[ANN] [ICO] MONETHA - Decentralised reputation with built-in payments

[nmrcngrb]

I've been reading it through and I think this is worth investing in.
I have also checked quite a few other ICOs that are running or pending for near future and I take this one as one of my top 3 choice.

[Monetha.io]

You can find instructions how to participate in our ICO by visiting monetha.io and clicking "Join Crowdsale"

[Monetha.io]

Media giant "The Next Web" has written about Monetha and how it will influence the future of digital payments.
http://bit.ly/2vvNHjE

[jt00]

So if Monetha raises $30 million and the coin holders receive 0.5% while getting only 50% of the coins, Monetha will have to process $12 billion in payments for its investors to break even?  Am I missing something?  How likely is it that Monetha processes $12 billion in payments and in what time frame?  Isn't this the question we should be really asking?

[Gennosuke]

For what exactly they need my personal information for example the phone number?

[K-]

So if Monetha raises $30 million and the coin holders receive 0.5%, Monetha will have to process $6 billion in payments for its investors to break even?  Am I missing something?  How likely is that Monetha processes $6 billion in payments and in what time frame?  Isn't this the question we should be really asking?

agree with you.
Anyway gas suggested for ico?

[jt00]

So if Monetha raises $30 million and the coin holders receive 0.5%, Monetha will have to process $6 billion in payments for its investors to break even?  Am I missing something?  How likely is that Monetha processes $6 billion in payments and in what time frame?  Isn't this the question we should be really asking?

agree with you.
Anyway gas suggested for ico?

Just saw on the white paper that Crowdsale participants get 50% of the tokens, so it looks like the investor break-even number is $12 billion now in payments =(
Edited my previous post.  

From their white paper:  
E-commerce   worldwide   sales   in   2014   were   USD   1.33   trillion   and   are   projected   to increase   to   USD   4.058   trillion   by   2020.   E-commerce   share   of   retail   sales    is   expected to   increase   from   7.4%   in   2015   to   14.6%   in   2020

Let's be generous and say worldwide sales are 3 trillion.   Monetha would have to process 0.4% of global payments for investors to break even in a year.  

[iGotHope]

eth's price been on the come up. I wonder if 1 eth = 2400 on the pre-ico still? Will Monetha adjust or it is what it is.

[Gennosuke]

So if Monetha raises $30 million and the coin holders receive 0.5%, Monetha will have to process $6 billion in payments for its investors to break even?  Am I missing something?  How likely is that Monetha processes $6 billion in payments and in what time frame?  Isn't this the question we should be really asking?

agree with you.
Anyway gas suggested for ico?

Just saw on the white paper that Crowdsale participants get 50% of the tokens, so it looks like the investor break-even number is $12 billion now in payments =(
Edited my previous post.  

From their white paper:  
E-commerce   worldwide   sales   in   2014   were   USD   1.33   trillion   and   are   projected   to increase   to   USD   4.058   trillion   by   2020.   E-commerce   share   of   retail   sales    is   expected to   increase   from   7.4%   in   2015   to   14.6%   in   2020

Let's be generous and say worldwide sales are 3 trillion.   Monetha would have to process 0.4% of global payments for investors to break even in a year.  

Even if this not sound like much 0.4% is a lot(Does Someone know how much Bitcoin has  ?) and most ERC20 Tokens people bought with the intention for other use cases. I would never buy products with my golems because the original purpose is not means of payment. Beside that you have to deal with tax stuff. The idea is good but can be easily copied just the partnerships are a strong plus. In my opionen its a short term hype coin

[thorRJ]

This project looks like it's going to be very promising. I have only one more doubt regarding the bounty, are these values ​​to be distributed are fixed or according to the amount raised in ICO?

[nelson4lov]

I wonder how the Monetha team claims to be building a Decentralized platform when they censor and ban users who ask essential questions about the platform.

