Topic: Mycelium Crowdsale , Are you investing ? - page 7. (Read 19958 times)
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.
Okay....I don't get it! I don't have a problem investing in new technologies but I just don't get this one at all. If I gave them my BTC, would it actually be an investment or just a donation? If the tokens aren't exchangeable and if they can buy them back at ICO price if they ever became valuable, where is my incentive? The way it reads is that my investment could either result in a negative ROI or a break even ROI. Somebody please explain why I should support this project....I'm an easy mark but I need something!
I would put it this way: it could not possibly be worst than 99.9999% of the other shitcoins on the market, whether it's an investment that Mycelium is going to use the proceeds for or whatever else. As I said I won't invest myself but I really like the wallet.See...That's what I don't get here. At least with an altcoin, I have an exchangeable token that I could hype, fud, support, short, long....etc. But, with this project, all it says is that I will receive a free wallet with a non-exchangeable token, but if the token becomes exchangeable, then they have the option of taking it back at its original purchase price. Huh? I mean, I'm a lollipop when it comes to crowdsales, but I'm gonna need some serious shills here to sell me on this one!
Okay....I don't get it! I don't have a problem investing in new technologies but I just don't get this one at all. If I gave them my BTC, would it actually be an investment or just a donation? If the tokens aren't exchangeable and if they can buy them back at ICO price if they ever became valuable, where is my incentive? The way it reads is that my investment could either result in a negative ROI or a break even ROI. Somebody please explain why I should support this project....I'm an easy mark but I need something!
I would put it this way: it could not possibly be worst than 99.9999% of the other shitcoins on the market, whether it's an investment that Mycelium is going to use the proceeds for or whatever else. As I said I won't invest myself but I really like the wallet. 
< snip >
Reason enough right there. Buying tokens that *explicitly* represent nothing. Quote
[2]IMPORTANT:
The crowdsale offer refers to the Wallet project only. No refunds. Token is not a security, is not listed, authorized, issued or traded on any regulated market. We do not guarantee that the value of tokens will increase.
The crowdsale offer refers to the Wallet project only. No refunds. Token is not a security, is not listed, authorized, issued or traded on any regulated market. We do not guarantee that the value of tokens will increase.
Bitcoin Forum > Economy > Marketplace > Securities used to be jammed with similar offers a few years ago. Results as expected.
Oh, it was a whimsical time of NEOBEES and ASICMINERs. Rife with vanishing fund managers and epic exchange hacks. Bitcoin may as well have been VentureCapCoin.
May we never return to this place.
This offering however; too vague. We've moved into BTC 2.0, if im going to invest into a quasi legal asset, I at least want the terms to be clear. This is being pitched as a gofundme project for all practical purposes. Not quite an investment.
Also, the diligence is impossible on this.
Mycelium Crowdsale , Are you investing ?
No.
It is so obviously a bad "investment", that I would consider anyone who says "Yes" could be compensated to troll for Mycelium,
No.
It is so obviously a bad "investment", that I would consider anyone who says "Yes" could be compensated to troll for Mycelium,
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. But it all depends on how this works and depends on the person doing the investment
Okay....I don't get it! I don't have a problem investing in new technologies but I just don't get this one at all. If I gave them my BTC, would it actually be an investment or just a donation? If the tokens aren't exchangeable and if they can buy them back at ICO price if they ever became valuable, where is my incentive? The way it reads is that my investment could either result in a negative ROI or a break even ROI. Somebody please explain why I should support this project....I'm an easy mark but I need something!
The only way your tokens increase in value is if the next tranch fetches a higher valuation. Of course, when it is traded on the exchange, the market has the final word on the valuation though. This whole crowdsale seems like a money grab to me. They even stated that their wallet only makes $300 per month, yet they value it at 10-100 million. You would make more from interest alone than investing in this project.
Assuming that the money is actually going into the development and not just an increase in funding so they can postpone it another year and have a nice salary, this would be a fairly good decision to make from a business perspective. There can be some potential with this crowdsale, but only if they make a product truly worth what they are selling. This is why shares are better than an unproven currency.
The only way your tokens will gain value is if the next crowdsale values the company even higher. Also, the wallet only makes $300 per month, yet they value the wallet at 10-100 million already. With 10 million, you can make $2500 per month in interest alone.
