[ANN] Blacknet BLN | Staking | Future of zApp & ZeFi

[Astroxjr]

Im not trying to discredit anyone, but you are taking donations and spending them before you reached your target goal? you are contradicting yourself here. You say that you HAVE to cash out to use the donations, so you confirm that youre already using donations and you confirmed that you have not reached your goal as well...
So what happens if you do not hit your goal? will you fund the rest yourself? will you repay the donations? If you expect to do that then please tell me how. If the market crashes then YOU are responsible to make up that difference back to the donator if said project doesnt get off the ground. Using your same logic, you would have to pay them back the FIAT amount. So If I donated 1 BTC but called it 440$ and then you spend that 440$ on models or water or t shirts, but never get the rest of your funding to continue. Then say people want a refund because you didnt deliver. How are you going to cover the rest? You doom a project from the start if you begin to spend project funds before the goal for the target has been met. Do you see where Im going with this? You expect us to take your financial advice, and try to discredit the PR thing, but you are making one of the biggest rookie mistakes by spending your funds before you have amassed them all.

Swapping the donated alt-coins to FIAT is not using them.
It makes absolute sense to cash them out at the donated times face value - as that was the intention of the donation.

Had i sent 5k BC when price was 50K, and he not chased them until price was 25K i would be pissed my effective donation I feel I made was cut into 50% for no reason. Same with BTC.
Holding onto any Alt coins that are donated is too dangerous when your working towards a monetary target.

We could have $11900 raised in BTC on the 15th, price tanks and then project is messed up as the value is now $5000

It makes absolute sense of any project needing FIAT to swap the donation ASAP.
I don't want the guy doing the PR (or team) to speculate with the funds.

[1713423090]

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[barabbas]

Some bullet points of significance:

-- The Doge: In the Blackcast, effectively, you said you rolled your joint but someone not paying attention to the preliminaries would have easily missed that and take that your were smoking grass as a statement... as, in fact, by your own recognition, you were making that statement only about tobacco. Sir, you came off, by far, the most eloquent of the group. By far. But your tobacco/grass statement was made and perceived by the audience and, sir, when you are representing BlackCoin, those "statements" are simply damaging for the image of Blackcoin. Besides, the three of you smoking seemed like a clumsy and blatant "product placement" of the tobacco/grass industry. You are obviously free to smoke whatever you want but you should think a few times what you do when you publicly represent BlackCoin. And someone should have advised you three that simultaneously smoking constantly during the blackcast was simply not acceptable. Naturally this critique would have more than probably be banned in your other forums: Contrary to pretensions otherwise, those other forums ONLY look for compliance, censorship and avoiding deserved -and beneficial- criticisms. You guys are NOT doing BlackCoin any good hiding in plain sight. You will have your followers, of course, but don't be fooled, the people investing in BlackCoin will go there where the TRUTH, in all it's sides and implications, is freely spoken, not to the "domesticated" sites you control.

-- morituri13 Who are you, sir? How much (in specific numbers and the wallet number for corroboration) have you invested currently in BC and what are your credentials to not only be a member of the "Foundation" but one outspoken one at it? "Small business owner" (thank you for at least giving that bit out), as in having an eBay seller account, hardly qualifies. But why don't you dissipate all doubts and tell us all who you are and how invested in BC you are.

-- Transparency. We all want it. Doge, we learned in the blackcast that when called you had "the team" ready. Who are them? What entitles them to be part of the proposed -or formed- "Foundation. As fellow investors, we NEED to know who this people are, what their level of investment is and why they volunteer to guide BC's destiny going forward, otherwise the entire group will be perceived as your sock puppets and we don't want to have that perception, do we?

-- Multipool. DOGE, I am still extremely confused about who is behind the multipool and running things there: Soepkip stated that the multipool "is not connected with the dev team" and that "it is important but not vital to BC". If you are "the man" behind that business (and that is exactly what it is, a profitable business, aside and benefiting from BC), can you please clarify? Who runs things at the Multipool, on the controlling side and on the tech side? and is it or isn't it a part of the BC project or a separate business profiting from it, meaning YOU, profiting from it? Look, you have invested time, money and a lot of effort in bringing this coin out and are responsible for it's success so far. If you are really invested in it, you have profited already enormously, to the tune of many thousand % of whatever was your initial investment. And that big stash of BC will make you even richer, very much richer indeed, if BC reaches a substantially higher valuation. THAT, sir, should be your motivation. If the multipool is a business on the side, then it should compete in offers with other pools ready to take on the BC business and RESPONSIBLE for whatever shortcomings -and DDOS attacks- they may have. If one multipool fails, for whatever reason, there have to be immediate back ups in numbers to insure practically flawless, continuous operation. If the multipool is in fact a "side business" or yours. If it is a business of BlackCoin, meaning all proceeds from it go to BlackCoin development, we need to have that aspect clear as clear water.

