Topic: Thoughts on Uptoken for investment? (Read 923 times)

Don't recommend. Team has *no* payments background -- what qualifies them to build an ATM?

Ok after 3 days here is the situation:

67 Bitcoin = $382,000
3972 ETH = $1,223,000
11,000 XRP = $2,340
176 LTC = $10,560
51 BCC = $16,700
34,000 OMNI = $896,240

Total = $2,530,840 raised.

Now J.R. tipped in the OMNI and Sidney Rice probably bought a big chunk of the total too. Let's assume the serious investors have already bought in (why would you wait and get less discount as time goes by?). That means with a week to go they aren't going to sell much more. Assuming they probably spent $500k or so on legal and marketing this project looks finished and will likely end up in a refund.

It's a pity J.R. refused to listen to the criticism.

Coinme has operated in Washington State since 2014. They are a licensed monetary services business (MSB) with FinCEN (US federal regulator), and the Washington State Department of Financial Institutions (DFI). They have been the only operator able to acquire a license to operate in Washington state, who is second only to New York in being very strict with cryptocurrency regulations. They are using Perkins Coie as their primary counsel (one of the few legal teams with deep ICO experience) and working with IdentityMind Global (who works with Coinbase, Polymath and others).

The potential of Coinme being a scam is non-existent. They are still a startup that could fail, but a scam they are not.

UpToken Global Ltd. subsidiary in the Cayman is a consequence of using top legal and accounting professionals familiar with complying with US law with regards to Token Sales. You don't front more than a half million dollars in legal and professional fees to run a project that is not serious.

I don't wish to say anything bad about other ATM projects, I would like to see people succeed. However, not getting competent legal advice is a disaster waiting to happen, so I do hope they realize the consequences of issuing a security in the United States, including obligations to register that security as a public security with the SEC in order to allow for secondary market trading and to allow for more than 2000 shareholders of record (Section 12(g) limitation). Regulation A+ would be much more appropriate than Regulation D.

If anyone has questions about the project, I am available.

Be careful Uptoken has many signs of a possible scam ICO - selfmoderated bitcointalk post (JR deletes any complaints - and he spammed all over reddit), the TOS for the ico even says they 'reserve the right' to not use the money to buy any ATMs at all...the company is registered in the Cayman Islands..search for ICO red flags on google and you'll see uptoken has many of them!

The website says: "Token Sale Goes Live October 16th 15:00 GMT"

We will see how it goes!

Good idea but almost every idea looks good today. Does market need it? or do they have a good team? It is difficult to execute this business

May be it's a good idea but team is small for that mission, and i dont see any big companies that in partners with them. There are many good projects with idea but with limited resources chances are low.

theres more than one bitcoin atm ico going on it seems that www.bitcoinatmproject.com was the first the others are flipcoin and tewtew

and why is uptoken deleting peoples posts who complain about it on the thread here? (selfmoderated post)

More discussion here:

https://www.reddit.com/r/omni/comments/71m60u/inventor_of_the_ico_unveils_the_perfect_token/

agree, sounds good, I would like to see some human faces on https://uptoken.org  or  http://www.coinme.com/about/

As an investment I like it in that coinme is buying up the uptokens to give to ATM users. So if the millions per month at the current ATMs is real this immediately provides value/liquidity to the token?

https://uptoken.org/