This is not a ICO or a investment opportunity. Its simply a swap.
I'm fine calling this an ICO. No one really knows what an ICO is. This is all seems a bit like some virtual reality game of trading coins and powering up coins with abilities.
Greg Meredith is asking people to send him AMP coins. He will then take all the coins and send you back a new coin with the powers he gives it. To me that sounds exactly like what everyone else is doing and calling an ICO.
My ICO will take BTC and probably other coins. I'll then send people back the new coins that have the special powers that I give to them.
Both things looks the same to me. Maybe there's a difference because he's only using AMP coins in his thing that he's calling a "swap".
Its not an ICO. You can read the terms and conditions document. You need to clarifiy "What power Greg will give these coins" because your statements are unwinding very fast my friend and its very hard to follow you.
This is a swap. This is the first swap I have ever seen between the Omni Layer to Ethereum. BTC/Ethereum is not involved in this process.
https://docs.google.com/document/d/1pZZ6LYpZVPsRbpqmtDp5rUWUIlrzNrn_Tec6EbAlgZ0/edit?usp=sharing1.1. Promotional Credits may be used only to 1) redeem in exchange for the RChain software access protocol tokens on the RChain network; or 2) redeem for software services directly from LivelyGig, Inc. dba “RChain Holding Company” and/or dba “RChain Incubator”, or its affiliate software service providers, which expressly elect and offer to accept Promotional Credits in return for providing software services early, or at a discounted price, or both (“Early Access”), in anticipation of redeeming Promotional Credits for software access protocol tokens on RChain (“collectively, Eligible Services”). No software service provider shall be required to accept Promotional Credits, and no guarantee is made that any software service provider will elect to accept Promotional Credits for Early Access to their services.
This coin will be used as credit for a swap at a later date to the actual rchain platform. Its giving AMP holders a chance to swap over to a Rchain if they invested in the Rchain vision during the crowdsale.
This is an ICO, why are you not given the tokens out free of charge, even some ICOs do give out their tokens free of charge like the just concluded Byteball and the developers will now hold the remaining tokens and centralise it the way Steemit developers did with their project.
I believe if the ICO thing will work and be sustainable in long term, it needs real restructuring because alot of people are taking advantage of people.