On the multipool point: Who makes the decisions as to what coins are mined? and why, which are his qualifications for that, what the strategy? Are the mining proceeds converted to BlackCoin immediately, regardless of the trading rate or, as I have read, those proceeds are first converted to BTC, held, and then converted to BC on "dips". Finally, officials at Cryptsy have stated that the delays reported and blamed on them yesterday, regarding payouts to miners, were in fact Multipool's fault for not having established 2FA, which is required from everyone. What was it?

-- Iconic's attacks. Although there's some poetic justice in the developments of the last 48 hours on that field (he's the one prone to promote bannings of dissenting people... dissenting with some or all or his opinions/methods), the juvenile peculiarity of the attacks, the viciousness in some cases and the totally inappropriate way of going about it by a seemingly coordinated gang, totally discredits those -including the devs- who have willingly and repeatedly participated, instead of the chosen target. Once again, I find the guy generally regrettable, an out of control dangerous egomaniac without capability of accepting criticism and in on this to make a buck by any means he find necessary, both on the coin valuation and on side business such as his card. But the attacks on him personally are, clearly, politically motivated. I don't personally know how much has he invested in BC but I am fairly sure he won't have any problem showing his wallet for everyone to see. If for no other reason that to keep him in check and benefit from some of his ideas, the proposed "Foundation" should have offered him a seat in their board. But it seems that the Foundation, with or without quotes, is more or less a fan club (of the DOGE) grabbing territory before "that crazy guy" gets the bulk of the community on his side and actually running things". Hastily doing so, can easily prove to be counter intuitive and obviously shows weakness. Repercussions, potentially serious ones, are sure to follow.

The "team" is me and St.Gnu + 3 developers that I pay out of pocket to work full time for us. They are not in the foundation, they are employees of LDG, they are my employees that get paid from my pocket, and I don't feel I have to justify to you are anyone why I hired them.

I run the pool along with St.Gnu, we are 100% equal partners, and an algorithm decides which coins to mine, the reason the acct didn't have 2fa is cause it was a brand new account, and required more than one person to access it for a day or two while we set up our automated liquidation system. Since 2FA makes it impossible to share an account, we had to forego it (although it's active now.) Another problem we ran in to, was cryptsy locks new accounts that have influx of a large volume of coins (we did not know this, and our account is fully vetted to the maximum degree now.)

I don't know how you are calculating profit, but everyone can see our hash rate, what coins we mine as well as how many blocks of that coin we get, and then do a calculation on how much we earn. Trust me when I say it's not a lot (go on do your own math and figure out what 2% from our daily haul.) It's not nearly enough to sustain the development that I am currently managing. Yes the pool fees are great for covering things like the server costs, cloud flare (200 dollars a month alone) as well as any little ol' problems that pop up and require some money (and they always do.) How ever these fees do not come even close to covering 3 peoples salaries week to week.

Me and gnu have given up and foregone profit, I am working the pool full time and so is he. We pass all of our profit along to the other programmers, including whatever's left of the fees after the server and cloudlfare are paid out. We have never once asked for a penny from the community, and have declined numerous donations.

The foundation consists of community members outside of the dev team, me and rat4 are the only people from the dev community that are on the foundation so far (as far as I know.)

We are currently working on a website that will be up with in a day or two, that will introduce everyone to the current foundation members. There's about 15-20 foundation members, all well known from the community since day 1. The website will not only provide full transparency of who is on the foundation, but will allow people to see current active foundation projects, and even possibly vote on where to focus the foundation's efforts next.

Transparency, I understand everyone wants it, but it takes time to build the tools to make sure that transparency is readily available. It's coming with the website, and will be greater expanded as we create the tools necessary to open up information to everyone.

I have even put my designer (that I am paying from my own pocket) to design the website, so it looks nice clean and professional, and all the information will be delivered in a nice coherent manner.

The multi pool is just one tiny facet of what we are developing, and our multi pool will be the most advanced multi pool available on the internet. Even the features we are pushing and testing today such as bucketed dynamic hash rate assignment per coin to maximize the amount of blocks being mined with out running in to the diminishing return problem of over saturating a coin have never been seen in a multi pool before.

