After the failed Breakout Gaming ICO managed only to raise 80.71 BTC of the 10,000 BTC they were aiming for, the team behind the coin are planning to pull a bait and switch in hopes of salvaging what's left of the non-existent casino. Some of poker's biggest names, such as David Benyamin, Todd Brunson and Johnny Chan have been used to promote the coin and gaming network.
Hello Breakout Community. Over the past several days, we have been in discussion about making some aggressive changes and would like to propose a few changes. Due to the bear market in btc and alts coupled with ongoing rumors of Fincen investigations holding a pall over the entire crypto community, we decided to propose a few changes in order to bring forth a better, more transparent and successful project for our investors.
Changes we are proposing:
A. Elimination of the PoW stage and the 7 million coins that would cause dilution of the market over a two yr period.
B. Bergstake to begin from day one, allowing Bergstake owners ability to earn more coins from day one.
C. Increasing the pool of BRO coins in the "coin sale" from 5.5 million to 10 million.
D. Raise a modest amount to finish the software (250K) and testing phase, so that we can show the crypto community, a software that is complete and fully tested.
E. If the total amount of btc raised falls short of the recommended amount to complete the software, we will raise the remaining amount through a "private" sale.
F. If we reach the amount of funds necessary to complete software, we will close the "coin sale" until we release and make software available to the public.
G. Remaining coins will be sold at the public release of beta software.
H. Pro-rata bonuses will be eliminated and be replaced with fixed pricing.
I. Current investors will receive a 100% bonus in BRO coins over their counterparts. @6000 BRO per btc
J. There will be a 48 hour period starting today and ending Wednesday 7 pm PST to be included in this pool of 6000 BRO per btc
K. After the 48 hour period, BRO will sell @3000 BRO per btc until the "coin sale" period ends.
L. Refund tool will be made for all initial investors who choose to request a refund.
M. After the software is completed, the tentative price for BRO will be @1000 BRO per btc
G. Bergstake period; 1 million new coins created annually instead of 2 million.
Benefits of the new proposed changes:
A. We wanted the general public to have first chance at getting the BRO coins, rather than large institutions. However, if the crypto community does not see the value, then we will pursue "private sales" to fund the project.
B. People who continue to remain in the BRO community will receive constant updates on the software implementation. Also, they will be the first to demo and provide feedback on the designs and usability, essentially being out main focus group.
C. There will be complete transparency in the development process and will allow the major portion of investors to actually see and play with the product before investing.
D. The minimum we wanted to raise for the project was 1000 btc. For obvious marketing reasons, a larger amount would be beneficial to the entire project and your investment, @5.5 million in the current pool, the maximum BRO anyone would receive would have been 5,500 BRO. You will be getting 6,000 BRO with the new scenario along with the Bergstake.
E. The total supply of BRO is reduced with the elimination of PoW mining. With the elimination, you will see less dilution.
F. The total percentage of Bergstake owned by the "coin sale" investors increases dramatically.
G. Even though the supply of annually minted coins decrease the actual total of BRO earned from coin sale investors through Bergstake increases.
H. Coin sale investors can sell their coins immediately and begin earning new coins with their Bergstake from day one of the launch.
Update – the original post was deleted and replaced with https://bitcointalk.org/index.php?topic=808648.msg9350086#msg9350086 ↩