Excellent News! Big Investment Proposal from Netherlands! Big Buy Coming Soon!I got a mail from Cryptobieb of the Netherlands yesterday.. They and a group of investors associated with them wish to make big investments in SWAT!
The first part of their mail to me is this..
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Dear Swatcoin Admin,
I am mailing on behalf of a local enterprise in the Netherlands that shares news and developments around blockchain and crypto in general. We have taken an interest in Swatcoin and would like to buy and do a piece on it in the near future. However, before we decide to invest a significant of our portfolio in Swatcoin there have been some lingering questions which we would like to get answered. We are hoping you would like to take the time to answer these. Our idea is to call and share the coin this Wednesday across the Dutch community via Telegram as well. We would appreciate it if it’s possible to answer this mail on short notice.
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See screenshot of mail below:
I have given below the entire transcript of the mail and my response to the queires below. This gives clarification to several questions that are in the minds of our own investor community members as well! Please go through the transcript.
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Hello Sven,
I have given below detailed answers to all your questions. In case you need further clarifications please send a mail to me.
Looking forward to your write up about our project and for your group's valuable investment in our project. Thanks for you trust in our SWAT coin project!
Regards
Dilip
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Questions and Answers:Total amount raised during ICOQuestion:Is there info available about the total raised in ETH or USD during the ICO?
Answer:Total funds generated for the project on WAVES DEX for the project = 56000 USD. This information is available on bitcointalk and other channels.
Question:If possible please outline per private sale, presale and public sale the total amount raised + bonuses that were included
Answer:30000 USD through Pre-sale/ICO (called off)/Further Promotions and Offers. 26000 USD own investment. Bonus offered during pre-sale 20% and bonuses offered through other offers such as Pocket Miner and additional bonus upto 50% in various schemes. Total 290 million tokens. When we shifted from WAVES DEX to ERC20 Tokens we issued 290 million tokens on a 1:1 basis for the existing Tokens on WAVES DEX. This was done before we listed in Yobit. After listing on Yobit, I gave away 25 million SWAT as InvestBox payments over a period of one month through three different IB plans in order to create awareness for the project and to promote the project.
Question:Are there any lock-up periods applicable for example for those who bought in the private sale? If yes, could you provide info on how long the tokens are locked?
Answer:There is no lock-up period. SWAT was traded on WAVES DEX from the first day of issue.
MiningQuestion(s):Is there any info available about the rate at which new coins get mined by the pocketminers?
If possible, we would also like the algorithm behind the creation of new tokens. I would imagine having more pocketminers in circulation means increased difficulty?
Is it true there is no maximum supply? If yes, how does the team prevent the price of the token to get diluted to keep the pocketminer interesting for future investors?
Answer:SWAT is not a unlimited supply coin. It's Max supply is 1.54 billion (please read white paper). Algorithm which shows clearly that the difficulty will be a function of number of pocket miners sold and mining and the price of SWAT is explained in the whitepaper. Coins will be mined by Pocket Miners based on our Emission and Difficulty criteria in built into our block chain at the rate of 77 Million per year for the next 20 years, (20 x 77 million = 1.54 billion minus the pre-mine of 290 million sold already) if we take it on a linear scale which is an approximation. Since the difficulty keeps increasing with the number of Pocket Miners sold and those which are actively mining we need to sell more Pocket Miners in the subsequent years.
Pocket Miner Corp keeps investing 40% of its profit back into the development and growth of the coin. As a result this keeps pushing up the price of the coin since we buy the coins from the market to give Quarterly airdrops. The benefit of this will be seen by the stability and growth in price of the coin.
BuybackQuestion:In the telegram group we were notified that there is a buyback plan ongoing to keep the Swatcoin interesting for future miners. Given there is no maximum supply we think having a buyback program could be a good idea. What are the details surrounding this buyback? Will it be a regular occurring thing? Please provide as much details as possible.
Answer:As explained earlier, Pocket Miner Corp keeps investing 40% of its profit back into the development and growth of the coin. As a result this keeps pushing up the price of the coin since we buy the coins from the market to give Quarterly airdrops. The benefit of this will be seen by the stability and growth in price of the coin.
We have also integrated an ad network into the mining APP. The revenue from the Ad Network will also be used in the above proportion for buy back. Buy back will happen every quarter which means it will be done 4 times a year.