If you have any further questions, or feel that I have answered anything in an unsatisfactory manner, feel free to contact me in IRC, if I am awake I answer 99% of all PM's, or send your questions to the BlackCast, and I will gladly answer them on air.

Thanks.

Edit: Also as far as Iconic is concerned and a board seat for him, although membership is available to mostly any one who is interested in joining, and has some resources to commit, I highly doubt after all of the attacks on the foundation, the development team and the community that the foundation would consider his membership. Had he approached this civilly, there would be absolutely no reason why he would not be able to have a seat on the board.

Thank you for your answers. Just to make sure I "get it": The Multipool the is, in fact, a business owned by you and St.gNU?, right? Nothing to do, otherwise, with BlackCoin with which you would be operating  is an associated basis with no payment either from or to BlackCoin, right?

Of course, as such, you are under no particular obligation to justify who you employ in the multipool business but you are still 100% responsible for it's security, fluency in payouts and strategy (when, how and where are those mined coins converted to BC, specifically). And back up. Responsible to BlackCoin which would make a very strong point of having "plan B" since this wonderful pool is susceptible to very efficient if basic attacks. DOGE, what the business of the pool makes is irrelevant, you understand. You are in it because it is profitable one way or another to you, otherwise there are lieterally thousands of multipools that would more than gladly take our business in a split second. And they make profits and charge, in some cases, less fees than  yours do.

Just making sure we are clear in different points.

In a different post previous I state why the idea of the Foundation is a terrible one that will in fact, potentially, destroy BlackCoin, please read it. That they are "very well known" members of the BlackCoin community means absolutely nothing for no one really knows who is anyone else and very few have volunteered their positions and wallets (so far one, specifically) while it is abundantly clear that this group of individuals, their friends, family and associated would be exposed to in formation, constantly that allows them to take unfair advantage of the marketplace for BC. I know you personally care about BC being a currency with a great future... please give extensive thought to this because I am telling you right here, right now, it would mean the end of any possible future for BlackCoin. In a hurry.

I don't think you quite grasp the meaning of "transparency". It cannot be provided by a website, so right there, forget it. A Forum like this, yes it'll work. A website that would continuously be full or "... and many more things we are working on that we cannot yet tell you about..." won't do anyone any good in that regard. There's no space in an open source community to secrets of any kind. If you want to mention -and you should- what it is you are working on that it is going to be so wonderful, just say what it is. Competition be damned... if we are not way better than the competition anyway, we are bound to failure so let them try, accept their challenge. Be the best.

The PR autosilence?  You are the paying customers, what the hell is this? You are dealing with a company, if they refuse you monday because you told your constituents who you were engaging, there are a thousand others willing to sign in on the account. You, we, BlackCoin is the customer, the account, the one paying them. We choose to be or not to be silent, not them.

As IE's antagonistic stanza it should be just another indication as to why the idea of a "Foundation" at all is a very bad one simply with no potential benefit of any kind.

Thanks again for your answers and your availability. It seems that you guys are intent in taking the debates to either irc or a more controlled environment. Well I will pose my questions here, as will others. It's for you to chose to answer them or ignoring them. I will be here.

[IconicExpert]

Swapping the donated alt-coins to FIAT is not using them.
It makes absolute sense to cash them out at the donated times face value - as that was the intention of the donation.

Had i sent 5k BC when price was 50K, and he not chased them until price was 25K i would be pissed my effective donation I feel I made was cut into 50% for no reason. Same with BTC.
Holding onto any Alt coins that are donated is too fucking dangerous when your working towards a monetary target.

We could have $11900 raised in BTC on the 15th, price tanks and then project is fucked up as the value is now $5000

It makes absolute sense of any project needing FIAT to swap the donation ASAP.
I don't want the guy doing the PR (or team) to speculate with the funds.

Thank you for that. I haven't touched a dime of the donations. All I have done is converted to FIAT to protect the value of the donation. When we reach our goal I will be posting detailed info on everything I buy with the funds.

[Joe Budden]

SHIT, it almost took me 2 days to catch up reading.
but i fckin  love it

MESSAGE TO YOU SOEPKIP IM NOT FUCKING LEAVING IM STAYING RIGHT HERE AT BTCTALK

[crazyhashmanz]

Pretty disappointed reading these posts lately. Some fuktard and his wife begging for BC like a 12 year old kid. Gonna peddle BC pamphlets with some girls hired off craigslist. Fuking pathetic really - sounded good at first but why doesnt this guy scale his shit down to size - like 4 girls and his wife for starts and take proceeds from that and then maybe 10 rather than sponge from the community to self promote himself to the next pool.

