You are joking about the credibility right? Again just because you did not get in does not mean it was "unfair". Secondly, those were RECOMMENDATIONS not guarantees that you would get in. Imagine there are 300-500k worth of ETH trying to get in on 100k ETH. Some people will not get in, and some people will be upset. Stop trying to discredit a good project just because you did not get in. Nothing worse than somebody being salty and then because of it, then making that a reason for why this project is not credible. Please apply logic and do not attack other people for your misdoings. There is no reason for that. Learn and move on please
Hey. I am not trying to discredit anyone, I am pointing out the fact that the team knew that there was more demand than there was supply. And yet they didn't deem pertinent to implement any mechanism to mitigate the high influx of transactions. The result is that a large number of people who came properly prepared and didn't waste a second were still subject to the contingent while waisting money for a useless and costly transaction. That doesn't even account for the high proportion of potential participants who had other obligations at the moment the ICO opened.
Imagine a democracy where you could only vote in a one minute window regardless of your obligations, and there was a smaller amount of votes available than there are voters. And an individual can cast an unlimited amount of votes. And even if you manage to cast a vote in time, your vote risks not even being counted. Kind of a bitter democracy isn't it? But hey, "nothing worse than somebody being salty because of it" right?
I missed out on the Civic ICO. I managed to get in line and was cut short just before it was my turn. I was in a line, investments were capped to 500$ per participant. "The early bird gets the worm" I was told. Frustrating but fair. I am also thinking of the upcoming EOS ICO where the amount per participant will be capped and investments will be spread out over weeks to give a fair chance for everyone to get in. So yeah. I still think that the team was negligent of the fact that there was way more demand than there was supply. To me that should be a big red flag for any company.
I know this ICO will bring big ROI for all participants but this greatly reduces my long term trust for tenX.
The team only needed 100,000 ETH, this is not a democracy this is a FREE FOR ALL. ETHereum network is the only mechanism they needed for funding. Anyone could get in, anyone had their chances.
