[ANN][LMC]LoMoCoin - first built-in cryptocurrency LBS entertainment application

[milanooo]

This newsletter contains the developments and the next step of LomoCoin team.

Dear customers, fans and friends of LoMocoin, first of all, thank you for always being concerned about LoMoCoin team. Your enthusiasm and kind suggestions to our team encourage us in the development and make our team more and more robust and firm. Our faith in next step of the product development and the LoMoCoin ecosystem grows stronger and stronger.

Second, we are sorry for the majority of users. Because of the complex technical challenges, some QA works, complex overseas cooperation resources and channel preparation, LoMoCoin 2.0 version, which estimated to be released by the end of June release, will be postponed until mid-late July.

But we also have good news, during the months of a dormitory, we are planning to implement a series of major technological upgrades and business model upgrades.


Major issue I: LoMoCoin 2.0
First of all, LoMoCoin APP will release brand new 2.0 version, which will completely change the original LMC free distribution mechanism. This version will establish and consolidate LoMoCoin’s vision of O2O marketing business closed-loop and ecosystem.

On the basis of the original pattern – explore the red envelope on the map – it achieves innovation in advertising, attention economy and traffic economy. Not only UI / UE design will be a new look, the more exciting thing is that we will import a new Advertising and marketing system based on blockchain assets.
A multi-level agent distribution system will be deployed referring to microboss industry booming in recent years.
Capable users can act as an agent to gain rebate of crypto assets or directly legal money.
LoMoCoin will be the first blockchain application to deploy a multi-level agent distribution system with total compliance

At the same time, LoMoCoin 2.0 will support multi-language and multi-cryptocurrencies.We will closely cooperate with the local partners in Japan, Korea, Southeast Asia, North America, Europe, Australia, Russia where blockchain and cryptocurrencies industry grows fast, to carry out more down-to-earth promotion and development.

We estimate that we will hold LoMoCoin 2.0 launch conference & the global investment conference in mid-late July.

We will invite members of the LoMoCoin, all the friends who are concerned about LoMoCoin, willing to grow together and gain profits with LoMoCoin all around the world to gather together and seek common development of LoMoCoin.

Major issue II: Innovation of LoMoCoin BlockChain Technology and Business Model

In recent months, the LoMoCoin developer community has been supported by a number of overseas enthusiasts and code contributors who are helping LoMoCoin develop multiple products.

First, LoMoCoin blockchain has been completed the code work to enhance the block uniformity, automatic fast repair for fork etc. And a lot of data is being tested.
Second, our engineers are developing a PC-side full node wallet with a better UI / UE.
Third, an SPV light purse based on LoMoCoin blockchain will also be released in late August.

More importantly, based on the new LMC SPV wallet (Android and IOS) architecture, the overseas developer community will launch a series of fast landing applications, and all of these applications will be open source. These applications have a huge market scale and potential, and overseas promotion and operational resources have been prepared. By then, based on the LoMoCoin blockchain, a totally decentralized product completely different from LoMoCoin APP of marketing advertising model will be released.

Welcome individuals and teams in global range to join us. By using this new open source product, you can reach hundreds of thousands users in LoMoCoin community, which will help you start your own business fast and gain profits worldwide.

Major issue III:  Exchange
In order to strengthen the availability of global users of LMC digital assets and meet the liquidity needs in the future, we are preparing a new exchange estimated to be launched in August this year supported by cooperative operations or ICO funding. The exchange will be registered overseas to avoid domestic policy risks, but will strictly comply with national laws. By the opening of the exchange, it will share the user resources of LoMoCoin 2.0 and LoMoCoin SPV product, which will provide fast and stable trading experience for all the users.

In summary, the three major products strategy will enable LoMoCoin ecosystem expansion and further improvement in the second half of this year, playing a mutual promotion and common prosperity.


The LoMoCoin team has been working on the established goals, perhaps through the detours, out of the pit, but we have never left everyone, and we have a highly efficient industry thinking and mode adjustment ability. In the next release of several products, please stay tuned. LoMoCoin will create different new value in the future, hoping to head forward with you as usual, to create a more solid blockchain application and dig value in the blockchain industry tide.

LoMoCoin team
2017/6/21

Thanks for the quick reply. How do we know this is an official announcement of the team and not just some fake stuff? It is really hard to find any evidence of their development..

