Hiya, I was under the impression that the exchanged XCRs would be converted into BTC with the rate of 1300 sat and then Lisk would be distributed based on the number of BTC invested.
For ex: If someone donates 1 million XCR, it would amount to 13 BTC and so the person would get Lisk worth 13 BTC.
This is correct. This is just another way (and a simpler one) to state mathematically what I did about the number of Lisk received being less and less than the Crypti exchanged as the Lisk satoshi price goes above 1300. Also, by using XCR there is no 15%/10%/5% bonus. That reward is only available to BTC and Shapeshift donors.
If Lisk ICO accepted BTC ONLY, then most XCR owners would've dumped their XCR on exchanges for MUCH LESS than 1300 satoshi per XCR. XCR price would've crashed by now.
Each BTC investor in this ICO would've received a larger share of Lisk, but now that Lisk ICO is accepting OVERPRICED XCR, BTC investors share is getting diluted with XCR investments, that's why I said BTC investors are bailing out Crypti bag holders.
I agree that if Crypti XCR was not accepted at all in this ICO, then BTC donors would receive a proportionally larger share of the 85M Lisk to be distributed.
But
that larger share of Lisk would also be worth less in satoshi by a factor of the equivalent BTC from Crypti that would be excluded.
So tell me exactly how would the BTC donors gain financially by the exclusion of Crypti exchanges for Lisk? The BTC donors would own
more of a
less valuable coin, so the actual value of their holdings (large or small) remains unchanged in either case.
If BTC holders don't gain financially by the exclusion of Crypti donors, then they don't lose financially from the inclusion of Crypti donors.
If BTC donors don't lose financially from the inclusion of Crypti donors, then the
BTC donors are not bailing out Crypti bag holders.
Look, I understand what you are getting at. Crypti owners are between a rock and a hard place, and they got there by the actions and inactions of Crypti management. That's why the Lisk fork got started.
But it is not correct to give the impression that Crypti donors are causing BTC donors to lose money. They are not. What is happening is that BTC donors showing up allows building a ship that is big enough for Crypti donors to board, too, and get out of their life raft. And Olivier and Max are organizing this rescue at sea so that it benefits everybody.
Sure, if Lisk were to exclude Crypti donors, the BTC donors would be getting use of the Version 0.5.5 sidechain/dapp software for free. Sure, under open source rules, that's allowed. But... is it right to stiff the Crypti donors that funded that software from vaporware to a hard-won code base?
You state Crypti owners would have dumped to join Lisk, I don't believe this would have been the case.
We would've likely experienced FUD from angry Crypti holders. This would've caused the ICO to raise limited funds.
Lisk accepted Crypti in an act of honor, and it was the correct choice. They united the Crypti community while eliminating any potential dangers of FUD.
This is why Max and Olivier are worthy of trust in this ICO and going forward as the leaders of the Lisk project.
