Mycelium Crowdsale , Are you investing ?

[NorrisK]

I won't be investing in this. Don't see how it will generate any significant profit. Also, with the risk of being forced to sell your share, remember that if price rises around halving, you will get less btc back than you invested when they force you to sell.

I am not really interested, i had heard alot of marketing begore itbwas launched, but i afraid later it will happen the same with ethereum which now is being dumped

How can you say ethereum is being dumped now? Sure it is lower than its peak but it is still 30x ICO price.

It is easy to draw conclusions from 1 day or 30 day graphs and draw your conclusions from that.

Note, I'm not holding any ETH, and I think it is overvalued and will drop more, but to say it is being dumped while price is still hugely above ICO price is crazy.

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[danielj314]

The total amount raised has updated to a new amount finally....they are currently at 1232.69 BTC. I'm still uncertain as to whether I should invest in this or not. But I'm glad things have started moving for them again.

[gentlemand]

All they had to do was lay out in a clear manner how putting money in is going to benefit them and the person letting go of their coins. Since they don't seem to find that possible then they're missing a large trick.

[BitcoinPenny]

Hmm...I need to start something like this.

Send me 10BTC, and I'll give you the whole darn Bitcoin Penny™ company--inventory, office supplies, website... Heck, I'll throw in the social media accounts FREE OF CHARGE!

Seriously, though. While I question the use of 100M / 1B in the example, I do wish them success. It's a good product.

Regards,
Chris

[Almagro]

It is very exciting and it's very exciting when it matches your expectations. But I think that it still has loopholes for SCAM, because I see the mycelium is still less convincing so that it could have happened...

[Slowturtleinc]

No I wont be investing but it is a curious venture for them to be going down at this time.
Seems to be a thread addressing the issues as well,would look more into it if I had plans to actually invest.

[karasako]

I will not be investing in this. Rather easy choice as well.

"We have 5% that we can give. Please give us money! If we get $1B you will get 5%. If we get $1k you will get 5%."  ??

A company that knows what they are doing would know that they need to raise X amount of money. And they are willing to give 5% for that or something on that path. Or they could provide convertible notes (since most companies do not want to put a price on shares before evaluation), etc.

It obvious that they want the easiest, safest and more profitable options in the detriment of their inverstors.

[BitFomo]

It's shameful that a bunch of people have 'donated' their bitcoin not knowing it is only for 5% of the company.

[NUFCrichard]

I don't like these kind of investments.  There has to be a limit to the number of shares bought, otherwise each person investing is actually pushing down the value for everyone else!

I invested in Neo and Bee and long time ago now, since then I said I wouldn't get involved in any ICOs or bitcoin start ups, so I will be giving this one a miss too.

Good luck to those who do invest though, I really do hope it is successful.

[klondike_bar]

I don't like these kind of investments.  There has to be a limit to the number of shares bought, otherwise each person investing is actually pushing down the value for everyone else!

I invested in Neo and Bee and long time ago now, since then I said I wouldn't get involved in any ICOs or bitcoin start ups, so I will be giving this one a miss too.

Good luck to those who do invest though, I really do hope it is successful.

I put 4BTC into asicminer. not again.

[OtherDave]

Long time lurker... new registration to post this question.  

Do I have my math right?

5% of the wallet portion of the mycelium venture divided proportionally by the number of BTC raised in this round of funding.

If we accept the maximum 7,500 BTC are paid, then the stake of 1 BTC would be (mycelium wallet value * 0.05)/7500 or elsewise 1BTC =  (0.00000666667 * mycelium wallet value)

If we suppose the wallet is valued at $100mil (no real data here, just a number that has been discussed) then we could value 1BTC investment at $666.67

If the wallet grows to be valued at 1BN, then we go up to $6666.70.  Not much info on how they would grow the business 10x.  

Also, it would require them to sell the wallet to another investor in order to realize this profit.  In this case, I am concerned about the T&C that says they can require investors to sell back the token at ICO price.  Seems insane if I am reading those terms correctly.

Seems like very low upside for a very risky 'investment'.  As others have said, maybe treat this more like a donation to a good cause with a very small chance of ROI.

Also, some say that the token can be traded on the exchanges, but some say not.  Any clarity here?

Am I missing something?

Edit: for perspective, the Facebook purchase of Whatsapp was for $19.1bn.  Biggest deal in history for that kind of thing.  Getting sold off for 1bn is not exactly commonplace.

[bitkilo]

Long time lurker... new registration to post this question.  

Do I have my math right?

5% of the wallet portion of the mycelium venture divided proportionally by the number of BTC raised in this round of funding.

If we accept the maximum 7,500 BTC are paid, then the stake of 1 BTC would be (mycelium wallet value * 0.05)/7500 or elsewise 1BTC =  (0.00000666667 * mycelium wallet value)

If we suppose the wallet is valued at $100mil (no real data here, just a number that has been discussed) then we could value 1BTC investment at $666.67

If the wallet grows to be valued at 1BN, then we go up to $6666.70.  Not much info on how they would grow the business 10x.  

Also, it would require them to sell the wallet to another investor in order to realize this profit.  In this case, I am concerned about the T&C that says they can require investors to sell back the token at ICO price.  Seems insane if I am reading those terms correctly.

Seems like very low upside for a very risky 'investment'.  As others have said, maybe treat this more like a donation to a good cause with a very small chance of ROI.

