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

[adamvp]

Former Mycelium Employee Quit After Token Sale Funds Were Used for Vacation
https://coinjournal.net/former-mycelium-employee-quit-token-sale-funds-used-vacation/

Hope it was a nice vacation considering all the btc they took in from the crowdsale.

What can solace us is that if we think they spend this bitcoin when BTC was $200 and how much they lost in compare if they hold BTC at least BTC crossed $2000 mark 

[serfsup]

What can solace us is that if we think they spend this bitcoin when BTC was $200 and how much they lost in compare if they hold BTC at least BTC crossed $2000 mark 

No solace in that.  Even at $200, and I think it was actually around $400 to $450 at the time, it was a lot money that they took in.

[adamvp]

What can solace us is that if we think they spend this bitcoin when BTC was $200 and how much they lost in compare if they hold BTC at least BTC crossed $2000 mark 

No solace in that.  Even at $200, and I think it was actually around $400 to $450 at the time, it was a lot money that they took in.

They could take even  at $500,  but they could at $2500 so they lose 80percent of what they stole Karma

[alani123]

The price of bitcoin is something that's been left unclear about this cowdsale. Provided that the luck of the funds received by Mycelium is unknown to some extent it'd be hard to make predictions. Whether or not the funds were converted, the fact that no product has yet been represented and there's been no disclosure of what work might've been put into it (if any) it'd be hard to make out a capitalization, let alone see how devs are allocating funds.

Mycelium's wallet crowdsale by all means has not been anywhere close to being an investment as my predictions were right so far form what it seems.

[BartS]

Pure money grab on the heels of all these icos. Reminds me of the dot com bubble.

In a way you are right, many of these projects have no future at all, but they are going to earn a lot of money with them, so to pout your money in those projects is to risk your financial well being.

[squatz1]

Lets just go to the point and say that this is something along the lines of an investment, I just can't see a wallet company ever going to be able to turn a profit in an age where there are so many of them and they're not really charging a dime to do anything right now, the only company which I can think is charging people to be using their wallet services is going to have to be BitGo. But the only reason for that is due to them being more of a corporate / company option with added security features.

Even if it is an investment, there's no money there.

[European Central Bank]

Lets just go to the point and say that this is something along the lines of an investment, I just can't see a wallet company ever going to be able to turn a profit in an age where there are so many of them and they're not really charging a dime to do anything right now, the only company which I can think is charging people to be using their wallet services is going to have to be BitGo. But the only reason for that is due to them being more of a corporate / company option with added security features.

Even if it is an investment, there's no money there.

i'd guess many of them are simply building something up in the hope of being bought out. then it's the buyer's problem to monetise it.

there are avenues to make money. you can buy and sell inside the wallet, do stuff like have links to trezor sales, and they also gather information about usage to sell on like pretty much every other internet company.

being able to trace where money is spent and how much could be extremely valuable in the years to come.

[serfsup]

https://twitter.com/Rassah/status/890069656391823362

"I'm stepping away from @MyceliumCom. Seems like a good time to part ways. More info to come later."

[alani123]

Colu's service will be shutting down on the 1st of June 2018. The whole concept of colored coins seems to be dying now. End of an era for Mycelium? The project was dead anyway but not their worthless token will also banish... 

Also, remember the person that had stepped down, Rassah? He was spamming this thread to defend Mycelium's scam back in the day.

This is him now:

This is what a 5,131.445 BTC crowdfund looks like.

[alani123]

From Mycelium's telegram:


I don't know what lawsuit is being discussed but it sounds to me like Rassah might be forgetting some things here and there. Not only did he take part in the crowdsale, he tried to convince investors that everything was fine by claiming that the frauds of Mycelium were legitimate practices.

Let's not let this guy forget. Look at his replies in this thread and you'll get what I mean.

[mishax1]

Where is the lawsuit ?

as this is clearly states that this is a security:

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.

[alani123]

Where is the lawsuit ?

as this is clearly states that this is a security:

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.

Here's one mention to a lawsuit I found on Telegram.

There might be other ones too. The operation of Mycelium is currently headlined from Russia with its CEO also being there. From what I understand though, the perpetration of their scam involved trips to California during the crowdsale.

[European Central Bank]

Where is the lawsuit ?

as this is clearly states that this is a security:

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.

i can't bring myself to sympathise with anyone who thought this was a promising proposal. that reads like something put together by a school kid. this was always a dead end milking the good will they generated.

whoever ran it should be pursued to the ends of the earth but the people who gave them money need to slap themselves too.

props to the OP. he nailed it completely.

[freesia_pnp888]

OMG! please come true!

[mishax1]

Where is the lawsuit ?

as this is clearly states that this is a security:

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.

Here's one mention to a lawsuit I found on Telegram.

There might be other ones too. The operation of Mycelium is currently headlined from Russia with its CEO also being there. From what I understand though, the perpetration of their scam involved trips to California during the crowdsale.

Cool. 
Sent Mark a pm.
Thanks

[KR$N]

I'm sorry for going little offtopic, but is it safe to continue using their mobile wallet?

[gentlemand]

I'm sorry for going little offtopic, but is it safe to continue using their mobile wallet?

I use it all the time as do many thousands of others without any problems. I've never heard of anyone being the victim of anything the developers might have done. If we did we'd know about it instantly.

This crowd sale thing was the result of crappy management who may not be involved any more at all for all we know.

[mishax1]

I'm sorry for going little offtopic, but is it safe to continue using their mobile wallet?

It's safe, but no longer recommended since they focus on altcoin development instead of Bitcoin.

I'm using a Segwit capable wallet Samourai.

[Wiliam heil]

Has the dev run away?

[alani123]

Telegram allows for the deletion of messages. Here's an archive of Mycelium's Telegram group (@MyceliumWallet).
https://archive.org/details/telegram-messages-dump-mycelium
https://paste.ee/p/JD0Mv - warning, big load.

For future reference. Be it lulz, courts, a combination of the two or anything else.