I'm legitimately battling with myself to decide whether or not I will contribute. I want to -- because I am genuinely interested in the project and think that it could do amazing things for contract technology.
However, I am also put off by the terms of the sale. There is no cap on the amount of Ether that will be created in the sale with the exception that no individual or group will be allowed to have more than 12.5% of the total Ether generated in the genesis sale. Which means: endless dilution. In this case, if there is too much Ether generated in the sale then it may become more profitable to invest the same amount of money into mining instead -- as the amount of Ether generated each year through mining is going to be a function of the genesis sale.. or so they claim in their presale document.
The other point: The funny thing about successful crowdsales, is that there are no buyers left when the product comes to market because everyone dove in head-first. With no buyers (or at least not enough to drive up or sustain price) early purchasers dump on a thin market and it's a greater fool process from there. Not my cup of tea.
So -- we'll see. No matter what we have 14 days to still obtain the original sale price. I'll be interested to see how much they raise in that timeframe. I would most likely not invest if I could not get at least the original 2000Eth/BTC.
