as well as development of the Jinn hardware processor which will strengthen and help bootstrap the network in its growing phase. Additionally funds will be used on marketing efforts to help nurture the growth of the IOTA network and community.

Prevent hoarding whales from stifling the project. If the tokens had not been sold but instead distributed through a sign-up scheme or mining of some sort, centralization would inevitably arise and usage of sybil type strategies would cheat the system.

Kickstart the ecosystem. As these tokens exist in limited quantity and every single one of them is sold in this exclusive crowdsale, it is imperative that the people who end up with them value their utility and functionality in such a manner that they have an incentive keep them useful and valuable. This is absolutely vital for organic growth of IOTA.

Terms and Risk