Topic: [ANN][INCNT] Incent Loyalty | Waves Token | Traded on Bittrex - page 74. (Read 491330 times)

We are definitely not a scam.

Please, send me your ICO e-mail address and the amount of Incent we owe you. It will be taken care of.

I'll also be honest I feel like this was a scam coin. I invested in the ICO but even today I still have not received my tokens even though I've posted a WAVES address as advised. Today I see the ICO site is no longer available on the Incent site, you have not paid out all tokens but you have taken the site down. This makes no sense

This reply was for two of your posts. Regardless, see the response above from Rob.

I think you're misunderstanding me. I'm talking about the ICO platform. I'm quite familiar with the long term vision of Incent and it's one of the reasons I put a decent amount into the ICO. I really don't even care about the current price.

I'm specifically talking about the quality of the software provided to do the ICO and the poor support Peter provided during the Tokes ICO. You contracted to provide an ICO platform that worked and almost nothing did. Look at the backscroll in the Tokes Slack, I'd be happy to provide the logs of my my less than useful chats with Peter. To say you met your obligations is an overstatement. I work in enterprise software and if we even screwed up even 10% of what you did, we'd have the whole engineering team living with the customer till it was right.

Don't take on projects you don't have time to do right.

This article seemed to be positive that the ETF will pass based on two things
https://www.cryptocoinsnews.com/bitcoin-etf-headed-default-approval/

1. The application would be retracted by now for reconsideration if it looked like it was going to be turned down 2. If no decision is reached by the deadline it is automatically approved - like a default setting. Having said that it goes against what mainstream fintech press is saying is likely.

So approved or not? As far as we know, there is still nothing decided and most likely ETF will not approve. Do you have any data that this happened?

Michael,

To be clear, the very first time you expressed any discontent to me whatsoever, with either our product or our support was yesterday, during a call in which you asked that we accept settlement in Tokes 'because you hadn't raised what you had hoped'. The inference being that we should share the impact of an aspect of your ICO for which we had no responsibility.

Settlement in Tokes is not acceptable to me because it is not what we agreed in our MOA - since which we have enabled your ICO with IP, server and technical support, to the best of our ability, over an extended period, in the best of faith.

Since you are not, after the fact, prepared to settle on what we agreed, I am not happy to continue to expend our finite resources in supporting you. This should not surprise you.

Notwithstanding, if I understand your post correctly, you now intend to re-issue the Tokes asset from scratch. This strikes me as nuts and doing so will distract your team and burn your community.

While I have my own view on your behaviour in this matter, I'm entirely happy to forward all remaining Tokes to an address of your nomination.

Sincerely,

Rob W.

the 'problem' in our case will be if BTC goes up tooooo much because the alcoins will drooooop down, more. can't wait to see the WAVES echanger 

Hello everyone,

It saddens me that I'm here posting this reply. For those of you who don't know me, I'm Michael Wagner, founder of the Tokes Platform. I would have preferred for Rob and I to navigate this conversation privately, but as the Incent team has announced a 'discontinuation of support' for our ICO distribution, I'm compelled to provide a response.

For some background, the terms of our MOA included a 5BTC deposit up front, 5BTC closing payment, and 2% of total funds raised as a share of revenue. In return, we were to receive a functional investment management backend portal along with a component of technical support for our users. We made payments on the initial deposit, as well as an interim payment based on funds raised (~1.8BTC). If you were a participant in our ICO, you can attest to the fact that the execution of distribution of tokes proceeds left a lot to be desired, and in fact was never officially completed. Our ICO closed on January 15th, and our investors are still waiting on distributions to be processed by their team.


For additional context, this is the email message I sent to Rob and Peter following our call earlier in the evening. Please note that this went out at 8:05PM PST, and the 'discontinuation of support' post was released in the early hours of the morning, without having any additional communication with me.


While I made an appeal to them regarding the payment amount to them proportional to funds raised, this is not about us 'not raising enough money'. This is about inadequate execution of their side of the agreement.


An earlier attempt to communicate with Incent at the beginning of February:



In essence, we paid for a product we thought was robust and complete from individuals we felt were professional. What we received was complete garbage. It would be irresponsible from both a company perspective, and in considering the impact on our investors, for me to relegate additional funds from our operating capital to pay a non-performing contract. I would caution anyone considering the use of Incent ICO technology to strongly reconsider the other options currently available in the ecosystem. If the Tokes team did anything wrong, it was engaging with Incent on this feature.


Given the fact that we are terminating our relationship with Incent, I don't feel that the Incent ANN thread is the most appropriate channel to continue this conversation. If you were a Tokes investor, or have interest in our project, I encourage you to join us in slack (you can register at: https://tokes-slack.herokuapp.com/ and join us at http://tokesplatform.slack.com).


For those who invested in Tokes Platform, know that we will be making you whole through the issuance of a new asset on Waves, with the name Tokes, but under a new asset ID. Any exchange listings will be based on that new asset ID. The members in our slack channel have requested that the initial 1% Incent bonus that was offered be replaced with a 1% Tokes bonus, which we will honor. Feel free to reach me direct at [email protected]. Bear in mind that we might be inundated with emails initially, so please bear with me on response time. I'll begin processing the replacement asset today.

they wan't pay


Its really frustrating for me. Why not try reasoning with this very first partnered with Incent project?

Incidentally, for those traders who haven't been keeping an eye on such things, the decision on the first bitcoin ETF is due by Saturday at the latest. That will inevitably have an impact on bitcoin prices, and alts by implication.
Goodness knows which way it will go, but I'd expect volatility in both BTC and alts/Incent to result whatever happens.