We propose to generate additional revenue for the project through content delivery on the Pocket Miners. For example we give a trial offer of 1 month free subscription to Amazon Prime Video or Netflix which comes with the Pocket Miners and subsequently users can subscribe to these services through our project by paying with the mined SWAT. The affiliate revenue which comes from such subscriptions will be the third and most important revenue stream for the project. This will be implemented starting from the second half of 2019. This revenue too will be used to buy back SWAT from the market in the same proportion mentioned earlier.
InvestorsQuestion:In the past we noticed in that a few big investors were interested in the pocketminers. Is there a status update on this?
Answer:We are sufficiently funded currently to run the operation for the long-term with the revenue generated by the three different revenue streams mentioned earlier. We are in discussions with several investors to generate additional funds for quicker scaling up the operations of PM CORP which is an ongoing process.
Question:Does Swatcoin have any other investors that contributed in a major way to the development of Swatcoin? (e.g. venture capitalists)
Answer:As of now no. PM Corp as a parent company of the SWAT Coin project might opt for taking up venture capital funding or generate funds through private placements if and when the need arises in future.
NewsQuestion:Can we expect some new developments in the near future? If yes, what news can we expect by which timeframe?
Answer:
We have been strictly following our road map and achieving and beating our deadlines consistently till now. Recently we shifted to the Ethereum platform and developed a truly innovative lean mining app and tested it successfully, which does not take up too much resources to mine. We have also integrated Google's ADMOB mobile ad network into the mining app there by generating more revenue for the project to be shared with the miners. Such developments are an on going process and will be announced on all our channels frequently. You can expect more such development on the technology front and on the marketing front in the future.
TeamQuestion:
We have read Swatcoin is located in Sri Lanka. What is the story behind this? Are all team members native residents of Sri Lanka?
Answer:We do not have any member from Sri Lanka! I am the founding member of the team and I am located in India. Details of our Development and Management Team can be found here.
https://bitcointalk.org/index.php?topic=3308625.msg34529336#msg34529336Question:Is Swatcoin interested in doing a Know Your Developer (KYD) soon? This basically means a “show and tell” about the developers behind Swatcoin. For example a short bio, basic information like LinkedIn profiles, coins they have worked on in the past, other relevant working experience etc. We think KYD is a great way to increase trust and transparency.
Answer:We are a project that is absolutely committed to transparency! All the team members are on Slack, Telegram, Bitcointalk and Twitter and interact with the entire community regularly, though on telegram there is a closed group only for the D & M members.
We are in the process of revising the design of our website and during this process we will consider a more elaborate way to bring our team even more closer to the investing public.
CoinmarketcapQuestion:What is Swatcoins thoughts about listing on coinmarketcap? Are there any plans on this for the near future?
Answer:Coinmarketcap listing will come through soon is our expectation. We need more trading volumes on two exchanges approved by Coinmarketcap for better prospects of the listing to go through. We will get there soon.
Exchanges
Questions:Which exchanges is Swatcoin pushing for in the foreseeable future? Would you like to share your thoughts on this?
Can we expect a new listing soon?
What other methods is Swatcoin pursuing to increase liquidity?
Answer:Though we are listed on a couple of other exchanges the main trading happens on the SWAT/BTC market on Yobit. Exchanges like Bittrex need a legal assessment and opinion from a US based legal authority about the project's financial status as a non security as classified by SEC. We are working on this at the moment. Once this is done our future target is to get listed on Bittrex or any other exchange that does not do a paid listing. Yobit did not charge us a single Satoshi to get listed. 23 of us sent request to ADD SWAT Token through the ADDToken option on Yobit with nominal value Yobitcodes being sent with each request. None of the Yobitcodes were en cashed. We got a completely free listing which many find it hard to believe till this date! But it is the exact truth and all this is well documented on Bitcointalk. This shows their trust in the project. We will look for similar exchanges to get listed in the future too.
As far as liquidity is concerned we expect volumes to go up as soon as the mining activity picks up. We do not indulge in artificial trading to increase volumes. The trading volumes are and will be always determined by the market forces.
TelegramQuestion:We noticed there are quite a few bots in your telegram channel, hence the actual member count seems inflated. We think, in accordance with trust and transparency, that cleaning the chat of these bots helps improve Swatcoins credibility. Would Swatcoin be willing to contemplate cleaning the chat of these bots?
Answer:While we started the Telegram channel we offered some bounties to users and members for referring new users. There might have been a few young and enthusiastic users who might have applied in different names to get a few hundred SWAT as bounties.. We always take our members on their face value and trust them and paid them the bounties. In fact several members offered their only their individual holdings as bounties for this.
