- The escrow must be released within the first month of release. After the escrow has been released the participants will get access to their funds.
Participants not getting access to funds until after escrow is released somewhat defeats the point of escrow!
Also, please make it clear (qora & any escrow provider) what the participants' cancellation terms are, should they choose not to go ahead (assuming it is not a blatant scam). E.g. can they simply say "I'm no longer interested" and get their funds back, and if so until what time?
The purpose of the escrow is to make sure there is a valid and working client.
If I would not release the funds after he has released the escrow it would destroy this project.
The same goes for him. If he doesn't release the escrow it would destroy the project and I can not give him that much power.
People can always ask for refunds.
And after the launch they can exchange their funds back for their investment.
While I agree people shouldn't just trust me blindly; I am a lot more trustworthy than you are at this point in time.
I have been a part of and actually contributed to the cryptocurrency community. I received part of the developer bounty funds for my work on the BoottleXCP Counterparty GUI. I have worked closely with JahPowerBit one of the major contributors to the Counterparty Counterwallet system on that.
I have a history here and all though I may be kind of a dick some times; People can go back and check my posts from months ago to see the kind of person that I am. I believe people will see that I am honest and fair.
You, not so much history.
Me handing over funds to you first = Protecting the developer
Me holding funds until you've handed over wallet/coins to investors = Protecting the investorsAs previously mentioned, I would be protecting investor interests in all cases.
regarding restarting the IPO... it "wouldn't be fair" to the whole 6 people that have invested 1 BTC so far?
You do know that until eXoCoin accepted escrow it got maybe a couple BTC and after allowing escrow it got over 200 BTC in total?
If this project really is what you claim it to be, you are selling yourself short.
The only reason I can think of to intentionally do that is poor business sense or malicious intentions.