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Topic: Mycelium's "crowdsale": basically a donation, not an investment by any means - page 15. (Read 21223 times)

member
Activity: 113
Merit: 11
This reminds me of the whole Oculus Rift fiasco, the project was funded throught a Kickstarter, they collected millions, and yet, Facebook came, made the 'owners' rich and the backers of the project didn't get anything.

Only DAO's can solve this problem, it would be cool to have equity in a company in a trustless decentralised way.

YES I Agree the DAO is amazing. I put 20 BTC into that lets hope it succeeds.
hero member
Activity: 1022
Merit: 507
I have decided to stay away from this one. I don't like the idea of buying digital tokens for something like their Mycelium wallet which is not even stocks of a real company. And I don't know how they can put a worth of $100 million to $900 million on something that is basically free for everyone to use. What am I missing here? It looks like a get rich quick scheme that can blow up in our faces.

They'll just sell another fancy token - easy peasy ... :-)
sr. member
Activity: 446
Merit: 251
This reminds me of the whole Oculus Rift fiasco, the project was funded throught a Kickstarter, they collected millions, and yet, Facebook came, made the 'owners' rich and the backers of the project didn't get anything.

Only DAO's can solve this problem, it would be cool to have equity in a company in a trustless decentralised way.
sr. member
Activity: 434
Merit: 250
i can''t imagine any serious investor going for this proposition. taking shares in the actual company (and more than a share of just 5%) might be worth considering as an investment in a diversified portfolio of other investments.
legendary
Activity: 2422
Merit: 1451
Leading Crypto Sports Betting & Casino Platform
mycellium will end as scam

Why do you think that? I'm in charge of this wallet project, and I've spent years building a very trustworthy and ethical reputation. That's more valuable to me than any amount of money. Especially considering I'm an ancap who believes that if bitcoin wins over national currencies, without government oversight your reputation will be the most important thing. My hope is that we will have decentralized reputation systems, and everyone who has scammed and got away with it so far will be exposed, and no one would want anything to do with them. This project might fail, of course. There's no guarantee of returns or profit. But considering this is my project that I hope launches Mycelium to the top and gets me recognition, it won't be failing from a lack of me trying.

Alanis I remember that Barcode scanner. Saw it at CompUSA once.

thanc for reply but all u guys do is have no way to incentive so u make extra "token" that u will dump on users in the end
i like this wallet but the way u now are goign means something is not working right

Not strictly an "exit scam" tho. Mycelium explicitly states that its digital tokens give you no rights whatsoever, are basically a gift to Mycelium. How is that misleading?

But they are tradable Smiley bitcoin gives you no rights either apart from a figure in your wallet. Yet you can sell them for 400 usd.

I am quite happy a lot of people are missing the point here as more of the 5% will be mine.
If that's the case, you're also missing the point. If people aren't interested now, why would they buy a share later on when it'd take so long for the product to launch? This isn't comparable to other ICOs or crowdsales because the product isn't set for launch right after the sale. It'd be safe to assume that there wouldn't much (if any) buying pressure to help early investors to liquidate their stake before the launch (which there's no ETA for).
newbie
Activity: 42
Merit: 0
mycellium will end as scam

Why do you think that? I'm in charge of this wallet project, and I've spent years building a very trustworthy and ethical reputation. That's more valuable to me than any amount of money. Especially considering I'm an ancap who believes that if bitcoin wins over national currencies, without government oversight your reputation will be the most important thing. My hope is that we will have decentralized reputation systems, and everyone who has scammed and got away with it so far will be exposed, and no one would want anything to do with them. This project might fail, of course. There's no guarantee of returns or profit. But considering this is my project that I hope launches Mycelium to the top and gets me recognition, it won't be failing from a lack of me trying.

Alanis I remember that Barcode scanner. Saw it at CompUSA once.

thanc for reply but all u guys do is have no way to incentive so u make extra "token" that u will dump on users in the end
i like this wallet but the way u now are goign means something is not working right

Not strictly an "exit scam" tho. Mycelium explicitly states that its digital tokens give you no rights whatsoever, are basically a gift to Mycelium. How is that misleading?

But they are tradable Smiley bitcoin gives you no rights either apart from a figure in your wallet. Yet you can sell them for 400 usd.

I am quite happy a lot of people are missing the point here as more of the 5% will be mine.

Sure, they're tradable, as are AsicMiner share on Havelock.*
As long as you're not the greatest of the greater fools, you should do fine, irregardless of whether Mycelium becomes a successful business or spends your coin on hookers & blow Smiley

There is a fairly established and liquid market for BTC, I know approximately how much I'll get per coin. Mycelium tokens? not so much.

>as more of the 5% will be mine
5% of what, if it's not impolite to ask?

