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Topic: [ANN] ECOBIT : WORLD'S FIRST-EVER GREEN PROJECT ICO (BASED ON NEM BLOCKCHAIN) - page 11. (Read 51349 times)

newbie
Activity: 29
Merit: 0
They are targeting a big amount and yet they are not doing any marketing for this project, and the ico is started very fast without a week notice, I will have to see how this projects go by without marketing something is wrong there's absence of effort in the part of this team
This!

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

maybe you should explain about that ?  Huh
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.
sr. member
Activity: 404
Merit: 500
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.  Wink
full member
Activity: 134
Merit: 100
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.
full member
Activity: 506
Merit: 101
1 & 0 😏
No bounty? No translation?
sr. member
Activity: 453
Merit: 261
Look Morty magic internet money
Dear OP,

Can you post the social media profiles of the team members because I do not believe they are in your team.

All of them can be seen in our events and video. Please check it out.

Give their social media profiles please. I can rent a speaker for a few bucks.

When they are serious they should not have any problem to share their profiles.  

Also give me concrete examples + links to your "green projects"

Do I say something crazy here? Come on dev, give me info so I know who I'm dealing with. I can not invest into something anonymous.

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.
full member
Activity: 242
Merit: 102
I am just a crypto-beginner, but is the price of 3000 satoshi not quit expensive according to an amount of 8,888,888,888 units?
NEM has the same amount but the price is about 1700 satoshi,  2 years after launch!!

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

(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.

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?


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. Undecided

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 !

full member
Activity: 134
Merit: 100
(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.

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?
newbie
Activity: 14
Merit: 0
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 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.


sr. member
Activity: 2254
Merit: 258
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.
newbie
Activity: 14
Merit: 0
I am just a crypto-beginner, but is the price of 3000 satoshi not quit expensive according to an amount of 8,888,888,888 units?
NEM has the same amount but the price is about 1700 satoshi,  2 years after launch!!

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
legendary
Activity: 2226
Merit: 1014
newbie
Activity: 40
Merit: 0
I am just a crypto-beginner, but is the price of 3000 satoshi not quit expensive according to an amount of 8,888,888,888 units?
NEM has the same amount but the price is about 1700 satoshi,  2 years after launch!!

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

There is no such thing as cheap or expensive price. Which alt coins come with real world projects?
full member
Activity: 242
Merit: 102
I am just a crypto-beginner, but is the price of 3000 satoshi not quit expensive according to an amount of 8,888,888,888 units?
NEM has the same amount but the price is about 1700 satoshi,  2 years after launch!!

Can somebody pls answer my question ^^
I am really interested in this project but the high price seems to be suspect somehow Huh
legendary
Activity: 2450
Merit: 1047
by that logic, the entire crypto industry is also a huge scam. Better sell all your coins then.

sure refute all the evidence Mr shill..

 Kiss

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

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.... Roll Eyes haha


The organisers need to explain their intentions better, the project looks good, but the financial details look suspect.
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 .
full member
Activity: 130
Merit: 100
by that logic, the entire crypto industry is also a huge scam. Better sell all your coins then.

sure refute all the evidence Mr shill..

 Kiss

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

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.... Roll Eyes haha

The organisers need to explain their intentions better, the project looks good, but the financial details look suspect.
legendary
Activity: 1218
Merit: 1001
by that logic, the entire crypto industry is also a huge scam. Better sell all your coins then.

sure refute all the evidence Mr shill..

 Kiss

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

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.... Roll Eyes haha
newbie
Activity: 14
Merit: 0
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
Quote
.... Tang too siah and that mr aaron are btcpanda ponzi scammers....
i only see Lon Wong the nem guy there....
but why Lon work with scammers.
Lon is big boss of nem.

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.
sr. member
Activity: 1050
Merit: 250
Revolutionizing Reward Points
a strange project here - early adopter use their own affiliate link  Shocked
this make me have so much doubt with this project

maybe you should explain about that ?  Huh
legendary
Activity: 3178
Merit: 1054
by that logic, the entire crypto industry is also a huge scam. Better sell all your coins then.

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.
tsg
full member
Activity: 252
Merit: 103
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 Huh 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
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