Topic: [ANN - Pre-ICO] BlockPay - Zero Cost, digital currency Point-Of-Sale systems - page 20. (Read 44568 times)

Phase1:   600,000 tokens       @ 1:1.20 OPENPOS tokens/each   Special Buyback
Phase2:   1,400,000 tokens     @ 0.000288 BTC =  403.2  BTC 
Phase3:   3,000,000 tokens     @ 0.000360 BTC = 1,080    BTC
Phase4:   95,000,000 tokens (in 2017)   @ 0.000500 BTC = 47500 BTC

Total of 48,983 BTC (not including Phase 1) = $28,116,242

So, yes they are asking for well over the $20 Million dollars, my concerns are justified, rational and realistic. It is silly to tell me to buy T-notes or that I want my hand held, this is serious business. I expect serious answers. Why are people "buy in" with no agreement as to benefits or any legal action I can see to obtain benefits? Is this all hype?

You are being unrealistic. They are raising less than US$1.0-mil right now. At least they have a product, and a business plan. I'm grateful and excited for that. There are 'stocks' or shell companies that raise many times more on the sole prospect of buying out another company, i.e. they have neither a product nor a business plan. Like I said before, if you are uncomfortable with this level of risk, there are always T-notes. As an investor I don't want them babysitting or holding anybody's hand at this point. They've released a good deal of information, and need to be focused on building the business ...

I see your point, I should not expect too much given the extreme unknowns. Yet, they are asking for ALOT of faith that they will honor those who funded their hard work. With stocks you know the game and there are established rules. There are certain legal measures share holders can take if the management is not acting within the share holder interest. What I love about these is that I don't have to have millions just to participate in an ICO, but I also need to know where I stand when and IF this project makes it barely or makes it big. As of now they have no plan that they have made public other then vague "profit sharing" promises. That worries me. I am not one to call them scamers, I want to believe in them and help them, I just need to know what the plan is. If they are ready to ask for $20 million+ they should be ready to explain how they might distribute profit in an equitable manner should that ever arise.         

Serious answer here:  I think this venture is so speculative, it is all but impossible for the founding team to be laying that out at this stage. We just have to accept that it is an extremely speculative investment,  with no promises attached. Do they even have any revenues at this point? Any clear expectation of what revenues expectations are realistic? I don't see how they could ...


That aside, even Warren Buffett bet on penny stocks, even loaded up at times, when he was working with a very small bankroll. If you look at this as an extremely speculative penny stock, and then invest in a select basket of them, I'd think you would do fairly well. Too much digging into funnymentals could just get in the way of a sound investment strategy.

There needs to be some better discussion about investor benefits down the road. I agree with previous sentiment about lack of communication on this topic. If I buy this token, when and what % of returns can I expect proportional to my stake? I realize the investment may not pan out, that nobody can predict returns, yet if there are profits in the future when can we expect profit sharing and how much? 

So, after almost an hour of research this is the picture of the blockpay ICO I have so far... some prior ico token holders receive 50% of a .5% transaction fee on merchant sales, ambassadors receive 15%, leaving 35% for company expenses and blockpay token holders and token holders will be paid last in this hierarchy with no guarantee or even agreement that any percentage amount will be paid to blockpay token holders. This means any return on investment is up to the personal discretion of the management team, and they and everyone else get paid first. Tokens are not needed to power any app so their value is at the mercy of discretionary dev spending and 'rewards'. I don't see why an investor would make an investment in such a blind pledge without anything written or coded to offer any assurance of getting their money back plus. Titan20 has repeatedly asked for clarification on this and so far just a lot of 'trust us', it's a great idea. I don't dispute that your idea is great and your concepts might work, but I greatly question the risk/reward offered to token buyers with zero hard figures detailing the value proposition to token holders.

Edit: I believe I also picked up somewhere that this first batch of icos will only offer 6.5% of the total amount of tokens, meaning current investors are also subject to dilution risk down the road, the rate of which is also at mgt discretion?

OP,

I have some underwriting experience, IPO & secondaries, and can tell you this is insane:

Limited Amount! Great discounts available in this pre-ICO, all based on Opening rate of 2017 ICO

Phase1:   600,000 tokens   @ 1:1.20 OPENPOS tokens/each   Special Buyback
Phase2:   1,400,000 tokens   @ 0.000288 BTC tokens/each   42.40% Discount
Phase3:   3,000,000 tokens   @ 0.000360 BTC tokens/each   28% Discount
Phase4:   2nd ICO   @ 0.000500 BTC tokens/each   Initial Price


Here are the facts:

A. YOU don't know when the secondary will take place. Timing is contingent on future developments. Unless you are purporting to know the future, you don't know.

B. YOU DON't KNOW where any secondary offering will be priced. My best guess is that it is priced at some discount (10-30% ??) to the PREVAILING MARKET.  If the prevailing market is .0004 btc per, and you absolutely must raise cash, likely the new tokens will be offered at a significant discount to 0.0004. IF the prevailing market is closer to 0.01 btc per, your offer price will be much different, but again likely at some discount to market. It is absolutely insane for you to try and state where the market will be over the entirety of 2017. Think about it like this: Are we to assume you will work to suppress prices if they exceed 0.0005 by a wide margin?!? Your current statement appears to imply this.

Please stop referencing a specific time and price for any secondary - and just acknowledge it is all contingent.

That said, I am ALL IN with the few coins I've not already committed elsewhere. Hope to sign up to your sig campaign when it gets underway.

:-)

What does zero cost means? does it mean zero transaction cost or what?sorry for being posing a noob question

hello dev, sent pm.. pls read. thanks

Please take a look at the Slack when you have the chance. I want to make sure the rate on the email receipt is the final rate.

Same question here. How was this not communicated via the sale site? I send a bit ago and it still said Phase 2.

I would like to refund my BTC as I am not interested in Phase 3 price.

I checked the storage addresses before sending and they did not contain 400 BTC total.

Congratulations on the success, but at 36 I am not sure I want to purchase tokens.

Please pm me.

I also want to know what is the reason why you decide to pull "the realtime progress of token sold" down. Should we supposed to be transparency about this?

- Because OPENPOS tokens have been specially created for the BlockPay for Odoo 10 month ago.
- The BitShares Platform will immigrate the "dividend transaction" feature developed by the PeerPlays Platform: https://steemit.com/peerplays/@peerplays/how-does-the-profit-sharing-function-work . Sharedropping is done by a smart contract and costs less than a few cents to thousands of accounts. Truly amazing.
- The total amount of BlockPay tokens is capped with 100,000,000 Tokens.
- We will start with paying out BitUSD.


Hi animalraom, I published a short overview on our website with the current balances and wallets to watch. Please check https://blockpay.ch/newsroom/investor-relations/blockpay-reserves/


Hi davidjcambra,

the BlockPay tokens will be distributed at the end of phase 3. You will be able to trade on OpenLedger first, more exchanges will be added over time. We have to come to an agreement that the centralized exchanges pay the profits forward.

according to your estimate phase 2 cost 0.000288 BTC  but when i go to the website for ico ,it shows 0.000360 BTC, so phase 2 already over?