So we finally got the long expected news yesterday. Since the news didn’t clarify anything or had any real value, I had a chance to chat with Mr. C (who presented himself as developer) in the telegram group and to get some of additional answers.
This is the summary of our chat, which I posted in that group.
So here is my view on today’s news:
Basically non of my questions were answered:
Let’s repeat them:
1. ICO coins - no answer
2. The company registration paperwork - no answer
3. Number of ICO coins to be distributed - no answer
4. Initial whitepaper - no answer
5. Roadmap - no answer
So it seems that we should finance again some new projects, which is yet to be announced.
The old company is sold to new investors, but we don’t know what they plan to do. We don’t know the developers, and the projects.
This all could happen.
Usually when we have normal ICO, it takes at least 2-3 months to launch anything. And since we are starting from the scratch, then additional 2-3 months to prepare the plan and the team. This is more or less in line with the today’s message.
So the best I could say is that we may see the price to remain in this range for a while. You can earn some money by trading (or pump and dump).
However I still don’t see any intrinsic value. I’m open to evaluate the project again when the roadmap is released.
I wish you all luck!
And in the end my post from today, so you can compare the news with.
So here is my view.
0. MLM promotion
As far as I know, only some of the leaders earned nice fiat money. Others are blocked and accused for fraudulent behavior. If promoters believe in project they should have been paid in SIC. In this way they would be motivated to keep the value.
1. The value of SIC is now only speculation based on the expectation that the coin will have the utility or application in the future. Based on the whitepaper we have very limited application. And that’s staking. Staking is not working currently.
2. I was very in favor of staking, as a tool to keep the coins of the market. Then I asked several times in the past, from where are we getting the rewards for validation of transactions. Since the transaction fee is very low, those coins are coming from somewhere. At the beginning, I thought that the max supply will remain the same. But it’s increasing for the inflation. Currently the inflation is 15% yearly. This is rather big, since we are not storing any value.
The better solution would be to use coins locked by the company for rewards and not to increase the max supply.
3. Merchants. This was nice idea but the competitors did the job on time and there’s little chance that this will be a big breakthrough. There are now projects which enable use of multi crypto currencies, even spending your crypto with MasterCard.
4. They broke every promise made in the whitepaper. The most important, they haven’t released the ICO coins before the trading. The biggest mistake ever!
5. We don’t know the people behind the company. Every ICO is promoting theirs experience and developers. Using their bio and LinkedIn. Here still nothing.
So when we here some news, it’ll be only the speculation again. The intrinsic value still depends on the delivery. And till now the delivery of results is zero!
Disclaimer: I closed all my positions in SIC, and have no emotional attachment to it. I earned and cashed out some profit, and covered my ICO costs. Until we receive a new roadmap I’m not going to analyze it anymore.
1. ICO coin release : The process of claiming your ICO is happening (from 27/6/2018), contact
support.de@swissfintechdev.ch2. People behind the company :
https://www.swissfintechdev.ch/3. The company registration paperwork
https://www.zefix.ch/en/search/entity/list?name=Swiss%2520Fintech%2520Development%2520AG&searchType=exact4. Website relaunch:
https://www.swisscoin.community/
Show Posts
