Topic: [ANN] ECOBIT : WORLD'S FIRST-EVER GREEN PROJECT ICO (BASED ON NEM BLOCKCHAIN) - page 11. (Read 51335 times)

This!

This. It's foul play, if you ask me. And it's been promoted multiple times. Even though it is probably the doing of (one of) their devs. And probably without the consent of whatever team there is.

But more importantly, the overblown potential marketcap of 300 Million USD!!
It is a really interesting project that has got me sitting on the edge of my seat reading everything about it. And it has huge potential for making a difference. But, I think I'm going to have to sit on this one.

Having done some research of my own, here are my conclusions in a nutshell;

On the one hand I think this is a very viable project; its' scale is huge, the team is professional, and as global warming continues to increase the urgency amongst the international community to implement more and more regulation regarding this matter increases also. So the CC/Carbon offset market definitely has a lot of potential and this project constitutes a large part of the voluntary market.  The high level of professionalism of this project in general should weed out the worries concerning the negative aspects of the voluntary CC trading/carbon offset market. Also the fact that this project uses NEM means that this project has a huge advantage vis-a-vis other projects in the voluntary market since it assures to a large extent its legimitacy since all transactions and doings are written in the blockchain. This also should take away at least some worries concerning the negative aspects of the voluntary CC trading market.

On the other hand, Ecobit operates on the voluntary CC trading market, which is small in comparison to the compulsory market. I believe the entire market in 2014 was worth about 275 million Ecobit would have to get recognition from an organisation like Gold Standard in order to succesfully be able to compete on this market, which I think shouldn't be too hard considering the scale, quality and UN REDD+ endorsement of this project. Still then according to Ecobit their annual revenue they get is like 5-15 M USD a year, not bad, but not huge either. Still I am not sure how this is calculated. On their website they claim 800 M ton of Carbon over 30 years and according to reports the forecast price for carbon is about 15 to 50 USD in the near future, which would put the potential revenue way above 5 to 15M USD a year, but perhaps those forecasts involve the regulated markets. It's too vague for me to really comprehend, and I feel like this is the main issue with this ICO. It's vague on multiple levels. Like they already assured a deal for the next 30 years with Carbon offset/CC trading, however then why is this still listed on the ICO roadmap as though it requires 5k bitcoins to yet be implemented? It's vague because there is no central CEO, a public figure if you will, who explains all and can bear responsibility. It's also vague because the value of the project already is capped at almost 300 Million USD, with 8888888888 tokens of 3k satoshi, which I believe is a huge mistake. In its current format the ICO to me looks like this; an easy way to gain as much extra profits from this CC trading/offset deal as possible which imo is very sad because the business model involving Ecobits DOES have a lot of potential. Due to the professionalism and the scale of the project, the potential to create a billion dollar eco-tourism industry, the ecobits high-tech monetary system etc. it would be a very attractive investment imo if the team decided to keep 15-20 percent as premine and let the market decide the price with the ICO. If that were the case, personally I'd consider everything up till 30M ICO a very good opportunity to make gains in the future. This project demands trust that it's worthy of an almost 300 M USD market cap based on a deal in a relative small market, a good plan with a good team, but that's not in accordance with crypto dynamics. First you prove you are worthy of a higher market cap by delivering, consolidating fundamentals etc. before you rise in rank, that's the game and how it should be. The term "organic growth" should give an extra dimension to this project in order for me to be considered an attractive investment.

So in short; if team decides to provide the necessary clearity regarding the points just mentioned adjusts their ICO business model and let the free markets do their thing I think it's a good investment. In its current format it comes across as too vague and greed imo. There seems to be a trade-off between short term short-sighted greed and long term good standing reputation and realising potential in the long run. I am afraid in its current format the price would drop a lot once the tokens hit the free markets, thereby it will be hard to regain trust, if at all.

This is just my personal opinion, everybody should do his/her own research ofcourse.  

In their telegram channel they mentioned that they will do a weekly FB Live/Google Talk with the entire team and that they are preparing a schedule.

No bounty? No translation?

dev this question is forgotten he asked two times already and I am also curious if we can confirm your identities via social media. Besides that I have to concur with mcdoxy1 last post and think you are setting the bar to high with the set price. Many people will wait and see what it will do when it hits the exchanges.

That's the point I am talking about!
With the price of 3000 Satoshi the market capitalization has to be higher than NEM's and that is unrealistic at the moment.

I am sorry, but I will wait till Ecobit hopefully will be tradeable on Poloniex and I think it will be much cheaper than now!
ICO is for giving investors a chance to get early in an investment with high risk and low costs, but your project seems to be high risk and high costs.

Don't get me wrong, I love your idea, but you really have to think about your strategy !

