Topic: [ANN] [LIFE] Token | Card | Reward | Simply for everyday people | Launched - page 10. (Read 78497 times)

An update from their website: https://www.lifelabs.io/life-update-from-the-recently-appointed-md/

Only way to prove it's not a scam if DEV come up with REGULAR UPDATES,

TILL then even am going away from this, and why does it take """so long""" for wallet launch...? eh

100% Scam...sorry!!

Wake up!
There are lot of same coins....99% are not good enough...so maybe 20 coins have future

I briefly looked into this coin a few months back and wrote it off as a scam. The team at one point in Nov had promised to have the coin de-listed from coinex because the lowest possible price there was 1 sat and on Hitbtc it was 10 sat, guaranteeing a x10 increase by taking advantage of a design quirk in the exchange.  That is scammy as fuck haha. If a start up is promising to increase value for 'investors' by taking advantage of loop holes in the market place you should btfo.

Thanks for your reply Electric. I concur with your comments regarding the volatility of this token and the effect of the spike on the community's confidence in the project.

As far as your comments on transparency are concerned, I would certainly agree that any company would be foolish to promulgate information about R&D in the form of weekly updates. However, that is a matter of commercial confidentiality aimed at protecting intellectual property and so on from competitors wishing to gain a competitive edge. I'd regard that more as disclosure than transparency. My concern regarding transparency - and, ironically, I accept that I may not have made it sufficiently clear - centres on the extent to which the LIFE team have been candid and honest about what lies behind the project, not the minutiea of product development. It seems to me that they need to be more open and direct. They also need to disambiguate their communications in order to resore some confidence in LIFE. To import you car analogy for my purposes, obviously no manufacturer would reveal development details ahead of a product launch. However,it is a matter of record that the largest car maker in the world, Volkswagen, deliberately contrived to deceive its customers and the wider consumer base, by misrepresenting the ecologigal credentials of their diesel models with false emissions data. It is a policy that has cost them dear. Not only have they suffered reputational damage, but will certainly take a huge financial hit when the legal actions currently underway in the US come to fruition. Had they been honest with their customers, they would not have sought to lie to them. But having done so, it would have been far better to have acknowledged their culpability and engaged in damage limitation at an earlier stage. LIFE's no VW, but if they want people to buy into their vision at this embryonic stage, the team must be completely straight about themselves and their project.

I can understand why you choose to compare LIFE with Apple and car manufacturers, but the token is not a product that can be considered alongside a phone or a car. It has a digital existence and a value and status that are determined exclusively by the importance attached to it by the community. There is no underlying intrinsic value to LIFE and it is not properly fungible as some other asset classes are. To that extent the success or otherwise of the token and the project in general is intinsically connected to the team, so much so as to be to all intents and puposes indistinguishable from it. Everybody who buys LIFE is taking a punt. There's nothing wrong with that. But there is something wrong with a company that presents a compelling image, but fails to engage fully with the supporters who can make or break it. It is at best lazy and at worst dishonest.

Your point about the adopters carries weight, but in my view only from the perspective of the originators of the project. A group of people coming together to create a cryptocurency would seek to make their creation as credible as possible. They would want the venture to appear solid and substantial, and the window dressing provided by the adopters would be essential in validating their proposition. They might also wish to imbue it with some kind of USP, like a charitable component. Something like that would give the project a patina of respectability. Where I part company with you is in accepting that this is sufficient to instill confidence in prospective buyers of both the token and the team. What kudos or growth is likely to accrue from an association with a few new businesses that haven't yet got off the ground themselves? Furthermore, why would anyone choose to throw money at a group of guys who've had a light- bulb moment and are asking us to believe that their little start-up will be worth hundreds of millions of pounds in a few months? I would not be so focused on this point but for Jon Bushnell's upbeat and frankly fantastical assurances about LIFE's incandescently bright future. His glass isn't half full, it's positively overflowing!