We do have a slack channel based on invitation which is like a professional work group. I can send you an invitation if you need one.
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On November 5, 2018 at 7:38 AM cryptobieb.nl wrote:
Hello Dilip,
Thanks for the quick response and apologies for any errors made. Looking forward to your response!
Thanks again!
Sven
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From:
admin@swatcoin.network admin@swatcoin.network <
admin@swatcoin.network>
Sent: maandag 5 november 2018 12:04
To: cryptobieb.nl
Cc: @cryptobieb.nl
Subject: Re: Questions regarding Swatcoin
Hello Sven,
Thank you for your interest in SWAT and in our project.
I appreciate your detailed mail based on extensive research on our project. There are may errors in the research. For example I am the founding member/developer of the project and I am based in India. We don't have any team member from Sri Lanka.
Will answer all questions in detail through mail later tonight or by tomorrow morning.
Once again I thank you for your interest in investing in SWAT and for your proposal.
You can expect to receive a detailed response to all your questions from me later tonight or by tomorrow.
Welcome to the SWAT Coin Community!
Regards
Dilip
Admin: swatcoin.network
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On November 5, 2018 at 4:25 AM @cryptobieb.nl wrote:
Dear Swatcoin Admin,
I am mailing on behalf of a local enterprise in the Netherlands that shares news and developments around blockchain and crypto in general. We have taken an interest in Swatcoin and would like to buy and do a piece on it in the near future. However, before we decide to invest a significant of our portfolio in Swatcoin there have been some lingering questions which we would like to get answered. We are hoping you would like to take the time to answer these. Our idea is to call and share the coin this Wednesday across the Dutch community via Telegram as well. We would appreciate it if it’s possible to answer this mail on short notice.
Total amount raised during ICO
Is there info available about the total raised in ETH or USD during the ICO?
If possible please outline per private sale, presale and public sale the total amount raised + bonuses that were included
Are there any lock-up periods applicable for example for those who bought in the private sale? If yes, could you provide info on how long the tokens are locked?
Mining
Is there any info available about the rate at which new coins get mined by the pocketminers?
If possible, we would also like the algorithm behind the creation of new tokens. I would imagine having more pocketminers in circulation means increased difficulty?
Is it true there is no maximum supply? If yes, how does the team prevent the price of the token to get diluted to keep the pocketminer interesting for future investors?
Buyback
In the telegram group we were notified that there is a buyback plan ongoing to keep the Swatcoin interesting for future miners. Given there is no maximum supply we think having a buyback program could be a good idea. What are the details surrounding this buyback? Will it be a regular occurring thing? Please provide as much details as possible.
Investors
In the past we noticed in that a few big investors were interested in the pocketminers. Is there a status update on this?
Does Swatcoin have any other investors that contributed in a major way to the development of Swatcoin? (e.g. venture capitalists)
News
Can we expect some new developments in the near future? If yes, what news can we expect by which timeframe?
Team
We have read Swatcoin is located in Sri Lanka. What is the story behind this? Are all team members native residents of Sri Lanka?
Is Swatcoin interested in doing a Know Your Developer (KYD) soon? This basically means a “show and tell” about the developers behind Swatcoin. For example a short bio, basic information like LinkedIn profiles, coins they have worked on in the past, other relevant working experience etc. We think KYD is a great way to increase trust and transparency.
Coinmarketcap
What is Swatcoins thoughts about listing on coinmarketcap? Are there any plans on this for the near future?
Exchanges
Which exchanges is Swatcoin pushing for in the foreseeable future? Would you like to share your thoughts on this?
Can we expect a new listing soon?
What other methods is Swatcoin pursuing to increase liquidity?
Telegram
We noticed there are quite a few bots in your telegram channel, hence the actual member count seems inflated. We think, in accordance with trust and transparency, that cleaning the chat of these bots helps improve Swatcoins credibility. Would Swatcoin be willing to contemplate cleaning the chat of these bots?
That’s it for now. We can imagine these are quite a lot of questions and we sincerely hope Swatcoin would like to take the time to answer these questions in full. In return we would like to reiterate that we are interested to buy large portions of Swatcoin and will call the coin in several channels. These channels have a reach of a few thousand investors, we will call SWAT as soon as we finished buying and have received information on your side.
Thanks in advance for your time and effort in answering this questions.
Dearest regards,
Writer & Researcher for Cryptobieb
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