Bitcoin Forum

It's going to start soon : https://wallet.mycelium.com/early-bird-registration.html
Here is the basic terms : https://wallet.mycelium.com/elements/licenses.html or :


It seems very interesting honestly , anyone of you planning to invest maybe ? personally I'm not sure how those things works so I'm not really sure If I should or not . It's open discussion so yeah .. Let's hear your thoughts;

I'm in and excited about their planned support for OpenAssets. Support for digital assets in wallets (over 3rd party websites) is imho long overdue.

I don't understand this to be honest ; why are they selling shares of their project ? They know best will it turn profit, so it seams to me that they are
looking more for bailout of sorts, rather than that they are selling shares from any other reason.

Personally, i am not even remotely considering of investing my funds there, but i am interested in what others have to say tho.

No i dont interest to invest now,but i wonder what really they (mycelium) to open this project to everyone?is they really need funds and want to share profit?

Sounded good when i first read about the project but the more you read into it the worse it sounds.
I mean how will the take this company to a value of 900 million usd, what's their long-term plan to do this?
Also the 100mil value on Mycelium currently relates to the company as a whole but you can only invest in the wallet.

There is also some clause im still looking into regarding mycelium buying back the shares at the original ipo offer when they want to.

The whole idea of crowdfunding is that they don't really have the funds to do everything they want. They sell shares to fund their research and development. I'm investing 1 btc :D

When you read their legal mambo jumbo , you'll see they can force you sell your share for the original price. I love mycelium and was very excited first until I read their legal disclosure.

To me, even the name is misleading. They call it a "crowdsale" but they have the right to repurchase shares at IPO sell price and don't give investors many other options to sell or trade the shares. This puts Mycelium in a no risk position while giving them very little incentive to go after profit after getting the funds, but even if they do meet sucess they could just kick investors out by getting the shares at the sell price. It's more of a crowdfunding initiative.

Sounds like they are in financial trouble.

The terms are bizarre and shit so it's a no. If you can put in small amounts then i will more as a donation and expect nothing back.

Found this comment from Rassah on reddit:
Link:  https://m.reddit.com/r/btc/comments/4gkwov/mycelium_new_wallet_and_crowdsale/

So we can only invest in the wallet but they can't guarantee that the funds won't be used for other projects, really?

Oh right, of course they urge investors to put money in their wallet project which so far was entirely free and didn't offer them any direct way to profit while they could be funneling funds to other projects profitable for them and with no obligation to investors...

It would be good if Rassah could pitch in here and answer some questions regarding what the crowdsale funds will actually be used for because as of now it just looks like the investors will just be paying salaries.

I don't think so because they are planning to re work on the UI/UX and other stuff so I assume they need to pay more developers to work. : https://wallet.mycelium.com/concepts.html

Paying developers wages looks to be exactly what they are planning to do with the funds. It's the only answer i have seen so far regarding what will happen with the money the receive from this.

i have thought about it, it is a very interesting project which could take off in the future.

$100,000,000 valuation of a software wallet that probably took less than 100,000 man hours to develop? and projected 10x increase in value in a year?

NOOOOOPE

clearly venture capital firms have not been interested, and it makes sense since a realistic valuation is probably $2,000,000 or less. There are a half dozen qualified software wallets out there already who are not deluded into assuming billion-dollar valuations

from the mycelium discussion page (which only shows the most recent 3-6 messages because of a terrible job formatting it):

"I did not say you are buying shares of the whole company. Just the wallet division
There is no minimum investment, yet. We may make one if there is s transaction spamming
We are not valued at $100,000,000, and will not accept that valuation. We do not expect 10x growth in a year."

which is almost total opposite of the basic terms page:

"Let's suppose that this time, with this crowdsale, it will be valued at 100 million USD. Imagine that when we sell another portion one year later it will be valued at 1 billion USD."

this is worse than paycoin

I was excited about it but after looking into it I'm not going to be giving up my BTC. There are a few reasons:

• 1. They seem to be based in Latvia or Cyprus[1]
• 2. You will own a 'token' of the company. Not a share, not a stake[2]
• 3. They haven't set out a valuation for their company. If they raise 500BTC and you're contributing 1BTC you now 'own' 0.01% of their company. Who's to say the app was worth 10000BTC though?
  
