Topic: Did I make the right decision? (Read 595 times)

What precisely is right with: having no ideas what tokens & ICOs are and not knowing much about the company behind the ICO, yet going along to buy 1000 tokens? When your style is to leap before you start to look, you would be extremely lucky not to break your limbs sooner than later. Only respite I see in the entire scheme, is that the cost of the tokens, $65 is something he could afford to lose!

This is a shady project like so many ICOs that have here in the forum, in the next few times be very careful with people who say: "this is a serious project, I will invest", these people do not do any research on ICO just stay encourage others to invest in the ICO scam

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Right. You do realize that this profile, which is not yours, lists two users.

https://github.com/orgs/utrustdev/people

* Fernando Mendes https://github.com/fribmendes
* Miguel Palhas https://github.com/naps62

So I assume these two profiles must also be fake and not really yours then? Since both are members of your team... https://utrust.io/team


You preferred the option to accept Bitcoin over the transparency achieved through a smart contract? Curious.

Thanks for stopping by though. Do you mind sharing some more input about some other aspects?

* Why is nobody of the team, including the CEO, a director of utrust?
* Why did you choose a debt collector to do the kyc process?
* Why did you change the terms between the ICO and the pre-ICO, and what can people who participated in the pre-ICO do to access their tokens without agreeing on the new terms?

Thanks in advance.

Pretty sure that is Utrust's repository though. Maybe not officially, but it is subscribed to by Fernando Mendes and Miguel Palhas.



https://github.com/fribmendes
https://github.com/naps62

You do realise that our company has 15 engineers, not two, and if two of them signed up for something it doesn't mean this is the company profile we're using. Plus, even if we were using GitHub, the repositories would be private and not open to the public. You don't go to GitHub to lookup the source code of Windows either!



Your questions are very quickly answered.

• Simple: You need a permanent resident living in Switzerland to open the company type we chose. Just because there is only one director now, doesn't mean there is only ever going to be one. Our legal, financial arms and place of incorporation are in Switzerland (UTRUST Switzerland AG). Our operational branch (Engineering/UX/...) is in Portugal. More directors will be added in due time.
• First of all, they are not a dept-collecting company. They're a group that offer a variety of services, including debt collecting in some countries and compliance that we are contracting. There are very few KYC companies in the world that are FINMA approved, they are one of them.
• We are allowed to change the terms within certain boundaries at any given time, just like every other company in the world. Particularly when it comes to changing regulation, which in our case required us to enforce KYC on all participants, including pre-ICO ones. Naturally, this is not something we want to do as it costs money and is a hurdle/hassle for everybody. However, since we are a fully compliant ICO, we comply to the current law and regulations, and will continue to do so.

Rest assured that we are actively looking into adding more countries (as we announced in our last email) and will also continue to do so.

Hope this helps!

My apology, but you said that this Github profile was not yours. If one or even two employees of your company create a profile with your company's name, then it stands to reason to assume that this is your profile. Curious to see the new list of your engineers... seems you have expanded, because on your team page I only count 8 engineers.


That doesn't make any sense (I live in Switzerland and I know a bit about how to form a company). Yes, you may choose one trustee or person who is a Swiss resident (yes, even one with a questonable background), but that doesn't explain why nobody of the actual team has been named a director. Why only in "due time"? There is no process involved in adding a director when the company is formed.


Yes, of course they are a debt-collecting company. You can pretty-talk them as much as you want, but anyone in Switzerland knows (either from first-hand experience or from the frequent news coverage) who Intrum Justita is. They may have recently added KYC service, because they licensed IDnow eSign, but they are certainly not the only one offering that service - and it's not Instrum Justita who is FINMA approved, as you say, but it is the IDnow eSign service (https://www.idnow.de/) if at all.

• We are allowed to change the terms within certain boundaries at any given time, just like every other company in the world. Particularly when it comes to changing regulation, which in our case required us to enforce KYC on all participants, including pre-ICO ones. Naturally, this is not something we want to do as it costs money and is a hurdle/hassle for everybody. However, since we are a fully compliant ICO, we comply to the current law and regulations, and will continue to do so.

Again, what you are saying is untrue. You say yourself, within certain boundaries, but nothing about your changes is within boundaries. These are two completely different terms. In this case, just like every other company, as you say, you would have had to at least offer any pre-ICO token owner the option to return the tokens. For example, you say now that I must not be a politically exposed person (PEP). But what if I am? I cannot agree to your new terms then or I would have to lie. But I do have tokens from the pre-ICO, where you made no such conditions. And I most certainly don't want my personal information to be shared with Instrum Justita - under no circumstance. The terms are so fundamentally different that it makes my head ache and I seriously question whether you're as transparent and professional as you like us to believe. Don't believe me? Compare them yourself:

• Before https://s3-eu-west-1.amazonaws.com/utrust/UTRUST-terms-of-use.pdf
• Now https://s3-eu-west-1.amazonaws.com/utrust/toc-participants/en/UTRUST-toc-participants-en-2017-11-02.pdf (interesting how you call the new terms V.01 - what version was the previous terms then? V.00?)