Okay....I don't get it! I don't have a problem investing in new technologies but I just don't get this one at all. If I gave them my BTC, would it actually be an investment or just a donation? If the tokens aren't exchangeable and if they can buy them back at ICO price if they ever became valuable, where is my incentive? The way it reads is that my investment could either result in a negative ROI or a break even ROI. Somebody please explain why I should support this project....I'm an easy mark but I need something!
The only way your tokens increase in value is if the next tranch fetches a higher valuation. Of course, when it is traded on the exchange, the market has the final word on the valuation though. This whole crowdsale seems like a money grab to me. They even stated that their wallet only makes $300 per month, yet they value it at 10-100 million. You would make more from interest alone than investing in this project.
Assuming that the money is actually going into the development and not just an increase in funding so they can postpone it another year and have a nice salary, this would be a fairly good decision to make from a business perspective. There can be some potential with this crowdsale, but only if they make a product truly worth what they are selling. This is why shares are better than an unproven currency.
Okay....I don't get it! I don't have a problem investing in new technologies but I just don't get this one at all. If I gave them my BTC, would it actually be an investment or just a donation? If the tokens aren't exchangeable and if they can buy them back at ICO price if they ever became valuable, where is my incentive? The way it reads is that my investment could either result in a negative ROI or a break even ROI. Somebody please explain why I should support this project....I'm an easy mark but I need something!
The only way your tokens increase in value is if the next tranch fetches a higher valuation. Of course, when it is traded on the exchange, the market has the final word on the valuation though. This whole crowdsale seems like a money grab to me. They even stated that their wallet only makes $300 per month, yet they value it at 10-100 million. You would make more from interest alone than investing in this project.
Okay....I don't get it! I don't have a problem investing in new technologies but I just don't get this one at all. If I gave them my BTC, would it actually be an investment or just a donation? If the tokens aren't exchangeable and if they can buy them back at ICO price if they ever became valuable, where is my incentive? The way it reads is that my investment could either result in a negative ROI or a break even ROI. Somebody please explain why I should support this project....I'm an easy mark but I need something!
< snip >
Reason enough right there. Buying tokens that *explicitly* represent nothing. Quote
[2]IMPORTANT:
The crowdsale offer refers to the Wallet project only. No refunds. Token is not a security, is not listed, authorized, issued or traded on any regulated market. We do not guarantee that the value of tokens will increase.
The crowdsale offer refers to the Wallet project only. No refunds. Token is not a security, is not listed, authorized, issued or traded on any regulated market. We do not guarantee that the value of tokens will increase.
Bitcoin Forum > Economy > Marketplace > Securities used to be jammed with similar offers a few years ago. Results as expected.
I know I won't invest in this, but I think it's an interesting project as well. I use their wallet and it has been nothing but reliable and convenient for me. I'm just very skeptical about investing in anything related to bitcoin other than bitcoin itself.
I was excited about it but after looking into it I'm not going to be giving up my BTC. There are a few reasons:
EDIT: this isn't meant to bash Mycelium. I love their new ideas for the wallet and I use it all the time. I just won't be investing (or won't be investing very much).
- 1. They seem to be based in Latvia or Cyprus[1]
- 2. You will own a 'token' of the company. Not a share, not a stake[2]
- 3. They haven't set out a valuation for their company. If they raise 500BTC and you're contributing 1BTC you now 'own' 0.01% of their company. Who's to say the app was worth 10000BTC though?
I have lots of questions for them:
Why do you need the money? What will it be used for?
What's the business model?
What does your cash flow look like? What's your cost of acquisition per customer?
Do you have debt? What's the debt service ratio?
What assets do you own?
What happens if you dissolve, go bankrupt, or decide to run with the funds (not saying they will, but how would you sue for $400US internationally? You wouldn't. It's too expensive).
Quote
[1]Mycelium Holding LTD, Emmanouil Roidi, Kirzis Center, 2nd floor, Office D25, Agias Zonis, 3031, Limassol, Cyprus
Mycelium SIA, 34-1 Blaumana Street, Riga, LV-1011, Latvia
Mycelium SIA, 34-1 Blaumana Street, Riga, LV-1011, Latvia
Quote
[2]IMPORTANT:
The crowdsale offer refers to the Wallet project only. No refunds. Token is not a security, is not listed, authorized, issued or traded on any regulated market. We do not guarantee that the value of tokens will increase.
