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[yxxyun]

one day 200btc is not a good news for investor.

[Wulfcastle]

If you need 500 why not set limit as 500?

This was what I was thinking also, when I say at max 750 BTC. If you budgeted originally for 500 BTC, then set a cap of 500 BTC. I'm guessing this will be used to essentially bootstrap Crypti.

If Crypti becomes a success, which I'm sure it will, the 15-25% of the supply you've set aside for dev funds, would be worth a whole lot more than 500 BTC, those funds could be used for the long term growth of Crypti.

My bad misread first post. I'd be fine with anywhere up to 750 BTC as a cap.

[seleme]

How are we OK with up to 25% of "premine" on this?

[Wulfcastle]

How are we OK with up to 25% of "premine" on this?

If you read my post, then sorry my bad, I misread the OP

Details about the percentage distribution can be found here :

Development Funds / Initial Distribution

The Crypti team 0-10% sliding scale will be adjusted based on the amount of BTC raised in the pre-sale, lowering by 1% for every 50 BTC raised in the pre-sale, e.g.:

0 BTC = 10%
50 BTC = 9%
100 BTC = 8%
150 BTC = 7%
200 BTC = 6%
250 BTC = 5%
300 BTC = 4%
350 BTC = 3%
400 BTC = 2%
450 BTC = 1%
500 BTC = 0%

Any percentage not allocated to the Crypti team will be distributed among the genesis block buyers.

[ARGpentem]

How are we OK with up to 25% of "premine" on this?

When do Bitcoin-er learn that POS coin does not have "premine". Every POS look more like a start-up or a DAO than a currency.

[GreXX]

If you need 500 why not set limit as 500?

This was what I was thinking also, when I say at max 750 BTC. If you budgeted originally for 500 BTC, then set a cap of 500 BTC. I'm guessing this will be used to essentially bootstrap Crypti.

If Crypti becomes a success, which I'm sure it will, the 15-25% of the supply you've set aside for dev funds, would be worth a whole lot more than 500 BTC, those funds could be used for the long term growth of Crypti.

Some of these comments about the 15%-25% dev fund are misleading. Let me clarify this again as I don't think it is being understood the way it was intended.

The 10% of the 15%-25% that decreases as we raise more in the pre-sale is for the dev fund. That is why this number decreases as we make more BTC. If we have more BTC, we don't also need the 10% Crypti.

The 15% is to pay the development team that created Crypti for work already accomplished to get to this point. That includes 9 team members with a set percentage of that amount already being agreed to by each member prior to starting any work as the terms of their employment. That 15% will be managed in a vested strategy which will essentially unlock a portion every 3 months over the next 12 months when all funds will have been awarded. This is to encourage the development team to continue their work and to ensure they continue to increase the valuation of Crypti for investors because if they don't, then when their stakes unlock they will be worthless. It is also to ensure no development team members simply "dump" their Crypti and run off. This money however cannot be allocated to future development initiatives as it has already been designated as payment to the 9 members of the team who have been working for months to get Crypti to launch. It is simply being locked aside by the Foundation and Community to be released on a vested schedule.

So in essence, the 10% and the BTC earned are the development fund for bounties, new initiatives, to hire new developers, market, etc. If the BTC investments reach 500 BTC, the 10% will be re-allocated to the investors (increasing their total allocated funds to 85,000,000) and the development fund will consist of the final tally of invested BTC in the pre-sale (at this point at least 500 BTC).

So in essence, when we talk about the development fund, if we are setting a cap of 750 or 1000 BTC, that is already past the 500 BTC re-allocation phase, so the development fund would be whatever the cap is set to, if we were to earn that much.

Does that all make sense? (My daughter came in to ask me to fill her cup so I feel like I got distracted half way through).

[Wulfcastle]

If you need 500 why not set limit as 500?

This was what I was thinking also, when I say at max 750 BTC. If you budgeted originally for 500 BTC, then set a cap of 500 BTC. I'm guessing this will be used to essentially bootstrap Crypti.

If Crypti becomes a success, which I'm sure it will, the 15-25% of the supply you've set aside for dev funds, would be worth a whole lot more than 500 BTC, those funds could be used for the long term growth of Crypti.

Some of these comments about the 15%-25% dev fund are misleading. Let me clarify this again as I don't think it is being understood the way it was intended.

The 10% of the 15%-25% that decreases as we raise more in the pre-sale is for the dev fund. That is why this number decreases as we make more BTC. If we have more BTC, we don't also need the 10% Crypti.

The 15% is to pay the development team that created Crypti for work already accomplished to get to this point. That includes 9 team members with a set percentage of that amount already being agreed to by each member prior to starting any work as the terms of their employment. That 15% will be managed in a vested strategy which will essentially unlock a portion every 3 months over the next 12 months when all funds will have been awarded. This is to encourage the development team to continue their work and to ensure they continue to increase the valuation of Crypti for investors because if they don't, then when their stakes unlock they will be worthless. It is also to ensure no development team members simply "dump" their Crypti and run off. This money however cannot be allocated to future development initiatives as it has already been designated as payment to the 9 members of the team who have been working for months to get Crypti to launch. It is simply being locked aside by the Foundation and Community to be released on a vested schedule.

