In registering for this ICO and imputing my public Bitcoin Address key, I see it gave me a bunch of return addresses for various crypto currencies. I did not recall seeing a specific amount and wondered what to do next. I could not find any details to this on the NVO website on some percentage figures relating to returns. I discovered the 'Slack' NVO forum dealing with this and discovered that you give money to NVO. What you put in is proportional to what you get back. They said "there is no minimum or maximum I believe" - "I believe"???
NVO: "50% of fees. Proportional in that if 1,000 invested and you have 100 invested, you would get back 10% of the 50% from user fees"
NVO: There is no minimum, and no maximum, however, regarding bitcoin, it is good to send more then 0.005 BTC because of transaction fees" - 0.005BTC = $13.50 USD
Me: Question on the 1000 & 100
NVO: "was just giving an example @pinball from what I understand not citing actual figures"
NVO: The token distribution is, 15M nvo tokens will be proportionally distributed to each crowdsale participant then, NVOS which is a sub token, will be sent proportionally to the amount of NVOT held by each NVO wallet the Amount of NVOS created will be equal to 50% of the fees collected, each NVOS will represent 99cent in Bitcoin you will have the ability to either exchange them for bitcoin, or keep them on a paper wallet for later use.
NVO: "from the fees 50% of 0.2% each way - proportional to your investment"
Me: "So, as with any ICO, we have to trust (with our donations) that you aren't going to run away with the cash.
NVO: "the difference is that we have escrows who releases the funds in milestones, they won't release 100% of the funds"
NVO: "the escrows are trusted third parties coming from the bticointalk forum.They are responcible for the funds management as long as we have an escrow agreement with them in our case, we agreed that the escrows will release the funds based on milestone model, not a full release
NVO: "it is a risk. So never invest more than you can afford to lose. Also a positive is that projects that fail, you can usually write off as a loss on your tax bill be cheaper"
NVO: "Yes, it is a protection for the participants"
Me: "Can I get an average on what most people are donating in USD?"
NVO: "you open the escrow address in blockchain.info and make up your own mind about the average"
- I had a look on blockchain.info and was confused by the recipient info showing an average of around 30,000 to 35,000 BTC ???
Me: "I don't get this figure, being a newbie?"
- No response
Me: "So, can I then ask how much you guys on average would have donated towards this ICO?"
NVO" "you guys"? Who"
Me: " Sitting their typing"
NVO: "would have donated? or what is the average donation atm?"
NVO: "4.7 mill raised. how many investors?"
Me: "Got me?"
NVO: "WUT - how many investors in total so far?"
NVO: "Over 6k investors and over 20k registered"
Me: "No, how much on average do people invest as a donation?"
NVO: "lets say 6.66k investors"
NVO: "I have no idea what you're asking."
NVO: "Lucky number"
NVO: ""invest as a donation"?"
Me: "Send for this ICO"
NVO: "Either it's an investment or a donation"
NVO: "number raised/number of investors"
NVO: "the average is like $750"
NVO: "assuming 6.2k investors and 4.7 mill raised"
Me: "So, can I bounce some things I've seen in other wallets i.e. Jaxx and exodus?"
First up, Jaxx = no pass key and hackable, even when not running, but computer on (apparently). Exodus, passkey, but does not stress that it should be a longer pass key. Jaxx and Exodus = not signable, like electrum. Jaxx and Exodus = complaints about using shapeshift i.e. people say fees are high, but some are willling to pay this for the hassles avoided going through exchanges and being speedy."
NVO: "Just use Electrum for BTC"
Me: "Yes, but you guys are going to create your own wallet like jaxx and exodus right? So, I'm just wondering if you have seen this problem and avoid them in your wallet?"
NVO: "JAXX isn't more hackable then any other project, you can do the same with exodus (didn't tried, but it should be) it is just that most of the projects use a built-in database, JAXX use pouchdb (last time i checked) it is not a flaw, because your computer have to be compromised, and you need a specific tool to exploit it properly
Me: "Okay, just relating to what people say online, which, when I as a user see, think - Avoid and then go to electrum"
- My question relates to building as superior wallet in sync with its exchange from a money making business perspective.
NVO: "you haven't been reading the latest stuff on Jaxx then Unsalted SHA256 Plaintext PIN"
Me: "So your wallet is going to be super dooper?"
NVO: "like bradley cooper, as fly as a hooper?"
Me: "A1 that gets the top rating? And with a team that has the passion I'm seeing out of the people working with PIV crypto. (No answer)
Me: "I should be videoing this moment. Something to present to a business board meeting." - No answer
Me: "Thanks. Goodby."
Found NVO demo wallet and tried it on my mac - Very basic
Log back in later
Me: : "Are you guys the people from NVO or are people who work for Slack?"
NVO: "Nvo lol"
Me: "Now I'm really worrried."
Other forum Member: " so now i'm curious to calculate an approximate ROI"
NVO: "you wont get any until we see the system working"
OFM: " i know but as an investor still good to know, there are 15million tokens correct, so 15million divided into 5million"
NWO: "itll be like $0.01/day per NVOT, if the exchange works well and is competetive"
OFM: "yeah so i calculated that the approximate price of an NVOT will be 3usd"
NWO: "so you want to speculate?, I mean you could just relax and enjoy passive income"
OFM: " no, speculation, just trying to figure out how much money i have to invest for a certain number of nvot, i think 3000usd for 1000nvot, very grossly, so 1000 nvots * 0.01/day, = 10usd/day, in a year that is 3650 usd, in a year i could get back investment + some extra, i'm really excited about NVO, i mean it is the first of its kind, bts is different, waves is different, but one more questiion, nvot holders will get nvos"
NWO: " its the way to convert your returns in btc, via $, nvos will always be $0.99"
So, tiresome to go through all of this. Why wasn't there clear instructions as to deposit of money. why the caginess? Why the brush off in way of my questions towards the NVO wallet and no answer in the end?
Can anyone make better sense of all of this? Is this legit or a scam? $750 on average investment to receive yearly residual income? $3650 USD going to take a year to see money back and thereafter sweet money ongoing?