If you are going to do a crowd funding campaign can you please do it on the bitshares platform and only accept bitUSD or even bitCNY. This would mean that the funds donated are kept in stable store of value. It also means that there will be greater demand for bitUSD and subsequently BTS. If the play platform is truly apart of the bitshares ecosystem why not fully utilize the advantages that bitshares provides?
If you are going to do a crowd sale it should be in BitCNY / BitUSD. BTC is nice and liquid but is volatile and doesn't help the ecosystem nor help advertize the advantages of your base platform.
All of that said, I think you are much better off avoiding the crowd sale all together and returning all funds received. From a regulatory perspective it is just too messy and adds unnecessary risk when we now have the option of funding via delegate pay. In fact, from a regulatory perspective it would be wiser to launch a simple token like PTS and allocate 20% to you to sell as necessary to fund your operation and then upgrade.
Delegate pay should also be a means to fund operation.
I do understand that BTC is a good crowd funding system because it can attract NEW money from OUTSIDE BTS which is much more than attempting to attract money from INSIDE BTS. In fact raising money in BitUSD would probably result in them dumping all the funds raised for BTC so they can sell for CNY and fund operations. So whether we do it or they do it, BTS must be dumped to invest in PLAY unless the developers of PLAY have incentive to hold BTS.
This crowdfunding is through dacx.com platform. I didn't pay any attention on this, logxing was communicating with the community and DACX, and know the reason better than me. My understanding from the communication with others is as following, the reason for not using model of crowd-hiring with PLS is that, people have family and bill to pay, they have faith in PLAY but have no choise but to sell the PLS for bitcoins/USD to pay the bills, this is not a tend that PLS holders would prefer. If there are ways to resolve this, I can agree and follow with bytemater's suggesion that the crowdfunding should be stopped. (PS: PLAY now is no longer an one-manned project, there are several entities promoting this project now, I only have one vote even if I would like to follow with bytemaster's approach)
It’s easier for investors who really have great faith in PLAY’s growth to invest because they only need to invest in the first week to receive the most bonus. Avoid competition like AGS holders.
It will let the market decide how much they think the whole project should be priced. Also, to guarantee the initial investors benefits but also guarantee a minimum amount of fund to operate and develop PLAY, we decided to set a cap for the fund that we are raising. So that each PLS won’t start too high a value and investors will get more gains in the value growth of Play.
Why not use BitUSD or BTS? The first one is for technical reason, because of TITAN, BTS is not good for participates to audit on hand at present, and a wide used and tested multi-signature feature is required too.
For Bitcoin, there are more holders, People are easier and more used to use Bitcoin to invest in these projects. So, in order to guarantee the benefits of all PLS holders, we decided to raise in Bitcoin. The reason not to use a user created asset like PTS for sale is similar to this, the reason for crowdfunding is for marking concerns too, to have more people who didn't have bts but are interested in play to participate. But please remember that you *SHOULD* always read the risk warning first, participate should treat it like AGS donations.
Some options might be converting the Bitcoins to BitCNY or BitUSD to resolve the concerns of volatility since BitCNY and BitUSD is perfect on this.