I was thinking of investing into primal base just for kicks. I was going to throw in a small amount and see how it does. Then I read this in the ToS:
9 Cancellation and refund policy
9.1 By participating in the Crowdfund, you acknowledge that Primalbase is not required to provide a refund for any reason, and that you will not receive money or other compensation in lieu of a refund, and you consent to no right of withdrawal from the fund of the Crowfunding.
9.2 All donations to Primalbase are final and nonrefundable
So basically, if they decide that they don't want to go ahead with this business anymore they thank you for the
donation! (Not your
investment. Did you notice that too? That must have been a
Freudian slip).
This is how you distinguish the entrepreneurs who fully believe in their business and the ones who don't. No thanks. I'd rather invest with an entrepreneur that will do whatever it takes to succeed, not one that if they give up they just keep the money and have no legal recourse so to speak.
Plese tell me a single ico that made a refund if they fail.
I will help you: no one will never refund you in this world.
You dont want to take a risk? Go and buy some bank shit with an assurance and take your 1% revenue/year and stop fudding here
I'm not saying if they fail. This does not say if they fail. This says for
any reason. It's not FUD, it's right in their ToS. Maybe you should be a little smarter with your money and actually read these things instead of throwing your Satoshis at any ICO that comes along.
Care to explain why
investments are considered
donations? I'd love to hear that explained to the public.
It would appear that investors are the only ones taking a risk here and primal base is taking absolutely no risk at all on their end. They do not have to pay you back if they don't even try to make a working business. They don't have to pay you back if they decide to go on an all expenses paid vacation to Las Vegas and gamble away your funds. This looks like the Mycelium Crowdsale all over again.No revenue to speak of, no working business model,
no promises promise to never pay you back if anything goes wrong, (i.e. if the tokens are never distributed to begin with).
I was thinking of investing into primal base just for kicks. I was going to throw in a small amount and see how it does. Then I read this in the ToS:
9 Cancellation and refund policy
9.1 By participating in the Crowdfund, you acknowledge that Primalbase is not required to provide a refund for any reason, and that you will not receive money or other compensation in lieu of a refund, and you consent to no right of withdrawal from the fund of the Crowfunding.
9.2 All donations to Primalbase are final and nonrefundable
So basically, if they decide that they don't want to go ahead with this business anymore they thank you for the
donation! (Not your
investment. Did you notice that too? That must have been a
Freudian slip).
This is how you distinguish the entrepreneurs who fully believe in their business and the ones who don't. No thanks. I'd rather invest with an entrepreneur that will do whatever it takes to succeed, not one that if they give up they just keep the money and have no legal recourse so to speak.
The nature of an ICO is quite volatile, so there are risks, both known and unknown.
Investors know this going in. It is unregulated in every sense.
Having said that, Primalbase has put its core members forward, and got support from leading players in the blockchain field -- people staking their reputation. So, it wouldn't make sense to throw all of that in the trash for a quick cash grab, now would it? Primalbase is interested with expanding and nurturing the tech community, one full of like-minded people.
TL;DR: Trust us, we have a good reputation. Your team actually has no reputation at all. I've never heard of them. Advisors mean nothing because we all know every single ICO lists these top guns in the cryptocurrency space to make them look better. Their involvement in the projects themselves is basically nothing.
Oh and would it make sense to walk away with millions and have a bad reputation? Absolutely. People scam for $5 on this forum and you want me to think that for some reason these people are different with millions and millions?
well said
How professional
.
To some extent, raising funds via ICO looks like we just get the money upfront for the services that we will provide later. In reality, it just helps us to form a set of stable tenants, which will help push the project further serving as a certain natural/organic marketing tool. Apart from setting up the infrastructure, we must build a community around Primalbase. If this is not interesting to anyone, if the community is not created, shared workspaces do not work.
With the help of the ICO we are solving two essential problems:
1) We cover the initial capex/opex for the infrastructure and setup of the teams.
2) We build the core community. If you have these two problems solved, you are unstoppable.
