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Topic: Mycelium Crowdsale , Are you investing ? - page 6. (Read 19958 times)

legendary
Activity: 1638
Merit: 1010
https://www.bitcoin.com/
Long time lurker... new registration to post this question.  

Do I have my math right?

5% of the wallet portion of the mycelium venture divided proportionally by the number of BTC raised in this round of funding.

If we accept the maximum 7,500 BTC are paid, then the stake of 1 BTC would be (mycelium wallet value * 0.05)/7500 or elsewise 1BTC =  (0.00000666667 * mycelium wallet value)

If we suppose the wallet is valued at $100mil (no real data here, just a number that has been discussed) then we could value 1BTC investment at $666.67

If the wallet grows to be valued at 1BN, then we go up to $6666.70.  Not much info on how they would grow the business 10x.  

Also, it would require them to sell the wallet to another investor in order to realize this profit.  In this case, I am concerned about the T&C that says they can require investors to sell back the token at ICO price.  Seems insane if I am reading those terms correctly.

Seems like very low upside for a very risky 'investment'.  As others have said, maybe treat this more like a donation to a good cause with a very small chance of ROI.

Also, some say that the token can be traded on the exchanges, but some say not.  Any clarity here?

Am I missing something?

Edit: for perspective, the Facebook purchase of Whatsapp was for $19.1bn.  Biggest deal in history for that kind of thing.  Getting sold off for 1bn is not exactly commonplace.

I have not checked your maths more than a quick look but that is about right.
This who "crowdsale" is not looking good. If the investment was in the Mycelium company as a whole then it may be worth it (although i would have to have a look into that 1st) but if all the investors get is a share of the mycelium wallet then i can't see how this would pay off.

If these guys are serious about getting some funding from investors then they are going to have to go back to the drawing board and come up with a better proposition, because not many will fall for this as it is offered now.
newbie
Activity: 5
Merit: 0
Long time lurker... new registration to post this question.  

Do I have my math right?

5% of the wallet portion of the mycelium venture divided proportionally by the number of BTC raised in this round of funding.

If we accept the maximum 7,500 BTC are paid, then the stake of 1 BTC would be (mycelium wallet value * 0.05)/7500 or elsewise 1BTC =  (0.00000666667 * mycelium wallet value)

If we suppose the wallet is valued at $100mil (no real data here, just a number that has been discussed) then we could value 1BTC investment at $666.67

If the wallet grows to be valued at 1BN, then we go up to $6666.70.  Not much info on how they would grow the business 10x.  

Also, it would require them to sell the wallet to another investor in order to realize this profit.  In this case, I am concerned about the T&C that says they can require investors to sell back the token at ICO price.  Seems insane if I am reading those terms correctly.

Seems like very low upside for a very risky 'investment'.  As others have said, maybe treat this more like a donation to a good cause with a very small chance of ROI.

Also, some say that the token can be traded on the exchanges, but some say not.  Any clarity here?

Am I missing something?

Edit: for perspective, the Facebook purchase of Whatsapp was for $19.1bn.  Biggest deal in history for that kind of thing.  Getting sold off for 1bn is not exactly commonplace.
legendary
Activity: 2128
Merit: 1005
ASIC Wannabe
I don't like these kind of investments.  There has to be a limit to the number of shares bought, otherwise each person investing is actually pushing down the value for everyone else!

I invested in Neo and Bee and long time ago now, since then I said I wouldn't get involved in any ICOs or bitcoin start ups, so I will be giving this one a miss too.

Good luck to those who do invest though, I really do hope it is successful.

I put 4BTC into asicminer. not again.
legendary
Activity: 1218
Merit: 1003
I don't like these kind of investments.  There has to be a limit to the number of shares bought, otherwise each person investing is actually pushing down the value for everyone else!

I invested in Neo and Bee and long time ago now, since then I said I wouldn't get involved in any ICOs or bitcoin start ups, so I will be giving this one a miss too.

Good luck to those who do invest though, I really do hope it is successful.
member
Activity: 84
Merit: 10
It's shameful that a bunch of people have 'donated' their bitcoin not knowing it is only for 5% of the company.
full member
Activity: 165
Merit: 100

I will not be investing in this. Rather easy choice as well.

"We have 5% that we can give. Please give us money! If we get $1B you will get 5%. If we get $1k you will get 5%."  ??

A company that knows what they are doing would know that they need to raise X amount of money. And they are willing to give 5% for that or something on that path. Or they could provide convertible notes (since most companies do not want to put a price on shares before evaluation), etc.

