Mycelium's "crowdsale": basically a donation, not an investment by any means

[Troysen]

Its quite unfortunate that it got to this, The sad thing is that there are victims in this ear of information where people criticize and share their views bout emerging issues, most people who have been victimized either missed the warning or just chose to ignore the heed.sorry for the cictims, you will be more cautious next time

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[alex massi]

Oh dont you worry Mycelium will be a sell out everytime it has a crowdsale.At least mycelium has a product whats waves got?

[alani123]

Oh dont you worry Mycelium will be a sell out everytime it has a crowdsale.At least mycelium has a product whats waves got?

Not to defend Waves but at least it delivered on SOME promises and has a functional platform.

Mycelium raised more than 5000 BTC and mismanaged funds.

Over those years:
No promises covered
No profit from wallet (no business model either)
No major developments
Burned through most of the funds (allegedly)
Miscalculation of how long anything would take to develop (can't even allocate the team to implement segwit)

Mycelium supposedly employees a development team and yet feature releases are so slow... Is there any oversight? Are those devs incompetent? Who knows... Not even their 'management' knew back in the day.

Also allegedly, the CEO decided to sell the raised BTC at a dip somehwere around 600$ per BTC. I don't know if it's true or just a story they try to sell to make courts have more leniency on them, but let's suppose that it's true.

If they were burning through their BTC reserves slowly at least they would have had more than 10x the funds to sustain development by now.

[adamvp]

Do we have any update in mycelium funds matter?

[vapourminer]

i remember sending a small amount back in the day, then jumping through a few hoops to do something other to register it or something. cant even remember what i did now lol.

im sure i can figure it out but at the moment why bother.

btw i still use mycelium as my phone wallet. at least it works and ive never had a problem with it.

but im sure interested in the full story if anyone has some links to share.

[alani123]

There's discussion in the Mycelium Telegram group. https://t.me/MyceliumWallet Really it's the only point of reference when people ask for Updates. I haven't been keeping up & my thread served its purpose I hope.
In terms of the MT token that came out of the sale I made this thread about, I think it's stuck in limbo right now. Practically speaking, I it's useless anyway. But it's also in a limbo state right now because the service that was being used to access it shut down. The devs say they're working on a solution to bring it in the wallet but I have no idea how that went.

Rassah is in that Telegram group too. While it's the official group for Mycelium, discussion in it isn't always pro-Mycelium. And Rassah no longer works there. It is my opinion that he appears to be regretful for how things turned and no longer shows his support for the project.

[vapourminer]

thanks. i do remember turning something into a token or something.

ill have to do some reading when i get the chance.