[1498263986]

1498263986

[1498263986]

1498263986

[1498263986]

1498263986

[methereum]

So is this shit legit or what?

[lomocoin]

This newsletter contains the developments and the next step of LomoCoin team.

Dear customers, fans and friends of LoMocoin, first of all, thank you for always being concerned about LoMoCoin team. Your enthusiasm and kind suggestions to our team encourage us in the development and make our team more and more robust and firm. Our faith in next step of the product development and the LoMoCoin ecosystem grows stronger and stronger.

Second, we are sorry for the majority of users. Because of the complex technical challenges, some QA works, complex overseas cooperation resources and channel preparation, LoMoCoin 2.0 version, which estimated to be released by the end of June release, will be postponed until mid-late July.

But we also have good news, during the months of a dormitory, we are planning to implement a series of major technological upgrades and business model upgrades.


Major issue I: LoMoCoin 2.0
First of all, LoMoCoin APP will release brand new 2.0 version, which will completely change the original LMC free distribution mechanism. This version will establish and consolidate LoMoCoin’s vision of O2O marketing business closed-loop and ecosystem.

On the basis of the original pattern – explore the red envelope on the map – it achieves innovation in advertising, attention economy and traffic economy. Not only UI / UE design will be a new look, the more exciting thing is that we will import a new Advertising and marketing system based on blockchain assets.
A multi-level agent distribution system will be deployed referring to microboss industry booming in recent years.
Capable users can act as an agent to gain rebate of crypto assets or directly legal money.
LoMoCoin will be the first blockchain application to deploy a multi-level agent distribution system with total compliance

At the same time, LoMoCoin 2.0 will support multi-language and multi-cryptocurrencies.We will closely cooperate with the local partners in Japan, Korea, Southeast Asia, North America, Europe, Australia, Russia where blockchain and cryptocurrencies industry grows fast, to carry out more down-to-earth promotion and development.

We estimate that we will hold LoMoCoin 2.0 launch conference & the global investment conference in mid-late July.

We will invite members of the LoMoCoin, all the friends who are concerned about LoMoCoin, willing to grow together and gain profits with LoMoCoin all around the world to gather together and seek common development of LoMoCoin.

Major issue II: Innovation of LoMoCoin BlockChain Technology and Business Model

In recent months, the LoMoCoin developer community has been supported by a number of overseas enthusiasts and code contributors who are helping LoMoCoin develop multiple products.

First, LoMoCoin blockchain has been completed the code work to enhance the block uniformity, automatic fast repair for fork etc. And a lot of data is being tested.
Second, our engineers are developing a PC-side full node wallet with a better UI / UE.
Third, an SPV light purse based on LoMoCoin blockchain will also be released in late August.

More importantly, based on the new LMC SPV wallet (Android and IOS) architecture, the overseas developer community will launch a series of fast landing applications, and all of these applications will be open source. These applications have a huge market scale and potential, and overseas promotion and operational resources have been prepared. By then, based on the LoMoCoin blockchain, a totally decentralized product completely different from LoMoCoin APP of marketing advertising model will be released.

Welcome individuals and teams in global range to join us. By using this new open source product, you can reach hundreds of thousands users in LoMoCoin community, which will help you start your own business fast and gain profits worldwide.

Major issue III:  Exchange
In order to strengthen the availability of global users of LMC digital assets and meet the liquidity needs in the future, we are preparing a new exchange estimated to be launched in August this year supported by cooperative operations or ICO funding. The exchange will be registered overseas to avoid domestic policy risks, but will strictly comply with national laws. By the opening of the exchange, it will share the user resources of LoMoCoin 2.0 and LoMoCoin SPV product, which will provide fast and stable trading experience for all the users.

In summary, the three major products strategy will enable LoMoCoin ecosystem expansion and further improvement in the second half of this year, playing a mutual promotion and common prosperity.


The LoMoCoin team has been working on the established goals, perhaps through the detours, out of the pit, but we have never left everyone, and we have a highly efficient industry thinking and mode adjustment ability. In the next release of several products, please stay tuned. LoMoCoin will create different new value in the future, hoping to head forward with you as usual, to create a more solid blockchain application and dig value in the blockchain industry tide.

LoMoCoin team
2017/6/21

Thanks for the quick reply. How do we know this is an official announcement of the team and not just some fake stuff? It is really hard to find any evidence of their development..