Let's just examine some of his comments. Currently LIFE's market cap sits in the range between $6million and $9million. Albeit that it's a hypothesis, Mr Bushnell indicates in the La Bulle Crypto interview broadcast on 16th December 2017, that In June 2018 the market cap might be circa £600million or more than $1billion. That assumes more than a hundred fold growth rate to get it to that point from the lowest current value. It is absurd to posit that this may materialise in four months, particularly looking at the current trajectory. However, it is even more ridiculuous to have made that prediction in mid December 2017 when the market cap was circa $5million. The recording actually took place on the 6th when the market cap was less than $2million. He asserts that it's just mathematics, while ignoring the fact that any rise in value is predicated on continued interest from a growing community of speculators. That's the seed bed that forces growth, not a misplaced faith in exponential curves. He goes on to suggest that a major marketing campaign is in prospect. He blithely reassures us that LIFE will be seen 'everywhere'. He references TV, radio and other media . He even drags in Hollywood at one point. Apparently LIFE will be 'placed in a variety of places, all over the place.' Maybe they'll stick the logo on Kim Jon-un's next rocket or get it embroidered on Meghan Markle's wedding dress, who knows? He also comments that the 'banking system is flawed in terms of trust'. That's certainly true,  yet faced with a tanking market cap, he is doing little or nothing to restore confidence and trust in LIFE by communicating directly and honestly with its supporters. His position is becoming increasingly invidious.

Electric, you sound like the kind of guy who's got his head screwed on and is just looking at LIFE as a high risk component of a  balanced portfolio. I hope you don't lose money on it, but I'm guessing you can take the hit. For everyone else, I think the coffee's finally precolated. You need to wake up and smell it. Then you can decide to drink it or tip it down the sink. Old Hat, just be cautious and don't risk what you can't afford to lose. Even using Electric's criterion of judgement, you are self-evidently not an idiot, as you are clearly full of doubts. And don't worry, your English is excellent. 10sat, great comment. I think you might just be a philosopher to rival the greats!

That article is simple research and follow ups which just proves the company has a lot of issues, that person being 20 years old or not did what many people failed to do before investing..  Life's Whitepaper is completely bogus at this point.  Almost everything on there is up for discussion. All the people promoting this token, says they have nothing to hide, but they hiding things anyway. 

Very interesting read. I'm also waiting for an official response. A team can't hide behind the excuse "We don't answer because we're doing something else (eg. working on the product)."
The "working on the product" should include the answer to the community doubts.

Well, well, well...

LIFE is too short to understand LIFE itself 

I am actually one of those "idiots" that because I am ignorant about finance in general has to ask basic and sometimes what may seem like questions with obvious answers. I understand your concern regarding most cryptocurrency investors being naive or ignorant about finance but I think we all have to start somehere and not all of us are or should be experts in economy and investment to have the right to enter into cryptocurrencies. If that was so, one of the main reasons for the existence of cryptocurrency; "money in the hands of the people" would be moot. I do agree that it is always good to at least try to understand the basics of a buisness we're trying to get into and I don't appreciate the sensationalism that runs amok forums and internet headlines about cryptocurrency, for good or for bad.
That being said, I am trying to do some research, and that is done for the most part, on all subjects, reading and learning what other people have said, written down and researched themselves. After that comes the harder part of filtering and critical thinking, but we do need facts for that indeed.

Sorry for my awkward English and I hope I have not offended you. Thank you kindly for your thoughtful reply.
Best wishes for you

Nice work, at least there's a little bit of documentation behind. But still, it doesn't add anything to what has previously been said about the founders, etc. At least he is honest by admitting that he is a 20 years old kid with only a few weeks of crypto experience. That sums it up. This is the very problem with internet as it is today, everybody can speak up, even if they don't have any idea about what they are talking about, without any respect or any care for the consequences of their writings. And other people follow like sheeps.

The new elements about Bitgo and the charities are risible when you are used to the business world (which the writer obviously isn't).
Honestly, who on earth would be dumb enough to think that a company will respond like this when asked out of the blue if they have a business ongoing with an other company ? How can you be so naive ? Like the other idiot who previously called Visa on the phone to ask them if they had a partnership with LifeLabs for debit cards... Those companies have NDAs, contracts and other stuff, it's not that easy. Please people keep a critical mind and don't fall for this kind of bullshit. There might or there might not be something behind, but one thing that's for sure is that such articles are not more trustable than what the team says. The whole thing is ridiculous and shows what a bunch of idiots most cryptocurrency "investors" are.

I think a lot of people (me included) just realized that the "community" thing was just bullshit, would it be on Telegram, Reddit or here. If being here is nothing but reading false accusations VS blind praising, then there are better things to do IRL. There's no need to loose more time here, we are only feeding the bunch of trolls and fudders who have a very precise agenda and have already been exposed. As it has been said multiple times before, the sole fact that they put so much energy in that FUD proves that it's worth keeping your investment and trusting the team. They wanted to drop the price and they are succeeding because a lot of crypto "investors" are mostly weak idiots like Livewryght and his merry men.

