If BTC Value increases and all coins increase with it why does Primal Base not increase?
There are several problems:
1. There are too many tokens available. (Investors will fight for tenants -> it will dilute the price)
There are 50 desks available in Amsterdam ofice for PBT holders, and similar amounts will be created in other offices as they open.
There is no private office for 4PBT+ holders in Amsterdam?
A: Token holders with 4 or more PBT are eligible to a private office, based on availability. At this point, there are no more private offices available in Amsterdam. At the end of this year we will release a booking platform for the private offices. Through this platform it’s possible to check the availability and rent a private office.
2. Lack of transparency (I can understand that they want to keep their financial information private, but for a crowdfunded project I don't think this is the best approach)
without the express permission of our initial private investor(s), we won’t be revealing their identities in this forum
Q: Why didn’t you publish financial reports?
A: This is difficult to answer without sounding defensive or elusive; but to be blunt, Primalbase is a privately held company. Privately held companies are not required to publish their accounts and it’s not common practice for them to do so. Even if they did, only one full quarter of the financial year has passed since the token sale, the team is still small and still working flat-out opening offices. No one here is trying to hide anything, either from the public or token holders, it’s just the priority is not on reporting right now, it’s on executing the whole concept of Primalbase in the very ambitious timeframe we set ourselves with a very small team.
The benefit to operating like this is that it keeps the costs very low (hence we haven’t been the best at comms to-date, with our apologies), but as we grow in geography and scope, and as we sign up more tenants in the offices to sustain the Primalbase financial model, we will have more capacity for reporting and communications.
3. Giving away tokens to influencers, In Principal a good idea, but it will also dillute price for token holders
3. “Why do you need to keep 250 (20% or 1/5th) Primalbase tokens?”
We can create an excellent infrastructure, excellent workspaces, with very comfortable furniture, great kitchen and stuff. But the infrastructure is dead without people. It doesn’t really work without people, it is a multiplier. WeWork now is referred to as an IT project because they are focusing on the IT community, it is a significant revenue multiplier. It is not a real estate project only.
To start working with the community we need to add value. We are aspiring to make Primalbase both a home and Research and Development Laboratory for Blockchain projects. We will give away a part of our tokens (250 PBT) to those who we see as being active Primalbase Ambassadors, to equip them with a freedom to use a service all around the world. I am now referring to technology gurus Vitalik Buterin, Sasha Ivanov, and others who are recognized global leaders. I am also referring here to guys from Bitcoin community, Ethereum Foundation community, Waves community — those who truly believe that Blockchain has a potential to provide solutions to a range of problems.
One has to understand that Blockchain technology is about developers and researchers. If we are talking about Blockchain business, it is hard, almost impossible, to move forward if you don’t have developers. If you only have marketing tools, it isn’t enough, you have to have a technology — interesting, promising, the one which has a range of real-life applications. Any research and development projects deserve attention.
We would like to support talented developers from Bitcoin, Ethereum Core, Waves camps. We would like to give these teams an opportunity to get an instant access to infrastructure and community. What is Blockchain? It is a huge community. It allows people to make a connection, to understand each other.
Decentralized infrastructure can help boost decentralized technologies. At the moment the industry is mostly occupied by online projects. We hope that Primalbase will change it by providing blockchain developers with physical platform for working on their projects. They will be communicating not only online, but also offline, which will surely contribute to further development of technology.
Quite recently we have launched the Blockchain Institute, we find it very important for Blockchain developers to have their own infrastructure. It will bring benefits to those who purchase membership, and to those who will be provided our tokens as a contribution to development of their projects. It doesn’t mean, however, that our team will be trading tokens on exchanges seeking to make profit, absolutely not. Tokens will be rented out for a certain period of time to prominent Blockchain tech ambassadors.
4. Q: Do you feel any responsibility of the huge decreasing of price?
A: No. We are doing everything we can to deliver Primalbase as promised in the token sale.
At the moment my conclusion is, I must admit it, it was a big mistake to invest into this ICO. Yesterday, I acted accordingly to it and sold my tokens with a big loss, but better late than never.
IMO this project is only interesting for startups that want to set up an office with Primalbase and use their blockchain network. We as investors made this project possible, but let's face it, we are not needed anymore for the success of the project. If Primalbase token would be too expensive it would be contrary to the success of the project, as prices have to be competitive to WeWork and other established competitors.
It came to my mind that Waves could be the secret investor and it would absolutely serve their objectives. Keep in mind I only have the best interest to my fellow investors and I don't want to spread any FUD, I just wanted to share my analysis. I m looking forward to a fair discussion.
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