So in essence, the 10% and the BTC earned are the development fund for bounties, new initiatives, to hire new developers, market, etc. If the BTC investments reach 500 BTC, the 10% will be re-allocated to the investors (increasing their total allocated funds to 85,000,000) and the development fund will consist of the final tally of invested BTC in the pre-sale (at this point at least 500 BTC).

So in essence, when we talk about the development fund, if we are setting a cap of 750 or 1000 BTC, that is already past the 500 BTC re-allocation phase, so the development fund would be whatever the cap is set to, if we were to earn that much.

Does that all make sense? (My daughter came in to ask me to fill her cup so I feel like I got distracted half way through).

Yeah I realized that, I misread the OP the first time around so no worries there. Also I saw you posted about an official blog earlier and you were discussing which CMS to use. Choose either Ghost or Tumblr, Blogger isn't that grand and not that many use it. Ghost is pretty new but also a bit generic. Tumblr is already used by Crypty and Dogecoin for their blogs so I'd recommend them the most.

[signingoff]

Just as a topic of discussion in regards to the cap talk.

Would 2000 BTC be too much for most investors as a cap?

Are most of you thinking 1000 BTC?

Just wondering what everyone thinks a good cap is as we are having the same internal debate.

If the cap is 2000btc or less, I will invest some btc(less than 0.5btc).

[xtester]

Just wondering what everyone thinks a good cap is as we are having the same internal debate.

...you will regret going down this road...

I know it's a can of worms but we really do intend for this to be an open, community driven initiative and development process post launch, so I really do want to know what everyone thinks.

I think I speak for a lot of investors here when I say I appreciate the effort.

[PilotofBTC]

one day 200btc is not a good news for investor.

Well, if you are in the BTER Escrow you have 20 days to decide if it goes to high and get out with zero loss.

[Grumand]

Why not page "Peers"?
How to understand that the system operates in the network?

[tobeaj2mer01]

I keep watching the IPO volume in bter and found the total volume is decreasing, the volume is 176.3 now but two hours ago it's 183 and it's 192 four hours ago,  I can't find any sell out information in trade history, can you explain this ?

Now:
176.3
Volume(BTC)

[Wulfcastle]

I keep watching the IPO volume in bter and found the total volume is decreasing, the volume is 176.3 now but two hours ago it's 183 and it's 192 four hours ago,  I can't find any sell out information in trade history, can you explain this ?

Now:
176.3
Volume(BTC)

That just shows the daily volume invested (24-hour period), it doesn't reflect the total amount invested.

[PilotofBTC]

I keep watching the IPO volume in bter and found the total volume is decreasing, the volume is 176.3 now but two hours ago it's 183 and it's 192 four hours ago,  I can't find any sell out information in trade history, can you explain this ?

Now:
176.3
Volume(BTC)

Just a guess. They are doing taint analysis and found multiple accounts from the same IP. Since there is a per-investor cap that is a no no.

[Wulfcastle]

I keep watching the IPO volume in bter and found the total volume is decreasing, the volume is 176.3 now but two hours ago it's 183 and it's 192 four hours ago,  I can't find any sell out information in trade history, can you explain this ?

Now:
176.3
Volume(BTC)

Just a guess. They are doing taint analysis and found multiple accounts from the same IP. Since there is a per-investor cap that is a no no.

Nope it's just showing the daily investment volume.

[GreXX]

I keep watching the IPO volume in bter and found the total volume is decreasing, the volume is 176.3 now but two hours ago it's 183 and it's 192 four hours ago,  I can't find any sell out information in trade history, can you explain this ?

Now:
176.3
Volume(BTC)

As mentioned, I think it is on a 24-hour average volume. If you take the amount left (4796) and subtract from 5000, it looks like the number is currently roughly 204 BTC.

[cryptozim]

In this thread:
1) People investing in Crypti then telling everyone else not to invest because it will eat into their profits.
2) Devs making decisions, then going back on those decisions because 2 people don't like it. Then, spending 3 pages trying to figure out what they should do.

Seriously, devs, the best way to gain the community's confidence is to make decisions and stick to them. If you want to involve the community, do it before an announcement, make a decision based off of the feedback, then stick to that decision. There have been several cases already where you bow to community pressure after it's too late (such as changing the pre-sale terms after the pre-sale has started)

Disclaimer: I've invested a small amount into Crypti already on Bter.

[Kuttingcorners]

a 3% premine is way worse than 15% of ipo when only 5% of the coins have been mined yet . that being said it would still be much better if you guys put your 15% in escrow. And whats up with the other 10%?

[dzarmush]

In this thread:
1) People investing in Crypti then telling everyone else not to invest because it will eat into their profits.
2) Devs making decisions, then going back on those decisions because 2 people don't like it. Then, spending 3 pages trying to figure out what they should do.

Seriously, devs, the best way to gain the community's confidence is to make decisions and stick to them. If you want to involve the community, do it before an announcement, make a decision based off of the feedback, then stick to that decision. There have been several cases already where you bow to community pressure after it's too late (such as changing the pre-sale terms after the pre-sale has started)

Disclaimer: I've invested a small amount into Crypti already on Bter.

Stick to decisions is the best way to destory and lose the community. Take a look at Node (Nxtl), devs are tearing the community apart by making unpopular decisions. Most people already lost interest in it.

[Ingatqhvq]

The DEV is too greedy.
25% were kept by themselves, it's sick.
If they want to get their own share, why don't invest some btc to the ipo.
We all know NXT and qora's dev don't keep any coins freely.