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Question: Should WeTrust reduce the minimum goal for its ICO campaign? It currently stands at 1,500 BTC
No, it should remain the same. - 1 (7.1%)
Yes, lower it to 1,000 BTC or lower. - 8 (57.1%)
Yes, lower it to 500 BTC or lower. - 5 (35.7%)
Yes, increase it. - 0 (0%)
Total Voters: 14

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Author Topic: WeTrust ICO Funding Goal  (Read 3325 times)
disconnectme
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February 24, 2017, 06:07:11 AM
 #21

Seem everyone believed 1000BTC should be the minimum cap, What I don't understand is that do this project need ICO in the first place. I have looked into the project and I believe this can be achieved without ICO funding


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iamnotback
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February 24, 2017, 07:03:20 AM
 #22

Seem everyone believed 1000BTC should be the minimum cap, What I don't understand is that do this project need ICO in the first place. I have looked into the project and I believe this can be achieved without ICO funding

What about the maximum which they've set at 12,000 BTC!?!

That means if you buy this early for the 30% discount, then you don't know if they won't raise $15+ million, thus diluting your holdings with a huge marketcap (in terms of what $15 million cash would do to a marketcap either on upside or downside via selling pressure, that is the realm of $100s of millions marketcap of buying and selling pressure because marketcap is most always a multiple of the new cash that was actually invested on the exchange, because for example if the marketcap is $10 million then selling $1million can move the marketcap down to less than $9 million perhaps as low as a < $5 million). And then they have no incentive to actually believe and work hard to make the project a success, because they already cashed out $15 million!

Their plan is pie-in-the-sky and thus very likely won't pan out. IMO, that is why they want to cash out upfront instead of making their money on the appreciation of the price of the tokens long-term. If they set the maximum raise to something reasonable, then I might have more belief that they are serious about risking their own effort and time. But noooo, they want to get rich without any risk.
mike77777
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February 25, 2017, 07:54:30 PM
 #23

Seem everyone believed 1000BTC should be the minimum cap, What I don't understand is that do this project need ICO in the first place. I have looked into the project and I believe this can be achieved without ICO funding

This can be said about most of blockchain projects... Iconomi Lisk they didn't need so much funds they have collected.
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