Thank you for your questions, they are addressed below.
* How many people are working full-time on the project? It seems that at least two of the team members listed on the website (Brent Kievit-Kylar, working at Google, and Nathan Wosnak, President of Ubitquity LLC) also have other commitments.
Some of our team members have other commitments as specified in their profiles on our team page. However we have 2 full time co-founders Chris and Marc, Nathan is involved with Equibit on a daily basis and continues to put a lot of hours in, same for Brent he's actively involved. For devs see below.
* How many people have non-trivial contributions to the codebase of the project (i.e. are active developers)?
We have 4 developers who are contributing to our codebase, 3 full-time one part-time however even as a part-time he still continues to contribute extensively.
We will be able to disclose the code in due course.
* Do you have an office?
Yes we have an office as described on our website but operations are currently distributed.
* How many companies do you have in the pipeline, which have agreed to issue shares on the Equibit platform?
Quite a few companies have inquired on how Equibit could suit their needs. One of them has a shareholder register with over 30,000 investors, however at this time we cannot disclose names. Stay tuned for announcements in the near future as things progress.
* When do you plan to release a development roadmap?
This is currently being worked on and we will be ready to present it shortly on our website.
* Why isn't the project open source and do you have any demonstrable evidence of the work that has been ongoing for the year since the seed round?
Development is ongoing, as you can see our GitHub is private as we are not ready to present the code until it's ready.
We are also working on a demo to show how things are progressing, we hope to be able to share soon.
* How do you arrive at the weighted average price of $6.66/coin for the ICO?
All the info is in our Terms of Sale under paragraph
3. EQB Pricing.
http://equibit.org/equibitico.pdfThe reason we went for tranches is to let the market decide what EQBs are worth.
Last, but not least: earlier in the thread someone mentioned the fact that a company, which wants to issue shares on the Equibit platform, doesn't need to buy a lot of Equibits -- they only need to buy one and can then split it into 10M pieces. IMHO, this is a huge issue, as I don't see any reason why every company wouldn't do exactly this. In light of this, how did you decide on a starting supply of 1M coins from the ICO? This would effectively mean that 1M companies can use the platform. I don't think this is a realistic expectation even in the very, very long-term and will most certainly drive the prize of Equibits down even without considering the fact that there are an additional 21 million to be mined. A genuine question related to this: how many companies are trading OTC in the world at the moment? I tried looking this up, but couldn't find any guesstimates.
Yes EQB's are divisible to 8 decimal places just like bitcoin. That being said, there are literally millions of companies worldwide that can make use of this system and many of them are going to need much more than 1 EQB. Apple has 5.3 billion shares in circulation and so just to re-create that they would need a minimum of 53 EQB... And even then a single satoshi's-worth of those shares would be $122. It's more likely that large companies would use several hundred EQB to create their issuance in order to ensure the liquidity of their company.
