I see that your are on every IPO raising good concerns, shot answer is no.
Long answer: I want to reward those who believed in the project from the very start. There would be no point in me looking over my shoulder because I run away with 100BTC. Im here for the long term growth as stated on a few occasions before this launch and making it clear that I believe I crypto.
I respect you're efforts in protecting the community as I try to protect it myself but please find out about the person you are accusing first. I've been here for over a year which granted is not that long in the scheme of things but I think that I have built enought trust to finally do this.
If the majority of people think this a bad idea, I will remove it. (adding a poll now)
Edit: I'm the founder of CoinAlliance and our transparency will be proven soon when the transactions report is published.
I wasn't aware that I was accusing you of anything, yet
Heres some potential issues I see with your prospectus.
1. The ReinvestmentsSCRYPT-X: Is a potential investment to which we believe 40% of the long term funds should be allocated to. Scrypt-X is a mining
project created by CRYPTX . CRYPTX has a history of creating profitable mining projects and has a proven background in this category.
At this current moment the project pays out 0.00057296BTC per dividend. This means that it would take 66 weeks to reach ROI.
66 weeks, (or 1.265 years) is a horrible ROI.
In the cryptocurrency market this is x10. So if that is the most you can expect from that investment you should look elsewhere.
and more importantly:The Plan: Investors will have 49% of the voting power on where the funds are invested. Each investor will receive a percentage of this voting power depending on their initial investment. The rest of the voting will belong to the coin team.
Retaining 51% voting power means you will have majority decision on all votes. It doesn't really matter what the community decides or votes on, as you will still get to decide the outcome. If you want to do this grass-roots, for-us-by-us type of deal, you are going to need to relinquish control. You can't have it both ways. Either you are the leader and you make the decisions (but you will listen to feedback from the community), or it is a democratic and egalitarian system where a consensus is reached via voting. With that being said it's obviously still a good idea to give yourself an increased voting edge (10 or 15% seems fair, as obviously the team is more invested in the project than any one community member). This way your votes still have increased weight (due to your insight and informed position) but you can be outvoted by the community if they present an opposing plan that they feel is more beneficial.
Also thirdly and less importantly:
I don't believe investing in a scrypt miner is a good idea. At this point you've already missed the first wave, if you ordered now you would get into the second or third wave of shipments. By that time the hashing power on any "scrypt" coin will be so high it would be pointless to compete. As you already specified, it could take as long as 50 weeks to get a ROI. We saw this with the SHA256 ASICs. Everyone who got into the first wave of ASICs made a killing. Those that had shipments that were delayed or received their ASICs in the second or third wave are still hashing away trying to make their money back.
Most of the mining is now moving to X11 or Keccak/Groestl. Over the next year will have a ramp up in centralization of scrypt mining power just as we have seen with bitcoin.
What would make more sense is to just take those BTC and invest them into 10 different cryptocurrencies or cryptocurrency related businesses.
If you invest 1 BTC into 10 different currencies and after 6 months, even if 5 of them drop by 75%, 2 become worthless, 2 triple in value and one goes 10x; thats still 18.5 BTC ( .25 + .25 + .25 + .25 + .25 + 0 + 0 + 3 + 3 + 10 = 18.5 BTC ), or a 85% ROI in 6 months.
In the regular world a stock that can get you that kind of return would be amazing.
Poll
