I like your concept BUT i dont like the fact that you value it, at this early stage @ 40k BTC (5000 per BTC and 100M coins) or 25 million dollars.
100M / 5000 = 20k BTC. Still quite a lot, but a lot less than $25mm.
It will place you in the top 7 projects value wise with more value than your native host counterparty. does this make sense to you? To me this isnt realistic with a pre-sale for a project that doesnt really exist yet but in theory
Here's what the
Bitangels due diligence report says:
It is worth noting that the SWARM team does not expect to collect the maximum number of bitcoins by selling out all of their tokens (though it is possible if demand has been underestimated). Instead, the project has set a range of price points and is leaving it up to the market to decide the proper price of SWARM Coins.
This is basically correct. We don't anticipate raising the full second round unless there are exceptional circumstances.
That said, I think a project like ours should be valued not in the sense of the market cap of a project, but also the potential net effect that it will have on the Bitcoin price in general.
For example, we've already had press coverage in a number of
publications that don't usually cover Bitcoin and expect a lot more in the near future.
Of course, large press exposure for us will lead to a substantial increase in Bitcoin price, so I feel justified in saying it's worth putting ~1% of one's overall Bitcoin holdings into SWARM for that reason alone.
Although I mostly kidding in a previous comment, this ideally includes engagement with the non-male part of the world demographic, something we've been having quite a bit of success with as well (many participants in our sale have been first time Bitcoiners and non-men).
So even if you see Swarm as nothing more than good marketing for Bitcoin, I think it will be money well spent by the community. More money equals more press and is ultimately better for Bitcoin as a whole.
