Budget ESBC cryptocurrency November 2018 March 2019
This article is written to explain the costs associated with running a project that are invisible to most. Perhaps this article will be useful to young project leaders. Many projects collect donations for funding, but I cannot and do not want to count on donations. In order to assure the future success of our project and blockchain it is important to have sufficient funding without relying on donations.
Thank you for reading. Please leave your questions and comments below. Suggestions for new articles are also welcome. I will be happy to share my experience.
As you know, after the launch of the new blockchain, we reserved about 300,000 coins for the development of the project. 700,000 were allocated for the swap of coins from the old blockchain. The first block was a premine.
We had hoped to achieve a price target of 1500 satoshi, this price made the investment for most profitable or break-even for all, in some cases we allocated more than 50% additional in coins, for those who supported us from the beginning, but not very well followed their coins. However the price ended up starting at 1200 satoshi.
We planned to get 4.5 btc, received no more than 3.6 and those on “paper” since there was no demand. I hope many understand how little it is, as new HYIP fraudulent projects easily collect 10 BTC of which pay CryptoBridge and take a few BTC for personal needs.
Crex24: 0.6 BTC
Masternodes.online update for Bronze: 0.1 BTC
listing Silver, Gold, Platinum + Promo Banner: 0.5 BTC
the best offer for ESBC, regular price 0.85 BTC
Masternodes.pro listing all tiers+ Promo Banner: 0.25 BTC
the best offer for ESBC, regular price 0.5 BTC
MNRank listing all tiers + Promo Banner: 0.16 BTC
the best offer for ESBC, regular price 0.32 BTC
MNROI listing all tiers: free, special thanks from ESBC: 0.04 BTC
Amount: 1.65 BTC
Shared Masternodes Services
Gentarium for instant masternode: 5 000 ESBC
Trittium for instant masternode: 5 000 ESBC
GrandMasternodePool for instant masternode: 5 000 ESBC
Stack of Stake for instant masternode: 5 000 + 20 000 ESBC
Midas listing paid + for instant: 0.075 BTC+ 25 000 ESBC
Snode listing paid + for instant: 0.075 BTC+ 25 000 ESBC
Stakecube listing paid + budget for faucet: : 0.1 BTC + 10000 ESBC
SimplePosPool donation for team + for instant: 15 000 +50 000
Just advert EvoNodes, great service that added us for free.
Here are the exact numbers at the time of sending, it is not quite correct, sent 5000 coins for Gentarium or GrandMasternode are equal to 50 000 coins sent for SimplePosPool, of course they are not equal in price, but in the fact that during this period of time amount of coins increased in coins made an example X10.
Approximate total expend for Shared Masternodes:
165 000 ESBC + 0.25 btc
Total amount: 165 000 ESBC + 1.9 BTC
“ScamPromoService”: sent 25 000 ESBC, later, we blocked their addresses on 80 000 ESBC, more information about situation here be careful, Russian language ;)
YouTube reviews: 35 000 ESBC
Banner promotion Gentarium: 25 000 ESBC
Twitter/Discord/Bitcointalk promotion + giveaway: 56 000 ESBC
Design for website/betting platform/logo/banner: 0.3 btc
Weekly payments for Bounty and Airdrop: more than 1000 ESBC.
Support for trading volumes and prices on exchanges: an average of more than 1000 coins every day.
Total amount: 309 000 ESBC + 1.9 BTC
At the moment I have prepared answers to your questions::
- Why give away so many coins?
this provokes a drop in price
- The community and the events of generosity are the Foundation, thanks to which we have reached the position we are in now, we have a lot of real supporters and I am happy with the result.
-Why we need support volume and price? The market should be determine price
In fact, it does not work that way, at best, the market will simply freeze the price and will not allow it to fall down quickly, no one will be interested in a project that does not have trading volumes on the exchange, since in the future it will be difficult to sell, the volume of trading on the exchange is one of the best ways to promote the price / quality ratio.
Why we need so many similar services? they drop coins in the market.
Services of course perform about the same functions and some better than others, but each service has its own audience, which uses only them, so adding to any service with a large audience is a good way to advertise.
I did not count into account the bonuses of my team, i mean those who help us with the bounty and moderation, in the total amount of bonuses more than 50 000 ESBC,
compensation for unstable work masternod at the initial stage, generous distribution for pumping level in discord, invite bounty, compensation to my partner, with whom we started this project (I will write a separate article about the life of the project later)
As a result, with the current price, the amount spent on the development of the project =304 000 ESBC + 1.9 BTC = 2.28 BTC+ 1.9 BTC= 4.18 BTC
Already spent more than we had at the start.
Now ESBC have funds more than 1 BTC и 320 000 ESBC.
Next big Marketing goal: listing on CryptoBridge (not approved yet)
How did I do it? just didn’t sell the coin without the needs for the project and for personal needs
Of course, in theory, if there were no sales of coins at all without the need or at least did not support trading in the market, we could now have more than 2,000,000 coins and this would be enough for development, but all this is only in theory. Exaggerate further: it was possible not to pay for promotion, masternode services and to wither over coins but, I am happy with the current result, it perfectly shows the graph of our capitalisation, few people you will find such a strong growth.