Really......wake up people.

As for the multipool - that's a choice. You either use it (I do) or you mine trade yourself or make your own pool Who is going to tell you you xan't. Don't trust the multipool then don't use it - I never liked that fat fuk at Mt Gox myself so never traded with them - he was an official fukhat of the btc organization - so much for that nonsense.

You got a handful of developers that got their shit together - the rest are just self promoting amateurs really.......

Would be nice if the holders of BC acted their part - I'd be embarrassed to recommend these posts.

[Absynth]

Im not trying to discredit anyone, but you are taking donations and spending them before you reached your target goal? you are contradicting yourself here. You say that you HAVE to cash out to use the donations, so you confirm that youre already using donations and you confirmed that you have not reached your goal as well...
So what happens if you do not hit your goal? will you fund the rest yourself? will you repay the donations? If you expect to do that then please tell me how. If the market crashes then YOU are responsible to make up that difference back to the donator if said project doesnt get off the ground. Using your same logic, you would have to pay them back the FIAT amount. So If I donated 1 BTC but called it 440$ and then you spend that 440$ on models or water or t shirts, but never get the rest of your funding to continue. Then say people want a refund because you didnt deliver. How are you going to cover the rest? You doom a project from the start if you begin to spend project funds before the goal for the target has been met. Do you see where Im going with this? You expect us to take your financial advice, and try to discredit the PR thing, but you are making one of the biggest rookie mistakes by spending your funds before you have amassed them all.

Swapping the donated alt-coins to FIAT is not using them.
It makes absolute sense to cash them out at the donated times face value - as that was the intention of the donation.

Had i sent 5k BC when price was 50K, and he not chased them until price was 25K i would be pissed my effective donation I feel I made was cut into 50% for no reason. Same with BTC.
Holding onto any Alt coins that are donated is too fucking dangerous when your working towards a monetary target.

We could have $11900 raised in BTC on the 15th, price tanks and then project is fucked up as the value is now $5000

It makes absolute sense of any project needing FIAT to swap the donation ASAP.
I don't want the guy doing the PR (or team) to speculate with the funds.

youre missing my point, which is if he doesnt reach target goal then the price of btc tanks and people want him to pay them back, how is he going to do it? either he pays them back at a huge loss to himself. or he creates a double standard, where your donation = fiat value at the time of donation coming in, but going out it would be a 1:1 BTC in:BTC out. or if the price goes up during that time he gets to pocket the profits for not doing anything. This hinges on the premise that target goal is not reached.
and also he states one page back,  how do you expect me to use them (donations)? meaning he is already spending the fiat

[Subtuppel]

I am on Crystal Meth

and another account that has postet at fluttercoin only and then a single brown-nosing post regarding the blackcast....
fuck off, troll.

[crazyhashmanz]

Thanks for noticing I hold flutter and BC

Glad you're losing your a$$ it shows

I'll be buying your fire sale next. You have a history of downplaying those you perceive as new and thinking too much of yourself.

[barabbas]

barabbas I do not have 800k. That whole ledger looks wrong. I have not made a single transaction since 4/28. I don't know what that is showing.

edit: I asked for explanation and apparently staking is somehow shown as transactions... and when you see 800k it is at the end of the block in which 400k staked?

I do not understand it myself but I hope you will investigate and come to your own conclusions. Perhaps there is a better blockchain viewer?

http://blackcha.in/address/B83HKi1wqsZHqJSH6u24CYUxyqD51VKRrE

Even more confused. Apparently the figures taht I and everyone can see posted, are not real, a mirage of some shorts; another guy posts the same identical link and blkuntly states that the wallet has never had anything higher that 500k. And now (thanks Substuppel) another viewer is posted that shows that the account wallet has in facta held over 600K at some point.

How to reconcile this? To a newcomer to BC, how would this look? Scammy? Just plain confusing? Not inviting, that's for sure. Is there any link to the REAL, one and only blockchain that shows, without any possible room for doubt, what have been the transactions? Talk about cleaning house...

And, by the way, Arigard and the resty of those 15-20 people self-appointed to the future "Foundation", no one else wanting to come forward ans say who they are, what do they bring to the table and what are their stakes and where so we can see what is the level of their interests? Anyone?