The crowdsale offer refers to the Wallet project only. No refunds. Token is not a security, is not listed, authorized, issued or traded on any regulated market. We do not guarantee that the value of tokens will increase.
EDIT: this isn't meant to bash Mycelium. I love their new ideas for the wallet and I use it all the time. I just won't be investing (or won't be investing very much).
from the mycelium discussion page (which only shows the most recent 3-6 messages because of a terrible job formatting it):
"I did not say you are buying shares of the whole company. Just the wallet division
There is no minimum investment, yet. We may make one if there is s transaction spamming
We are not valued at $100,000,000, and will not accept that valuation. We do not expect 10x growth in a year."
which is almost total opposite of the basic terms page:
"Let's suppose that this time, with this crowdsale, it will be valued at 100 million USD. Imagine that when we sell another portion one year later it will be valued at 1 billion USD."
this is worse than paycoin
"I did not say you are buying shares of the whole company. Just the wallet division
There is no minimum investment, yet. We may make one if there is s transaction spamming
We are not valued at $100,000,000, and will not accept that valuation. We do not expect 10x growth in a year."
which is almost total opposite of the basic terms page:
"Let's suppose that this time, with this crowdsale, it will be valued at 100 million USD. Imagine that when we sell another portion one year later it will be valued at 1 billion USD."
this is worse than paycoin
$100,000,000 valuation of a software wallet that probably took less than 100,000 man hours to develop? and projected 10x increase in value in a year?
NOOOOOPE
clearly venture capital firms have not been interested, and it makes sense since a realistic valuation is probably $2,000,000 or less. There are a half dozen qualified software wallets out there already who are not deluded into assuming billion-dollar valuations
NOOOOOPE
clearly venture capital firms have not been interested, and it makes sense since a realistic valuation is probably $2,000,000 or less. There are a half dozen qualified software wallets out there already who are not deluded into assuming billion-dollar valuations
i have thought about it, it is a very interesting project which could take off in the future.
Sounds like they are in financial trouble.
I don't think so because they are planning to re work on the UI/UX and other stuff so I assume they need to pay more developers to work. : https://wallet.mycelium.com/concepts.html
Sounds like they are in financial trouble.
I don't think so because they are planning to re work on the UI/UX and other stuff so I assume they need to pay more developers to work. : https://wallet.mycelium.com/concepts.html
Found this comment from Rassah on reddit:
So we can only invest in the wallet but they can't guarantee that the funds won't be used for other projects, really?
Oh right, of course they urge investors to put money in their wallet project which so far was entirely free and didn't offer them any direct way to profit while they could be funneling funds to other projects profitable for them and with no obligation to investors... Quote
Rassah
2d, 17h
In the future, how do you plan to determine the value increase of just the project separate from the rest of the company?
Value increases will be determined by the next sale of tokens, or during trigger events.
And do I have a guarantee that the collected funds will only be used for the wallet project and not for the rest of the company?
Not entirely, but that's mainly because eventually all of the rest of our company will be rolled into this wallet. Most of the expense will be used to pay Wallet developer salaries, but some of our resources (like office and general brand marketing) are shared, so it would be difficult to keep completely separate. Sorry I can't give a more satisfactory answer.
Link: https://m.reddit.com/r/btc/comments/4gkwov/mycelium_new_wallet_and_crowdsale/2d, 17h
In the future, how do you plan to determine the value increase of just the project separate from the rest of the company?
Value increases will be determined by the next sale of tokens, or during trigger events.
And do I have a guarantee that the collected funds will only be used for the wallet project and not for the rest of the company?
Not entirely, but that's mainly because eventually all of the rest of our company will be rolled into this wallet. Most of the expense will be used to pay Wallet developer salaries, but some of our resources (like office and general brand marketing) are shared, so it would be difficult to keep completely separate. Sorry I can't give a more satisfactory answer.
So we can only invest in the wallet but they can't guarantee that the funds won't be used for other projects, really?
Jump to: