How will the 96M Shares that aren't being sold be allotted?
Through Mining. Its basically Like NXT. With NXT their is 1 Billion coins in existence while Shares has only 100 Million and in which 4 Million Shares are sold to users before Launch. Mining Shares will be a difficult task to do as mining will be different then what you see in Bitcoin and other Altcoins.
NXT allotted all 1 billion coins on day 1, for which PoS coins have an argument about why this is a best practice. For SHS, what happens to the other ~ 96 million SHS on day 1 of launch? I understand that there will be an as of yet undetermined mining component - will the 96 million SHS not be allocated and only available through mining?
The 96 million Shares will be mined through a complicated system that hasn't been completed yet. I believe that isn't the best practice for PoS coins. As the days pass on I will be available to give you more information about the Mining situation.
Block_Erupter:
This is what was said and on what the initial investors had believed in.
This is what the picture should look like now.
If any major changes like this one are made you have to discuss with the investors who, after their investment, own the currency, and are entitled in making decisions.
Here's a fact: After this crazy shit that you've pulled here you will never get any more investors in this currency, because no one will trust you any more.
Are you really saying that the coin developers should get 995 BTC in investments before it is even launched? Really? Dude, that's a million dollars, which means that this whole thing is a scam. The developers can then do a couple of months work and quit after releasing a somewhat flawed code and say that it is done.
It's not fair to the early investors, who believe in you that you would make their investment worth nothing. Its a bit different to own 2,5% of the released currency (100000 shares, if 4 million is distributed) than to own 0,1% of the release currency (100000 shares, if 95 million shares is distributed).
The only way from here on is:
A: To change things back to where they were.
B: To deliberate about the possibility of a second IPO, and if it is held the later investors should get a lot
LESS shares, than the original investors.
Here anyone can observe that neither the chinese or you have any knowledge in economics or daily business, because this idea of distributing second round investors 20x more at the same price is totally fucking
absurd! You just can't do this to the original investors, and I will tell you that this whole coin will be justly announced as a scam if you do not change this.
C: Return the investors money.