It obvious that they want the easiest, safest and more profitable options in the detriment of their inverstors.
member
Activity: 84
Merit: 10
No I wont be investing but it is a curious venture for them to be going down at this time.
Seems to be a thread addressing the issues as well,would look more into it if I had plans to actually invest.
member
Activity: 62
Merit: 10
It is very exciting and it's very exciting when it matches your expectations. But I think that it still has loopholes for SCAM, because I see the mycelium is still less convincing so that it could have happened...
legendary
Activity: 2676
Merit: 2203
BitcoinPenny.com
Hmm...I need to start something like this.

Send me 10BTC, and I'll give you the whole darn Bitcoin Penny™ company--inventory, office supplies, website... Heck, I'll throw in the social media accounts FREE OF CHARGE! Grin

Seriously, though. While I question the use of 100M / 1B in the example, I do wish them success. It's a good product.

Regards,
Chris
legendary
Activity: 2590
Merit: 3014
Welt Am Draht
All they had to do was lay out in a clear manner how putting money in is going to benefit them and the person letting go of their coins. Since they don't seem to find that possible then they're missing a large trick.
hero member
Activity: 532
Merit: 500
The total amount raised has updated to a new amount finally....they are currently at 1232.69 BTC. I'm still uncertain as to whether I should invest in this or not. But I'm glad things have started moving for them again.
legendary
Activity: 1946
Merit: 1007
I won't be investing in this. Don't see how it will generate any significant profit. Also, with the risk of being forced to sell your share, remember that if price rises around halving, you will get less btc back than you invested when they force you to sell.

I am not really interested, i had heard alot of marketing begore itbwas launched, but i afraid later it will happen the same with ethereum which now is being dumped

How can you say ethereum is being dumped now? Sure it is lower than its peak but it is still 30x ICO price.

It is easy to draw conclusions from 1 day or 30 day graphs and draw your conclusions from that.

Note, I'm not holding any ETH, and I think it is overvalued and will drop more, but to say it is being dumped while price is still hugely above ICO price is crazy.

hero member
Activity: 1274
Merit: 516
I am not really interested, i had heard alot of marketing begore itbwas launched, but i afraid later it will happen the same with ethereum which now is being dumped
member
Activity: 84
Merit: 10
They already raised 1115 btc for 5% of the wallet. I think they are fooling a lot of people on this one.
hero member
Activity: 532
Merit: 500
Why has the amount invested on the status page not changed for many, many hours. Is nobody really investing anymore? I get that things may slow down after the first day, but this appears to have come to a complete stop in a way that isn't natural. Which leads me to wonder if this accounting of how much has been invested is accurate at all. If anyone from Mycelium monitors these pages, I would love to hear what's going on here.
legendary
Activity: 1666
Merit: 1020
expect(brain).toHaveBeenUsed()
The mycelium crowdsale is now live Smiley

After missing out on IOTA and LISK I have just got my 10% early bird bonus!
...


scam alert! Wrong link
hero member
Activity: 1092
Merit: 507
btcstakes.com
I was going to invest, but after reading these threads and doing some research..I've decided not to. To many unanswered questions.  Huh
sr. member
Activity: 350
Merit: 251
Shit, did I leave the stove on?
I have been using the Mycelium wallet on my Android devices and I find it pretty decent for what it is but I don't think it's worth $100 million or that it will ever reach the $900 million mark which is probably just a random number thrown in their sales pitch. I will not invest in this crowdsale because the terms sound very fishy to me and looks like Mycelium are trying to do a quick cash grab while providing no liability for the investors if this program doesn't pan out.
legendary
Activity: 1638
Merit: 1010
https://www.bitcoin.com/
i'm apreciate the OP that have post this,someone should try to invest on mycelium,it will make us know how its really works,and your thread have good response,its make people agree with you. but i'm still cannot decide to believe it or not.
With this deal all you need to believe is what you read and so far what i have read is not good enough to "believe" you will make money from investing in this crowdsale.
Don't let them tell you stories, the offering is already on paper and it doesn't look good.
legendary
Activity: 2604
Merit: 1036
So if I understand this correctly they are selling shares of their Mycelium wallet only and these shares are not even real shares of their company but digital tokens that the buyers can sell later on to other people or sell them back to Mycelium themselves. But how they estimate their wallet will be worth 900 million down the road? Can someone who has traded stocks explain what's going on with the crowdsale? Should we invest or stay away and what are the benefits of investing? Thank you.
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