I just finish reading this article
https://medium.com/iconominet/iconomi-more-ambitious-goals-and-a-21-000-btc-cap-after-a-successful-ico-start-ccb06efff709#.6oygl1cch ICONOMI team seem to be getting cockier with their initial success, I do like their idea that is why invested in it, but I am surprise they reach 2000BTC goal in less than a week this I credited their marketing team for job well done, the initial success seems to be getting into their head, this is what affected the Slockit them, initially the Slockit team wants to be the Airbus, Uber in the crypto space then that started fantasizing into venture capitalist dream, there is a small margin between idea and fantasy. Most of the things listed in that article above is mere just fantasy when you have more money than you need (the initial capital for the project was set at 2000BTC and now the bar is set so high at 21000BTC) can anybody explained to me why there is a big gap between the high and low
Fanatasy) and they need to be remembered that they want to come out for another round of funding, you have a strong idea initially, why try to be many other things (Hard wallet, Founders Debit card) when you can do one thing better.
Oi !
I disagree with the Slockit analogy. This thing was indeed out of control, and was merely just a concept coming with the ETH hype at the time.
If I remember well, the DAO was valued at something like USD150M when it got hacked, with no real project in the pipe except for the "biggest crowdfunding campaign evar", and the "we could run countries with this sh#t" stuff that we could read everywhere..
With USD 4M we're far from these waters at the moment IMO, and ICN here has an actual project to bring FIAT money investments into cryptos (which was entirely ETH for SlockIt).
I also disagree with your understanding of the 21K XBT bar. It's not the new objective. It's an hard cap. They clearly state in the "3." section that they'll close the ICO
if/
when they get there. I really like this decision, considering it protects the early investors from overfunding (feel free to compare this argument to the SlockIt case
). Considering the fixed ratio of the coin they're taking, nothing would have prevented them from saying "go ahead and keep on filling my bank account" had they been in the SlockIt mindset.
From my understanding, the actual funding of the project jumped from 2K
BTC to 10K, which is detailed in the "1." section.
I personally really like the fact that they already know where the extra dough is going, and that they give us feedback directly about that.
More devs, better marketing for the funds, which can prove quite handy for targeting audiences online when ICO.INDEX goes live for example.
For the hard wallet and the card I don't really care, but who knows. Maybe there will be a use for it sooner than we think.
Any additional amount is apparently going to fill the ICONOMI.PERFORMANCE fund directly with stakeholders' money. Sounds very appealing to me.
