2000 SKY/BTC, 100000000/2000 = 50000 BTC. The market cap will be roughly ~37mil usd
No. The market cap is the free float (the distributed, traded coins) times the price per coin.
At 2000 SKY/BTC, with 3% of the coins sold, the market cap is
- 3 million coins / 2000 SKY/BTC = 1500 BTC
- 1500 BTC * 720 USD/BTC is $1,080,000
The construction cost of 1 mile of 4 way highway is 4 to 10 million USD.The current Skycoin market cap is
- 2.4% of coins, 2.4 million
- 2500 SKY/BTC
- 2,400,000 SKY / 2500 SKY/Bitcoin = 960 BTC
- 960 BTC / 720 USD/BTC = 595,2000
Also, we raised most of the money when Bitcoin was at half its current price.
- We previously pegged to USD, because did not want the investors disadvantaged by declining BTC price
- So we pegged the SKY price to BTC, so that earlier investors would not be disadvantaged by the BTC price increase.
We priced the ICO price so that
- the price was high enough that we could fund 1 year of development
- the price was low enough and number of coins sold was low enough, that investors could reasonably get 20x to 50x return later (turning 50 BTC into 1000 BTC or 2500 BTC)
We do not think the days of Bitcoin going from $0.01 to $1000 and seeing 10000x returns are going to happen against, because market is much more mature now.
The biggest jump is always when coins go from developers and early adapters compiling from source and small community, to public listing on Poloniex and large speculators and people without wallet flooding in. Most of these people will never install the wallet, will never user the coin or any of its applications, will not contribute to development at all (many Ethereum investors do not have wallet and their coins only exist on the exchange). However, these are the people driving the market.
Instead of an Ethereum style IPO, were a large number of coins was sold (30%) at a higher valuation in an ICO, we decided to sell a smaller number of coins (few percent at a time), then distribute the rest over time. This would allow for a larger price multiple increase.
However, the large ICO is optimal for hype and marketing and easiest way to raise money.
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Another thing we learned, is that people just like to complain and no matter what you do, someone is going to going to be unhappy.
- We had severe mistakes that were really bad and no one complained about that, but which only had minor effect because was small amount of coins (like improper pricing of coins in 3rd party crowd sale). However no one complained or even noticed
- We have received loud complaints about things that seemed to us minor, hypothetical or irreverent. People seem to scream the loudest and fight the most about irreverent wedge issues than about things that matter (example: the blockchain size in Bitcoin).
We also learned that perfectionist is very bad and engineers will never launch anything because it can always be improved or there is always another problem. Perfectionism is paralyzing. So we should just launch whatever we can, as quickly as possible and just get it done.
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Now that its almost done and everything is nearly 100% completion (website, wallet downloads, CLI, WebRPC interface, first applications ready for packaging etc...). We are in a state of shock.
The rest of it, is marketing, documentation and community development. Those will be the most important things in the stage after technical development.
The development team will not be good at this and has no interest in it, so we have to build up a whole new team around this. We also need to develop our own platforms when possible.
When I look at Bitcoin, Litecoin, etc... They should have failed. They only do two things
- check balance
- send
There is not a clean, rational reason why people use them. The community, the hundreds of millions in mining rigs, the electricity use, speculation and trading. It is not intuitive what the factors driving the human activity and behavior are. What the purpose is and why people do it.
Examining the FED, the purpose is clearly slavery and keeping nations as colonies. That is what it was designed for and central banking for a top down, hierarchical society of elites ruling over a class of human cattle and harvesting them for labor and resources. It is very clear from how the system is structured mathematically, how it functions and how it evolved over time.
However, Litecoin? What drives litecoin adaption? Who uses it? Why does it have such a high price? Where does the money to pay for the mining equipment and electricity come from? What holds the user community together? How does the user community grow? What is its purpose?
It seems to be a completely speculator driven market, or "altcoin real money fantasy football" or "altcoin horse racing".
Which is great. It actually means all the work we did, does not actually matter. As long as there is a dream and something for people to buy and sell, they will go and do that. So the emphasis should be on creating a narrative for a speculator driven market and then giving people something to buy and sell.
If it works and is useful and people actually find it useful or real economic activity occurs, then that is just icing on the underlying psychology.
The altcoin market is still in a transition period between pure speculation, the dream of what is possible and a transition into real economic activity.
So the price is one thing, but the most important thing is what the coins intend to accomplish or change in the world. These new technologies are creating the conditions for a new era. The are creating the possibility for alternative visions for the future.
In that respect, Litecoin, etc... and even Ethereum are very boring. As long as you are focused on the coin price, instead of what you are trying to accomplish in the real world, it is difficult to get anywhere.
I think Assange may have a blockchain Christmas present for everyone. I think we are on the border of change and that these technologies are going to lead us there.