I am the dev. That's easy.  Just send contact@lomocoin.com a code with your bitcointalk id, and I will show it right there.

[geepee]

@ lomocoin

I think if it wasn't so hard to find information about Lomocoin and the dev a lot more people would be buying into the project.

What does this mean?
Just send contact@lomocoin.com a code with your bitcointalk id, and I will show it right there.

[lomocoin]

@ lomocoin

I think if it wasn't so hard to find information about Lomocoin and the dev a lot more people would be buying into the project.

What does this mean?
Just send contact@lomocoin.com a code with your bitcointalk id, and I will show it right there.

We just start overseas expand recently. Facebook page set up, and slack is on the way. Official news will be published on Facebook / bitcointalk.org / Reddit.
Slack will be a communication community worldwide.


Email is to verify I am the dev of LoMoCoin.

[geepee]

forget that I read it wrong.  Lomo coin is holding the conference
This investor conference Lomocoin is presenting at, what's it called and is there a link to the conference with speaker credit/list etc.  

Sorry to grill you, the more transparent things are the easier it is to buy into the project.

[methereum]

@ lomocoin


Email is to verify I am the dev of LoMoCoin.

Thank you for your e-mail. Confirmed  

[akanni6sage]

1. Why is another ICO needed to fund making an exchange? With its recent spike in 24hr trading volume and an expected market cap growth shouldn't inclusion more notable exchanges be slighter easier than before? Especially as ICOs nowadays are raising in excess of 10mn without fail.

2. Are there any details regarding how the second ICO will be priced relative to current market price? This doesn't have to be explained to me, just a simple redirection to the relevant resource would be good? I checked the whitepaper and there was no mention of a second ICO .

3. Is there a slack for this, seeing as the Bitcoin Forum  discussion is only 6 pages I assume theres some alternative messaging platform for western users?

Looks like a good project though, it's quite nice to see a cryptocoin based company with a product and not just loads of hype words.

[Crypto8man]

Hello, dev. I don't see any option to unlock the wallet. How can I do that?

[johnantony]

i have problem with my wallet. sincro is very low, can you help me, and now say this: warning:checkpoint is to old. and i can't find option for unlocked.

[coinbiz]

1. Why is another ICO needed to fund making an exchange? With its recent spike in 24hr trading volume and an expected market cap growth shouldn't inclusion more notable exchanges be slighter easier than before? Especially as ICOs nowadays are raising in excess of 10mn without fail.

2. Are there any details regarding how the second ICO will be priced relative to current market price? This doesn't have to be explained to me, just a simple redirection to the relevant resource would be good? I checked the whitepaper and there was no mention of a second ICO .

3. Is there a slack for this, seeing as the Bitcoin Forum  discussion is only 6 pages I assume theres some alternative messaging platform for western users?

Looks like a good project though, it's quite nice to see a cryptocoin based company with a product and not just loads of hype words.

1. I believe this is related to expanding globally.

2. There has always been mention of a trickling of the supply.  I think in a way this implies that there could have been a second funding round.  Though to confirm, there is no additional supply, it is the same maximum just being distributed.

3. There is a QQ Group Chat, and an Official WeChat channel.  They also just launched a Facebook page for Western markets here: https://www.facebook.com/Lomocoin-173210476508224/

[PeterTheGrape]

1. Why is another ICO needed to fund making an exchange? With its recent spike in 24hr trading volume and an expected market cap growth shouldn't inclusion more notable exchanges be slighter easier than before? Especially as ICOs nowadays are raising in excess of 10mn without fail.

2. Are there any details regarding how the second ICO will be priced relative to current market price? This doesn't have to be explained to me, just a simple redirection to the relevant resource would be good? I checked the whitepaper and there was no mention of a second ICO .

3. Is there a slack for this, seeing as the Bitcoin Forum  discussion is only 6 pages I assume theres some alternative messaging platform for western users?

Looks like a good project though, it's quite nice to see a cryptocoin based company with a product and not just loads of hype words.

1. I believe this is related to expanding globally.

2. There has always been mention of a trickling of the supply.  I think in a way this implies that there could have been a second funding round.  Though to confirm, there is no additional supply, it is the same maximum just being distributed.

3. There is a QQ Group Chat, and an Official WeChat channel.  They also just launched a Facebook page for Western markets here: https://www.facebook.com/Lomocoin-173210476508224/

Maybe the dev should clarify why another ico is needed.