  I have lots of questions for them:
  
  Why do you need the money? What will it be used for?
  What's the business model?
  What does your cash flow look like? What's your cost of acquisition per customer?
  Do you have debt? What's the debt service ratio?
  What assets do you own?
  What happens if you dissolve, go bankrupt, or decide to run with the funds (not saying they will, but how would you sue for $400US internationally? You wouldn't. It's too expensive).
  
  

I would want to do a lot more due diligence on the company but it's not readily available so I'm not risking my capital.



EDIT: this isn't meant to bash Mycelium. I love their new ideas for the wallet and I use it all the time. I just won't be investing (or won't be investing very much).

I know I won't invest in this, but I think it's an interesting project as well. I use their wallet and it has been nothing but reliable and convenient for me.  I'm just very skeptical about investing in anything related to bitcoin other than bitcoin itself.

Reason enough right there. Buying tokens that *explicitly* represent nothing.
Bitcoin Forum > Economy > Marketplace > Securities used to be jammed with similar offers a few years ago. Results as expected.

Okay....I don't get it!  I don't have a problem investing in new technologies but I just don't get this one at all.  If I gave them my BTC, would it actually be an investment or just a donation?  If the tokens aren't exchangeable and if they can buy them back at ICO price if they ever became valuable, where is my incentive?  The way it reads is that my investment could either result in a negative ROI or a break even ROI.  Somebody please explain why I should support this project....I'm an easy mark but I need something!

The only way your tokens increase in value is if the next tranch fetches a higher valuation. Of course, when it is traded on the exchange, the market has the final word on the valuation though. This whole crowdsale seems like a money grab to me. They even stated that their wallet only makes $300 per month, yet they value it at 10-100 million. You would make more from interest alone than investing in this project.

Crowdsales are typically money grabs anyways, however they can be used for good or bad.

Assuming that the money is actually going into the development and not just an increase in funding so they can postpone it another year and have a nice salary, this would be a fairly good decision to make from a business perspective. There can be some potential with this crowdsale, but only if they make a product truly worth what they are selling. This is why shares are better than an unproven currency.

I made a post on why you should not invest.  (https://bitcointalk.org/index.php?topic=1455773.msg14715535#msg14715535)

The only way your tokens will gain value is if the next crowdsale values the company even higher. Also, the wallet only makes $300 per month, yet they value the wallet at 10-100 million already. With 10 million, you can make $2500 per month in interest alone.

It is very exciting and it's very exciting when it matches your expectations. But I think that it still has loopholes for SCAM, because I see the mycelium is still less convincing so that it could have happened. But it all depends on how this works and depends on the person doing the investment

Mycelium Crowdsale , Are you investing ?
No.
It is so obviously a bad "investment", that I would consider anyone who says "Yes" could be compensated to troll for Mycelium,

Oh, it was a whimsical time of NEOBEES and ASICMINERs. Rife with vanishing fund managers and epic exchange hacks.  Bitcoin may as well have been VentureCapCoin.

May we never return to this place.

This offering however; too vague. We've moved into BTC 2.0, if im going to invest into a quasi legal asset, I at least want the terms to be clear. This is being pitched as a gofundme project for all practical purposes. Not quite an investment.

Also, the diligence is impossible on this.

I would put it this way:  it could not possibly be worst than 99.9999% of the other shitcoins on the market, whether it's an investment that Mycelium is going to use the proceeds for or whatever else.  As I said I won't invest myself but I really like the wallet.

See...That's what I don't get here.  At least with an altcoin, I have an exchangeable token that I could hype, fud, support, short, long....etc.  But, with this project, all it says is that I will receive a free wallet with a non-exchangeable token, but if the token becomes exchangeable, then they have the option of taking it back at its original purchase price.  Huh?  I mean, I'm a lollipop when it comes to crowdsales, but I'm gonna need some serious shills here to sell me on this one!

i'm apreciate the OP that have post this,someone should try to invest on mycelium,it will make us know how its really works,and your thread have good response,its make people agree with you. but i'm still cannot decide to believe it or not.

So if I understand this correctly they are selling shares of their Mycelium wallet only and these shares are not even real shares of their company but digital tokens that the buyers can sell later on to other people or sell them back to Mycelium themselves. But how they estimate their wallet will be worth 900 million down the road? Can someone who has traded stocks explain what's going on with the crowdsale? Should we invest or stay away and what are the benefits of investing? Thank you.

With this deal all you need to believe is what you read and so far what i have read is not good enough to "believe" you will make money from investing in this crowdsale.
Don't let them tell you stories, the offering is already on paper and it doesn't look good.

