Hey guys,
I've been contacted to help with the escrow for this. It will be very simple to understand and to get involved. I am to keep a public list or spreadsheet of all investors, their forum nicks (you may remain anonymous), and the amount of BTC they have invested, and their Surgecoin address.
To keep it simple and transparent, I will use the tried and tested method of accountability which is just one investor BTC address which I control, and a link to that address in the blockchain. Everyone can see all incoming transactions.
For the sake of security of everyone's coins, refunds will only be processed AFTER the coin has failed launched, at the same time. This will be a "cold" wallet address, that's why.
No refunds will be issued for investors who change their mind. If you are not sure, do not send. If you send, you are committed and you will receive the proportional amount of Surgecoins as indicated by the developers and website.
If the coin fails to launch in a satisfactory manner all BTC will be refunded back to their original addresses, less any bitcoin transaction fees. (Usually 0.0001 per 1000 bytes.)
This is my escrow thread if you want to do some research.
https://bitcointalk.org/index.php?topic=234939For investors sake, please use a wallet where you control the private keys and can sign a bitcoin message. Search the forums on how to do this. Do not send BTC directly from an exchange or a web wallet. In clearer terms, DO NOT SEND from btc-e, cryptsy, mtgox, coinbase. Use a wallet that is under your direct control such as bitcoin-qt, electrum, blockchain, armory, or bitcoin for android.
In case of disputes, I will honor whoever sends a signed message using the bitcoin address that sent the coins. Bitcoin-Qt can do this.
As I understand it, you can wait for the wallet to be launched to get your Surgecoin address from there, or you will be contacted by the Surgecoin devs to arrange for your wallet.
Any refund, will be sent to the address that originally sent it (or one of the addresses if there is more than one) as reported by blockchain.info UNLESS you can sign a message using that address to send it to another address.
I will charge a flat 1% fee, regardless of the amount of BTC collected by this IPO, deducted at the time I send the funds to the dev.
I will send the BTC to the Surgecoin devs only after the coin has launched, the wallet is working, the investors have received their Surgecoins, and the miners and Surgecoin network has reached at least 48 hours or 2880 blocks. I think this is fair, if the coin is 2 days old and everyone got their Surgecoins, then I can release the IPCO BTC funds to the devs.
For investors, what you could possibly lose is the time any coins you send until launch. This means your BTC are stuck until at least 2014-05-07.
For the Surgecoin team / developers, you don't get anything until after 2014-05-07 (48 hours or 2880 blocks where each block is 60 seconds.)
I will post a GPG signed message containing the bitcoin address for IPO. Investors may choose to remain anonymous (identified only by their BTC or SRG address), just send the BTC to the address indicated, and send me a PM with transaction details, preferably with a signed bitcoin message.
If you do not know how to sign a bitcoin message, please take the time to learn it.
I am not responsible for any coins sent directly to the Surgecoin team or to anyone else.
Thank you and have a nice day!
Dabs
