this method of ipo is risky maan. the first investors take a gamble that there will be fewer people investing but as time closes more people may just come and invest. then if the early guys thinks price is too much they will sell and may send panic. dev should have priced the coin according to how much btc he needs to develop the coin. can't see myself investing here
We appreciate your opinion, but we firmly disagree.
Did you happen to see Via?
Over 600btc raised and it had exactly the same style ICO as GreenBacks. Pre-sale price ended up being ~6000sats per coin, and within 24 hours the price of Via had reached 40000sats. A week later the price of VIA had gotten up to 70000sats. This is just an example, but this form of ICO is actually much more profitable if all you're looking to do is trade.
Most normal ICOs get dumped on immediately because creators price their coin too high, that does not happen here. If a ton of BTC is raised, like VIA, then when the markets launch, the price of the coin will most likely go up significantly due to the momentum the final days bring. If a smaller amount of btc is raised, then the coin has a smaller buy-in price, and has even more room to grow, it may just take longer to grow. Either way this type of ICO has much better results than others.
We prefer the idea of letting investors decide what the price of the coin should be. We believe that demand should determine the price, and how widespread distribution is.
