Balance Investor FAQ ⚖️
Here are some answers to the reasonable questions I have received
Where is the wallet submission link on Wefunder?
Wefunder is broken. Again. It broke the day we launched our campaign and, apparently, nothing has improved.
What do I need to do now?
Nothing. I am working on a better system.
I will be putting together a tool to manage this transition of the cap table to a token.
What kind of return can I expect?
Today, none. It took me quite a lot of effort to move the balance sheet from negative back to 0. I want to pay you back if you want to leave my journey.
Where is the money coming from?
While running Balance, I got early access to some amazing opportunities. Although they are all in my name, I still feel a deep obligation to my investors.
Why do you care about $1m so much?
I want the Ethereum community to trust me with hundreds of millions of dollars over the next few years. If I cannot be trusted with $1m of capital, how can I ask for more? This is all about proving that I am trustworthy and delivering on my honour.
Can I leave the money with you?
Absolutely! The goal with this project is to provide liquidity to those who need it and an opportunity for everyone else to manage a wallet with a token.
What will the token be called?
$RIC, of course!
Will there be a taxable event?
Not immediately, there is no gain.
Do I have to sign up for a wallet?
Yes. If you do not do that, I cannot help you?
Can you send me dollars to a bank account?
No. This is not the way. I am an Etherean. We use Ethereum. I used your money to create things for Ethereum. We are going to interact on Ethereum.
Do you have time to get on a call to explain this to me?
Not one-on-one. I am very open to doing a group call or Twitter Space to explain what is going on.
What can I do today to really help you?
Honestly, just use a mobile wallet and register an Ethereum name:
Try Rainbow (the Balance fork): https://rainbow.me
Buy some Ether ($30-100 max)
Register an Ethereum Name to the wallet
Send a tiny test transaction to Ric.eth
Now our wallets are bonded forever!
3 months later and still nothing
"I want the Ethereum community to trust me with hundreds of millions of dollars over the next few years. If I cannot be trusted with $1m of capital, how can I ask for more? This is all about proving that I am trustworthy and delivering on my honour." So 3 months later, obviously you are proving you can't be trusted.