Hi Papa Di,
I think you may have misunderstood. We are spending money where we need to: on developing the app/tech, on business development, on compliance - basically on all the things we need to make sure happen to launch a viable product that operates within the current regulatory structure. What we cannot afford to do is spend funds where we do not need to. Everything at this point goes behind launching a successful consumer app. Everything else comes from that. Get it wrong and we're dead in the water before we start. Get it right and the sky is the limit.

You're right that bitcoin's volatility is a risk assumed by the investor. That is the case with any investment, of course - that the currency in which you invest (i.e. that you sell for the asset purchased) rises in value. If bitcoin had fallen in value, likely Incent would have risen against BTC, as is the case with just about any alt under those circumstances. This is just a given in the crypto economy. It is unavoidable and it affects every ICO and crypto project to some extent.

Bottom line, we're not launched with Merchant 1 yet. We need to be on exchanges ahead of that. The price you see there isn't realistic - it wouldn't be possible to cash out large amounts anyway, as there simply isn't the liquidity. (One of the things we discussed at length in Sydney was our marketmaking strategy, and how we will add depth to the order books. This will allow merchants and traders to buy in/cash out with lower slippage, and will benefit everyone.) We're not at go-live yet, so the sorts of criticisms you're making of us just don't stack up. We're doing what we need to and what we said we would, within the schedule laid out.

You see? You told the real state of affairs. This is your strategy .... You do not want to spend money until there is real income from the project. More precisely, while the current income from the project is not used to the current expense for its development. That is, you do not plan to really invest in promotion until you are sure that the project is profitable. But tell me, why then go to the stock exchange with a pacifier ??
 Do you understand that you are misleading people? They do not know your plans and expect a different result from these investments. So say that we do not plan to support the course until the project is self-supporting. So far nothing has been done, so do not expect growth until everything is will be working.
Personally, your position is clear to me.

Your position is understandable. But being placed on the stock exchange you also need to take into account the volatility of bitcoins and the risks that your potential investors are expecting .. Even more than they themselves are expecting it. This is correct. And so you claim that bitcoin has grown very ... and once we bought your token, ourselves to blame ....

Just so we're clear:
Buying tokens back using ICO funds makes us a Ponzi. You want us to be a Ponzi?
Price has fallen in terms of BTC. BTC has risen. This is a known phenomenon in cryptoland, it impacts everything. Would you like us to take the blame for the fall in the value of the Mexican Peso, or credit for the rise in the FTSE? Same reason, a change in the value of the reference currency.

I can appreciate that the exchange price of Incent may be disheartening to investors. Equally, we never promised the magical 3x growth in a week that some ICO participants seem to believe is their entitlement. We said we would launch a loyalty system and integrate the first merchants around the end of March, beginning of April, and that returns would be based on demand from real e-commerce transactions. And that's what we're doing.

Not really. We are creating a platform and ecosystem and were quite transparent about what it involved and our timelines. Perhaps you didn't read the white paper or website?
It is necessary for us to trade on exchanges ahead of merchant integration to establish a market price before that buy pressure comes in. Besides, the community clamoured for Incent to be added to exchanges. Read back through the post history if you're in any doubt.
If you're upset that the market has treated Incent unfavourably when we're pre-launch (no merchant demand) and bitcoin is spiking, that is unfortunate but beyond our control. If you weren't prepared to wait until launch, you shouldn't have invested. We have always been crystal clear about where the return on investment would come from, and it's not burning the funds we collected. That is the very definition of a ponzi.
As for Tokes, there was an agreement there too. They didn't honour it. Take it up with them.

All I see is incompetence on the part of Incent. I invested in both Incent and TOKES. First the "fantastic platform" Incent built crashed every other day. You provided poor support when you were contacted for help by users / participants. You overpaid a bunch of investors and asked for the Incent back post ICO.

You should be bending over backwards to the Tokes guys for selling them on a crappy ICO platform rather than pointing fingers.

The audacity of all this is unfathomable.

seem the story has come out eventually. can't you just go on. INCENT had been dumped pretty hard the first chance its market was opened on openledger, they must really need that 5 btc very badly. i suggest tokes team to give to them what was agreed before it all started.  

No, you are completely mistaken. Let me get the facts straight:

We are a startup. As for any other startup, money doesn't grow on trees. We are trying to spend our working capital as efficiently and effectively as possible for the sake of Incent and, inevitably, its price in the long-term. We are hard at work to release the core application and on-board the first merchant. We expect this to happen during April. After having achieved this milestone, the money situation will be slightly different: There will be a revenue stream through commissions and our goal must be to write black figures as soon as possible, meaning to generate more revenue than expenses. Until this point, we are solely reliant on our seed funding through the ICO and will therefore definitely not buy back Incent and, as a result, reduce our working capital.

I'm talking about incent! Why did you go to the stock exchange? You essentially have nothing to trade with. You are present at 2 exchanges. Offer to buy your coins .... and the price is already 2 times lower than ico by btc? Are you serious? Do you like to see how your idea depreciates? You say that the price in USD has not changed almost ..... This can not be a question !!! You collected funds in btc.And the course is also in btc !! All the rest is an excuse, you can console yourself. Your do not invest in your token because you are not sure whether you can get your money back. Your not sure that he will be in demand at all ... But for this you are all here to convince the contrary. There is only one conclusion!

I'm not sure who you're talking to here, or what you're referring to - Tokes or Incent?
If Tokes, that's something to take up with their team.
If Incent, you are quite misguided.
The bit about pyramids and grandmothers was particularly arcane. Please explain?

Edit: latest major update barely a week ago: https://bitcointalksearch.org/topic/m.18010652