OK guys, thanks for all the comments. I'll try address all of them.
1. 4 million ETH is more than $40 million at the present valuation
We’re not, and can’t be more clear on that.
We considered the pros and cons for capping the sale of HKG. Our issue with a cap has always been that this will limit the distribution of the token and by limiting participation undermine the ability of the community to identify the best ideas.
So rather than set a cap, we wanted to leave it up to the market to decide what the value of the sale would be. To be honest we were not anticipating a particularly large initial sale.
However, at the same time, there is always the possibility that things can run out of control, so after feedback from the community we subsequently decided to put a safety cap in place. The figure of 4 Million Ether was chosen only from a perspective of protecting the network. It was never intended to be a target or goal, although it appears that a vocal section of the community is taking it like that. We understand and respect why people have come to this conclusion, and again we apologise for the misunderstanding.
Please also consider that Hacker Gold will be on sale for a 9 week period, the last 5 weeks of which will be the hackathon itself. The platform will be there for everyone to see and evaluate. Nobody has to make a choice on the first day.
2. Another ICO looking to make some money/coins Roll Eyes. I think the project is great, but why on earth do you guys need so much money?
We appreciate that you think our project is great
and hope the answer above covers your concern.
3. What do u guys mean with "so much money" no actual value has been asked for has it? i think the 4M eth cap is for individual investors, not for the ICO itself. The ICO is taking place to fund the development of the Virtual Accelerator platform and possibly to fund other hackathons, i think
Funds raised from the sale of HKG will go towards the running of the Virtual Accelerator. There will be hackathons (or incubation periods) happening on a continuous basis, with the next event likely in May 2017.
We want to bring the biggest audience possible to the platform, and will be working to market it outside to a wider community. To establish an infrastructure that can work across different verticals, focusing on specific territories with specific needs. We have plans for partnerships, integrations with other platforms and ways in which to provide startups teams with ongoing support once they launch.
We have big ambition for the Virtual Accelerator. The size of the sale will determine what it is that we do and time it takes us to do it.
4. I still do not understand the concept behind the project, can someone with better understanding please explain the gap they are trying to fill
We believe the Virtual Accelerator is something that is sorely needed. A platform that will continually push the whole space forward by allowing great ideas to flourish and tangible products to be created. We currently have almost 1200 hackers signed up to work through some 300 ideas. That’s just the first hackathon. The potential in the community really is awe inspiring.
I hope this covers most questions and I thank you all for your interest in our project.