It seems odd the coin was dormant for a long period, now suddenly it pops up asking for a new ico, i.e., more money from investors. After it gets that money then presumably it will go dormant again until the dev needs money?

You mentioned something about one of the cofounders being a PhD from a major college or something? So that person has a public bio? Maybe a LinkedIn page or the Chinese equivalent? Or are these people anonymous, but you just happen to know a little about them?

edit to add
Sorry, not trying to sound snarky. If the tech is real and the dev is serious then it could be a fair project, but the next step is not "I want more money" unless there is something public besides what could well be a Chinese pump crew churning volume ahead of another ico. The devs should have an open public discussion with geocoin devs, who also may or may not be legitimate, then on the basis of public questions people will be able to make more informed decisions. A coin that uses geostuff to distribute currency and attract people to crypto is an interesting idea and collaboration between a Chinese and Western coin, each with overlapping markets could have some great synergy for the coins themselves, if both devs are legitimate, and be decent for crypto generally.

[coinbiz]

1. Why is another ICO needed to fund making an exchange? With its recent spike in 24hr trading volume and an expected market cap growth shouldn't inclusion more notable exchanges be slighter easier than before? Especially as ICOs nowadays are raising in excess of 10mn without fail.

2. Are there any details regarding how the second ICO will be priced relative to current market price? This doesn't have to be explained to me, just a simple redirection to the relevant resource would be good? I checked the whitepaper and there was no mention of a second ICO .

3. Is there a slack for this, seeing as the Bitcoin Forum  discussion is only 6 pages I assume theres some alternative messaging platform for western users?

Looks like a good project though, it's quite nice to see a cryptocoin based company with a product and not just loads of hype words.

1. I believe this is related to expanding globally.

2. There has always been mention of a trickling of the supply.  I think in a way this implies that there could have been a second funding round.  Though to confirm, there is no additional supply, it is the same maximum just being distributed.

3. There is a QQ Group Chat, and an Official WeChat channel.  They also just launched a Facebook page for Western markets here: https://www.facebook.com/Lomocoin-173210476508224/

Maybe the dev should clarify why another ico is needed.

It seems odd the coin was dormant for a long period, now suddenly it pops up asking for a new ico, i.e., more money from investors. After it gets that money then presumably it will go dormant again until the dev needs money?

You mentioned something about one of the cofounders being a PhD from a major college or something? So that person has a public bio? Maybe a LinkedIn page or the Chinese equivalent? Or are these people anonymous, but you just happen to know a little about them?

edit to add
Sorry, not trying to sound snarky. If the tech is real and the dev is serious then it could be a fair project, but the next step is not "I want more money" unless there is something public besides what could well be a Chinese pump crew churning volume ahead of another ico. The devs should have an open public discussion with geocoin devs, who also may or may not be legitimate, then on the basis of public questions people will be able to make more informed decisions. A coin that uses geostuff to distribute currency and attract people to crypto is an interesting idea and collaboration between a Chinese and Western coin, each with overlapping markets could have some great synergy for the coins themselves, if both devs are legitimate, and be decent for crypto generally.

I think the reason is very clear.  After some success in China, they are expanding globally, not only with the geolocation aspect, but to also create a decentralized platform and new wallet tech.  Also the coins were never fully distributed, so they are not creating additional supply, just generating funding based on existing frozen supply.  

The team members all have bios on their website.  As you have alluded to China doesn't use English Linkedin, they use the Chinese version: 领英 - just google that and search the team members there.

I'm not sure why you mention GeoCoin, whose codebase has not been updated in 3 years and the developers are missing.  That is a dead coin simply getting pumped.  LomoCoin is very much alive, their github is active, and the original poster and team member just posted a few hours ago.  

I think most of the concerns here are due to a lack of understanding of the China market and because people are unaware of what is going on over there.  I believe as they begin their Western marketing and expansion more questions can be clarified.  

[coinbiz]

By the way, I should also ask - do you own any Bitcoins?

Who is the developer of Bitcoin, can you show me their LinkedIn bio?  