If you need additional information my friend, look for them yourself, do your own research, but don't just eat what the trolls are feeding you because it appeal to your stress of not becoming rich fast. Just be patient and wait for tangible signs (good or bad) to make your decisions. For the moment the only persons who know what is really going on is the team, any other shill or FUD is nothing but fantasy. So if you believe then keep your tokens apart and do something else in your life until it moves, and if you don't, just move on to something else.

And most people should always remember that idiots are always full of certitude while intelligent people are always full of doubts. As we can't say what LIFE's future will be like, let's just wait and see. Now back to real life for a while.

Please for all investors interested in additional information about this token please check out the following link:

https://medium.com/@blueappple46/lifelabs-io-a-closer-look-cab735f0e1cd

It is an article posted recently on medium about one investor's experience with this token and his own research on this enterprise.

I wonder why all the previous people defending this token so badly stopped posting after the last Q&A.
I would like to know if someone else has any additional information,
Thanks.

I think that everybody got a little bit too emotional about this whole Life thing since january's spike. This is easy to understand considering that the token went from 2 to 40 sat (and even 80 sat on some exchanges) in such a short time. It is obvious that things started to get messy after the "crash" that followed shortly, with the apparition of doubts about the team, their work, past achievements and future potential. This is unfortunately driven by people who have a very little experience of "investing" and still cannot take distance with their emotions. We cannot really blame that as the incoming of a lot of those profiles is mostly what made the general prices in crypto "skyrocket" during the mid/end 2017. I'm affraid that we cannot get one without the other so we just have to deal with it.

Considering transparency, I do not fully agree with you in the current situation, though I would in any other. I don't think that Lifelabs owes anybody "transparency". It would be the case if there had been an ICO or a crowdfunding, but it's not the case. Apparently what they did was only a token pre-sale. In the real business world, transparency is never a good thing. For example, would you blame Apple not to give you daily updates on the next gen iPhone's developpment ? Would you blame any car manufacturer for not disclosing weekly details on their upcoming models ? When there is competition, there cannot be any transparency on the products, this is common sense. Same goes for the partnerships, it's always this way. Important ones will never be so casually disclosed, because of their implications.

The only transparency that they absolutely need to provide is about the managing team and the structure of the company. On that matter, there is already something but they need to be more precise, and it seems that they are currently in the process of clarifying everything. I don't think that the situation is that bad at the moment because they are a newborn company, and it needs to mature, to determine every individual's position in the company. It seems like Chittock's arrival is doing this, as he is reorganizing the roles, and making everything clearer for the general public. To my opinion the original team did not necessarily have the management skills and knowledge to drive their idea toward success, so the only smart move was to hire people who have those skills and knowledge, like they did with Pugh-Jones and Chittock.

Considering the actual adopters, to me it's not a surprise that they are all somehow connected to Lifelabs and it's founders. Think about it a second, you are putting up a new concept and a new company, based on the adoption of your product on a larger scale by other companies, so of course your first adopters will be close to you, if now within your relatives. You need to start at some point, there is no problem with that as long as the tokens are effectively used. I think the team should just communicate about it, to settle everything. The problem now is that some people think that they don't talk about it because they don't want the public to know. To my opinion they do not talk about it because it's obvious (Company House documents are accessible to everybody) and it's not really important as long as the token are going to be used.

The most annoying thing is people using the word SCAM over an over again, as soon as something is not going as fast as they hoped it would go or when they panic sold after the first dip. They do not realize the damage they do in their stupidity. First because they are damaging the online reputation of projects that might most of the time be absolutely legit, though not perfect, and second because at some point it will no longer have any effect on real scams that should be pointed out. You are right, nobody can know if it is a scam or not, but honestly, there are so many signs that show that it isn't one. I won't list them again because it has already been done multiple times in this thread. Considering this, everybody is free to believe or not, but at least be intellectually honest and if people don't believe then they should just sell and leave. If they persist with their arguments proven incorrect and not documented then it shows their insanity. Unfortunately most people being lazy and poorly educated (or blinded by the need of immediate profit) limit their research to the only reddit sub of forum posts, without even reading about the official project publications.

After that, not being a scam is not a guarantee of success, as you point it very right. I'm not a "believer" or a "LIFE is life" guy who will praise the coin like a religious cult. To me LIFE is nothing but an asset among others in my portfolio. I have my goal in value which I am conviced LIFE token can reach, but further than that I would be totally unable to forecast if the project will succeed on the long term or not. And honestly even though I wish success to the team for their work and efforts, I won't stress about what will happen after I reach my goal.

