91–100 of 108 posts
One of the wealthiest russians Roman Abramovich invested about $300M in Telegram. https://en.crimerussia.com/oligarchs/roman-abramovich-invest...
That's really bad if it's true. When thugs invest in technology there are many other risks besides reputation, trust, etc.
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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...
Thanks, that was a good read. And raises a lot of questions in my mind. They are going to use PoS mechanism. So, I had to look at the token distribution scheme. 4% by the team and 52% by "Ton Reserve", which I think is not explained. With only 44% held in hands of non-Ton people, is this even decentralized?
Earlier quoted context omitted.
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...
Note that the $/coin scale was exponential during the ICO and private. Essentially premined by well-connected vcs. Similar to startups before reaching IPO but much faster.
Other than the people at the top laundering money, I don't see how anyone could get tricked into putting any money into this.
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.
One of the wealthiest russians Roman Abramovich invested about $300M in Telegram. https://en.crimerussia.com/oligarchs/roman-abramovich-invest...
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> the end product of the business will be cheap (as it’s priced in these tokens) Essentially every one of these services creates a distributed market and almost none of them make the mistake of somehow deciding the price of the service in tokens in a way that wouldn't cause the market to adjust to reflect the value of the token (and ironically the only one I can come up with that makes this mistake was the WhopperCoi…
But as a consumer, why would I place my trust, and store my value in your shallow liquidity token when I prefer to just hold dollars? Certainly the company ICO'ing benefits from the infusion of money selling their token, but what is the value prop for all these different tokens for consumers? (read: not speculators or investors) Also, if the tokens trade for fiat on an exchange, then they certainly would be volatile…
Earlier quoted context omitted.
Thanks, that was a good read. And raises a lot of questions in my mind. They are going to use PoS mechanism. So, I had to look at the token distribution scheme. 4% by the team and 52% by "Ton Reserve", which I think is not explained. With only 44% held in hands of non-Ton people, is this even decentralized?
ICOs aren't decentralized. They are tokens sold by an entity that premine them and generally control most aspects of the project. There might be exceptions, but I can't think of any.