I have been using the Mycelium wallet on my Android devices and I find it pretty decent for what it is but I don't think it's worth $100 million or that it will ever reach the $900 million mark which is probably just a random number thrown in their sales pitch. I will not invest in this crowdsale because the terms sound very fishy to me and looks like Mycelium are trying to do a quick cash grab while providing no liability for the investors if this program doesn't pan out.

I was going to invest, but after reading these threads and doing some research..I've decided not to. To many unanswered questions.  ???

scam alert! Wrong link

Why has the amount invested on the status page not changed for many, many hours. Is nobody really investing anymore? I get that things may slow down after the first day, but this appears to have come to a complete stop in a way that isn't natural. Which leads me to wonder if this accounting of how much has been invested is accurate at all. If anyone from Mycelium monitors these pages, I would love to hear what's going on here.

They already raised 1115 btc for 5% of the wallet. I think they are fooling a lot of people on this one.

I am not really interested, i had heard alot of marketing begore itbwas launched, but i afraid later it will happen the same with ethereum which now is being dumped

I won't be investing in this. Don't see how it will generate any significant profit. Also, with the risk of being forced to sell your share, remember that if price rises around halving, you will get less btc back than you invested when they force you to sell.


How can you say ethereum is being dumped now? Sure it is lower than its peak but it is still 30x ICO price.

It is easy to draw conclusions from 1 day or 30 day graphs and draw your conclusions from that.

Note, I'm not holding any ETH, and I think it is overvalued and will drop more, but to say it is being dumped while price is still hugely above ICO price is crazy.

The total amount raised has updated to a new amount finally....they are currently at 1232.69 BTC. I'm still uncertain as to whether I should invest in this or not. But I'm glad things have started moving for them again.

All they had to do was lay out in a clear manner how putting money in is going to benefit them and the person letting go of their coins. Since they don't seem to find that possible then they're missing a large trick.

Hmm...I need to start something like this.

Send me 10BTC, and I'll give you the whole darn Bitcoin Penny™ company--inventory, office supplies, website... Heck, I'll throw in the social media accounts FREE OF CHARGE! ;D

Seriously, though. While I question the use of 100M / 1B in the example, I do wish them success. It's a good product.

Regards,
Chris

It is very exciting and it's very exciting when it matches your expectations. But I think that it still has loopholes for SCAM, because I see the mycelium is still less convincing so that it could have happened...

No I wont be investing but it is a curious venture for them to be going down at this time.
Seems to be a thread addressing the issues as well,would look more into it if I had plans to actually invest.

I will not be investing in this. Rather easy choice as well.

"We have 5% that we can give. Please give us money! If we get $1B you will get 5%. If we get $1k you will get 5%."  ??

A company that knows what they are doing would know that they need to raise X amount of money. And they are willing to give 5% for that or something on that path. Or they could provide convertible notes (since most companies do not want to put a price on shares before evaluation), etc.

It obvious that they want the easiest, safest and more profitable options in the detriment of their inverstors.

It's shameful that a bunch of people have 'donated' their bitcoin not knowing it is only for 5% of the company.

I don't like these kind of investments.  There has to be a limit to the number of shares bought, otherwise each person investing is actually pushing down the value for everyone else!

I invested in Neo and Bee and long time ago now, since then I said I wouldn't get involved in any ICOs or bitcoin start ups, so I will be giving this one a miss too.

Good luck to those who do invest though, I really do hope it is successful.

I put 4BTC into asicminer. not again.

Long time lurker... new registration to post this question.  

Do I have my math right?

5% of the wallet portion of the mycelium venture divided proportionally by the number of BTC raised in this round of funding.

If we accept the maximum 7,500 BTC are paid, then the stake of 1 BTC would be (mycelium wallet value * 0.05)/7500 or elsewise 1BTC =  (0.00000666667 * mycelium wallet value)

If we suppose the wallet is valued at $100mil (no real data here, just a number that has been discussed) then we could value 1BTC investment at $666.67

If the wallet grows to be valued at 1BN, then we go up to $6666.70.  Not much info on how they would grow the business 10x.  

Also, it would require them to sell the wallet to another investor in order to realize this profit.  In this case, I am concerned about the T&C that says they can require investors to sell back the token at ICO price.  Seems insane if I am reading those terms correctly.