*AsicMiner doesn't exist. Hasn't for about two years. The shares are still trading. Sorta.
member
Activity: 113
Merit: 11
mycellium will end as scam

Why do you think that? I'm in charge of this wallet project, and I've spent years building a very trustworthy and ethical reputation. That's more valuable to me than any amount of money. Especially considering I'm an ancap who believes that if bitcoin wins over national currencies, without government oversight your reputation will be the most important thing. My hope is that we will have decentralized reputation systems, and everyone who has scammed and got away with it so far will be exposed, and no one would want anything to do with them. This project might fail, of course. There's no guarantee of returns or profit. But considering this is my project that I hope launches Mycelium to the top and gets me recognition, it won't be failing from a lack of me trying.

Alanis I remember that Barcode scanner. Saw it at CompUSA once.

thanc for reply but all u guys do is have no way to incentive so u make extra "token" that u will dump on users in the end
i like this wallet but the way u now are goign means something is not working right

Not strictly an "exit scam" tho. Mycelium explicitly states that its digital tokens give you no rights whatsoever, are basically a gift to Mycelium. How is that misleading?

But they are tradable Smiley bitcoin gives you no rights either apart from a figure in your wallet. Yet you can sell them for 400 usd.

I am quite happy a lot of people are missing the point here as more of the 5% will be mine.
newbie
Activity: 42
Merit: 0
mycellium will end as scam

Why do you think that? I'm in charge of this wallet project, and I've spent years building a very trustworthy and ethical reputation. That's more valuable to me than any amount of money. Especially considering I'm an ancap who believes that if bitcoin wins over national currencies, without government oversight your reputation will be the most important thing. My hope is that we will have decentralized reputation systems, and everyone who has scammed and got away with it so far will be exposed, and no one would want anything to do with them. This project might fail, of course. There's no guarantee of returns or profit. But considering this is my project that I hope launches Mycelium to the top and gets me recognition, it won't be failing from a lack of me trying.

Alanis I remember that Barcode scanner. Saw it at CompUSA once.

thanc for reply but all u guys do is have no way to incentive so u make extra "token" that u will dump on users in the end
i like this wallet but the way u now are goign means something is not working right

Not strictly an "exit scam" tho. Mycelium explicitly states that its digital tokens give you no rights whatsoever, are basically a gift to Mycelium. How is that misleading?
member
Activity: 113
Merit: 11
mycellium will end as scam

Why do you think that? I'm in charge of this wallet project, and I've spent years building a very trustworthy and ethical reputation. That's more valuable to me than any amount of money. Especially considering I'm an ancap who believes that if bitcoin wins over national currencies, without government oversight your reputation will be the most important thing. My hope is that we will have decentralized reputation systems, and everyone who has scammed and got away with it so far will be exposed, and no one would want anything to do with them. This project might fail, of course. There's no guarantee of returns or profit. But considering this is my project that I hope launches Mycelium to the top and gets me recognition, it won't be failing from a lack of me trying.

Alanis I remember that Barcode scanner. Saw it at CompUSA once.

Reading that reply just made me even more excited about the project Smiley awesome. I wish I could get involved more in the project somehow than just this..

always try to reflect on how something you read makes you feel, especially in the world of investing.

Very good Point indeed. Its easy to get caught up and before you know it you put 10 btc in. Well I did that and after I read more I put another 5 in Smiley

If it was a donation I would have put 0.0001 BTC in simple as that.
sr. member
Activity: 434
Merit: 250
mycellium will end as scam

Why do you think that? I'm in charge of this wallet project, and I've spent years building a very trustworthy and ethical reputation. That's more valuable to me than any amount of money. Especially considering I'm an ancap who believes that if bitcoin wins over national currencies, without government oversight your reputation will be the most important thing. My hope is that we will have decentralized reputation systems, and everyone who has scammed and got away with it so far will be exposed, and no one would want anything to do with them. This project might fail, of course. There's no guarantee of returns or profit. But considering this is my project that I hope launches Mycelium to the top and gets me recognition, it won't be failing from a lack of me trying.

Alanis I remember that Barcode scanner. Saw it at CompUSA once.

Reading that reply just made me even more excited about the project Smiley awesome. I wish I could get involved more in the project somehow than just this..

always try to reflect on how something you read makes you feel, especially in the world of investing.
legendary
Activity: 1526
Merit: 1000
the grandpa of cryptos
mycellium will end as scam

Why do you think that? I'm in charge of this wallet project, and I've spent years building a very trustworthy and ethical reputation. That's more valuable to me than any amount of money. Especially considering I'm an ancap who believes that if bitcoin wins over national currencies, without government oversight your reputation will be the most important thing. My hope is that we will have decentralized reputation systems, and everyone who has scammed and got away with it so far will be exposed, and no one would want anything to do with them. This project might fail, of course. There's no guarantee of returns or profit. But considering this is my project that I hope launches Mycelium to the top and gets me recognition, it won't be failing from a lack of me trying.

