Topic: [ANN]ChronoLogic - Proof-of-Time token on Ethereum - page 16. (Read 45343 times)

I don't know.. the lady with the glasses and serious look drawing on the board is what made me buy in.. there's just something about that.. anyone else can relate? As for the project.. An Alarm Clock is all there is to show? Hmm.

Well all i can say about this project atm is forget about it. Do things and see what happens in a year... Maybe what they are planning is actually great. Just forget about the token atm...

But i understand its very hard for the people who invested alot into this...

As I've been warning you gentlemen throughout the ICO process, these Chrono guys are either outright criminals or grossly incompetent at best... Rules changed pre-ICO, during the ICO, even post-ICO, a lot of people sent ETH to these guys to end up getting absolute nil right from the start.

Only a lunatic would trust these guys, I wouldn't let the Chrono clowns even sell me a piece of gum, that's how ludicrous this team is. If you want reliable projects with top class talent, follow me @feroxadvisors on twitter for all Crypto Trading and ICO related reco's.

Good Luck

I think the best way is to continue to hold it. actually it's worth nothing and the volume is verry low because most of ICO investorst are just holding to get more coins. After the minting period of 1year the minting power will lower and more ppl will trade it. The actual price means nothing because of it imo

bottom line - you could almost throw a dart randomly at the top 100 coins at the time of Chronologic ICO and make a ton of money.

as for Chronologic:

At the time of release I see 1 ETH = 24 DAY

At this time, 1 ETH = $1068 (per CMC) and 1 DAY = $2.54

Let us now compare the difference using the above figures: At ICO- 1 DAY = 0.041667 ETH

Now: 1 DAY = 0.002378

So, the difference in price is 0.041667/0.002378, ie 17.5x

Ie, by this calculation, worth of 1 DAY is just 1/17.5, which is just 0.057% of the price at ICO, if instead of buying DAY, ETH was simply hold'ld.

 

People WHO Invested in this chronologic project have been so frustrated with current situatio,n. Limited discussions from project developers, very low volume, price plunges and features or Usages not yet released contrary to what was advertised.

There is no real use for the token. The Timemints are useless after 2 years. I don't think they can do anything to bring the price to a level above ICO.

The big question is does it have a future for the investors that still holds a bag of this token, will it ever go back to ICO price? they have done webinars and some good updates but the price never even move.

this

and - if tokens are sold, if I understand this, the mint proportionately makes less. This must really stink for time mint holders if true - if they sell all their coin the mint is worthless as it supposedly stops minting.

there is no incentive to sell from this perspective and given the illiquidity, what would be the incentive to purchase?

it seems even worse - if it takes 8888 tokens to sell a time mint, where on earth do you get that amount? Worse, then assuming you get the lot, who are you going to sell it to?

 

they took your money and went on a holiday tour of Brazil, complete with hookers and blow.

 

The highest minting rate is 1% a day, so it makes no sense to dump all your coins and crash the price if you are minting.

Im pretty sure it's ppl with time mints who are minting free coins on a daily basis.

I've read that due to low numbers of bounty campaign participants, some people ended up with tokens worth 5-7 ETH. It is very natural that they dumped them as soon as possible.

I was also baffled who in the right mind will dump a token that he bought at $24 a piece, the current price now is $2.73 did the investors just committed a financial suicide of their own volition.

so, assuming that addresses represent unique entities, then roughly 20 entities are in a position to sell off their TM or very close to it

I guess the big question is why this was dumped so hard and who did the dumping - was it simply a case of illiquidity driving the price down?

answer may well be resolvable in further analysis of the 9000 or so transactions so far

as DAY is an ERC20 token, transactions can be seen as follows:
https://etherscan.io/token/0xE814aeE960a85208C3dB542C53E7D4a6C8D5f60F

If you don't want to click the link, in a nutshell, there are 3254 addresses of which there are to date 9288 transfers.

If you accept that it requires 8888 DAY to sell a timemint, then sorting by holder there are just 18 that have 8888 or over and two more addresses in close striking distance.

There are just about 50 address with above 5000 DAY as of this time.

The top 150 accounts have above 1000 DAY

The Top 100 holders collectively own 87.80% (740,370.73 Tokens) of DAY

Tokens Total Supply: 843,212.06

go to coinmarketcap, look at the graph. About $2.50, down from 10 dollars at launch.

then, go to the markets tab. There is only a tad over $1500 of DAY traded for the last 24 hours. I reckon I could set up a shitcoin and get a better 24 hour trade than that! 

Here's my opinion:

The time mints were set up in such a way that buyers are stuck with them unless stuffing them with an impossibly high number of DAY tokens, which cannot be bought on market for almost any price. Also, if the day tokens are sold, less will be minted next time round.

What that means is it is in reality extremely hard to impossible to sell the time mint, the time mint becomes worthless if the DAY tokens are sold on market and the DAY tokens already are circa 75% down in value from first minting.

To me, it looks like this was designed to be difficult to exit I (at least the time mint), with no reward for investors evident, or do I have this wrong?

There is also no use case on offer at this time to my understanding, other than what suspiciously looks like a future intent to use them to loan out to "businesses"

Worse, there is almost no retail market for DAY at this time, almost illiquid on Etherdelta. Coinmarket cap has just livecoin and ED trading it, with about $1500 worth traded in the last 24 hours. Yes, you read that right!  

Even worse still, from what I can see, Etherdelta was sold to a bunch of Chinese recently and the site was compromised right around the transfer time of the business, ending in people being phished and losing their coins. That's where the bulk of the tiny volume of trade takes place as of the moment from what I can see.

I am not sure what the future holds for DAY holders. I hope for all who ploughed in some ETH there will be a big turnaround for the better.

Someone called me out for a "fuddy" comment. I can only say, what part of about 75 percent loss is fear, uncertainty or doubt? It's a bald fact.

This is a very slow moving project. They got all the money they wanted and they are just desperate to turn their nonsense into a useful product.

Ok great, you have a token with a timestamp, now what? You would think the dev's were claiming they had 'solved time' by the video. WTF are day tokens worth?

How do these idiots not have a Twitter page...or am I the idiot who can't find it?