Thanks for your response.
I agree. An asset on CP really is only as valuable as it’s use. We are discussing different applications and projects so we know that depending on what people’s opinions of those and how well they are executed will determine the value.
But from what we have seen from most CP assets it appears that the platform is great for creating assets that retain value. Swarm, Storj, XCP and GEMZ all have decent value.
Since I am not a developer and do not want to rely on trusting a dev to run a separate blockchain this is perfect for me. The members on BTCtalk were talking about donating BTC to a dev to revive the blockchain and keep the original coin moving. I just see that as risky and as a quick fix to maybe transfer the bag holding to other people. I don’t agree with that nor like that idea. I have no interest in someone taking the bag on the risk I originally took. So here I am. I like that I don’t have to have the developer skills to create the asset. It is cheap to create, easy to distribute and as long as we come up with a decent use, it may even turn into something valuable.
Now there will still be some risk as far as development. I have to choose the right people to implement the projects I have in mind but I have a plan for that to be revealed closer to launch time. For now this is all exploratory conversation in case people have ideas and criticisms that I have not considered.
You know, I thought about creating a wallet and using a random old address as the burn address. The thing is, then I’d have to prove beyond a shadow of a doubt that I actually destroyed/deleted the private keys to that old blockchain burn address. If I do not and another dev comes along to revive that blockchain I will be dealing with FUD for eternity. People may suspect that I have secretly kept the private keys, duped people into sending me all of their coins, then somehow got the original blockchain back into action so I can mega dump for zillions in profit.
Haha. The chances of that are slim. I don’t see anybody ever taking over that old coin or blockchain. But I cannot risk that. It has to be a true burn. The good thing is one of the guys at vennd.io
said it is possilbe and they were just waiting for someone to come along wanting to do that. So, maybe I’ll luck out and get to be a first!
The other part is deciding how to issue to the burners? I mean we could do a straight up 1:1 trade from old blockchain to new asset. But I also had the thought of charging them a fee in BTC to trade out in order to pay vennd.io
for doing the burn. In that case they may feel that by paying BTC they deserve more than a 1:1. Maybe a 1:1.5 or 1:2 trade would be the right answer. I doubt everyone on the old coin will even participate in jumping to the asset but I think participation should also help determine what the trade is. If a very low number of people participate it may even allow as high as 1:3 per coin. But I do thing it has to be reasonably low because if we hold a crowd sale to allow others to purchase the asset they won’t want the risk of a huge amount of holders waiting to dump. So I think whatever the original burners get, that crowd sale buyers must get close to the same amount to negate the risk of one group having more than another.
I know there’s probably a way to do this without vennd or any other party helping burn but I think from a professional and fair standpoint that having the other party involved helps stop speculations that this is a scam. It will give it some validation by having involvement from others in the CP community kind of overseeing what we are doing. I also think that if when it comes to a crowd sale that it’s good to have vennd, koinify or swarm. It would help validate that this is a legit crowd sale. Not to mention, having them involved would probably help get eyeballs on the project. Any of those three companies garner newsworthy attention and if my ideas are good enough that they would help us then I think it does nothing but help in these areas.
When it comes to getting a dev that is familiar with integrating Counterwallet into a website we will post here and use funds from the crowd sale to hire a dev that hopefully has some clout in the community already.
More to come soon. Thanks for your input.