Bitcoin Forum

I don't really get the point of it and why a token is needed ? it is not already working with a token ? any one can help ?

It's a token to own a part of their business.

Summary of conditions

Below we explain the parameters of the crowdsale and provide some details why we chose one way or another.

IMPORTANT: Please note that for the sake of clarity the way we formulate things on this page may not be legally precise. For the formal and legally accurate texts please proceed to the Documents section.
Documents

    Our Offer

    You get the share of Mycelium and the right to receive money whenever Mycelium gets more expensive. 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. So you will get 900 million USD multiplied by your portion (if you are the owner of 5% you will get 5% of 900 million = 45 million). Your initial investment stays with you: you keep owning this right and it is non-dilutable. The next 20% we sell will be dilutable.

    Crowd

    Your portion is how much you invest divided by how much all participants invest altogether (during this round). And multiplied by 5% (that is the total share being sold). You guys all together will get 5%. No matter what.

    Timeframe

    This round of the crowdsale is the first one in Mycelium's history. The round is open from May 1st to May 18th. You can register early until May 1st and get a 10% discount (you pay 1BTC, we calculate it as 1.1BTC).

    Resale

    You are free to resell, gift, pledge your rights the way you want. In about a month you will be able to control your share of Mycelium right in Mycelium Wallet.

    Legal: SARs

    ‘Mycelium’ refers to the Mycelium Wallet project alone. We are not selling our other projects now. The legal form is called 'Stocks Appreciating Rights'. You can keep those SARs in the form of Mycelium Tokens or potentially convert them later into class B shares of Mycelium SIA (this will require de-anonymisation of the Mycelium Token owner).
    Token: Colu colored BTC
    To make the rights secure and convenient, we created them in the form of digital blockchain based tokens (colored coins issued using the Colu.co protocol over regular Bitcoin blockchain). Each token incorporates the information about the contract terms.

    Exit

    Token owners can either sell them on the open market at any moment or redeem to us if conditions are met. The latter can be done in a number of events such as an IPO and issuance of new shares; a capital increase; a sale, merger, or acquisition of the entire company. Or you can later convert SARs to class B shares and receive dividends or sell shares.

    Warnings

    The offer refers to the Mycelium Wallet project only. There will be 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.

1 BTC per token is very high.

so the proposition is to make an investment in one area of the business, but the money may be used to develop other areas of the business that the investor will have no stake in?

if I buy 1 share for 1 btc what I get? there's a limit?

so the proposition is to make an investment in one area of the business, but the money may be used to develop other areas of the business that the investor will have no stake in?

My thoughts exactly. I would be interested in buying into the company but not with these terms... I'm out.

we seem to be largely in agreement that this is not a fair proposition being put to the investor community by the issuer, who wants our money but is offering very little in return.

perhaps someone from Mycelium would like to respond?

I'm also out here, but Mycelium will be flooded with Bitcoin anyway. Every ICO is getting overbought right now, I guess they will rise 1000 of Bitcoins for the 5 percent. That's crazy.

Wherever i look these days, i see ICOs and IPOs.

im not impressed with mycelium ico.....did you read through it all the ICO is only 5% of company ownership which means that if they raise 5000 BTC and you invest 1 btc you will have a .0002% stake in the company

1 BTC invested / 5000 BTC raised = .0002 % stake

of course its all dependent upon amount raised but id imagine given the current popularity of ICOs they will raise a good amount.

....ill pass on this unless I am missing something here.

Figuring out how much potential income we will have is pretty difficult. I can't even begin to guess. The wallet will be entirely open source. We will have servers hosting plugins, as a sort of an app store. Users can download plugins and either pay for them directly (such as the current Ledger TEE), or pay a percent when using the service (such as current Locks and Cashila which charge a small fee per transaction). We will charge these businesses a percent of the money they charge for sales and services. Having an exchange that allows people to day trade right from within our wallet, with the exchange differentiating itself on higher volume, better service, and better designed plugins with more features, could provide massive revenues even if we charge a tiny fraction of a percent, just on volume alone. Future revenue will depend on how many services sign up with us, and how well those businesses perform, as well as other Mycelium products we will be selling through out wallet directly. While the wallet is open source, access to our market will be restricted. So, for instance, an exchange is free to make their own version of the wallet, but it won't be able to get access to all the other plugins on the marker. We will basically be like an Appstore, building on network effects.

Hope that helps.

ya i dont see where there making money either
nothing for us community investors to sink our teeth in ;\
then again atleast their not offering to buy everyones soul in a sig campaign to scam the community like waves so thats nice....

...and yet the Waves logo appears on one side of Mycelium's black cube graphic on its crowd sale page. how did that come about i wonder?  

The owner of mycelium is one of the Escrow for waves.

acting as escrow for the Waves ICO and at the same time cross promoting the ICO through his own ICO?
isn't that a conflict of interest?

What revenues do you guys have for the wallet? So far I have not seen any revenue documentation?

