MYCELIUM CROWDSALE BITCOIN WALLET DISCUSSION THREAD

[ICOcountdown.com]

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

[sandiman]

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 ?

[ICOcountdown.com]

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.

[cryptoheadd]

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.

Like equity?

[ICOcountdown.com]

You can read more here:

https://wallet.mycelium.com/elements/licenses.html

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.

[cryptoheadd]

1 BTC per token is very high.

[ICOcountdown.com]

1 BTC per token is very high.

The distribution of 5% is going to get crazy it might be extremely ovebought. But its cool a Bitcoin wallet software company is doing a crowdsale.

[bitbitch]

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?

[ICOcountdown.com]

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?

I am not sure that the entire company is even earning profit yet. But it seems like they want a market cap evaluation so VC's look at it and invest.

[Maythe2nd]

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

[ICOcountdown.com]

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

[ICOcountdown.com]

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

There is no limit it is the total amount divided by the participants and their funds, it is capped at 5%.

[LitcoinCollector]

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.

[BoldNinja]

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.

I like the idea of having a small portion of stake in a company, but that's a bit weird yeah ... invest in something so they can invest in something else for which you have no stake in.

[ZenFr]

I would be interested in buying into the company but not with these terms (too).

Only 5% of the project is very risquy : the company will control this token market with the other 95%.

I'm out (too)

[Sam123]

ICO for a wallet 
I'm out (too)

[Vlegale]

It's good idea. But would be better if they would sell 100%. I would buy a part of something that I am using .

[goostatic74829]

5% does indeed seem too tight

[sandiman]

First, how this company could be decently profitable ? how could it generate income ?

Plus we are only investing in mycelium and not these other business. Meaning that our fund could get used in something we did not pay for.

Even thought there project looks nice, they terribly needs some help with their ico definition if they want more funding.

[bitbitch]

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;

 https://wallet.mycelium.com/crowdsale.pdf

perhaps someone from Mycelium would like to respond?