Escrow here again. I received some pm to get points about this ICO to my attention that I should take care of.
Please correct me by pm on any point where Iam wrong.
So I will have to add some points. Lutpin, signature campaign manager, wanted to explain the situation on weekend to me but so far it looks like the signature campaign was not paid yet and it's unclear why it was not happening with the funds from ico 1. So when releasing the coins from investors that chose not to withdraw then I would pay the signature campaign first. They were promised payment in bitcoin I was told, right?
It would not be a problem because wasserman99 wanted to do this anyway. It makes no sense to wait 2 weeks after I released the coins to wasserman99 when these are costs that have to be paid in any case. Waiting can have no advantage.
Are there other unpaid costs as of now?
Next point is that in the plan the points distribution and release should be in the opposite order. I would tell wasserman99 all users that do want a refund. He would send the coins to all remaining users of ico 2 together with those to ico 1 investors. Then I would release the bitcoins to wasserman99. This would be a small peace of mind for investors of ico 2 that fear not getting coins when I release the coins upfront.
Though I see wasserman99 already reacted and added that point into the list at point 7, now 8.
Regarding the wallet. Everyone should make their decision. I don't want to take that decision into my own hands.
Next thing, Wasserman99, you NEED to email the investors in phase 2 so they can decide. Since it looks like you have their email address. They need to be aware of the situation. The 2 week period is for every investor to realize. Even though I do not think that an investor would not care about his investment over all these weeks. But if this way of informing exists then it should be used.
Well, next point. I will not hold the coins of phase 2 beyond the 2 weeks timeframe. Reason is, when I would do so then it would potentially risk the development of the coin, regardless of what I think about the need of that money. The investors in phase 2 decided to invest, the milestones where set up in order to show something and then decide if a refund is needed. Now the situation is so that a refund is there and possible. Not only for 2 weeks, even longer it was open. Every investor of phase 2 has to care at least so much about his investment that he checks back in this timeframe. So the milestones are not needed anymore. The refund possibility is already there and holding funds even after that is not needed when the refund period is close anyway then.
The situation lies on the table pretty clearly. So deciding can't be drawn indefinitely. If in doubt never invest. I know it sounds like siding but it's meant as a general lesson I learned. NEVER EVER invest if there is a doubt. If you have the chance of 100% profit in a year then you have to invest 100% of your own stash. Which means initially you lose 100% of your wn ofunds. The question then is not only if you receive the 100% profit but if you get back your 100% investment also. So that you could have the 200% at the end of the year. I learned the hard way.
To say something into opposite direction, a couple of persons asking for refund changed their decision after this 2 week plan came on the table.
Regarding verifying the devs. It looks clear that they won't do it. There were enough suggestions already. So everyone need to think about it what he has to think. The situation is so that ICO 2 users can get a refund.
So the plan for me has to look like this:
1) Define the 9% PoW before Friday. // Done
2) On Friday communicating the decision to SJ. // Guess it's done, since it shouldn't have a huge impact I did not check it out too much.
3) Release the qt wallet before September 19th. // Better before. Would be a good thing for wasserman99's when he can show at least something
4) On September 19th the refund period will ends and no more refunds will be accepted.
5) Escrow Pays sig campaign.
6) On September 19-20th SJ will send us the info about the refunds to update our system.
7) Start the distribution
7 days after we start the distribution the funds will be released.
9) Launch the beta during October.
