Mycelium's "crowdsale": basically a donation, not an investment by any means - page 15.

TheCryptoMint

member

Activity: 113

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Quote from: mookid on May 16, 2016, 10:25:57 PM

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.

tomkat

hero member

Activity: 1022

Merit: 507

Quote from: DimensionZ on May 02, 2016, 07:27:58 AM

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 ... :-)

mookid

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.

bitbitch

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.

alani123

legendary

Activity: 2422

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Leading Crypto Sports Betting & Casino Platform

Quote from: TheCryptoMint on May 16, 2016, 08:38:12 AM

Quote from: whored on May 16, 2016, 08:18:42 AM

Quote from: forzendiablo on May 15, 2016, 06:56:48 PM

Quote from: Rassah on May 14, 2016, 11:13:11 PM

Quote from: forzendiablo on May 14, 2016, 08:17:49 PM

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

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).

whored

newbie

Activity: 42

Merit: 0

Quote from: TheCryptoMint on May 16, 2016, 08:38:12 AM

Quote from: whored on May 16, 2016, 08:18:42 AM

Quote from: forzendiablo on May 15, 2016, 06:56:48 PM

Quote from: Rassah on May 14, 2016, 11:13:11 PM

Quote from: forzendiablo on May 14, 2016, 08:17:49 PM

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

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

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.

TheCryptoMint

member

Activity: 113

Merit: 11

Quote from: whored on May 16, 2016, 08:18:42 AM

Quote from: forzendiablo on May 15, 2016, 06:56:48 PM

Quote from: Rassah on May 14, 2016, 11:13:11 PM

Quote from: forzendiablo on May 14, 2016, 08:17:49 PM

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

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.

whored

newbie

Activity: 42

Merit: 0

Quote from: forzendiablo on May 15, 2016, 06:56:48 PM

Quote from: Rassah on May 14, 2016, 11:13:11 PM

Quote from: forzendiablo on May 14, 2016, 08:17:49 PM

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?

TheCryptoMint

member

Activity: 113

Merit: 11

Quote from: bitbitch on May 16, 2016, 02:16:06 AM

Quote from: gravitate on May 15, 2016, 02:56:34 AM

Quote from: Rassah on May 14, 2016, 11:13:11 PM

Quote from: forzendiablo on May 14, 2016, 08:17:49 PM

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

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

If it was a donation I would have put 0.0001 BTC in simple as that.

bitbitch

sr. member

Activity: 434

Merit: 250

Quote from: gravitate on May 15, 2016, 02:56:34 AM

Quote from: Rassah on May 14, 2016, 11:13:11 PM

Quote from: forzendiablo on May 14, 2016, 08:17:49 PM

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

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.

forzendiablo

legendary

Activity: 1526

Merit: 1000

the grandpa of cryptos

Quote from: Rassah on May 14, 2016, 11:13:11 PM

Quote from: forzendiablo on May 14, 2016, 08:17:49 PM

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

gravitate

legendary

Activity: 1372

Merit: 1000

Quote from: Rassah on May 14, 2016, 11:13:11 PM

Quote from: forzendiablo on May 14, 2016, 08:17:49 PM

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

awesome. I wish I could get involved more in the project somehow than just this..

Rassah

legendary

Activity: 1680

Merit: 1035

Quote from: forzendiablo on May 14, 2016, 08:17:49 PM

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.

forzendiablo

legendary

Activity: 1526

Merit: 1000

the grandpa of cryptos

mycellium will end as scam

beware.

alani123

legendary

Activity: 2422

Merit: 1451

Leading Crypto Sports Betting & Casino Platform

Quote from: Rassah on May 14, 2016, 07:31:46 PM

Quote from: darcycooper on May 13, 2016, 01:40:00 PM

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.

Rassah

legendary

Activity: 1680

Merit: 1035

Quote from: darcycooper on May 13, 2016, 01:40:00 PM

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.

alani123

legendary

Activity: 2422

Merit: 1451

Leading Crypto Sports Betting & Casino Platform

Quote from: Rassah on May 13, 2016, 12:15:12 PM

Quote from: alani123 on May 12, 2016, 04:11:59 AM

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.

darcycooper

newbie

Activity: 36

Merit: 0

Quote from: Rassah on May 13, 2016, 12:15:12 PM

Quote from: alani123 on May 12, 2016, 04:11:59 AM

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...

Quote from: ABCbits on May 12, 2016, 04:51:39 AM

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.

Rassah

legendary

Activity: 1680

Merit: 1035

Quote from: alani123 on May 12, 2016, 04:11:59 AM

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...

Quote from: ABCbits on May 12, 2016, 04:51:39 AM

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.

lordlucan

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

Topic: Mycelium's "crowdsale": basically a donation, not an investment by any means - page 15. (Read 21226 times)