Seems like very low upside for a very risky 'investment'.  As others have said, maybe treat this more like a donation to a good cause with a very small chance of ROI.

Also, some say that the token can be traded on the exchanges, but some say not.  Any clarity here?

Am I missing something?

Edit: for perspective, the Facebook purchase of Whatsapp was for $19.1bn.  Biggest deal in history for that kind of thing.  Getting sold off for 1bn is not exactly commonplace.

I have not checked your maths more than a quick look but that is about right.
This who "crowdsale" is not looking good. If the investment was in the Mycelium company as a whole then it may be worth it (although i would have to have a look into that 1st) but if all the investors get is a share of the mycelium wallet then i can't see how this would pay off.

If these guys are serious about getting some funding from investors then they are going to have to go back to the drawing board and come up with a better proposition, because not many will fall for this as it is offered now.

I'm seeing lots of those who haven't bought from the ETH ICO think this is their golden opportunity. Not to break the excitement but I kinda don't think this is it.  :)

Hi. Mycelium rep here. Sorry, I kinda abandoned bitcointalk for a while. Most if not all of the questions asked here have been answered on Reddit. If you can't find them, ask me and I'll answer them here as well.

Regarding tokens, you aren't buying an altcoin, you are buying an SAR with all the standard legal rights granted by such an investment. The tokens will be issues as colored coins, you are free to trade them on the market, while the tokens themselves don't grow in value (why we say we will buy them for the same price), they are just proof for your SAR right, which does grow in value. So if you buy a token for $1 and company doubles in value, you'll have same valued $1 token, and a $1 SAR right in the share of company which you can ask to withdraw in cash. Long term the company expects to make a profit, and if that happens, tokens will be converted into dividend paying assets instead. The reason funds can't be promised to be spent on the wallet exclusively is because some backend servers are used for other Mycelium services as well, and legal, accounting, and management are shared among all Mycelium products. Also, many of the other products will be rolled into the wallet eventually too.

Any more questions, feel free to ask.

So we are 'donating' to the wallet only, but our donations go towards other things for the company at whole?

And please stop calling it an 'investment'. You have made it clear that it is a donation.

No, your investments go to the wallet only, but some of the resources that the wallet depends on are used by other products in the company as well. Fir instance, the investment will pay for the wallet backend servers, which the wallet can't work without, but Mycelium Gear uses the wallet backend servers to track whether payments have been made too.


No I haven't

https://www.youtube.com/watch?v=9QS0q3mGPGg

The company may repurchase the subscription amount the tokens on the Mycelium Wallet at any time. Any price gains can thus be erased at any time again if the company decides to buy back. This is very bold. For me, therefore, subject to the conclusion that I will continue to use the app, but will not invest in life a Satoshi in this ICO.

Don't you think you should?

Repurchasing tokens only repurchases the contract that you bought, not the gains that the contract entitles you to. There is nothing in the agreement that erases your gains. If your contract is worth $100 and the gains are worth $1000, you can still get your gains, which are always separate from the contract itself, before selling the $100 contract.



If this was a donation, you would get nothing in return. With this you are getting a share of the company. So no, I should make it clear that you are buying a share ownership of the company, and not making a donation.

So these are real  shares?
Any reason for calling them "tokens" rather than shares?
Is this registered stock (did you file with the SEC)?
Could you also clarify number of authorized shares/shares issued? And in what company?
What legal rights do these "tokens" entitle me to?

Edit: sry, never mind, just found some of the answers, right on your crowd sale page ( https://wallet.mycelium.com/elements/licenses.html )

"The crowdsale offer refers to the Wallet project only. No refunds. Token is not a security, is not listed, authorized, issued or traded on any regulated market. We do not guarantee that the value of tokens will increase. "

Care to answer the rest? ty.

These are real Stock Appreciation Rights. They work like real shares, except while real shares grow and shrink in value themselves along with company valuation, these SARs are just fixed price contracts by themselves, but which grant you right to any company growth on top of them. Essentially you get the same thing, but with the added benefit of being able to cash out your valuation increase any time, instead of waiting for the company to repurchase stock. E.g. if company value grows, you use the SAR token to prove ownership, and request that growth to be paid out directly as cash. The value of the toke itself remains fixed, +/- whatever speculation may be added to it while it trades on the market, such as expectations of another growth spurt.


They are SARs (Stock Appreciating Rights), not direct shares. Just a different bit of legal mumbo jumbo.