See my point?  The most important aspect here is regardless of their LinkedIn credentials (which you also do not have for GeoCoin), is that the LomoCoin project is active, the members post here, and they have hundreds of thousands REAL users on their mobile apps in China.  That is better than many alt coins right now.  But it's very undervalued because people don't know this info in the West where crypto currency is more popular.  That's why, in the last few days, Yuanbao had $10+ million in volume for LomoCoin, and Bittrex only had $2 mil at most.  In the last 24hrs, the volume on this coin was close to the volume on ZCash, the coin partnered by JP Morgan Chase.  The Chinese know about this coin, but the Westerners do not.  I am certain when the Western countries learn more about this coin it will not be a 6 page thread, and it will not be undervalued as it is now. 

So the purpose of the additional funding is to bring awareness to their success and clarify these through Western communication channels, to be able to raise funds for even greater developments.  Imagine if this coin was traded on Poloniex or other large exchanges? 

Also, I should add that, in China, Bitcoin and crypto currency has been taboo for some time.  In some cases it has been illegal and exchanges have had really rough waters to navigate.  Given that, you should understand that the developers are not going to be shouting out their identities and being too public with this.  I think they are purposely expanding globally because there is even more potential for this overseas, outside of China.

[PeterTheGrape]

...
I think the reason is very clear.  After some success in China, they are expanding globally, not only with the geolocation aspect, but to also create a decentralized platform and new wallet tech.  Also the coins were never fully distributed, so they are not creating additional supply, just generating funding based on existing frozen supply.  

The team members all have bios on their website.  As you have alluded to China doesn't use English Linkedin, they use the Chinese version: 领英 - just google that and search the team members there.

I'm not sure why you mention GeoCoin, whose codebase has not been updated in 3 years and the developers are missing.  That is a dead coin simply getting pumped.  LomoCoin is very much alive, their github is active, and the original poster and team member just posted a few hours ago.  

I think most of the concerns here are due to a lack of understanding of the China market and because people are unaware of what is going on over there.  I believe as they begin their Western marketing and expansion more questions can be clarified.  

By the way, I should also ask - do you own any Bitcoins?

Who is the developer of Bitcoin, can you show me their LinkedIn bio? 



See my point?  The most important aspect here is regardless of their LinkedIn credentials (which you also do not have for GeoCoin), is that the LomoCoin project is active, the members post here, and they have hundreds of thousands REAL users on their mobile apps in China.  That is better than many alt coins right now.  But it's very undervalued because people don't know this info in the West where crypto currency is more popular.  That's why, in the last few days, Yuanbao had $10+ million in volume for LomoCoin, and Bittrex only had $2 mil at most.  In the last 24hrs, the volume on this coin was close to the volume on ZCash, the coin partnered by JP Morgan Chase.  The Chinese know about this coin, but the Westerners do not.  I am certain when the Western countries learn more about this coin it will not be a 6 page thread, and it will not be undervalued as it is now. 

So the purpose of the additional funding is to bring awareness to their success and clarify these through Western communication channels, to be able to raise funds for even greater developments.  Imagine if this coin was traded on Poloniex or other large exchanges? 

Also, I should add that, in China, Bitcoin and crypto currency has been taboo for some time.  In some cases it has been illegal and exchanges have had really rough waters to navigate.  Given that, you should understand that the developers are not going to be shouting out their identities and being too public with this.  I think they are purposely expanding globally because there is even more potential for this overseas, outside of China.

You may or may not be right on the details you allude to regarding the respective coins.

What does sound a bit absurd though is your repeated comparisons of Lomocoin devs to Ethereum, bitcoin etc devs. Aside from the nonsensical aspect, it makes a person wonder why you are trying to impose a logical fallacy in defense of a cryptocurrency, rather than giving real info.

Lomocoin is not bitcoin, it's developers are not Satoshi Nakamotos or whatever.

Neither is the coin comparable to ethereum, which may be a good thing for Lomo actually 

I'll retreat from this discussion but hope that there is more accessible information that does not rely on trying to coerce people into trust.

[coinbiz]

...
I think the reason is very clear.  After some success in China, they are expanding globally, not only with the geolocation aspect, but to also create a decentralized platform and new wallet tech.  Also the coins were never fully distributed, so they are not creating additional supply, just generating funding based on existing frozen supply.  

The team members all have bios on their website.  As you have alluded to China doesn't use English Linkedin, they use the Chinese version: 领英 - just google that and search the team members there.

