I’ve just been looking about but haven’t seen the answers to several questions yet guys, so if you could help, would be appreciated:
Do the people investing in this venture have any legal claim of ownership over their share of the hardware mining farm (keeping in mind the the colored coins aren’t in any way legal at this time) ?
Does everyone who invests have the opportunity to verify with either the hardware manufacturer or data centre where the machines are stored that everything is working as per the description?
I’m still curious about where the data centre is located, any hints? This would be important information for anyone that considered redeeming hardware in the event of the data centre option becoming unprofitable.
If someone asks for money upfront to use for purchasing hardware on btcJam they are expected to reveal a whole load of personal details, to make taking legal action, in the event that you need to, a possibility. I saw the post where those of you who are organising this group buy mentioned your names and what you did for a living. Given that you are soliciting funds in a way which is not entirely dissimilar from btcJam, would it not be appropriate and likely to engender a sense of trust and safety if the people directly responsible for collecting the money and having legal claim to the hardware did the same thing?
When are the details about all the other parts of this project going to be made public? I know and appreciate the sentiment “under promise, over deliver”, but there are ways of expressing your intentions and how you plan to achieve them without “promising” anything. For instance, the talk of an exchange: What stage of development iss it? What is it that will make it a popular and useful exchange compared to the multitude available already? Who will have legal responsibility for maintaining the exchanges hot/cold wallets and providing security?
If someone chooses to redeem the hardware at any point then a certain amount of the coloured coins are “destroyed” - since the proceeds from your staking and exchange are going to be distributed to the people who own the coloured coins, if there are less coins because the hardware is taken offline will the proceeds be shared equally amongst the remaining coloured coin holders? Is the process for distribution of fees going to be automatic and transparent, or is there going to always be an individual that will have the ultimate say in what and how the fees are distributed?
Still very interested to see what this project can achieve, since there are a lot of clever people involved. It has the potential to be an amazing project. Hope you can put it all together