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Tuesday, 17 April 2018

Some Questions and Answers!


Some questions that have come to me through mail and which I have answered through mail. I am posting here for the benefit of everyone. These questions are in the mind of many investors I am sure..

Question: Is this the final version of the coin? or are you planning to release a new one?

Answer: What we have now as SWTC is a token and not a coin. But since WAVES Client allows trading of tokens we are able to trade SWTC tokens now. Tokens are like advance booking tickets. For 1 ticket one coin. So people who have bought the SWTC on the waves platform have actually booked 1 coin with 1 SWTC token. 
Once we develop our own wallet like the Bitcoin Wallet with its own blockchain based on the CryptoNote algorithm we will have a coin that can be stored in that wallet and can be mined with our Pocket Miner. Then we will tell everyone to send back the SWTC to us and we will issue the actual coin to the investors on a 1:1 basis.

Question: How many new coins will be released?

Answer: Since we have sold only 150 million SWTC tokens now along with 1 million newly announced bounties the total number of new coins will be 151 million at the time of launch on 15 June 2018.

Question: Am I the shareholder of this system? Am I among those people who will receive a reward of 40% (for all shareholders)? This profit will be accrued in the form of coins SWTC ? or in other ways?

Answer: Yes. All investors are like a share holders. Every one will receive their part of the share of profits generated every three months through quarterly airdrops, based on the amount of SWTC they hold. It will be in the form of SWTC coins. But these coins will be bought from the market with the USD profits we generate from our operations. So the price of the coin will keep going up.

More Questions and Answers to follow...

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