ClusterCoin FAQ

In an effort to keep everyone informed and reduce the amount of FUD that seems to exist, here are the facts about ClusterCoin.  If you have any additional questions, please feel free to find me on IRC.  I will continue to update this FAQ as necessary.

Have the devs run off with the funds?

No.  We hold all funds until the developers have delivered working wallet, blockchain and blockexplorer as stated by the ICO terms in the original announcement.  There is a 3 day escrow period once we have verified all conditions have been met.  We are only 12 hours in since the ICO sold out at ~2200 PST last night.

Were the terms of ICO not met because PoD isn't complete yet?

No, for two reasons.  First, that condition was added AFTER the CLSTR terms were discussed and started.  This was not a requirement previous to the NEOS ICO. Secondly, the page that everyone is referencing is OUR conditions with the developers. They are meant to be our requirements with the developers for hosting an ICO. The conditions you agreed to when you bought the ICO is always stated clearly in the ICO announcement.  If you have questions on those, please ask before purchasing coins.

Have the terms of the ICO been met?

Good question.  It's been 12 hours since the ICO ended at ~2200 PST last night. This is the time that we, along with the coin development team, do our due diligence to ensure all conditions are met before closing the ICO.

Why is the wallet disabled?

The wallet is disabled until we have verified a working wallet and blockchain for your safety and ours.  This also helps simplify the repurchasing of the coins if the situation arises.

How will a refund happen if the developers don't meet the requirements?

If the success conditions are not met, we will be putting up a buy wall at the ICO price to repurchase all coins that were sold. You must still own the coins to be able to sell them back for a refund.  If you have sold them, you already received your compensation.

Escrow period is over.  What's going on?

In an effort to perform additional due diligence, we have worked with the developer and extended escrow until PoD has been completed.  No funds will be released until that is complete and we have had time to evaluate all the requirements. 

Lastly, ICOs are like any other investment and can go up or down.  It is up to you to do your own researching before investing in this and any crypto currency.