This is not for an American based entity, so no.


The number issued will depend on the number sold time 20 (or divided by 5%), but the sold amount will not exceed 7,500 tokens. These are in the Mycelium Wallet division, which is wholly owned by our Mycelium corp registered in Latvia. It is separate from the rest of Mycelium.


They give you a legal right to any growth in company valuation disbursed as cash directly to you, should you ask for it. Later on, should Mycelium Wallet start making a profit, they will get converted to some type of dividend paying asset. Whether that's an IPO for actual shares, or something else, will depend on a few things, like how much revenue this actually makes.


Just to add, the no refunds is because this is a valuation sale. If everyone could refund at any time, the valuation could theoretically drop to zero at any time.

These are not SARs, because "Stock appreciation rights (SARs) is a method for companies to give their management or employees a bonus if the company performs well financially." -wikip
What you are doing is peddling unregistered securities. Calling them "tokens" instead of "shares" is just childish.


Lol @ "legal mumbo jumbo," you fast talkin' furball :D


Where's this entity based? Is this entity registered where it be based at? Edit because no reading skills: Whats this "wallet entity" called? Company registration? (how do they do that in Latvia?)
Regardless, as long as you are targeting US nationals, you have to be registered with the SEC.

Where's this wholly owned subsidiary registered? Edit: Wait, the wallet is registered in Latvia, the rest of Mycelium elsewhere?

But this is not a US entity? In which jurisdiction do I have these "legal rights"? Certainly not in US, which looks at this as nothing more than unregistered securities?

It's at least 3 years too late to be doing this. You are a US national, peddling unregistered securities. Serious shit if they want to come down on you. Make sure Mycelium has some srs lawyers on retainer, and make sure they're contractually obligated to represent you if things go to shit. And by "contractually," I mean IRL legally-binding contracts, enforceable here, in US, not in some make-believe Belize/p2p interweb court.
Good luck.

---

Lol, K, so Mama Mycelium is Mycelium Holding LTD, Emmanouil Roidi, Kirzis Center, 2nd floor, Office D25, Agias Zonis, 3031, Limassol, Cyprus, while Baby Mycelium is
Mycelium SIA, 34-1 Blaumana Street, Riga, LV-1011, Latvia.

Using that as a maildrop, or actually rent? The rates seem reasonable:
Price per desk:
day 10 EUR Euro
week 40 EUR Euro
month 90 EUR Euro
http://www.desksurfing.net/desks/1423-darbavieta

Stock appreciation rights can be sold too. And we are offering them at a discount to our employees as well (not managers though, for conflict of interest reasons)


It's all right here https://wallet.mycelium.com/elements/documentation.html You can also request more documents by emailing us directly (things we don't publish publicly because it includes private information). We are not targeting US nationals. We are not a US company, and literally half of our users are Chinese. As I said, if this is illegal where you are, please do not break the law.



Mycelium is a company registered in Cyprus. Mycelium Wallet is a wholly owned subsidiary registered in Latvia, and owns the entire Wallet division. We are selling stake in the Wallet division, registered in Latvia. If you have some concerns about the project, you are actually buying a stake in myself and the people here https://wallet.mycelium.com/about.html By "myself" I mean that I am in charge of this project, and will be the one, along with my devs, to see it through. Neither I nor my devs are actually selling these tokens, nor do we get the money other than as salaries for the devs. You can talk to us directly about any issues though. If your concern is that there's too much trust and reputation, and not legal paperwork, please do not invest, as this is obviously not for you.


I am not a lawyer. If you do not get legal rights in US, and buying these is illegal for you to do in US, please don't buy these. But I can't comment on whether it is or is not legal. Please consult your own lawyer.

Hi Rassah,
Why was the decision made to offer only the wallet side of Mycelium for the crowdsale?

Was it discussed to offer the company as a whole or may this happen in the future?

The owners decided to sell each product individually. That way products that are still just starting out and may not be viable are not included as part of the overall risk, and I suspect it also allows the developers more freedom to do whatever the hell they want to experiment with it and try to make it work, without risking anyone's money. The internal company structure is already very compartmentalized though. We in the wallet dev team don't really know anything about who works for Swish, Gear, or other products, or what they're up to.

https://bitcoinmagazine.com/articles/mycelium-bitcoin-wallet-crowdsale-closes-in-on-million-fundraise-integrates-glidera-1463584565

where's best place to follow this project?

