There's obviously no way they need so much money. The discounts pre-sale investors receive on their tokens will be enough to let them sell at a profit when the tokens become saleable. We don't even know how far along is the implementation they're working on, what will future adoption be like - at this point, there's only insider investors looking to cash in on the hype.
Telegram has raised an initial $850M for its billion-dollar ICO
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Re: Telegram has raised an initial $850M for its billion-dollar ICO
#32Maybe I'm the last to join the party but if i understand correctly, is this money they are going to receive as investment? I ask because as much as i can google I can't find any product they are selling or any ad they are displaying, so what is being bought here? I'm not trying to be sarcastic, is there something i am missing?
There's no product yet, they're selling the tokens that will be used in future products. When we finally find use cases that make cryptoassets relevant to regular people for routine activities, then the skeptics will understand that there's more going on here than just tulips and Ponzis. Telegram has real potential to do that, it just takes some imagination to see what it could be.
Small nit: Until we finally find use cases that make cryptocurrencies relevant to regular people there's nothing more going on here than Tulips and Ponzis.
Re: Telegram has raised an initial $850M for its billion-dollar ICO
#33Maybe I'm the last to join the party but if i understand correctly, is this money they are going to receive as investment? I ask because as much as i can google I can't find any product they are selling or any ad they are displaying, so what is being bought here? I'm not trying to be sarcastic, is there something i am missing?
Per the SEC filing, yes, they are receiving the $850M as cash from private investors (mostly VCs). The "product" they are selling is tokens for their ecosystem, described in this leaked whitepaper: https://drive.google.com/open?id=1oaKoJDWvhtlvtQEuqxgfkUHcI5...
Does it say in the document who the investors are? How did you know they are VCs?
Re: Telegram has raised an initial $850M for its billion-dollar ICO
#34Another ICO. ICO that, ICO this... you cannot even go to another tech conference without an ICO gets mentioned. All this 1000 of crypto coins are useless in long term and I won't support Telegram too. There are 3 main players named Bitcoin, Litecoin and Ethereum which will stay here longterm and I don't see that changing anytime soon.
Re: Telegram has raised an initial $850M for its billion-dollar ICO
#35Hopefully these scammers will take a hefty fine one day.
Re: Telegram has raised an initial $850M for its billion-dollar ICO
#36Another ICO. ICO that, ICO this... you cannot even go to another tech conference without an ICO gets mentioned. All this 1000 of crypto coins are useless in long term and I won't support Telegram too. There are 3 main players named Bitcoin, Litecoin and Ethereum which will stay here longterm and I don't see that changing anytime soon.
You mention Litecoin but not Ripple?
Re: Telegram has raised an initial $850M for its billion-dollar ICO
#37The inherent issue with ICOs is pricing.
Buying tokens, which can be exchanged for a service at an unknown ratio (price), amounts to financing a new fast food chain by buying a million tokens for $1,000, where the tokens can be used to purchase hamburgers once the chain opens. The problem is that you have no idea if those million tokens — once the chain is up and running — will buy a thousand hamburgers or three.
So there’s a dichotomy here. Either your tokens remain low in value, and the end product of the business will be cheap (as it’s priced in these tokens) and you make no money as an investor, or the token price will increase and the end product will be expensive (but you’ll be able to sell your tokens for a profit).
In the end it’s a useless proposition: either token holders will be able to buy cheap hamburgers if the token price is low (thus causing a loss to the issuer/hamburger producer) or they will sell their expensive tokens for dollars and use dollars to buy their hamburgers elsewhere.
Re: Telegram has raised an initial $850M for its billion-dollar ICO
#38Earlier quoted context omitted.
> It's definitely a worse deal for investors than an IPO as there is no equity being sold. If you pay $100,000 for 100 shares of Google I guess you're technically getting equity, but what exactly is the advantage of that? Sure, your broker has a digital ledger that records your ownership, but is that fundamentally different from digital entries in any other ledger just because there's equity? Whether you buy Google s…
Shares mean you get a vote in the running of the company. You also have recourse in law to bayous standards according to the country's laws they are registered in
google as a class of shares with no voting rights, and historically the market price is not very different from the voting stock.
Re: Telegram has raised an initial $850M for its billion-dollar ICO
#39To be honest I have not seen any official marketing page from telegram nor any ico calendars like https://www.coingecko.com/en/ico . Is this entirely private by some group of deserving entities? When will the public can and able to participate?
Most likely next month or soon after
Re: Telegram has raised an initial $850M for its billion-dollar ICO
#40To be honest I have not seen any official marketing page from telegram nor any ico calendars like https://www.coingecko.com/en/ico . Is this entirely private by some group of deserving entities? When will the public can and able to participate?
They seem to want to do things properly wrt SEC. That would mean only advertising to accredited investors.