Also, some say that the token can be traded on the exchanges, but some say not.  Any clarity here?

Am I missing something?

Edit: for perspective, the Facebook purchase of Whatsapp was for $19.1bn.  Biggest deal in history for that kind of thing.  Getting sold off for 1bn is not exactly commonplace.

I have not checked your maths more than a quick look but that is about right.
This who "crowdsale" is not looking good. If the investment was in the Mycelium company as a whole then it may be worth it (although i would have to have a look into that 1st) but if all the investors get is a share of the mycelium wallet then i can't see how this would pay off.

If these guys are serious about getting some funding from investors then they are going to have to go back to the drawing board and come up with a better proposition, because not many will fall for this as it is offered now.

[lumeire]

I'm seeing lots of those who haven't bought from the ETH ICO think this is their golden opportunity. Not to break the excitement but I kinda don't think this is it. 

[Rassah]

Hi. Mycelium rep here. Sorry, I kinda abandoned bitcointalk for a while. Most if not all of the questions asked here have been answered on Reddit. If you can't find them, ask me and I'll answer them here as well.

Regarding tokens, you aren't buying an altcoin, you are buying an SAR with all the standard legal rights granted by such an investment. The tokens will be issues as colored coins, you are free to trade them on the market, while the tokens themselves don't grow in value (why we say we will buy them for the same price), they are just proof for your SAR right, which does grow in value. So if you buy a token for $1 and company doubles in value, you'll have same valued $1 token, and a $1 SAR right in the share of company which you can ask to withdraw in cash. Long term the company expects to make a profit, and if that happens, tokens will be converted into dividend paying assets instead. The reason funds can't be promised to be spent on the wallet exclusively is because some backend servers are used for other Mycelium services as well, and legal, accounting, and management are shared among all Mycelium products. Also, many of the other products will be rolled into the wallet eventually too.

Any more questions, feel free to ask.

[BitFomo]

Hi. Mycelium rep here. Sorry, I kinda abandoned bitcointalk for a while. Most if not all of the questions asked here have been answered on Reddit. If you can't find them, ask me and I'll answer them here as well.

Regarding tokens, you aren't buying an altcoin, you are buying an SAR with all the standard legal rights granted by such an investment. The tokens will be issues as colored coins, you are free to trade them on the market, while the tokens themselves don't grow in value (why we say we will buy them for the same price), they are just proof for your SAR right, which does grow in value. So if you buy a token for $1 and company doubles in value, you'll have same valued $1 token, and a $1 SAR right in the share of company which you can ask to withdraw in cash. Long term the company expects to make a profit, and if that happens, tokens will be converted into dividend paying assets instead. The reason funds can't be promised to be spent on the wallet exclusively is because some backend servers are used for other Mycelium services as well, and legal, accounting, and management are shared among all Mycelium products. Also, many of the other products will be rolled into the wallet eventually too.

Any more questions, feel free to ask.

So we are 'donating' to the wallet only, but our donations go towards other things for the company at whole?

And please stop calling it an 'investment'. You have made it clear that it is a donation.

[Rassah]

So we are 'donating' to the wallet only, but our donations go towards other things for the company at whole?

No, your investments go to the wallet only, but some of the resources that the wallet depends on are used by other products in the company as well. Fir instance, the investment will pay for the wallet backend servers, which the wallet can't work without, but Mycelium Gear uses the wallet backend servers to track whether payments have been made too.

And please stop calling it an 'investment'. You have made it clear that it is a donation.

No I haven't

[Jocuserious]

https://www.youtube.com/watch?v=9QS0q3mGPGg

[mangox]

I don't understand this to be honest ; why are they selling shares of their project ? They know best will it turn profit, so it seams to me that they are
looking more for bailout of sorts, rather than that they are selling shares from any other reason.

Personally, i am not even remotely considering of investing my funds there, but i am interested in what others have to say tho.

The company may repurchase the subscription amount the tokens on the Mycelium Wallet at any time. Any price gains can thus be erased at any time again if the company decides to buy back. This is very bold. For me, therefore, subject to the conclusion that I will continue to use the app, but will not invest in life a Satoshi in this ICO.

[finkelsteinMonster]

And please stop calling it an 'investment'. You have made it clear that it is a donation.

No I haven't

Don't you think you should?

[Rassah]

I don't understand this to be honest ; why are they selling shares of their project ? They know best will it turn profit, so it seams to me that they are
looking more for bailout of sorts, rather than that they are selling shares from any other reason.

Personally, i am not even remotely considering of investing my funds there, but i am interested in what others have to say tho.

The company may repurchase the subscription amount the tokens on the Mycelium Wallet at any time. Any price gains can thus be erased at any time again if the company decides to buy back. This is very bold. For me, therefore, subject to the conclusion that I will continue to use the app, but will not invest in life a Satoshi in this ICO.

Repurchasing tokens only repurchases the contract that you bought, not the gains that the contract entitles you to. There is nothing in the agreement that erases your gains. If your contract is worth $100 and the gains are worth $1000, you can still get your gains, which are always separate from the contract itself, before selling the $100 contract.

And please stop calling it an 'investment'. You have made it clear that it is a donation.

No I haven't

Don't you think you should?

If this was a donation, you would get nothing in return. With this you are getting a share of the company. So no, I should make it clear that you are buying a share ownership of the company, and not making a donation.