I can't understand why investors dumped their coins for 1/4+ of the price they paid in the ICO. Who does that anyway??
I've been asking myself the same question and don't believe what must of the members are saying over here, not anymore. One time it's because of the fork, the other time it's because of big wales... And what about them being scammers??
I know I have a newbie account, but I've been following ICO's for a while now and this is not normal.
Thre's not one of the members of their team that comes over here and explain himself, you don't leave the community that started your project without any info once you collect your ICO. And you don't give people 3 or 5 tokens after they promoted your project for 6 weeks or so.
Call me paranoid, but this is what I think they did;
Now, let's say you have 1000 ether and you decide to do an ICO. You go and start your project like those guys here did, but with other intentions than the one we think of.
Then, you become your own "angel investor" and grab your own tokens for let's say half of the price, so instead of 1000 tokens per ether, you get 2000 per ether. You send those to another account and you're ready for the next step.
The token distribution takes place and you set for sale the rest of your available tokens for the "normal" price. And this time let's say you sell for another 2000 ether. So now, you end up with 2.000.000 of your own tokens and investors also with 2.000.000 of them, but now, you have 3000 ether instead of 1000.
And now it's time to go ahead and do your thing. With that same account, you go and crash the price of your own token and cash out some more ethers, you know your investors trust you, and even if they don't, must of them will be buying the dips to cut our losses (some of us even thinking it's still a good investment), while you can go ahead and easily cash out some more ether and let them blame "the Chinese" for it.
Just an example, Bitcoin Blue, hmm sorry, Red (don't even know what for a coin that is) came out yesterday and they already have a circulating supply, a total supply, and a market cap. "
https://coinmarketcap.com/new/"
That's not something we can say about Indorse, for a team that's claiming to show us complete transparency, this is a clear sign they don't. Only two days ago, over 7 weeks after the ICO, they come with a market cap, and it seems like there are no more than 47m circulating tokens with another 123m to go... I think we all should know better and start accepting our losses.
This is not something a legit company would do IMHO. Maybe I'm wrong, but I doubt it!! Be aware, I'm not saying they are not building a platform and everything you want, but those peoples are just another bunch of scammers. They collected over 9.9 million "
https://blog.indorse.io/indorse-token-sale-final-numbers-1f7cd856ce2" and after 7 weeks of waiting for their market cap to be released, they come up with 2.38m or so, where did those 7.5 million go? While the only thing that has changed in their project is the value of the token and their transparency with us. It's been 6 months I'm teaching myself how to code, and seriously, if you knew the number of platforms we can build with such amount of money.
123 Million to be distributed and there is not one account that holds that amount of tokens, it's spread over several accounts. I was having a look at their contract and it seems that those tokens are for advisors and for future use or so.
And while they are claiming that this guy over here is their Senior developer (scroll down to 'Team') "
https://indorse.io/", the only one who has ever been present on GitHub is the founder himself... "
https://github.com/orgs/indorseio/people", except for this one time 25 days ago when the co-founder showed up on GitHub and "updated" the contract... "
https://github.com/indorseio/tokensale/commit/b9f062c20988d350353e867d872143c81decc284#diff-1b1fd45ce4d28644ae168ae72f422cf2"
Every other week is that guy present on some other blockchain meeting, every day posting on twitter, and the guy doesn't have 2 minutes to log into the account that started his project and chat with his people? Just promoting his project to keep the game going, searching to attract more investors and probably paying members over here to keep posting positive things about his project...
And while on their website the team consists of one senior developer, go find out why the hell on Medium they have two of them? They have two fuc*ing Senior Developers and a Smart Contract developer that doesn't even exist on their website and who has never been on GitHub.
-Harsh Nene went from Product Advisor to Senior Developer, Gaurang Torvekar went from co-Founder to Technical Lead or the other way around... I could go on like this but go ahead and have a look by yourself to the team on Medium and the team on their website.
https://medium.com/crypt-bytes-tech/ico-review-indorse-7f7b64566eba
