1.
We still need to look for a project manager and for people to code.
2.
The chances to reach a successful development and a high quality final product increase in relation to the amount of funds raised (more funds = higher chances)
3.
If we’ll not succeed to start the development, the funds raised will be returned to the addresses from which they were sent. We’ll try to postpone as much as possible the spending of the funds. For example: by offering bounties instead of salaries.
4.
I am aware to the concern about IPO scam possibility. This is why I am looking for well-known person to be the trustee of the funds.
Then there is no need to gather fund for BTC or announcing it yet. Why not start it and take risk... release IPO ir whatever when is ready?
Because I can't code it alone.
How much money do we need in order to start the coding? Or we still have to look for the people to code?
I'm thinking the same thing. Also are the developer's confident that they can deliver? What happen to the funds if they also don't? There's been a multitude of IPO scams going on here so having a coin released in beta would help or giving a stake to the developers instead of funds would lend credibility and faith in the project itself. The concept is a good one though as it tackles a huge issue with Bitcoin and other cyrptocurrencies out there.
I guess this will take forever. Ethereum have whitepaper and a solid team of developers and yet they still have not released their software. Imagine this only have whitepaper. This might take about 6 months to get started.
