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RE: Bitland Mauritius White Paper
I'd read it twice and I must say that this is really huge project. The only think I'm can't grasp is how it's with all funding issue with current price of Cadastral? Or whitepaper is not updated?
Cadastral price has nothing to do with funding project and nothing to do with project really. Market pays attention to nothing.
The Breakdown of the Cadastral Token Distribution and 3 year estimated budget are as follows:
Total Tokens:
-30 Million total tokens issued in 1 Block
Blockchain Explorer:
http://www.cryptofresh.com/a/CADASTRAL
Security Protocol:
-MIT Graphene
Allocation:
-20 Million to sell through ICO/Private sales
-1 Million To Establish Basket of Currency Reserve
-2 Million to Pay Bitland Employees/Independent Contractors
-3 Million Designated to Smart Contract Oracles distributed over next 99 years
4 Million For Reserve for Governments to buy tokens, then pay out contracts through Bitland Global GUI/Hardware
This is the part I don't get it. Sorry, It looks like I'm to stupid. Thanks for answer anyway.
I am not sure what you don't get? The "crypto" community did not really support the ICO and the sales were abysmal. There is no way the ICO could have supported the entire project long term, and the project has been getting private support that has nothing to do with the ICO. That was early last year. You're not stupid whatsoever. The ICO sales just were no where near enough to be considered capital support long term for the actual manifestation of the project. Thus why the "token price" on the market has absolutely nothing to do with the actual real world project .
The estimated "costs" of the original project were in the millions. We did barely 100k in token sales. The project has been moving on much more than the token sales and the private funding that has kept things going has nothing to do with the token. Does that clear it up?
I'm interested if the token will keep the same function in the future like it was predicted in the whitepaper or there will be abandoned, because of different types of investments in project. Should we consider Cadastral dead or it's worth to wait? Thanks.
we have built our alpha protocol around the project. it's just not an open alpha because we're not going to pose any unnecessary risks to the software development life cycle. i believe a lot of organizations have made terrible judgement calls having open alpha stage tests. this is going into the second year of the project. i am not sure how long people think things take, but government contracts take months and sometimes years to secure. also, i hate the idea of hodling. the token is not a security. it is not equity. no token traded on the free market has been classified as a security unless it is associated with overstock.com or reddit i believe. equating tokens to equity or stake in the company is illegal for any US based company. this is not something i am sure many people are aware of. the people who have the token need to trade the token to make the value change. we aren't going to pump the token like other organizations have. we have been buying and selling the tokens on the open market in the form of controlled buybacks and controlled sells. This is true for every "crypto token"= the market value technically has nothing to do with anything the company is doing.
Now, we are always going to be buying the token back off the market when the company takes in profits, however, if you look at the history of "businesses", 90%(ish) of businesses fail in the first year due to cash flow problems.
We're already past that. We are trying to grow the organization to global enterprise scale in year 2 through organized expansion. That has NOTHING to do with the token price. The market does not react to anything the organization is doing, to the point of people asking if the "token is dead".
Well, if the community just sits on the token and doesn't trade, then yes...they kill the token eventually. The market needs the "holders" to "trade" the tokens. They are simply buying tokens and sitting on them. That doesn't work.