These aren't cryptocurrency guys, they're blue chip, professional silicon valley types. I'm sure to them it was longer term proposition. Mass adoption or not. That's the bet. None of these types of investors were looking for a quick out at Bittrex. To sit and trade a few grand a day on Cryptsy, come on... They don't have time for that, or would never have invested in such a small idea with such minuscule upside. They must have seen the opportunity for mass adoption, taken a calculated risk and that's what their bet is. If neucoin gets millions of users and an upward growth curve of mainstream users and integrated with more and more games etc, if that happens they will make 100X or 1000X their money. If it doesn't they won't make anything. Daytrading coins at this level to make 10 grand become 20 isn't what guys like that do.
See, I can understand that the names behind it are impressive to you and some others. But either way: Something is wrong with that. Most probably they did not understand and anticipate that there wouldn't be millions of excited people to buy this. It's obvious that the ICO failed... They had to buy it themselves. If it would have been a real crowdsale there would be thousands of addresses, not just 100 addresses with 99,99% of the total supply. And the official forum... there would be a lot of action and not just 10 posts every day.
And... those guys would tweet about it, right? They would make marketing for it, because they believe in it. What I believe is: They really believed in it 6-8 months ago, because they don't know much about Crypto and they didn't care enough about some little details like the 200% of market inflation every month. They believe 100% inflation a year in total, and that's stupid enough.
But it's all about the market and if on the market are just 100 Mio and the 2,9 billions are staking in the back... it's in fact 200% for the market every month (in fact it's more).
And yes, they could hold it instead of dump it if they don't want to damage the price. But what will they do with that? They say they will just sell 2% every month. But first you have to believe that and I don't see any reason to trust them. Second: Even those 2% are enough to damage the price.
And, funny: How will they do that? Will they make a race who is first on the market with his 2% to dump? They make each others to enemies on the market. Or maybe they don't care about money? It's just to bring it to mass-adoption?
That won't happen!
So we agree on "different" hahaha, fair enough
Yes, we'll find some more points we agree ;-)
But come on now, off course it's better! Paranoid fud about "scam scam scam" all over the place is just a little silly.
Under the line I really don't care if this is a planned scam or not. Maybe you're right. Maybe they had the plan to establish something big, a plan to let it seem big to start something like a self fulfilling prophecy.
And I tell you: If that was the plan they had a really bad timing. Because that was the paycoin-strategy. At the same time Neucoin made his first public moves, Paycoin escalated... take a look at the chart how it turned out:
https://bitcoinwisdom.com/markets/bittrex/xpybtc (1d or 3d)
There were tenthousands who bought the Paycoin-Shit and lost a lot of money. Now there are SEC-investigations and Garza is on the flight.
What that means: All those, who maybe would've been impressed by Neucoin, got burned in Paycoin.
It just doesn't make sense. No sane person believes it.
That's another point we agree. Because I agree with you that it's really hard to believe. I just see the facts... and yes, I can't believe what I see and I can't believe that mentally healthy people developed this over a year, planned a strategy like 100% inflation in total per year, but 200% for the market every month, staking tons of Coins to make the supply worthless which is owned by the real Community. And again: That are much less people as you maybe believe.
But, tell me: Where are the heads behind it now? Shouldn't they answer some serious questions?
And it clouds a more constructive debate about the actual project, inflation and user adoption etc all the stuff that's really interesting. Whether it works or it doesn't it's an interesting approach and it's targeting new segments. It isn't until we see more consumer applications and partnerships launched that we will know if it will fly or not.
Yes, you're right. If a project is legit and honest and with high quality regarding the tech and the strategy behind, people should talk about it. But no project is really bulletproof. The best project has some weak points and it needs discussions about it as well... to make it better.
And if we look at this project, we could say: To help with it, we discuss some of the points that seem weak. And everybody who bought this or is thinking about if he should buy.... can read it and come to his conclusion.
Okay... let's think about it. They say:
"To optimize for growth and adoption, a large share of the foundations’ endowment will be given to consumers in exchange for engaging with, trying out, and referring friends to NeuCoin. Another large block will be awarded to companies that help NeuCoin grow its user base and become more useful: game publishers and content providers that accept microtransactions with NeuCoin tokens, exchanges, wallets, consumer mining services, payment processors, remittance services, discounted group shopping services, marketing and distribution partners and other key services to NeuCoin users. Finally, some will be sold, with proceeds used by the foundations to increase the value of NeuCoin through consumer marketing, utility development, and core coin development."They will give large shares to consumers, exchanges, companies - all in exchange for engagement. Under the line that's the whole plan.
But let's do some math again:
100 Mio on the free market.
2.9 billion in the background (in fact there are already 3,054,905,895 in total which means: 55 mio new Coins since a few days).
Now they give away those 55 Mio new Coins for free...
1. why the hell did anybody buy the ICO if you can have it for free?
2. who wants it and what has he to do for it?
3. what will be the reaction of the market if they give away just 55 mio? That's a 55% inflation for the market right now.
They stake this shit out of nothing! More than 200 Mio new Coins every month! They won't get it away without bringing the price near to zero.
So they can't do that, right? They can't give away just 55 Mio Coins without damaging the price. And if the price will drop this project is done because of the price. So they have to hold it. But nobody will buy it if it's just a matter of time if you can get it for free and it reaches the market.
And let's think about the possibility that somebody like me could believe that this could be big some day: I would never trust the people behind this. I would never trust "non-profit-foundations". There is nothing like "non-profit" in Crypto. Some day there would be a 10,000%inflation at one day and my investment would be smoke.
I'm not here to spread FUD... and really, I'm always thinking I must be wrong and that this can't be really the result. But until now there are no different numbers and no answers of the masterminds behind this. I mean, they should explain it... not to me. I did not buy. They should explain it to you and those who bought into the ICO.