Have plans to list tokens on some exchange?

When should we receive the tokens?

Thanks for your time.

We generally post updates on Reddit and our Twitter @MyceliumCom

We're talking to exchanges now.

Tokens will be issued Friday, and sent out Friday through Monday (we had a lot of buyers)

Out of curiosity, which exchanges have you talked to?

To the ones on his imagination.

"Sorry, there's been some internal miscommunication. Tokens will be issued Friday the 27th, not this past Friday. Need time to reconcile." https://twitter.com/MyceliumCom/status/734386623987785728

In Two Weeks ugaise :)

I have a problem.
I bought some coin  but I did not get any till now.
Support not answering me.. What is wrong?  Help me please .. 

Name:    Rassah
Posts:    7161
Activity:    1554
Position:    Legendary
Date Registered:    June 08, 2011, 07:12:12 PM
Last Active:    May 25, 2016, 03:25:59 AM

SFYL :(

So should I be absolutely  calm?  My question was at first about problems on my side,  but I think some info should be announced anyway.  Does anyone have checked info?

My token arrived today. Just hang on a bit more.


Check their twitter or reddit for more news.

When will there be exchanges to trade this token on ?

Still no coins received :(
I guess something was wrong with my agreement? I signed it for sure but maybe Mycelium didn't get it?
I definitely would like to contact someone from Mycelium team..
I hope they help me because I was really hyped about Mycelium Crowsale!
Thanks!

#Edit:

Ufff Finally it comes some minutes ago!
I hope that(communication issues) will be most serious problem by Mycelium

Sorry, we had over 1000 buyers, a lot of them didn't sign the agreements, and we've had to manually issue them until we organized all the problem buyers separate from the everything is signed and ready buyers. Had a whole lot of support emails in the mean time (over a hundred a day) and not many of us available to answer. I also don't keep an eye on bitcointalk.org much. Sorry it's taken so long. You can also always bug me directly through Telegram on https://telegram.me/MyceliumWallet I usually reply there much faster than through email.

A hundred support emails a day, for 2 weeks? From "over 1000 buyers"? That means ... each of your buyers needed support more than once?!
How could you possibly fuck a simple task up this hard?

You signed an agreement on the site https://crowdsale.mycelium.com/ ? I also had a problem with getting the coin . For a long time there was no evidence . But it was at my expense . The support for the mail is fast . I answered within 2-3 hours.

It's  called "follow-up". Not a lot of people submitted support requests, but those who did we walked through steps and sent multiple emails back and forth between, until we were sure everything was fine. And the main "fuck up" was people submitting their Colu address, expecting to get paid instantly and not realizing that the address is for future distribution, then asking us why they don't see anything on their Colu account. All those emails still add up.

But keep digging. Maybe you'll find some dirt on us eventually. Though I doubt it.

This "follow-up"? Was it unexpected when you made this promise?
And still a surprise after you blew it & set a new date (which you also blew)?

I understand, but it would be sufficient if I could check myself in panel if my agreement signing was correct :D
And information about delay shoul be more visible.
Anyway I wish you luck sincerely

We always follow up with our users to make sure everything is fixed they they report problems. The large influx of support questions was not expected though.


We didn't blow it. The tokens were issued on that Friday as promised.


Thanks. The main issue is that we really only had one dev working on the token issuance, and thus were quite understaffed. He was busy coding fixes or new features (like password reset) and didn't have time to add things like letting you know if signing was correct. Unfortunately we really rushed this. Sorry about that.

Tokens who are needed for nothing in a page called colu are worthless for us without any exchange to trade them on, it is the same than if you had never distributed them, or if you stick to show only numbers on your server,  your 2 week distribution time may seem worthless, use those 5,000 btcs to add them into an exchange.!

You can still trade them OTC.

Seriously? OTC is the answer for adding the token in any exchange?

Did you participate in the crowdsale?

Yes.

Colu is putting up a bounty to get Colored Coins supported by exchanges. We are helping out any way we can, but there's just no ETA for it yet. Sorry.

Couldnt you find a more dead project to issue colored coins than Colu?

Here is their topic https://bitcointalk.org/index.php?topic=938554.0


Those guys seems like they took their 2.5 million seed round, went on vacation and spent it all, they haven't done anything since then, 1 year and still the same beta and mobile un-friendly.

only 6 posts on 2015 and no activity since then, when do you expect exchanges will add their coin ? 2022?  :D



the level of honest scams is rampaging, you are very cynical or you in fact don't know anything about the current crypto market.