I'm not sure why you mention GeoCoin, whose codebase has not been updated in 3 years and the developers are missing.  That is a dead coin simply getting pumped.  LomoCoin is very much alive, their github is active, and the original poster and team member just posted a few hours ago.  

I think most of the concerns here are due to a lack of understanding of the China market and because people are unaware of what is going on over there.  I believe as they begin their Western marketing and expansion more questions can be clarified.  

By the way, I should also ask - do you own any Bitcoins?

Who is the developer of Bitcoin, can you show me their LinkedIn bio? 



See my point?  The most important aspect here is regardless of their LinkedIn credentials (which you also do not have for GeoCoin), is that the LomoCoin project is active, the members post here, and they have hundreds of thousands REAL users on their mobile apps in China.  That is better than many alt coins right now.  But it's very undervalued because people don't know this info in the West where crypto currency is more popular.  That's why, in the last few days, Yuanbao had $10+ million in volume for LomoCoin, and Bittrex only had $2 mil at most.  In the last 24hrs, the volume on this coin was close to the volume on ZCash, the coin partnered by JP Morgan Chase.  The Chinese know about this coin, but the Westerners do not.  I am certain when the Western countries learn more about this coin it will not be a 6 page thread, and it will not be undervalued as it is now. 

So the purpose of the additional funding is to bring awareness to their success and clarify these through Western communication channels, to be able to raise funds for even greater developments.  Imagine if this coin was traded on Poloniex or other large exchanges? 

Also, I should add that, in China, Bitcoin and crypto currency has been taboo for some time.  In some cases it has been illegal and exchanges have had really rough waters to navigate.  Given that, you should understand that the developers are not going to be shouting out their identities and being too public with this.  I think they are purposely expanding globally because there is even more potential for this overseas, outside of China.

You may or may not be right on the details you allude to regarding the respective coins.

What does sound a bit absurd though is your repeated comparisons of Lomocoin devs to Ethereum, bitcoin etc devs. Aside from the nonsensical aspect, it makes a person wonder why you are trying to impose a logical fallacy in defense of a cryptocurrency, rather than giving real info.

Lomocoin is not bitcoin, it's developers are not Satoshi Nakamotos or whatever.

Neither is the coin comparable to ethereum, which may be a good thing for Lomo actually 

I'll retreat from this discussion but hope that there is more accessible information that does not rely on trying to coerce people into trust.

I apologize if you feel any way from my comments, as my intention is not to coerce anyone into trust.  I am simply an enthusiast and enjoy providing communication where there appear to be language barriers.

My point with the Bitcoin/Ethereum references was that cryptocurrency is a community filled with anonymity and lack of information.  So to be questioning LomoCoin because they lack some information is silly in that respect.  Not to say LomoCoin is the next Bitcoin or that the tech is comparable to Ethereum, not at all.  These are like apples to oranges.  What I mean is, you cannot fault them for not having a snazzy ICO thread or not sharing every detail about their founders, etc. in your convenient mode of communication of the English language.  You are not even the intended target audience. 

It is totally fine to be cautious, and hold the developers and the team accountable for providing more transparency.  I think everyone in the crypto community should do more of that.  The only thing I'm trying to do here is provide information where it appears that there is a lack of understanding due to the language and cultural barriers.  In most cases people missed the information and thought differently simply because they didn't see the WeChat article or the apps on the Chinese iOS store, etc.  You cannot fault them for not making things available in every language, which has not been their intention yet.  It's just like Chinese investors  questioning the legitimacy of an American crypto currency just because they don't post their articles on Weibo.

I would just say, keep being cautious, but also please be patient.  The only reason I suggest investing early is because by the time everything is clear, the price will have gone up much higher.  But I agree with being cautious overall, and I think you are a sound investor.

[PeterTheGrape]

One last comment on this subject.

You might remember bithire. It was one of the best ideas in cryptocurrency. The dev raised a lot of money, at its peak it had a market cap greater than litecoin if you take into account the ico coins. The dev made a nice website, did a fair amount of work, and to this day remains sort of anonymous though the idea behind the coin was not new https://news.ycombinator.com/item?id=98...

If you read through that thread https://bitcointalk.org/index.php?topic=1201420.0 you can see that it was very polished in explaining why the ico was necessary.

https://coinmarketcap.com/currencies/bithire/

Maybe Chinese people are more honest than American people and you do not need to be cautious, but I still have bithire coins