[ANN] [CVC] CIVIC Tokensale Successfully Completed

[mitchr4]

presale ended around 2800 price is now 2400 that a 14% loss on the 33% of refunded coins, because they now have to return 14% more coins to the presale buyers at 2800... thats a pretty chunky if btc doesn't rebound before the crowdsale

They probably just return 33% of the coins received.

right, but if those people paid for civic at the price of 2800... you think the team is going to fuck those people and return the coins as if the price is still 2800 even though its dropped to 2400? That would be pretty fucked up.

Refund is the same currency that pre-sale purchasers paid, e.g. BTC or ETH. We got no pushback on this so seems like most users are ok with the exposure to the same currency they paid with.

Wait so you're going to give back 33% of what was paid at the price of 2800? Because that would be horeshit. I don't mind getting back btc, but it should be at the current price, because we were asked to pay 50 grand worth of btc for the presale. You're seriously going to keep the price pegged at 2800 for the return of the 33%?

[brian_nguyen]

presale ended around 2800 price is now 2400 that a 14% loss on the 33% of refunded coins, because they now have to return 14% more coins to the presale buyers at 2800... thats a pretty chunky if btc doesn't rebound before the crowdsale

They probably just return 33% of the coins received.

right, but if those people paid for civic at the price of 2800... you think the team is going to fuck those people and return the coins as if the price is still 2800 even though its dropped to 2400? That would be pretty fucked up.

Refund is the same currency that pre-sale purchasers paid, e.g. BTC or ETH. We got no pushback on this so seems like most users are ok with the exposure to the same currency they paid with.

Wait so you're going to give back 33% of what was paid at the price of 2800? Because that would be horeshit. I don't mind getting back btc, but it should be at the current price, because we were asked to pay 50 grand worth of btc for the presale. You're seriously going to keep the price pegged at 2800 for the return of the 33%?

I see your point and they have to figure something out, perhaps some compromise. We did have BTC/USD ratio at 6:00AM on the day of the contract.

[haidil]

a will be waiting your baunty thanks..

[GGALINff]

it's probably the risk that the payer assumed in the presale.  However,  if the company sold the BTC,  they may have ethical obligation  (possibly legal)  to return as close to the $ amount they sold for.  (since everyone knew it was a low probability of the money not having to be returned)

Who knows,  will be interesting to see how it plays out.

[Marina_T]

So is the team prepared for this scenario...

1) Pre sale sells out ($50k minimum donation) = Whales have entered Civic
2) ICO sells out ($25k max contribution), making countless transactions from different addresses at the $25k max = Whales solidify their position
3) ICO sells out in a few minutes
4) Us small investors again have to bend over and take one for the team (which we are not in btw)
5) Token price and to some degree the success of the project is now centralised. 

What steps are you taking to ensure this will be a fair distribution?

Wagerr and Status are making great inroads in ensuring some degree of fairness. Vinny.. Your thoughts?

reply would be nice on this question

We will publish a FAQ soon and that will be covered. Make sure you subscribe for updates at tokensale.civic.com

[idolacchacked]

Wait so you're going to give back 33% of what was paid at the price of 2800? Because that would be horeshit. I don't mind getting back btc, but it should be at the current price, because we were asked to pay 50 grand worth of btc for the presale. You're seriously going to keep the price pegged at 2800 for the return of the 33%?

You guys are cracking me up.

So let me see if I understand this. You want to benefit from the high BTC price from the pre-sale (around $2800) for the 66% of your order that is fulfilled, and then on the flip side you want to benefit from the low price of BTC at refund time on the 33% that didn't get allocated? Talk about having your cake and eating it too.

If one were just to check their pre-sale contract they would find it is spelled out very clearly:

Refunds will be made in the same Payment Currency as the Purchaser used to pay the Purchase Price per Section 1 and will be calculated using the applicable Exchange Rate set forth above.

Exchange Rate BTW, is the rate at the top of the contract from 6AM EDT when the contract was generated.

it's probably the risk that the payer assumed in the presale.  However,  if the company sold the BTC,  they may have ethical obligation  (possibly legal)  to return as close to the $ amount they sold for.

They didn't sell. Anyone that did a pre-sale can check the blockchain and will see the coins haven't moved.

btc has been moved

[Herdirfauzi]

Great, I hope this project will be successful dev ..

[CrossOps]

So, in order to participate we need to install / register with the Civic App correct? If that is the case, its only showing the IOS version currently...

https://www.civic.com/app

I do not own anything apple / iOS. Is there going to be an android variant in time for the rest of us?

Does anyone else have any information about the app for android?

[angrybirdy]

So is the team prepared for this scenario...

1) Pre sale sells out ($50k minimum donation) = Whales have entered Civic
2) ICO sells out ($25k max contribution), making countless transactions from different addresses at the $25k max = Whales solidify their position
3) ICO sells out in a few minutes
4) Us small investors again have to bend over and take one for the team (which we are not in btw)
5) Token price and to some degree the success of the project is now centralised. 

What steps are you taking to ensure this will be a fair distribution?

Wagerr and Status are making great inroads in ensuring some degree of fairness. Vinny.. Your thoughts?

reply would be nice on this question

We will publish a FAQ soon and that will be covered. Make sure you subscribe for updates at tokensale.civic.com

Hi there Marina_T,

Whenever the FAQ is established or published, I would like to translate in in Filipino language because most of the time, this kind of project is being overlooked just because of the complexity of the terms/words used. Looking forward to the 21st of June. Good Luck.

[chalkboard17]

I just wonder do we have any bounty for members here so that they can advertise to more people. SOme giveaways are very good, right? Do not forget that and bounty can make great effect to participants

[sarsbuk]

HI Marina_T

Any news on when the Android version of the app will be released?  

I also question, that when registering with Civic you need to supply a USA Telephone Number and this cannot be changed to UK for example.  So it seems only US customers will be eligible to purchase in the ICO.

[CrossOps]

Are we blocked from participating if we are in the USA? That's seriously messed up if its true.

[Marina_T]

So, in order to participate we need to install / register with the Civic App correct? If that is the case, its only showing the IOS version currently...

https://www.civic.com/app

I do not own anything apple / iOS. Is there going to be an android variant in time for the rest of us?

Does anyone else have any information about the app for android?

It is planned to be released by Monday. Thank you for staying patient.

[Marina_T]

Are we blocked from participating if we are in the USA? That's seriously messed up if its true.

No, you are not. There is no block by country.

[brian_nguyen]

I really like how https://tokenmarket.net allows Civic users to sign up for an account. Works perfectly the way it's intended.

[sarsbuk]

Are we blocked from participating if we are in the USA? That's seriously messed up if its true.

No, you are not. There is no block by country.

Thanks for this message, I have removed/edited my message.   This is a huge plus that you will not be blocking US based investors. 

I am Non-US but it shows Civic is doing things right if it is open to all. 

[Meteeray]

The ico date is very close but there is not yet a bounty. Translations can be very helpful in spreading the project

[Dilerium90]

The ico date is very close but there is not yet a bounty. Translations can be very helpful in spreading the project

So, they don't need this kind of marketing and i think this is good, becouse they reliant in crowdsale and in a fast ico.

[CrossOps]

It doesn't need a bounty. So tired of hearing about bounties. Spend the money.

[animosity2k1]

Do we need to verify identity before donating? Can we send ether via myetherwallet.com and a nano ledger wallet? Will the tokens be receivable back to the nano wallet? Thanks for the help!!!