ICO Ended- Did not meet MIN BTC for ICO terms Refunds will happen as soon as Bittrex Audits their system!!Important Announcement!!Message from Bittrex:
Bittrex will be hosting the EnvyCoin ICO. As a reminder, we are providing escrow for the development team. We are not endorsing this coin or any others on our exchange. Please do your own research before trading. Below are the FULL and DEFINITIVE terms for this ICO; no other conditions are required.
* We will review the wallet before initially adding it.
* We will hold all Premine Coins - 50M. All unsold coins will be destroyed at the end of the ICO.
* The ICO will run for 7 days starting September 28, 2014
* In addition to ICO terms, if at least 5M ENVY is not sold, success criteria will not be met.
* If success conditions are NOT met, all BTC invested will be refunded through a buy wall.
* Once the ICO is over we will verify there is working wallet, blockchain, and block explorer.
* We will hold the funds in escrow for 3 days - at which time, we will release the funds.
*No trading of the coin will be allowed until the ICO ends and escrow is released.
*ALL SALES ARE FINAL AND THERE WILL BE NO REFUNDS - by participating in this ICO, you are agreeing to the above terms.
https://bittrex.com/Market/Index?MarketName=BTC-ENVY
-----We are proud to announce Envy Coin-----
-----50M ICO coins @ Bittrex-----
-----Mining Share Profit Program-----
-----Business Plan-----
**Bittrex will escrow the ICO funds**
Sunday October 5th around 5 pm.
^ Mining Launch ^
Envy Coin [ENVY]
POW X11 Algorithm
-Max Coin Supply = ICO coins sold + PoW coins
-50- million ICO Coins Available
-0- Premine
Asset backed by Cloud Mining
60 Second Block times
10 Coins per block
DigiShield
*Total ICO coins sold = Total PoW coins
**Total coins = ICO coins + PoW coins
Envy coin is an asset backed Crypto currency focusing on stability and usability. We plan to provide stability by having Envy backed by cloud mining. This will provide daily revenue for the coin. The cloud miners will be purchased with funds raised by an initial coin offering (ICO). The profit from the cloud mining will be split as follows: 10% will be reinvested in buying more cloud miners which will allow us to stay ahead of the difficulty curve. 5% will be dispersed to the development team. This will allow us to continue developing the coin and allowing them to have funds to pay to be listed on certain sites such as exchanges or merchant services. The remaining 85% will be returned to Envy coin holders who have signed up for profit share program. The holders will receive their respective percentage of the profit pool. It will based on your percentage of coins that have signed up. For example, if you have 1 million coins and there are 10 million coins enrolled you will receive 10% of the payout. Our calculation shows that you will earn your initial ICO purchase back within approximately 155 days. (Current BTC price and min ICO sold)
• Bittrex will escrow ICO funds
• All ICO coins not sold will be sent to Bittrex and burnt
• The ICO will be 7 days long
• Price will be 2000 Satoshi per coin
• Market cap of ICO is $400,000
• 50 million Envy will be sold in ICO
• Min amount sold 5 million Envy
• Transfers will happen once ICO has ended and Bittrex is satisfied that terms have been met
The ICO process- Sunday September 28th at 10pm GMT Envy will be listed on Bittrex. It will be listed at 2000 Sat until sold out or for 7 days, whichever comes first. Once complete Bittrex will determine if we have met the terms of the ICO. Once the terms have been met they will release the funds. Once we have the funds we will be purchasing various cloud miners to maximize profit while still keeping our exposure to one company limited.