[Astroxjr]

youre missing my point, which is if he doesnt reach target goal then the price of btc tanks and people want him to pay them back, how is he going to do it? either he pays them back at a huge loss to himself. or he creates a double standard, where your donation = fiat value at the time of donation coming in, but going out it would be a 1:1 BTC in:BTC out. or if the price goes up during that time he gets to pocket the profits for not doing anything. This hinges on the premise that target goal is not reached.
and also he states one page back,  how do you expect me to use them (donations)? meaning he is already spending the fiat

Ahaha ! now we are getting somewhere ....


I actually asked this myself in a post earlier, but with all the FUD posts, it may have got lost.
However I approached it differently, as in should we miss the target then what ?

Its pointless to ask for your donation back, i would think an extension or a dumbed down project (lets debate if we need to) should be the way forwards.
If we have 8K, is it best to hold off for another two weeks to raise that to 12K or just call the whole thing off ?

I did not send my donation(s) with any intention of them been returned - I want to see the PR project happen, but lets worry about what happens if we miss target afterwards.

[mr_random]

barabbas I do not have 800k. That whole ledger looks wrong. I have not made a single transaction since 4/28. I don't know what that is showing.

edit: I asked for explanation and apparently staking is somehow shown as transactions... and when you see 800k it is at the end of the block in which 400k staked?

I do not understand it myself but I hope you will investigate and come to your own conclusions. Perhaps there is a better blockchain viewer?

http://blackcha.in/address/B83HKi1wqsZHqJSH6u24CYUxyqD51VKRrE

Even more confused. Apparently the figures taht I and everyone can see posted, are not real, a mirage of some shorts; another guy posts the same identical link and blkuntly states that the wallet has never had anything higher that 500k. And now (thanks Substuppel) another viewer is posted that shows that the account wallet has in facta held over 600K at some point.

How to reconcile this? To a newcomer to BC, how would this look? Scammy? Just plain confusing? Not inviting, that's for sure. Is there any link to the REAL, one and only blockchain that shows, without any possible room for doubt, what have been the transactions? Talk about cleaning house...

And, by the way, Arigard and the resty of those 15-20 people self-appointed to the future "Foundation", no one else wanting to come forward ans say who they are, what do they bring to the table and what are their stakes and where so we can see what is the level of their interests? Anyone?

Haven't you got anything better to do than constantly criticising everything involving Blackcoin? What is your purpose here?

Every post I've ever seen of yours is constant negativity and bashing things.

[Subtuppel]

barabbas I do not have 800k. That whole ledger looks wrong. I have not made a single transaction since 4/28. I don't know what that is showing.

edit: I asked for explanation and apparently staking is somehow shown as transactions... and when you see 800k it is at the end of the block in which 400k staked?

I do not understand it myself but I hope you will investigate and come to your own conclusions. Perhaps there is a better blockchain viewer?

http://blackcha.in/address/B83HKi1wqsZHqJSH6u24CYUxyqD51VKRrE

Even more confused. Apparently the figures taht I and everyone can see posted, are not real, a mirage of some shorts; another guy posts the same identical link and blkuntly states that the wallet has never had anything higher that 500k. And now (thanks Substuppel) another viewer is posted that shows that the account wallet has in facta held over 600K at some point.

How to reconcile this? To a newcomer to BC, how would this look? Scammy? Just plain confusing? Not inviting, that's for sure. Is there any link to the REAL, one and only blockchain that shows, without any possible room for doubt, what have been the transactions? Talk about cleaning house...

And, by the way, Arigard and the resty of those 15-20 people self-appointed to the future "Foundation", no one else wanting to come forward ans say who they are, what do they bring to the table and what are their stakes and where so we can see what is the level of their interests? Anyone?

your having it wrong. it is over 6 MILLION sent and received, it does not say anything about the "peak balance". and its 411k current.
I do not see any problem with that. (although i have to admt that i did not go through all transactions...)

[Thomas-s]

barabbas I do not have 800k. That whole ledger looks wrong. I have not made a single transaction since 4/28. I don't know what that is showing.

edit: I asked for explanation and apparently staking is somehow shown as transactions... and when you see 800k it is at the end of the block in which 400k staked?

I do not understand it myself but I hope you will investigate and come to your own conclusions. Perhaps there is a better blockchain viewer?

http://blackcha.in/address/B83HKi1wqsZHqJSH6u24CYUxyqD51VKRrE

Even more confused. Apparently the figures taht I and everyone can see posted, are not real, a mirage of some shorts; another guy posts the same identical link and blkuntly states that the wallet has never had anything higher that 500k. And now (thanks Substuppel) another viewer is posted that shows that the account wallet has in facta held over 600K at some point.