Private company privately funded by our millionaire CEO. No reason to publish anything. Our revenues have been a few thousand from Locks, Cashila, LocalTrader, and Trezor. So we know we can get revenues. The investment is in us taking that to the next level.

https://wallet.mycelium.com/early-bird-registration.html
https://wallet.mycelium.com/Mycelium_Crowdsale_PR.pdf
https://wallet.mycelium.com/elements/discussion.html
https://wallet.mycelium.com/

ttps://www.reddit.com/r/Bitcoin/comments/4goqn9/mycelium_crowdsale/

I am not associated with this project but it has been listed on:

http://icocountdown.com

So your are not associated in any way? They are not paying you to get it listed on your website?

OT: why should I invest in a wallet? This should be set up as a bounty project. I see a lot of red flags, for example it is a project, no refunding. No I'll pass on this one.

No I'm not associated with this project in anyway, I just like discussing new ICO's and projects and giving people the opportunity to look at them and assess them. I am quite skeptical too, but it's interesting that this is coming from a Bitcoin wallet company.

The original developer is not part of the team, this is a new team.

 
Not really sure I guess it's in the eye of the beholder, they are two different platforms Waves is a crypto currency this is a Bitcoin wallet it says they will be supporting multiple cryptos in the future so Ethereum and Waves might be added. Here is a message I got from the team.

Me:



Rassah:


https://www.reddit.com/r/Bitcoin/comments/4goqn9/mycelium_crowdsale/d2l7l4c

an 'escrow' is a trusted third party independent of buyer and seller.
Mycelium and Waves are not independent of each other as one is promoting the other in the way i have highlighted.

On the other side of the coin they are a trusted party and source. There is also another escrow provider in the mix. Paul Klanschek.

More garbage!

503 BTC already collected. Good for them

I want to buy 1BTC(1MT) but I have sent 1.00089 BTC to 1GoQV8nT4dDy9v3GyoLGAd3ZRuTzfLkLAz ,now I got 0 MT,why? what should I do now?

You should contact them to see if it's a possible error.

Good luck getting a response out of support@mycelium.com

Mycelium has a very active salesman on the other open thread.

Still no response.  Doesn't exactly inspire confidence

I thought about investing in mycelium but the 1 BTC per token is very high..

I thought about investing in mycelium but the 1 BTC per token is very high..

When is crowdsale over and how much is 1 token?

Crowdsale is closed.

Total funds raised:

5,137.094 BTC

Amount raised represents 5% stake of Mycelium Wallet.

Many thanks to over 2500 participants in the Mycelium Wallet Crowdsale.

Wow, when I invested my satoshis in this project I didn't expect it to collect so much money. Correct me if I'm wrong, but if they got 5,137.094 BTC for 5% of their wallet, then total evaluation of the wallet is almost 103k BTC, which is around 44m $ even now, when the BTC price is down. 44m for the wallet? Really? Seems crazy to me

When will we get our tokens i made an account on colu as asked to and gave them my info. when will they send the tokens

that´s my question, too

i got mine now but i still dont know how you make money from tokens

Do we have an exchange to trade our tokens?

still quite here whats going on any news

Looks like this will be a long term position for me. Luckily, I didn't invest too much.

Wow, when I invested my satoshis in this project I didn't expect it to collect so much money. Correct me if I'm wrong, but if they got 5,137.094 BTC for 5% of their wallet, then total evaluation of the wallet is almost 103k BTC, which is around 44m $ even now, when the BTC price is down. 44m for the wallet? Really? Seems crazy to me

i can't log-in to my culo account. It sends me an email to verify and when I click, the page fails

i even cant log into my account on colu

Doesn't work with chrome for me.  Works fine with firefox

Mine has worked fine on chrome I just wish we could do something with our tokens

I logged in using Firefox, got verification e-mail and now it works fine with Chrome too. And now the only thing that bothers me is the same question: what can I do with my tokens now? :)

Now that I am past that annoying 403 errror... does anyone else have their tokens in Colu? I added my Colu address in the Mycelium crowdsale page but I still don't show anything in Colu. Anyone else? Is it a waiting game at this point or have they been distributed?

Are these colu mycelium tokens trading anywhere?

I've seen some orders on bitsquare, but not anywhere else.

Ico long time ago, but no trading, what do you think guys? When trading?

SELL 10 MT token.

Only escrow.

PM me

LOL  ::)

I buy at 0 $ per
Let me know

For example if they get 5 million investment for 5% in a crowdsale, you can they say your company is worth 100 million.

wtf is going on with this coin?

It is dead, 6k btc or 7k btc I recall, the worst and biggest scam I have seen so far, the token can't be exchangeable and is worth nothing.

Assuming they held the BTC, they'll most likely exercise the clause of the ICO contract to reimburse you the fiat value of your investment at the time (BTC=~$250).  Given 1300+ USD valuation now, you're looking at an 80% loss on investment in BTC (assuming they even mention it again, otherwise figure 100% loss).

That's crypto.

Is this a dead project?
I invested last year,up to now no voice from the team.