Please can someone explain this whole betting on ICO. I dont really understand ICO to begin with but I think it means when a coins just come out and people invest in it forma % of the stake. Unless I'm way off ? Sonhow do I get on waves ? How much per wave and it says I just be around for all ten waves. I don't want to commit till in fully understand what's going on. Forgive me for my arrogance but I'm willing to learn if someone explains this all to me. Remember you were a noob too
thank you for any and all help.
Hey JasonXG,
You're not arrogant at all : ) ICO stands for initial crowd offering, or initial coin offering. It means, as you said, a new coin is coming out, and the developers of the coin raise fund before the coin's launch, with the promise that the contributors will be awarded by the coins.
For WAVES, there are 85 million coins to be distributed to the ICO contributors. So there is no fixed BTC/WAVES rate at the moment. The total amount of BTC raised in the ICO will determine the rate. Right now, if you deposit 1 BTC, you get about 5884 WAVES. But as new investors come up, your share is diluted so you may end up with less than the amount you first see.
Up till now, 12748 BTC have been raised, and we have 4 days and 20 hours until the end of the ICO. We are betting on the final amount.
If you would like to buy some WAVES, check out here:
https://ico.wavesplatform.comFill in the space under "Please enter your email address to buy WAVES tokens", and you will be sent an e-mail with the instructions shortly.
Best,
Jian