So I was surfing through Reddit today when I came across a post titled — "Why Monetha is a terrible ICO, my post was deleted on their subreddit" (Link to post:
https://www.reddit.com/r/CryptoCurrency/comments/6wdg4d/why_monetha_is_a_terrible_ico_my_post_was_deleted/?ref=search_posts )


That post raised some thought provoking questions within me which I proceeded to ask on the Telegram channel. The team gave sketchy answers in a bid to evade my questions. When I insisted, They banned me. It's obvious they ban anyone who ask questions.

[miKcrypto]

I wonder how the Monetha team claims to be building a Decentralized platform when they censor and ban users who ask essential questions about the platform.

So I was surfing through Reddit today when I came across a post titled — "Why Monetha is a terrible ICO, my post was deleted on their subreddit" (Link to post:
https://www.reddit.com/r/CryptoCurrency/comments/6wdg4d/why_monetha_is_a_terrible_ico_my_post_was_deleted/?ref=search_posts )


That post raised some thought provoking questions within me which I proceeded to ask on the Telegram channel. The team gave sketchy answers in a bid to evade my questions. When I insisted, They banned me. It's obvious they ban anyone who ask questions.

I only asked Why only  50% of the token MTH token supply is allocated to the ICO. The remaining 50% allocated to the team on top of the funds to be raised. With so much in the team's pocket which they can dump at will.

Their funds aren't locked for a year?

[Voz]

Hi there.
This project looks great. When will you publish the tutorial to participate in the ico?
Thanks

[deddod01]

information about monetha
                                          Why am I named Monetha?
Nine months ago, when my creators sat down at a table, a simple question came up — how I, an elegant, decentralised, efficient and easy to use payment processing solution, should be named?

When my co-founders started looking for a name, they wanted my name to be associated with payments. After some research, they noticed a similar pattern — in many languages, a word “Moneta” is related to coins: Monēta in Latin means “money”, while Moneta in Italian means “currency”, and “coin” in many countries, from Russia, Estonia to Vietnam.
Considering the fact, that Monetha was built for the Ethereum community, by the Ethereum community, having my name left at “Moneta” wouldn’t simply do it. My team members are big believers of Ethereum Blockchain, thus, they wanted to show their appreciation — by adding the letter “H”, Ethereum abbreviation “ETH” was placed in my name.

My team understands that every member of the cryptocurrency community wants to have trust in the projects they take part in, therefore, they wanted to further display our trust and dedication to the Ethereum community. That’s why Monetha’s abbreviation is similar to Ethereum’s (ETH and MTH), which will also be helpful to remember my name in the future.

by: Monetha team

[Monetha.io]

So if Monetha raises $30 million and the coin holders receive 0.5%, Monetha will have to process $6 billion in payments for its investors to break even?  Am I missing something?  How likely is that Monetha processes $6 billion in payments and in what time frame?  Isn't this the question we should be really asking?

agree with you.
Anyway gas suggested for ico?

Hello K- and jt00, thanks for your question.

When you think about transactional volume, $6 Billion isn't such a high number. To illustrate this - In the first three months of 2015, PayPal made $61,4B in transaction volume. Take into consideration that mobile payment and payment processing industry is growing every year. While we understand that there's plenty of work to do to reach these high numbers, your help is what we need, to become the next PayPal competitor.

Our recommended gas is 250,000.

Regards,
Monetha Team

For what exactly they need my personal information for example the phone number?

Hello Gennosuke,

We need to be compliant with Swiss laws, thats why we ask you this information.

Regards,
Monetha Team

eth's price been on the come up. I wonder if 1 eth = 2400 on the pre-ico still? Will Monetha adjust or it is what it is.

Hello iGotHope,

You are correct, you will receive the same amount of MTH for ETH during the ICO.

Regards,
Monetha Team

I wonder how the Monetha team claims to be building a Decentralized platform when they censor and ban users who ask essential questions about the platform.