The reason for this price is because we wanted the price to be low enough most people can buy whole coins. With this price it sets us at a low enough market cap for what is provided it should have low downside risk. We went for a price that would give a ROI just for holding the coin and not considering the fact that we will aggressively working on getting Envy added to merchant service sites. As of the current condition as I write this our current projections show anyone who buys during the ICO will have ROI in approximately 155 days. (Current BTC price and min ICO sold)
V Mining Profit Share Program | Google Document V
^Document Links^
^Full Size Image Links^
To sign up for the mining profit share all you will need to do is have an Envy address where you will hold your coins (wallet or exchange). The amount held will determine your percentage of the profit share. It is based on your percentage of total coins enrolled. You will need a BTC address. This is where the payments will be sent once a week (Goal is once a day). The last thing we need is your email so we can contact you if any problems or questions arise.
V Main Website V
^Link^
V Github | Windows | Mac | Linux V
*Wallets available after ICO ends*
^Links^
V Business Plan V
^Link^
Development Team & Administration (Organization Plan)
Project Manager- Tom14cat14
Lead Developer- Earlz
Lead Designer- Testing Crypto
Lead Marketer- Sub Contracted
V Block Explorer V
^Block Explorer Link^
*Mining will start after ICO ends*
V Suprnova | X11-X13 Pool | Miner Pools V
V Goldmin.es | BlueBerry-Pool | HashGoal V
V Xhash V
^Pool Links^
V Cryptonator | CoinMarketCap | CryptoCoinRank | WorldCoinIndex V
^Market Capitalization Links^
V Bittrex V
^Exchange Link^
V Facebook | Twitter | Reddit V
V Pinterest | Tumblr | Kiwi IRC V
V CryptoCoinTalk | LiteCoinTalk V
^Social Links^
V Chinese || Spanish || Dutch V
V Indonesian || French || Portuguese V^Translation Links^
V Bounties V
^PM Link^
**Basically what we'll do is make it so that the total coin supply is double that of the amount of ICO coins that sell. So, right now it's 50 million ICO coins, and then 50 million coins will be minted by normal mining over 10 years. If we don't make the goal and only sell, say, 10 million coins, then only 10 million coins will be minted with normal mining over 10 years.
No matter how many coins end up being sold, if you buy 1% of the ICO coins sold, you will own 0.5% of the currency.
### Why not just buy hashlets?
This is the most common question I've heard. Envycoin comes with a number of features that command a premium.
1. You can't buy a pizza with hashlets. Hashlets are not divisible
2. Hashlets are not easily sold or exchanged. This is especially true with their new Hashpoints system
3. Hashlets come in many varieties. Giving someone a Hashlet Prime is different from a Hashlet Zen.
4. Automatic reinvestment. To ensure overtime you ideally make more money than you are now.
5. Bitcoin features. Including stealth transactions, multisig, etc
Although Envycoin can function as a proxy to Hashlets, this is not it's only goal. It's primary goal is a stable and non-volatile currency. Ideally, the mining inflation rate will equal the tendency to hold the coin for profit share revenue, yielding a fairly stable economic outlook.
### How do I know this isn't a scam?
Well, if this is a scam, it's a pretty shitty one. First off, Me and Tom, the Envycoin Team NEVER has access to the ICO funds. The only funds we have access to out of that is 5 BTC to repay Tom for the non-refundable ICO deposit.
Second, our idenities are not a secret by any means. If we run off, we know there will be repurcussions.
### Why 1000 BTC? Why not something smaller?
The more initial investment we have into the cloud mining platform, the more profit and faster ROI for everyone. With larger volumes, we get larger discounts.
### No way you'll get ROI in roughly 70 days
This might be true. We took difficulty increases and everything into account when calculating this number, but it's always subject to change.
### Why isn't the wallet out yet?
We have decided to keep mining closed up until after the ICO. We have a functioning network, but it is kept in secret right now. I have code reviewed many coins and am a very well qualified coin developer. We will strive to give at least 24 hours notice before mining will begin
### GAW is just a bunch of scammers
Tom has vetted GAW and we think they are legitimate. We see no reason to not trust them.
However, we are not focused only on GAW. Our initial investment will most likely be with them, but with the reinvestment fund, we are going to be trying to invest in other cloud mining firms. This is to minimize the risk of trusting a single entity with this amount of money.
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