Alanis I remember that Barcode scanner. Saw it at CompUSA once.

thanc for reply but all u guys do is have no way to incentive so u make extra "token" that u will dump on users in the end
i like this wallet but the way u now are goign means something is not working right
legendary
Activity: 1372
Merit: 1000
mycellium will end as scam

Why do you think that? I'm in charge of this wallet project, and I've spent years building a very trustworthy and ethical reputation. That's more valuable to me than any amount of money. Especially considering I'm an ancap who believes that if bitcoin wins over national currencies, without government oversight your reputation will be the most important thing. My hope is that we will have decentralized reputation systems, and everyone who has scammed and got away with it so far will be exposed, and no one would want anything to do with them. This project might fail, of course. There's no guarantee of returns or profit. But considering this is my project that I hope launches Mycelium to the top and gets me recognition, it won't be failing from a lack of me trying.

Alanis I remember that Barcode scanner. Saw it at CompUSA once.

Reading that reply just made me even more excited about the project Smiley awesome. I wish I could get involved more in the project somehow than just this..
legendary
Activity: 1680
Merit: 1035
mycellium will end as scam

Why do you think that? I'm in charge of this wallet project, and I've spent years building a very trustworthy and ethical reputation. That's more valuable to me than any amount of money. Especially considering I'm an ancap who believes that if bitcoin wins over national currencies, without government oversight your reputation will be the most important thing. My hope is that we will have decentralized reputation systems, and everyone who has scammed and got away with it so far will be exposed, and no one would want anything to do with them. This project might fail, of course. There's no guarantee of returns or profit. But considering this is my project that I hope launches Mycelium to the top and gets me recognition, it won't be failing from a lack of me trying.

Alanis I remember that Barcode scanner. Saw it at CompUSA once.
legendary
Activity: 1526
Merit: 1000
the grandpa of cryptos
mycellium will end as scam

beware.
legendary
Activity: 2422
Merit: 1451
Leading Crypto Sports Betting & Casino Platform
The wallet makes no money! Stop calling this an investment.

The wallet makes money, and this is investment in the new wallet that will make more. It is possible to invest in things that are just starting out, not making money, but have a huge potential to.
Looking at your statements (and avatar), I'm reminded that the same mindset lead to $185 million being invested into a cat-shaped handheld barcode reader in the 00s. When talking about the potential of something that doesn't exist yet or hasn't been released, you're literally talking about potential vapourware.
legendary
Activity: 1680
Merit: 1035
The wallet makes no money! Stop calling this an investment.

The wallet makes money, and this is investment in the new wallet that will make more. It is possible to invest in things that are just starting out, not making money, but have a huge potential to.
legendary
Activity: 2422
Merit: 1451
Leading Crypto Sports Betting & Casino Platform
I did my part at highlighting why putting money with Mycelium doesn't seem like a good idea from an investor's perspective...

Considering bitcoin itself has outperformed every other investment, and is expected to in the future, I can't really argue with that sentiment...
What a statement. This is only true if you pick the right time frame. Bitcoin could also end up on a list of the worst performing currencies with the right timeframe.
newbie
Activity: 36
Merit: 0
I did my part at highlighting why putting money with Mycelium doesn't seem like a good idea from an investor's perspective...

Considering bitcoin itself has outperformed every other investment, and is expected to in the future, I can't really argue with that sentiment...

Why they even need to make a crowdsale in first place?
I saw many bitcoin startup/company make crowdsale/crowdfunding, but some of them are fail Sad
In fact, i don't understand how can they make huge money/profit.

We spent 8 figures of our own founder's money to get Mycelium to where it is now. After Ruble and Bitcoin both crashed in value, he felt a bit broke and was tired of spending his own money. So we got some private investors.

Lol, so now you want to make your investors 'feel broke'?

The wallet makes no money! Stop calling this an investment.
legendary
Activity: 1680
Merit: 1035
I did my part at highlighting why putting money with Mycelium doesn't seem like a good idea from an investor's perspective...

Considering bitcoin itself has outperformed every other investment, and is expected to in the future, I can't really argue with that sentiment...

Why they even need to make a crowdsale in first place?
I saw many bitcoin startup/company make crowdsale/crowdfunding, but some of them are fail Sad
In fact, i don't understand how can they make huge money/profit.

We spent 8 figures of our own founder's money to get Mycelium to where it is now. After Ruble and Bitcoin both crashed in value, he felt a bit broke and was tired of spending his own money. So we got some private investors. We also now believe that the wallet is strong enough to break out and start earning its own money, so we offered 5% non-dilutable stake to our users to share in what we hope will be that earnings potential, partially as a way to thank them for their support. We'll be selling 20% of the stake later, to actual professional investors and VCs to help fund the wallet the rest of the way.

We can make huge money/profit in the same way that Google Android makes huge money/profit: the Android OS is free, but many of the apps you buy cost money, and Google takes a cut on app sales. That's what we're building, but with our apps being specific to crypto finance.
full member
Activity: 126
Merit: 100
@Alani123 Thanks for your side of the argument and a lot of valid points but I was impressed by the fact Waves approached them to collaborate on their platform and the fact they now have stopped working on third party software and only working on there own from an apps point of view.The points on both sides could be debated all day.@Gravitate thanks for the heads up on that ICO I risked a few hundred dollars well 350 to be exact just in case it hits the jackpot
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