Topic: [ANN] Decentralised Social Travel - page 17. (Read 11296 times)

https://www.pally.co/single-post/2017/09/04/Platform-Uses-of-Pallys-Cryptocurrency-PallyCoin

Hi @realuser, again, we appreciate your questions but do think that you have an unnecessarily accusatory tone.

1. If you read any of the press releases, articles around us or listen to any of the upcoming podcasts we're appearing on, you will find that we time and time again mention Airbnb as a competitor, we are not denying them as a competitor. Another point to your list of competitors is that almost half of your list of competitors are exclusively food-experience apps. You forgot to mention projects such as Backpackr, Tripr, Partywithalocal, CoolCousin and a few others who are also present in the space... Challenging the supply has proved to be a fairly easy hurdle giving that people are receptive to receiving the more than 20% commission fee taken by Airbnb themselves... Furthermore, these other companies and Pally can easily live in peaceful holistic co-existence since we do not recruit hosts to work for us full-time. If they would like to be listed across multiple experience sharing sites, we will not oppose that. The above comment coupled with anecdotal conversations with hosts who have been dealing with some of the other websites and who have had very poor experiences liaising with these companies likewise paves the way for Pally.

2: We just mentioned that we have been through a private fundraising round, yet you still claim that the reason behind adding blockchain technology to our product is because we aren't able to raise funds in a 'conventional' way. VC funding is a relatively new phenomena in itself and if you are so bound by 'conventionalism' that you can't see the advantages of opening up crowdfunding to the masses then there isn't much we can do to change that perception. Additionally, a wealth of VCs are currently exploring [Suspicious link removed]panies and are getting involved. Alternatively, you can read the piece our founder put up a while back which also spells out some of the broader advantages to blockchain crowdfunding as opposed to 'conventional funding'. https://www.linkedin.com/pulse/blockchain-n-roll-oliver-f-andersen. Taken directly from the article.

3: Going from an idea to a fully fledged concept, to recruitment of a team, to capital raising, to marketing to operational set up, to technical development, to information architecture to legal set-up is not as easy as spelling it out and there is a world more to it than what you are making it out to be.  In your opinion, this may be 'easy' to do, however, most other companies in our network and most business biographies would argue that taking products to market and developing a brand is both extremely challenging and quite costly.  

It seems an unnecessarily bearish view towards the new paradigm of blockchain technology from your perspective and it would seem that you somehow have taken a personal offence by our concept which we of course regret to be the case. We'd be interested to hear your thoughts on a bunch of other projects such as Storj (decentralised storage, competing with cloud storage as we know it), Swarm City (marketplace competing with Amazon), Ahoolee (search engine competing with....Google), LaZooz (ride-sharing competing with Uber) or even Bitcoin and Litecoin (currencies that are challenging the fiat world) who all seem to be in "Direct" competition with a conglomerate-like centralised counterpart.

You are correct that 'Pally' only has been around since earlier this year... our name prior to Pally was PenPal. If you follow this link you will find a whois picture which states that the domain has been active since March 2016 https://i.imgur.com/g6OsVdb.png. It seems that you'd like us to share every statistic, incorporation document and private correspondences with investors we have had with you.. we will be happy to share these with you when we prepare for our Initial Public Offering (IPO) sometime in the distant future...  

Good Labor Day weekend to you @realuser.  

@pally
as expected, your answers leave a lot of open points behind.

1. Does it matter how long a company existed? I know that Airbnb experiences launched just one year ago, but still they are a huge DIRECT competitor for you. And, most of the other websites that I listed have been around for at least 4 years. And, they are not keeping the price high because they want, but just because experiences are time consuming for the providers and time is money. Plus, the website needs to take commissions because it cannot sell "tokens" to get money but it needs a sustainable business model.

2. Of course you can create a company. But in this case it is crystal clear that you are not innovating anything. You are adding the blockchain to the product just to sell tokens, because you were not able to raise funds in a conventional way.

3. You are claiming that you have product and traction. So, where are the product and traction that you claim? A website or app with a marketplace costs barely nothing..there a are white label and even open source software. And, adding blockchain with ETH costs even less. So your product without users has zero value. Therefore, where are your users? Where is the traction? Where is your business model, where are your sales and number of active users? Why if you want to raise money in conventional way (giving away equity) you have to prove that you have all of them and instead, in this case, you can just claim something?
Then, you claimed that you have already raised money in private market...where are the documents?

Too many people are throwing money without any proof of anything.

PS. You claim that you have been around for 18 months. I see from SimilarWeb that your website is online only from May. So, where were you? Another name? Do you have press release? Do you have some facts to sustain what you are claiming?

Hi @123ltg - yes both are open, details for how to register for it is can be found in the description or on bounty.pally.co

Have a good Friday!

Facebook Bounty and Twitter Bounty open?

