Do you know guys that I'm really feeling pissed off because of the recent dump happening
The ico price was around 22k - 25k satoshis and now the price is around 28k satoshis which is making me panic.
I had the chance to sell at 50k but I decided to hold because I was thinking that ICONOMI will become a greatful project.
What is happening guys? Why such a huge dump? Is there any chance to get back at 50k? When?
Thank you...
Huge dump because Iconomi team isn't being nearly as transparent as everyone had expected/wanted.
Haven't released any financials or expenditures/budget info even though ICO closed an entire quarter + 3 weeks ago. (This was promised to be provided "periodically," and we have no indication that they even plan to do it on any set date.)
Won't say where or when Iconomi Inc. was incorporated. Obvious conclusion is that it's not been incorporated and they're just *acting like* it has been.
Changed from Cashila being the service operator to "Iconomi Inc." being the service operator. Iconomi Inc., if it exists, is a special-purpose vehicle (SPV). These are used primarily to attempt to insulate people from liability. So for example it would help them argue that Cashila is not liable if Iconomi crashes and burns or ends up being a scam (no, I don't think this is likely).
Three months ago Jani announced that they'd be doing periodic AMAs on Reddit.With that in mind, I'm announcing periodic AMA. Frequency is not yet known, but it could be bi-weekly (most likely) or monthly or even weekly if it's needed. That way we'll be able to answer all of your questions in a few hours to keep you updated.
Wanna know how many AMAs they've had? One.
One!!! Three months ago! So an AMA every other week was the "most likely" schedule, but instead we've had one in three months. It's like they say whatever sounds good at the time and then forget to follow up. Jani nor anybody else ever came back around and said "hey we decided to scrap the AMA plans because XYZ."
I don't doubt that the team is hard at work trying to put a working product together. But their communication
sucks ass. And that makes investors skittish. And some people might actually doubt whether the team is hard at work (on a project
other than making off with all the ICO funds), and that's understandable.