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Sunday, 6 May 2018

Response on Bitcointalk


Thanks for your detailed analysis and critical suggestions about the ICO, in various stages and the idea of using pocket miners to mine our coins and sending mined coins to an address specified by us for making payments. 

Also the cold wallet along with our own blockchain and coin are scheduled for release on June 15th. There is no change with that.

Even if we do the 1:1 swap and then go for the ICO during the ICO period, deposits and withdrawals will normally be disabled by exchanges during the ICO period mainly to disallow pre-sale members to take part in the ICO as sellers.

I agree with the suggestion that if we do at least one part of the ICO after the launch of the Pocket Miners it will give us very favorable results.

Obviously nothing has been decided yet. We are all thinking out loud and exchanging our ideas. And i feel this is the right way to go forward.

You have also suggested we should use professional services for handling the media, launch, development, for attracting more investors etc., Just check this professional service in the link below for helping with developing and launching a new coin based on any platform. The price for developing and launching a Cryptonote based currency like ours ranges from a minimum of 4 BTC for the basic services to 12 BTC for the premium service. Check this link below and press the Cyptonote/Monero option and see the prices.

https://www.blockchainappfactory.com/cryptocurrency-wallet-development#pricing-tabs

Just by checking the prices above we know that a project of this magnitude can not be done with the amount of money we have collected with our pre-sale. You have mentioned about partnerships with manufacturers of devices for pocket miner. A good OEM supplier expects a minimum order of 3000 pieces of an android device with a good configuration at a price range of USD 100 per piece. You can do the calculations to understand what will be the cost of launching the Pocket Miner!

All of us know how much money we have collected for this project from the investors. A total of USD 11600. I have not touched this amount till now. I have been doing all the development activity only with my own investment, including the procurement of sample pieces of the Android Devices for the pre-testing of suitable configurations of our Pocket Miners. just as an example as far as our Pocket Miners are concerned, I have already registered the following domain names, pocketminer.network, pocketminer.org, pocketminer.online, pocketminer.store (a good domain for online sales), pocketminer.co & pocketminer.net already. pocketminer.com has been registered by someone else already and is parked free with godaddy now. So i have initiated a mediated purchase of that domain as of now.

This entire amount of USD 11600 which is 100% unused till now and can be returned to the investors anytime if we are not able to successfully take the project forward (which will never happen) or if investors want to pull out of the project. 

And with the waves platform it is very simple to do it. I just have to create a buy order for approximately 130 million SWTC for a price of 11600 dollars and those who wish to exit can just sell their holdings and get back their money. If this is what people want they can inform me anytime through this forum and I will do it without fail. That is my commitment. I will never go back on my word.

I am someone who will not take up a project if I don't believe strongly that I can execute it successfully. And I am someone who believes strongly in Synergy, where 1+1 is not 2 but is 11. The collective strength of all of us is more than the sum of the individual strength that we all have! 

There are so many investors particularly the smaller ones for whom even the 1 USD investment is very big, and several others who have been affected by past bad experiences with other coins, who believe strongly in this project and there is no way I will give up on this project. My entire commitment and focus is on taking this project to a successful stage without giving up.

And knowing well that there is an opportunity to achieve three things with the Yobit ICO which are, a) get a better price for our coin much sooner than scheduled, b) to generate additional funds required for this project and c) getting exposed to a huge investor base at this early stage of our project, just by trying out the option of ICO on Yobit which involves the smallest risk, i believe we should be taking this small risk! Even stepping out of the house to buy something in the neighboring shop is a risk that way!

As mentioned earlier we have not decided anything yet. Looking forward to more responses and feedback from everyone!

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