Mycelium Crowdsale , Are you investing ? - page 8.

alani123

legendary

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Leading Crypto Sports Betting & Casino Platform

Quote from: bitkilo on April 30, 2016, 07:12:22 AM

Found this comment from Rassah on reddit:

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/

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...

bitkilo

legendary

Activity: 1638

Merit: 1010

https://www.bitcoin.com/

Found this comment from Rassah on reddit:

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/

So we can only invest in the wallet but they can't guarantee that the funds won't be used for other projects, really?

gentlemand

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Welt Am Draht

The terms are bizarre and shit so it's a no. If you can put in small amounts then i will more as a donation and expect nothing back.

Bitware

hero member

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Merit: 1001

weaving spiders come not here

Sounds like they are in financial trouble.

alani123

legendary

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Leading Crypto Sports Betting & Casino Platform

To me, even the name is misleading. They call it a "crowdsale" but they have the right to repurchase shares at IPO sell price and don't give investors many other options to sell or trade the shares. This puts Mycelium in a no risk position while giving them very little incentive to go after profit after getting the funds, but even if they do meet sucess they could just kick investors out by getting the shares at the sell price. It's more of a crowdfunding initiative.

Bgjjj2016

sr. member

Activity: 448

Merit: 250

Ben2016

Quote from: Monnt on April 30, 2016, 06:47:48 AM

Quote from: interbtc on April 30, 2016, 06:28:29 AM

I don't understand this to be honest ; why are they selling shares of their project ? They know best will it turn profit, so it seams to me that they are
looking more for bailout of sorts, rather than that they are selling shares from any other reason.

Personally, i am not even remotely considering of investing my funds there, but i am interested in what others have to say tho.

The whole idea of crowdfunding is that they don't really have the funds to do everything they want. They sell shares to fund their research and development. I'm investing 1 btc Cheesy

When you read their legal mambo jumbo , you'll see they can force you sell your share for the original price. I love mycelium and was very excited first until I read their legal disclosure.

Monnt

legendary

Activity: 938

Merit: 1002

Quote from: interbtc on April 30, 2016, 06:28:29 AM

I don't understand this to be honest ; why are they selling shares of their project ? They know best will it turn profit, so it seams to me that they are
looking more for bailout of sorts, rather than that they are selling shares from any other reason.

Personally, i am not even remotely considering of investing my funds there, but i am interested in what others have to say tho.

The whole idea of crowdfunding is that they don't really have the funds to do everything they want. They sell shares to fund their research and development. I'm investing 1 btc Cheesy

bitkilo

legendary

Activity: 1638

Merit: 1010

https://www.bitcoin.com/

Sounded good when i first read about the project but the more you read into it the worse it sounds.
I mean how will the take this company to a value of 900 million usd, what's their long-term plan to do this?
Also the 100mil value on Mycelium currently relates to the company as a whole but you can only invest in the wallet.

There is also some clause im still looking into regarding mycelium buying back the shares at the original ipo offer when they want to.

Quote

Token repurchase. In the event of SIA’s IPO Mycelium shall have a right to repurchase
Participant’s Tokens and corresponding SARs at Tokens’ Nominal Value equal to the Tokens’
purchase price during Sale Event in the USD based on BTC to USD BitcoinAverage exchange
rate at the time of the Sale Event closing. When SIA decides to start paying dividends,
Participant will have a right to sell Tokens to Mycelium for the Nominal Value or convert the
Tokens into class B nonvoting preference shares of Mycelium SIA.

Jasad

legendary

Activity: 1414

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= jasad =

interbtc

sr. member

Activity: 451

Merit: 250

I don't understand this to be honest ; why are they selling shares of their project ? They know best will it turn profit, so it seams to me that they are
looking more for bailout of sorts, rather than that they are selling shares from any other reason.

Personally, i am not even remotely considering of investing my funds there, but i am interested in what others have to say tho.

blacklizard

full member

Activity: 139

Merit: 103

I'm in and excited about their planned support for OpenAssets. Support for digital assets in wallets (over 3rd party websites) is imho long overdue.

OmegaStarScream

staff

Activity: 3500

Merit: 6152

It's going to start soon : https://wallet.mycelium.com/early-bird-registration.html
Here is the basic terms : https://wallet.mycelium.com/elements/licenses.html or :

Quote

You get the share of Mycelium and the right to receive money whenever Mycelium gets more expensive. 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. So you will get 900 million USD multiplied by your portion (if you are the owner of 5% you will get 5% of 900 million = 45 million). Your initial investment stays with you: you keep owning this right and it is non-dilutable. The next 20% we sell will be dilutable.

Your portion is how much you invest divided by how much all participants invest altogether (during this round). And multiplied by 5% (that is the total share being sold). You guys all together will get 5%. No matter what.

This round of the crowdsale is the first one in Mycelium's history. The round is open from May 1st to May 18th. You can register early until May 1st and get a 10% discount (you pay 1BTC, we calculate it as 1.1BTC).

You are free to resell, gift, pledge your rights the way you want. In about a month you will be able to control your share of Mycelium right in Mycelium Wallet.

‘Mycelium’ refers to the Mycelium Wallet project alone. We are not selling our other projects now. The legal form is called 'Stocks Appreciating Rights'. You can keep those SARs in the form of Mycelium Tokens or potentially convert them later into class B shares of Mycelium SIA (this will require de-anonymisation of the Mycelium Token owner).

To make the rights secure and convenient, we created them in the form of digital blockchain based tokens (colored coins issued using the Colu.co protocol over regular Bitcoin blockchain). Each token incorporates the information about the contract terms.

Token owners can either sell them on the open market at any moment or redeem to us if conditions are met. The latter can be done in a number of events such as an IPO and issuance of new shares; a capital increase; a sale, merger, or acquisition of the entire company. Or you can later convert SARs to class B shares and receive dividends or sell shares.

The offer refers to the Mycelium Wallet project only. There will be 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.

It seems very interesting honestly , anyone of you planning to invest maybe ? personally I'm not sure how those things works so I'm not really sure If I should or not . It's open discussion so yeah .. Let's hear your thoughts;

Topic: Mycelium Crowdsale , Are you investing ? - page 8. (Read 19962 times)