>>To summarize it: Similar to Steemit, the tokens are used for: a) payments in the ecosystem. payments with our native EDU currency are modeled after processes and behavior native to the LiveEdu ecosystem. ETH, BTC or fiat cannot model it as LiveEdu does not control them b) Rewarding desired positive behavior of the ecosystem participants: site moderators, learners c) Reward API developers d) Rewarding project creators using a native currency modeled exactly after desired activities of project creators
I have the same problem with steemit though,
As an investor that buys into your coin, I do so basically under the hope/premise that the coin itself becomes valued by someone so much that they pay me more than I bought it for.
When you say you want to use the coin to 'reward' api developers/etc... who's coins exactly are you giving them?
Will you be buying coins off the exchanges to pay for the API developers/content?
So far I read from the whitepaper that the coins will come from locked 'pools' which is fine, however it does mean that the 50% of the coins given to investors aren't needed for the initial funding of API developers/project creators etc.
Furthermore, those project creators will just accept USD anyway for their projects like UDEMY?
OR will you allow for people to pay for classes using your token ASWELL as USD?
Why not do what Cuckcoin does and have token holders get a % of the profits the platform generates so the token becomes an income-generating asset tied to the success of the platform?
Because at the moment, say the platform/company reaches 10Bn market cap and is widely successful
What exactly do I hold? I don't have any share of a 1Bn company, my tokens apparently can't be used to purchase content, and the 'rewarding' of content creators is done through locked pools (ie not my tokens)...
I suspect management still makes the final calls on direction regardless of token votes, so I don't have that power either.