Guys, let's forget about tokens, bounties etc. But think about project business sustainability, team, and even quality of whitepaper.
1) The paper starts with the quotation "Sometimes the biggest risk is not taking any" and Luxcess founder signed it. This is a well-known quotation of Mark Zukerberg (except one word "sometimes"). It's very unethical to put your signature on the other people words.
2) English is used to be the international language in the world of finance. There is a lot of evidence of very poor English in the paper and website. Very strange for a serious project to stretch a dollar for an editor. It's not much expensive believe me:)
3) I couldn't find Luxcess website related to its ongoing operations. Not ICO related site. How can they prove their performance and even existence of the team from 2014? Just saying " In the first half of the year 2014, we started connecting people with the same thinking and interests". It looks like they didn't exist before 2017. Thus the historical performance is a questionable point. Hope Luxcess have an answer.
4) The is no info related to the market for the services, 'competition, at least basic financial projections etc.
5) Let's discuss the figure on page 35, where Luxcess describes the flow of Investors funds. You invest 15 000, 60% goes to the project, the rest 6000 becomes your portfolio. They earn some money for your portfolio and at the end of the month, they take 50% of your profit. This is a fee! And by the way extremely high for forex and even cryptocurrency asset management. Why should I invest with you? Only to get advantages of your platform and trade your coin on it? Otherwise, I can take the whole 15 000 and give them to another forex or crypto broken for a much lower fee. Luxcess doesn't offer any unique trading strategy or returns to pay such a high "entrance fee" to them.
6) Luxcess offers to trade its coins on the platform. In case of withdrawal, they take 30% of your profit. No matter how Luxcess calls it. Guys, in the real financial world, it's called performance fee (also relatively high)
Questions to the team:
1) You are welcome to comment on the above-stated points.
2) How much are you going to charge your non-ICO clients?
3) Page 37 of the paper - could you please, clarify the table? What do these yields mean? For which period - 2017 or 2016+2017? Is it average or something else? Not clear....
4) Who are the main competitors for your business? Please, list 2-3 names.
Nice points you've brought up, however I think you will get a quick reply on their telegram group the admins are very active.
https://t.me/LuxcessCHATFrankly speaking, I don't need their answers:) From my point of view, the situation is more than clear. Just want to help others to make the right decision.
I find that odd or do you have another agenda to tarnish the project?, for a constructive critic, you should wait and get answers from the Luxcess team, you seem to have made your conclusion before coming here, your statement just turned me off and has given me a solid reason to believe that you're here for your own personal reason, like a personal vendetta
I agree with Ace on this, in as much as the points you've brought up are valid, i think you have a different purpose for posting this. Nonetheless i think the Luxcess team needs to issue a reply regarding the points brought up.
They already answered above, you can see.
2) English is used to be the international language in the world of finance. There is a lot of evidence of very poor English in the paper and website. Very strange for a serious project to stretch a dollar for an editor. It's not much expensive believe me:)
We are sorry for any mistakes, as we are not native speakers we hired a translator and an editor. in the first edition there were some mistakes so we hired another two later, but it looks like they didn’t do their job as good as they should. Again we are sorry for any mistakes.
3) I couldn't find Luxcess website related to its ongoing operations. Not ICO related site. How can they prove their performance and even existence of the team from 2014? Just saying " In the first half of the year 2014, we started connecting people with the same thinking and interests". It looks like they didn't exist before 2017. Thus the historical performance is a questionable point. Hope Luxcess have an answer.
We were different company (Take Profit Academy) before we started with luxcess project. We started in 2014 and worked for ourselves and teach other people, and then in 2017 we started the luxcess project.
4) The is no info related to the market for the services, 'competition, at least basic financial projections etc.
We don’t actually have direct competition because we actually trade, and not just invest and wait for the growth of other tokens. And because we have very low marketcap we expect big growth od our token.
5) Let's discuss the figure on page 35, where Luxcess describes the flow of Investors funds. You invest 15 000, 60% goes to the project, the rest 6000 becomes your portfolio. They earn some money for your portfolio and at the end of the month, they take 50% of your profit.
This is a fee! And by the way extremely high for forex and even cryptocurrency asset management. Why should I invest with you? Only to get advantages of your platform and trade your coin on it? Otherwise, I can take the whole 15 000 and give them to another forex or crypto broken for a much lower fee. Luxcess doesn't offer any unique trading strategy or returns to pay such a high "entrance fee" to them.
The profit making for participants is just added bonus for you guys. So for the inital investment of lets say 15000$, you get 100.000 LXC tokens. 60% of your investment goes to finance the development, marketing, legal and the operation itself. The other 40% goes to our portfolio and with our profit we will use 50% to buyback and burn our tokens snd that will ensure steady token growth, other 50% of made profit will go to our group for financing the project itself.
6) Luxcess offers to trade its coins on the platform. In case of withdrawal, they take 30% of your profit. No matter how Luxcess calls it. Guys, in the real financial world, it's called performance fee (also relatively high)
Well as said before the profit making is a bonus beside getting our coin, and as we haven’t got any other fees (in, out, etc..) we decided to make just a profit share with participants.
Questions to the team:
1) You are welcome to comment on the above-stated points.
2) How much are you going to charge your non-ICO clients?
There won’t be any extra charging for the non ICO participants.
3) Page 37 of the paper - could you please, clarify the table? What do these yields mean? For which period - 2017 or 2016+2017? Is it average or something else? Not clear....
Can you please state which table is confusing to you, because on page 37 there is no yield table.
4) Who are the main competitors for your business? Please, list 2-3 names.
Competitors with similar products are for example Iconomi and Blackmoon.
It seems to me that we speak different languages. Thanks for answers.
P.S. Relating yield - I mistyped, table on pg 27.
