Hello, 13 trillion coins pre mined in a couple weeks, it takes 200 years to mine another 2 trillion
Valuation right now is 1 Trillion dollars (more than any norwegian company) i See prices are 0.12 dollars per city coin, they are already selling this currency valued at 1 trillion dollars, that is 20 Times more than Bitcoin value.
https://www.liberstad.com/buy-citycoins-with-crypto.htmlBased on that we can safely say that this is a scam.
You also abused NRK in norway to advertise this coin, this is not allowed when used for scams, you are giving crypto and real stock a bad name by abusing its features and actually trying to earn free money out of thin air. Some pre mined coins that you did in a month and then sells it valued 1 trillion dollars and keeps 90% of all the coins, as your own coins or lets say held by first investors and yourself.
Someone will soon enough inform NRK about your missuse and crypto police would definetely arrest you for stealing people's money.
The valuation should be based on the circulating supply, and all the details on what is circulating will be published and communicated in an open manner.
The premine was 13,736,000,000, or 13.735 billions. It was not 13 trillions, as you commented.
City Chain Foundation, Private City Fund and the Incubator Fund will seed 1 year of what was donated to it every year for the next 200 years, and this will happen through a smart contract when the smart contract functionality is launched on the City Chain blockchain.
As an example, the City Chain Foundation which will continue the development of City Chain and the Smart City Platform, received a total of 2,747,200,000 (20%) of the premine, of which 13,736,000 (13.736 million CITY) will be made available into the circulating supply every year.
Either a dedicated section on the existing website, or another website, will contain all the economic data and information that is available on this, but not available at this moment. Donations are public information, and what the foundations are spending money on will largely be public information.
We're sorry you think this project is a scam. We have worked hard on this since August 2017, and we will continue to work hard on this project. It has been thus far been funded with own funding, resources and time, no ICO was made.
What NRK and other news outlets decide to cover and report on, is not something that we can control in any way or form. There exists no "crypto police", and we are not stealing anyone's money.
To close off the comment, approx 68,680,000 CITY will be added to the circulating supply each year, in addition to the Proof-of-Stake rewards to stakers. As CITY has only been released for 3 months, that means approx 22,894,000, which should give an approx evaluation of $2,747,280
So the current market cap of CITY, is less than 3 million dollars, which places it around #520 on Coinmarketcap.
