Breakout Coin Genesis Sale
Price:
1 bitcoin buys 3,000 BRO
Thats much less than the initial price.
How much has been collected in the IPo till now?
274,89 btc
as seen here :
https://www.breakoutcoin.com/This is an interesting one. BRO has a very professional team and the bios of the team indicates a very well organized, serious operation. The team is OK. The use case is wonderful, an investor dream: gambling, the venture can not be unprofitable. So the market is OK as well. Still, following weeks of promotion the IPO is at the relatively low 274 BTC.
That indicates me two things:
1) If a great project like BRO can get only 274 BTC (which probably includes some money from BRO as well, but that's OK, some small push is part of the game) then the money is dried out from the altcoin market
2) ICOs like the 3000 BTC BitBay money gatherings are pure scam, in which the ICO organizer buys large part of the coins and hype the project. In this depressed market, anything that more than what BRO gets simply can not be real.
I understand this thread is not here to talk about other operations nor wondering about what scammers do, but I thought it is important to give credit for the very few projects like BRO which seems a genuine operation and not a scam.
Ill agree there is a real operation(Not a scam) behind this with celebs and everything BUT , u have to agree they made a total mess of this ICO from changing just about everything in the middle of the ICO to this completly squewed selling structure they have now.
I still dont know what will happen to the coins left over,people are saying Second ICO to sell the rest without bergstake but they just dont know.
What does not come of looking professional to me at all.(Dont get me wrong ,I still believe there is a Pro team behind this operation just not "pro"in crypto and its community) and thats a big part of why their falling so short of their ICO goal IMO.
I think they should have spend an extra couple of K to rent a dev from DRK or VTC (or some other well established coin) to help them before they started.
I dont like repeating myself but where is the value add in the past month that makes 6500 to 3000 realistic ?
In the current struckture they have created , it actually motivates people that have bought in to not have anyone oneelse buy in.
Angel investors will make up the missing money EA the less bergstake is sold the bigger your piece will be.
Im just befuddled why they would do it like this.
If this contains factual errors (not spelling ones) please enlighten me.
The problem here, as usual in this type of thing, is trying to please everyone. Which is simply well-intentioned... but ultimately just dumb. No one in its sane mind, when dealing with any kind of business plan, would ever listen to people who still live in their parents garages at 30, that are high on bad stuff most of the time and that see in crypto some kind of anarchistic release of their many failures... The BRO team had a relatively good, thought-out plan: Sell the project and let the market price it. Only flaw in that plan, of high significance, was trying to sell simply an idea, lacking even the most minimal platform to show what they were capable of. That flaw remains and would haunt any selling initiative, of course, but keeping the original plan -which is inevitable, by the way- would at least have reassured customers -buyers- of what exactly they were buying.
As it stands, it would seem that Breakout Gaming will "buy with one hand and pay with the other" -meaning instamining the whole thing and getting over 90% of the coin for free-. And, obviously, people is not thrilled.
In 3 more days we will be quite [possible at the doom, rather than the dawn, of what potentially would have been the smartest crypto project to date. Instead, it could quite possible become a total mess.
Breakout Gaming is clearly well funded already, and IMO the point of this ICO is not to scoop money from investors but rather to ensure a wide distribution to secure the PoB network, which can't be done by seeking funds from a couple of angel investors. (The wider the distribution, the more secure the PoS networks)
Devs said previously that Breakout Games are in
"final stages of completion", so they're certainly not waiting on ICO funds to launch this project:
The Digital Hub for Breakout Gaming is already in full production and in the final stages of completion. The games are being tweaked and loaded onto servers for testing and making necessary changes. From there we will concentrate on Security, Anti-fraud and Anti-collusion. Those who participated in the Breakout Coin "coin sale" will have early access to demo and provide feedback. We are working diligently to make sure that the software is available as soon as possible, but will not sacrifice security in efforts to release software sooner.
As I said before, the remainder of unsold BRO, should either be:
1. Offered through 4-5 day coin sale on BTER or BITTREX, (even without Bergstake)
OR
2. Destroyed and removed from the Max Supply of 19.5M
Either way, the official launch shouldn't happen until some of Breakout Games are released (at least in beta) and tons of marketing is done to ensure a wide media coverage.