What is the current supply of ESP?
So far 111bln has been swapped.
Did you consider burning the unswapped coin?
It is up for consideration, however promotions and future giveaways are also a tempting idea.
The supply for ESP2 matches the mined supply of ESP1. Those who do not swap will have their coins automatically "donated" to the promotion of ESP through social media promotions, partnerships and other ventures to further the project.
Somehow I had in the back of my mind that those coins would be burned? Essentially you are making, what used to be owned by other people, yours again. I'm not quite sure if this is 100% politically correct?
I am not saying that you don't deserve these coins, but think about this case: Let's say you would have had a pre-mine of 1% in ESP 1 to use it for promotions etc., and 19% would have been mined in total using lots of computing power. So next you would pre-mine 20% for the swap, but only 10% would actually be swapped. And now you want to claim the remaining 10% as yours? This is essentially a huge additional pre-mine, I'm not sure if that is what you truly want. Which amount would we be talking about right now btw.?
The unswapped coins would be put into a separate address which would only be used for giveaways, contests, promotions and that sort of thing. Heck another option would be for us to slowly increase block network payouts with the amount not swapped.
We are not going to pull some nonsense, we have always aimed for legitimacy and transparency. If the community decides that instead of re issuing the coins back into the network they should be destroyed we will destroy them.The supply for ESP2 matches the mined supply of ESP1. Those who do not swap will have their coins automatically "donated" to the promotion of ESP through social media promotions, partnerships and other ventures to further the project.
Somehow I had in the back of my mind that those coins would be burned? Essentially you are making, what used to be owned by other people, yours again. I'm not quite sure if this is 100% politically correct?
I am not saying that you don't deserve these coins, but think about this case: Let's say you would have had a pre-mine of 1% in ESP 1 to use it for promotions etc., and 19% would have been mined in total using lots of computing power. So next you would pre-mine 20% for the swap, but only 10% would actually be swapped. And now you want to claim the remaining 10% as yours? This is essentially a huge additional pre-mine, I'm not sure if that is what you truly want. Which amount would we be talking about right now btw.?
You'll have to ask both them and Novaexchange, how much ESP1 was actually swapped, and how much ESP2 was left over. These "leftovers" can be spent on promotions, bounties, signature campaigns, contest on best ideas, best pictures, best logos... It can be used to fund external block explorers. Promotion promotion promotion.
You could ask someone else other than the team to hold these funds too, if they are all meant for promotions, or they can hold it all in one address that everyone can see. Currently, they are holding it all anyways. The idea is to give it all away.
The amount of coins swapped so far is here
https://novaexchange.com/coinswap/There are people like me, who was never part of any free give aways, but is buying this coin from the market.
Keeping all the unswapped coins for further promotion/free distribution is like a slap in the face of investors.
I understand that the devs are not worried about the price of the coin, but people who buy this coin from the market are.
I want to see the value of my coin grow over time, not getting diluted with further inflation.
Lets see how much coins are there unswapped at the end of the swap deadline.
Why would you consider this a slap in the face? It's intended to be quite the oposite. Now community members such as yourself would be able to get more ESP here and there over a considerable series of giveaways and increased block tx fee payouts to both stakers and miners.
There are many intuitive ways the the coins can be reused without dropping the price and causing investors to feel cheated which is and never will be the intention.
We think that if the community were to have the unswapped address available in the ESP2 chain for transparency and every giveaway was announced and approved upon by the community with reasonable payout so as not to shock the markets then we could actually grow the project.
The outcome ultimately lies with the community.
We'll have a look shortly, thank you very much
