Hi community,
On June 15, 2017 SONM's ICO started. As a pre-ICO investor I was promised to receive a 100% bonus compared to the ICO investors in ETH:
The pre-ICO white paper agreed on the following:
Pre-ICO investors: 1 ETH = 1212 SONM (translated from 606 SPT to 1212 SONM)
ICO investors: 1 ETH = 606 SONM
--> I.e. Double for pre-ICO in ETH-terms.
The contract/agreement has now changed to:
Pre-ICO investors: 1 ETH = 2424
ICO investors: 1 ETH = 2824
--> pre-ICO investors get less than ICO investors!!!
This is not correct: pre-ICO should get the 100% bonus, which is 1 ETH = 5648 (=2x 2824).
The pre-ico agreement was on ETH (old white paper). Before the ICO SONM suddenly changed the terms and started talking about Fiat currencies. Since they based the Pre-ICO agreement on ETH, they cannot now change it to USD: example: I cannot pay a client his money back in Turkish Lira, if he gave me US dollars (if Did not agree earlier on that). Neither can Bill Gates by his Microsoft shares back that were worth USD 0.10 back in 1990.
Only because ETH surged in the past few months, it is not a valid reason to change contract terms. If I had not invested in SONM, I would get more SONM with my ETH now then as a pre-ICO investor. Pre-ICO investors take on risk, which they should be compensated for. Further had I kept my ETH, it would be more worth now. Currently I find myself having taking more risk (because SONM is definitely riskier than keeping my ETH) and getting less back.
This behaviour is a huge damage to the crypto currency community that is based on trust and team work. If crowdfunding is done cheating like SONM, this whole new funding concept will die. I believe in the potential of crypto currencies and met a lot of extremely interesting people, who became friends. I do not want my opinion to change because of this. But it is exactly this type of behaviour that makes people distrust this new open world.
I am trying to team up with other pre-ICO investors, to take legal action against SONM. We might not stop SONM in Russia, but in Europe we can stop them. I am resident in Switzerland. Ideally we would have some US pre-ico investors (SEC is very powerful).
Please drop me a message with your email and a short summary of what happened to you during the pre-ico.
Kind regards,
Johnymett
Oh my...
You've paid 50 USD to get 2424 SNM, the ICO investors paid 400 USD to get 2824 SNM, so no you've paid much less. And no, you are not taking more risk. Paying less means less risk, buddy.
And the rest of your point is entirely based on the lousy assumptions "if i had kept my ETH, blah blah blah". If everyone were keeping their bitcoins from 5 years ago there would be a lot more millionaires, but in reality most of the people sold them much cheaper. So at the end you profited because you were not able to sell you ETH cheaper.
So just get you refund and put your gains somewhere else. In a bank for example. The crypto currency community doesn't need people like you.
Wow, I was going to craft up a good response...
But you hit it on the head.
'The crypto community doesn't need you'
Yup, exactly!
and use a little math