So I was surfing through Reddit today when I came across a post titled — "Why Monetha is a terrible ICO, my post was deleted on their subreddit" (Link to post:
https://www.reddit.com/r/CryptoCurrency/comments/6wdg4d/why_monetha_is_a_terrible_ico_my_post_was_deleted/?ref=search_posts )


That post raised some thought provoking questions within me which I proceeded to ask on the Telegram channel. The team gave sketchy answers in a bid to evade my questions. When I insisted, They banned me. It's obvious they ban anyone who ask questions.

Hello nelson4lov, thanks for your question.

Regarding the “centralisation” and “decentralisation”. Monetha is a legal entity in Switzerland (Monetha GmbH), that is creating a payment solution levering blockchain technology.
We have never said that Monetha is fully decentralised. We are developing payments system with a decentralised trust and reputation layer on top of it. Before blockchain that was never possible and those two were separate business models.
Monetha combines them. Monetha is as much centralised and decentralised as TenX, OmiseGo, MetalPay, Iconomi, BAT and many more. All of those companies are legal entities creating products levering blockchain technology. And all of those companies have business model from which they will earn money (and reward their token holders as well).
Every company needs revenues to grow and to make it a sustainable business. Capital raised during the ICO is only the first step towards a successful company. We need that to develop the product and market it.
Then, we will need revenue from our customers to grow the company. As any other business.

Regarding the smart contracts: we took a lot of time and focus in creating and auditing them (3 different auditors have done it), that’s why it took a bit longer than we expected. We will publish them today so everyone could have a look.

Regarding the reddit post: we are sorry. This was a mistake done by our admin to who we told that Reddit is mostly for announcements and ICO questions. All of the product related questions should be directed to our Telegram or Slack in which we did answer same question of yours. Once again, sorry for the mistake, it should have not happened.

Best wishes,
Monetha Team

[lkjhg]

The potential of this project is very good, coupled with a team that has great ability (judging by how the team answers all the questions in this forum)

[Grant Hero]

I wonder how the Monetha team claims to be building a Decentralized platform when they censor and ban users who ask essential questions about the platform.

So I was surfing through Reddit today when I came across a post titled — "Why Monetha is a terrible ICO, my post was deleted on their subreddit" (Link to post:
https://www.reddit.com/r/CryptoCurrency/comments/6wdg4d/why_monetha_is_a_terrible_ico_my_post_was_deleted/?ref=search_posts )


That post raised some thought provoking questions within me which I proceeded to ask on the Telegram channel. The team gave sketchy answers in a bid to evade my questions. When I insisted, They banned me. It's obvious they ban anyone who ask questions.

I only asked Why only  50% of the token MTH token supply is allocated to the ICO. The remaining 50% allocated to the team on top of the funds to be raised. With so much in the team's pocket which they can dump at will.

I agree with you here.  The team seems to be great at marketing and knows what it needs to do to create hype (gains ton of advisors, videos, etc.).  There have been a few examples of lack of transparency including yours.  It's difficult to believe in their business model as a "decentralized trust and reputation" when they aren't always as transparent themselves.

[Triple7Fox]

I am very interested in the project but I still have a lot of questions to ask about this project. I am sure the project will succeed because it is highly appreciated on all media

[Monetha.io]

I wonder how the Monetha team claims to be building a Decentralized platform when they censor and ban users who ask essential questions about the platform.

So I was surfing through Reddit today when I came across a post titled — "Why Monetha is a terrible ICO, my post was deleted on their subreddit" (Link to post:
https://www.reddit.com/r/CryptoCurrency/comments/6wdg4d/why_monetha_is_a_terrible_ico_my_post_was_deleted/?ref=search_posts )


That post raised some thought provoking questions within me which I proceeded to ask on the Telegram channel. The team gave sketchy answers in a bid to evade my questions. When I insisted, They banned me. It's obvious they ban anyone who ask questions.

I only asked Why only  50% of the token MTH token supply is allocated to the ICO. The remaining 50% allocated to the team on top of the funds to be raised. With so much in the team's pocket which they can dump at will.

I agree with you here.  The team seems to be great at marketing and knows what it needs to do to create hype (gains ton of advisors, videos, etc.).  There have been a few examples of lack of transparency including yours.  It's difficult to believe in their business model as a "decentralized trust and reputation" when they aren't always as transparent themselves.