What precisely is right with: having no ideas what tokens & ICOs are and not knowing much about the company behind the ICO, yet going along to buy 1000 tokens? When your style is to leap before you start to look, you would be extremely lucky not to break your limbs sooner than later. Only respite I see in the entire scheme, is that the cost of the tokens, $65 is something he could afford to lose!

You did the right thing of investing it, I'm not going to judge the ICO you joined. But if I were you, I'll take a ticket to buy and ride on the bullet train of bitcoin.

I am a super noob when it comes to blockchain technology. I often see people are investing in Tokens & ICOs. I have no idea what are tokens & ICOs. But, I do understand that they hold value in money. and if purchased ahead of time you can make a huge profit after many years same as bitcoin has does for millions. Recently, I stumble upon this ongoing pre-sale of tokens for UTRUST. I don't know much about the company but the tokens price was $0.0065/each. I invested in UTRUST and bought 1000 tokens. It cost me about $65.

Now my main question - Did I make the right decision by investing in UTRUST in terms of making profit?

Bunch of thanks in advance.

I am a super noob when it comes to blockchain technology. I often see people are investing in Tokens & ICOs. I have no idea what are tokens & ICOs. But, I do understand that they hold value in money. and if purchased ahead of time you can make a huge profit after many years same as bitcoin has does for millions. Recently, I stumble upon this ongoing pre-sale of tokens for UTRUST. I don't know much about the company but the tokens price was $0.0065/each. I invested in UTRUST and bought 1000 tokens. It cost me about $65.

Now my main question - Did I make the right decision by investing in UTRUST in terms of making profit?

Bunch of thanks in advance.

I am a super noob when it comes to blockchain technology. I often see people are investing in Tokens & ICOs. I have no idea what are tokens & ICOs. But, I do understand that they hold value in money. and if purchased ahead of time you can make a huge profit after many years same as bitcoin has does for millions. Recently, I stumble upon this ongoing pre-sale of tokens for UTRUST. I don't know much about the company but the tokens price was $0.0065/each. I invested in UTRUST and bought 1000 tokens. It cost me about $65.

Now my main question - Did I make the right decision by investing in UTRUST in terms of making profit?

Bunch of thanks in advance.

Once you invested on ICO, don't just expect that you will make profit in the long run. Accept also that it may turned as loss as no one knows what's the future for this no matter how good and well active the development is. Tokens hyped because of investment purposes not because of the technology or benefits does that token can bring.

Now to your question if it's right decision that you invested on a certain project ICO, you will just know the answer once you make profit. So take closely with the market once it was listed on exchanges.

I am a super noob when it comes to blockchain technology. I often see people are investing in Tokens & ICOs. I have no idea what are tokens & ICOs. But, I do understand that they hold value in money. and if purchased ahead of time you can make a huge profit after many years same as bitcoin has does for millions. Recently, I stumble upon this ongoing pre-sale of tokens for UTRUST. I don't know much about the company but the tokens price was $0.0065/each. I invested in UTRUST and bought 1000 tokens. It cost me about $65.

Now my main question - Did I make the right decision by investing in UTRUST in terms of making profit?

Bunch of thanks in advance.

There are many ICOs coming these days in the market and which one among them is going to be a successful one is very hard to predict.
We can analyze their project and just hope it not to be a scam. If you have invested then I would suggest you not to wait for years since the value of it might dump anytime. When the tokens are available for sale, sell them off and get whatever profit you can. There are much better ICOs which are dumped in the beginning of their trading days. So getting whatever profit we can is the best thing we could do.

I am a super noob when it comes to blockchain technology. I often see people are investing in Tokens & ICOs. I have no idea what are tokens & ICOs. But, I do understand that they hold value in money. and if purchased ahead of time you can make a huge profit after many years same as bitcoin has does for millions. Recently, I stumble upon this ongoing pre-sale of tokens for UTRUST. I don't know much about the company but the tokens price was $0.0065/each. I invested in UTRUST and bought 1000 tokens. It cost me about $65.

Now my main question - Did I make the right decision by investing in UTRUST in terms of making profit?

Bunch of thanks in advance.

I often see people are investing in Tokens & ICOs.

I have no idea what are tokens & ICOs.

I don't know much about the company

I invested in *add ICO name* and bought 1000 tokens.