We have been working with Colu for a long while now, mainly with our Bitcoin Card, to allow it to use other assets besides just Bitcoin  (like fiat, access keys, etc). Maybe they just stayed quiet while working? In any case, I don't see any problems with Colu, since it works just fine, so I don't see what your issue with them is. Don't forget Bitcoin is beta too.

Isn't Colu protocol open source? Does it depend on Colu?

I have been critical of Mycelium's crowdsale from the start, I too don't think that letting their token be accessed  exclusively through a third party platform doesn't sound ideal for a colored coin. However, I don't see how the fact that this platform doesn't do a lot of marketing makes any difference. Would you trust a project more just for having a media team?

Sure. That's why for-profit companies have media/PR teams.

Any news/time lines etc?

If i want to sell my tokens is any chance that mycelium team buy it back at the same price?

Why don't you use any good known assets exchange based on NXT? Like Horizon(HZ) or BURST or NXT itself? Why not ethereum tokens? Everything is tradable and ready to go this colu site is nothing value for me. It's something like gold certificate, piece of paper or some bits on te website. The can leave this business in one day and my coins are gone? People invest with your project 5000 btc without any guarantees. We are investros we invest with YOUR company and expect profits or any othe activities with your site. We are not DONATORS.

I believe we pinked Colu because we are primarily a bitcoin company, and we have been working with Colu to try to implement fiat based tokens in our Mycelium card. As for the rest, it really doesn't matter if we issued thesenially assets in NXT, Erherium, or anything else, if our company were to dissappear. The assets depend entirely on our company, and without it even Mycelium NXT tokens would become worthless. But we don't plan on leaving, and don't consider the money we received a donation. I'm treating it with careful care.

Not going close to this with a ten foot pole. We have too many better options available to us to invest in.

Rassah.....
Bought into the Mycelium Crowdsale because I believe and see the BIG picture.
As I did with the Ethereum Crowdsale. And that has paid of really well.
 I think you are doing a great job. People on the this board are blowing you up daily with stupid comments.
No patience inside of them.
 I feel assured that the end result will be nothing but amazing.
 Dont listen to the negative energy.

Thank you for your hard work.

JS

^
Welcome to bitcointalk, newfriend.

Rassah, please, give us some roadmap, so we can plan something.

Hold tight, buddy. In Two Weeks^TM (Rassah claims he coined that expression, so there's that :D)

Hi. I would like to know wich exchanger will be selected for Mtokens, and where can I buy or sell till Mtokens be accepted in any exchanger.
By the way, I would like to sell my 0.22 mtokens.
See you!

How much did they pay you for that?

Just a little bit longer...

Seems like it. And with no market to get rid of the shares I wonder how long it'll be till we see people getting angry.

Hmf? After seeing those bad comments. I think I would not invest my money in this crowdfunding. I don't think why they are ignoring this investment but after many people don't want t invest. I think somethig bad is in this investment. And I don't want my money to be lost in just this kind of investment.

Is this progressing as expected? Was there some type of time frame declared that it's adhering to? I haven't heard much about this recently and I'm perfectly content with my decision not to chuck any money at it.

Taking a bit longer than expected due to BFX token integration.

https://market.bitsquare.io/?market=mt_btc

Mycelium tokens, BFX tokens, someone is going to have to start a token only exchange soon.

How much you selling for and what was the purchase price of these?

Hi. I'm selling 0.22MT. Those were brought at 1MT=1BTC.
I would like to sell them with a 30% incoming, but I am hearing proposes.
See ya!

Hi! I setted up a sell order in Bitsquare of 0.22 MT for 0.22 BTC.
Just for today. See you there!

Did you vote for Mycelium tokens here?
https://c-cex.com/?id=vote
See you!

So the value of the MT hasnt changed at all?

what's mycelium token code on bitsquare?
I cannot find any :(

No news from Mycelium either? I see lots of other wallets taking the market by storm. Nobody will even buy my Mycelium Token.

I think you are correct.

is it dead? Never received a single update after the crowdsale

Mycelium had enough investors and I doubt they are dead, I don't understand why the GitHub repository didn't get any changes for the last three months though. I know that they are going to integrate multiple cryptocurrencies as well and they did some partnerships, so "being dead" is not an option for them now. If you are an investor, I guess you could contact them and ask them for any progress.