Hello gentlemen,

Its important to note that not 50% will go to the team. Only 15% will go to the Monetha company (+10% for the future financing) of the tokens will be allocated to the team.

If we successfully collect more than the soft cap, we plan to have FIAT to FIAT transactions on Blockchain once our full working product is developed. We also plan to have a "superstar" team, with very successful executives, which we wouldn't be able to achieve without more funding.

Best Regards,
Monetha Team

I am very interested in the project but I still have a lot of questions to ask about this project. I am sure the project will succeed because it is highly appreciated on all media

Hello Triple7Fox, thanks for your question.

You can hop on our Telegram or Slack to ask any questions that you have!

Regards,
Monetha Team

[nelson4lov]

So if Monetha raises $30 million and the coin holders receive 0.5%, Monetha will have to process $6 billion in payments for its investors to break even?  Am I missing something?  How likely is that Monetha processes $6 billion in payments and in what time frame?  Isn't this the question we should be really asking?

agree with you.
Anyway gas suggested for ico?

Hello K- and jt00, thanks for your question.

When you think about transactional volume, $6 Billion isn't such a high number. To illustrate this - In the first three months of 2015, PayPal made $61,4B in transaction volume. Take into consideration that mobile payment and payment processing industry is growing every year. While we understand that there's plenty of work to do to reach these high numbers, your help is what we need, to become the next PayPal competitor.

Our recommended gas is 250,000.

Regards,
Monetha Team

For what exactly they need my personal information for example the phone number?

Hello Gennosuke,

We need to be compliant with Swiss laws, thats why we ask you this information.

Regards,
Monetha Team

eth's price been on the come up. I wonder if 1 eth = 2400 on the pre-ico still? Will Monetha adjust or it is what it is.

Hello iGotHope,

You are correct, you will receive the same amount of MTH for ETH during the ICO.

Regards,
Monetha Team

I wonder how the Monetha team claims to be building a Decentralized platform when they censor and ban users who ask essential questions about the platform.

So I was surfing through Reddit today when I came across a post titled — "Why Monetha is a terrible ICO, my post was deleted on their subreddit" (Link to post:
https://www.reddit.com/r/CryptoCurrency/comments/6wdg4d/why_monetha_is_a_terrible_ico_my_post_was_deleted/?ref=search_posts )


That post raised some thought provoking questions within me which I proceeded to ask on the Telegram channel. The team gave sketchy answers in a bid to evade my questions. When I insisted, They banned me. It's obvious they ban anyone who ask questions.

Hello nelson4lov, thanks for your question.

Regarding the “centralisation” and “decentralisation”. Monetha is a legal entity in Switzerland (Monetha GmbH), that is creating a payment solution levering blockchain technology.
We have never said that Monetha is fully decentralised. We are developing payments system with a decentralised trust and reputation layer on top of it. Before blockchain that was never possible and those two were separate business models.
Monetha combines them. Monetha is as much centralised and decentralised as TenX, OmiseGo, MetalPay, Iconomi, BAT and many more. All of those companies are legal entities creating products levering blockchain technology. And all of those companies have business model from which they will earn money (and reward their token holders as well).
Every company needs revenues to grow and to make it a sustainable business. Capital raised during the ICO is only the first step towards a successful company. We need that to develop the product and market it.
Then, we will need revenue from our customers to grow the company. As any other business.

Regarding the smart contracts: we took a lot of time and focus in creating and auditing them (3 different auditors have done it), that’s why it took a bit longer than we expected. We will publish them today so everyone could have a look.

Regarding the reddit post: we are sorry. This was a mistake done by our admin to who we told that Reddit is mostly for announcements and ICO questions. All of the product related questions should be directed to our Telegram or Slack in which we did answer same question of yours. Once again, sorry for the mistake, it should have not happened.

Best wishes,
Monetha Team

I was banned from the Telegram channel because I asked a question.