ICO Blues: Status Raises $64 Million (So Far) But Leaves Buyers Waiting

[bbc.reporter]

Another red mark for another ICO that is run using the Ethereum platform just happened. Before this there was the Bancor and BAT ICO. The investors are now complaining that the sales of those tokens are flawed from the start.

Why is this happening? Is it the fault of the ICO smart contracts or is it the fault of the platform?



At press time, the team behind Status, which is developing a mobile-based messenger and browser app, had raised 182,000 ETH – an amount worth roughly $64m in ether at current market prices.

Network data points to the creation of approximately 1.63bn tokens, with sales drawn from 3,341 accounts on the ethereum network.

Yet the sale quickly ran into headwinds as users began sending transactions to the announced smart contract address before it began. That backlog accelerated as more users tried to purchase tokens, triggering reports of failed transactions and accusations that the sale itself was flawed from the start.

But it wasn't just the network itself that got bogged down, according to posts on social media.

Wallet service MyEtherWallet saw a big uptick in activity, posting a notice to its website (since removed) that stated "if your [transaction] is not urgent, we recommend NOT SENDING TODAY".

Read the article http://www.coindesk.com/ico-blues-status-raises-58-million-leaves-buyers-waiting/

[benthach]

Another red mark for another ICO that is run using the Ethereum platform just happened. Before this there was the Bancor and BAT ICO. The investors are now complaining that the sales of those tokens are flawed from the start.

Why is this happening? Is it the fault of the ICO smart contracts or is it the fault of the platform?



At press time, the team behind Status, which is developing a mobile-based messenger and browser app, had raised 182,000 ETH – an amount worth roughly $64m in ether at current market prices.

Network data points to the creation of approximately 1.63bn tokens, with sales drawn from 3,341 accounts on the ethereum network.

Yet the sale quickly ran into headwinds as users began sending transactions to the announced smart contract address before it began. That backlog accelerated as more users tried to purchase tokens, triggering reports of failed transactions and accusations that the sale itself was flawed from the start.

But it wasn't just the network itself that got bogged down, according to posts on social media.

Wallet service MyEtherWallet saw a big uptick in activity, posting a notice to its website (since removed) that stated "if your [transaction] is not urgent, we recommend NOT SENDING TODAY".

Read the article http://www.coindesk.com/ico-blues-status-raises-58-million-leaves-buyers-waiting/

Again and again eth is unscalable bloat scam crap

[vincentvincent]

Total BS ICO. A lot of people will get burned by this.

[Spoetnik]

64 million ? i think i am gonna puke 

Fuck people what is wrong with you ? 

[slaman29]

So ETH is enjoying all that volume... thanks to ICOs? And bloat? Whatever happened to how quick ETH network is compared to Bitcoin? Why did we never foresee this before? I thought Vitalik was always thinking ahead?

Surprise us with something new.

[ryandaff01]

Total BS ICO. A lot of people will get burned by this.

how do you know this for sure ?

[Spoetnik]

Total BS ICO. A lot of people will get burned by this.

how do you know this for sure ?

Do you need 64 million dollars for a messaging app ?

Do you even common sense ?

[CryptoPro3]

Total BS ICO. A lot of people will get burned by this.

how do you know this for sure ?

Do you need 64 million dollars for a messaging app ?

Do you even common sense ?

It's a lot more than just a messenger app though.

[Trustor]

People need to calm down and just wait for official release.
This non sense of 'when it will be listed on bittrex ?' 10s after ico end need to stop.