What a non happening this has proven to be. They really should've added a donate button instead. I would've been happy to.

The main Mycelium man seems to be lording over a massive damp squib in the Mass Network as we speak.

Yep, surprising as it may seem, given that Mycelium is trying to pitch itself as a mainstream wallet offering, this token sale was a complete and utter scam.
I've emailed them a dozen times because I didn't receive the promised "early-bird bonus" of 10 per cent but I haven't had a single response.
I've already reported them to the UK fraud authorities, I suggest other investors do the same in your respective jurisdictions.
Real shame, but we really don't need scum like this in crypto.

Has MyCelium even put out any updates regarding this? I feel like we haven't heard anything at all...

They didn't and I also checked their twitter account, It looks pretty much dead since December as well. I suggest getting involved in the discussion with other investors here: https://wallet.mycelium.com/elements/discussion.html

Hopefully the money was just committed and not actually transferred...

This looks like a scam?  Why no update?

I haven't looked into them in a while but the Mycelium team seemed very promising. I'll look into this.

Update: too late  :'(

Rassah who is the community manager I believe said that a press release should be out very soon as he will be speaking with CEO (not sure If its done or not yet).
As for the updates, they are now developing SPV wallets so you no longer connect to Mycelium nodes which I believe is a really good major update, they are currently testing the system. If you have questions then you can speak with the developers or managers here: https://t.me/MyceliumWallet

Hasn't the community manager gone AWOL from this very forum? The Telegram chat is quite esoteric, no wonder we don't see them coming here. They're fighting a losing battle with the bad publicity they're bringing to themselves.

Also, the fact that the community manager needs to point out that there'll be need for him to speak with the CEO is quite telling about the lack of organization within Mycelium. Bad communication and a continuous tendency to fail with even self-set deadlines.

Any news about adding MT to exchange, or wallet update?

They are currently working on Colu integration (so people could store their MT in Mycelium wallet) and also SPV wallet so you can connect to your servers If you wish to, those are a very major updates so It could take sometime. As for the exchanges, I only know that Its currently accepted on BitSquare at the moment and I'm not sure about future plans.

How it's work this ?

What you think about this token?

The value of this token is going down because no one wants to buy it for the simple reason that they haven't seen any updates. I however spoke with some of the staff, they said that we should expect some updates soon. (major ones I believe), for the moment, there are some members testing it If I understood right. Another thing that worth mentioning is that the token is nowhere except BitSquare which is a decentralized exchange used by a very minority.

Thanks for the information

I have emailed the MD without success and the PR manager as he calls himself hides out on Reddit.I really don't think it started out as a scam but now I think its heading that way, even a Colu person I spoke to said they have never heard from them since the ICO.
My advice is to sell if you can before everyone realizes it is going nowhere and you can get nothing for your tokens and it turns into another Banks.io

I found this article http://bitsonline.com/last-years-mycelium-crowdfund/ and it now makes things clear for me

They dont answer emails. Sad.. :(

They are basically not active anywhere but Telegram (you will get answers fast and try to speak with Rassah, he is pretty much the one who is aware of whats going on): https://t.me/MyceliumWallet

I remember purchasing some of this awhile back, Mycelium seems to be a well known brand, how is this not on any top exchanges to trade yet?

Not enough interest in their token as their revenue streams are getting lots of scrutiny and doubt...same problem as always for Mycelium

Due to the fact they sold a percentage of an asset, it's deemed a security and no exchange will touch it.Don't know if US citizens were allowed to buy in but if they were it only takes a complaint to the SEC to move things along

yeah I didn't understand this sale, what's in it for investors? Are they ever planning to pay dividends or something?

this its good ask ?

Yes, indeed, he is active there.
I will ask about current information about updates and will come back here if I will find out something new..

Give news about this coin ?

See someone on Twitter is putting together a class action suit against them

Could you provide more information?
Such as a link to tweet telling about this action?
I saw there is a problem with another crowdsale "Swish" from Mycelium Team additionally..

Link please.

I will be closing this thread as the crowdsale finished long time ago, If someone want to discuss this further, It would be better to make another thread. If you have questions for the team then head to: https://t.me/MyceliumWallet . Its the only place where you will find answers.

---

It's worth mentioning that there is a new article regarding this that came out today: https://coinjournal.net/former-mycelium-employee-quit-token-sale-funds-used-vacation/