How to reconcile this? To a newcomer to BC, how would this look? Scammy? Just plain confusing? Not inviting, that's for sure. Is there any link to the REAL, one and only blockchain that shows, without any possible room for doubt, what have been the transactions? Talk about cleaning house...

And, by the way, Arigard and the resty of those 15-20 people self-appointed to the future "Foundation", no one else wanting to come forward ans say who they are, what do they bring to the table and what are their stakes and where so we can see what is the level of their interests? Anyone?

3 different sites:

[bitcoin carpenter]

Well at least we don't have mining to worry about lol

[morituri13]

Thank you Thomas-s the third chart looks accurate. Barabbas, please use that website! And please be nicer I am trying to be as polite as possible!

[Joe Budden]

Pretty disappointed reading these posts lately. Some fuktard and his wife begging for BC like a 12 year old kid. Gonna peddle BC pamphlets with some girls hired off craigslist. Fuking pathetic really - sounded good at first but why doesnt this guy scale his shit down to size - like 4 girls and his wife for starts and take proceeds from that and then maybe 10 rather than sponge from the community to self promote himself to the next pool.

Really......wake up people.

As for the multipool - that's a choice. You either use it (I do) or you mine trade yourself or make your own pool Who is going to tell you you xan't. Don't trust the multipool then don't use it - I never liked that fat fuk at Mt Gox myself so never traded with them - he was an official fukhat of the btc organization - so much for that nonsense.

You got a handful of developers that got their shit together - the rest are just self promoting amateurs really.......

Would be nice if the holders of BC acted their part - I'd be embarrassed to recommend these posts.

People still bashing iconic WOW. Attacking his wife and kids,  who the fuck are you hiding behinda shill??

[Subtuppel]

Thank you Thomas-s the third chart looks accurate. Barabbas, please use that website! And please be nicer I am trying to be as polite as possible!

they do all show the same, i dunno for what reason blackcha.in has only 113 transactions, but there seems to be some loading issue so it might be not correct at this moment.

[Astroxjr]

Have we not had issues with blockchains not showing correctly in the past with BC ?

[barabbas]

Thank you Thomas-s the third chart looks accurate. Barabbas, please use that website! And please be nicer I am trying to be as polite as possible!

I am in fact being quite nice and polite. Perhaps you misunderstood me? I find you coming forward this way, and have stated so before, transparent and quite legit. Not being able to discern the contents of a Wallet is what looks very confusing at best, which is not your fault, of course.

We should all try to be polite and nicer. ALL. Which is not to avoid transparency. That is, really, NOT nice. And once again, I praise and thank you but being the first and so far the only one opened to scrutiny.

[chango]

Im not trying to discredit anyone, but you are taking donations and spending them before you reached your target goal? you are contradicting yourself here. You say that you HAVE to cash out to use the donations, so you confirm that youre already using donations and you confirmed that you have not reached your goal as well...
So what happens if you do not hit your goal? will you fund the rest yourself? will you repay the donations? If you expect to do that then please tell me how. If the market crashes then YOU are responsible to make up that difference back to the donator if said project doesnt get off the ground. Using your same logic, you would have to pay them back the FIAT amount. So If I donated 1 BTC but called it 440$ and then you spend that 440$ on models or water or t shirts, but never get the rest of your funding to continue. Then say people want a refund because you didnt deliver. How are you going to cover the rest? You doom a project from the start if you begin to spend project funds before the goal for the target has been met. Do you see where Im going with this? You expect us to take your financial advice, and try to discredit the PR thing, but you are making one of the biggest rookie mistakes by spending your funds before you have amassed them all.

Swapping the donated alt-coins to FIAT is not using them.
It makes absolute sense to cash them out at the donated times face value - as that was the intention of the donation.

Had i sent 5k BC when price was 50K, and he not chased them until price was 25K i would be pissed my effective donation I feel I made was cut into 50% for no reason. Same with BTC.
Holding onto any Alt coins that are donated is too dangerous when your working towards a monetary target.

We could have $11900 raised in BTC on the 15th, price tanks and then project is messed up as the value is now $5000

It makes absolute sense of any project needing FIAT to swap the donation ASAP.
I don't want the guy doing the PR (or team) to speculate with the funds.

Well it doesn't make sense really, it is quite risky if the price goes up and the goal is not met or the project is cancelled, then Iconic would have to buy the coins to send the refund.

But probably the goal will be met so I guess there is no problem cashing out early.

Cheers!