Well yes we need to decide if it's over- or undervalued.
So we have to see what value there is right at this moment. From the information that was given up until this point it's probably overvalued.
The entire market capitalization would be $266 million. I still haven't seen proper justification for this valuation.

That carbon offset deal is the only thing that is there right now and you still have to audit the land to see how many carbon credits there are. No idea how long this is going to take and when you can start selling those credits. 2 years? After that the selling of those credit will maybe pull in about $5m-15m a year. Which is good, but no justification for the price. The rest of the projects are just vague dreams with no real plans that were presented.

Also when are you planning to have ecobits tradeable on crypto exchanges? Right after the ICO?

Hi judeafante,
That is a fair assessment/judgment (everyone needs to do their own assessment).  We do believe you are right about the coin's potential!  There's also nothing wrong with investing in this coin once you have seen more, and seen how it develops.

For those who are interested: NEM deposits are enabled.

There's no existing project yet the price is to high and the supply is to huge too,there will be a lot of dumping that's going to happen here if the dev has a huge amount of supply have to pass this one but will watch if this coin really has a good potential.

Hi Zylon,
Appreciate the question. 2 points:

(1) You can't really measure the price per token on a standalone basis as cheap or expensive - it needs to be considered in the context of the value you expect to derive from the token.

The nominal price is not a reliable measure.

(2) Correction on ICO price description.
Day 1-10: US$0.03 per EcoBit token.
Day 11: US$0.0303 per EcoBit token.
Day 12: US$0.0306 per EcoBit token.
...
Day 60: US$0.045 per EcoBit token.

Remember to use the special rewards link when signing up!
https://member.ecobit.io/Register?ref=EcoBitEarlyAdopter

hi dev sent you pm

There is no such thing as cheap or expensive price. Which alt coins come with real world projects?

Can somebody pls answer my question ^^
I am really interested in this project but the high price seems to be suspect somehow

You're right the project indeed looks good but they should have started the project right away even with small funds instead at least they have a roadmap in progress,but all this project is asking are funding for a huge project and also the question on what will they do if they cannot get in their target .

The organisers need to explain their intentions better, the project looks good, but the financial details look suspect.

I was thinking the same thing, coincidence with his posts.... ?

Did you just find out that 98.99% of altcoins are designed for 1 sole reason, to create a market to trade your real money to bitcoin then buying so called altcoins with bitcoin to hopefully double, triple, quadruple ones money, how could you possibly not know what an altcoin means and how many there are derived from the original....

This isn't 2013 lol, might as well plant a tree in your backyard and say you are contributing to the environment and get rewarded in said altcoin for your efforts.... haha

A few topics/replies for consideration

Concerns re: carbon credit/green projects
- I do think people are fair to raise concerns e.g. TheTruthIsOutThere
- And I do think people are also fair to raise supporting points e.g. McDoxy1

Here's the thing:
- In any barrel of apples, there's always going to be some bad apples - it would be unfair to paint the whole industry with the same brush.
- However, where questions need to be raised, or additional investigation needs to be performed - I think that's fair.  One should always do due diligence (seems often unheard-of in the crypto world).
- The EcoBit team is not going to close their ICO in 10 days - there is an extended ICO period.
- I think the next 60 days (or 57 days, to be precise) is where tough questions should be asked by others (and answers shared by the EcoBit team).  EcoBit team members will certainly jump in here to make clarifying statements.  If you get an answer from direct communications, share it here.  The more information that is shared with everyone, the better the judgment all can arrive at.

The EcoBit team is not shirking any responses, and they respect that people may have warranted concerns.  The questions raised online - are no less difficult than the questions raised in their offline fundraising. You should not hesitate to ask questions, but try to keep them claim-free so that the answers can be evaluated objectively.

Concerns re: promoters

Sir - with all due respect - that is an assertion that needs to be proven. If that is indeed the case, you should provide documentary evidence rather than an online statement.  Am sure that will also give comfort to other prospective investors.  Again, the EcoBit team will not shirk from responding - but do provide supporting evidence.

a strange project here - early adopter use their own affiliate link 
this make me have so much doubt with this project

maybe you should explain about that ? 

i think its pretty fair to suspect something like the scheme of this project. 1% grow each day, ain't that very attractive to a dumper like myself. i could invest few btc, get 10% and them dump this whole load of shit at once after the listing on exchange. which is why i'm also skeptical to this project.

Dear

Ecobit_Official


if 8 888 888 888 tokens is going to be created, it means that if ECOBIT's market price goes to 3000 satoshi, the market price of ECOBIT is going to be = 266 666 BTC market cap = 322 665 860 $ right now Could you clarify the informations about max number of coin ant POTENTIAL market cap at price of 3000 satoshi?

Thank you in advance
Regards
tsg