@realuser, thanks for your comment. To address some of your points:

1. We have existed for 18 months and have gone through a private seed round (in which product, users, traction etc were of course addressed in order to find investors). Secondly, we are not challenging Airbnb's core product (which is renting out accommodation and which, yes, has been around for years) but their Airbnb Experiences branch. This has not been around for years, more precisely, under a year (i.e. after we had started working on our idea). We differ from Airbnb Experiences in that we primarily target 18-30 year old users who are budget travellers, currently studying, on a gap-year or fresh out of school and into the real world. We therefore strive to create significantly cheaper experiences than the average cost of Airbnb's experiences (yes, it is possible to find affordable experiences, but they don't constitute the main-bulk of their curated selection.

2. We of course are aware that there are competitors out there but don't necessarily agree with your point that 'just because there are other companies in the travel space. you shouldn't create a new company' which essentially is what you are implying. If nobody challenged the current status quo, nothing would ever change or develop.

3. Finally, to your point of people pitching in money 'just because there is a cryptocurrency involved': This again is a point we definitely agree with and we don't necessarily agree that a company that is pre-product and has a very small team will need 100s of millions of dollars to get started on their project. However that is not a correct assessment of Pally. In light of you now knowing that we have previously raised money in the private market, have existed for well over a year, have taken products to market and are aiming to raise just below 5 million USD (again, VERY similar to what we'd be looking for in a Series A private fundraising round) rather than 50 or 500 million USD we hope you can see the logic behind our target amount. Not every company in this space is unjustifiably raising unnecessarily large amounts of capital, some of us are using it because it actually makes a lot of sense from a product perspective and because blockchain technology is one of the amazing technologies of tomorrow.

We hope we, with the above answer, somewhat have addressed some of your questions and concerns and of course welcome a good debate such as this. So thanks for your question and have a good day.

I do not really get the point of this app. There are currently over 50+ websites in which locals can list their activities for tourists. And one of this is Airbnb. So, how do you think you are going to get customers? Why nobody is asking this and everybody just throw money in the ICOs? Everybody in the travel sector knows that the problem for travel website and apps is to get customers.
And, do not tell me that you charge a low (or none) commission fee to list and book activities with locals because nobody cares if nobody know your website.
And then, as marketplace, you have to scale also the supply (people listing the activities)! Good luck to challenge Airbnb!

I do not get why if you are a normal startup, you have to prove that you have product, users, traction, etc. to approach funding and, instead, with a token, nobody care about the outcome of the company. I understand that is more gambling and trading (in fact nobody almost care anymore what is the product but just what is the price at the pre-ico and ico, what is the total supply and when it will be listed at exchanges), but it is important to understand that you are fueling a bubble instead of fueling real startups. Why do not throwing money in equity crowdfunding?

So just as information, here is a list of only some website providing the same service since years!
Airbnb
Withlocals
Showaround
BonAppetour
Eatwith
Vayable
VizEat
Guide Me Right
Like a local guide
Eatwith
Eatwithlocals
Feastly
GetGuided
Triip

Hi @neuro-artisan - many thanks for your interest. Unfortunately we already have a Polish version of our website live though Let us know if we can be of help with anything else of course! Have a good evening.

Reserving Polish translation

Hi @Bitum, a more comprehensive breakdown of the bounty components is now displayed on the thread as per your request - thanks for your feedback!

Hi @ Islapdonkey - Thanks for your super constructive and helpful input. Duly noted indeed, we will keep you up to date on our updates against your points

Hi @kriptokrayt - it was indeed a simple registration list through our website. We notified registrants ahead of the pre-sale live date and then again once it was about to kick off. We have opened registration for the ICO in October now and will be releasing more comms around it soon

Could you help me understand what was Pally's process for running their pre-sale ICO?

Was it a simple registration list or was there another process?

Your welcome. I would suggest linking team members profile with their LinkedIn accounts if feasible. A comprehensive background showing prior commitments before joining Pally will help to foster trust with investors. Anyway, count me in if you do decide to use a reputable escrow. Take care.

This project is for travelers to gain a sense of belonging, better in other cities of the same, and travelers a service provider for others and using block chain to connect between the various customer service, but there are similar to resources sharing and make a profit.

Hi @konco_kenthel - thanks for your comment and interest. We are currently working on our signature bounty and hope to be able to take it live at the same time as our telegram channel in the very near future! We have added an additional community manager to help us with the demand and communication

Have a good day ahead.

Apologies for the slow reply, lost track of a few messages in our hurry to clarify the accusations made immediately after your post

The presale price was at $0.025/PAL. Thanks for your interest in our company!

I wait for the development of his ico first hopefully later can also follow the various programs that will be offered but I will still choose one of the signature just so that the affairs of work quite easily.

Hi casdder, thanks for reaching out, will send a PM

Hi @Islapdonkey, many thank you for clarifying the origin of the comments made by princa and dexter42, we appreciate you posting it on this thread.