Eventually, the rules of the game are always the same. There is a high profit potential in LIFE, so risk is there too (even though I assess the risk as being far lower than the potential profit), one should just accept it and do his own research. If after researching one estimates the risk to be too high, then I wish he will be able to find a project that suits him better. Luckily there is plenty of choice out there.

 :(The card is unnecessary. another concept would be better, food, clothing, ecology, alternative energy, a patent, support for genetically pure seed production, Race without discrimination, HELP POOR, search and rescue, do something without losing your career. support comes. COMMUNICATION IS VERY IMPORTANT.
Where does the team work? Is there a report?

  Hi, here is a video on Life coin 2 26 2018 updates coming soon and possible interviews with some life team members....

https://youtu.be/oumbK834abE

I also would like an official response from the team to this.

I didn't have a chance to participate in the Q&A session. I went twitter but I am unable to see any comments, so my question is, was it enlightening regarding LIFE token's project? There isn't much on reddit about this, it's unbearable to see all the people invested in the FUD. They are giving the impression that the session was a failure and nothing was really answered. Any news about this?

Thank you for your comments. I am a Life Token believer from the beginning...and early member of the Telegram group....I can say there is no sign of this being anything but a legitimate company. team and token project...The WP and roadmap are all on the Life website along with the Life team's photos and positions for everyone to see...They have nothing to hide...We have a telegram group with over 3600 members and growing everyday...where there are active Life team members available 24/7....This a project with huge potential and only a few months old...so people have to understand that the project is in its early stages....

As far as the price fluctuations...they are mostly on Hitbtc...This is due to a couple of reasons....Hitbtc listed life with only 7 decimals rather than 8 decimals...Per Life team's agreement with Hitbtc..the lowest price for Life was to be 10 sats...The limitation of the price being 7 decimals only allows the next price increment to be 20 sats...and next price increment would then be 30 sats and so forth...Currently it has been fluctuating between 10 and 20 sats....To correct this issue....the Life team has asked Hitbtc to add the 8th decimal allowing the price to freely trade at any price...for example 11,12,13,14,15 sats....and so on...Hitbtc has finally started working on it...so it is currently in progress...Hitbtc has temporarly taken the Life token off the exchange to work on updating it...so no one should be alarmed...All your tokens are still there and safe...Adding the 8th decimal will allow the price to fluctuate more naturally, and help with breaking down the buy/sell walls that have been accumulating on Hitbtc...

Q&A was today Feb 23rd at 9:00 am central (Chicago Time in US)

Please go to their Twitter page where the Telegram group and Q&A links are posted

https://twitter.com/LIFElabsHQ

Thank you all for the detailed replies to people that would rather be right than to actually see what's the truth behind this project. What I still don't understand is the abrupt price fluctuations in the different markets, happening every day several times. I would appreciate some honest feedback on this. Also, does anyone now when will the Q&A session happen and when will we have news about it?
Many thanks, good luck to all investors, new and experienced.

Thank you ElectricFox and madpoet for your carefully considered replies. Electric, you are right of course that stockmarkets and crypto are not the same - the latter being unconstrained by regulation. However, while it may be true that no fiduciary obligation exists, I suppose I'm old fashioned enough (perhaps naive enough) to believe in honest and transparent transactions. In law the LIFE team has no responsibility, that's true. My point isn't about the extent to which LIFE team can or should mitigate buyers' losses because of a legal obligation. It is about their capacity and willingness to demonstrate transparency in their offer in order that those buyers can make a properly informed and risk weighted decision. LIFE's adopters, Tarian, Cryptosaurus and Money Mindful are new ventures established by individuals known to the LIFE team, some of whom were employees or directors of RP Assure. They have yet to present their first set of accounts. I am not saying LIFE is a scam. I can't KNOW that, but equally no one else can know that it is not. The word scam implies a clear intention to deceive and profiteer. That may be the case, but it might also come to pass  that the venture collapses as a result of nothing more sinister than incompetence. What I am suggesting is that, on the balance of probabilities, in my opinion the project is more likely to fail than succeed in the medium to longer term. If you cash out before then and make a packet, that's great. I'll be cheering you for having made the right judgement call at the right time.  The LIFE team are very keen on peppering their twitter posts with aphorisms from the likes of Napoleon Hill and Helen Keller. The latter was certainly a magnificently gifted human being, but also a deaf-blind one. So I would say to others, seek to emulate her intellectual rigour not her impairments when arriving at a judgement of this project.